Securities Law Update - September 2024
Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on..… more
Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on..… more
On September 3, 2024, Senator Elizabeth Warren (D-MA) sent a letter to the Internal Revenue Service (the “IRS”) urging it to “increase enforcement scrutiny of REITs, especially large health and hospitality REITs that may be illegally… more
Before a local government can build a new town hall building or upgrade its water and sewer infrastructure using federal funds, it needs to navigate a complex maze of federal procurement requirements… more
After ten years of litigation, the Federal Circuit found that the district court conducted an improper collateral estoppel analysis and upheld ParkerVision’s position on each of the appealed issues. Background - In 2011… more
This fall, California voters will decide whether the state should continue prohibiting cities and counties from enacting or expanding rent control. If they vote “yes” in November, San Francisco could be ready to extend the caps to many… more
For nearly two years, Washington employers with 15 or more employees have been required to disclose within job postings a salary range or wage scale, any other discretionary or nondiscretionary compensation, and a general description… more
Down round financings recently reached their highest levels in 15 years, leaving investors, growth-stage companies, and other venture capital market participants searching for guidance and clarity. Jones Day partners Tim Curry, Taylor… more
On September 19, 2024, Insurance Agency Marketing Services (“IAMS”) filed a notice of data breach with the Attorney General of Texas after discovering that an unauthorized party accessed—and may have acquired—confidential information… more
On September 9, 2024, the U.S. Securities and Exchange Commission (SEC) announced that it settled charges against seven public companies for alleged violations of Securities Exchange Act Rule 21F-17. According to the SEC, these… more
The California legislature continues to press forward with the implementation of two of the state's sweeping climate disclosure laws after a proposal to delay the implementation dates by the governor failed to be considered by the… more
A federal District Judge for the Northern District of Georgia, Victoria Marie Calvert, awarded a default judgment to the CFPB against USASF, a car loan servicer of loans originated by U.S. Auto Sales Inc., a buy-here, pay-here… more
There must be something in the water or the plaintiff’s bar just had a conference where the keynote speaker addressed strategies for putting pressure on insurers by issuing time-limited demands (“TLD”) because we have been asked by… more
On July 18, 2024, the Internal Revenue Service (IRS) issued final regulations updating the required minimum distribution (RMD) rules. The final regulations reflect changes made by the Setting Every Community Up for Retirement… more
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we start off with a look at the situation in Nebraska surrounding their cannabis ballot initiatives. Then we take a… more
In July, the full U.S. Court of Appeals for the Fifth Circuit found the FCC’s Universal Service Fund (USF) to violate the Constitution in several ways. This decision reversed an earlier decision by a panel of the court upholding the… more
Australia's mandatory climate-related financial disclosure regime is inching closer to implementation after the proposed legislative reforms were passed by both Houses of Parliament in September 2024. As discussed in our previous… more
Businesses selling intoxicating hemp products in New Jersey without a cannabis license could soon face significant fines. Governor Phil Murphy signed Senate Bill No. 3235 on Sept. 12, 2024, regulating intoxicating hemp products under… more
In the realm of mergers and acquisitions (M&A), due diligence is a critical phase where a buyer’s acquisition team assesses potential risks and opportunities before finalizing the terms of an agreement to purchase its target company… more
Today's post is a digression into Roman history and etymology, two of my long-time interests… more
What key patent considerations should one be aware of in view of trends toward nearshoring in the Americas? Learn that and more in this podcast with Procopio Patent Prosecution Partner Ernest Huang joined by two other experts. Topics… more
SBA Proposed Changes to 8(a) Program Impacts Applicants and Participants - As PilieroMazza noted recently here, the Small Business Administration (SBA) released a major proposed rulemaking that will impact government contractors… more
Kalshi is a CFTC registered exchange that allows for the placing of cash bets on a variety of real-world events. Specifically, through what it calls “event contracts,” Kalshi allows users to buy positions on whether an event will or… more
The CFPB issued guidance, titled Improper Overdraft Opt-In Practices, addressing whether a financial institution violates the law if it levies overdraft fees for ATM and one-time debit card transactions based on phantom opt-ins—through… more
On September 18, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a set of frequently asked questions (FAQs) providing guidance on applying Regulation Z requirements to Pay-in-Four Buy Now, Pay Later (BNPL) products… more
On September 19, 2024, Johnson & Wales University (“JWU”) filed a notice of data breach with the Attorney General of Maine after discovering that an unauthorized party accessed its computer network. In this notice, JWU explains that… more
The CFPB has scheduled two sessions to provide a preview of its nonbank enforcement order registry. The virtual-only discussions are scheduled for September 30 and October 9. Both sessions will feature the same content… more
In our recent alert Loan Origination Under AIFMD2: A Guide, on loan origination under the revised Alternative Investment Fund Managers Directive (AIFMD2), we noted that the European Securities and Markets Authority (ESMA) would be… more
Following the U.S. Securities and Exchange Commission ("SEC")'s adoption of the climate-related disclosure rules on March 6, 2024, dozens of parties filed petitions for review across different appellate courts. The Judicial Panel on… more
Recently, the Federal Circuit affirmed a PTAB decision finding that a private sale of a product did not constitute a public disclosure by the inventor of the product. The Leahy-Smith America Invents Act provides exceptions for certain… more
A new digital VAT registration tool has been launched by HMRC that can be used to help businesses work out the effects of registering for VAT. The launch of the tool known as the VAT Registration Estimator came about following… more
The Family and Medical Leave Act does not require employers to allow qualified employees to work remotely. While such requests may fall under the Americans with Disabilities Act’s reasonable accommodation obligation, the FMLA only… more
Philadelphia Mayor Cherelle Parker announced via social media that her administration has reached an agreement with the Philadelphia 76ers over their proposed Center City arena. City Councilmember Mark Squilla (District 1), who… more
The U.S. District Court for the District of Columbia recently found, in what it described as a “question of first impression,” that Section 5(b)(3) of the Toxic Substances Control Act (TSCA), a provision requiring public disclosure of… more
Barry M. Benjamin, managing partner of the New York office and chair of Kilpatrick’s Advertising and Marketing group, was honored to participate recently on a panel at the BBB National Program’s National Advertising Division’s 2024… more
Last month, the Federal Trade Commission (FTC) and U.S. Department of Justice (DOJ) jointly hosted a public meeting of the interagency “Strike Force on Unfair and Illegal Business Practices.” The meeting was a continuation of an… more
The British Virgin Islands (the BVI), along with most other major offshore jurisdictions, has introduced “economic substance” requirements for entities carrying on certain specified activities. This economic substance regime requires… more
New Jersey could be the next state to enact a pay transparency law – which means employers should have an action plan ready for compliance. New Jersey already has one of the most robust pay equity laws in the country, and a bill that… more
On August 31, the California legislature adopted AB 98. Governor Newsom has until September 30, 2024, to sign or veto AB 98. If the bill becomes law, it will have impacts on all warehouse developments, regardless of whether there are… more
How'd that happen? An employer who terminated an employee after he took intermittent FMLA leave for diabetes won its case, and recently won again on appeal. According to both courts, the employee appeared to be trying to play it both… more
Recent developments in the ever-changing landscape of United States immigration policy highlight the ongoing challenges for undocumented immigrants and their families. Two key developments – the status of Deferred Action for Childhood… more
The CFPB settled with student loan servicer Navient Corporation and related entities (collectively, “Navient”) to resolve allegations that its unfair and deceptive service of student loans violated the Consumer Financial Protection Act… more
On September 19, 2024, Governor Gavin Newsom approved Assembly Bill (AB) 1893 (Wicks), which significantly modifies the “Builder’s Remedy” under the Housing Accountability Act (Government Code section 65589.5 et seq.) (HAA), effective… more
The HHS Centers for Medicare & Medicaid Services (CMS) and Wisconsin Physicians Service Insurance Corporation (WPS) are notifying 946,801 people whose protected health information or other personally identifiable information (PII) may… more
UK Financial Insights from Katten is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds in the UK and Europe… more
Whether a construction dispute is subject to arbitration or court litigation, the parties to the dispute will most likely engage in a process to exchange their project files, project-related emails, and a myriad of other… more
Pennsylvania AG Michelle Henry announced the launch of an online portal to report data breaches ahead of the effective date of recent amendments to Pennsylvania’s Breach of Personal Information Notification Act (BPINA)… more
Judge Conrad’s Final Judgment in Airtron, Inc. v. Bradley Allen Heinrich ends this years-long Chapter 75, trade secret case. No doubt, the plaintiff (Airtron) pushed this lawsuit to make a point: if you take our secrets, we will come… more
In a significant decision for the hospitality and restaurant industries, the U.S. Court of Appeals for the Fifth Circuit recently struck down a Department of Labor (DOL) rule regarding the payment of tipped employees. The August 23… more
On September 19, 2024, Governor Gavin Newsom approved Assembly Bill (AB) 2243 (Wicks), which amends AB 2011 (Affordable Housing and High Road Jobs Act of 2022), effective January 1, 2025. As explained in our prior legal alert, AB 2011… more
District of Columbia AG Brian Schwalb settled with Curbio, Inc., to resolve allegations that it deceptively marketed and sold contracts for pre-sale home improvements in violation of the District’s consumer protection laws… more
En este episodio de nuestra serie "A Lo Legal Con Energía", Inés Elvira Vesga, socia del área de Energía y Recursos Naturales, conversa con Juan Camilo Nariño, presidente de la Asociación Colombiana de Minería. Juntos, profundizan en… more
Welcome back to the Law School Toolbox podcast! We have two special guests today, talking about how neurodivergent students can reach their full potential in law school. We're speaking with Heather Varanini, Director of Academic… more
The Department of Commerce’s Bureau of Industry and Security (BIS) recently issued an interim final rule implementing licensing requirements for these emerging technology products for export to all foreign countries. See the full list… more
The California Department of Public Health (CDPH) issued a letter on September 6, 2024, to all general acute care hospitals clarifying the scope of practice for Certified Registered Nurse Anesthetists (CRNAs) following confusion and… more
The FTC settled with Legion Media, LLC, KP Commerce, LLC, and Sloan Health Products, LLC and related individuals and entities to resolve allegations over unauthorized billing schemes for sales of CBD and keto products in violation of… more
Where does creativity fit into compliance? In more places than you think. Problem-solving, accountability, communication, and connection—all require creativity. Join Tom Fox and Ronnie Feldman on Creativity and Compliance, part of the… more
In this episode, Craig Smith and Brian Walsh welcome Diana Shaw, a partner in Wiley's White Collar and Government Investigations practice, who shares insights from her experience as a former Acting Inspector General for the U.S… more
Local and state elected officials, community stakeholders, private developers, and employers are grappling with Ohio’s recognized lack of high-quality, workforce-attainable housing options. While Ohio has been successful in securing… more
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