The Weekly Hill Update - September 2024 #3
Below is this week’s congressional update by BakerHostetler’s Federal Policy team. We’ll continue to post in weeks when both chambers of Congress are in session… more
Below is this week’s congressional update by BakerHostetler’s Federal Policy team. We’ll continue to post in weeks when both chambers of Congress are in session… more
Federal Lawsuit Charges Battery Manufacturer Fired Injured Employee Instead of Providing an Accommodation - ANN ARBOR, Mich. – Navitas Systems, LLC., a company specializing in comprehensive energy storage solutions and battery… more
Wondering what the requirements are for transferring personal information out of Brazil? Under the country’s Data Protection Law, extra-territorial transfers of personal information are regulated in much the same way as in EU Member… more
On 6 June 2024, Ankura, Baker McKenzie, Henderson Chambers, Fladgate LLP, and Shieldpay hosted the panel, "The Next Wave of Mass Claims: Future Trends in Group Litigation” as part of London International Disputes Week 2024… more
Walgreens Settles for $106.8 Million Over FCA Violations - On September 13, the US Department of Justice (DOJ) announced that Walgreens Boots Alliance Inc. and Walgreen Co. (collectively, Walgreens) agreed to pay $106.8 million to… more
The Announcement and Its Sources - Last week, the vice chairman of the Federal Reserve Board, Michael S. Barr, gave prepared remarks at the Brookings Institution announcing a significant recalibration of the Fed's Basel Endgame… more
By law, public schools in the United States must provide services and support for students with special needs. However, some families find that an alternative to public schooling, known as microschools, better suits their specific… more
On August 28, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule that expressly includes certain investment advisers in the definition of a “financial institution” under the Bank… more
On September 20, 2024, the Centers for Medicare & Medicaid Services (CMS) issued a final rule entitled: Misclassification of Drugs, Program Administration and Program Integrity Updates Under the Medicaid Drug Rebate Program. CMS is… more
As the demand for GLP-1 drugs like Ozempic and Wegovy increases with consumers eager to shed pounds, the supplement industry is weighing in. Dietary supplement companies have been considering ways to address this new demand in the… more
On September 9, 2024, the Department of Labor, the Department of the Treasury, and HHS (the Departments) jointly issued a final rule (the Final Rule) amending regulations implementing the Paul Wellstone and Pete Domenici Mental Health… more
Genstar Capital has announced a strategic majority investment in Flourish Research, according to a news release… more
Congress has not passed legislation to fund the federal government for fiscal year 2025 (FY 2025) that begins October 1, 2024. The House of Representatives on September 18 tried — and failed — to pass legislation to fund the government… more
We live in a world where exciting medical research promises to cure cancer, prevent heart attacks, and push back the effects of aging. Sadly, we also live in a world in which “maternity care deserts” are growing across the United… more
Today, encountering a cookie banner is a common experience for most individuals who peruse the internet. These banners inform website users of the presence of cookies or other tracking technologies through language such as, “This… more
What is Child Support, and How Much Can I Expect to Pay or Receive? One of the most common questions posed by parents of minor children who are separated – or who are about to separate – is: what is child support and how much can I… more
The recent amendment to the Corporate Enforcement and Voluntary Self-Disclosure Policy (CEP) of the Department of Justice’s (DOJ’s) Criminal Division expects companies to self-disclose allegations of misconduct within 120 days of… more
The settlement is the latest example of the agency’s enhanced criminal enforcement of money transmitting business and international money-laundering laws. The recent settlement is significant both in terms of its amount and the… more
On August 31, the last day of its 2024 Legislative Session, the California Legislature approved Assembly Bill 3129 (Wood), which provides for notification to and review by the Attorney General of health care transactions involving… more
As the year-end deadline for compliance with the Corporate Transparency Act approaches, boards of cooperatives, condominiums and Homeowners Associations should be aware of the requirements that may affect them. The CTA requires… more
Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Republican AGs Urge EPA to Block CA’s Clean Fleets Regulation… more
Bankruptcy court clarifies Yellow Corp. owes pensions | WSJ - A Del. bankruptcy court stated Yellow Corp. is liable for some portion of the $6.5 billion in withdrawal liability claims, but the exact amount to be paid is yet to be… more
Recent unauthorized Banksy exhibits highlight the ongoing struggle of what obligations society owes to artists. While intellectual property laws primarily provide artists with economic protections and redress, what of artists who are… more
On September 12, 2024, the Internal Revenue Service and Department of the Treasury (collectively, the Government) issued long-awaited proposed regulations (the NPRM), providing guidance regarding application of the corporate… more
On September 11, the Fed announced a written agreement entered by a bank holding company and its Connecticut state-chartered bank, with the Federal Reserve Bank of New York, and the State of Connecticut Department of Banking… more
We have frequently written on AGs interest in AI. In what Texas calls the “first-of-its-kind healthcare generative AI” settlement, the state resolved its investigation into Pieces Technologies’ alleged misleading statements about… more
The Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking (the Proposal) on September 17, 2024, that seeks to strengthen recordkeeping for bank deposits held by nonbank companies on behalf of their… more
On September 11, the CFPB announced that it had entered into a consent order with a national bank resolving allegations that the bank reported inaccurate information to consumer reporting companies. The bank agreed to pay nearly $28… more
The CMS Innovation Center (CMMI) continues to prepare for its next episode-based alternative payment model, the Transforming Episode Accountability Model, or TEAM for short. This five-year model will offer both incentive payments for… more
The German Data Protection Conference (DSK) on September 11, 2024 published guidance on asset deals (the Guidelines) that distinguishes between various stages of a sale process and the relevant personal data that can be shared at each… more
The widespread availability of Artificial Intelligence (AI) tools has enabled the growing use of “deepfakes,” whereby the human voice and likeness can be replicated seamlessly such that impersonations are impossible to detect with the… more
The Beltway Buzz is a weekly update summarizing labor and employment news from inside the Beltway and clarifying how what’s happening in Washington, D.C., could impact your business… more
On September 17, the DOJ announced its withdrawal from the 1995 Bank Merger Guidelines, stating the 2023 Merger Guidelines will be the only authoritative statement across all industries. This decision followed collaboration with the… more
REGULATORY ISSUES & UPDATES - Update on Australia's New Climate-Related Financial Disclosure Regime - Australia's mandatory climate-related financial disclosure regime is inching closer to implementation after the proposed… more
Manute Bol and Gheorghe Mureșan were 7’6” and 7’7”, but were pretty bad players in the NBA. It takes more than height to play basketball… more
Corporations subject to North Carolina’s franchise tax have an opportunity to seek refunds of their 2021 and 2022 franchise taxes but should act promptly to preserve their rights… more
Dear Littler, We are a professional services company with employees in various states. During the pandemic we shifted to fully remote work. As the pandemic subsided, we still leaned into remote work to attract and retain talent who… more
On September 17, 2024, the CFPB issued Consumer Financial Protection Circular 2024-05 on improper overdraft practices. The circular reminded financial institutions of their obligation to retain records that prove the consumer consented… more
The PCAOB has released a new Spotlight on auditor independence, which provides observations from PCAOB inspections regarding independence issues and identifies considerations for both auditors and audit committees. Auditor… more
On September 17, the OCC approved a final rule amending its procedures for reviewing applications under the Bank Merger Act. The rule will aim to provide clearer guidelines for institutions regarding the OCC’s review process for bank… more
On September 17, 2024, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) issued formal statements of policy on reviewing transactions under the Bank Merger Act (BMA). The FDIC… more
With effect from 19 September 2024, the FCA will no longer require London listed closed-ended investment funds to comply with the PRIIPs cost disclosure regime. Statements by the Government and the FCA have introduced regulatory… more
In this episode of The Ethics Experts, Nick welcomes Julie Winkle Giulioni. Throughout her career, Julie has championed workplace growth and development. She operates on the belief that everyone deserves the opportunity to reach… more
The Office of the Comptroller of the Currency (OCC) released guidance regarding its planned changes to the Bank Merger Act (BMA). The New Rule: Explicitly adds financial stability as a key factor for assessing mergers, reflecting… more
The Inflation Reduction Act (IRA) made several changes to Medicare Part D that may impact whether employer-sponsored coverage will be creditable for the 2025 plan year. With open enrollment season about to begin, plan sponsors that… more
On September 4, the California Privacy Protection Agency (“CPPA”) issued an Enforcement Advisory cautioning businesses against the use of “dark patterns” in their consumer-facing user interfaces. The California Consumer Privacy Act… more
On September 13, the Fed, OCC and the FDIC (the agencies) released a notice extending the comment period of their request for information regarding bank-fintech arrangements by one month. The notice extends the original deadline to… more
Key Points: Pennsylvania Supreme Court recently evaluated the no felony conviction recovery rule. No felony conviction recovery rule bars medical malpractice and indemnification claims brought against murderer’s medical providers… more
The National Lime Association (“NLA”) filed on September 13th a Petition for Review (“Petition”) before the United States Court of Appeals for the D.C. Circuit challenging the United States Environmental Protection Agency’s (“EPA”)… more
The Development: Recently, the Australian Competition and Consumer Commission ("ACCC") published draft guidelines designed to assist businesses to understand how they can collaborate on sustainability initiatives without breaching… more
Last week, the Colorado Supreme Court issued a highly anticipated decision, finding that the “regular rate of pay” under Colorado law does include holiday incentive pay for purposes of calculating overtime. The Tenth Circuit, which is… more
Trending in Telehealth highlights state legislative and regulatory developments that impact the healthcare providers, telehealth and digital health companies, pharmacists, and technology companies that deliver and facilitate the… more
On September 17, the CFPB issued a circular stating that financial institutions can be found liable for violating the Electronic Funds Transfer Act by charging overdraft fees if the there is no proof of consumers’ affirmative consent… more
In the hearing on the appeal of the U.S. Copyright Office's refusal to register his AI-created artwork ("A Return to Paradise," a copy of which appears above) and the district court's affirming of the refusal, programmer Stephen… more
The Public Employees for Environmental Responsibility (“PEER”) filed in June a Judicial Action in the United States District Court for the District of Columbia (“Court”) arguing that the United States Environmental Protection Agency… more
On August 31, the California Assembly and Senate passed SB 219, which provides for the following notable changes to the climate disclosure laws, among others: Gov. Gavin Newsom has until September 30 to sign or veto SB 219. We expect… more
California is on the verge of adding yet one more prohibited employment practice to the California Fair Employment and Housing Act (FEHA). On September 9, 2024, the California Legislature presented Governor Gavin Newsom with… more
Where a debt is due under an agreement (and assuming there is no binding non-petition clause in effect), it is possible to take steps to wind up the company without first proceeding to arbitration, in accordance with the relevant… more
Alessandria San Roman Shares Her Cuban-American Journey and Its Influence on Her Legal Career
FCPA Compliance Report: Jon May Critiques The DOJ Whistleblower Financial Incentive Program
FCPA Compliance Report: Jon May Critiques The DOJ Whistleblower Financial Incentive Program
Compliance Tip of the Day: Everything Old is New Again: The John Deere FCPA Enforcement Action
Daily Compliance News: September 23, 2024 – The That Old Time Religion Edition
Episode 337 -- Nicolas Garcia, GC at Orica, on Compliance Trends and Challenges in Latin America