Morgan Lewis

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2222 Market St.
Philadelphia, PA 19103-3007, United States
Phone: 215.963.5000
Fax: 215.963.5001
Practice Groups
Areas Of Practice
  • Administrative Law
  • Alternative Dispute Resolution (ADR)
  • Antitrust & Trade Regulation
  • Appellate Practice
  • Art, Entertainment, & Sports Law
  • Bankruptcy
  • Business Organizations
  • Civil Rights
  • Class Action
  • Commercial Law & Contracts
  • Communications & Media Law
  • Constitutional Law
  • Debtor/Creditor
  • Education
  • Elections & Politics
  • Energy & Utilities
  • Environmental Law
  • Finance & Banking
  • Government
  • Health
  • Immigration Law
  • Indigenous Peoples
  • Insurance
  • Intellectual Property
  • International Law & Trade
  • Labor & Employment Law
  • Litigation
  • Mergers & Acquisitions
  • Privacy
  • Products Liability
  • Real Estate
  • Securities Law
  • Taxation
  • Toxic Torts
  • Transportation
  • Workers' Compensation
See more
Locations
Other U.S. Locations
  • California
  • Connecticut
  • D.C.
  • Delaware
  • Florida
  • Illinois
  • Massachusetts
  • New Jersey
  • New York
  • Pennsylvania
  • Texas
  • Washington
Other Countries
  • Belgium
  • China
  • France
  • Germany
  • Hong Kong
  • Japan
  • Kazakhstan
  • Singapore
  • United Arab Emirates
  • United Kingdom
Number of Attorneys
1,000+ Attorneys

Current Developments in SEC Examinations & Enforcement: A Special Report for Private Funds 2022-2023

Private funds were a major focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect 2023 to be even more active. The Division of Examinations’ 2023…more

Broker-Dealer, CFTC, Fund Managers, Investment Adviser, Investment Management

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FDA’s Orange Book Listing Process: FTC Formally Joins the Fray

The Federal Trade Commission (FTC), supported by the Food and Drug Administration (FDA), issued a policy statement on September 14 indicating that the FTC intends to “scrutinize improper Orange Book listings” to identify…more

Abbreviated New Drug Application (ANDA), Federal Trade Commission (FTC), Food and Drug Administration (FDA), FTC Act, Life Sciences

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

Antidiscrimination Laws Cannot Compel Businesses to ‘Express’ Messages They Disagree With

The US Supreme Court on June 30 sided with a website designer who claimed the First Amendment shielded her from liability under state civil rights laws for refusing to create wedding websites for same-sex couples…more

303 Creative LLC v Elenis, Anti-Discrimination Policies, First Amendment, Public Accommodation, Religious Beliefs

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Sovereign Wealth Funds Insights - July 2023

With concerns about global economic stability, many sovereign wealth funds (SWFs) are evaluating current market conditions to determine the most effective investment strategies. Diversification is a common theme for many fund…more

Investment, Investment Management, Investors, Securities and Exchange Commission (SEC), Sovereign Wealth Funds

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Window of Opportunity Available for Reducing 2023 PBGC Premiums

Single-employer defined benefit pension plans that have elected to use the “alternative method” for determining Pension Benefit Guaranty Corporation (PBGC) premiums have a window to take action that may significantly reduce…more

Employee Benefits, PBGC, Pensions, Retirement Plan

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Supreme Court Won’t Hear Nextel’s Challenge to PA’s Cap on Net Operating Loss Carryforwards

Following the US Supreme Court’s denial of cert in Nextel, taxpayers with protective refund claims held pending the ultimate outcome of Nextel will need to re-evaluate their claims as Pennsylvania begins to address them…more

Appeals, Net Operating Losses, Nextel, PA Supreme Court, SCOTUS

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NRC OI Annual Report: Significant Jump in Materials Licensee and Discrimination Investigations for FY 2023

The NRC’s Office of Investigations (OI) recently published its Annual Report for fiscal year 2023, summarizing its activities from October 1, 2022 through September 30, 2023. According to the annual report, OI opened 82 new…more

Atomic Energy Act, Energy Sector, Investigations, Nuclear Power, Nuclear Regulatory Commission

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SEC Modernizes Framework for Fund Valuation Practices

Financial markets and fund investment practices have changed substantially since the US Securities and Exchange Commission (SEC) last addressed fund valuation comprehensively 50 years ago. In adopting Rule 2a-5 on December 3,…more

Business Development Companies, Corporate Governance, Investment Company Act of 1940, Investment Funds, Securities and Exchange Commission (SEC)

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2017 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases…more

Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Penalties, Securities and Exchange Commission (SEC)

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Illinois Expands Worker Protection Obligations of Companies Contracting with Day and Temporary Labor Service Agencies

Illinois recently issued legislation expanding the information sharing and safety training obligations of companies that contract with day and temporary labor service agencies…more

Employer Liability Issues, State Labor Departments, State Labor Laws, Temporary Employees

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California Announces Substantial Increase in Compensation Rate for Computer Professional Exemption in 2023

California employers must ensure that compensation rates for computer professionals meet new salary thresholds, effective January 1, 2023. As inflation continues to rise, so too have the minimum wage thresholds for the…more

Department of Labor (DOL), Exempt-Employees, Fair Labor Standards Act (FLSA), Highly Compensated Employees, Minimum Salary

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Reminder: California Noncompete Deadline Is February 14

Besides being Valentine’s Day, February 14, 2024 is an important day for employers with any California employees: It is the last day for employers to notify California employees (including former employees who were employed…more

California, Employer Liability Issues, Employment Contract, Non-Compete Agreements, Restrictive Covenants

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DC Circuit Vacates Affordable Clean Energy Rule, Revives Clean Power Plan

The US Court of Appeals for the DC Circuit held that EPA’s interpretation that emissions controls under Section 111 of the Clean Air Act must be limited to those that can be applied “at” and “to” a stationary source was…more

Clean Energy, Clean Power Plan, Environmental Policies, Environmental Protection Agency (EPA), Greenhouse Gas Emissions

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California Further Bolsters its Prohibitions on Noncompete Agreements

On the heels of the enactment of Senate Bill 699, which fortified California’s restrictions on noncompete agreements and other restrictive covenants and provided additional employee protections, California has once more…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Non-Solicitation Agreements, Restrictive Covenants

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COVID-19 in Germany: The Employment Law Response – So Far

The coronavirus (COVID-19) pandemic challenges people, economies, and governments across the globe. This LawFlash highlights the actions affecting employers and employees that the German federal government has taken, or is about…more

Coronavirus/COVID-19, Germany, International Labor Laws, Social Distancing, Wage and Hour

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Silicon Valley Bank Collapse: Initial Issues Raised

The California Department of Financial Protection & Innovation on March 10 declared Silicon Valley Bank insolvent and appointed the FDIC as receiver. To help with the resolution of SVB, the FDIC created the Deposit Insurance…more

Banking Sector, Deposit Insurance, Disclosure Requirements, FDIC, Financial Crisis

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High-stakes Game: IRS ‘goes on the Offense’ Against Sports Industry Partnership Losses

Sports industry partnerships are now on notice that the Internal Revenue Service (IRS) is initiating specialized, issue-based BBA partnership examinations focusing on their income and deductions…more

Income Taxes, IRS, Tax Deductions, Tax Planning, Tax Returns

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Contract Corner: Exceptions to Unenforceability of Termination in the Event of Bankruptcy Clauses (Part 2)

In Part 1, we discussed how, despite widespread usage, termination in the event of bankruptcy clauses (“ipso facto” clauses) are generally unenforceable pursuant to the bankruptcy code. In this second part, we discuss why these…more

Bankruptcy Code, Commercial Bankruptcy, Executory Contracts, Ipso Facto Clauses

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Medicare’s New Dementia GUIDE Model: How Can Physicians, Hospices, and Home Health Agencies Participate?

If you have had a loved one suffer from dementia, you know the emotional, physical, and financial toll of this terrible disease. With advancements in dementia treatment, however, there is renewed hope on addressing this disease…more

Centers for Medicare & Medicaid Services (CMS), Dementia, Health Care Providers, Home Health Care, Medicare

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Paycheck Protection Program Loans: Advice for Borrowers and Lenders

Both borrowers and lenders need to be aware of issues arising from a new US government loan program for small businesses relative to existing capital structures, although some guidance also is not yet available. Both borrowers…more

Business Interruption, CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus

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Day 4 Dispatch from CERAWeek: Insights from Bill Gates and Closing Thoughts

In our final dispatch from the CERAWeek conference by S&P Global, Felipe Alice shared some insights and key takeaways from a luncheon and dialogue session featuring tech entrepreneur, investor, and philanthropist Bill Gates…more

Energy Projects, Energy Sector, Renewable Energy, Solar Energy, Wind Power

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Remote and Hybrid Work: FINRA Announces Effective Dates of New Rules

The die is cast: FINRA has published Regulatory Notice 24-02 (RN 24-02) announcing the effective dates and other key dates and considerations for its recently adopted Residential Supervisory Location (RSL) and Remote Inspection…more

Banking Sector, Financial Industry Regulatory Authority (FINRA), Financial Services Industry

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Statement of Changes to UK Immigration Rules Announced (Updated)

The UK government published a Statement of Changes to the Immigration Rules, providing details for the much-anticipated changes to sponsored worker salary thresholds, the new Immigration Salary List, and increased income…more

Foreign Nationals, Foreign Workers, Immigrants, Immigration Procedures, UK

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FTC Letters to Endorsers Highlight Need for Transparency in Social Media Advertising

The Federal Trade Commission sent letters to online influencers and marketers regarding disclosure obligations in social media endorsements…more

Advertising, Endorsements, Federal Trade Commission (FTC), FTC Endorsement Guidelines, Marketing

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How to Develop Partner-Ready Patent Estates

For our third and final Biotech Week Boston post, partner Stephen Altieri—one of the many within our 250-member-strong comprehensive cross-practice life sciences team with an advanced scientific degree—discusses efficient patent…more

Intellectual Property Protection, Patent Infringement, Patents, Pharmaceutical Industry, Pharmaceutical Patents

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Metaverse: A Jumpstart Guide to Intellectual Property, Antitrust, and International Considerations

The term “metaverse” first appeared in Neal Stephenson’s dystopian novel Snow Crash in 1992. Two decades later, the metaverse has evolved from a concept in print into an interactive and immersive reality. Its hyper-realistic…more

Corporate Branding, Cryptocurrency, Digital Assets, Intellectual Property Protection, Metaverse

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California Enacts Pre-Closing ‘Mini-HSR Act’ for Retail Grocery and Pharmacy Transactions

California enacted AB 853, which requires merging parties in retail grocery and pharmacy-related transactions (presumably with a nexus to California) that meet certain thresholds to notify the California attorney general and…more

Acquisitions, California, Governor Newsom, Mergers

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Global Privacy: Year in Review and a Look Forward, 2023–2024

The world is witnessing a flurry of activity surrounding issues of data protection, cybersecurity, artificial intelligence (AI), and consumer privacy. According to the National Conference of State Legislators, some 40 US states…more

Corporate Counsel, Cyber Threats, Cybersecurity, Data Breach, Data Privacy

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Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

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IRS, Treasury Issue Guidance on ‘Business Interest Expense’ Limitation

The US Department of the Treasury and the Internal Revenue Service on April 2 issued “Initial Guidance Under Section 163(j) as Applicable to Taxable Years Beginning After December 31, 2017” (Notice 2018-28), which announces the…more

IRS, Legitimate Business Interest, U.S. Treasury

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DOJ Targeting Private Equity Firms in False Claims Act Litigation

A recent complaint by the US Department of Justice against private equity firm Riordan, Lewis & Haden signals that such firms could be a new class of defendants in False Claims Act cases. Private equity firms are thus…more

Department of Justice (DOJ), False Claims Act (FCA), Private Equity Firms

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New York Passes Name, Image, and Likeness Law for College Athletes

The New York Collegiate Athletic Participation Compensation Act allows student athletes at colleges in New York to receive compensation for their name, image, and likeness and to use agents for endorsement deals—without…more

Athletes, College Athletes, Endorsements, Intellectual Property Protection, Name and Likeness

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Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true…more

Investment, Investors, Japan, Limited Partnerships, Partnerships

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

New HSR Form Will Transform the US Merger Review Process

The Federal Trade Commission (FTC) has proposed sweeping new Hart­-Scott-Rodino Act (HSR) rules along with a new proposed HSR form that would completely change the HSR process. The proposed form—which the FTC prepared in…more

Antitrust Division, Antitrust Provisions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act

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Contract Corner: Additional Contracting Tips for AI in Service Agreements

It is no secret that usage of artificial intelligence (AI) technologies continues to expand at a rapid pace. In fact, Flexera’s 2023 Tech Spend Pulse, which is based on a survey of 506 information technology executives across…more

Artificial Intelligence, Data Security, Innovative Technology, Machine Learning

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CAL/OSHA ‘Readopts’ Standards That Now Account for Fully Vaccinated Employees in the Workplace

The Cal/OSHA Standards Board voted on June 17 to “readopt” the COVID-19 Prevention Emergency Temporary Standards (ETS) with several revisions that brought the ETS rules for fully vaccinated employees more in line with the…more

Cal-OSHA, Coronavirus/COVID-19, Employer Liability Issues, Executive Orders, Governor Newsom

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The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

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US Government Continues to Crack Down on Insider Trading with Four Coordinated Actions

The US Securities and Exchange Commission (SEC) and Department of Justice (DOJ) on June 29, 2023 brought insider trading charges against several defendants in four proceedings. The insider trading cases demonstrate key focus…more

Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions, Insider Trading, Securities and Exchange Commission (SEC)

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UK Competition and Markets Authority Publishes Provisional Roadmap for Digital Markets Regime

The UK Competition and Markets Authority (CMA) published a roadmap on January 11, 2024 setting out its provisional approach for the implementation of Part 1 of the Digital Markets, Competition and Consumers Bill (DMCC). The…more

Competition, Competition Authorities, Mergers, UK, UK Competition and Markets Authority (CMA)

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Renewable Power in Türkiye – a Brief Overview

Türkiye’s renewable energy market has experienced substantial growth with renewable electricity generation nearly tripling in the last decade. Turkish Electricity Transmission Co. (TEİAŞ) General Directorate data shows that as…more

Clean Energy, Electricity, Energy Projects, Energy Sector, Renewable Energy

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True Lender Rule Invalidated

Congress has enacted and President Joseph Biden has signed a joint resolution of disapproval under the Congressional Review Act (CRA) of the Office of the Comptroller of the Currency’s (OCC’s) “true lender” rule, which, as we…more

Congressional Review Act, FDIC, Financial Regulatory Reform, Financial Services Industry, FinTech

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The ‘Three Pillars’ of EAC Use and the Proposed Regulations for Clean Hydrogen Tax Credit

The Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) published proposed regulations (the Proposed Regulations) in late December 2023 setting forth rules that would apply to the tax credits for…more

Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits, IRS

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DOJ COVID-19 Fraud Enforcement Task Force Releases Report on Combating Fraud

The US Department of Justice’s (DOJ’s) COVID-19 Fraud Enforcement Task Force (CFETF) released a report on April 9 summarizing its efforts to identify, investigate, and prosecute fraud related to COVID-19 relief programs. DOJ’s…more

Coronavirus/COVID-19, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions, Fraud

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Grants Power Up EV Adoption, but Compliance Requirements Remain

Thanks to the 2021 Bipartisan Infrastructure Law, billions of dollars of government funding are available for electric vehicle (EV) charging projects as part of an effort to supercharge EV adoption in the United States. Two…more

Automotive Industry, Charging Stations, Electric Vehicles, Federal Contractors, Infrastructure

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

See all updates »

EU Launches Two More In-Depth Investigations Under Foreign Subsidies Regulation

Just months after its first investigation under the Foreign Subsidies Regulation of Chinese train maker CRRC Corp. (see our LawFlash here), the European Commission has targeted two more companies participating in an EU tender,…more

Acquisitions, Competition, Corporate Counsel, European Commission, Foreign Subsidies

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US, UK, and EU Collective Actions in the Privacy and Cybersecurity Space

Unlike the United States, the United Kingdom and, so far, the EU Member States do not all have domestic class action regimes or a cross-border class action regime (as detailed below), and instead have collective actions. While…more

Class Action, Cybersecurity, Data Privacy, Data Protection, Data Security

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Kazakhstan Government Introduces Changes to Standard Form of Power Purchase Agreement

This LawFlash summarizes key takeaways from the recent amendments by the Kazakhstan government to the standard form of the power purchase agreement (PPA) for energy-producing organizations using renewable energy sources (RES)…more

Energy Sector, Kazakhstan, Power Purchase Agreements, Purchase Agreement, Sellers

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ESG and Group Action Developments: What You Need to Know

This Insight discusses the growth and development of class and collective actions and considers future trends in the United States, the European Union, and the United Kingdom…more

Advertising, Environmental Social & Governance (ESG), Federal Trade Commission (FTC), Green Guides, Sustainability

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

2019 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2019, post-grant proceedings have been in use for seven years. Designed as an alternative to district court litigation, post-grant proceedings have offered litigants a faster and more cost-effective forum for resolving…more

Claim Construction, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board, Patents, Post-Grant Review

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Massachusetts Provides Guidance for Phases II–IV of Reopening Plan

Massachusetts is beginning to prepare for the next phase of its four-phase reopening plan. On June 1 Governor Charlie Baker issued an order allowing Phase II businesses to open their locations to workers to prepare for…more

Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities, Hospitality Industry, Re-Opening Guidelines

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Delaware River Basin Commission Converts Fracking Moratorium into Permanent Ban

The Delaware River Basin Commission (DRBC) on February 25, 2021, approved a new regulation formally prohibiting high-volume hydraulic fracturing (HVHF), or fracking, in the Delaware River Basin. The final rule makes permanent a…more

Energy Policy, Energy Reform, Environmental Liability, Environmental Policies, Fracking

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Delaware Supreme Court Holds MFW Doctrine Applies to Any Controlling Stockholder Transaction Resulting in Non-Ratable Benefit

In a case with implications for companies with controlling stockholders, the Delaware Supreme Court held that the MWF Doctrine applies to any transaction involving a controlling shareholder receiving a non-ratable benefit, and…more

Business Judgment Rule, Controlling Stockholders, Entire Fairness Standard, Standard of Review

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Main Street Lending Program (UPDATED)

This White Paper gives a broad understanding of the terms and implications of the Main Street Lending Program by delving into the key questions market participants are likely to have and addressing the latest changes implemented…more

Coronavirus/COVID-19, FRB, Main Street Lending Programs, Main Street New Loan Facility, Relief Measures

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Preparing for SEC’s Clawback Policies: 10 Compliance Tips for Public Companies

Last fall, the US Securities and Exchange Commission (SEC) announced that it had adopted new rules directing national securities exchanges, including the New York Stock Exchange (NYSE) and Nasdaq, to establish listing standards…more

Clawbacks, Executive Compensation, Incentive Compensation, Nasdaq, NYSE

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What to Expect When Licensing a Discovery from a University

Today marks the kickoff of the Biotech Week Boston event series, and for the rest of the week our As Prescribed blog will feature posts exclusively from our Boston life sciences lawyers. Local partners Michael Barron, Laurie…more

Intellectual Property Protection, Life Sciences, Patents

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Federal Judge Rules D&O Coverage for Wrongful Acts Extends to Responding to Government Subpoenas

US District Judge Manish S. Shah in the Northern District of Illinois last week denied insurers’ motion to dismiss a pharmaceutical company’s action seeking insurance coverage for the costs associated with responding to a US…more

D&O Insurance, Insurance Industry, Subpoenas

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Procrastinators Rejoice Part II: IRS Extends CARES Act Amendment Deadlines for Loan Relief and COVID-19-Related Distributions

As described in our prior blog post, the US Internal Revenue Service (IRS) recently extended many impending amendment deadlines for legislative changes made by the Setting Every Community Up for Retirement Enhancement Act of…more

Benefit Plan Sponsors, CARES Act, Employee Benefits, Individual Retirement Account (IRA), IRS

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Grants Power Up EV Adoption, but Compliance Requirements Remain

Thanks to the 2021 Bipartisan Infrastructure Law, billions of dollars of government funding are available for electric vehicle (EV) charging projects as part of an effort to supercharge EV adoption in the United States. Two…more

Automotive Industry, Charging Stations, Electric Vehicles, Federal Contractors, Infrastructure

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Tax Considerations and Pitfalls to Avoid for Fintech Startups

Creating a financial technology (fintech) firm comes with a host of tax considerations and implications. Decisions about the business’s structure, along with the location of both the business itself as well as its employees, can…more

FinTech, Limited Liability Company (LLC), Startups, Tax Planning

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Inflation Reduction Act Guidance Proposed on Direct Payment for Energy Credits

The Inflation Reduction Act of 2022 opened up many energy credit opportunities for tax-exempt organizations. The Internal Revenue Service (IRS) and US Treasury Department released on June 14, 2023 proposed regulations on the…more

Clean Energy, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits

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New York State Year-End Legislative Developments for Employers to Know

New York recently enacted a number of laws and rules affecting New York employers, many of which took effect immediately. Some of these laws are significant, including changes to the confidentiality preference agreements…more

Corporate Counsel, Employee Rights, Employer Liability Issues, Employment Discrimination, Separation Agreement

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California Supreme Court Ruling Gives Guidance on Compensable Time Under California Law

The California Supreme Court issued its decision in Huerta v. CSI Electrical Contractors, providing further guidance to employers on when employee time spent in (1) security exit procedures, (2) traveling on employer property,…more

CA Supreme Court, Employer Liability Issues, Labor Code, State Labor Laws, Wage and Hour

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SEC Adopts Extensive Revisions To Rules Governing Financial Information Of Acquired And Disposed Businesses

The US Securities and Exchange Commission on May 20, 2020 adopted a series of amendments to its rules and forms relating to disclosure requirements for financial statements relating to acquisitions and dispositions of…more

Corporate Governance, Disclosure Requirements, Financial Statements, Publicly-Traded Companies, Securities and Exchange Commission (SEC)

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IP and Commercial Contract Litigation Developments and Trends: What Transactional Lawyers Should Know

As part of our Spotlight series, we invited litigation partners Dana E. Becker (Philadelphia), Shon Lo (Chicago), and Krista Vink Venegas, Ph.D. (Chicago), to talk about recent trends and issues in IP-related and other…more

Commercial Contracts, Contract Drafting, Contract Terms, IP License, Non-Disclosure Agreement

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California Increases Paid Sick Leave Entitlements

Governor Gavin Newsom recently signed SB 616, which amends California’s Healthy Workplaces, Healthy Families Act of 2014 by increasing the amount of paid sick leave employers must provide to eligible California employees…more

Employer Liability Issues, Paid Leave, Sick Leave, State Labor Laws, Wage and Hour

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Federal Trade Commission Focuses on Gig Work

The Federal Trade Commission’s September 15 policy statement is the latest in a series of actions signaling the Commission’s continued focus on competition and labor issues in the gig economy. The policy statement—and the FTC’s…more

Competition, Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ), Federal Trade Commission (FTC), Gig Economy

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ESG Investing: The US Regulatory Perspective

As companies increasingly encounter dialogue regarding environmental, social, and governance (ESG) factors, they and their investors and other stakeholders face the task of navigating the sometimes-contradictory web of…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Environmental Social & Governance (ESG), Fiduciary Duty

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

See all updates »

DC Mayor Signs Amendments to DC Code on Pay Transparency and Wage History

Washington, DC, Mayor Muriel Bowser signed legislation on January 12 requiring that all covered employers must disclose pay ranges in all job postings and advertisements and also disclose the existence of any additional benefits…more

Employer Liability Issues, Pay Transparency, Salary/Wage History, Wage and Hour

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Recent ESG Developments: What Nonprofits Should Know

While none of the recent environmental, social, and governance (ESG) developments with respect to organizations under some sort of regulatory oversight—including public companies and retirement plans—is directly relevant to…more

Corporate Governance, Department of Labor (DOL), Disclosure Requirements, Environmental Social & Governance (ESG), Nonprofits

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Luxembourg’s Financial Services Regulator Enhances ICT Incident Reporting Framework

New ICT incident reporting requirements under Circular 24/847 (Circular) of the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s financial regulator, will come into effect on April 1. This introduces a new…more

CSSF, Financial Institutions, Investment Firms, Investment Funds, Luxembourg

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Hague Securities Convention’s Impact on Secured Transactions Choice-of-Law Rules

Choice-of-law rules for security interests in security entitlements in securities credited to security accounts will change on April 1, 2017 when the Hague Securities Convention comes into effect…more

Choice-of-Law, Hague Convention, Securities, Uniform Commercial Code (UCC)

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State and Local Survey of Laws Regulating Escooter Sharing Services

The growth and use of electric scooters (escooters) for personal transportation has exploded over the last several years. Much of this growth has been driven by escooter sharing companies, which, rather than pursuing a model of…more

Critical Infrastructure Sectors, E-Scooters, Educational Institutions, Green Transportation, Innovative Technology

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DOJ’s Rescission of Longstanding Guidance Creates Uncertainty for Market Benchmarking Activities

The US Department of Justice (DOJ) Antitrust Division is withdrawing three enforcement policy statements that provided important guidance on the exchange of competitively sensitive information through third parties. The guidance…more

Antitrust Division, Antitrust Provisions, Competition, Department of Justice (DOJ), Enforcement Actions

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Proxies, Pay, and the Brave New World of ESG

Environmental, social, and governance (ESG) matters are now the subject of significantly greater regulatory scrutiny and are becoming a more prominent part of public companies’ mandatory filings, shareholder proposals, and…more

Annual Meeting, Climate Change, Corporate Governance, Corporate Social Responsibility, Environmental Social & Governance (ESG)

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Taking a Trip into the Future of Psychedelics

The development of psychedelic drugs for medicinal uses has substantially expanded since 2020, as evidenced by an exponential growth in Drug Enforcement Administration (DEA) production quotas for both psilocybin and psilocin. In…more

Controlled Substances, Controlled Substances Act, DEA, Life Sciences, Pharmaceutical Industry

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Biden Administration Updates Paycheck Protection Program to Focus on Underserved Businesses

Following the enactment of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act in December 2020, the Biden administration announced several changes to the Paycheck Protection Program on February 22, 2021…more

Biden Administration, CARES Act, Coronavirus/COVID-19, Federal Loans, Paycheck Protection Program (PPP)

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California Employers: New Law Limits NDAs in Settlement & Severance Agreements

California Governor Gavin Newsom on October 7 signed Senate Bill 331, which will prohibit employers from (1) including in a settlement agreement a clause that restricts an employee’s right to disclose information about…more

Cal Code of Civil Procedure, Confidential Information, Employer Liability Issues, Governor Newsom, Hiring & Firing

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2019 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2019, post-grant proceedings have been in use for seven years. Designed as an alternative to district court litigation, post-grant proceedings have offered litigants a faster and more cost-effective forum for resolving…more

Claim Construction, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board, Patents, Post-Grant Review

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DOE Issues Update to Consent-Based Site Process for Spent Nuclear Fuel

The US Department of Energy’s Office of Nuclear Energy recently issued an update to its “road map for implementing a consent-based siting process” to site one or more federal interim storage facilities for spent nuclear fuel…more

Department of Energy (DOE), Electricity, Energy Policy, Energy Sector, Energy Storage

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AIFMD II Enters into Force: Key Changes to EU Fund Regime

After several years of negotiations between the European Commission, European Council, and European Parliament following the publication of the initial draft proposal in November 2021, AIFMD II was published in the Official…more

Alternative Investment Fund Managers Directive (AIFMD), EU, European Economic Area (EEA), Investment Funds

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Blockbuster Biologics Review - Issue 22

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to…more

Biologics, Biosimilars, Intellectual Property Protection, Life Sciences, Patent Infringement

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That’s a Wrap: FDA Announces Phase-Out of PFAS in Certain Food-Packaging Materials

The US Food and Drug Administration (FDA) recently announced that manufacturers have completed the voluntarily phase-out of the use of certain per- and polyfluoroalkyl substances (PFAS) in grease-proofing agents for food…more

Food and Drug Administration (FDA), Food Manufacturers, Food Safety, Hazardous Substances, PFAS

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European Commission Publishes Report on the Functioning of the EU Securitisation Regulation

The European Commission recently published its long-anticipated report to the European Parliament and the Council of the European Union on the functioning of the EU Securitisation Regulation. The report contains important…more

Capital Markets, EU, European Commission, European Securities and Markets Authority (ESMA), Securitization

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Lanham Act Only Extends to Claims Stemming from US Conduct that Causes a Likelihood of Confusion

The US Supreme Court unanimously overturned a $90 million verdict for trademark infringement under the Lanham Act, 97% of which was attributed to purely extraterritorial conduct. While the holding attempts to draw a bright-line…more

Abitron Austria GmbH v Hetronic International Inc, Extraterritoriality Rules, Foreign Sales, Intellectual Property Protection, Lanham Act

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California Supreme Court Shuts Down Consumer Sales Tax Suit

Dear Retail Clients and Friends: The California Supreme Court recently ruled that consumers cannot file suit to force a retailer to seek a refund of sales taxes from the California tax agency absent a determination by the…more

CA Supreme Court, Retailers, Sales Tax

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Issuers Should Review Risk Factor Disclosures Amid US–China Tensions

Geopolitical, trade, and investment tensions between the United States and China continue due to differences on such issues as the Russia-Ukraine conflict, Taiwan, Xinjiang, Hong Kong, Tibet, the South China Sea, human rights,…more

CFIUS, China, Disclosure Requirements, Export Controls, Foreign Direct Investment

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Appellate Court Holds Servicers Can Set Aside Litigation Reserves

The Minnesota Court of Appeals affirmed in a recent case that the securitization agreements at issue authorized the creation of reserves to ensure that the securitization trust could meet its contractual obligation to indemnify…more

Appeals, Indemnification, Investors, Securitization

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State Attorneys General Fly into Previously Federal Airspace

The Department of Transportation and 18 states on April 16 agreed to a Memorandum of Understanding (MOU) that delegates more authority to and streamlines the process for state attorneys general to investigate consumer complaints…more

Airlines, Aviation Industry, Department of Transportation (DOT), Memorandum of Understanding, State Attorneys General

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Retail Did You Know? CARES Act Provides Important Relief for Retail & Hospitality Companies

Dear Retail Clients and Friends, This edition of Morgan Lewis Retail Did You Know? examines how the Coronavirus Aid, Relief, and Economic Security (CARES) Act impacts companies in the retail and hospitality sector..…more

Business Closures, CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus

See all updates »

Could Sponsoring a Pooled Employer Plan Grow Your Business?

While large financial institutions with significant expertise in retirement plan administration are widely expected to sponsor most pooled employer plans (PEPs), other firms (such as franchisors, gig economy employers, joint…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), PEP

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IRS Issues Important Reminder on Application of IRC Section 415(c) Limit to 403(b) Plans

The Internal Revenue Service (IRS) issued an important reminder of the unique application of the limit under Internal Revenue Code (IRC) Section 415(c) to 403(b) plans on August 20, 2021. The IRS’s “Issue Snapshot” highlighted a…more

403(b) Plans, Benefit Plan Sponsors, Compensation & Benefits, Defined Contribution Plans, Employee Benefits

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Congress Codifies SEC Staff's M&A Broker No-Action Letter ... With a Tweak

As many are aware, Congress passed its own version of the US Securities and Exchange Commission (SEC) staff’s mergers and acquisitions (M&A) broker no-action letter in December 2022, creating a new exemption from broker…more

Broker-Dealer, Brokers, EBITDA, Investment Adviser, No-Action Letters

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Delaware Supreme Court Holds MFW Doctrine Applies to Any Controlling Stockholder Transaction Resulting in Non-Ratable Benefit

In a case with implications for companies with controlling stockholders, the Delaware Supreme Court held that the MWF Doctrine applies to any transaction involving a controlling shareholder receiving a non-ratable benefit, and…more

Business Judgment Rule, Controlling Stockholders, Entire Fairness Standard, Standard of Review

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The DC Circuit Affirms the FCC’s Open Internet Rules

The court upholds the FCC’s authority to regulate internet access services as telecommunications carriers and impose restrictions on blocking and throttling internet content…more

Broadband, FCC, Free Speech, Internet, Internet Service Providers (ISPs)

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SEC Charges Investment Advisers with Making False and Misleading Statements About Their Use of AI

On March 18, the US Securities and Exchange Commission (SEC) announced the first AI-related settled actions against two investment advisers—Delphia (USA) Inc. and Global Predictions Inc.—for making false and misleading…more

Enforcement Actions, False Statements, Investment Adviser, Misleading Statements, Securities and Exchange Commission (SEC)

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Assessing Your Health Plan’s Service Provider Compensation

Based on new ERISA disclosure rules, now is a good time to review the compensation paid to your health plan’s consultant and broker. ERISA Section 408(b)(2)(B) requires brokers and consultants expecting $1,000 or more in direct…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

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The DC Circuit Affirms the FCC’s Open Internet Rules

The court upholds the FCC’s authority to regulate internet access services as telecommunications carriers and impose restrictions on blocking and throttling internet content…more

Broadband, FCC, Free Speech, Internet, Internet Service Providers (ISPs)

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Current Developments in Sec and Finra Examinations & Enforcement 2022–2023 - A Special Report for Investment Advisers and Broker-Dealers

Registered entities continued to be a significant focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect similar attention this year. The SEC’s…more

Administrative Law Judge (ALJ), Broker-Dealer, CFTC, Cybersecurity, Disgorgement

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Digital Health Trends to Watch in 2022

In the digital health market, new trends reveal future opportunities for innovators and shape healthcare investors’ strategies. Trends for 2022 include regulatory developments regarding digital health, telehealth expansion,…more

Centers for Medicare & Medicaid Services (CMS), Cybersecurity, Data Protection, Digital Health, Federal Trade Commission (FTC)

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‘Unimpairment’ Under Chapter 11: More Than Just a Non-Word

It begins with an awkward mouthful. Outside a bankruptcy brief, is “unimpairment” even a word? (No, per Merriam-Webster.) Inside Chapter 11, it’s much more: a trend…more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors

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Final Treasury Regulations Published on Transition from IBORs to Qualified Rates

The Internal Revenue Service and the US Treasury Department have issued final regulations providing rules for taxpayers transitioning from interbank offered rates to qualified rates. These regulations provide financial…more

Banking Sector, FATCA, Final Rules, Financial Conduct Authority (FCA), Financial Institutions

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CFPB Finalizes Qualified Mortgage Changes

The Consumer Financial Protection Bureau (Bureau or CFPB) issued two final rules on December 10 with significant implications for the mortgage marketplace. Of the two final rules from the Bureau, one drastically simplifies the…more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Regulatory Reform, Financial Services Industry

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Iliria S.R.L. v Albania: Landmark Decision Affirms Need for Timely Justice

In a landmark decision rendered by the European Court of Human Rights (ECtHR), the recent case of Iliria S.R.L. v Albania underscores the imperative need for timely justice in matters of international arbitration in the context…more

Arbitration, EU, European Court of Human Rights, Human Rights, International Arbitration

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New York Attorney General Alleges Company Misled with Ads of Net-Zero Emissions Goals

The lawsuit against meat packer JBS Foods concerns the company’s advertisements that it would be “Net Zero by 2040” and is one in a growing number of claims arising from allegedly deceptive environmental marketing claims. It…more

Advertising, Environmental Claims, NAD, NARB, Net Zero

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

See all updates »

Unemployment Benefits in the CARES Act

The Relief for Workers Affected by Coronavirus Act (Act), part of the Coronavirus Aid, Relief, and Economic Security Act—known as the CARES Act—provides enhanced unemployment payments for workers traditionally eligible for…more

CARES Act, Coronavirus/COVID-19, Financial Stimulus, Relief Measures, Unemployment Benefits

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Proposed H-1B Modernization – A Conversation with Shannon Donnelly

As part of our Spotlight series, we invited Shannon Donnelly, a partner in our Washington, DC office who works with clients on a wide range of complex global immigration and mobility issues, to discuss the proposed H1B…more

Foreign Nationals, Foreign Workers, H-1B, Immigrants, Immigration Procedures

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Trump National Labor Relations Board Reverses Major Obama-Era Decisions

With the issuance of four recent decisions overruling key Obama-era National Labor Relations Board precedent and announcing a review of the NLRB’s 2015 election regulations, the NLRB has begun the process of charting a new…more

Joint Employers, NLRA, NLRB, Trump Administration

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US Awaits Substantial Changes to Title IX Regulations – Will They Apply to You?

Despite popular belief that Title IX applies only to higher education institutions, the regulations interpreting Title IX—and court decisions analyzing and applying those regulations—apply the statute much more broadly. This…more

Colleges, Department of Education, Educational Institutions, Federal Funding, OCR

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IRS Provides Guidance on Hodgepodge of Secure 2.0 Provisions

The US Internal Revenue Service (IRS) released a notice providing guidance on various provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0). Some of the topics touched on in the guidance include automatic enrollment, the…more

401k, 403(b) Plans, Employee Benefits, Individual Retirement Account (IRA), IRS

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Current Developments in SEC Enforcement for Public Companies 2024

The US Securities and Exchange Commission (SEC) continued its significant focus on public companies in 2023 with its enforcement and rulemaking programs, and this heightened level of attention will continue throughout 2024…more

10b5-1 Plans, Disclosure Requirements, Insider Trading, Securities Act of 1933, Securities and Exchange Commission (SEC)

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DOJ Deputy Attorney General Pledges New Approach to Corporate Crime

Deputy Attorney General Lisa Monaco described important changes to the Department of Justice’s corporate criminal enforcement policies during her October 28, 2021 keynote address to the ABA’s 36th National Institute on White…more

Corporate Crimes, Criminal Investigations, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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European Council Issues Guidance on Recently Imposed ‘No Russia’ Clause for EU Exporters

EU-based aircraft owners and lessors, among other exporters, will soon have to incorporate a “No Russia” clause in their contracts with non-EU counterparties for the sale, supply, transfer, or export of aircraft and aircraft…more

Economic Sanctions, EU, Export Controls, Exporters, Exports

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A Practical Guide for Submitting Comments to the FTC’s Proposed Noncompete Clause Rule

Comments on the Federal Trade Commission’s (FTC) proposed noncompete clause rule are due March 20. As this comment period will likely be the only opportunity to provide input, workers, businesses, and other members of the public…more

Comment Period, Contract Terms, Employment Contract, Federal Trade Commission (FTC), FTC Act

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International Traffic and Revenue Reports Due July 31

All US international authorization holders and US international service providers must file International Traffic and Revenue Reports. Common carriers and voice over Internet Protocol (VoIP) providers that offer…more

Common Carriers, FCC, Filing Deadlines, Fines, Penalties

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High-stakes Game: IRS ‘goes on the Offense’ Against Sports Industry Partnership Losses

Sports industry partnerships are now on notice that the Internal Revenue Service (IRS) is initiating specialized, issue-based BBA partnership examinations focusing on their income and deductions…more

Income Taxes, IRS, Tax Deductions, Tax Planning, Tax Returns

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USPTO Critical Guidance on 35 Usc § 112(F): Implications for Patent Applicants and Practitioners

The US Patent and Trademark Office (USPTO) this week issued a memorandum related to guidelines for examining patent claims with means-plus-function and step-plus-function limitations under 35 USC § 112(f). The memorandum…more

Intellectual Property Protection, Patent Applications, Patent Infringement, Patents, USPTO

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Retail Did You Know? CARES Act Provides Important Relief for Retail & Hospitality Companies

Dear Retail Clients and Friends, This edition of Morgan Lewis Retail Did You Know? examines how the Coronavirus Aid, Relief, and Economic Security (CARES) Act impacts companies in the retail and hospitality sector..…more

Business Closures, CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus

See all updates »

FTC HSR Act Threshold and Filing Fee Increases Become Effective March 6

The previously announced Hart­-Scott­-Rodino Act (HSR Act) jurisdictional filing thresholds and fees will go into effect on March 6, 2024. The Federal Trade Commission’s (FTC’s) previously announced increases to HSR Act…more

Federal Trade Commission (FTC), Filing Fees, Hart-Scott-Rodino Act, Size of Transaction Test, Threshold Requirements

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2019 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2019, post-grant proceedings have been in use for seven years. Designed as an alternative to district court litigation, post-grant proceedings have offered litigants a faster and more cost-effective forum for resolving…more

Claim Construction, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board, Patents, Post-Grant Review

See all updates »

Biden Administration’s Focus on Unions Extends to OSHA and Inflation Reduction Act Projects

Beyond the recent, precedent-rewriting National Labor Relations Board decisions that have been making headlines, the Biden administration has been furthering its pro-labor agenda through other rulemaking efforts, from the US…more

Biden Administration, Employer Liability Issues, Inflation Reduction Act (IRA), OSHA, Workplace Safety

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Football Governance Bill Establishing Independent Football Regulator Introduced to UK Parliament

The Football Governance Bill was introduced to the UK Parliament on 18 March 2024. If passed, the Bill will establish an independent football regulator for England, install a new licensing regime for English football clubs, and…more

Investment, Investors, Soccer, UK, UK Parliament

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Football Governance Bill Establishing Independent Football Regulator Introduced to UK Parliament

The Football Governance Bill was introduced to the UK Parliament on 18 March 2024. If passed, the Bill will establish an independent football regulator for England, install a new licensing regime for English football clubs, and…more

Investment, Investors, Soccer, UK, UK Parliament

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SECURE Act 2.0: Expanded Self-Correction and New Overpayment Correction Rules and Relief

The SECURE 2.0 Act of 2022 makes far-ranging changes to the US employer-retirement plan system intended to expand access to retirement plans and encourage savings by US workers. This LawFlash—one in a series—examines provisions…more

Employee Benefits, EPCRS, Individual Retirement Account (IRA), IRS, Retirement

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Abu Dhabi Global Market Consults on Whistleblower Protection

The Abu Dhabi Global Market free zone (ADGM) is seeking public consultation on its proposals for a whistleblowing framework, which will lead to the introduction of Whistleblower Protections Regulations (the Regulations) and…more

Abu Dhabi Global Markets (ADGM), Employer Liability Issues, Retaliation, Whistleblowers

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Colleges and Universities: Litigation Challenges and Risk Mitigation in the Face of COVID-19

In navigating the coronavirus (COVID-19) pandemic, higher education institutions should be aware of a recent wave of refund class actions, antitrust considerations in communication with other institutions, claims for business…more

Antitrust Provisions, Business Interruption, Class Action, Colleges, Coronavirus/COVID-19

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Amendments to Astana International Financial Centre and Astana International Exchange Rules

The amendments came into force in July 2020 and are generally positive for market participants, particularly for issuers considering cross- and dual-listings…more

Capital Markets, Corporate Issuers, Foreign Exchanges, Kazakhstan, Listing Standards

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NLRB Blocked from Implementing Expansive Joint Employer Rule

A federal district court recently vacated the National Labor Relations Board’s 2023 joint employer rule (2023 Rule), which would have expanded the standard to hold separate companies joint employers based on indirect or reserved…more

Collective Bargaining, Employer Liability Issues, Joint Employers, NLRB, Unions

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Treasury and IRS Release Notice 2015-54: Potential Impact on Domestic and Foreign Partnerships

The principal effect of the rules would be to turn virtually any contribution of appreciated property by a US person to a section 721(c) partnership into a taxable gain recognition event. On August 6, the US Treasury and…more

Controlled Foreign Corporations, Corporate Taxes, Foreign Entities, IRS, Partnerships

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EPA Kicks the Tires on Stricter Passenger Car Tailpipe Emission Standards

The proposed emissions requirements would be phased in over model years 2027 through 2032, drastically accelerating the nationwide transition to zero-emission vehicles (ZEVs) consistent with the Biden administration’s commitment…more

Automotive Industry, Biden Administration, Electric Vehicles, Environmental Protection Agency (EPA), Executive Orders

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

See all updates »

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

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Emerging Market Trend: An Overview of Content Moderation Outsourcing

Although the advent of readily accessible social media platforms has allowed for the proliferation of user content worldwide, there is increasing pressure on social media platforms and related companies to moderate the content…more

Online Platforms, Outsourcing, Social Media, Social Networks

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Publicly Traded Companies: Don’t Forget to Register Plan Interests in Deferred Compensation Plans

Publicly traded companies generally file registration statements on Form S-8 to register the offering of the company’s stock pursuant to the company’s equity incentive plans under the Securities Act of 1933, as amended…more

Deferred Compensation, Form S-8, Publicly-Traded Companies, Registration Statement, Securities Act of 1933

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Statement of Changes to UK Immigration Rules Announced (Updated)

The UK government published a Statement of Changes to the Immigration Rules, providing details for the much-anticipated changes to sponsored worker salary thresholds, the new Immigration Salary List, and increased income…more

Foreign Nationals, Foreign Workers, Immigrants, Immigration Procedures, UK

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SEC Adopts New Treasury Clearing Rules

On December 13, 2023, the US Securities and Exchange Commission (SEC) adopted rule amendments (Treasury Clearing Rules) designed to improve risk management in clearance and settlement and to facilitate additional central…more

Broker-Dealer, Financial Institutions, Risk Management, Securities and Exchange Commission (SEC), Securities Exchange Act

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New FASB Standards Mandate Disclosure of Reverse Factoring Programs

Due to new standards issued by the Financial Accounting Standards Board (FASB) in late 2022, companies with supply chain financing are now required to comply with additional disclosures intended to monitor and understand the…more

Accounting Standards, FASB, Financial Accounting, Financial Reporting, Financial Statements

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Key Contract Considerations and Trends: Buying, Selling, and Integrating With Digital Health Solutions

These are exciting times for the advancement of healthcare, whether you’re a hospital, health system, or healthcare technology company or a consumer that benefits from the proliferation of products and services provided. In…more

Artificial Intelligence, Digital Health, Food and Drug Administration (FDA), Life Sciences, PHI

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NLRB Expands Definition of Protected Concerted Activity and Employer Bargaining Obligations

The National Labor Relations Board (NLRB) recently issued a flurry of decisions prior to the expiration of Member Gwynne Wilcox’s first term at the end of August. These decisions joined the sweeping changes to NLRB…more

Employer Liability Issues, NLRA, NLRB, Protected Concerted Activity, Unions

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Corporate Transparency Act: Beneficial Ownership Reporting Requirements for Small, Medium Businesses Effective Jan. 1

The Financial Crimes Enforcement Network’s final rule implementing the Corporate Transparency Act’s beneficial ownership information reporting requirements will become effective on January 1, 2024. Small and medium businesses…more

Anti-Money Laundering, Beneficial Owner, Corporate Transparency Act, Financial Crimes, FinCEN

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Florida’s New Immigration Law to Require Private Employers to Use E-Verify

Florida’s new immigration bill, effective July 1, will require private employers with 25 or more employees to verify compliance with US work authorization regulations through the E-Verify system. Previously, only public…more

E-Verify, Employer Liability Issues, Employment Eligibility Verification, Foreign Workers, Immigration Procedures

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Delaware Fully Embraces Captive Insurance as an Option to Protect Directors and Officers

Delaware amended its Corporation Law (Section 145(g)) to expressly permit the use of captive insurance to protect directors and officers, including from claims for which indemnification is prohibited, joining many other key…more

Board of Directors, Captive Insurance Company, Corporate Officers, D&O Insurance, Delaware General Corporation Law

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

See all updates »

Religious Accommodations: Us Supreme Court Heightens Undue Hardship Standard

The US Supreme Court issued a unanimous decision on June 29, 2023 in Groff v. DeJoy, revising the standard for undue hardship in the context of religious discrimination claims brought under Title VII. The Court held that an…more

Civil Rights Act, De Minimus Doctrine, Employer Liability Issues, Equal Employment Opportunity Commission (EEOC), Groff v DeJoy

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Key Issues for Life Science Executives for 2024: JP Morgan Healthcare Conference Takeaways

It is hard to believe that we are already in February and it has been a month since the 42nd Annual JP Morgan Healthcare Conference in San Francisco wrapped. It was a packed four days in which the major players in the life…more

Biologics, Clinical Trials, Food and Drug Administration (FDA), Life Sciences, Pharmaceutical Industry

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New Jersey Enacts First-of-Its-Kind Temporary Workers’ Bill of Rights

New Jersey Governor Phil Murphy recently signed into law the Temporary Workers’ Bill of Rights, which is the first law in the nation to require equal pay for temporary workers. Under the law, employers must pay temporary workers…more

Corporate Counsel, Employer Liability Issues, Governor Murphy, Staffing Agencies, State Labor Laws

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An Attempt at Efficiency: A Look at the TTAB’s Upcoming Rule Changes

The rule changes are aimed at streamlining proceedings before the TTAB. The Trademark Trial and Appeal Board (TTAB or the Board) will implement several important rule changes as of January 14, 2017. The changes will apply…more

Corporate Counsel, Discovery, Ex Parte, Inter Partes Review (IPR) Proceeding, Paid Time Off (PTO)

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Secure Act 2.0: Analysis of Expanded Matching Contribution and Emergency Savings Account Provisions

The SECURE 2.0 Act of 2022 (SECURE 2.0) makes far-ranging changes to the US employer–retirement plan system intended to expand access to retirement plans and encourage savings by US workers. This LawFlash more closely examines…more

Compensation & Benefits, Employee Benefits, Employer Contributions, IRS, Retirement Plan

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EPA Releases List of Known PFAS Chemicals Covered by New Reporting Rules

The US Environmental Protection Agency (EPA) published on January 26, 2024 a list of specific per- and polyfluoroalkyl substances (PFAS) that trigger reporting requirements under EPA’s recently promulgated Toxic Substances…more

Environmental Protection Agency (EPA), Hazardous Substances, PFAS, Reporting Requirements, Toxic Chemicals

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Main Street Lending Program (UPDATED)

This White Paper gives a broad understanding of the terms and implications of the Main Street Lending Program by delving into the key questions market participants are likely to have and addressing the latest changes implemented…more

Coronavirus/COVID-19, FRB, Main Street Lending Programs, Main Street New Loan Facility, Relief Measures

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The eData Guide to GDPR: Anonymization and Pseudonymization Under the GDPR

The EU General Data Protection Regulation (GDPR) regulates the use of personal data collected from European data subjects, including activities of non-European companies that target or process European data subject personal…more

Anonymization, Cybersecurity, Data Protection, EU, General Data Protection Regulation (GDPR)

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New NLRB Rules Favor Mandatory Union Recognition & Limit Employee Voting in Secret-Ballot Elections

The National Labor Relations Board drastically changed the process for unions seeking recognition of most private sector employees in the United States. Abandoning 50 years of established law, in Cemex Construction Materials…more

Employer Liability Issues, NLRB, NLRB General Counsel, Unfair Labor Practices, Union Organizers

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Recent EPA Actions Show Why Companies Must Understand Products’ Individual Chemical Constituents

Historically, the US Environmental Protection Agency (EPA) has generally declined to regulate manufactured goods or finished products―known as “articles”―under the Toxic Substances Control Act (TSCA). This long-standing practice…more

Chemicals, Environmental Protection Agency (EPA), PFAS, Toxic Chemicals, Toxic Substances Control Act (TSCA)

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Washington, DC, Takes Steps to Protect Employees’ Off-Duty Marijuana Use

Washington, DC, City Council unanimously passed a bill on June 7 that would prohibit employers from basing adverse employment actions on an individual’s lawful, off-duty use of marijuana, unless certain exceptions apply. The…more

Adverse Employment Action, Decriminalization of Marijuana, Drug Testing, Employer Liability Issues, Employment Policies

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SEC Proposes Mandatory Swing Pricing for Mutual Funds and Revised Liquidity Requirements

On November 2, 2022, the US Securities and Exchange Commission (SEC), by a 3-2 party line vote, proposed amendments (the Proposal) to the liquidity risk management programs rule (Rule 22e-4) under the Investment Company Act of…more

Investment Company Act of 1940, Investment Management, Liquidity, Liquidity Risk Management Rule, Mutual Funds

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Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

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How Early-Stage Life Sciences Companies Can Avoid Potential Legal Missteps Through These Five Key Commercial Agreements

In the early days of a life science company, there can be confusion and a number of landmines where legal missteps may happen. As part of our 2022 Startup & Accelerate Webinar Series, we look at five key commercial agreements…more

Confidential Information, Early Stage Companies, Entrepreneurs, Life Sciences, Master Service Agreement

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UK Competition and Markets Authority Publishes Provisional Roadmap for Digital Markets Regime

The UK Competition and Markets Authority (CMA) published a roadmap on January 11, 2024 setting out its provisional approach for the implementation of Part 1 of the Digital Markets, Competition and Consumers Bill (DMCC). The…more

Competition, Competition Authorities, Mergers, UK, UK Competition and Markets Authority (CMA)

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UK Adequacy Decision for European Data Transfers

The European Commission has finally approved two decisions  on 28 June granting the United Kingdom the cherished status of having “adequate” data protection laws so that transfers of personal data from the European Union are not…more

Corporate Counsel, Cybersecurity, Data Protection, EU, EU Data Protection Laws

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Key Changes to the Federal Rules Governing Discovery

Important amendments went into effect on December 1. The major changes to the Federal Rules of Civil Procedure that govern discovery in federal cases affect Rules 26, 34, and 37…more

Discovery, Electronically Stored Information, Federal Rules of Civil Procedure, Proportionality, Spoliation

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Schrems II Could Disrupt US Courts’ Common Ground on eDiscovery and Data Transfers from Europe - THE EDATA GUIDE TO GDPR

Schrems II may force companies obligated to produce EU personal data to the task of determining whether to comply with US discovery obligation rules that risk fines under the GDPR for illegal data transfers or to defy the US…more

Corporate Counsel, Court of Justice of the European Union (CJEU), Cybersecurity, Data Protection, EU

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FCC Continues to Lean Forward on National Security Issues

Recent actions by the US Federal Communications Commission (FCC or Commission) indicate that it continues to lean forward on national security issues, and that the FCC is not merely comfortable acting in this space but rather is…more

FCC, National Security, Telecommunications, U.S. Commerce Department

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,…more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

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Current Developments in SEC Enforcement for Public Companies 2024

The US Securities and Exchange Commission (SEC) continued its significant focus on public companies in 2023 with its enforcement and rulemaking programs, and this heightened level of attention will continue throughout 2024…more

10b5-1 Plans, Disclosure Requirements, Insider Trading, Securities Act of 1933, Securities and Exchange Commission (SEC)

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2024 Proxy Season: The Importance of Evaluating DEI, ESG, and Corporate Social Responsibility Disclosures

In preparing for both the 2024 proxy season and publication of inaugural or refreshed corporate social responsibility or sustainability reports, as well as in anticipation of final climate disclosure rules from the SEC as of…more

Board of Directors, Corporate Governance, Diversity, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG)

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France Implements Updates to Its FDI Screening Regime

The regime for control of foreign direct investment (FDI) in France has recently experienced significant changes, including through guidelines published by the General Directorate of the Treasury, the implementation of an online…more

Foreign Direct Investment, Foreign Investment, Investors, National Security

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Proactive Approach To Cybersecurity: Recent SEC guidance and enforcement actions suggest that reactive firms may be in the SEC’s crosshairs

In an environment where even the largest and most powerful corporations have fallen victim to data breaches, it can be challenging to fathom how to protect against the sophisticated and ever-evolving threat of cyber attacks. The…more

Broker-Dealer, Corporate Governance, Cyber Attacks, Cyber Incident Reporting, Cyber Threats

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HKEX to Further Promote Its Paperless Initiative in 2024

The Stock Exchange of Hong Kong Limited (HKEX) recently released its Consultation Conclusions on the Consultation Paper introduced in December 2022, Proposals to Expand the Paperless Listing Regime and Other Rule Amendments,…more

HKEx, Hong Kong, Hong Kong Stock Exchange, Listing Rules

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Monetary Authority of Singapore’s Enhanced Investigative and Supervisory Powers

Singapore’s new bill grants the Monetary Authority of Singapore (MAS) broader authority over the financial sector to oversee, investigate, and penalize misconduct. It aims to address the industry's growth and complexity,…more

Banking Sector, Banks, Financial Services Industry, Monetary Authority of Singapore, Singapore

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DC Circuit Ruling May Limit SEC Ability to Bar or Suspend Registered Persons

The US Court of Appeals for the DC Circuit upended a longstanding Securities and Exchange Commission (SEC or Commission) position by ruling on April 30 that “willful” conduct—a frequent prerequisite in a broad range of sanctions…more

Financial Services Industry, Investment Adviser, Securities and Exchange Commission (SEC)

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California Law Will Obligate VC Firms to Report Portfolio Company Diversity Metrics

California Governor Gavin Newsom recently signed Senate Bill 54, which aims to increase diversity among founders that are backed by venture capital (VC) companies. If implemented in its current version, SB 54 will likely apply…more

California, Governor Newsom, Investors, Startups, Venture Capital

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California Consumer Privacy Act Could Spell a Sea Change in US Privacy Law

The California Consumer Privacy Act, which could be on the ballot in November, aims to introduce a groundbreaking approach to consumer privacy that not only is likely to resonate with the state’s voters, but is also expected to…more

Ballot Measures, Consumer Privacy Rights, Data Breach, Privacy Laws

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Delaware Fully Embraces Captive Insurance as an Option to Protect Directors and Officers

Delaware amended its Corporation Law (Section 145(g)) to expressly permit the use of captive insurance to protect directors and officers, including from claims for which indemnification is prohibited, joining many other key…more

Board of Directors, Captive Insurance Company, Corporate Officers, D&O Insurance, Delaware General Corporation Law

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COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for…more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

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Singapore Introduces ‘Simplified Insolvency Programme’ for Micro and Small Companies

Micro and small companies will be able to use a “Simplified Insolvency Programme” to be introduced by proposed amendments to Singapore’s Insolvency, Restructuring, and Dissolution Act 2018 (IRDA)…more

Coronavirus/COVID-19, Corporate Restructuring, Financial Distress, Infectious Diseases, Insolvency

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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Singapore Court Rules on Right to Challenge Arbitral Awards on Jurisdictional Grounds

On 9 May 2019, the Singapore Court of Appeal in Rakna Arakshaka Lanka Ltd v Avant Garde Maritime Services (Pte) Ltd [2019] SGCA 33 considered whether a respondent who failed to appeal to the Singapore courts in accordance with…more

Arbitration, Arbitration Awards, International Arbitration, Singapore, UNCITRAL

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Update: Russia Determines Terms of Bidding Process Within Blocked Investment Exchange Mechanism

The Russian Government Commission on Control over Foreign Investments approved the terms and conditions of the bidding process carried out within the framework of the blocked investment exchange mechanism…more

Foreign Direct Investment, Foreign Investment, Investors, Russia

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HKEX to Further Promote Its Paperless Initiative in 2024

The Stock Exchange of Hong Kong Limited (HKEX) recently released its Consultation Conclusions on the Consultation Paper introduced in December 2022, Proposals to Expand the Paperless Listing Regime and Other Rule Amendments,…more

HKEx, Hong Kong, Hong Kong Stock Exchange, Listing Rules

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Singapore Court of Appeal: Claims from Other Contracts Cannot Be Set Off in an Adjudication

Singapore’s Court of Appeal recently ruled that claims and set-offs from other contracts between the two parties in an adjudication are not consistent with the purpose of the Building and Construction Industry Security of…more

Adjudicatory Process, Construction Contracts, Contract Disputes, Singapore

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Singapore Court of Appeal Provides Guidance on Duty of Adjudicators to Consider Issues Raised by Parties

The Singapore Court of Appeal, in Bintai Kindenko Pte Ltd v Samsung C&T Corporation (2018) SGCA 39, recently upheld the decision of the High Court in setting aside an adjudication determination made under the Building and…more

Adjudicatory Process, Singapore, SOP Act

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Monetary Authority of Singapore’s Enhanced Investigative and Supervisory Powers

Singapore’s new bill grants the Monetary Authority of Singapore (MAS) broader authority over the financial sector to oversee, investigate, and penalize misconduct. It aims to address the industry's growth and complexity,…more

Banking Sector, Banks, Financial Services Industry, Monetary Authority of Singapore, Singapore

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New Jersey WARN Act to Impose Mandatory Severance Pay, Stricter Employer Obligations

The amended New Jersey WARN Act will impose significantly stricter obligations (including potential individual liability) and make New Jersey the first state to mandate severance pay to employees separated as a result of certain…more

Employer Liability Issues, Hiring & Firing, Labor Regulations, Layoffs, Severance Pay

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California DFPI Staffs Up, Begins Investigating Previously Out-of-Reach Businesses

The California Department of Financial Protection and Innovation (DFPI) announced in its January 2021 monthly bulletin that it will begin exercising its enhanced powers under the California Consumer Financial Protection Law…more

California Consumer Financial Protection Law (CCFPL), Consumer Financial Products, Department of Financial Protection and Innovation (DFPI), Enforcement Actions, FinTech

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Reopening the Workplace: A Preliminary Guide for UK Employers

Key issues that UK employers should begin considering now to minimize difficulties as they reopen or expand their operations include reintegrating staff, assessing internal policies in light of the pandemic, testing for the…more

Coronavirus/COVID-19, Employer Responsibilities, Re-Opening Guidelines, Return-to-Work Agreements, UK

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California Law Requires Pay Range Disclosures on Job Postings and Mandates Pay Data Reporting

Employers in California must include pay ranges in all job advertisements effective January 1, 2023, and must submit comprehensive pay data for employees and subcontractors to the California Civil Rights Department starting on…more

California, Employees, Employer Liability Issues, New Legislation, Pay Data

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Mandatory Electronic Dissemination of Corporate Communications Effective 31 December 2023

The revised Hong Kong Listing Rules and related guidance implementing the expanded paperless listing regime will come into effect on 31 December 2023. Hong Kong Stock Exchange (HKEX) published its first frequently asked…more

Disclosure Requirements, HKEx, Hong Kong, Hong Kong Stock Exchange, Listing Rules

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OSHA’s ‘Union Walkaround Rule’ Heads Toward Finalization Following Comment Period

A recent proposed rulemaking from the US Occupational Safety and Health Administration (OSHA) seeks to make it easier for unions and other third parties to gain access to private worksites, creating steep consequences for…more

Comment Period, Employer Liability Issues, NLRA, OSHA, Proposed Rules

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DOJ Updates Antitrust Leniency FAQs––Clarifying Some Standards and Raising Questions

The US Department of Justice (DOJ) Antitrust Division announced significant guidance updates to its leniency program on April 4, 2022. Under the program, companies that self-report antitrust conspiratorial activity to the…more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Criminal Antitrust Litigation, Department of Justice (DOJ)

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DOJ Issues Guidance on Compliance Monitors in Corporate Plea Agreements

The guidance emphasizes flexibility and cost-benefit analysis in the monitor selection process, and along with the recognition by the US Department of Justice that monitors should be appointed only when absolutely necessary, it…more

Compliance, Department of Justice (DOJ), Pleas

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PA Court Holds That Natural Gas Producer Improperly Deducted Fees

Post-production costs deducted from gas royalties, such as interstate transportation charges and marketing costs, must be incurred while a producer still holds title to the gas…more

Class Action, Interstate Commerce, Land Owners, Natural Gas, Pipelines

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UK Government Consults on Changes to Application of National Security and Investment Act

The UK government recently issued a Call for Evidence seeking input from stakeholders regarding potential changes to how it enforces the National Security and Investment Act (NSIA), which enables the UK government to scrutinise…more

Acquisitions, Foreign Acquisitions, Foreign Investment, National Security, UK

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SEC Adopts New Treasury Clearing Rules

On December 13, 2023, the US Securities and Exchange Commission (SEC) adopted rule amendments (Treasury Clearing Rules) designed to improve risk management in clearance and settlement and to facilitate additional central…more

Broker-Dealer, Financial Institutions, Risk Management, Securities and Exchange Commission (SEC), Securities Exchange Act

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When Is a Deposit Refundable? Express Terms Are Important

Singapore’s Court of Appeal recently ruled that a party to a contract is not entitled to a refund of a $300,000 deposit it had paid in anticipation of an agreement that never materialised. Contracting parties are therefore well…more

Appeals, Contract Terms, Refunds, Singapore

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Global Privacy: Year in Review and a Look Forward, 2023–2024

The world is witnessing a flurry of activity surrounding issues of data protection, cybersecurity, artificial intelligence (AI), and consumer privacy. According to the National Conference of State Legislators, some 40 US states…more

Corporate Counsel, Cyber Threats, Cybersecurity, Data Breach, Data Privacy

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Existing and Proposed Federal AI Regulation in the United States

The rapid rate at which technology is advancing poses a significant challenge to global regulatory authorities, and perhaps nowhere is this more evident than with respect to artificial intelligence (AI). While AI continues to…more

Artificial Intelligence, CFIUS, Export Administration Regulations (EAR), Export Controls, Exports

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IRS Releases Proposed Digital Asset Regulations

The Internal Revenue Service (IRS) recently released proposed regulations regarding broker reporting for digital assets, including expansions of and additions to certain definitions, rules, and requirements. The IRS seeks…more

Comment Period, Digital Assets, Distributed Ledger Technology (DLT), IRS, Non-Fungible Tokens (NFTs)

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Not Done Yet—Employee Benefits Plan Transition and Integration Decisions Continue After M&A Transactions Close

Patrick Rehfield focuses on matters related to executive compensation, payroll tax, and employee fringe benefits. He advises private and public companies on designing and implementing nonqualified retirement plans, equity…more

Acquisitions, Employee Benefits, Employer Liability Issues, Mergers, Retirement Plan

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Advisory Committee on Reactor Safeguards Endorses Alternative Option for Licensing Microreactors

The Advisory Committee on Reactor Safeguards (ACRS) recently endorsed the NRC Staff’s proposed alternative option for licensing microreactors in a letter submitted to NRC Chairman Christopher Hanson. In brief, the licensing…more

Energy Sector, Licensing Rules, Nuclear Power, Nuclear Regulatory Commission

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SEC Adopts Amendments to Accredited Investor Definition

The Securities and Exchange Commission (SEC) on August 26 adopted amendments (Amendments) to the “accredited investor” definition, which is one of the principal tests for determining who is eligible to participate in certain…more

Accredited Investors, Financial Regulatory Reform, Qualified Institutional Buyers, Regulation D, Rule 144A

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UK Bolsters Sanctions Powers Against Russia

The United Kingdom on 10 February 2022 amended its Russian sanctions law to more easily add persons to its targeted sanctions regime, which enhances the UK’s ability to quickly impose sanctions against most parts of the Russian…more

Economic Sanctions, Executive Orders, Export Controls, Financial Services Industry, Russia

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

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New York Issues Tax Advisory Opinion Regarding Cloud Computing Product

The new guidance addresses the New York sales and use tax treatment of cloud computing services. Background - On April 14, the New York State Department of Taxation and Finance (the Department) issued Advisory…more

Advisory Opinions, Cloud Computing, Popular, Sales & Use Tax

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Current Developments in SEC Enforcement for Public Companies 2024

The US Securities and Exchange Commission (SEC) continued its significant focus on public companies in 2023 with its enforcement and rulemaking programs, and this heightened level of attention will continue throughout 2024…more

10b5-1 Plans, Disclosure Requirements, Insider Trading, Securities Act of 1933, Securities and Exchange Commission (SEC)

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Statement of Changes to UK Immigration Rules Announced (Updated)

The UK government published a Statement of Changes to the Immigration Rules, providing details for the much-anticipated changes to sponsored worker salary thresholds, the new Immigration Salary List, and increased income…more

Foreign Nationals, Foreign Workers, Immigrants, Immigration Procedures, UK

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Implications of COVID-19 for Institutional Investors

The spread of the coronavirus (COVID-19) continues to impact global financial markets and private funds. Institutional investors, funds-of-funds, family offices, and other investors in private funds should consider the economic…more

China, Coronavirus/COVID-19, Crisis Management, Emergency Management Plans, Infectious Diseases

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

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Private Funds 2023: The Year in Brief

2023 was a watershed year for the private fund industry, not only because the US Securities and Exchange Commission (SEC) adopted a package of new regulations that will substantially alter the private fund landscape (subject to…more

Broker-Dealer, Form PF, Investment Adviser, Investors, Private Funds

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Names Rule Amendments Will Require Changes For Certain Funds

On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping…more

Amended Rules, Investment Companies, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

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Latest Changes to Disclosure Pilot Scheme in the Business and Property Courts of England and Wales

Over the last 18 months, the Business and Property Courts of England and Wales have been running the Disclosure Pilot Scheme. Since its inception, this scheme has undergone a series of tweaks and amendments and the latest…more

Business and Property Courts, Case Management, Disclosure Pilot Scheme, Discovery, Document Productions

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Still Hot: Why Global Sports Keep Attracting Record-Breaking Investments

Private equity firms, financial sponsors, and sovereign wealth funds continue to invest in global sports organizations. Financial sponsor–led investments were more prevalent at the beginning of the century in Europe and…more

Institutional Investors, Investors, MLB, NBA, NFL

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Commenters Weigh in on Proposed Federal MDL Rule to Help Shape Future of Mass Litigation

The Federal Advisory Committee on Civil Rules has opened public comment on proposed Rule 16.1, which addresses case management in multidistrict litigation (MDL) proceedings. The proposed rule attempts to provide guidance for…more

Case Management, Comment Period, Discovery, Federal Rules of Civil Procedure, Multidistrict Litigation

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IRS Announces Increased Gift and Estate Tax Exemption Amounts for 2024

The US Internal Revenue Service has announced that the annual gift tax exclusion is increasing in 2024 due to inflation. The exclusion will be $18,000 per recipient for 2024—the highest exclusion amount ever…more

Estate Planning, Estate Tax, Estate-Tax Exemption, Gift Tax, Gift-Tax Exemption

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Names Rule Amendments Will Require Changes For Certain Funds

On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping…more

Amended Rules, Investment Companies, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

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Update: EU Introduces Its 8th Wide-Ranging Sanctions Package Against Russia

The European Union adopted its 8th sanctions package of restrictive measures against Russia on 6 October 2022 in response to the ongoing conflict in Ukraine…more

Asset Freeze, Cryptoassets, Economic Sanctions, EU, Export Bans

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New York State DOL Issues Proposed Regulations, Guidance on New York Salary Disclosure Law

The New York State Department of Labor (NY DOL) has issued proposed regulations and guidance to convey information on the state’s new salary disclosure law, effective as of September 17, 2023, and its key compliance areas,…more

Employer Liability Issues, Proposed Regulation, Salaried Employees, State Labor Departments, State Labor Laws

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State Insurance Regulators and Legislators Respond to COVID-19 Pandemic

Insurance regulators across the country have enacted emergency regulations, issued administrative guidance, and requested carriers to take certain actions to try to address the financial impact of the coronavirus (COVID-19)…more

Coronavirus/COVID-19, Insurance Claims, Insurance Regulations, Legislative Agendas, Policy Terms

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New York Attorney General Alleges Company Misled with Ads of Net-Zero Emissions Goals

The lawsuit against meat packer JBS Foods concerns the company’s advertisements that it would be “Net Zero by 2040” and is one in a growing number of claims arising from allegedly deceptive environmental marketing claims. It…more

Advertising, Environmental Claims, NAD, NARB, Net Zero

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FCA Publishes Consultation Paper on Rules Relating to Securitisation

The FCA recently published its Consultation Paper on Rules relating to Securitisation. This follows the publication by HM Treasury of the near-final draft of the Securitisation Regulations 2023 and the publication by the PRA of…more

Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA), Securitization, UK

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CMS Administrator Touts Changes to RAC Program

In CMS’s continuing effort to take “a strategic approach to protecting taxpayer dollars and reducing regulation to put patients over paperwork,” Administrator Seema Verma recently highlighted changes to the Recovery Audit…more

Centers for Medicare & Medicaid Services (CMS), Fee-for-Service, Health Care Providers, Medicare, Recovery Audit Contractors (RACs)

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How to Develop Partner-Ready Patent Estates

For our third and final Biotech Week Boston post, partner Stephen Altieri—one of the many within our 250-member-strong comprehensive cross-practice life sciences team with an advanced scientific degree—discusses efficient patent…more

Intellectual Property Protection, Patent Infringement, Patents, Pharmaceutical Industry, Pharmaceutical Patents

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Assembly Bill 152 Extends California’s COVID-19 Supplemental Paid Sick Leave

California Governor Gavin Newsom signed Assembly Bill 152 into law on September 29, extending California’s 2022 COVID-19 Supplemental Paid Sick Leave law to December 31, 2022. The bill also creates a program that will reimburse…more

Coronavirus/COVID-19, Employee Benefits, Governor Newsom, Paid Leave, Paid Time Off (PTO)

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Blockbuster Biologics Review - Issue 22

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to…more

Biologics, Biosimilars, Intellectual Property Protection, Life Sciences, Patent Infringement

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ESMA Publishes Consultation Paper on Reporting Templates for Securitisations

ESMA has published a Consultation Paper in relation to the securitisation disclosure templates under Article 7 of the EU Securitisation Regulation. This follows the report of the European Commission in October 2022 setting out…more

Disclosure Requirements, EU, European Commission, European Securities and Markets Authority (ESMA), Reporting Requirements

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LA County Passes Fair Chance Ordinance on Employer Consideration of Criminal History

The County of Los Angeles has announced a new Fair Chance Ordinance, taking effect on September 3, 2024, that will regulate the consideration of criminal history information by employers with five or more employees in…more

Background Checks, Criminal Background Checks, Criminal Records, Employer Liability Issues, Fair Chance Act

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Amendments to Mexico’s Power Industry Law Remain Suspended Despite Court Decisions

As of July 15, 2021, both Federal Collegiate Courts in Administrative Matters Specialized in Economic Competition (Tribunal Colegiado en Materia Administrativa Especializado en Competencia Económica, Radiodifusión y…more

Arbitration, Electricity, Energy Sector, Foreign Investment, International Arbitration

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Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

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Allegations Of Sexual Misconduct On Campus: Complying With The Us Department Of Education’s Final Regulations On Title IX

The US Department of Education (DOE) on May 6, 2020 issued legally binding amended regulations governing how institutions that receive federal funding under Title IX of the Education Amendments of 1972 (Title IX) must respond to…more

Department of Education, Deregulation, Disciplinary Proceedings, Educational Institutions, Gender-Based Violence

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FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024…more

Advertising, Automotive Industry, Automotive Loans, Banks, Car Dealerships

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IRS Proposes Regulations for Excise Taxes on Taxable Distributions from Donor-Advised Funds

The US Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) recently issued proposed regulations under Internal Revenue Code Section 4966 (the Proposed Regulations) that provide important clarifications…more

Excise Tax, Internal Revenue Code (IRC), IRS, Proposed Regulation, U.S. Treasury

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US Supreme Court: Highly Compensated Employees Entitled to Overtime Unless FLSA Exemption Requirements Satisfied

In Helix Energy Solutions Group Inc. v. Hewitt, the US Supreme Court held (on the facts of that case) that an employer had improperly classified a supervisory employee earning more than $200,000 per year as an exempt “executive”…more

Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Helix Energy Solutions Group Inc v Hewitt No 21-984, Highly Compensated Employees

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Abusive Acts and Practices: Putting the CFPB’s Policy Statement into Practice

The Consumer Financial Protection Bureau (CFPB) released a second iteration of its Policy Statement on Abusive Acts and Practices (Policy Statement) on April 3, 2023, giving insight into its current thinking on the abusiveness…more

Banking Sector, Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), Financial Institutions, Financial Services Industry

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IRS’s Implicit Parental Support Guidance ‘Formalizes’ Past Litigation Position

The Internal Revenue Service (IRS) recently issued a nonbinding Generic Legal Advice Memorandum (GLAM) that provides advice on Internal Revenue Code Section 482 and so-called implicit parental support. Consistent with prior IRS…more

Corporate Taxes, IRS, Parent Corporation, Section 482, Tax Planning

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Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

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The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

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AIFMD II Enters into Force: Key Changes to EU Fund Regime

After several years of negotiations between the European Commission, European Council, and European Parliament following the publication of the initial draft proposal in November 2021, AIFMD II was published in the Official…more

Alternative Investment Fund Managers Directive (AIFMD), EU, European Economic Area (EEA), Investment Funds

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DC’s Tipped Wage Workers Act: Training Deadline Approaches for Covered Employers

The District of Columbia’s Tipped Wage Workers Fairness Amendment Act imposes several obligations on employers with tipped employees, including significant training and reporting requirements. The deadline for employees,…more

Covered Employees, Employer Liability Issues, Tipped Employees, Wage and Hour

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India: Emerging as a Manufacturing Powerhouse

India is the world’s fifth-largest economy by gross domestic product and the third-largest economy by purchasing power parity as of 2024, and with its rapidly growing population comes lucrative and diverse opportunities for…more

Automotive Industry, India, Joint Venture, Manufacturers, Pharmaceutical Industry

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Connecticut Law to Require Provision of Wage Ranges to Applicants and Employees

Beginning October 1, 2021, employers in Connecticut will be required to provide both job applicants and employees with the wage range of the position for which the applicant is applying or that the employee holds…more

Employer Liability Issues, Employment Policies, Hiring & Firing, Job Applicants, State Labor Laws

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The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

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Reform Comes to Australian Restructuring and Insolvency Law

Two key changes made to Australian insolvency law enhance restructuring efforts in Australia and could improve outcomes for US investors…more

Australia, Bankruptcy Code, Chapter 11, Debtors, Insolvency

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US Government Cracks Down on Alleged Misuse of US Funded Research by Chinese Scholars, Students

US government–funded academic medical centers and other research institutions are caught between traditional values of academic freedom, collaboration, and nondiscrimination and their obligations to comply with US law and…more

China, Health Care Providers, Medical Research, Research Funding

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Jury Finds for Online Marketplace over Atari in Trademark Infringement Case

In the case, Atari had alleged that Redbubble failed to adequately police its marketplace to remove artist uploads that counterfeited or infringed upon Atari’s trademarks in its logo and other iconic images. As part of its…more

Contributory Infringement, Corporate Counsel, Counterfeiting, Intellectual Property Protection, Lanham Act

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Citizen Petitions, Class Actions Call for FDA Action on Drug Products Containing Benzene

Spurred by a March 5, 2024 citizen petition to the Food and Drug Administration (FDA), a flurry of class action complaints have been filed claiming that drug makers failed to warn consumers about the presence of benzene in…more

Food and Drug Administration (FDA), Life Sciences, Pharmaceutical Industry, Prescription Drugs

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Early Results of USPTO’s New Climate Change Mitigation Pilot Program

The United States Patent and Trademark Office launched the Climate Change Mitigation Pilot Program last year to incentivize the filing of patent applications that cover technologies directed to climate change mitigation. With…more

Intellectual Property Protection, Patent Litigation, Patent Trial and Appeal Board, Patents, USPTO

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Russia to Permit Certain Transactions with Securities of Non-Russian Issuers

Decree 844, issued by the Russian president on November 8, 2023, marked the latest piece of legislation making up the so-named Russian countersanctions law. We have previously covered the rules set by Decree 844 for funds held…more

Counter Sanctions, Economic Sanctions, Financial Institutions, Foreign Policy, Russia

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French Government Welcomes Draft Collective Agreement on Value Sharing

At a time when purchasing power is a central and hot topic of debate, French unions and employers have agreed on a draft collective agreement aimed at allowing greater sharing of profit with employees. The draft agreement has…more

Employer Liability Issues, EU, France, Hiring & Firing, International Labor Laws

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Biden Administration Proposes Increased Enforcement of Mental Health Parity Requirements

The US Departments of the Treasury, Labor, and Health and Human Services (the Departments) recently unveiled a proposed rule intended to increase mental health coverage through expanded plan oversight and enforcement activity…more

Biden Administration, Employer Group Health Plans, Health Insurance, Mental Health, Mental Health Parity Rule

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IRS Releases “Start Construction” Guidance for Renewable Energy Facilities

Long-awaited guidance regarding eligibility for production or investment tax credits largely tracks guidance under the Section 1603 cash grant program…more

American Taxpayer Relief Act, Begun Construction Test, Investment Tax Credits, IRS, Physical Work Test

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COVID-19: Practical Considerations for UK Companies’ Annual General Meetings

In light of the UK government’s lockdown measures and the COVID-19 pandemic, there are key issues English public companies should consider for their annual general meetings (AGMs) while awaiting further legislation and…more

Annual Meeting, BEIS, Coronavirus/COVID-19, Corporate Governance, UK

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Update: EU, UK, and US Sanctions Against Turkey

Recent sanctions imposed by the European Union, United Kingdom, and the United States on Turkey and certain Turkish persons will be of interest to European and American investors in Turkey’s defense and energy sectors. The…more

CAATSA, Defense Sector, Economic Sanctions, EU, Foreign Relations

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President Biden Revokes Ban Suspending Entry of Certain Immigrants, Issuance of Green Cards Overseas

President Joe Biden has rescinded Presidential Proclamation 10014, the prior administration’s ban that suspended the issuance of certain green cards overseas and barred entry into the United States of certain groups of…more

Biden Administration, Corporate Counsel, EB-1, EB-2, EB-3

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The Focus on Healthcare PE Investment Is Here to Stay—For Now

While private equity (PE) investments in healthcare have long been subject to scrutiny, as PE investment in healthcare has grown sizably over the last decade, so too has the concern from federal and state regulatory bodies…more

Centers for Medicare & Medicaid Services (CMS), Investment, Investors, Private Equity, Private Equity Firms

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Federal Circuit Lowers Bar for Proving Design Patent Infringement

In a much-anticipated opinion that addresses an issue of first impression, the US Court of Appeals for the Federal Circuit narrowed the scope of “comparison prior art”―prior art considered by the fact finder during an…more

Corporate Counsel, Design Patent, Intellectual Property Protection, Patent Infringement, Patent Litigation

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US Supreme Court Clarifies Where Corporations Can Be Sued for Patent Infringement

The United States Supreme Court clarified that 28 U.S.C. § 1400 is the exclusive venue statute for patent infringement cases, so the definition of “residence” for domestic corporations is limited to where they are incorporated…more

Patent Infringement, Patent Litigation, Patents, SCOTUS, TC Heartland LLC v Kraft Foods

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The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private…more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

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Dealing with the Dearly Departed in Multiemployer Defined Benefit Plans

Recent headlines involving the Central States Teamsters Pension Fund and the Pension Benefit Guaranty Corporation’s (PBGC) Special Financial Assistance (SFA) Program highlights an issue with meaningful consequences for…more

Defined Benefit Plans, Employee Benefits, Multiemployer Plan, Pensions, Retirement Plan

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State and Local Survey of Laws Regulating Escooter Sharing Services

The growth and use of electric scooters (escooters) for personal transportation has exploded over the last several years. Much of this growth has been driven by escooter sharing companies, which, rather than pursuing a model of…more

Critical Infrastructure Sectors, E-Scooters, Educational Institutions, Green Transportation, Innovative Technology

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DOJ Announces New ‘No Piling-On’ Policy, but Maintains Compliance Expectations

The US Department of Justice announced on May 9 a new policy to avoid the imposition of duplicative penalties by multiple authorities in corporate fraud investigations. But, the DOJ’s expectations with respect to compliance…more

Compliance, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA), Penalties

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Legal Considerations for WHO’s ‘Possibly Carcinogenic’ Aspartame Classification

On July 14, 2023, the World Health Organization (WHO) published a summary of two findings regarding aspartame, an artificial sweetener found in many consumer products. One finding categorized aspartame as “possibly…more

Cancer, Commercial Insurance Policies, Duty to Defend, Food and Drug Administration (FDA), Food Labeling

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White House Partnership Aims to Speed Up Construction of Offshore Wind Farms

Another boost to the growing US offshore wind industry came on June 23, 2022, when the Biden-Harris administration and several cabinet secretaries announced new initiatives, including a partnership with 11 eastern states…more

Biden Administration, Energy Projects, Energy Sector, Offshore Wind, Renewable Energy

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Texas High Court Limits Interdependent Expert Opinions

Experts may not rely on the unreliable opinions of other experts. In a recent opinion in Gharda USA, Inc. v. Control Solutions, Inc., No. 12-0987, --S.W.3d--, 2015 WL 2148058, at *9 (Tex. May 8, 2015), the Supreme Court of…more

Expert Testimony, Expert Witness, Manufacturing Defects

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

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European Trilogue Session on EU AI Act Concludes with Questions Remaining

Representatives from the European Parliament, the European Council, and the European Commission agreed on wording to Article 6 of the draft AI Act addressing important classification rules for high-risk artificial intelligence…more

Algorithms, Artificial Intelligence, EU, Machine Learning

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New SEC Rule Will Regulate Registered Fund Investments in Derivatives

On October 28, 2020, the US Securities and Exchange Commission (SEC) voted 3–2 to adopt Rule 18f-4 (the Rule) under the Investment Company Act of 1940 (the Investment Company Act), which will replace decades-old SEC and staff…more

Business Development Companies, Derivatives, ETFs, Financial Regulatory Reform, Investment Funds

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Maryland Becomes Ninth State to Enact Paid Sick Leave

The Healthy Working Families Act requires certain Maryland employers with 15 or more employees to provide paid sick leave. Maryland became the ninth state, along with the District of Columbia, to enact paid sick leave after…more

Healthy Workplaces Healthy Families Act 2014, Paid Leave, Paid Sick Leave Act, Sick Leave, Wage and Hour

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Illinois Enacts New Job Posting Transparency Law

Following the lead of numerous other states and localities requiring pay transparency in job postings, the State of Illinois further amended the Illinois Equal Pay Act of 2003 (IEPA) to accomplish this goal. Effective January 1,…more

Employer Liability Issues, Equal Pay, Posting Requirements, State Labor Laws, Transparency

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English High Court Takes ‘More Nuanced Approach’ to Difference Between Fixed and Floating Charges

The English High Court provided guidance on 25 April 2023 in Re Avanti Communications Limited to determine whether a charge is a fixed charge or a floating charge. The distinction between a fixed charge and a floating charge is…more

Financial Institutions, Financial Services Industry, Insolvency, UK

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CFPB Announces Revised Supervisory Appeals Process

The Consumer Financial Protection Bureau (CFPB) on February 16 issued an internal process regulation—effective immediately upon publication in the Federal Register—updating and formalizing the steps that supervised institutions…more

Banking Sector, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

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California Retroactively Extends Sick Leave Coverage for Employees Affected by COVID-19

California Governor Gavin Newsom signed into law Senate Bill 95 (SB 95) on March 19, 2021. SB 95 requires employers to provide employees with supplemental paid sick leave (CSPSL) for various absences related to COVID-19 and…more

Coronavirus/COVID-19, Infectious Diseases, New Legislation, Relief Measures, Sick Leave

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Social Media Influencer Agreements, Part 2: Considerations When Drafting for an Influencer

In Part 1, we discussed how companies rely on social media influencers to promote their products and services online, and certain items to consider when drafting an influencer agreement. In this Part 2 blog post, we’ll focus on…more

Advertising, Endorsements, Influencers, Marketing, Social Media

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2019 ISG Momentum Market Trends & Insights Geography Report

The 2019 ISG Momentum Market Trends & Insights Geography Report was recently released and contains valuable insights on how the outsourcing industry is growing and transforming around the world. The report, which was published…more

Contract Terms, Outsourcing, Technology

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DOJ Launches Procurement Collusion Strike Force on Antitrust Crimes

The US Department of Justice (DOJ) on November 5 announced the formation of the Procurement Collusion Strike Force (PCSF). This interagency initiative will “lead a coordinated national response to combat antitrust crimes and…more

Antitrust Violations, Department of Justice (DOJ), DOJ Strike Force, Public Procurement Policies

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Us Supreme Court: Affirmative Action in College Admissions Must Come to an End

The US Supreme Court issued a landmark decision on June 29, 2023 regarding challenges to race-conscious admissions programs at Harvard University and the University of North Carolina (UNC). In a 6–3 decision split along…more

Affirmative Action, College Admissions, Colleges, Diversity, Diversity and Inclusion Standards (D&I)

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New York Adult Survivors Act: What Employers Should Know

The Adult Survivors Act, a law recently signed by New York Governor Kathy Hochul, will go into effect on November 24 and provide a one-year window for individuals to bring certain previously time-barred sexual offense claims,…more

Crime Victims, Employee Handbooks, New Legislation, Sexual Abuse, Sexual Assault

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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FTC HSR Act Threshold and Filing Fee Increases Become Effective March 6

The previously announced Hart­-Scott­-Rodino Act (HSR Act) jurisdictional filing thresholds and fees will go into effect on March 6, 2024. The Federal Trade Commission’s (FTC’s) previously announced increases to HSR Act…more

Federal Trade Commission (FTC), Filing Fees, Hart-Scott-Rodino Act, Size of Transaction Test, Threshold Requirements

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DOJ Deputy Attorney General Announces Safe Harbor Policy for Voluntary Self-Disclosure in M&A

Deputy Attorney General Lisa Monaco announced the Department of Justice’s (DOJ’s) new “Safe Harbor Policy” impacting mergers and acquisitions (M&A) on October 4. Through the policy, acquiring companies can avoid DOJ charges if…more

Acquisitions, Department of Justice (DOJ), Mergers, Self-Disclosure Requirements, Voluntary Disclosure

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Baltimore Bridge Collapse: Key Insurance Considerations for Impacted Businesses

The catastrophic collapse of the Baltimore Francis Scott Key Bridge resulted in the tragic loss of life, severed part of Interstate 695, and shut down one of the busiest ports in the United States. The disaster could become one…more

Business Interruption, Commercial General Liability Policies, Insurance Industry, Liability Insurance, Policy Terms

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Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government…more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

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What’s in a Name? FDA Proposes Updates to Its Biosimilar Naming Policy

The US Food and Drug Administration (FDA) issued an updated draft guidance on March 7 on the nonproprietary naming of biologics, titled Nonproprietary Naming of Biological Products: Update (Guidance). This update is FDA’s second…more

Biosimilars, Draft Guidance, Food and Drug Administration (FDA), Life Sciences

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Lack of Regulation on Book Value Transfer Between Partnerships with Identical Shareholdings Unconstitutional

In its decision dated 28 November 2023 (2 BvL 8/13), the German Federal Constitutional Court (BVerfG) ruled that Sec. 6 Para. 5 Sent. 3 German Income Tax Act (Einkommensteuergesetz, EStG) violates the principle of equality…more

Germany, Income Taxes, Shareholders, Transfer of Assets

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Breaking Down the USPTO’s Not-So-Obvious Obviousness Guidelines

The US Patent and Trademark Office (USPTO) recently updated its guidance for patent examiners and applicants in determining obviousness under 35 USC § 103, based on the US Supreme Court’s ruling in KSR Int’l Co. v. Teleflex…more

America Invents Act, Corporate Counsel, Intellectual Property Protection, Obviousness, Patent Applications

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FINRA Releases Revised 4210 Margin Rule Proposal

The reproposed amendments to Rule 4210 attempt to address commenters’ concerns that the original proposed rule would impact business activity in the TBA market…more

Adjustable-Rate Mortgage, Asset-Backed Securities, Banking Sector, Broker-Dealer, Collateralized Loan Obligations

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High-stakes Game: IRS ‘goes on the Offense’ Against Sports Industry Partnership Losses

Sports industry partnerships are now on notice that the Internal Revenue Service (IRS) is initiating specialized, issue-based BBA partnership examinations focusing on their income and deductions…more

Income Taxes, IRS, Tax Deductions, Tax Planning, Tax Returns

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US District Court Declares Corporate Transparency Act Is Unconstitutional

The US District Court for the Northern District of Alabama issued a landmark decision on March 1, 2024 in which it held that the Corporate Transparency Act (CTA) is unconstitutional. In the opinion, Judge Liles Burke held that…more

Beneficial Owner, Corporate Transparency Act, Financial Crimes, FinCEN, Reporting Requirements

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IRS Proposes One-Year Limit on Use of Forfeitures in Defined Contribution Plans

The Internal Revenue Service (IRS) recently issued proposed regulations that would require forfeitures in defined contribution plans—i.e., unvested benefits forfeited by terminating defined contribution plan participants—to be…more

Benefit Plan Sponsors, Defined Contribution Plans, Employee Benefits, Forfeiture, IRS

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Back in the Classroom, but Not Back to ‘Normal’

The education industry, like many others, saw a fundamental shift in 2020 as remote learning challenged some of the long-held traditions of institutions, educators, and related companies. From federal support of reopening…more

American Rescue Plan Act of 2021, Biden Administration, Coronavirus/COVID-19, DACA, Education Reform

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COVID-19: Moscow Steps Up Workplace Restrictions, Introduces Reporting Requirements as Infection Rises

In response to the coronavirus (COVID-19) pandemic, President Vladimir Putin authorized the heads of Russian regions to determine the lockdown rules depending on the epidemiological situation in a particular territory. In this…more

Coronavirus/COVID-19, Government Lockdown, Infectious Diseases, Re-Opening Guidelines, Remote Working

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DOJ and OIG Warn Against Fraud Schemes Related to COVID-19 Pandemic

In managing the quickly evolving healthcare landscape during this current crisis, healthcare companies should be wary of fraudsters who attempt to divert critical resources…more

Coronavirus/COVID-19, Fraud, Medical Supplies, Personal Protective Equipment, Risk Mitigation

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SEC Adopts New Dealer Rules to Capture Liquidity Providers

On February 6, 2024, the US Securities and Exchange Commission (SEC) adopted new Rules 3a5-4 and 3a44-2 (the Final Rules) under the Securities Exchange Act of 1934 (the Exchange Act) to further define what it means to be engaged…more

Broker-Dealer, Enforcement Actions, Investment Adviser, Securities and Exchange Commission (SEC), Securities Exchange Act

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Contract Corner: Best Practices for Securing IP Ownership

Part 1 of this three-part series discusses intellectual property ownership rights in the absence of another agreement. Part 2 addresses some of the common ways that parties can allocate the ownership of intellectual property in…more

Copyright Ownership, Intellectual Property Protection, Non-Disclosure Agreement, Patent Ownership, Trademark Ownership

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IRS Provides Guidance on Tax Reform’s New § 965 Deemed Repatriation Provision

It answers some questions but leaves many issues unresolved. On December 29, the US Internal Revenue Service (IRS) issued Notice 2018-07—Guidance under Section 965 (the Notice)—indicating its intent to issue regulations for…more

Consolidated Tax Returns, Foreign Currency, IRS, Repatriation, Subpart F

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Statement of Changes to UK Immigration Rules Announced (Updated)

The UK government published a Statement of Changes to the Immigration Rules, providing details for the much-anticipated changes to sponsored worker salary thresholds, the new Immigration Salary List, and increased income…more

Foreign Nationals, Foreign Workers, Immigrants, Immigration Procedures, UK

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Second Circuit Reverses Marblegate Holding on TIA § 316(b)

Court holds that TIA § 316(b) prohibits only non-consensual amendments to an indenture’s core payment terms. The US Court of Appeals for the Second Circuit limited the ability of minority bondholders to challenge…more

Bonds, Creditors, Foreclosure Sales, Trust Indenture Act

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Emirates Investment Authority’s Rima Hadid: Our Legacy Will Be What We Did for Others

Rima Hadid, General Counsel for the Emirates Investment Authority, has more than two decades of in-house experience, most notably at two key sovereign wealth funds. Rima moved to Bahrain from Australia in 2003 and has built a…more

Investment, Investment Funds, Sovereign Wealth Funds, United Arab Emirates (UAE)

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PBGC Modernizes De Minimis Distribution Rates

The Pension Benefit Guaranty Corporation (PBGC) published a final rule (Final Rule) on September 9 providing that effective January 1, 2021, it will use the interest and mortality assumptions under Internal Revenue Code (Code)…more

Defined Benefit Plans, Distribution Rules, Employee Benefits, Internal Revenue Code (IRC), IRS

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Time’s Up? PTAB's Jurisdiction to Issue Post-Statutory Deadline Final Written Decision

The US Court of Appeals for the Federal Circuit in Purdue Pharma L.P. v. Collegium Pharm. Inc. addressed a unique situation in November 2023 whereby the Patent Trial and Appeal Board failed to issue its Final Written Decision…more

Final Written Decisions, Patent Infringement, Patent Litigation, Patent Trial and Appeal Board, Patents

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DIFC Funds Regime Introduces Changes to Improve Flexibility, Clarity

In line with its position as the leading financial hub for the Middle East and North Africa region, the Dubai International Financial Centre (DIFC) has improved the flexibility of its funds regime, which should make it more…more

DIFC, Dubai, Investment Management, Private Investment Funds, United Arab Emirates (UAE)

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EPA Announces Creation of Office of Environmental Justice and External Civil Rights

US Environmental Protection Agency Administrator Michael Regan announced on September 24 that the agency is establishing a new national office focused on advancing environmental justice and civil rights…more

Biden Administration, Environmental Justice, Environmental Policies, Environmental Protection Agency (EPA), Executive Orders

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Federal Fiscal Court Confirms Previous Case Law on the Taxation of Management Participations

In its rulings dated December 14, 2023 (VI R 1/21 and VI R 2/21 NV), the Federal Fiscal Court (BFH) confirmed its previous case law on the taxation of management participations and further specified the criteria for…more

Acquisitions, Capital Gains, Income Taxes

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EU AI Act: How Far Will EU Copyright Principles Extend?

The new EU AI Act contains provisions that reach beyond EU borders that could conflict with US copyright law, among others, when proprietary datasets are used for AI training. Therefore, US companies doing business in Europe…more

Artificial Intelligence, Copyright, Copyright Infringement, Corporate Counsel, EU

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The Trends—and Traps—that Will Shape 2023

The last few years have thrown many surprises at businesses. Organizations across all sectors have faced inflation, global conflicts, supply chain challenges, a pandemic, and continually changing government policies. In 2023,…more

Automotive Industry, Capital Markets, Cryptocurrency, Energy Sector, EU

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USPTO and Copyright Office Grant Deadline Relief, Further Guidance Awaited

The Director of the US Patent and Trademark Office and the Acting Register of the US Copyright Office have now taken action pursuant to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide relief from…more

CARES Act, Coronavirus/COVID-19, Deadlines, Filing Deadlines, Intellectual Property Protection

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Open Banking – Update for 2020

In December 2019, we published a blog post introducing open banking; here, we provide an update for 2020. To briefly summarize, open banking comprises a set of rules which permit third-party providers (TPPs) of financial…more

Cyber Crimes, Cybersecurity, Data Collection, Data Management, EU

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Select Broker-Dealer Enforcement Cases and Developments: 2014 Year in Review

This Outline highlights key U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) and Financial Industry Regulatory Authority (“FINRA”) enforcement developments and cases regarding broker dealers.* The SEC…more

Broker-Dealer, Enforcement, Enforcement Actions, Municipal Securities Issuers, Securities and Exchange Commission (SEC)

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New Law Expands Prohibitions on Restrictive Covenant Agreements With Illinois Employees

Illinois Governor J.B. Pritzker signed new legislation on August 13 amending the Illinois Freedom to Work Act (the Act). The amended Act codifies certain existing common law principles and imposes new requirements that will…more

Collective Bargaining Agreements (CBA), Confidential Information, Employer Liability Issues, Employment Contract, Hiring & Firing

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FTC Settles Consumer Review Charges against Fashion Nova and Signals More Action to Come - Retail Did You Know?

The US Federal Trade Commission (FTC) has settled charges brought against Fashion Nova, LLC (Fashion Nova) under Section 5(a) of the FTC Act for failure to publish negative product reviews on its website. This edition of Morgan…more

Federal Trade Commission (FTC), FTC Act, Marketing, Online Reviews, Section 5

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2017 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases…more

Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Penalties, Securities and Exchange Commission (SEC)

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Fifth Circuit: Solvent-Debtor Exception Is Alive and Well

A panel of the US Court of Appeals for the Fifth Circuit issued its long-anticipated decision in the Ultra Petroleum make-whole and post-petition interest dispute, with the majority holding that the solvent-debtor exception…more

Bankruptcy Code, Bankruptcy Court, Debtors, Make-Whole Premium, Post-Petition Interest

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New EPA Guidance Cuts Prior Residential Soil Lead Levels in Half

The US Environmental Protection Agency (EPA) recently lowered the recommended regional screening level (RSL) and regional removal management level (RML) for lead-contaminated soil in areas where children live and play from 400…more

CERCLA, Clean Air Act, Contamination, Environmental Protection Agency (EPA), RCRA

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San Francisco to Impose Tax on Companies with Disproportionate Executive Pay

San Francisco voters on November 3 approved Proposition L, which imposes an additional tax on businesses whose highest paid executive makes 100 times or more than the median salary of the business’s employees based in San…more

Ballot Measures, Business Taxes, Compensation & Benefits, Executive Compensation, New Legislation

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SEC Approves December 1 as Required Compliance Date for Listing Exchange Clawback Requirements

The Securities and Exchange Commission (SEC) approved on June 9 amended versions of the listing exchange standards by the New York Stock Exchange and Nasdaq. Consequently, the clawback rules will become effective on Monday,…more

Clawbacks, Nasdaq, NYSE, Securities and Exchange Commission (SEC)

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The Intersection of Artificial Intelligence, COVID-19, and Copyright

While artificial intelligence promises to be useful in responding to the coronavirus (COVID-19) pandemic, companies should be aware of potential copyright considerations. The sudden and severe impact of COVID-19 has created many…more

Artificial Intelligence, Copyright, Coronavirus/COVID-19, Intellectual Property Protection, Patents

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DOJ: Corporate Compliance Programs Must Be Truly Effective

In its updated guidance issued on Tuesday, the US Department of Justice Criminal Division places effectiveness at the epicenter of its factors to be utilized when evaluating a company’s compliance program in the context of a…more

Compliance, Corporate Counsel, Criminal Investigations, Department of Justice (DOJ)

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New OFCCP Rule Changes Investigative Process—to the Detriment of Contractors

The US Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) recently issued a new final rule that will change how the agency investigates and enforces allegations of discrimination against federal…more

Federal Contractors, Investigations, Notice of Violation, OFCCP

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Washington State Year-End Legislative Developments Employers Need to Know

Washington state recently enacted several laws expanding protections for employees. Washington employers should be aware that these laws have significant implications in the workplace, including restrictions on employers’…more

Disclosure Requirements, Employer Liability Issues, Over-Time, Quotas, Recordkeeping Requirements

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California’s Revised Prescription Drug Price Transparency Regulations Effective April 1

Effective April 1, 2024, California will expand its existing prescription drug price transparency requirements by enacting legislation to amend and clarify requirements on wholesale acquisition cost increase reporting and notice…more

Drug Pricing, Manufacturers, Pharmaceutical Industry, Prescription Drugs, Transparency

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District of Massachusetts Adds Certainty to Local Patent Rules

Effective June 1, the local rule for patent cases in the US District Court for the District of Massachusetts, Local Rule 16.6, has been amended. The amendments replace the former rule entirely and apply to all cases for which a…more

Claim Construction, New Amendments, Patents

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Supreme Court Adopts Broad Interpretation of Primary Liability in SEC Antifraud Case

In a decision beneficial to the US Securities and Exchange Commission, the US Supreme Court has affirmed that those persons who disseminate statements containing material misrepresentations or omissions are primarily liable for…more

Appeals, Enforcement Actions, False Statements, Fines, Intent to Defraud

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Pennsylvania Does Not Recognize Duty to Warn an Employee’s Spouse

District court predicts that Pennsylvania will not recognize a duty to protect or warn the spouse of an employee in “take home” or “household” asbestos exposure cases. On August 26, Judge Eduardo C. Robreno of the U.S…more

Asbestos, Boeing, Employer Liability Issues, Take-Home Exposure

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NJ State Contractors Required to Mandate Vaccination or Weekly Covid-19 Testing – Publications

Under a newly signed executive order in New Jersey, all state contractors and subcontractors entering agreements with the state must include a clause that requires all covered workers to either provide adequate proof to the…more

Coronavirus/COVID-19, Employer Liability Issues, Executive Orders, Governor Murphy, Public Health

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New York Drops COVID-19 Restrictions as State Reaches 70% Vaccination Goal

Governor Andrew Cuomo announced on June 15 that the State of New York reached its goal of 70% of adult New Yorkers receiving at least one dose of a COVID-19 vaccine. As anticipated based on prior announcements, Governor Cuomo…more

Coronavirus/COVID-19, Critical Infrastructure Sectors, Emergency Management Plans, Health and Safety, Infectious Diseases

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Russia Adopts New Investment Law

President Vladimir Putin signed a package of laws (informally referred to as the Investment Code) on 1 April to encourage further investment in Russia. The primary tool that the new legislation offers to investors is an…more

Capital Investments, Corporate Sales Transactions, Covered Transactions, Investment, New Legislation

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HM Treasury Publishes Near-Final Draft of UK Securitisation Regulations 2023

HM Treasury recently published a near-final draft of a statutory instrument that, together with rules to be made by the UK regulators, will replace the UK Securitisation Regulation. This will result in some noteworthy changes to…more

Disclosure Requirements, Due Diligence, Financial Conduct Authority (FCA), HM Treasury, Securitization

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

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Washington State Year-End Legislative Developments Employers Need to Know

Washington state recently enacted several laws expanding protections for employees. Washington employers should be aware that these laws have significant implications in the workplace, including restrictions on employers’…more

Disclosure Requirements, Employer Liability Issues, Over-Time, Quotas, Recordkeeping Requirements

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Brexit and Judicial Cooperation – All Is Not Lost…Yet

The smooth functioning of international civil legal proceedings across European Union (EU) national frontiers has been one of the benefits of EU membership. With the United Kingdom (UK) now departing from the EU, are…more

Cross-Border, EU, Foreign Jurisdictions, International Business Courts, International Litigation

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NLRB Blocked from Implementing Expansive Joint Employer Rule

A federal district court recently vacated the National Labor Relations Board’s 2023 joint employer rule (2023 Rule), which would have expanded the standard to hold separate companies joint employers based on indirect or reserved…more

Collective Bargaining, Employer Liability Issues, Joint Employers, NLRB, Unions

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No More Public Access to German Transparency Register Due to New European Court of Justice Ruling

The European Court of Justice in a recent judgment nullified a key provision in the 2018 version of the EU Money Laundering Directive requiring that information regarding beneficial owners registered in the European national…more

Anti-Money Laundering, Beneficial Owner, Court of Justice of the European Union (CJEU), Disclosure Requirements, EU

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SEC Approves E-Delivery of Shareholder Reports, Requests Comments on Other Areas

The US Securities and Exchange Commission recently adopted Rule 30e-3 under the Investment Company Act of 1940, which will provide registered funds with a “notice and access” option for delivering shareholder reports. Although…more

Investment Company Act of 1940, Notice Requirements, Securities and Exchange Commission (SEC), Shareholders

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Massachusetts High Court Issues Three Major Wage and Hour Decisions

The Massachusetts Supreme Judicial Court recently issued three decisions with significant implications for employers in the commonwealth, holding that (1) when an employer pays wages to an employee after the deadlines provided…more

ABC Test, Employer Liability Issues, Fair Labor Standards Act (FLSA), Federal Trade Commission (FTC), Franchises

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Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

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US Supreme Court Restricts Use of US Courts to Aid in Discovery for International Arbitrations

Parties seeking to use the US court system to facilitate discovery in foreign commercial and investor-state arbitrations may no longer have that option…more

28 U.S.C. § 1782, Commercial Arbitration, Discovery, Foreign Jurisdictions, Foreign Tribunals

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DOE Increases Civil Monetary Penalties Under 10 CFR Part 810

The US Department of Energy (DOE) has published a final rule increasing civil monetary penalties (CMPs) for unintentional violations of 10 CFR Part 810 (Part 810). The rule, which took effect on January 9, 2024, increases the…more

Civil Monetary Penalty, Department of Energy (DOE), Energy Sector, Nuclear Power

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

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Navigating Trends and Pitfalls in Power and Utilities M&A Transactions

For businesses in the highly regulated areas of electric, gas, and water, and businesses in the wholesale electric generation space, there are many key considerations to keep in mind when pursuing an M&A transaction…more

Acquisition Agreements, Energy Storage, Infrastructure, Merger Agreements, Oil & Gas

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US Supreme Court Allows Trademark Registration for Booking.com

The US Supreme Court has rejected a bright-line rule denying applications to register trademarks comprising a generic term and “.com.” In an 8–1 decision by Justice Ruth Bader Ginsberg in United States Patent and Trademark…more

Acquired Distinctiveness, Appeals, Booking.com, Domain Name Registration, Domain Names

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California EPA Adopts Public Health Goals for PFOA and PFOS

The California Environmental Protection Agency (CalEPA) on April 5 set new public health goals for two per- and polyfluoroalkyl substances (PFAS) in drinking water, signaling the possibility of strict regulation by the state…more

Drinking Water, Environmental Protection Agency (EPA), OEHHA, PFAS, Water

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California Appellate Court Holds Web Access Claims Against Web-Only Businesses Fail Under ADA and Unruh Act

The California Court of Appeal, Second Appellate District, issued a decision on August 1 holding that websites without any connection to physical place of business are not “places of public accommodation” under Title III of the…more

Americans with Disabilities Act (ADA), Diversity Jurisdiction, Forum Shopping, Principal Place of Business, Public Accommodation

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US Supreme Court Hears Oral Arguments in Challenge to Chevron Deference

The US Supreme Court recently debated the future of the legal precedent known as Chevron deference in two separate cases arising out of the National Marine Fisheries Service’s statutory interpretation of the Magnuson-Stevens…more

Chevron Deference, Loper Bright Enterprises v Raimondo, Magnuson-Stevens Act (MSA), National Marine Fisheries Service, Oral Argument

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New Act Authorizes Sanctions for Trade Secret Theft

Congress recently passed and sent to the president the Protecting American Intellectual Property Act of 2022. The act mandates sanctions on entities and individuals identified by the executive branch as having committed…more

China, Intellectual Property Protection, International Emergency Economic Powers Act (IEEPA), Judicial Review, National Security

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2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,…more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

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DOJ Emphasizes Importance of Antitrust Compliance Programs for HR Professionals

The US Department of Justice’s Antitrust Division recently stated that antitrust compliance programs must include training for human resources professionals on issues such as wage-fixing and no-poach agreements in order to be…more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Competition, Department of Justice (DOJ)

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Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

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Environmental, Social, and Governance Investing: A Bridge to Shari’a-Compliant Investments in the GCC?

It has been reported that some asset managers in the Gulf Cooperation Council (GCC) expect stronger inflows amid growing demand for environmental, social, and governance (ESG) and Islamic-compliant investments. The rise in the…more

Environmental Social & Governance (ESG), Foreign Investment, Gulf Cooperation Council (GCC), Islamic-Compliant, Sustainability

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US Supreme Court: Highly Compensated Employees Entitled to Overtime Unless FLSA Exemption Requirements Satisfied

In Helix Energy Solutions Group Inc. v. Hewitt, the US Supreme Court held (on the facts of that case) that an employer had improperly classified a supervisory employee earning more than $200,000 per year as an exempt “executive”…more

Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Helix Energy Solutions Group Inc v Hewitt No 21-984, Highly Compensated Employees

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Current Developments in SEC Enforcement for Public Companies 2024

The US Securities and Exchange Commission (SEC) continued its significant focus on public companies in 2023 with its enforcement and rulemaking programs, and this heightened level of attention will continue throughout 2024…more

10b5-1 Plans, Disclosure Requirements, Insider Trading, Securities Act of 1933, Securities and Exchange Commission (SEC)

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Assessing Your Health Plan’s Service Provider Compensation

Based on new ERISA disclosure rules, now is a good time to review the compensation paid to your health plan’s consultant and broker. ERISA Section 408(b)(2)(B) requires brokers and consultants expecting $1,000 or more in direct…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

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Charging Ahead: Top Issues and Opportunities Facing the EV Industry

Electric vehicles (EVs) will make up a significant portion of new light-duty personal vehicles sold over the next decade. Despite recent media coverage depicting EVs as floundering novelties akin to the Bricklin or DeLorean, the…more

Automotive Industry, Charging Stations, Electric Vehicles, Infrastructure, Manufacturers

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Main Street Lending Program (UPDATED)

This White Paper gives a broad understanding of the terms and implications of the Main Street Lending Program by delving into the key questions market participants are likely to have and addressing the latest changes implemented…more

Coronavirus/COVID-19, FRB, Main Street Lending Programs, Main Street New Loan Facility, Relief Measures

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Los Angeles ‘Mansion Tax’ May Be Lessened Using Tenants-in-Common Structure

A recent amendment to the Los Angeles Municipal Code, Measure ULA, has greatly increased the real property transfer taxes for realty sold within the city. Properties owned and sold as tenants in common may help limit the impact…more

Real Estate Market, Realty Transfer Taxes, Tenants, Tenants in Common

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UK: Flexible Working Consultation – A Default Right?

On 23 September, the UK government published a consultation document, “Making flexible working the default”, which proposes various reforms to the right for employees to request flexible working arrangements—particularly in…more

Coronavirus/COVID-19, Employee Benefits, Employer Liability Issues, Employment Rights Act, Flexible Work Arrangements

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Final Section 956 Regulations Follow Approach of Proposed Regulations—with Two Helpful Modifications

Final regulations applicable to controlled foreign corporations and their US shareholders, issued by the US Treasury under Code Section 956, generally follow previously proposed regulations but introduce two modifications: a new…more

Banking Sector, Controlled Foreign Corporations, Financial Services Industry, Section 956, Shareholders

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California Announces 2024 Substantial Increase in Computer Professional Exemption Compensation Rate

California employers must ensure that compensation rates for exempt computer professionals meet updated salary thresholds, as of January 1, 2024. The minimum wage thresholds for the California computer professional…more

Consumer Price Index, Department of Industrial Relations, Department of Labor (DOL), Employer Liability Issues, Fair Labor Standards Act (FLSA)

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Managing Welfare Plan Risk: The Fiduciary Committee

Fiduciary committees have long been established in connection with retirement plans to manage the investment, legal compliance, and operational risks that can arise under the Employee Retirement Income Security Act of 1974, as…more

Affordable Care Act, Benefit Plan Sponsors, COBRA, Employee Benefits, Employee Retirement Income Security Act (ERISA)

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Select Broker-Dealer Enforcement Cases and Developments: 2014 Year in Review

This Outline highlights key U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) and Financial Industry Regulatory Authority (“FINRA”) enforcement developments and cases regarding broker dealers.* The SEC…more

Broker-Dealer, Enforcement, Enforcement Actions, Municipal Securities Issuers, Securities and Exchange Commission (SEC)

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Supreme Court Limits American Pipe Tolling

The unanimous ruling in China Agritech, Inc. v. Resh, et al., reflects the US Supreme Court’s continued attempt to confine American Pipe tolling, denying such tolling for follow-on class actions filed after the expiration of…more

Appeals, China Agritech Inc v Resh, Class Action, Class Certification, Class Members

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FTC Policy Statement on Orange Book Listings Brings More Clarity (Sort Of)

With the J.P. Morgan Healthcare Conference taking place in San Francisco this week, what better time for an update on the Orange Book? The US Federal Trade Commission (FTC), supported by the US Food and Drug Administration…more

Competition, Federal Trade Commission (FTC), Food and Drug Administration (FDA), FTC Act, Life Sciences

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2016 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases…more

Anti-Money Laundering, Broker-Dealer, Conflicts of Interest, Custody Rule, Customer Protection Rule

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Rewind and (P)FAST Forward: Current Developments in PFAS Regulation

With a flurry of new regulatory activity involving per- and polyfluoroalkyl substances (PFAS), 2023 proved to be a milestone year for PFAS governance by the US Environmental Protection Agency (EPA). Among other key developments,…more

Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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EPA Finalizes New Enforceable National Drinking Water Regulation

On April 10, 2024, the US Environmental Protection Agency (EPA) finalized its highly anticipated new rule aimed at reducing the level of certain per- and polyfluoroalkyl substances (PFAS) in drinking water. The final rule is not…more

Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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Commenters Weigh in on Proposed Federal MDL Rule to Help Shape Future of Mass Litigation

The Federal Advisory Committee on Civil Rules has opened public comment on proposed Rule 16.1, which addresses case management in multidistrict litigation (MDL) proceedings. The proposed rule attempts to provide guidance for…more

Case Management, Comment Period, Discovery, Federal Rules of Civil Procedure, Multidistrict Litigation

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Silicon Valley Bank Collapse: Initial Issues Raised

The California Department of Financial Protection & Innovation on March 10 declared Silicon Valley Bank insolvent and appointed the FDIC as receiver. To help with the resolution of SVB, the FDIC created the Deposit Insurance…more

Banking Sector, Deposit Insurance, Disclosure Requirements, FDIC, Financial Crisis

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Legal Considerations for WHO’s ‘Possibly Carcinogenic’ Aspartame Classification

On July 14, 2023, the World Health Organization (WHO) published a summary of two findings regarding aspartame, an artificial sweetener found in many consumer products. One finding categorized aspartame as “possibly…more

Cancer, Commercial Insurance Policies, Duty to Defend, Food and Drug Administration (FDA), Food Labeling

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EPA Updates Model Remedial Design/Remedial Action Consent Decree and Statement of Work

The updated model of the remedial design/remedial action consent decree and statement of work seeks to streamline and quicken CERCLA settlement negotiations and address environmental justice concerns of Superfund sites in…more

CERCLA, Consent Decrees, Department of Justice (DOJ), Environmental Justice, Environmental Protection Agency (EPA)

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Managing Welfare Plan Risk: The Fiduciary Committee

Fiduciary committees have long been established in connection with retirement plans to manage the investment, legal compliance, and operational risks that can arise under the Employee Retirement Income Security Act of 1974, as…more

Affordable Care Act, Benefit Plan Sponsors, COBRA, Employee Benefits, Employee Retirement Income Security Act (ERISA)

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FCC Fines Non-Telecom Companies for Lapse in Compliance with Wireless Rules

FCC Fines Non-Telecom Companies for Lapse in Compliance with Wireless Rules August 19, 2016 The enforcement action highlights the importance of complying with FCC rules with respect to their wireless facilities and devices…more

Approval Requirements, Assignments, Enforcement Actions, FCC, Fines

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US Government Presses on with PFAS Regulation

The US government took another step toward further regulation of per- and polyfluoroalkyl substances (PFAS) on December 15 with the US Senate passing the National Defense Authorization Act for Fiscal Year 2022 by a vote of…more

Department of Defense (DOD), Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances, NDAA

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US Supreme Court Bars Claims Involving Defined Benefit Plan Investments

In a 5-4 decision in Thole v. U.S. Bank N.A., the US Supreme Court has ruled that defined benefit plan participants lack Article III standing to sue for fiduciary breaches that do not harm the individual participants. As the…more

Article III, Breach of Duty, Defined Benefit Plans, Duty of Loyalty, Duty of Prudence

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New York State Year-End Legislative Developments for Employers to Know

New York recently enacted a number of laws and rules affecting New York employers, many of which took effect immediately. Some of these laws are significant, including changes to the confidentiality preference agreements…more

Corporate Counsel, Employee Rights, Employer Liability Issues, Employment Discrimination, Separation Agreement

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2016 Post-Election Report

President - While final vote tallies are still being counted in several battleground states, Republican Donald J. Trump has surpassed the 270 Electoral College vote threshold to be elected as the 45th president of the…more

Ballot Measures, Political Campaigns, Political Candidates, Presidential Elections, State and Local Government

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Get Ready, Set, and Go to the JPM Healthcare Conference

As Prescribed and Health Law Scan subscribers know that the end of the holidays means the annual J.P. Morgan (JPM) Healthcare Conference is only days away. To make the most of the 2024 conference and conference-adjacent…more

Biotechnology, Investors, Life Sciences, Pharmaceutical Industry, Research and Development

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M&A in the Ever-Changing Fintech Landscape

Fintech is having a meteoric rise among investors in the emerging tech space, accounting for the second-highest area of investment with $3.8 billion in 2021. Q4 2021 alone saw $824 million across 23 deals, indicating a strong…more

Acquisitions, Banking Sector, Blockchain, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB)

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FERC Issues Rule to Implement Revisions to PURPA Regulations

FERC has issued a final rule, Order No. 872, revising the Commission’s regulations governing qualifying small power producers and co-generators (collectively, qualifying facilities or QFs) under the Public Utility Regulatory…more

Electric Generation Suppliers, Energy Policy, Federal Power Act, FERC, Power Plants

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European Banking Authority Issues Recommendations for Outsourcing to Cloud Service Providers

European financial institutions (competent authorities, credit institutions, and investment firms as defined in EU Regulation No. 575/2013, collectively Institutions) have been instructed to comply with the European Banking…more

Banking Sector, Cloud Service Providers (CSPs), EU, European Banking Authority (EBA), Financial Institutions

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Providers: Are You Prepared for Broadband Label Requirements?

The Federal Communications Commission’s (FCC’s) broadband label requirements take effect as soon as April 10, 2024, but preparation to meet this deadline—including extensive documentation and information technology…more

Broadband, FCC, Labeling, Telecommunications

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Commenters Weigh in on Proposed Federal MDL Rule to Help Shape Future of Mass Litigation

The Federal Advisory Committee on Civil Rules has opened public comment on proposed Rule 16.1, which addresses case management in multidistrict litigation (MDL) proceedings. The proposed rule attempts to provide guidance for…more

Case Management, Comment Period, Discovery, Federal Rules of Civil Procedure, Multidistrict Litigation

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California Further Bolsters its Prohibitions on Noncompete Agreements

On the heels of the enactment of Senate Bill 699, which fortified California’s restrictions on noncompete agreements and other restrictive covenants and provided additional employee protections, California has once more…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Non-Solicitation Agreements, Restrictive Covenants

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New York’s Marijuana Regulation and Taxation Act: Employer Considerations

New York’s Marijuana Regulation and Taxation Act legalized recreational cannabis in New York State on March 31, 2021. While it will take some time to organize and implement many aspects of the law ..…more

Adverse Employment Action, Decriminalization of Marijuana, Disability Discrimination, Employment Policies, Marijuana

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Ultra Court Confirms Make-Whole Amount and Post-Petition Interest for OpCo Noteholders

The court awarded OpCo Noteholders in excess of $320 million in Make-Whole Amount and post-petition interest, confirming that make-whole is an enforceable liquidated damage claim…more

Bankruptcy Court, Liquidated Damages, Make-Whole Doctrine, Noteholders

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FINRA Again Seeks Information on Broker-Dealers’ Digital Asset Activities

In its continued efforts to learn what broker-dealers and their employees are doing in the digital asset space, FINRA has effectively reissued a regulatory notice requesting that broker-dealers keep FINRA apprised of their…more

Blockchain, Broker-Dealer, Cryptocurrency, Digital Assets, Financial Industry Regulatory Authority (FINRA)

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US Supreme Court Narrows Applicability of Clean Water Act to Wetlands

The US Supreme Court issued a decision on May 25, 2023 finding that the US Environmental Protection Agency (EPA) and US Army Corps of Engineers (USACE) improperly claimed jurisdiction over a wetland on private property. In…more

Clean Water Act, Environmental Protection Agency (EPA), Navigable Waters, Sackett v EPA, SCOTUS

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Hawaii Revised Statutes Amended to Address Pay Transparency and Equal Pay

Hawaii Governor Josh Green recently signed into law a requirement that employers in Hawaii include in job listings information on the expected hourly rate or salary range for positions. The July 3, 2023 law is an amendment to…more

Employer Liability Issues, Equal Pay, Pay Transparency, State Labor Laws, Wage and Hour

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California Appellate Court Holds Web Access Claims Against Web-Only Businesses Fail Under ADA and Unruh Act

The California Court of Appeal, Second Appellate District, issued a decision on August 1 holding that websites without any connection to physical place of business are not “places of public accommodation” under Title III of the…more

Americans with Disabilities Act (ADA), Diversity Jurisdiction, Forum Shopping, Principal Place of Business, Public Accommodation

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CARB Calls on Motor Vehicle Industry to Self-Report Regulatory Violations

Citing recent investigations and new emissions detection capabilities, the California Air Resources Board (CARB) urges automakers and equipment manufacturers to voluntarily disclose potential violations of regulatory…more

Auto Parts, Automotive Industry, CARB, Enforcement Guidance, Environmental Policies

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Ninth Circuit Holds That Social Media Posts Can Give Rise to Securities Act Liability

The US Court of Appeals for the Ninth Circuit recently held that a person who makes social media posts promoting securities—motivated at least in part by their own financial interests or those of the securities’ owner—is…more

Corporate Issuers, Disclosure Requirements, Public Offerings, Securities Act of 1933, Securities and Exchange Commission (SEC)

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Names Rule Amendments Will Require Changes For Certain Funds

On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping…more

Amended Rules, Investment Companies, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

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Court Limits FERC’s Authority to Direct Modifications Under Section 205

The court reaffirms that when reviewing a utility’s filing under Section 205, FERC may not “transform the proposal into an entirely new rate.”…more

Energy Sector, Federal Power Act, FERC, PJM, Section 205

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The Regulatory Overlay On ESG Investing

This White Paper highlights the legal and regulatory considerations in the United States, the United Kingdom, the European Union, Hong Kong, and Singapore that asset managers and their institutional investor clients should…more

Best Practices, Business Plans, Business Strategies, Capital Investments, Corporate Governance

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LIBOR Transition Updates – More Certainty in Spread Adjustments Calculations?

Recent updates from the Bank of England, the New York Federal Reserve, and the International Swaps and Derivatives Association and Bloomberg in connection with publication of IBOR fallback rate adjustments should be welcomed by…more

Alternative Reference Rates Committee (ARRC), Derivatives, Financial Institutions, Financial Services Industry, Inter-Bank Offered Rates (IBORs)

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Abu Dhabi Global Market Consults on Whistleblower Protection

The Abu Dhabi Global Market free zone (ADGM) is seeking public consultation on its proposals for a whistleblowing framework, which will lead to the introduction of Whistleblower Protections Regulations (the Regulations) and…more

Abu Dhabi Global Markets (ADGM), Employer Liability Issues, Retaliation, Whistleblowers

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Federal Circuit Lowers Bar for Proving Design Patent Infringement

In a much-anticipated opinion that addresses an issue of first impression, the US Court of Appeals for the Federal Circuit narrowed the scope of “comparison prior art”―prior art considered by the fact finder during an…more

Corporate Counsel, Design Patent, Intellectual Property Protection, Patent Infringement, Patent Litigation

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State Establishment of PDABs: Will Unaffordability Determinations Survive Test of Time?

2024 is shaping up to be a big year for prescription drug affordability boards (PDABs). Like state price transparency reporting laws, state legislation establishing PDABs continues expansion. In response to rising prescription…more

Drug Pricing, Pharmaceutical Industry, Pharmacies, Prescription Drugs

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Burger King Has Its Way: Vegan Whopper Class Action Suit Dismissed

In an order issued on July 20, Judge Raag Singhal of the US District Court for the Southern District of Florida dismissed a class action lawsuit that claimed Burger King Corporation’s advertising deceived customers by making a…more

Advertising, Breach of Contract, Burger King, Class Action, Food Manufacturers

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Beware of Biometrics: Complying with Illinois’ Biometric Information Privacy Act

Biometrics are physical or behavioral human characteristics that can be used to digitally identify a person to grant access to systems, devices, or data. Examples of biometric identifiers are fingerprints, facial geometry scans,…more

Biometric Information, Biometric Information Privacy Act, Cybersecurity, Data Collection, Data Privacy

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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US Supreme Court Holds ‘Pure Omissions’ Not Actionable Under 10(b) of Securities Exchange Act, Resolving Circuit Split

In a blow to the plaintiffs’ securities bar, the US Supreme Court in Macquarie Infrastructure Corp. v. Moab Partners unanimously held that a “pure omission”—the failure to disclose information in the absence of an inaccurate,…more

Disclosure Requirements, Failure To Disclose, Macquarie Infrastructure Corp v Moab Partners LP, Omissions, Rule 10(b)

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Dealmaking in the Ever-Changing Life Sciences Landscape: Practical Tips and Trends

Dealmaking in the life sciences sector took a major hit in 2022: the year was one of the lowest recorded years by value since 2017, with only $105 billion in merger and acquisition (M&A) deals completed by November 2022. The…more

Acquisitions, Biotechnology, CFIUS, Inflation Reduction Act (IRA), Life Sciences

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LA County Passes Fair Chance Ordinance on Employer Consideration of Criminal History

The County of Los Angeles has announced a new Fair Chance Ordinance, taking effect on September 3, 2024, that will regulate the consideration of criminal history information by employers with five or more employees in…more

Background Checks, Criminal Background Checks, Criminal Records, Employer Liability Issues, Fair Chance Act

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Reminder: New California Employment Regulations Go into Effect July 1

Employers with employees in California should review policies and practices regarding consideration of criminal history in employment decisions as well as protections on the basis of gender identity, gender expression, and…more

Ban the Box, Criminal Background Checks, Employer Liability Issues, Employment Policies, Gender Identity

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ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial…more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

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Trump National Labor Relations Board Reverses Major Obama-Era Decisions

With the issuance of four recent decisions overruling key Obama-era National Labor Relations Board precedent and announcing a review of the NLRB’s 2015 election regulations, the NLRB has begun the process of charting a new…more

Joint Employers, NLRA, NLRB, Trump Administration

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FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024…more

Advertising, Automotive Industry, Automotive Loans, Banks, Car Dealerships

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Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true…more

Investment, Investors, Japan, Limited Partnerships, Partnerships

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COVID-19: Cares Act Provisions Impacting The Banking Sector

The Coronavirus Aid, Relief, and Economic Security (CARES) Act offers broad-based economic support for companies contending with the disruptions caused by the coronavirus (COVID-19) pandemic…more

CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus, Paycheck Protection Program (PPP)

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Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government…more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

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Q&A: From Shale to Scale: Key Market Trends and Issues Impacting Upstream Oil and Gas M&A

Following Morgan Lewis’s most recent Evening in Energy, hosted in the firm’s Houston office, Energy Industry co-leader Andrew Gallo spoke with the event’s keynote speaker Steve Almrud about the trends he’s seeing in the…more

Acquisitions, Energy Sector, Mergers, Oil & Gas

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New York Executive Orders Temporarily Limit Bank, Mortgage Servicer, and Landlord Remedies

In response to the coronavirus (COVID-19) crisis, New York Governor Andrew Cuomo has issued two executive orders that place temporary restraints on the ability of banks, residential mortgage servicers, and landlords to exercise…more

Coronavirus/COVID-19, Executive Orders, Financial Services Industry, Foreclosure, Mortgage Servicers

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Smoother Sailing to 30 GW by 2030: Proposed Enhancements to Offshore Wind Permitting Process

Leaders across the United States are prioritizing offshore wind development as an essential component of any strategy to address climate change, since the ocean is one of the few available areas that can provide enough renewable…more

BOEM, Clean Energy, Energy Projects, Energy Sector, Offshore Lease

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California Appellate Court Holds Web Access Claims Against Web-Only Businesses Fail Under ADA and Unruh Act

The California Court of Appeal, Second Appellate District, issued a decision on August 1 holding that websites without any connection to physical place of business are not “places of public accommodation” under Title III of the…more

Americans with Disabilities Act (ADA), Diversity Jurisdiction, Forum Shopping, Principal Place of Business, Public Accommodation

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That’s a Wrap: FDA Announces Phase-Out of PFAS in Certain Food-Packaging Materials

The US Food and Drug Administration (FDA) recently announced that manufacturers have completed the voluntarily phase-out of the use of certain per- and polyfluoroalkyl substances (PFAS) in grease-proofing agents for food…more

Food and Drug Administration (FDA), Food Manufacturers, Food Safety, Hazardous Substances, PFAS

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COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for…more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

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Restaurant and Food Service Establishments - Opportunities and Considerations Heading Into 2024

RESTAURANTS AND FOOD SERVICE ESTABLISHMENTS: OPPORTUNITIES AND CONSIDERATIONS HEADING INTO 2024 - From a new employment trend to the advantages and risks of technology to an emerging area of class action litigation to a…more

Advertising, False Advertising, Fast-Food Industry, Restaurant Industry, Retailers

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Florida’s New Immigration Law to Require Private Employers to Use E-Verify

Florida’s new immigration bill, effective July 1, will require private employers with 25 or more employees to verify compliance with US work authorization regulations through the E-Verify system. Previously, only public…more

E-Verify, Employer Liability Issues, Employment Eligibility Verification, Foreign Workers, Immigration Procedures

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California EPA Adopts Public Health Goals for PFOA and PFOS

The California Environmental Protection Agency (CalEPA) on April 5 set new public health goals for two per- and polyfluoroalkyl substances (PFAS) in drinking water, signaling the possibility of strict regulation by the state…more

Drinking Water, Environmental Protection Agency (EPA), OEHHA, PFAS, Water

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FTC and USDA Promote Transparency in ‘Made in USA’ Labeling Claims

The Federal Trade Commission (FTC) recently issued a final rule that marks a major shift in the regulatory landscape for labeling that has already begun to impact other regulatory bodies—namely, the US Department of Agriculture…more

Country of Origin, Federal Trade Commission (FTC), Final Rules, FTC Act, Made in the USA

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Football Governance Bill Establishing Independent Football Regulator Introduced to UK Parliament

The Football Governance Bill was introduced to the UK Parliament on 18 March 2024. If passed, the Bill will establish an independent football regulator for England, install a new licensing regime for English football clubs, and…more

Investment, Investors, Soccer, UK, UK Parliament

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OSHA Issues Final ‘Walkaround Rule’ Giving Unions and Other Third Parties Access to Private Employer Worksites

A new rule from the US Occupational Safety and Health Administration (OSHA) affords unions, labor activists, and other third parties access to private worksites during workplace inspections…more

Employer Liability Issues, OSHA, Safety Inspections, Union Representatives, Unions

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California Further Bolsters its Prohibitions on Noncompete Agreements

On the heels of the enactment of Senate Bill 699, which fortified California’s restrictions on noncompete agreements and other restrictive covenants and provided additional employee protections, California has once more…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Non-Solicitation Agreements, Restrictive Covenants

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State Attorneys General Fly into Previously Federal Airspace

The Department of Transportation and 18 states on April 16 agreed to a Memorandum of Understanding (MOU) that delegates more authority to and streamlines the process for state attorneys general to investigate consumer complaints…more

Airlines, Aviation Industry, Department of Transportation (DOT), Memorandum of Understanding, State Attorneys General

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What’s Driving the Future of Asia’s Tech Scene: Key Trends and Regulatory Updates

Heading into 2023, Asia’s tech scene is well-positioned for strong growth potential. As with any industry where advancement and innovation are outpacing regulation, the complex landscape can be difficult for businesses to…more

Asia, CFIUS, Data Privacy, Digital Assets, Due Diligence

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Highest Patent Court Narrows Scope of Covered Business Review

A patent does not qualify for “covered business method” review if its claims are only incidental to a financial activity. The US Court of Appeals for the Federal Circuit (CAFC) recently decided that a claimed method (in…more

Administrative Procedure Act, America Invents Act, CAFC, Covered Business Method Patents, Covered Business Method Proceedings

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‘Indemnify, Defend, and Hold Harmless’: What Does It Really Mean?

An indemnification provision serves as a contractual remedy to redress a party’s (or third party’s) financial loss suffered as a result of a claim, breach, or some other event or condition set forth in the provision…more

Contract Terms, Indemnification Clauses, Indemnity, Indemnity Claim

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Day 3 Dispatch from CERAWeek: A Trip to the Innovation Agora and Other Executive Conference Discussions

Our coverage of the CERAWeek conference by S&P Global in Houston, running from March 18 to March 22, continues with more updates. Today’s missive comes from the Innovation Agora, which is connected to the Executive Conference at…more

Energy Sector, Infrastructure, Natural Gas, Oil & Gas, Pipelines

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Current Developments in SEC Enforcement for Public Companies 2024

The US Securities and Exchange Commission (SEC) continued its significant focus on public companies in 2023 with its enforcement and rulemaking programs, and this heightened level of attention will continue throughout 2024…more

10b5-1 Plans, Disclosure Requirements, Insider Trading, Securities Act of 1933, Securities and Exchange Commission (SEC)

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Global Healthcare Transactions Series: Impact of COVID-19 on Healthcare Mergers and Acquisitions in UAE

The COVID-19 pandemic created many uncertainties and challenges for investors and operators alike across the Middle East, including in the United Arab Emirates, which is often considered a regional healthcare and business hub…more

Acquisitions, Contract Terms, Coronavirus/COVID-19, Hospital Mergers, Material Adverse Change Clauses (MACs)

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Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

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Massachusetts Amends Paid Family and Medical Leave Law

As of November 1, 2023, the Massachusetts Paid Family and Medical Leave (PFML) law will permit employees to supplement their PFML benefits using accrued paid time off (PTO), such as sick or vacation pay. Employers cannot require…more

Employer Liability Issues, Medical Leave, Paid Leave, Paid Time Off (PTO), State Labor Laws

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How Early-Stage Life Sciences Companies Can Avoid Potential Legal Missteps Through These Five Key Commercial Agreements

In the early days of a life science company, there can be confusion and a number of landmines where legal missteps may happen. As part of our 2022 Startup & Accelerate Webinar Series, we look at five key commercial agreements…more

Confidential Information, Early Stage Companies, Entrepreneurs, Life Sciences, Master Service Agreement

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Assessing Your Health Plan’s Service Provider Compensation

Based on new ERISA disclosure rules, now is a good time to review the compensation paid to your health plan’s consultant and broker. ERISA Section 408(b)(2)(B) requires brokers and consultants expecting $1,000 or more in direct…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

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2026 World Cup: Navigating Labor, Employment, and Immigration Challenges

The 2026 Men’s World Cup is expected to draw in a substantial cross-border workforce, meaning participating employers should prepare ahead of time if they want to successfully navigate this global event--including with respect…more

Employer Liability Issues, Foreign Workers, Immigrants, Immigration Procedures

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How Early-Stage Life Sciences Companies Can Avoid Potential Legal Missteps Through These Five Key Commercial Agreements

In the early days of a life science company, there can be confusion and a number of landmines where legal missteps may happen. As part of our 2022 Startup & Accelerate Webinar Series, we look at five key commercial agreements…more

Confidential Information, Early Stage Companies, Entrepreneurs, Life Sciences, Master Service Agreement

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Morgan Lewis Automotive & Mobility – Q3 | 2023

Welcome to the 37th edition of our newsletter on developments in the automotive industry, published by Morgan Lewis’s automotive and mobility team with contributions from lawyers in our offices around the globe. We counsel our…more

Acquisitions, Antitrust Provisions, Automotive Industry, Competition, Mergers

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ESG Investing: The US Regulatory Perspective

As companies increasingly encounter dialogue regarding environmental, social, and governance (ESG) factors, they and their investors and other stakeholders face the task of navigating the sometimes-contradictory web of…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Environmental Social & Governance (ESG), Fiduciary Duty

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The Trends—and Traps—that Will Shape 2023

The last few years have thrown many surprises at businesses. Organizations across all sectors have faced inflation, global conflicts, supply chain challenges, a pandemic, and continually changing government policies. In 2023,…more

Automotive Industry, Capital Markets, Cryptocurrency, Energy Sector, EU

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NRC Proposes Adjustments to Annual Fees and Fee Schedules

The US Nuclear Regulatory Commission (NRC) has issued a proposed rule to amend the licensing, inspection, special project, and annual fees charged to applicants and licensees. The proposed amendments are necessary under the…more

Energy Projects, Energy Sector, Nuclear Power, Nuclear Regulatory Commission

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Deadline for Filing BE-180 Approaches for US Financial Service Providers

As the US Department of Commerce seeks certain financial services data from an expanded list of US financial services providers, most US fund managers, investment advisers, private funds, and registered investment companies will…more

BE-180, BEA, Filing Deadlines, Financial Regulatory Reform, Financial Services Industry

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Could Sponsoring a Pooled Employer Plan Grow Your Business?

While large financial institutions with significant expertise in retirement plan administration are widely expected to sponsor most pooled employer plans (PEPs), other firms (such as franchisors, gig economy employers, joint…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), PEP

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Employee Required to Arbitrate Individual PAGA Claim Maintains Standing to Pursue Representative PAGA Court Claims

In Adolph v. Uber Technologies Inc., the California Supreme Court held that it is not bound by the US Supreme Court’s interpretation of state law in Viking River Cruises v. Moriana, ruling that an order compelling arbitration of…more

Arbitration, Arbitration Agreements, Employment Litigation, Federal Arbitration Act, Preemption

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Navigating the Evolving Landscape of State Consumer Privacy Laws

With the flurry of new consumer privacy laws enacted in states across the country, it is vital for companies operating in multiple states to remain informed of this changing landscape in order to plan and execute their…more

Consumer Privacy Rights, Cybersecurity, Data Collection, Data Privacy, Data Protection

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Amendments to Mexico’s Power Industry Law Remain Suspended Despite Court Decisions

As of July 15, 2021, both Federal Collegiate Courts in Administrative Matters Specialized in Economic Competition (Tribunal Colegiado en Materia Administrativa Especializado en Competencia Económica, Radiodifusión y…more

Arbitration, Electricity, Energy Sector, Foreign Investment, International Arbitration

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Delaware Court Signals Significant Change in Standard of Review of Executive Compensation Decisions for Controlled Companies

In a case of first impression, the Delaware Court of Chancery has held that the entire fairness standard of review applies to compensation decisions made with respect to controlled companies, absent implementation of specified…more

Corporate Counsel, Executive Compensation, First Impression, Standard of Review

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SCOTUS Punts on Remedy for Unconstitutional Chapter 11 Quarterly Fee Increase

Earlier this year, we highlighted the US Supreme Court’s grant of certiorari in Siegel v. Fitzgerald (In re Circuit City Stores, Inc.) to determine whether a 2017 statute that increased Chapter 11 quarterly fees was…more

Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Constitutional Challenges, Fees

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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Managing Welfare Plan Risk: The Fiduciary Committee

Fiduciary committees have long been established in connection with retirement plans to manage the investment, legal compliance, and operational risks that can arise under the Employee Retirement Income Security Act of 1974, as…more

Affordable Care Act, Benefit Plan Sponsors, COBRA, Employee Benefits, Employee Retirement Income Security Act (ERISA)

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Inflation Reduction Act Guidance Proposed on Direct Payment for Energy Credits

The Inflation Reduction Act of 2022 opened up many energy credit opportunities for tax-exempt organizations. The Internal Revenue Service (IRS) and US Treasury Department released on June 14, 2023 proposed regulations on the…more

Clean Energy, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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DOL Continues Active ERISA Enforcement and Focus on Cybersecurity Including Health and Welfare Plans

The Employee Benefits Security Administration (EBSA) of the US Department of Labor (DOL) has continued to be active in civil and criminal enforcement investigations of ERISA’s fiduciary duties. This blog post details two recent…more

Benefit Plan Sponsors, Cybersecurity, Department of Labor (DOL), EBSA, Employee Benefits

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Major California Corporate Tax Refund Opportunity for Multinational Corporations

Microsoft's recent California Office of Tax Appeals win results in the opportunity for significant California corporate tax refunds for taxpayers with dividends from foreign affiliates…more

Corporate Taxes, Income Taxes, Tax Appeals, Tax Refunds, Tax Returns

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ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial…more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

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EU AI Act: How Far Will EU Copyright Principles Extend?

The new EU AI Act contains provisions that reach beyond EU borders that could conflict with US copyright law, among others, when proprietary datasets are used for AI training. Therefore, US companies doing business in Europe…more

Artificial Intelligence, Copyright, Copyright Infringement, Corporate Counsel, EU

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Thanks For (Less Than) Nothing

Section 72001 of the FAST Act and the SEC’s interim final rule. In a December 2015 LawFlash, we addressed several provisions of the Fixing America’s Surface Transportation Act (“FAST Act”) that relate to the federal…more

Fixing America’s Surface Transportation Act (FAST Act), Form 10-K, Interim Rule, Securities and Exchange Commission (SEC)

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Employee Required to Arbitrate Individual PAGA Claim Maintains Standing to Pursue Representative PAGA Court Claims

In Adolph v. Uber Technologies Inc., the California Supreme Court held that it is not bound by the US Supreme Court’s interpretation of state law in Viking River Cruises v. Moriana, ruling that an order compelling arbitration of…more

Arbitration, Arbitration Agreements, Employment Litigation, Federal Arbitration Act, Preemption

See all updates »

Sports Sponsorship Agreements in the Digital Age

Technological advances and changes prompted by COVID-19 have driven an evolution in sports sponsorship agreements, from traditional advertising to a digital-heavy and more accessible sponsorship environment. But with those…more

Artists, Athletes, Celebrity Endorsements, College Athletes, Cryptocurrency

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In Split Decision, Federal Circuit Invalidates Diagnostic Method Patent

A split panel of the US Court of Appeals for the Federal Circuit held on February 6 that claims to an assay for diagnosing myasthenia gravis are not patent eligible because they are directed to a natural law. The majority…more

Life Sciences, Patent-Eligible Subject Matter, Patents

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NYC Postpones Enforcement of AI Bias Law Until April 2023 and Revises Proposed Rules

The New York City Department of Consumer and Worker Protection (DCWP) announced that it would postpone enforcement of New York City Local Law 14a4 (the AI Law) from January 1, 2023, to April 15. The DCWP also released further…more

Algorithms, Artificial Intelligence, Bias, City of New York, Machine Learning

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A First Step? Reclassification of High-Risk LDTs Assists FDA with Oversight of LDTs

The US Food and Drug Administration’s (FDA’s) Center for Devices and Radiological Health recently announced its intention to reclassify certain high-risk in vitro diagnostic devices (IVDs) as moderate risk, a potential first…more

Diagnostic Tests, Food and Drug Administration (FDA), Laboratory Developed Tests, Life Sciences, Medical Devices

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Evolving Regulatory Landscape for Connected Vehicles: Balancing Innovation with National Security

The US Department of Commerce’s Bureau of Industry and Security (BIS) took a potentially important step toward shaping the future of connected vehicles (CVs) by issuing an advance notice of proposed rulemaking (ANPRM) on…more

Automotive Industry, Connected Cars, Electric Vehicles, Manufacturers, National Security

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SEC Adopts New Private Fund Adviser Rules with Nuanced Application to Non-US Advisers

The US Securities and Exchange Commission (SEC) recently adopted sweeping new rules under the Investment Advisers Act of 1940 (Advisers Act) that apply in certain circumstances to non-US advisers to private investment funds…more

Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds, Securities and Exchange Commission (SEC)

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Current Developments in Sec and Finra Examinations & Enforcement 2022–2023 - A Special Report for Investment Advisers and Broker-Dealers

Registered entities continued to be a significant focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect similar attention this year. The SEC’s…more

Administrative Law Judge (ALJ), Broker-Dealer, CFTC, Cybersecurity, Disgorgement

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US Senators and Representatives Propose Bipartisan Workforce Housing Tax Credit Act

In response to a shortage of affordable middle-income housing in the United States, legislators recently introduced the Workforce Housing Tax Credit Act, which includes significant financial incentives for developers, to help…more

Affordable Housing, Low Income Housing, Low-Income Issues, Rental Property, Tax Credits

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UK Sovereign Immunity from Direct Taxation

Sovereign immunity is a principle of public international law whereby one sovereign state should not seek to apply its law to another sovereign state. Alongside the jurisdictional immunity foreign sovereigns enjoy in the United…more

Capital Gains Tax, Corporate Taxes, Foreign Sovereigns, Income Taxes, Sovereign Immunity

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US-China Auditing Oversight Agreement Signals Cooperation Between Nations but Could Lead to Increased Enforcement Risk

Due to a recent agreement between the Public Company Accounting Oversight Board and Chinese securities regulators, many US exchange–listed companies audited by accounting firms based in mainland China and Hong Kong may be able…more

Capital Markets, China, Corporate Governance, Department of Justice (DOJ), Foreign Corporations

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Corporate Transparency Act Update: Beneficial Ownership Reporting in Tax Equity Transactions

Regulations recently coming into effect under the Corporate Transparency Act (CTA) may impose new beneficial ownership reporting obligations on clean energy tax equity partnerships and joint ventures. The rules now require…more

Beneficial Owner, Corporate Transparency Act, FinCEN, Popular, Reporting Requirements

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Global Privacy: Year in Review and a Look Forward, 2023–2024

The world is witnessing a flurry of activity surrounding issues of data protection, cybersecurity, artificial intelligence (AI), and consumer privacy. According to the National Conference of State Legislators, some 40 US states…more

Corporate Counsel, Cyber Threats, Cybersecurity, Data Breach, Data Privacy

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A Trending Hedge Fund Hub: Key Aspects of ADGM Hedge Funds

The Abu Dhabi Global Market (ADGM) is fast becoming an international financial hub in the MENA region for global hedge fund managers that are drawn to the quality of the ADGM’s independent regulator, the Financial Services…more

Abu Dhabi Global Markets (ADGM), Financial Services Industry, Fund Managers, Hedge Funds, Investment Adviser

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New IRS Guidance Provides a Spot of Certainty Amid Digital Asset Limbo

Per recent transitional guidance, the IRS will not require taxpayers to report transactions involving receipt of digital assets under Section 6050I…more

Cryptocurrency, Digital Assets, IRS, Tax Liability, Tax Planning

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

UK Corporate Insolvency and Governance Act 2020: Protection for Cape Town-Registered Interests

The Corporate Insolvency and Governance (CIG) Act 2020, which was enacted on 25 June 2020, introduces a number of permanent changes to the insolvency and restructuring framework in the United Kingdom, some of which have specific…more

Aircraft Equipment, Airlines, Aviation Industry, Cape Town Convention, Corporate Governance

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SEC’s Proposed Rules Aim to Protect Investors—Will They Stop SPACs in Their Tracks?

The US Securities and Exchange Commission recently proposed new rules and amendments relating to initial public offerings by special purpose acquisition companies and to business combinations involving shell companies and…more

Disclosure Requirements, Initial Public Offering (IPO), Investment Company Act of 1940, Investor Protection, Proposed Rules

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

Companies Committing to Corporate Sustainability

The scope of commitments by corporations involving their own sustainability efforts around the globe has markedly accelerated this year. About 300 companies have signed on to the RE100 initiative, which brings together…more

Carbon Emissions, Climate Change, Energy Projects, Environmental Social & Governance (ESG), Greenhouse Gas Emissions

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C-Pace Financing: Exploring the Benefits and Risks

With real estate market conditions continuing to remain in flux, many developers and operators of real estate have been left searching for new partners and capital providers to finance acquisitions and development. One option…more

Mortgage Lenders, Mortgages, Property Tax, Real Estate Market

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Collateralised Fund Obligations and Rated Note Feeders: Options for Structuring Investment Into Private Funds

Private funds and structured finance professionals increasingly seek innovative ways to reconcile fund managers’ desire to access new sources of capital with insurance companies’ growing appetite for investments into private…more

Collateralized Fund Obligation (CFO), Investment, Investment Funds, Private Funds

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Enforcing US Jury Judgments in France: Avoiding the Pitfall of Motivation

Obtaining the exequatur of US judgments in France can be complex, as these rulings might not include a clear statement of reasons, which is one of the conditions required by the French judge for obtaining the exequatur. French…more

Final Judgment, France, Jury Trial, Jury Verdicts

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State and Local Survey of Laws Regulating Escooter Sharing Services

The growth and use of electric scooters (escooters) for personal transportation has exploded over the last several years. Much of this growth has been driven by escooter sharing companies, which, rather than pursuing a model of…more

Critical Infrastructure Sectors, E-Scooters, Educational Institutions, Green Transportation, Innovative Technology

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Captive Insurance Opportunities and Solutions Post-COVID-19

Companies with coronavirus (COVID-19)-related losses and legacy liabilities may appreciate significant additional tax benefits from funding those legacy liabilities through a captive insurer before the end of this year…more

Business Interruption, Business Losses, Captive Insurance Company, Coronavirus/COVID-19, Insurance Claims

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Federal Government Expands Access to Capital for Startups

The federal government is planning to invest considerable funds into promoting startups investing in artificial intelligence, climate, quantum, or biotechnology, for example, and into increasing exit opportunities for German and…more

Investment, Investors, Startups, Venture Capital

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Tokenized Funds, The Next Investment Trend? Regulatory Developments in the UK, EU, and UAE

There has been a growing trend among traditional funds and asset managers to launch programs to tokenize alternative assets. The main benefits of tokenizing funds include increased liquidity and accessibility, heightened…more

Asset Management, Blockchain, Cryptocurrency, Distributed Ledger Technology (DLT), Financial Markets

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

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Blockbuster Biologics Review - Issue 22

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to…more

Biologics, Biosimilars, Intellectual Property Protection, Life Sciences, Patent Infringement

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The Focus on Healthcare PE Investment Is Here to Stay—For Now

While private equity (PE) investments in healthcare have long been subject to scrutiny, as PE investment in healthcare has grown sizably over the last decade, so too has the concern from federal and state regulatory bodies…more

Centers for Medicare & Medicaid Services (CMS), Investment, Investors, Private Equity, Private Equity Firms

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New Texas Laws Expand Sexual Harassment Liability for Employers and Individuals

Texas has expanded sexual harassment protections for employees in the workplace beyond those offered under federal law. As of September 1, 2021, individuals and all employers (including those with only one employee) may now face…more

Anti-Harassment Policies, Corrective Actions, Employer Liability Issues, Employment Policies, Hostile Environment

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EPA May Ignore Mitigation System and Use of Industrial Facility in National Priorities Listing

Deferring to the US Environmental Protection Agency, the US Court of Appeals for the DC Circuit rejected a challenge to the first-ever listing of a site on the Superfund National Priorities List under recent regulatory revisions…more

Contaminated Properties, Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances, National Priorities List (NPL)

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JOL vs. JOLCO in the Aviation Sector: What Are They and How Do They Differ?

2022 saw a gradual return of Japanese operating leases (JOLs) and Japanese operating leases with call options (JOLCOs) in the aviation sector. These products are essentially used to deploy Japanese equity, bringing back more…more

Aircraft Finance Insurance Consortium (AFIC), Aircraft Financing, Aviation Industry, Equity Investors, Global Market

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

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A Look at the SPAC Market in 2022

A Special Purpose Acquisition Company (SPAC) is a blank-check company formed for the purpose of effecting a business combination with one or more businesses. While SPACs are not new, they have recently increased in prevalence…more

Acquisitions, Capital Markets, Initial Public Offering (IPO), Listing Rules, Mergers

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US Corporate Transparency Act: Impact on Private Funds and Venture Capital Funds

The final rule of the Financial Crimes Enforcement Network (FinCEN) implementing the Corporate Transparency Act’s (CTA’s) beneficial ownership requirements will become effective on January 1, 2024. The final rule may apply to…more

Corporate Transparency Act, FinCEN, Investment Company Act of 1940, Private Funds, Securities and Exchange Commission (SEC)

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OCC’s Updated Guidance on Retail Nondeposit Investment Products

The Office of the Comptroller of the Currency (OCC) recently released an updated and substantially revised section of its Comptroller’s Handbook titled “Retail Nondeposit Investment Products” (the Booklet). The Booklet replaces…more

Banking Sector, Banks, Guidance Update, Industry Examinations, OCC

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IRS and Treasury Release Credit Transfer Guidance Aiming to Jump Start Market for Ira's Clean Tech Industry Tax Credit Sales

On June 14, 2023, the Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) released temporary regulations (Temporary Regulations) and proposed regulations (Proposed Regulations; collectively with the…more

Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits, IRS

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Defendant Class Actions Are Dead in Maryland State Courts

The Maryland Court of Appeals voted on Wednesday to adopt a new rule abolishing all defendant class actions in Maryland state courts. The new Rule 2-231, which is effective prospectively, explicitly limits the availability of…more

Business Litigation, Class Action, Commercial Court

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Illinois Supreme Court Holds Healthcare Employee Fingerprint Data Exempt from BIPA

In the first win for defendants facing Illinois Biometric Information Privacy Act (BIPA) litigation before the Illinois Supreme Court, the Court in Mosby v. Ingalls Memorial Hospital held that BIPA excludes from its protections…more

Biometric Information, Biometric Information Privacy Act, Data Collection, Data Privacy, Fingerprints

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False Claims Act Enforcement Continues to Target Education Industry

A recent settlement agreement presents another example of how educational institutions can find themselves facing potential liability under the False Claims Act (FCA). The settlement illustrates how FCA liability remains a risk…more

False Claims Act (FCA), Health Care Providers, Medicaid, Medicare

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

Early Results of USPTO’s New Climate Change Mitigation Pilot Program

The United States Patent and Trademark Office launched the Climate Change Mitigation Pilot Program last year to incentivize the filing of patent applications that cover technologies directed to climate change mitigation. With…more

Intellectual Property Protection, Patent Litigation, Patent Trial and Appeal Board, Patents, USPTO

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IRS Provides Guidance on Hodgepodge of Secure 2.0 Provisions

The US Internal Revenue Service (IRS) released a notice providing guidance on various provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0). Some of the topics touched on in the guidance include automatic enrollment, the…more

401k, 403(b) Plans, Employee Benefits, Individual Retirement Account (IRA), IRS

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Evolving Regulatory Landscape for Connected Vehicles: Balancing Innovation with National Security

The US Department of Commerce’s Bureau of Industry and Security (BIS) took a potentially important step toward shaping the future of connected vehicles (CVs) by issuing an advance notice of proposed rulemaking (ANPRM) on…more

Automotive Industry, Connected Cars, Electric Vehicles, Manufacturers, National Security

See all updates »

US Supreme Court Finds Individual PAGA Claims Can Be Compelled to Arbitration

The US Supreme Court has issued its highly anticipated opinion in Viking River Cruises Inc. v. Moriana, on whether the Federal Arbitration Act (FAA) preempts California law that invalidates contractual waivers in arbitration…more

Arbitration, Arbitration Agreements, Corporate Counsel, Federal Arbitration Act, Preemption

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Hague Apostille Certification to Replace Legalization Process in China

Beginning November 7, 2023, the Apostille Convention of the Hague Conference on Private International Law will come into effect in mainland China. Upon effectiveness, the country will replace the current legalization process for…more

Apostille, China, Cross-Border Transactions, Hague Convention, International Litigation

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SEC Releases Draft Strategic Plan for Fiscal Years 2022 to 2026

The US Securities and Exchange Commission recently released its draft Strategic Plan for fiscal years 2022 to 2026 for public comment. The Strategic Plan sets forth the following three key goals for the Securities and Exchange…more

Capital Markets, Comment Period, Cybersecurity, Financial Reporting, Internal Controls

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New Jersey Cannabis Regulatory Commission Issues Interim Guidance on Workplace Impairment

The New Jersey Cannabis Regulatory Commission recently issued interim guidance on the workplace drug testing provisions of the state’s recreational cannabis law meant to act as a placeholder until regulations on the standards…more

Decriminalization of Marijuana, Drug Testing, Employer Liability Issues, Employment Policies, Human Resources Professionals

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SECURE Act 2.0: Impact on ESOPs

The SECURE 2.0 Act of 2022 (SECURE Act 2.0) makes far-reaching changes to the US retirement plan system. Our initial SECURE Act 2.0 LawFlash provided a general overview of its significant provisions. This blog post—one in our…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP, Labor Regulations

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New York AG Launches Easy-to-Use Online Filing Portal for State Charities

New York Attorney General Letitia James has announced the launch of an easy-to-use online filing portal for charities to file required state annual financial disclosures. The new system will use e-signatures and electronic…more

Annual Filings, Charitable Organizations, E-Filing, E-Signatures, Filing Deadlines

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Takeover Monitor: Current German Public Tender Offers | Issue 5

The Morgan Lewis Takeover Monitor documents public tender ofers in Germany for Morgan Lewis clients and interested persons. This issue covers published and announced current offers as of November 23, 2022. PUBLIC TENDER OFFERS…more

Acquisitions, BaFin, Delisting, Germany, Securities Regulation

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Breaking Down the USPTO’s Not-So-Obvious Obviousness Guidelines

The US Patent and Trademark Office (USPTO) recently updated its guidance for patent examiners and applicants in determining obviousness under 35 USC § 103, based on the US Supreme Court’s ruling in KSR Int’l Co. v. Teleflex…more

America Invents Act, Corporate Counsel, Intellectual Property Protection, Obviousness, Patent Applications

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California ‘Pink Tax’ Law Prohibits Gender-Based Pricing of Consumer Products

Dear Retail Clients and Friends: Starting January 1, 2023, a new law in California will prohibit higher prices for products marketed to a particular gender. The law specifically takes aim at higher prices on products marketed…more

Gender Discrimination, Gender Neutral, New Legislation, Price Discrimination, Retailers

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Multiple States, Including the New York Tristate Area, Announce Significant Rollback of COVID-19 Capacity Limit Restrictions

New York Gov. Andrew Cuomo, New Jersey Gov. Phil Murphy, and Connecticut Gov. Ned Lamont jointly announced on May 3 a significant easing of the remaining capacity restrictions on business operations related to the COVID-19…more

Coronavirus/COVID-19, Critical Infrastructure Sectors, Employer Liability Issues, Employer Responsibilities, Health and Safety

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Reminder: California Noncompete Deadline Is February 14

Besides being Valentine’s Day, February 14, 2024 is an important day for employers with any California employees: It is the last day for employers to notify California employees (including former employees who were employed…more

California, Employer Liability Issues, Employment Contract, Non-Compete Agreements, Restrictive Covenants

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CFPB Finalizes Delay of Mandatory Compliance Date for General Qualified Mortgage Final Rule

On April 27, 2021, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a final rule formally delaying the mandatory compliance date for the rule defining a “qualified mortgage” (QM) (the General QM Final Rule) from…more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Cooperative Compliance Regime, Financial Regulatory Reform

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The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private…more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

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Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

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Enforcing US Jury Judgments in France: Avoiding the Pitfall of Motivation

Obtaining the exequatur of US judgments in France can be complex, as these rulings might not include a clear statement of reasons, which is one of the conditions required by the French judge for obtaining the exequatur. French…more

Final Judgment, France, Jury Trial, Jury Verdicts

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Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair…more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

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CBP Issues Supply Chain Questionnaire to Solar Companies

US Customs and Border Protection (CBP) has begun issuing questionnaires to solar companies requesting extensive disclosures about the source of modules, panels, and other products. This marks an expansion of the scrutiny on the…more

Customs and Border Protection, Forced Labor, Importers, Imports, Supply Chain

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Debtors Need Not Apply? Continuing Developments on the SBA’s Authority to Deny PPP Loans to Debtor Applicants

The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the…more

Bankruptcy Code, CARES Act, Commercial Bankruptcy, Coronavirus/COVID-19, Debtors

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Face Coverings and Gloves On: New Jersey Orders New Worksite Social Distancing and Infection Control Measures

As New Jersey continues to battle the spread of coronavirus (COVID-19), Governor Phil Murphy ordered essential businesses in the state to adopt several measures including mandatory face coverings at worksites, occupancy limits…more

Best Practices, Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Crisis Management, Emergency Management Plans

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DOJ COVID-19 Fraud Enforcement Task Force Releases Report on Combating Fraud

The US Department of Justice’s (DOJ’s) COVID-19 Fraud Enforcement Task Force (CFETF) released a report on April 9 summarizing its efforts to identify, investigate, and prosecute fraud related to COVID-19 relief programs. DOJ’s…more

Coronavirus/COVID-19, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions, Fraud

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Morgan Lewis Automotive & Mobility – Q1 2021

Welcome to the 27th edition of our newsletter on developments in the automotive industry published by Morgan Lewis’s automotive and mobility team with contributions from lawyers in our offices around the globe. We counsel our…more

Antitrust Provisions, Automotive Industry, Connected Cars, Corporate Sales Transactions, Driverless Cars

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NLRB Returns to Pre-2019 Independent Contractor Standard Making It Easier for Workers To Be Considered Employees

In The Atlanta Opera Inc., the National Labor Relations Board once again changed the standard for determining independent contractor status under the National Labor Relations Act, returning  to its pre-2019 standard making it…more

Employee Definition, Employer Liability Issues, Independent Contractors, Misclassification, NLRB

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Morgan Lewis Spark Q2 - 2021 - Russian

Morgan Lewis Spark – это ежеквартальный обзор, освещающий нововведения и изменения российского законодательства, имеющие важное значение для компаний, работающих в российских секторах энергетики и добычи полезных ископаемых. Мы…more

Climate Change, Electricity, Energy Projects, Energy Sector, Greenhouse Gas Emissions

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Online Tracking Technologies: Updated HIPPA Guidance Creates Uncertainty

On March 18, the US Department of Health and Human Services’ (HHS’s) Office for Civil Rights (OCR) updated its guidance regarding the use of online tracking technologies. The American Hospital Association and others filed a…more

Business Associates, Covered Entities, Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

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How Financial Services Companies Can Prepare for and Comply with New Federal Cybersecurity Requirements

US regulators have increased their focus on cybersecurity issues impacting financial services companies, with a host of guidance documents recently released by the US Securities and Exchange Commission (SEC), the three federal…more

Banking Sector, Cyber Attacks, Cybersecurity, FDIC, Final Rules

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Hong Kong Stock Exchange Welcomes Specialist Tech Companies Under New Chapter 18C

The Hong Kong Stock Exchange (HKEx) announced on March 24, 2023 that eligible specialist technology companies (STCs) at the pre-commercial or early commercial stage can apply for listing on the HKEx under the new Chapter 18C of…more

Capital Markets, Corporate Governance, HKEx, Hong Kong, Hong Kong Stock Exchange

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Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

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UK FCA Requests Consultation on Proposed Listing Rule Reforms

The UK Financial Conduct Authority (FCA) recently launched a consultation on proposed reforms to its Listing Rules, designed to enhance the attractiveness of UK markets for companies seeking to go public. The proposed changes…more

Capital Markets, Corporate Governance, Financial Conduct Authority (FCA), Listing Rules, Publicly-Traded Companies

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US Supreme Court to Hear International Case Involving Alleged Price Fixing

Potentially impacting the reach of US antitrust enforcement, the Court will determine standards to apply in considering a foreign government's legal statement concerning the interpretation of its domestic law in price fixing and…more

China, Corporate Counsel, MOFCOM, Price-Fixing, SCOTUS

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Enforcement of Interim Measures Ordered in Singapore-Seated Arbitration Unaffected by Forum Non Conveniens Doctrine

In a recent case before the Singapore High Court, the judge clarified that parties intending to enforce interim measures granted in Singapore seated arbitrations under Section 12(6) of the International Arbitration Act 1994 do…more

Arbitration, Forum Non Conveniens, International Arbitration, Singapore

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EMEA Private Equity: A Look Ahead at 2024

The private equity industry has faced a number of challenges over the last year: we have seen interest rate rises in response to greater inflationary pressure including increasing labor, transport, and energy costs, the…more

Acquisitions, Investment, Investors, Private Equity, Private Equity Firms

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

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Federal Circuit Clarifies IPR Estoppel Burden

A recent Federal Circuit opinion clarified that patent owners carry the burden of proving that inter partes review (IPR) estoppel applies to invalidity grounds not included in their IPR petitions. The Federal Circuit also…more

§315(e), Burden of Proof, Estoppel, Inter Partes Review (IPR) Proceeding, Patent Litigation

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Japan Introduces Real Estate Legislation for National Security Purposes

The National Diet of Japan recently passed the Real Estate Investigation and Regulation Act, which is in line with tightening global trends in real estate regulations in order to prevent threats to national security. The Real…more

CFIUS, Foreign Investment, Japan, National Security, Real Estate Investments

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COVID-19: LA City Council Approves Ordinances on Sick Leave and Retail and Delivery Workers

The Los Angeles City Council held an emergency meeting on March 27 in response to the coronavirus (COVID-19) crisis and approved several ordinances, including one pertaining to sick leave and another relating to retail and…more

Business Closures, Coronavirus/COVID-19, Critical Infrastructure Sectors, Grocery Stores, On-Demand Services

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The Landmark Defend Trade Secrets Act of 2016

The Defend Trade Secrets Act of 2016 (DTSA) amends the Economic Espionage Act of 1996, which provides for federal criminal penalties for foreign economic espionage and trade secret theft and adds new federal civil trade secret…more

Asset Seizure, Defend Trade Secrets Act (DTSA), Economic Espionage Act, Ex Parte, Misappropriation

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US Awaits Substantial Changes to Title IX Regulations – Will They Apply to You?

Despite popular belief that Title IX applies only to higher education institutions, the regulations interpreting Title IX—and court decisions analyzing and applying those regulations—apply the statute much more broadly. This…more

Colleges, Department of Education, Educational Institutions, Federal Funding, OCR

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Update to Economic Substance Regulations in the UAE

The United Arab Emirates (UAE) Cabinet of Ministers has recently issued updated Economic Substance Regulations which repeal and replace those previously announced. These are: the Ministry of Finance Resolution No. 57 of 2020,…more

Economic Substance Doctrine, Licensing Rules, Regulatory Requirements, United Arab Emirates (UAE)

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How COVID-19 Made Esports the ‘Only Game in Town’

By the second week of March, the National Basketball Association, National Hockey League, Major League Soccer, and Major League Baseball had suspended games due to the coronavirus (COVID-19) pandemic. The good news for those…more

Business Closures, Business Disruption, Coronavirus/COVID-19, eSports, Event Cancellation

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How to Progress Compliance Plans from Paper to Practice

On paper, many compliance programs may seem comprehensive; however, are they effectively being moved from paper to practice? Talking the talk and walking the walk are two very different things, especially to corporate…more

Artificial Intelligence, Best Practices, Chief Compliance Officers, Compliance, Department of Justice (DOJ)

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

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Mitigating Energy Sector Risks Through Cyberinsurance

Energy companies in the power and oil and gas sectors are leading targets of cyberattacks, as threats to critical infrastructure systems continue to rise. A 2021 report by a third-party cyberrisk company found that a quarter of…more

Business Interruption, Commercial General Liability Policies, Critical Infrastructure Sectors, Cyber Attacks, Cyber Insurance

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Global Privacy: Year in Review and a Look Forward, 2023–2024

The world is witnessing a flurry of activity surrounding issues of data protection, cybersecurity, artificial intelligence (AI), and consumer privacy. According to the National Conference of State Legislators, some 40 US states…more

Corporate Counsel, Cyber Threats, Cybersecurity, Data Breach, Data Privacy

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Implications of COVID-19 for Institutional Investors

The spread of the coronavirus (COVID-19) continues to impact global financial markets and private funds. Institutional investors, funds-of-funds, family offices, and other investors in private funds should consider the economic…more

China, Coronavirus/COVID-19, Crisis Management, Emergency Management Plans, Infectious Diseases

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China’s Highest Court Highlights Guidance on Termination Certificate Guidelines Set by Appellate Court

The Supreme People’s Court of the People’s Republic of China (PRC) recently confirmed guidance on the contents of termination certificates, which employers in the PRC are required to issue to evidence the end of an employment…more

China, Employer Liability Issues, Employment Contract, Hiring & Firing, Termination

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Federal Circuit: 2D Depiction of 3D Article Can Satisfy Written Description in a Design Patent

The recent ruling in In re Maatita means that a two-dimensional drawing of a three-dimensional object may meet the enablement and definiteness requirements for a design patent…more

Corporate Counsel, Design Patent, Indefiniteness, Patent Applications, Patent Trial and Appeal Board

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EPA Releases Final Risk Evaluation for 1,4-Dioxane

The US Environmental Protection Agency’s controversial final risk evaluation for 1,4-dioxane found unreasonable risks to workers and occupational non-users for 13 out of 24 use conditions, but no unreasonable risks to the…more

Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances, Public Health, Risk Assessment

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Tax Reform Legislation Addresses UBIT and Segregation of UBTI Investments

Adopting the Senate’s approach, tax reform legislation will not require governmental pension plans to be subject to unrelated business income tax, and tax-exempt entities subject to tax on unrelated business taxable income will…more

Business Taxes, Tax Exempt Entities, Tax Reform, UBIT

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Department of Energy Predicts Substantial Impact From Fracking Ban

The US Department of Energy submitted a report to the president last month on “Economic and National Security Impacts under a Hydraulic Fracturing Ban.” This 80-page report analyzed the effects of a hypothetical United States…more

Biden Administration, Department of Energy (DOE), Energy Policy, Energy Reform, Environmental Liability

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Managing Welfare Plan Risk: The Fiduciary Committee

Fiduciary committees have long been established in connection with retirement plans to manage the investment, legal compliance, and operational risks that can arise under the Employee Retirement Income Security Act of 1974, as…more

Affordable Care Act, Benefit Plan Sponsors, COBRA, Employee Benefits, Employee Retirement Income Security Act (ERISA)

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SEC Amends Rules for Reporting Beneficial Ownership on Schedules 13D and 13G

The US Securities and Exchange Commission (SEC) adopted amendments on October 10, 2023 to the rules governing beneficial ownership reporting on Schedules 13D and 13G and provided guidance on the rules’ application. The revisions…more

Beneficial Owner, Proposed Amendments, Reporting Requirements, Schedule 13D, Securities and Exchange Commission (SEC)

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Federal Trade Commission Proposes Banning Noncompete Clauses for Workers

The Federal Trade Commission (FTC) announced a notice of proposed rulemaking (NPRM) on January 5, 2023, that would ban employers from entering into and maintaining noncompete clauses with their workers. With this potential…more

Confidentiality Agreements, Federal Trade Commission (FTC), FTC Act, Non-Compete Agreements, NPRM

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SGX RegCo Proposes Independent Director Tenure Limits, Director and CEO Pay Disclosure

The Singapore Exchange Regulation (SGX RegCo) published a public consultation paper proposing to amend the Listing Rules to impose a hard nine-year limit on the tenure of independent directors, removing the current two-tier…more

Board of Directors, CEOs, Corporate Governance, Independent Director, Listing Rules

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Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true…more

Investment, Investors, Japan, Limited Partnerships, Partnerships

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Update: New Decree Allows Certain Russian Companies to Remove Voting Rights of Minority Shareholders and Directors from Unfriendly States

Russian President Vladimir Putin adopted Decree No. 16 on January 17, allowing Russian companies to change their corporate decision-making so that minority shareholders from the so-called “unfriendly states” (or those controlled…more

Board of Directors, Corporate Governance, Minority Shareholders, Russia, Shareholders

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Global Cartel Enforcement Report 2023

In 2023, cartel fines in key jurisdictions increased by 7.7%—totaling $1.4 billion—compared to 2022. While the totals remain significantly below the peaks seen in the mid-2010s, 2023 saw record fines imposed in several…more

Acquisitions, Antitrust Provisions, Cartels, Competition, Competition Authorities

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Current Developments in Sec and Finra Examinations & Enforcement 2022–2023 - A Special Report for Investment Advisers and Broker-Dealers

Registered entities continued to be a significant focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect similar attention this year. The SEC’s…more

Administrative Law Judge (ALJ), Broker-Dealer, CFTC, Cybersecurity, Disgorgement

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Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true…more

Investment, Investors, Japan, Limited Partnerships, Partnerships

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Department of Labor Finalizes QPAM Exemption Amendment

The US Department of Labor (DOL) final amendment to Prohibited Transaction Class Exemption 84-14, the so-called QPAM Exemption that is commonly relied upon by investment managers for ERISA-governed employee benefit plans and…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions, QPAM

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US Supreme Court to Decide Fate of FCA’s Implied Certification Theory

Supreme Court grants certiorari in qui tam case to consider viability and scope of the “implied certification” theory of liability under the False Claims Act. On December 4, the US Supreme Court granted certiorari in…more

Certiorari, False Claims Act (FCA), Federal Contractors, Implied Certification, Qui Tam

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The COVID-19 Test for Compensation Committees

Compensation Committees are addressing whether compensation should be adjusted to reflect the effect of the coronavirus (COVID-19) pandemic on companies’ businesses and how to correlate executive compensation with changing…more

Compensation Committee, Coronavirus/COVID-19, Executive Compensation, Publicly-Traded Companies

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SEC Charges Investment Advisers with Making False and Misleading Statements About Their Use of AI

On March 18, the US Securities and Exchange Commission (SEC) announced the first AI-related settled actions against two investment advisers—Delphia (USA) Inc. and Global Predictions Inc.—for making false and misleading…more

Enforcement Actions, False Statements, Investment Adviser, Misleading Statements, Securities and Exchange Commission (SEC)

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The National Cybersecurity Strategy: A Guide for Critical Infrastructure Owners and Operators

Protecting critical infrastructure has become a national security priority. On March 2, 2023, the Biden administration released the National Cybersecurity Strategy, a far-reaching document that sets forth its vision for the…more

Critical Infrastructure Sectors, Cyber Attacks, Cyber Threats, Cybersecurity

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EPA Finalizes New Enforceable National Drinking Water Regulation

On April 10, 2024, the US Environmental Protection Agency (EPA) finalized its highly anticipated new rule aimed at reducing the level of certain per- and polyfluoroalkyl substances (PFAS) in drinking water. The final rule is not…more

Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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New UK Corporate Offence: The ‘Failure to Prevent Fraud’

The recent passage of the Economic Crime and Corporate Transparency Act 2023 marked a significant moment in the UK government’s commitment to improving its economic crime legislative framework with the aim to deter and further…more

Corporate Crimes, Corporate Entities, Corporate Transparency Act, Financial Crimes, Fraud

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New Modifications to the Proposition 65 Regulations

The modifications significantly change both the AG’s Regulations and OEHHA’s Clear and Reasonable Warnings provisions. California’s Office of Administrative Law recently approved important changes to two sets of Proposition 65…more

Amended Regulation, Manufacturers, OEHHA, Proposition 65, Retailers

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Revisiting Post-Closing Management Incentives in Challenging Climates

When private equity investment transactions close, management and private equity investors are off to the races—generally aligned on strategic and financial objectives. However, as market conditions and the economic climate…more

Investment, Investors, Private Equity, Private Equity Firms, Private Equity Funds

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Federal Parliament Approves Compromise of the Mediation Committee

As part of the legislative process, the Federal Council (Bundesrat) convened the Mediation Committee at the end of November 2023. For this reason, some regulations that were initially provided for in the Growth Opportunities…more

Corporate Taxes, Germany, International Tax Issues, Mediation

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SEC and CFTC Adopt Amendments to Form PF

On February 8, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC and, together with the SEC, the Commissions) voted to adopt amendments to Form PF1 that will impact the required…more

CFTC, Form PF, Investment Adviser, Investors, Private Equity

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OIG Releases New ‘One-Stop Shop’ General Compliance Program Guidance

The US Department of Health and Human Services Office of Inspector General (OIG) released on November 6 its General Compliance Program Guidance (GCPG), a helpful new resource for the healthcare industry that consolidates…more

Anti-Kickback Statute, Department of Health and Human Services (HHS), Health Care Providers, OIG, Physicians

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DOJ Emphasizes Importance of Antitrust Compliance Programs for HR Professionals

The US Department of Justice’s Antitrust Division recently stated that antitrust compliance programs must include training for human resources professionals on issues such as wage-fixing and no-poach agreements in order to be…more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Competition, Department of Justice (DOJ)

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State and Local Survey of Laws Regulating Escooter Sharing Services

The growth and use of electric scooters (escooters) for personal transportation has exploded over the last several years. Much of this growth has been driven by escooter sharing companies, which, rather than pursuing a model of…more

Critical Infrastructure Sectors, E-Scooters, Educational Institutions, Green Transportation, Innovative Technology

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SEC Adopts New Private Fund Adviser Rules with Nuanced Application to Non-US Advisers

The US Securities and Exchange Commission (SEC) recently adopted sweeping new rules under the Investment Advisers Act of 1940 (Advisers Act) that apply in certain circumstances to non-US advisers to private investment funds…more

Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds, Securities and Exchange Commission (SEC)

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California Announces 2024 Substantial Increase in Computer Professional Exemption Compensation Rate

California employers must ensure that compensation rates for exempt computer professionals meet updated salary thresholds, as of January 1, 2024. The minimum wage thresholds for the California computer professional…more

Consumer Price Index, Department of Industrial Relations, Department of Labor (DOL), Employer Liability Issues, Fair Labor Standards Act (FLSA)

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CFPB Finalizes Qualified Mortgage Changes

The Consumer Financial Protection Bureau (Bureau or CFPB) issued two final rules on December 10 with significant implications for the mortgage marketplace. Of the two final rules from the Bureau, one drastically simplifies the…more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Regulatory Reform, Financial Services Industry

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Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair…more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

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New Jersey Declares Hair Discrimination Unlawful

New Jersey Governor Phil Murphy recently signed legislation under the New Jersey Law Against Discrimination expanding the definition of “race” to cover “traits historically associated with race,” including hair texture, hair…more

Dress Codes, Employer Liability Issues, Employment Discrimination, Employment Policies, Hairstyle Discrimination

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NLRB Issues New Joint Employer Rule Affirming Expansive Joint Employer Status

The NLRB recently published its final rule on the standard for determining joint employer status, broadening the circumstances under which separate businesses can be considered joint employers—thereby making them obligated to…more

Employer Liability Issues, Franchisee, Franchisors, Joint Employers, NLRB

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English High Court Takes ‘More Nuanced Approach’ to Difference Between Fixed and Floating Charges

The English High Court provided guidance on 25 April 2023 in Re Avanti Communications Limited to determine whether a charge is a fixed charge or a floating charge. The distinction between a fixed charge and a floating charge is…more

Financial Institutions, Financial Services Industry, Insolvency, UK

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UK Economic Crime and Corporate Transparency Act: Initial Changes to Roll Out in March 2024

Following government guidance that updates to UK Companies Registries brought about by the Economic Crime and Corporate Transparency Act 2023 (ECCTA) would start to come into force over the course of 2024, the Companies House…more

Corporate Entities, Corporate Governance, Corporate Transparency Act, Financial Crimes, UK

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

See all updates »

FAQs on Federal Trade Commission’s Proposed Rule Banning Worker Noncompete Clauses

The Federal Trade Commission’s (FTC’s) January 5, 2023, notice of proposed rulemaking would ban businesses from entering into and maintaining noncompete clauses with workers. In this LawFlash, we answer several frequently asked…more

Corporate Counsel, Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), FTC Act

See all updates »

EPA Finalizes New Enforceable National Drinking Water Regulation

On April 10, 2024, the US Environmental Protection Agency (EPA) finalized its highly anticipated new rule aimed at reducing the level of certain per- and polyfluoroalkyl substances (PFAS) in drinking water. The final rule is not…more

Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

See all updates »

Student Loan Repayments to Resume: Secure 2.0 Student Loan Matching Contributions to the Rescue?

With the expiration of COVID-19 pandemic relief suspending loan payments and interest accruals on federal student loans (interest accruals resumed September 1 and loan payments are set to resume in October), now is a good time…more

Employee Benefits, Employer Contributions, SECURE Act, Student Loans

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Preparing for UAE Cop 28: Gulf Countries’ Net-zero and Climate Action Roadmaps

At the end of 2023, the United Arab Emirates (UAE) will host the Conference of the Parties (COP), the decision-making body responsible for monitoring and reviewing the implementation of the United Nations Framework Convention on…more

Climate Change, Greenhouse Gas Emissions, Renewable Energy, Saudi Arabia, UNFCCC

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California Appellate Court Holds Web Access Claims Against Web-Only Businesses Fail Under ADA and Unruh Act

The California Court of Appeal, Second Appellate District, issued a decision on August 1 holding that websites without any connection to physical place of business are not “places of public accommodation” under Title III of the…more

Americans with Disabilities Act (ADA), Diversity Jurisdiction, Forum Shopping, Principal Place of Business, Public Accommodation

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Supreme Court Denies Certiorari Petition in Madden Case

Although it is reasonably unlikely that other circuit courts will follow the Second Circuit decision, it is uncertain whether application of the Madden case in the Second Circuit will be confined to its facts…more

Appeals, Banking Sector, Choice-of-Law, Credit Cards, Debt Buyers

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SEC Adopts Further Money Market Fund Reforms

The US Securities and Exchange Commission (Commission) adopted amendments to the rule governing money market funds on July 12, 2023 in an attempt to address concerns about institutional prime and institutional tax-exempt (i.e.,…more

Amended Rules, Final Rules, Money Market Funds, Reporting Requirements, Securities and Exchange Commission (SEC)

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The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

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Update: Business Insurance Considerations Amid Conflict in Ukraine

The conflict in Ukraine and actions taken by and against Russia continue to wreak havoc on global business operations, causing supply chain disruptions, interruptions in operations, and the loss of assets located abroad. With…more

Aircraft, Business Interruption, Commercial Insurance Policies, Insurance Industry, Political Risk Insurance

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DC Mayor Signs Amendments to DC Code on Pay Transparency and Wage History

Washington, DC, Mayor Muriel Bowser signed legislation on January 12 requiring that all covered employers must disclose pay ranges in all job postings and advertisements and also disclose the existence of any additional benefits…more

Employer Liability Issues, Pay Transparency, Salary/Wage History, Wage and Hour

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Observance of Rights of Persons with Disabilities by Legal Entities in Accordance with the Laws of the Republic of Kazakhstan

The work on creating equal opportunities for persons with disabilities is underway at the legislative level in Kazakhstan, including the development of the draft law On Amending Certain Legislative Acts of the Republic of…more

Disability, Employer Liability Issues, Labor Code, Wage and Hour

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Beware of Debtor Tax Traps in Restructuring and Bankruptcy

The economic outcome from the coronavirus (COVID-19) pandemic is still uncertain but is likely to remain catastrophic in many respects. Of late popular name brands and companies have filed for bankruptcy as stay-at-home orders…more

Business Losses, Commercial Bankruptcy, Coronavirus/COVID-19, Financial Distress, Net Operating Losses

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AI Regulation in India: Current State and Future Perspectives

Artificial intelligence (AI) presents big opportunities and potential risks for countries around the globe, and India is no exception. India has a vast, burgeoning high-tech labor force. The country also attracts millions of…more

Artificial Intelligence, Innovative Technology, OECD, Technology Sector

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Observance of Rights of Persons with Disabilities by Legal Entities in Accordance with the Laws of the Republic of Kazakhstan

The work on creating equal opportunities for persons with disabilities is underway at the legislative level in Kazakhstan, including the development of the draft law On Amending Certain Legislative Acts of the Republic of…more

Disability, Employer Liability Issues, Labor Code, Wage and Hour

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That’s a Wrap: FDA Announces Phase-Out of PFAS in Certain Food-Packaging Materials

The US Food and Drug Administration (FDA) recently announced that manufacturers have completed the voluntarily phase-out of the use of certain per- and polyfluoroalkyl substances (PFAS) in grease-proofing agents for food…more

Food and Drug Administration (FDA), Food Manufacturers, Food Safety, Hazardous Substances, PFAS

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Impact on ERISA Regulation if Supreme Court Throws Chevron Deference Overboard

The US Supreme Court heard arguments on January 17 in Relentless v. Department of Commerce and Loper Bright Enterprises v. Raimondo. In both cases, a commercial herring fishing company challenged a regulatory requirement that…more

Chevron Deference, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Liability Issues

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2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,…more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

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2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,…more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

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The Rise of Energy Storage

Energy storage: the technology that will cash the checks written by the renewable energy industry. Energy storage can transform intermittent clean energy—primarily derived from wind and solar—into a reliable source of 24/7…more

Batteries, Clean Energy, Electricity, Energy Projects, Energy Sector

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The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

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New US Merger Guidelines Signal Continued Aggressive Merger Enforcement at DOJ, FTC

The US Department of Justice (DOJ) and Federal Trade Commission (FTC) released new Merger Guidelines on December 18, 2023—dramatically expanding the number and type of transactions that the agencies will consider presumptively…more

Antitrust Provisions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act, Merger Controls

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Names Rule Amendments Will Require Changes For Certain Funds

On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping…more

Amended Rules, Investment Companies, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

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DC Circuit: Pro Tanto Rule in False Claims Act Cases Reduces Risk of Windfall Damages Recoveries

The US Court of Appeals for the DC Circuit issued an important opinion on August 30, 2022, that reinforces the seemingly obvious principle that the government is not entitled to windfall damages recoveries in False Claims Act…more

Disproportionate Share Adjustments, False Claims Act (FCA), Federal Contractors, Honeywell International, Joint and Several Liability

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Oil Companies Must Pay Nearly $50M to United States for WWII Environmental Pollution Cleanup

The US District Court for the Central District of California issued an opinion on December 10 in the decades-long fight between the US Environmental Protection Agency and several oil companies over payment of the United States’…more

Aviation Industry, CERCLA, Clean-Up Costs, Contaminated Properties, Environmental Protection Agency (EPA)

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AI Regulation in India: Current State and Future Perspectives

Artificial intelligence (AI) presents big opportunities and potential risks for countries around the globe, and India is no exception. India has a vast, burgeoning high-tech labor force. The country also attracts millions of…more

Artificial Intelligence, Innovative Technology, OECD, Technology Sector

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Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational…more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

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Citizen Petitions, Class Actions Call for FDA Action on Drug Products Containing Benzene

Spurred by a March 5, 2024 citizen petition to the Food and Drug Administration (FDA), a flurry of class action complaints have been filed claiming that drug makers failed to warn consumers about the presence of benzene in…more

Food and Drug Administration (FDA), Life Sciences, Pharmaceutical Industry, Prescription Drugs

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Religious Accommodations: Us Supreme Court Heightens Undue Hardship Standard

The US Supreme Court issued a unanimous decision on June 29, 2023 in Groff v. DeJoy, revising the standard for undue hardship in the context of religious discrimination claims brought under Title VII. The Court held that an…more

Civil Rights Act, De Minimus Doctrine, Employer Liability Issues, Equal Employment Opportunity Commission (EEOC), Groff v DeJoy

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Prosecutors Record First-Ever Conviction for ‘Spoofing’: A New Era of Trading Enforcement

Asset managers and other traders should expect aggressive anti-spoofing enforcement and consider reviewing their trading practices in light of this most recent development. On November 3, 2015, a federal jury in Chicago,…more

Algorithmic Trading, CFTC, Department of Justice (DOJ), Disruptive Trading Practices, Enforcement Actions

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Federal Trade Commission and Members of Congress Signal Revitalized Robinson-Patman Act Enforcement

On March 28, 2024, 14 lawmakers penned an open letter to the Federal Trade Commission urging the agency to revive enforcement of the Robinson-Patman Act. This call to action, coupled with the FTC’s recently renewed interest in…more

Federal Trade Commission (FTC), Manufacturers, Price Discrimination, Robinson-Patman Act

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LA County Passes Fair Chance Ordinance on Employer Consideration of Criminal History

The County of Los Angeles has announced a new Fair Chance Ordinance, taking effect on September 3, 2024, that will regulate the consideration of criminal history information by employers with five or more employees in…more

Background Checks, Criminal Background Checks, Criminal Records, Employer Liability Issues, Fair Chance Act

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COVID-19: Opportunistic and Dislocation Funds Pursuing Credit Strategies

The widespread economic disruption precipitated by the coronavirus (COVID-19) global pandemic and oil price volatility has caused debt portfolios to come under scrutiny and fund sponsors and investors to consider opportunities…more

Capital Markets, Coronavirus/COVID-19, Investment Funds, Investment Opportunities, Portfolio Protections

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SEC Guidance for Disclosure Relating to COVID-19 Crisis

The US Securities and Exchange Commission announced on the morning of March 25 the extension of filing periods covered by previously enacted conditional reporting relief for certain public company filing obligations, and…more

Coronavirus/COVID-19, Filing Requirements, Financial Reporting, Form 10-K, Form 10-Q

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California Expands Diversity Requirements for Public Company Boards

California Governor Gavin Newsom on September 30 signed into law Assembly Bill No. 979, which requires publicly held companies headquartered in California to have a minimum number of directors from “underrepresented…more

Board of Directors, Corporate Governance, Diversity, Diversity and Inclusion Standards (D&I), Gender Equity

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ERISA Fiduciary Duties: Stick to the Plan!

One of the simplest yet most integral parts of meeting your ERISA fiduciary duties is “sticking to the plan.” Section 402(a)(1) of ERISA requires that every employee benefit plan it covers be established and maintained pursuant…more

Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Investment Management, Retirement Plan

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Supreme Court Reimposes Stay on OSHA Emergency Temporary Standard, Allows CMS Rule to Go Forward

The US Supreme Court issued two decisions on January 13, 2022 in cases challenging the Occupational Safety and Health Administration’s (OSHA’s) Emergency Temporary Standard (ETS) on Vaccination and Testing and the Centers for…more

Biden Administration, Centers for Medicare & Medicaid Services (CMS), Constitutional Challenges, Coronavirus/COVID-19, Employer Liability Issues

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IRS Proposes Long-Term, Part-Time Employee Regulations

On November 24, 2023, the Internal Revenue Service (IRS) proposed long-awaited regulations providing guidance on the required coverage of long-term, part-time employees (LTPTEs) under the Setting Every Community Up for…more

401k, Employee Benefits, Employer Liability Issues, Full-Time Employees, IRS

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2021 Year in Review: Automotive Industry

In 2021, the automotive industry was awash in change— driven by investment trends, new goals set by the Biden-Harris administration, and international electric vehicle–focused developments. Looking back, 2021 will be viewed as a…more

Automotive Industry, Biden Administration, Clean Energy, Compliance, Department of Justice (DOJ)

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EU AI Act: How Far Will EU Copyright Principles Extend?

The new EU AI Act contains provisions that reach beyond EU borders that could conflict with US copyright law, among others, when proprietary datasets are used for AI training. Therefore, US companies doing business in Europe…more

Artificial Intelligence, Copyright, Copyright Infringement, Corporate Counsel, EU

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Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

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US Senators and Representatives Propose Bipartisan Workforce Housing Tax Credit Act

In response to a shortage of affordable middle-income housing in the United States, legislators recently introduced the Workforce Housing Tax Credit Act, which includes significant financial incentives for developers, to help…more

Affordable Housing, Low Income Housing, Low-Income Issues, Rental Property, Tax Credits

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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FTC Usurping NLRB and DOL?

Commissioner Alvaro Bedoya wants to challenge worker misclassification under Section 5 of the Federal Trade Commission (FTC) Act. His broad interpretation of the “unfair methods of competition” language in Section 5 of the Act…more

Department of Labor (DOL), Employer Liability Issues, Federal Trade Commission (FTC), FTC Act, Independent Contractors

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International Arbitration: Updates in Asia

With changes in global markets, the international arbitration landscape in Asia has notably shifted over the last few years. This article explores the impacts of volatility in today’s energy markets, related contractual issues,…more

Arbitration, Arbitration Awards, Energy Projects, International Arbitration, LCIA

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Sovereign Wealth Funds Insights - July 2023

With concerns about global economic stability, many sovereign wealth funds (SWFs) are evaluating current market conditions to determine the most effective investment strategies. Diversification is a common theme for many fund…more

Investment, Investment Management, Investors, Securities and Exchange Commission (SEC), Sovereign Wealth Funds

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State Attorneys General Fly into Previously Federal Airspace

The Department of Transportation and 18 states on April 16 agreed to a Memorandum of Understanding (MOU) that delegates more authority to and streamlines the process for state attorneys general to investigate consumer complaints…more

Airlines, Aviation Industry, Department of Transportation (DOT), Memorandum of Understanding, State Attorneys General

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US Supreme Court Narrows Environmental Protection Agency’s Options for Climate Change Regulation

The US Supreme Court’s recent invalidation of the Obama-era Clean Power Plan under the “major questions” doctrine could make it more difficult for the Environmental Protection Agency to craft a similar regulation in the future…more

Air Pollution, Clean Air Act, Clean Power Plan, Climate Change, Environmental Protection Agency (EPA)

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European Unitary Patent and Unified Patent Court: Delayed but Still Arriving in 2023

The European (EP) patent landscape will shift in 2023 with the launch of the unitary patent system, consisting of unitary patents and a Unitary Patent Court. All current EP patent right holders now have a decision with regard to…more

EU, European Patent Office, Intellectual Property Protection, Member State, Patents

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2023 Tech & Sourcing Summit: A Summary

On October 25, the Morgan Lewis technology transactions, outsourcing, and commercial contracts team filled a room in New York with representatives from various industries who were looking to engage in interactive discussions…more

Artificial Intelligence, Automation Systems, Outsourcing, Technology Sector

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US Supreme Court to Weigh In on Tennessee’s Durational Residency Requirements for Wine Retailers

The US Supreme Court is expected to rule this summer in Tennessee Wine & Spirit Retailers Ass’n v. Blair, which marks the first time in 14 years that the Court has taken up a case involving the wine industry. One hundred years…more

Constitutional Challenges, Out-of-State Companies, Retailers, SCOTUS, Twenty-First Amendment

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PBGC Issues Final Regulation on Multiemployer Pension Plan Special Financial Assistance

The Pension Benefit Guaranty Corporation has issued a Final Rule implementing the special financial assistance provisions of the American Rescue Plan Act to help financially troubled multiemployer pension plans. The Final Rule…more

American Rescue Plan Act of 2021, Employee Benefits, Final Rules, Financial Assistance Policies, Multiemployer Plan

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Real-World Evidence: Non-Interventional Studies in Support of Substantial Evidence of Effectiveness

The US Food and Drug Administration (FDA) issued draft guidance, providing recommendations to sponsors who are considering submitting a non-interventional study (i.e., an observational study) to FDA to support the demonstration…more

Evidence, Food and Drug Administration (FDA), Pharmaceutical Industry, Prescription Drugs

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US Announces New Restrictions on Export of Luxury Goods to Russia

Dear Retail Clients and Friends, President Joseph Biden issued Executive Order 14068 on March 11 expanding prohibitions on trade with Russia and announcing new restrictions on Russian imports, exports, and investments—including…more

Belarus, Bureau of Industry and Security (BIS), Economic Sanctions, Executive Orders, Export Controls

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The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

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Key Contract Considerations and Trends: Buying, Selling, and Integrating With Digital Health Solutions

These are exciting times for the advancement of healthcare, whether you’re a hospital, health system, or healthcare technology company or a consumer that benefits from the proliferation of products and services provided. In…more

Artificial Intelligence, Digital Health, Food and Drug Administration (FDA), Life Sciences, PHI

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Navigating Trends and Pitfalls in Power and Utilities M&A Transactions

For businesses in the highly regulated areas of electric, gas, and water, and businesses in the wholesale electric generation space, there are many key considerations to keep in mind when pursuing an M&A transaction…more

Acquisition Agreements, Energy Storage, Infrastructure, Merger Agreements, Oil & Gas

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From Particles to Policy: Microplastics at the Crossroads of Regulation and Litigation

Rising alarm over microplastics as pollutants has sparked significant attention, stirring public concern and regulatory scrutiny. While there is both a lack of standardized methods for measuring microplastics and no scientific…more

Environmental Protection Agency (EPA), Food and Drug Administration (FDA), PFAS, Plastics

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Department of Labor Finalizes QPAM Exemption Amendment

The US Department of Labor (DOL) final amendment to Prohibited Transaction Class Exemption 84-14, the so-called QPAM Exemption that is commonly relied upon by investment managers for ERISA-governed employee benefit plans and…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions, QPAM

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US Supreme Court: FTC Cannot Seek Equitable Monetary Relief in Section 13(b) Cases

In a unanimous 9-0 decision authored by Justice Breyer, the US Supreme Court has held that the Federal Trade Commission (FTC) lacks the authority to seek equitable monetary relief in cases brought in federal court under FTC Act…more

AMG Capital Management LLC v FTC, Enforcement Authority, Federal Trade Commission (FTC), FTC Act, FTCA Section 13(b)

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US Awaits Substantial Changes to Title IX Regulations – Will They Apply to You?

Despite popular belief that Title IX applies only to higher education institutions, the regulations interpreting Title IX—and court decisions analyzing and applying those regulations—apply the statute much more broadly. This…more

Colleges, Department of Education, Educational Institutions, Federal Funding, OCR

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Court Upholds Validity of ERISA Fiduciary Indemnification

Ruling rejects DOL challenge of an agreement by a 100% ESOP-owned company to advance defense costs and indemnify a trustee…more

Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), ESOP, Indemnification, Legal Costs

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Update: Russia Determines Terms of Bidding Process Within Blocked Investment Exchange Mechanism

The Russian Government Commission on Control over Foreign Investments approved the terms and conditions of the bidding process carried out within the framework of the blocked investment exchange mechanism…more

Foreign Direct Investment, Foreign Investment, Investors, Russia

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Private Funds 2023: The Year in Brief

2023 was a watershed year for the private fund industry, not only because the US Securities and Exchange Commission (SEC) adopted a package of new regulations that will substantially alter the private fund landscape (subject to…more

Broker-Dealer, Form PF, Investment Adviser, Investors, Private Funds

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Updated DoD Guidance on Economic Price Adjustments and Inflation Revives Seldom-Used Public Law

The US Department of Defense issued a memorandum this month refining its guidance on inflation-related economic price adjustments for contractors with existing firm-fixed-price contracts. The updated guidance provides new hope…more

Department of Defense (DOD), Federal Acquisition Regulations (FAR), Federal Contractors, Fixed Price Contracts, Guidance Update

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Legal Considerations for WHO’s ‘Possibly Carcinogenic’ Aspartame Classification

On July 14, 2023, the World Health Organization (WHO) published a summary of two findings regarding aspartame, an artificial sweetener found in many consumer products. One finding categorized aspartame as “possibly…more

Cancer, Commercial Insurance Policies, Duty to Defend, Food and Drug Administration (FDA), Food Labeling

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Update: New Russian Decree Introduces Blocking Measures, Authorizes Government to Determine Designated Persons

Russian President Vladimir Putin issued a decree listing several retaliatory special economic measures against legal entities and individuals, as well as organizations controlled by them, to be designated by the Russian…more

Economic Sanctions, Financial Transactions, Foreign Policy, Foreign Relations, Foreign Trade Regulations

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EMEA Private Equity: A Look Ahead at 2024

The private equity industry has faced a number of challenges over the last year: we have seen interest rate rises in response to greater inflationary pressure including increasing labor, transport, and energy costs, the…more

Acquisitions, Investment, Investors, Private Equity, Private Equity Firms

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Copyright, Patent, or Trade Secret Protection for AI Content: Challenges and Considerations

From creative endeavors like art and music to practical applications like translation and weather forecasting, artificial intelligence (AI) is producing more and more content and being used by inventors. Given the nuances in how…more

Artificial Intelligence, Authorship, Computer-Related Inventions, Copyright, European Patent Office

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Outbound Investment Review: Little Immediate Effect, but More is Coming

The US government’s multibranch effort to implement a new regulatory regime designed to regulate outbound investments based on national security concerns moved forward with the White House’s August 9, 2023 Executive Order, EO…more

Investment, National Security, Outbound Transactions, Popular, U.S. Treasury

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A Practical Guide to Aircraft Engine RPFH Agreements

For the ever-evolving aviation industry, the traditional time and material–based contracts between airlines and original equipment manufacturers (OEMs) for the maintenance of aircraft engines may not always be the most practical…more

Aircraft, Airlines, Aviation Industry, Maintenance, Transportation Industry

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Multijurisdictional Securitization in the Age of the New EU Securitization Rules

It can be difficult to structure securitization transactions that comply with both the US and EU regulatory regimes, a task made even more complicated by the new EU rules that came into effect on January 1, 2019. While the…more

Banking Sector, Banks, EU, European Banking Authority (EBA), Financial Institutions

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Seller Has Increased Duty of Care in Case of a Virtual Provision of Information During Due Diligence Process

In its verdict of September 15, 2023 (case reference V ZR 77/22), the German Federal Court of Justice (BGH) increased the requirements to be placed on a seller in the context of due diligence. The court determines under which…more

Due Diligence, Duty of Care, Duty to Disclose, Sellers

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Pennsylvania Amends Overtime Rate Calculations for Salaried, Nonexempt Employees

Pennsylvania employers with salaried, nonexempt employees working in the commonwealth may need to adjust how they calculate overtime premiums for these employees in light of amendments to the Pennsylvania Minimum Wage Act that…more

Employer Liability Issues, Fair Labor Standards Act (FLSA), Non-Exempt Employees, Over-Time, PA Supreme Court

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What the End of COVID-19 Emergency Declarations Means for Employers

President Biden signed into law a House bill on April 10 that immediately ended the COVID-19 presidential declaration of national emergency established in March 2020. The COVID-19 federal public health emergency—a separate…more

Cal-OSHA, COBRA, Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities

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CFPB Finalizes Qualified Mortgage Changes

The Consumer Financial Protection Bureau (Bureau or CFPB) issued two final rules on December 10 with significant implications for the mortgage marketplace. Of the two final rules from the Bureau, one drastically simplifies the…more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Regulatory Reform, Financial Services Industry

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Appellate Court Holds Servicers Can Set Aside Litigation Reserves

The Minnesota Court of Appeals affirmed in a recent case that the securitization agreements at issue authorized the creation of reserves to ensure that the securitization trust could meet its contractual obligation to indemnify…more

Appeals, Indemnification, Investors, Securitization

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US Department of Labor Proposes Extensive Changes to QPAM Exemption

The US Department of Labor (DOL) published in the July 27, 2022, Federal Register a number of proposed changes to Prohibited Transaction Class Exemption (PTE) 84-14, the so-called “QPAM Exemption.” Investment managers of US…more

Asset Management, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

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Remote and Hybrid Work: FINRA Announces Effective Dates of New Rules

The die is cast: FINRA has published Regulatory Notice 24-02 (RN 24-02) announcing the effective dates and other key dates and considerations for its recently adopted Residential Supervisory Location (RSL) and Remote Inspection…more

Banking Sector, Financial Industry Regulatory Authority (FINRA), Financial Services Industry

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German Federal Court of Justice Strengthens Minimum Offer Price Rules Under German Securities Acquisitions and Takeover Act - Legal Insights Germany

The German Federal Court of Justice (FCJ), in two recent judgments (case numbers II ZR 219/21 and II ZR 220/21), awarded former shareholders of a target company that accepted a takeover offer payment claims for the difference…more

Acquisitions, Capital Markets, Germany, Shareholders

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Recent Developments of the New German Supply Chain Act

Addressees of the German Act on Corporate Due Diligence Obligations in Supply Chains should note some new developments, including the first complaints filed under the act, guidance on small- and mid-sized enterprises as…more

Due Diligence, Germany, Human Rights, Risk Management, Supply Chain

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Amendments Proposed to SGX Listing Rules to Support Company Restructuring

The Singapore Exchange Regulation (SGX RegCo) recently launched a public consultation on its proposed enhancements to Singapore’s corporate restructuring and trading resumption frameworks. Proposed changes to the Mainboard Rules…more

Corporate Restructuring, Listing Rules, Singapore, Singapore Exchange

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SEC’s Climate Disclosure Rules: Balancing Compliance Amid Legal Uncertainty

The US Securities and Exchange Commission (SEC) completed a historic rulemaking on March 6, 2024 by adopting new rules requiring public companies to disclose certain climate-related information in registration statements and…more

Climate Change, Corporate Governance, Disclosure Requirements, Greenhouse Gas Emissions, Securities and Exchange Commission (SEC)

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IRS’s Implicit Parental Support Guidance ‘Formalizes’ Past Litigation Position

The Internal Revenue Service (IRS) recently issued a nonbinding Generic Legal Advice Memorandum (GLAM) that provides advice on Internal Revenue Code Section 482 and so-called implicit parental support. Consistent with prior IRS…more

Corporate Taxes, IRS, Parent Corporation, Section 482, Tax Planning

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Leasing Considerations for Tenants and Landlords During COVID-19 Pandemic

Tenants and landlords should consider whether certain provisions such as force majeure, frustration of purpose, and/or impracticability of performance can protect them under current leases—and whether to include such provisions…more

Contract Terms, Coronavirus/COVID-19, Crisis Management, Force Majeure Clause, Frustration of a Common Purpose

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The United States’ Approach to AI Regulation: Key Considerations for Companies

Despite the media headlines that may lead one to believe that there are no laws applicable to artificial intelligence (AI) in the US, existing federal and state laws apply, along with a series of frameworks issued by various…more

Artificial Intelligence, Federal Trade Commission (FTC), FTC Act, Machine Learning, Regulatory Oversight

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Minimum Resale Price Maintenance Agreements Face Scrutiny from Maryland Attorney General

The Office of the Maryland Attorney General recently announced that the state is actively investigating resale price maintenance (RPM) violations under Maryland’s state antitrust law. Maryland’s investigations are notable as it…more

Antitrust Provisions, Antitrust Violations, Competition, Resale Price Maintenance (RPM)

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New York Expands False Claims Act Tax Liability for Non-Filers

New York Governor Kathy Hochul recently signed into law new legislation expanding the reach of the New York False Claims Act (NYFCA) to entities that fail to file tax returns in New York. Unlike the federal False Claims Act…more

False Claims Act (FCA), New York, Qui Tam, State Taxes, Tax Fraud

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Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

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Key Strategies and Considerations for Chinese Companies Preparing for and Responding to a Subpoena

It is the prerogative of government authorities—US and non-US alike—to demand information from individuals or organizations and seek the assistance of courts to enforce compliance. Although such demands take various forms, one…more

China, Coronavirus/COVID-19, Foreign Policy, Government Agencies, Internal Controls

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US Department of Commerce Finalizes National Security Guardrails for CHIPS Incentives Program

The Department of Commerce’s (Commerce’s) National Institute of Standards and Technology has officially released final rules to bolster the national security measures implemented as part of the Creating Helpful Incentives to…more

Final Rules, National Security, Semiconductors, U.S. Commerce Department

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Citizen Petitions, Class Actions Call for FDA Action on Drug Products Containing Benzene

Spurred by a March 5, 2024 citizen petition to the Food and Drug Administration (FDA), a flurry of class action complaints have been filed claiming that drug makers failed to warn consumers about the presence of benzene in…more

Food and Drug Administration (FDA), Life Sciences, Pharmaceutical Industry, Prescription Drugs

See all updates »

Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

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Ukraine Conflict Two Years Later: Key Legal Lessons for Businesses

It’s been two years since the escalation of the ongoing conflict in Ukraine, which has led many companies with business operations or personnel in Eastern Europe to adjust, restructure, or exit locations in Russia. Meanwhile,…more

Economic Sanctions, Foreign Policy, Foreign Relations, Military Conflict, Russia

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State Attorneys General Fly into Previously Federal Airspace

The Department of Transportation and 18 states on April 16 agreed to a Memorandum of Understanding (MOU) that delegates more authority to and streamlines the process for state attorneys general to investigate consumer complaints…more

Airlines, Aviation Industry, Department of Transportation (DOT), Memorandum of Understanding, State Attorneys General

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The Dawn of BEPS 2.0 in Singapore: An Uncertain Road, A Certain Destination

The global wave of the two-pillar solution to address base erosion and profit shifting, commonly known as BEPS 2.0, has formally washed ashore in Singapore. It is now certain that multinational enterprises (MNEs) with local…more

BEPS, Corporate Taxes, Cross-Border Transactions, International Tax Issues, Multinationals

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2024 Proxy Season: The Importance of Evaluating DEI, ESG, and Corporate Social Responsibility Disclosures

In preparing for both the 2024 proxy season and publication of inaugural or refreshed corporate social responsibility or sustainability reports, as well as in anticipation of final climate disclosure rules from the SEC as of…more

Board of Directors, Corporate Governance, Diversity, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG)

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Insurance, Liability, and Enforcement Considerations for Organizations Providing Vaccine Access

The recent rollout of various COVID-19 vaccines has raised many questions around their availability, distribution, and requirements for employers and other groups, including essential insurance, liability, and enforcement…more

Civil Liability, Commercial General Liability Policies, Coronavirus/COVID-19, Infectious Diseases, Life Sciences

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The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

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2014 Changes to the New York Uniform Commercial Code

The changes provide modernization but with some nonuniform provisions. On December 17, 2014, New York Governor Andrew Cuomo signed into law New York Assembly Bill 9933, which amends the Uniform Commercial Code (the UCC)…more

Amended Legislation, Article 9, Governor Cuomo, Uniform Commercial Code (UCC)

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Final Treasury Regulations Published on Transition from IBORs to Qualified Rates

The Internal Revenue Service and the US Treasury Department have issued final regulations providing rules for taxpayers transitioning from interbank offered rates to qualified rates. These regulations provide financial…more

Banking Sector, FATCA, Final Rules, Financial Conduct Authority (FCA), Financial Institutions

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OCC Proposes Substantive and Procedural Revisions for Bank Mergers

The US Office of the Comptroller of the Currency (OCC) on January 29 proposed meaningful revisions to its rules and processes for reviewing proposed transactions involving national banks under the Bank Merger Act. The proposed…more

Anti-Money Laundering, Bank Secrecy Act, Banking Sector, Banks, BSA/AML

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CFPB Announces Revised Supervisory Appeals Process

The Consumer Financial Protection Bureau (CFPB) on February 16 issued an internal process regulation—effective immediately upon publication in the Federal Register—updating and formalizing the steps that supervised institutions…more

Banking Sector, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

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US Tax Court Decision Opens Limited Partners to Self-Employment Tax Exposure

Private equity, hedge fund, and other investment fund sponsors should be aware of the recent development in the Internal Revenue Service’s (IRS’s) audit campaign with respect to potential liability for Self-Employment…more

Income Taxes, IRS, Limited Liability Company (LLC), Limited Partnerships, Self-Employment Tax

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2024 Proxy Season: The Importance of Evaluating DEI, ESG, and Corporate Social Responsibility Disclosures

In preparing for both the 2024 proxy season and publication of inaugural or refreshed corporate social responsibility or sustainability reports, as well as in anticipation of final climate disclosure rules from the SEC as of…more

Board of Directors, Corporate Governance, Diversity, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG)

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FDI Screening Alert: Challenges for Sensitive Technology Deals in Germany and United Kingdom

Two major transactions have recently faced headwinds in Germany and the United Kingdom, jurisdictions traditionally perceived as investor friendly. Specifically, Taiwanese-based investor GlobalWafers Co. Ltd. failed to obtain…more

Critical Infrastructure Sectors, Foreign Acquisitions, Foreign Direct Investment, Foreign Investment, Mergers

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Life Sciences International Review | August 2020

Welcome to the August 2020 issue of our Life Sciences International Review. This issue covers new developments within Asia, Europe, and the United States in intellectual property, regulatory, pricing, and international trade,…more

Asia, Coronavirus/COVID-19, Digital Health, EU, Food and Drug Administration (FDA)

See all updates »

Singapore Exchange Amends Listing Rules Following Changes to the Companies Act

The Singapore Exchange has introduced amendments to the Mainboard and Catalist listing rules—including in relation to the electronic transmission of documents to shareholders, exemptions for insurance coverage and indemnities…more

CEOs, Consent, Directors, Electronic Communications, Financial Statements

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IRS Announces Increased Gift and Estate Tax Exemption Amounts for 2024

The US Internal Revenue Service has announced that the annual gift tax exclusion is increasing in 2024 due to inflation. The exclusion will be $18,000 per recipient for 2024—the highest exclusion amount ever…more

Estate Planning, Estate Tax, Estate-Tax Exemption, Gift Tax, Gift-Tax Exemption

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Washington State Year-End Legislative Developments Employers Need to Know

Washington state recently enacted several laws expanding protections for employees. Washington employers should be aware that these laws have significant implications in the workplace, including restrictions on employers’…more

Disclosure Requirements, Employer Liability Issues, Over-Time, Quotas, Recordkeeping Requirements

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Inducement Grants Enable Companies to Avoid Depletion of Equity Plan Share Reserves

This LawFlash discusses awarding equity grants to newly hired employees as “inducement grants” outside the shareholder approved plan and the pros and cons of making inducement grants…more

Coronavirus/COVID-19, Equity Compensation, Equity Grants, Hiring & Firing, Inducements

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SEC Adopts New Private Fund Adviser Rules with Nuanced Application to Non-US Advisers

The US Securities and Exchange Commission (SEC) recently adopted sweeping new rules under the Investment Advisers Act of 1940 (Advisers Act) that apply in certain circumstances to non-US advisers to private investment funds…more

Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds, Securities and Exchange Commission (SEC)

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Ninth Circuit: US Must Pay Share of CERCLA Cleanup Costs at Former Military Plant

The decision could make it easier to recover from the government for CERCLA response costs at former defense production facilities and shift leverage in settlement discussions…more

CERCLA, Cleanup Doctrine, Environmental Policies, tdy

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True Lender Rule Invalidated

Congress has enacted and President Joseph Biden has signed a joint resolution of disapproval under the Congressional Review Act (CRA) of the Office of the Comptroller of the Currency’s (OCC’s) “true lender” rule, which, as we…more

Congressional Review Act, FDIC, Financial Regulatory Reform, Financial Services Industry, FinTech

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US Supreme Court Restricts Use of US Courts to Aid in Discovery for International Arbitrations

Parties seeking to use the US court system to facilitate discovery in foreign commercial and investor-state arbitrations may no longer have that option…more

28 U.S.C. § 1782, Commercial Arbitration, Discovery, Foreign Jurisdictions, Foreign Tribunals

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

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A Closer Look at DOJ’s New Safe Harbor Policy for Voluntary Self-Disclosure in M&A

With the Department of Justice’s (DOJ’s) recently announced “Safe Harbor Policy” encouraging voluntary self-disclosure in mergers and acquisitions (M&A), this LawFlash discusses key considerations and measures that acquiring…more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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Shanghai Municipal Health Commission Issues New Regulation on Integrity Practices for Medical Staff

The Shanghai Municipal Health Commission—with the Shanghai Municipal Medical Insurance Bureau and the Shanghai Municipal Administration of Traditional Chinese Medicine—issued a new regulation on April 7, “Implementation Rules…more

Bribery, China, Corruption, Pharmaceutical Industry

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Shanghai Municipal Health Commission Issues New Regulation on Integrity Practices for Medical Staff

The Shanghai Municipal Health Commission—with the Shanghai Municipal Medical Insurance Bureau and the Shanghai Municipal Administration of Traditional Chinese Medicine—issued a new regulation on April 7, “Implementation Rules…more

Bribery, China, Corruption, Pharmaceutical Industry

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AIFMD II Enters into Force: Key Changes to EU Fund Regime

After several years of negotiations between the European Commission, European Council, and European Parliament following the publication of the initial draft proposal in November 2021, AIFMD II was published in the Official…more

Alternative Investment Fund Managers Directive (AIFMD), EU, European Economic Area (EEA), Investment Funds

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NRC Updates Guidance on Power Reactor Decommissioning Costs

The US Nuclear Regulatory Commission (NRC) requires nuclear power reactor licensees to maintain decommissioning cost estimates and to adjust those estimates periodically to account for inflation and other matters, pursuant to…more

Code of Federal Regulations (CFR), Decommissioned Facilities, Energy Policy, Energy Sector, Nuclear Power

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China’s Highest Court Highlights Guidance on Termination Certificate Guidelines Set by Appellate Court

The Supreme People’s Court of the People’s Republic of China (PRC) recently confirmed guidance on the contents of termination certificates, which employers in the PRC are required to issue to evidence the end of an employment…more

China, Employer Liability Issues, Employment Contract, Hiring & Firing, Termination

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Revisiting Post-Closing Management Incentives in Challenging Climates

When private equity investment transactions close, management and private equity investors are off to the races—generally aligned on strategic and financial objectives. However, as market conditions and the economic climate…more

Investment, Investors, Private Equity, Private Equity Firms, Private Equity Funds

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SEC Amends Rules for Reporting Beneficial Ownership on Schedules 13D and 13G

The US Securities and Exchange Commission (SEC) adopted amendments on October 10, 2023 to the rules governing beneficial ownership reporting on Schedules 13D and 13G and provided guidance on the rules’ application. The revisions…more

Beneficial Owner, Proposed Amendments, Reporting Requirements, Schedule 13D, Securities and Exchange Commission (SEC)

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Beware States Offering Unilateral Advance Pricing Agreements for Transfer Pricing

As state revenue agencies train their auditors in traditional IRC §482 transfer-pricing methodologies or outsource transfer-pricing audits to third-party specialists, a recent initiative by the Indiana Department of Revenue…more

Advanced Pricing Agreements, Audits, Cross-Border Transactions, Tax Planning, Transfer Pricing

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Religious Accommodations: Us Supreme Court Heightens Undue Hardship Standard

The US Supreme Court issued a unanimous decision on June 29, 2023 in Groff v. DeJoy, revising the standard for undue hardship in the context of religious discrimination claims brought under Title VII. The Court held that an…more

Civil Rights Act, De Minimus Doctrine, Employer Liability Issues, Equal Employment Opportunity Commission (EEOC), Groff v DeJoy

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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NLRB and OSHA Announce Partnership Over Worker Safety Protections

The National Labor Relations Board (NLRB) and Occupational Safety and Health Administration (OSHA) executed a Memorandum of Understanding (MOU) on October 31 regarding a partnership designed to strengthen their efforts to…more

Employer Liability Issues, NLRA, NLRB, OSHA, Workplace Safety

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China Securities Regulatory Commission Responds to Foreign Asset Managers’ FMC Applications

Feedback on recent applications to the China Securities Regulatory Commission provides some clarity on what will be expected from foreign asset managers wishing to establish fund management companies in the Chinese domestic…more

Asset Management, China, China Securities Regulatory Commission (CSRC), Financial Markets, Foreign Corporations

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IRS Permanently Allows Electronic Signatures on Certain Tax Forms

The US Internal Revenue Service (IRS) has updated the Internal Revenue Manual (IRM) to specify which forms taxpayers can electronically sign and which types of electronic signatures are permitted, now on a permanent basis…more

E-Signatures, Income Taxes, IRS, Tax Forms, Tax Returns

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Los Angeles ‘Mansion Tax’ May Be Lessened Using Tenants-in-Common Structure

A recent amendment to the Los Angeles Municipal Code, Measure ULA, has greatly increased the real property transfer taxes for realty sold within the city. Properties owned and sold as tenants in common may help limit the impact…more

Real Estate Market, Realty Transfer Taxes, Tenants, Tenants in Common

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IP and Commercial Contract Litigation Developments and Trends: What Transactional Lawyers Should Know

As part of our Spotlight series, we invited litigation partners Dana E. Becker (Philadelphia), Shon Lo (Chicago), and Krista Vink Venegas, Ph.D. (Chicago), to talk about recent trends and issues in IP-related and other…more

Commercial Contracts, Contract Drafting, Contract Terms, IP License, Non-Disclosure Agreement

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Metaverse: A Jumpstart Guide to Intellectual Property, Antitrust, and International Considerations

The term “metaverse” first appeared in Neal Stephenson’s dystopian novel Snow Crash in 1992. Two decades later, the metaverse has evolved from a concept in print into an interactive and immersive reality. Its hyper-realistic…more

Corporate Branding, Cryptocurrency, Digital Assets, Intellectual Property Protection, Metaverse

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Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational…more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

See all updates »

US Department of State Releases May 2024 Visa Bulletin

The US Citizenship and Immigration Services (USCIS) will use the Final Action Dates for Employment-Based Adjustment of Status Applications chart in May 2024. The Final Action Dates chart reflects no advancement…more

EB-1, EB-2, EB-3, US Department of State, USCIS

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SEC Charges Investment Advisers with Making False and Misleading Statements About Their Use of AI

On March 18, the US Securities and Exchange Commission (SEC) announced the first AI-related settled actions against two investment advisers—Delphia (USA) Inc. and Global Predictions Inc.—for making false and misleading…more

Enforcement Actions, False Statements, Investment Adviser, Misleading Statements, Securities and Exchange Commission (SEC)

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ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial…more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

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US Department of Labor Publishes Its Independent Contractor Final Rule

The US Department of Labor (DOL) published on January 10, 2024 its long-awaited Final Rule regarding independent contractor classification under the Fair Labor Standards Act (FLSA), signaling a return to its pre-2021…more

Department of Labor (DOL), Economic Realities Test, Employee Definition, Employer Liability Issues, Fair Labor Standards Act (FLSA)

See all updates »

FAR Council Proposes Significant Pay Disclosure Obligations, Salary History Ban

Federal contractors and subcontractors may soon be required to disclose certain compensation and benefits information in job postings that will support federal contract work, and they may be barred from considering job…more

Employer Liability Issues, Federal Acquisition Regulations (FAR), Federal Contractors, Job Applicants, Salary/Wage History

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COVID-19: Opportunistic and Dislocation Funds Pursuing Credit Strategies

The widespread economic disruption precipitated by the coronavirus (COVID-19) global pandemic and oil price volatility has caused debt portfolios to come under scrutiny and fund sponsors and investors to consider opportunities…more

Capital Markets, Coronavirus/COVID-19, Investment Funds, Investment Opportunities, Portfolio Protections

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US Supreme Court: Highly Compensated Employees Entitled to Overtime Unless FLSA Exemption Requirements Satisfied

In Helix Energy Solutions Group Inc. v. Hewitt, the US Supreme Court held (on the facts of that case) that an employer had improperly classified a supervisory employee earning more than $200,000 per year as an exempt “executive”…more

Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Helix Energy Solutions Group Inc v Hewitt No 21-984, Highly Compensated Employees

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Delaware Supreme Court Holds MFW Doctrine Applies to Any Controlling Stockholder Transaction Resulting in Non-Ratable Benefit

In a case with implications for companies with controlling stockholders, the Delaware Supreme Court held that the MWF Doctrine applies to any transaction involving a controlling shareholder receiving a non-ratable benefit, and…more

Business Judgment Rule, Controlling Stockholders, Entire Fairness Standard, Standard of Review

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2023 Tech & Sourcing Summit: A Summary

On October 25, the Morgan Lewis technology transactions, outsourcing, and commercial contracts team filled a room in New York with representatives from various industries who were looking to engage in interactive discussions…more

Artificial Intelligence, Automation Systems, Outsourcing, Technology Sector

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Private Funds 2023: The Year in Brief

2023 was a watershed year for the private fund industry, not only because the US Securities and Exchange Commission (SEC) adopted a package of new regulations that will substantially alter the private fund landscape (subject to…more

Broker-Dealer, Form PF, Investment Adviser, Investors, Private Funds

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Monetary Authority of Singapore’s Enhanced Investigative and Supervisory Powers

Singapore’s new bill grants the Monetary Authority of Singapore (MAS) broader authority over the financial sector to oversee, investigate, and penalize misconduct. It aims to address the industry's growth and complexity,…more

Banking Sector, Banks, Financial Services Industry, Monetary Authority of Singapore, Singapore

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HKEX to Further Promote Its Paperless Initiative in 2024

The Stock Exchange of Hong Kong Limited (HKEX) recently released its Consultation Conclusions on the Consultation Paper introduced in December 2022, Proposals to Expand the Paperless Listing Regime and Other Rule Amendments,…more

HKEx, Hong Kong, Hong Kong Stock Exchange, Listing Rules

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Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational…more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

See all updates »

SEC Proposes Mandatory Cybersecurity Disclosures

The US Securities and Exchange Commission has proposed new rules and amendments to mandate disclosure regarding cybersecurity risk management, strategy, governance, and incident reporting, including amendments to Form 8-K, Form…more

Cyber Incident Reporting, Cybersecurity, Disclosure Requirements, Form 10-K, Form 8-K

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Morgan Lewis Automotive & Mobility – Q3 | 2023

Welcome to the 37th edition of our newsletter on developments in the automotive industry, published by Morgan Lewis’s automotive and mobility team with contributions from lawyers in our offices around the globe. We counsel our…more

Acquisitions, Antitrust Provisions, Automotive Industry, Competition, Mergers

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Default Rate Interest in the Wake of Golden Seahorse Chapter 11 Decision

Can a debtor reinstate a defaulted loan under a Chapter 11 plan without paying default rate interest? This question was analyzed thoroughly in a recent Southern District of New York Bankruptcy Court decision by Judge Philip…more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Debtors

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Pennsylvania Does Not Recognize Duty to Warn an Employee’s Spouse

District court predicts that Pennsylvania will not recognize a duty to protect or warn the spouse of an employee in “take home” or “household” asbestos exposure cases. On August 26, Judge Eduardo C. Robreno of the U.S…more

Asbestos, Boeing, Employer Liability Issues, Take-Home Exposure

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US Department of Labor Publishes Its Independent Contractor Final Rule

The US Department of Labor (DOL) published on January 10, 2024 its long-awaited Final Rule regarding independent contractor classification under the Fair Labor Standards Act (FLSA), signaling a return to its pre-2021…more

Department of Labor (DOL), Economic Realities Test, Employee Definition, Employer Liability Issues, Fair Labor Standards Act (FLSA)

See all updates »

Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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OSHA Issues Final ‘Walkaround Rule’ Giving Unions and Other Third Parties Access to Private Employer Worksites

A new rule from the US Occupational Safety and Health Administration (OSHA) affords unions, labor activists, and other third parties access to private worksites during workplace inspections…more

Employer Liability Issues, OSHA, Safety Inspections, Union Representatives, Unions

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

See all updates »

The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private…more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

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Online Tracking Technologies: Updated HIPPA Guidance Creates Uncertainty

On March 18, the US Department of Health and Human Services’ (HHS’s) Office for Civil Rights (OCR) updated its guidance regarding the use of online tracking technologies. The American Hospital Association and others filed a…more

Business Associates, Covered Entities, Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

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Online Tracking Technologies: Updated HIPPA Guidance Creates Uncertainty

On March 18, the US Department of Health and Human Services’ (HHS’s) Office for Civil Rights (OCR) updated its guidance regarding the use of online tracking technologies. The American Hospital Association and others filed a…more

Business Associates, Covered Entities, Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

See all updates »

DOJ Breaks Silence on ADA Web Accessibility with New Guidance

Following a period of silence on whether the Americans with Disabilities Act requires websites to be accessible to persons with disabilities, the US Department of Justice released new guidance on March 18 focusing on covered…more

Americans with Disabilities Act (ADA), Department of Justice (DOJ), Disability Discrimination, New Guidance, Public Accommodation

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Small and Micro Entities with COVID-19-related Inventions Now Have Inexpensive Track to Patent

The US Patent and Trademark Office (USPTO) on May 8 announced a new COVID-19 Prioritized Examination Pilot Program (Pilot Program), under which eligible small and micro entities will receive prioritized examination without…more

Coronavirus/COVID-19, Intellectual Property Protection, Patent Examinations, USPTO, USPTO Pilot Program

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CDC Expands Definition of ‘Close Contact’ to Include Multiple Short Interactions

The US Centers for Disease Control and Prevention has expanded its definition of “close contact” to include individuals who spend 15 cumulative minutes within six feet of an individual infected with coronavirus (COVID-19) over a…more

Centers for Disease Control and Prevention (CDC), Contact Tracing, Coronavirus/COVID-19, Infectious Diseases, New Guidance

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FTC Usurping NLRB and DOL?

Commissioner Alvaro Bedoya wants to challenge worker misclassification under Section 5 of the Federal Trade Commission (FTC) Act. His broad interpretation of the “unfair methods of competition” language in Section 5 of the Act…more

Department of Labor (DOL), Employer Liability Issues, Federal Trade Commission (FTC), FTC Act, Independent Contractors

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Tokenized Funds, The Next Investment Trend? Regulatory Developments in the UK, EU, and UAE

There has been a growing trend among traditional funds and asset managers to launch programs to tokenize alternative assets. The main benefits of tokenizing funds include increased liquidity and accessibility, heightened…more

Asset Management, Blockchain, Cryptocurrency, Distributed Ledger Technology (DLT), Financial Markets

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Department of Labor Proposes Raising Salary Level for FLSA ‘White-Collar’ Exemptions to $55,068

The US Department of Labor seeks to increase the salary levels needed to qualify as exempt under the Fair Labor Standards Act’s white-collar and highly compensated exemptions…more

Department of Labor (DOL), Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Highly Compensated Employees

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COVID-19 Business Interruption Losses: The Potential Keys to Unlocking Insurance Recovery

As the coronavirus (COVID-19) pandemic evolves, governmental executive and legislative authorities are taking actions in the form of emergency declarations and proposed legislation that could improve a company’s ability to…more

Business Disruption, Business Interruption, Business Losses, Civil Authority Coverage, Coronavirus/COVID-19

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DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting…more

Artificial Intelligence, Department of Justice (DOJ), Fraud, Securities and Exchange Commission (SEC), Self-Disclosure Requirements

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Navigating The Global Data Privacy Landscape: What Multinational Corporations Should Consider When Doing Business

The ever-evolving data privacy landscape continues to become more complex as new developments play out on the global stage. In the United States, a number of individual state laws have come into force, with more following in…more

Cybersecurity, Data Breach, Data Privacy, Data Protection, Data Security

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OSHA Issues Guidance on Mitigating and Preventing COVID-19 Spread in the Workplace

Among other features, the new guidance recommends that employers implement a COVID-19 prevention program and identifies key measures for limiting the spread of COVID-19. The Occupational Safety and Health Administration (OSHA)…more

Coronavirus/COVID-19, Employer Liability Issues, Health and Safety, Infectious Diseases, Masks

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Life Sciences International Review | August 2020

Welcome to the August 2020 issue of our Life Sciences International Review. This issue covers new developments within Asia, Europe, and the United States in intellectual property, regulatory, pricing, and international trade,…more

Asia, Coronavirus/COVID-19, Digital Health, EU, Food and Drug Administration (FDA)

See all updates »

The ESG Investing Debate: 2023 Year-end Updates

Environmental, social, and governance (ESG) investing has been subject to increased US state and federal regulation over the last several years, and 2023 continued that status quo. As of January 1, 2024, 20 states have enacted…more

Corporate Counsel, Employee Benefits, Environmental Social & Governance (ESG), Fiduciary Duty, Financial Services Industry

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UK Government Consults on Changes to Application of National Security and Investment Act

The UK government recently issued a Call for Evidence seeking input from stakeholders regarding potential changes to how it enforces the National Security and Investment Act (NSIA), which enables the UK government to scrutinise…more

Acquisitions, Foreign Acquisitions, Foreign Investment, National Security, UK

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Morgan Lewis Spark Q2 - 2021 - Russian

Morgan Lewis Spark – это ежеквартальный обзор, освещающий нововведения и изменения российского законодательства, имеющие важное значение для компаний, работающих в российских секторах энергетики и добычи полезных ископаемых. Мы…more

Climate Change, Electricity, Energy Projects, Energy Sector, Greenhouse Gas Emissions

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Update: Russia Determines Terms of Bidding Process Within Blocked Investment Exchange Mechanism

The Russian Government Commission on Control over Foreign Investments approved the terms and conditions of the bidding process carried out within the framework of the blocked investment exchange mechanism…more

Foreign Direct Investment, Foreign Investment, Investors, Russia

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LA County Passes Fair Chance Ordinance on Employer Consideration of Criminal History

The County of Los Angeles has announced a new Fair Chance Ordinance, taking effect on September 3, 2024, that will regulate the consideration of criminal history information by employers with five or more employees in…more

Background Checks, Criminal Background Checks, Criminal Records, Employer Liability Issues, Fair Chance Act

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NLRB Issues New Joint Employer Rule Affirming Expansive Joint Employer Status

The NLRB recently published its final rule on the standard for determining joint employer status, broadening the circumstances under which separate businesses can be considered joint employers—thereby making them obligated to…more

Employer Liability Issues, Franchisee, Franchisors, Joint Employers, NLRB

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House of Commons Treasury Committee Issues Findings on Sexism in Financial Services Industry

The UK House of Commons Treasury Committee published a report on 8 March, 2024 containing the findings of its inquiry into sexism in the financial services industry, citing a lack of cultural change in the sector as the main…more

Banking Sector, Banks, Financial Services Industry, UK

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SEC’s Climate Disclosure Rules: Balancing Compliance Amid Legal Uncertainty

The US Securities and Exchange Commission (SEC) completed a historic rulemaking on March 6, 2024 by adopting new rules requiring public companies to disclose certain climate-related information in registration statements and…more

Climate Change, Corporate Governance, Disclosure Requirements, Greenhouse Gas Emissions, Securities and Exchange Commission (SEC)

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The Impact of Brexit on UK Competition Law Cases

Following Brexit, EU competition law continued to apply in the United Kingdom until 31 December 2020 as part of an agreed Transition Period. In this LawFlash, we summarise how the end of the Transition Period is likely to impact…more

Anti-Competitive, Antitrust Provisions, Competition, EU, Jurisdiction

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US-China Auditing Oversight Agreement Signals Cooperation Between Nations but Could Lead to Increased Enforcement Risk

Due to a recent agreement between the Public Company Accounting Oversight Board and Chinese securities regulators, many US exchange–listed companies audited by accounting firms based in mainland China and Hong Kong may be able…more

Capital Markets, China, Corporate Governance, Department of Justice (DOJ), Foreign Corporations

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Courts Issue Three Significant DEI Decisions

Last week, three federal courts issued significant decisions impacting the diversity, equity, and inclusion (DEI) legal landscape. Together, the cases demonstrate the rapidly evolving state of the law with respect to DEI…more

Diversity, Diversity and Inclusion Standards (D&I), Employee Training, Employer Liability Issues, Stop Woke Act

See all updates »

EU Launches Two More In-Depth Investigations Under Foreign Subsidies Regulation

Just months after its first investigation under the Foreign Subsidies Regulation of Chinese train maker CRRC Corp. (see our LawFlash here), the European Commission has targeted two more companies participating in an EU tender,…more

Acquisitions, Competition, Corporate Counsel, European Commission, Foreign Subsidies

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

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Dealing with the Dearly Departed in Multiemployer Defined Benefit Plans

Recent headlines involving the Central States Teamsters Pension Fund and the Pension Benefit Guaranty Corporation’s (PBGC) Special Financial Assistance (SFA) Program highlights an issue with meaningful consequences for…more

Defined Benefit Plans, Employee Benefits, Multiemployer Plan, Pensions, Retirement Plan

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Pennsylvania DLI Issues Proposed Revisions to PMWA Overtime Exemption Regulations

On June 12, the Pennsylvania Department of Labor and Industry submitted proposed rulemaking announcing proposed revisions to the Pennsylvania Minimum Wage Act overtime exemptions. The proposed rulemaking seeks to significantly…more

Department of Labor (DOL), Minimum Wage, Over-Time, Wage and Hour

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Cal/OSHA Standards Board Approves Non-Emergency COVID-19 Prevention Standard

The California Occupational Safety and Health (Cal/OSHA) Standards Board voted on December 15 to approve a non-emergency COVID-19 prevention standard. If approved by the Office of Administrative Law, this non-emergency standard,…more

Cal-OSHA, Coronavirus/COVID-19, Emergency Rule, Employer Liability Issues, Office of Administrative Law

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Forced Labor Laws Year in Review

In 2023, there was an expansion in scope of the discussion around forced labor in the global supply chain. In the United States, the enforcement of the Uyghur Forced Labor Prevention Act (UFLPA) continued to be the main focus,…more

Customs and Border Protection, Forced Labor, Human Rights, Imports, Supply Chain

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Courts Issue Three Significant DEI Decisions

Last week, three federal courts issued significant decisions impacting the diversity, equity, and inclusion (DEI) legal landscape. Together, the cases demonstrate the rapidly evolving state of the law with respect to DEI…more

Diversity, Diversity and Inclusion Standards (D&I), Employee Training, Employer Liability Issues, Stop Woke Act

See all updates »

Massachusetts Limits Foreclosures, Evictions; Requires Forbearance

Governor Charlie Baker signed emergency legislation on April 20 limiting evictions for residential and small business properties, and limiting foreclosures and requiring forbearance for residential properties…more

CARES Act, Coronavirus/COVID-19, Eviction, Forbearance Agreements, Foreclosure

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Second Circuit Confirms ‘Willfulness’ Standard for Scienter Has Teeth Under the Anti-Kickback Statute and False Claims Act

In a new decision that could have a significant impact on the persistent efforts of relators to reach otherwise lawful conduct and characterize it as a violation of the Anti-Kickback Statute (AKS), the US Court of Appeals for…more

Anti-Kickback Statute, False Claims Act (FCA), Health Care Providers, Healthcare Fraud, Medicare

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Update on Status of US-UK 123 Agreement Regarding Nuclear Trade

As we reported in 2019, the United Kingdom’s withdrawal from the European Union, which occurred on January 31, 2020, included the United Kingdom’s exit from the European Atomic Energy Community (Euratom). Exports of nuclear…more

Atomic Energy, Atomic Energy Act, Euratom Treaty, Nuclear Power, UK

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Rewind and (P)FAST Forward: Current Developments in PFAS Regulation

With a flurry of new regulatory activity involving per- and polyfluoroalkyl substances (PFAS), 2023 proved to be a milestone year for PFAS governance by the US Environmental Protection Agency (EPA). Among other key developments,…more

Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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NRC OI Annual Report: Significant Jump in Materials Licensee and Discrimination Investigations for FY 2023

The NRC’s Office of Investigations (OI) recently published its Annual Report for fiscal year 2023, summarizing its activities from October 1, 2022 through September 30, 2023. According to the annual report, OI opened 82 new…more

Atomic Energy Act, Energy Sector, Investigations, Nuclear Power, Nuclear Regulatory Commission

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Congress Gives 40-Year Extension for Price-Anderson Nuclear Liability Framework

With the change of a single number, Congress has provided continued support for the nuclear power industry by renewing the Price-Anderson Act. Congress amended Section 170 of the Atomic Energy Act of 1954 (commonly known as the…more

Department of Energy (DOE), Energy Sector, Nuclear Power, Nuclear Regulatory Commission

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US Supreme Court Affirms Easy Government Dismissal Standard in Declined Qui Tam Cases, But Renews Constitutionality Debate

The US Supreme Court’s decision in United States ex rel. Polansky v. Executive Health Resources ­confirms the relative ease by which the US government can exercise its dismissal authority under False Claims Act (FCA) Section…more

Constitutional Challenges, False Claims Act (FCA), Qui Tam, Relators, SCOTUS

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Charging Ahead: Top Issues and Opportunities Facing the EV Industry

Electric vehicles (EVs) will make up a significant portion of new light-duty personal vehicles sold over the next decade. Despite recent media coverage depicting EVs as floundering novelties akin to the Bricklin or DeLorean, the…more

Automotive Industry, Charging Stations, Electric Vehicles, Infrastructure, Manufacturers

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EPA Issues ‘Good Neighbor’ Plan Addressing Interstate Transport Obligations

A recent US Environmental Protection Agency final rule seeks to ensure that nearly two dozen states reduce emissions from power plants and other industrial sources that contribute to challenges attaining and maintaining air…more

Air Quality Standards, Carbon Emissions, Clean Air Act, Clean Water Act, Energy Sector

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OIG Approves Consultant’s Provision of Gift Cards to Physician Practices

The US Department of Health and Human Services Office of Inspector General (OIG) published favorable Advisory Opinion No. 23-15 on January 3, which concluded that a consultant’s proposal to provide gift cards to existing…more

Anti-Kickback Statute, Client Referrals, Department of Health and Human Services (HHS), Gift-Cards, Health Care Providers

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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SECURE Act: IRS Sets Amendment Deadline for IRA Providers and Addresses Other IRA Issues

The Internal Revenue Service (IRS) recently released new guidance in IRS Notice 2020-68 to assist owners of individual retirement accounts and annuities (IRAs) and IRA providers implement certain provisions of the Setting Every…more

Employee Benefits, Individual Retirement Account (IRA), IRS, Popular, Retirement Plan

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Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

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C-Pace Financing: Exploring the Benefits and Risks

With real estate market conditions continuing to remain in flux, many developers and operators of real estate have been left searching for new partners and capital providers to finance acquisitions and development. One option…more

Mortgage Lenders, Mortgages, Property Tax, Real Estate Market

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COVID-19: Cares Act Provisions Impacting The Banking Sector

The Coronavirus Aid, Relief, and Economic Security (CARES) Act offers broad-based economic support for companies contending with the disruptions caused by the coronavirus (COVID-19) pandemic…more

CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus, Paycheck Protection Program (PPP)

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Nations Assemble for Revolutionary, First-Ever Nuclear Energy Summit

Leaders from 34 countries met in Brussels, Belgium on March 21 for the first Nuclear Energy Summit. The purpose of the summit was to provide participating governments the opportunity to share their vision and plans for using…more

Electricity, Energy Sector, Nuclear Power, Renewable Energy

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US Supreme Court Holds ‘Pure Omissions’ Not Actionable Under 10(b) of Securities Exchange Act, Resolving Circuit Split

In a blow to the plaintiffs’ securities bar, the US Supreme Court in Macquarie Infrastructure Corp. v. Moab Partners unanimously held that a “pure omission”—the failure to disclose information in the absence of an inaccurate,…more

Disclosure Requirements, Failure To Disclose, Macquarie Infrastructure Corp v Moab Partners LP, Omissions, Rule 10(b)

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DC Mayor Signs Amendments to DC Code on Pay Transparency and Wage History

Washington, DC, Mayor Muriel Bowser signed legislation on January 12 requiring that all covered employers must disclose pay ranges in all job postings and advertisements and also disclose the existence of any additional benefits…more

Employer Liability Issues, Pay Transparency, Salary/Wage History, Wage and Hour

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Boards of Directors Must Continue to Meet Fiduciary Duties During Pandemic

As the coronavirus (COVID-19) pandemic disrupts everyday life throughout the world, boards of directors of corporations working around the clock to understand, address, and mitigate its effects on business operations must direct…more

Business Continuity Plans, Coronavirus/COVID-19, Corporate Governance, Duty of Care, Duty of Loyalty

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DOJ Emphasizes Importance of Antitrust Compliance Programs for HR Professionals

The US Department of Justice’s Antitrust Division recently stated that antitrust compliance programs must include training for human resources professionals on issues such as wage-fixing and no-poach agreements in order to be…more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Competition, Department of Justice (DOJ)

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New EPA Guidance Cuts Prior Residential Soil Lead Levels in Half

The US Environmental Protection Agency (EPA) recently lowered the recommended regional screening level (RSL) and regional removal management level (RML) for lead-contaminated soil in areas where children live and play from 400…more

CERCLA, Clean Air Act, Contamination, Environmental Protection Agency (EPA), RCRA

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Proxies, Pay, and the Brave New World of ESG

Environmental, social, and governance (ESG) matters are now the subject of significantly greater regulatory scrutiny and are becoming a more prominent part of public companies’ mandatory filings, shareholder proposals, and…more

Annual Meeting, Climate Change, Corporate Governance, Corporate Social Responsibility, Environmental Social & Governance (ESG)

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Smoother Sailing to 30 GW by 2030: Proposed Enhancements to Offshore Wind Permitting Process

Leaders across the United States are prioritizing offshore wind development as an essential component of any strategy to address climate change, since the ocean is one of the few available areas that can provide enough renewable…more

BOEM, Clean Energy, Energy Projects, Energy Sector, Offshore Lease

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Federal Circuit Defines Commercial Sale For ‘On-Sale’ Bar

Unanimous en banc Federal Circuit holds that on-sale bar only applies where a commercial sale “bears the general hallmarks of a sale.” On July 11, in a unanimous en banc ruling, the full US Court of Appeals for the Federal…more

Medco Health Solutions, On-Sale Bar, Patent Applications, Patents, Uniform Commercial Code (UCC)

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Metaverse: A Jumpstart Guide to Intellectual Property, Antitrust, and International Considerations

The term “metaverse” first appeared in Neal Stephenson’s dystopian novel Snow Crash in 1992. Two decades later, the metaverse has evolved from a concept in print into an interactive and immersive reality. Its hyper-realistic…more

Corporate Branding, Cryptocurrency, Digital Assets, Intellectual Property Protection, Metaverse

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Names Rule Amendments Will Require Changes For Certain Funds

On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping…more

Amended Rules, Investment Companies, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

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Impact of New Tax Regulations on Intercompany Debt Obligations

The final, temporary, and proposed regulations issued by the Internal Revenue Service on October 13 relating to intercompany debt obligations between members of an affiliated group of corporations under Section 385 of the…more

Collateralized Debt Obligations, Corporate Counsel, Foreign Corporations, Intercompany Transactions, Internal Revenue Code (IRC)

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OSHA Issues Final ‘Walkaround Rule’ Giving Unions and Other Third Parties Access to Private Employer Worksites

A new rule from the US Occupational Safety and Health Administration (OSHA) affords unions, labor activists, and other third parties access to private worksites during workplace inspections…more

Employer Liability Issues, OSHA, Safety Inspections, Union Representatives, Unions

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Mobilizing for Equality: 2021 Annual Report

The murder of George Floyd in May 2020 ignited a long-overdue global movement for racial justice, with communities across the United States and around the world unifying to demand change. In the immediate aftermath of the…more

Diversity and Inclusion Standards (D&I), Law Enforcement, Police, Police Brutality, Police Misconduct

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UK Sovereign Immunity from Direct Taxation

Sovereign immunity is a principle of public international law whereby one sovereign state should not seek to apply its law to another sovereign state. Alongside the jurisdictional immunity foreign sovereigns enjoy in the United…more

Capital Gains Tax, Corporate Taxes, Foreign Sovereigns, Income Taxes, Sovereign Immunity

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US Supreme Court Bars Claims Involving Defined Benefit Plan Investments

In a 5-4 decision in Thole v. U.S. Bank N.A., the US Supreme Court has ruled that defined benefit plan participants lack Article III standing to sue for fiduciary breaches that do not harm the individual participants. As the…more

Article III, Breach of Duty, Defined Benefit Plans, Duty of Loyalty, Duty of Prudence

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2023 Tech & Sourcing Summit: A Summary

On October 25, the Morgan Lewis technology transactions, outsourcing, and commercial contracts team filled a room in New York with representatives from various industries who were looking to engage in interactive discussions…more

Artificial Intelligence, Automation Systems, Outsourcing, Technology Sector

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Plaintiffs’ Firms Extracting Fees Based on Newly Invalidated Advance Notice Bylaw Provisions

In Kellner v. AIM ImmunoTech, the Delaware Court of Chancery held that certain advance notice bylaw provisions were invalid. While the decision engages in a fact-specific analysis of many aspects of AIM ImmunoTech’s advance…more

Bylaws, Fees, Publicly-Traded Companies, Shareholders

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Top Questions for Retailers in the United Kingdom Amid COVID-19

Key questions and issues facing the UK retail sector, an industry that has been acutely impacted by the coronavirus (COVID-19) pandemic, include mitigation strategies, reopening in line with government guidance, and future…more

Commercial Leases, Commercial Tenants, Coronavirus/COVID-19, Furloughs, Infectious Diseases

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Update: Amendments to San Francisco Retail Workers Bill of Rights Take Effect

Less than one week after the San Francisco Retail Workers Bill of Rights became effective, it was amended in several ways that impact employers’ compliance obligations going forward…more

Collective Bargaining, Exemptions, Local Ordinance, Part-Time Employees, Retail Workers

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DOJ Emphasizes Importance of Antitrust Compliance Programs for HR Professionals

The US Department of Justice’s Antitrust Division recently stated that antitrust compliance programs must include training for human resources professionals on issues such as wage-fixing and no-poach agreements in order to be…more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Competition, Department of Justice (DOJ)

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Cracking AI and Outsourcing Conundrums (Part 2): Enhanced Quality Checks vs. Savings Commitments

In Part 1 of our Cracking AI and Outsourcing Conundrums series, we discussed at a high level the challenges of requiring outsourcing providers to drive generative AI (GenAI) innovation while at the same time complying with…more

Artificial Intelligence, Innovative Technology, Machine Learning, Outsourcing, Technology Sector

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COVID-19 Relief for Small Businesses – Existing Options (UPDATED)

Small businesses are among the hardest hit by the coronavirus (COVID-19) crisis and the shocks to consumer demand and supply resulting from the ensuing government orders to stay at home and close nonessential businesses. In…more

CARES Act, Coronavirus/COVID-19, Economic Injury Disaster Loans, Relief Measures, SBA

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FTC Settles Consumer Review Charges against Fashion Nova and Signals More Action to Come - Retail Did You Know?

The US Federal Trade Commission (FTC) has settled charges brought against Fashion Nova, LLC (Fashion Nova) under Section 5(a) of the FTC Act for failure to publish negative product reviews on its website. This edition of Morgan…more

Federal Trade Commission (FTC), FTC Act, Marketing, Online Reviews, Section 5

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Reopening Considerations for Latin America in the Time of COVID-19

As Latin America continues to manage the adverse economic effects resulting from the coronavirus (COVID-19) pandemic and prepares for what lies ahead, there are certain post-shutdown processes and regulatory requirements to keep…more

Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities, International Labor Laws, Latin America

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DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting…more

Artificial Intelligence, Department of Justice (DOJ), Fraud, Securities and Exchange Commission (SEC), Self-Disclosure Requirements

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California’s Revised Prescription Drug Price Transparency Regulations Effective April 1

Effective April 1, 2024, California will expand its existing prescription drug price transparency requirements by enacting legislation to amend and clarify requirements on wholesale acquisition cost increase reporting and notice…more

Drug Pricing, Manufacturers, Pharmaceutical Industry, Prescription Drugs, Transparency

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The Name Game: SEC Proposes Expanding Scope of Registered Funds’ ‘Names Rule’

In a 3-1 vote, the US Securities and Exchange Commission on May 25 proposed amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Names Rule) that, if adopted as proposed, could cause new entrants and existing…more

Comment Period, Environmental Social & Governance (ESG), Investment Company Act of 1940, Proposed Amendments, Public Comment

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IRS Announces Increased Gift and Estate Tax Exemption Amounts for 2024

The US Internal Revenue Service has announced that the annual gift tax exclusion is increasing in 2024 due to inflation. The exclusion will be $18,000 per recipient for 2024—the highest exclusion amount ever…more

Estate Planning, Estate Tax, Estate-Tax Exemption, Gift Tax, Gift-Tax Exemption

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Baltimore Bridge Collapse: Key Insurance Considerations for Impacted Businesses

The catastrophic collapse of the Baltimore Francis Scott Key Bridge resulted in the tragic loss of life, severed part of Interstate 695, and shut down one of the busiest ports in the United States. The disaster could become one…more

Business Interruption, Commercial General Liability Policies, Insurance Industry, Liability Insurance, Policy Terms

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A Look at the SPAC Market in 2022

A Special Purpose Acquisition Company (SPAC) is a blank-check company formed for the purpose of effecting a business combination with one or more businesses. While SPACs are not new, they have recently increased in prevalence…more

Acquisitions, Capital Markets, Initial Public Offering (IPO), Listing Rules, Mergers

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Rounding Employee Time in California—Even Via Neutral Policy—Creates Risk Under New Appellate Decision

Although prior California decisions have approved neutral rounding systems, Camp v. Home Depot U.S.A., Inc. questions that law when an employer can track employee clock times to the minute. Therefore, employers in California…more

CA Supreme Court, Employer Liability Issues, Employment Litigation, State Labor Laws, Timekeeping

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New York State: Healthcare Entities Must Disclose Certain Material Transactions

As part of the New York State budget for fiscal year 2023–2024, the New York State Assembly amended the New York Public Health Law to impose new notification requirements related to material transactions involving physician…more

Confidential Information, Disclosure Requirements, Health Care Providers, New Legislation, New York

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New Modifications to the Proposition 65 Regulations

The modifications significantly change both the AG’s Regulations and OEHHA’s Clear and Reasonable Warnings provisions. California’s Office of Administrative Law recently approved important changes to two sets of Proposition 65…more

Amended Regulation, Manufacturers, OEHHA, Proposition 65, Retailers

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Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government…more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

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Taking Advantage of the New Purple Book Patent Requirements for Biologics

New federal legislation will take effect this year that will require a reference product sponsor to submit to the FDA a list of any patents identified to a biosimilar applicant during the patent dance. The FDA is required to…more

Biologics, Biosimilars, Food and Drug Administration (FDA), Intellectual Property Protection, IP License

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Legal Lessons Learned from Recent World Cups

The 2022 Men’s World Cup in Qatar and the 2023 Women’s World Cup in Australia and New Zealand set new standards for sustainability, human rights, and sponsorships—and with those new standards come new challenges…more

CFTC, Employee Rights, Greenhouse Gas Emissions, OSHA, Workplace Safety

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

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The House Democrats’ Tax Plan – The Time for Estate Planning Is Now

The Democrats of the House of Representatives have released a much-anticipated tax plan that would significantly impact the federal estate and gift tax system. Importantly, the House could still amend this legislation and the…more

Biden Administration, Closely Held Businesses, Estate Planning, Estate Tax, Generation-Skipping Transfer

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New NLRB Rules Favor Mandatory Union Recognition & Limit Employee Voting in Secret-Ballot Elections

The National Labor Relations Board drastically changed the process for unions seeking recognition of most private sector employees in the United States. Abandoning 50 years of established law, in Cemex Construction Materials…more

Employer Liability Issues, NLRB, NLRB General Counsel, Unfair Labor Practices, Union Organizers

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Supreme Court Provides One Answer about SEC Administrative Law Judges, but Leaves Many Questions

On June 21, in Lucia v. Securities and Exchange Commission, the US Supreme Court held that administrative law judges of the US Securities and Exchange Commission are not mere federal employees but qualify as “Officers of the…more

Administrative Agencies, Administrative Law Judge (ALJ), Administrative Proceedings, Appeals, Appointments Clause

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Responding to the 2019 Novel Coronavirus: Guidance for Multinational Employers in Hong Kong

With the situation surrounding the 2019 Novel Coronavirus (COVID-19) rapidly changing, multinational companies with operations in Hong Kong should be aware of how to handle challenging employment issues during this time…more

Best Practices, China, Coronavirus/COVID-19, Emergency Management Plans, Employer Liability Issues

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Alabama Supreme Court Ruling on Frozen Embryos Raises Complex Questions for IVF and Fertility Industry

The Alabama Supreme Court recently ruled that frozen embryos, or “extrauterine children,” should be afforded the same legal protections as living children under a state wrongful death law…more

AL Supreme Court, Fertility Treatments, Human Embryos, Life Sciences, Reproductive Healthcare Issues

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US Supreme Court: Highly Compensated Employees Entitled to Overtime Unless FLSA Exemption Requirements Satisfied

In Helix Energy Solutions Group Inc. v. Hewitt, the US Supreme Court held (on the facts of that case) that an employer had improperly classified a supervisory employee earning more than $200,000 per year as an exempt “executive”…more

Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Helix Energy Solutions Group Inc v Hewitt No 21-984, Highly Compensated Employees

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State Attorneys General Fly into Previously Federal Airspace

The Department of Transportation and 18 states on April 16 agreed to a Memorandum of Understanding (MOU) that delegates more authority to and streamlines the process for state attorneys general to investigate consumer complaints…more

Airlines, Aviation Industry, Department of Transportation (DOT), Memorandum of Understanding, State Attorneys General

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2024 Proxy Season: The Importance of Evaluating DEI, ESG, and Corporate Social Responsibility Disclosures

In preparing for both the 2024 proxy season and publication of inaugural or refreshed corporate social responsibility or sustainability reports, as well as in anticipation of final climate disclosure rules from the SEC as of…more

Board of Directors, Corporate Governance, Diversity, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG)

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A Midyear Update on the Sports Industry

The sports industry was among the first to navigate the resumption of some sense of regular play amid the pandemic, but it was far from normal. That wasn’t necessarily a bad thing…more

Arenas and Stadiums, Black Lives Matter, Business Interruption, Business Model, Contact Tracing

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DOJ Deputy Attorney General Pledges New Approach to Corporate Crime

Deputy Attorney General Lisa Monaco described important changes to the Department of Justice’s corporate criminal enforcement policies during her October 28, 2021 keynote address to the ABA’s 36th National Institute on White…more

Corporate Crimes, Criminal Investigations, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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UK Government Announces Funding for Innovative Companies, New COVID-19 Future Fund

The UK government has announced two new schemes for funding to innovative companies and startups, launching in May 2020…more

Business Formation, Coronavirus/COVID-19, Funding, Small Business, Startups

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New York Expands False Claims Act Tax Liability for Non-Filers

New York Governor Kathy Hochul recently signed into law new legislation expanding the reach of the New York False Claims Act (NYFCA) to entities that fail to file tax returns in New York. Unlike the federal False Claims Act…more

False Claims Act (FCA), New York, Qui Tam, State Taxes, Tax Fraud

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Rhode Island Legalizes Recreational Marijuana and Protects Off-Duty Use for Employees

Rhode Island Governor Dan McKee signed a bill on May 25 legalizing recreational marijuana in the state. The law, which took effect immediately, prohibits basing adverse employment actions on off-duty marijuana use, unless…more

Decriminalization of Marijuana, Employee Rights, Marijuana, Off-Duty Employees, Recreational Use

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Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

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Providers: Are You Prepared for Broadband Label Requirements?

The Federal Communications Commission’s (FCC’s) broadband label requirements take effect as soon as April 10, 2024, but preparation to meet this deadline—including extensive documentation and information technology…more

Broadband, FCC, Labeling, Telecommunications

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Delaware Court of Chancery Agrees with SLC, Dismisses $1 Billion Suit Against Carvana

In the case of Carvana Co. Stockholders Litigation, the Delaware Court of Chancery followed the special litigation committee’s (SLC’s) recommendation and dismissed a stockholder complaint alleging that the company’s controlling…more

Breach of Duty, Controlling Stockholders, Corporate Counsel, Fiduciary Duty, Securities Exchange Act of 1934

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FTC Sues Private Equity Firm Over Alleged Anticompetitive Scheme Involving Roll-up Acquisitions

The US Federal Trade Commission is suing US Anesthesia Partners Inc. and its private equity founder for allegedly enacting an anticompetitive scheme to gain market power through a series of roll-up acquisitions…more

Anti-Competitive, Antitrust Provisions, Competition, Federal Trade Commission (FTC), Private Equity Firms

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Spotting and Mitigating Anticorruption Risk Ahead of 2026 World Cup

History is rife with examples of corruption associated with major sporting events like the World Cup, which capture the attention of spectators and viewers around the globe. These events offer the chance for businesses and…more

Anti-Corruption, Bribery, Corruption, Financial Crimes, World Cup

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Recent Crackdown on Junk Fees: Federal, State, and Private Actions

What Are Junk Fees? “Junk fees” refer to the broad swath of fees and charges, often mandatory, that are not included in the initial offered price of a good or service. Common examples include mandatory fees charged by hotels,…more

Federal Trade Commission (FTC), Fees, Hidden Fees, Proposed Rules, Unfair or Deceptive Trade Practices

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Evolving Regulatory Landscape for Connected Vehicles: Balancing Innovation with National Security

The US Department of Commerce’s Bureau of Industry and Security (BIS) took a potentially important step toward shaping the future of connected vehicles (CVs) by issuing an advance notice of proposed rulemaking (ANPRM) on…more

Automotive Industry, Connected Cars, Electric Vehicles, Manufacturers, National Security

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COVID-19 Business Interruption Losses: The Potential Keys to Unlocking Insurance Recovery

As the coronavirus (COVID-19) pandemic evolves, governmental executive and legislative authorities are taking actions in the form of emergency declarations and proposed legislation that could improve a company’s ability to…more

Business Disruption, Business Interruption, Business Losses, Civil Authority Coverage, Coronavirus/COVID-19

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Environmental, Social, and Governance Investing: A Bridge to Shari’a-Compliant Investments in the GCC?

It has been reported that some asset managers in the Gulf Cooperation Council (GCC) expect stronger inflows amid growing demand for environmental, social, and governance (ESG) and Islamic-compliant investments. The rise in the…more

Environmental Social & Governance (ESG), Foreign Investment, Gulf Cooperation Council (GCC), Islamic-Compliant, Sustainability

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The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

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Luxembourg’s Financial Services Regulator Enhances ICT Incident Reporting Framework

New ICT incident reporting requirements under Circular 24/847 (Circular) of the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s financial regulator, will come into effect on April 1. This introduces a new…more

CSSF, Financial Institutions, Investment Firms, Investment Funds, Luxembourg

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SPACs: Financial Conduct Authority Consults on Changes to UK Listing Regime

Key proposed changes to the UK listing regime include the removal of the presumption of suspension in trading in a SPAC’s shares when it announces a potential acquisition, subject to certain qualifying criteria being met…more

Capital Markets, Capital Raising, Initial Public Offering (IPO), Investment, Listing Rules

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DOJ Antitrust Division Brings First Criminal Wage-Fixing Case: Continuing Enforcement on Labor Market Issues

A federal grand jury in Texas indicted the owner of a therapist staffing company on wage-fixing charges on December 9. Although this is the US Department of Justice’s first criminal wage-fixing prosecution, the indictment…more

Anti-Competitive, Antitrust Violations, Corporate Counsel, Criminal Investigations, Department of Justice (DOJ)

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Collective Proceedings: Who Gets Carriage? UK Competition Appeal Tribunal Decides

The UK Competition Appeal Tribunal (CAT) recently issued its first-ever precertification ruling addressing a “carriage dispute” in the cases Hunter v. Amazon.com and Hammond v. Amazon.com. A carriage dispute arises where there…more

Abuse of Dominance, Amazon Marketplace, Competition, UK, UK Competition Appeal Tribunal (CAT)

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Update: UK Finalizes Export Ban on Luxury Goods to Russia

The United Kingdom has finalized its ban on the delivery, sale, transit, and export of luxury goods to Russia, focusing on items that will impact Russian oligarchs and other members of the Russian elite…more

Belarus, Economic Sanctions, Export Controls, Exports, Luxury Goods

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The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private…more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

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FSA Responds to Public Comments on Its ESG Public Fund Guidelines

The Financial Services Agency of Japan (FSA) published its responses to public comments on the draft version of new guidelines on environmental, social, and governance (ESG) public funds on March 31. This LawFlash discusses…more

Environmental Social & Governance (ESG), Financial Services Agency, Financial Services Industry, Japan, Public Funds

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ITC Rescinds Seizure & Forfeiture Order after CIT Determines Redesign Does Not Infringe

A recent decision by the International Trade Commission (ITC) to temporarily rescind a seizure and forfeiture order after the Court of International Trade (CIT) granted summary judgment of non-infringement for certain redesigned…more

Asset Seizure, Court of International Trade, Customs and Border Protection, Enforcement Authority, Exclusion Orders

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USPTO Critical Guidance on 35 Usc § 112(F): Implications for Patent Applicants and Practitioners

The US Patent and Trademark Office (USPTO) this week issued a memorandum related to guidelines for examining patent claims with means-plus-function and step-plus-function limitations under 35 USC § 112(f). The memorandum…more

Intellectual Property Protection, Patent Applications, Patent Infringement, Patents, USPTO

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected…more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

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SEC Proposes Sweeping Rules on Broker-Dealer and Investment Adviser Technology Use

The US Securities and Exchange Commission (SEC) proposed on July 26, 2023 new rules designed to address conflicts of interest from the use of predictive data analytics in “investor interactions” by broker-dealers and investment…more

Broker-Dealer, Investment Adviser, Investment Advisers Act of 1940, Proposed Rules, Securities and Exchange Commission (SEC)

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Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair…more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

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Amendments to 2017 Puerto Rico Labor Reform Annulled

Puerto Rico Act No. 41-2022 (Act 41), which amended and repealed certain more employer-friendly sections of the 2017 Labor Reform, was declared void by a federal judge on March 3, 2022. The decision renders Act 41, and any…more

Employer Liability Issues, Employment Policies, Human Resources Professionals, Labor Reform, Puerto Rico

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Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

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NLRB Issues New Joint Employer Rule Affirming Expansive Joint Employer Status

The NLRB recently published its final rule on the standard for determining joint employer status, broadening the circumstances under which separate businesses can be considered joint employers—thereby making them obligated to…more

Employer Liability Issues, Franchisee, Franchisors, Joint Employers, NLRB

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Constitutional Challenges to State Actions in Response to COVID-19

State government actions in response to the coronavirus (COVID-19) pandemic—from closing businesses and limiting travel to lifting those restrictions—raise potential constitutional questions. Federal lawsuits challenging the…more

Business Closures, Commerce Clause, Constitutional Challenges, Coronavirus/COVID-19, First Amendment

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Ninth Circuit Considers Whether False Claims Act Applies to Customs Violations

In a recent development in Island Industries, Inc. v. Sigma Corp.—a nonintervened False Claims Act (FCA) qui tam action based on an alleged failure to pay antidumping duties—the Ninth Circuit, post–oral argument, ordered…more

Anti-Dumping Duty, Court of International Trade, False Claims Act (FCA), Qui Tam

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Final Treasury Regulations Published on Transition from IBORs to Qualified Rates

The Internal Revenue Service and the US Treasury Department have issued final regulations providing rules for taxpayers transitioning from interbank offered rates to qualified rates. These regulations provide financial…more

Banking Sector, FATCA, Final Rules, Financial Conduct Authority (FCA), Financial Institutions

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Mitigating Energy Sector Risks Through Cyberinsurance

Energy companies in the power and oil and gas sectors are leading targets of cyberattacks, as threats to critical infrastructure systems continue to rise. A 2021 report by a third-party cyberrisk company found that a quarter of…more

Business Interruption, Commercial General Liability Policies, Critical Infrastructure Sectors, Cyber Attacks, Cyber Insurance

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Navigating The Global Data Privacy Landscape: What Multinational Corporations Should Consider When Doing Business

The ever-evolving data privacy landscape continues to become more complex as new developments play out on the global stage. In the United States, a number of individual state laws have come into force, with more following in…more

Cybersecurity, Data Breach, Data Privacy, Data Protection, Data Security

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US Offshore Wind Roundup as of March 2023

Despite global economic headwinds, the US offshore wind industry has continued to slowly but steadily blossom, driven largely by enhanced vision and cooperation among federal government agencies under the Biden administration,…more

Biden Administration, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Offshore Wind

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MAS Introduces Further Investor Protection Measures for Digital Payment Token Service Providers

The Monetary Authority of Singapore recently published the second part of its response to the consultation paper proposing regulatory measures for providers of digital payment token services under the Payment Services Act 2019…more

Conflicts of Interest, Disclosure Requirements, Financial Services Industry, Monetary Authority of Singapore, Singapore

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

Singapore Personal Data Protection Act Changes Have Implications for Healthcare Sector

Key amendments to the Singapore Personal Data Protection Act take into account technological advances, new business models, and global developments in data protection legislation, and will have an effect on healthcare providers…more

Cybersecurity, Data Breach, Data Privacy, Data Protection, Data Security

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Monetary Authority of Singapore Set to Repeal Registered Fund Management Companies Regime

The Monetary Authority of Singapore (MAS) intends to repeal the Registered Fund Management Companies (RFMCs) regime to streamline fund management regulations. Ahead of this substantial change, the MAS has launched a public…more

Fund Managers, Investors, Monetary Authority of Singapore, Singapore

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California’s Regional Stay-at-Home Order Takes Effect December 5

Governor Gavin Newsom announced a regional stay-at-home order on December 3 in response to the unprecedented surge of coronavirus (COVID-19) cases in California. The order, which takes effect December 5, is triggered for any…more

Business Closures, California, Coronavirus/COVID-19, Critical Infrastructure Sectors, Emergency Management Plans

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Spending Bill Revives Paycheck Protection Program for US Small Businesses

The US Congress has passed a spending bill that includes $285 billion to extend and expand the Paycheck Protection Program, providing new first-time loans and adding second-draw loans to help support small businesses…more

CARES Act, Consolidated Appropriations Act (CAA), Coronavirus/COVID-19, Infectious Diseases, Loan Forgiveness

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California Supreme Court: Trial Courts Lack Authority to Strike or Dismiss PAGA Claims on Manageability Grounds

In Estrada v. Royalty Carpet Mills Inc., a unanimous decision by the California Supreme Court resolves a split between California courts of appeal by ruling that a trial court does not have inherent authority to strike PAGA…more

CA Supreme Court, Class Action, Employer Liability Issues, Employment Litigation, Labor Code

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

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State Consumer Privacy Laws: New Privacy Laws in Texas, Oregon, and Montana Take Effect in 2024

Beginning July 1, 2024, Texas and Oregon will join the growing list of states with active consumer privacy laws, with Montana joining them on October 1. The new laws are similar to existing state data privacy laws in that they…more

Consumer Privacy Rights, Cybersecurity, Data Privacy, Data Protection, Data Security

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Inflation Reduction Act Creates New Corporate Minimum Tax

The Inflation Reduction Act of 2022, signed by US President Joseph Biden on August 16, 2022, includes a new alternative minimum tax for corporations with profits of more than $1 billion…more

Alternative Minimum Tax, Corporate Taxes, Foreign Tax Credits, Inflation Reduction Act (IRA), International Tax Issues

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Names Rule Amendments Will Require Changes For Certain Funds

On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping…more

Amended Rules, Investment Companies, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

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California Law Will Obligate VC Firms to Report Portfolio Company Diversity Metrics

California Governor Gavin Newsom recently signed Senate Bill 54, which aims to increase diversity among founders that are backed by venture capital (VC) companies. If implemented in its current version, SB 54 will likely apply…more

California, Governor Newsom, Investors, Startups, Venture Capital

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New Jersey's WARN Act Amended to Provide Relief to Employers Conducting Mass Layoffs

Governor Phil Murphy signed a suite of new laws on April 14 in response to the coronavirus (COVID-19) pandemic, including an amendment to New Jersey’s WARN Act providing relief to employers that conduct mass layoffs as a result…more

Coronavirus/COVID-19, Employer Liability Issues, Hiring & Firing, Layoff Notices, Layoffs

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GAO Finds Significant Gaps in Current Information Collection Process for Non-US Ownership of US Agricultural Land

The Government Accountability Office (GAO) has issued its report on the national security implications of how the US government collects, shares, and considers foreign purchases and ownership of US agricultural land. It…more

Agricultural Land, CFIUS, Foreign Investment, GAO, National Security

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SEC and CFTC Adopt Amendments to Form PF

On February 8, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC and, together with the SEC, the Commissions) voted to adopt amendments to Form PF1 that will impact the required…more

CFTC, Form PF, Investment Adviser, Investors, Private Equity

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Ninth Circuit Finds Time Booting Up Computers May Be Compensable for Call Center Workers

The US Court of Appeals for the Ninth Circuit (which covers California, Nevada, Arizona, Alaska, Hawaii, Idaho, Montana, Oregon, and Washington) held on October 24 in a unanimous published opinion that because call center…more

Employer Liability Issues, Essential Functions, Fair Labor Standards Act (FLSA), Job Duties, Labor Regulations

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Employers: How Prepared Are You for Ebola?

Rapidly changing circumstances raise workplace questions. The Ebola epidemic in 2014 has already been confirmed by the U.S. Centers for Disease Control (CDC) as the worst in history. The extent of this outbreak is still…more

Best Management Practices, Centers for Disease Control and Prevention (CDC), Disaster Preparedness, Ebola, Health Insurance Portability and Accountability Act (HIPAA)

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Proposed H-1B Modernization – A Conversation with Shannon Donnelly

As part of our Spotlight series, we invited Shannon Donnelly, a partner in our Washington, DC office who works with clients on a wide range of complex global immigration and mobility issues, to discuss the proposed H1B…more

Foreign Nationals, Foreign Workers, H-1B, Immigrants, Immigration Procedures

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US Supreme Court Holds ‘Pure Omissions’ Not Actionable Under 10(b) of Securities Exchange Act, Resolving Circuit Split

In a blow to the plaintiffs’ securities bar, the US Supreme Court in Macquarie Infrastructure Corp. v. Moab Partners unanimously held that a “pure omission”—the failure to disclose information in the absence of an inaccurate,…more

Disclosure Requirements, Failure To Disclose, Macquarie Infrastructure Corp v Moab Partners LP, Omissions, Rule 10(b)

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LinkedIn v. hiQ: Landmark Data Scraping Suit Provides Guidance to Data Scrapers and Web Operators

Following up on our April 27, 2022 post, Data Scraping Deemed Legal in Certain Circumstances, the most significant data scraping lawsuit has finally come to an end. After six years of litigation, LinkedIn Corp. and hiQ Labs,…more

Breach of Contract, Common Law Torts, Computer Fraud and Abuse Act (CFAA), Corporate Counsel, Estoppel

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Baltimore Bridge Collapse: Key Insurance Considerations for Impacted Businesses

The catastrophic collapse of the Baltimore Francis Scott Key Bridge resulted in the tragic loss of life, severed part of Interstate 695, and shut down one of the busiest ports in the United States. The disaster could become one…more

Business Interruption, Commercial General Liability Policies, Insurance Industry, Liability Insurance, Policy Terms

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

See all updates »

Legal Lessons Learned from Recent World Cups

The 2022 Men’s World Cup in Qatar and the 2023 Women’s World Cup in Australia and New Zealand set new standards for sustainability, human rights, and sponsorships—and with those new standards come new challenges…more

CFTC, Employee Rights, Greenhouse Gas Emissions, OSHA, Workplace Safety

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USPTO Provides Guidance for Design Patent Applications Directed to Computer-Generated Electronic Images

The US Patent and Trademark Office (USPTO) published supplemental guidance on whether a design claim including a computer-generated electronic image is directed to statutory subject matter. While the USPTO’s examination of…more

Design Patent, Patent Applications, Patents, USPTO

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Recommending 529 Plans: Meeting Reg. BI’s Care Obligation

529 Plans are state-sponsored investment programs that facilitate savings for qualified education expenses, including tuition, fees, room and board, and other education-related expenses. Unlike retirement accounts that penalize…more

529 Plans, Income Taxes, Regulation Best Interest, Regulation BI, Securities and Exchange Commission (SEC)

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USPTO Clarifies and Expands Small Entity Status Exceptions

The US Patent and Trademark Office (USPTO) announced on December 4 a rule change to clarify and expand exceptions to small entity status, which primarily affects the fees that the USPTO charges patent applicants…more

Business Entities, Intellectual Property Protection, Investors, Patent Applications, Patents

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Alabama Supreme Court Ruling on Frozen Embryos Raises Complex Questions for IVF and Fertility Industry

The Alabama Supreme Court recently ruled that frozen embryos, or “extrauterine children,” should be afforded the same legal protections as living children under a state wrongful death law…more

AL Supreme Court, Fertility Treatments, Human Embryos, Life Sciences, Reproductive Healthcare Issues

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Sovereign Wealth Funds and the FCPA: The Importance of Targeted Due Diligence

Given the global nature of sovereign wealth funds’ (SWFs’) investments and operations, it is essential that SWFs are aware of and in compliance with the Foreign Corrupt Practices Act (FCPA) in order to facilitate business with…more

American Depository Receipts (ADRs), Department of Justice (DOJ), Enforcement Actions, Foreign Corrupt Practices Act (FCPA), Sovereign Wealth Funds

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Navigating Remote Work and Vaccine Mandates in Latin America: A Road Map for the Region

Faithful to the historically employee-friendly nature of laws and courts in the region, most regulators in Latin America are adopting policies to protect remote workers and their constitutional rights to make unpressured…more

Coronavirus/COVID-19, Employer Liability Issues, Employer Mandates, Employment Policies, Remote Working

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US Supreme Court Adopts Narrow Reading of TCPA’s Autodialer Ban: Four Things to Know

The US Supreme Court in Facebook, Inc. v. Duguid unanimously held on April 1 that the Telephone Consumer Protection Act’s definition of an autodialer is limited to systems that have the capacity either to store a telephone…more

ATDS, Auto-Dialed Calls, Corporate Counsel, Facebook, Facebook Inc v Duguid

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Forging a United Front: UK Regulators Take Steps to Combat Greenwashing

UK regulators have recently been taking aim at environmental, social and governance (ESG) issues, namely ways to approach “greenwashing,” practices where false, misleading, overstated or unsubstantiated environmental material is…more

Environmental Social & Governance (ESG), Financial Conduct Authority (FCA), Greenwashing, Sustainability, UK

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FTC Votes to Rescind Vertical Merger Guidelines, No Replacement Announced

The US Federal Trade Commission (FTC) recently voted to withdraw its approval of the Vertical Merger Guidelines (the 2020 VMGs), which, as we covered in the past, the FTC and Department of Justice (DOJ) issued over a year ago on…more

Antitrust Provisions, Competition, Department of Justice (DOJ), Federal Trade Commission (FTC), Merger Controls

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Ninth Circuit Holds That Social Media Posts Can Give Rise to Securities Act Liability

The US Court of Appeals for the Ninth Circuit recently held that a person who makes social media posts promoting securities—motivated at least in part by their own financial interests or those of the securities’ owner—is…more

Corporate Issuers, Disclosure Requirements, Public Offerings, Securities Act of 1933, Securities and Exchange Commission (SEC)

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COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for…more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

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Courts Issue Three Significant DEI Decisions

Last week, three federal courts issued significant decisions impacting the diversity, equity, and inclusion (DEI) legal landscape. Together, the cases demonstrate the rapidly evolving state of the law with respect to DEI…more

Diversity, Diversity and Inclusion Standards (D&I), Employee Training, Employer Liability Issues, Stop Woke Act

See all updates »

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

See all updates »

PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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Investment Opportunities and Historical Risks in the EV Charging Market

Electric vehicle (EV) charging has historically been viewed as a high-risk investment, primarily because of demand uncertainty. But recent federal incentives to encourage the EV market and more widespread adoption of EVs from a…more

Automotive Industry, Charging Stations, Electric Vehicles, Infrastructure, Investment Opportunities

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Responding to Requests to Delete - Morgan Lewis Practical Advice on Privacy: Guide to the CCPA

The recently proposed regulations implementing the California Consumer Privacy Act (CCPA) “establish procedures to facilitate consumers’ new rights under the CCPA and provide guidance to businesses for how to comply.” This…more

California Consumer Privacy Act (CCPA), Consumer Privacy Rights, Cybersecurity, Data Collection, Data Privacy

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California Will Move Beyond the Blueprint for a Safer Economy, Effective June 15, 2021

The California Department of Public Health (CDPH) announced the state will move beyond the Blueprint for a Safer Economy, allowing businesses to return to usual operations (with limited exceptions for Mega Events), effective…more

Cal-OSHA, Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Public Health, Re-Opening Guidelines

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Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true…more

Investment, Investors, Japan, Limited Partnerships, Partnerships

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Updated Guide to the 2020 Term Asset-backed Securities Loan Facility (TALF) Program (UPDATED)

The US Treasury Department and the Federal Reserve Bank of New York (the New York Fed) have announced the complete terms of a new Term Asset-Backed Securities Loan Facility (TALF) program, which is intended to address the…more

Asset-Backed Securities, Borrowers, CARES Act, Collateral, Collateralized Loan Obligations

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FTC Settlements Provide Updated Guidance on Collection or Use of Geolocation Data

The Federal Trade Commission (FTC) recently reached two settlements in actions against data brokers concerning their use of consumer location data and banning them from collecting, using, or selling consumer location data…more

Data Brokers, Data Collection, Federal Trade Commission (FTC), FTC Act, Geolocation

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US Department of Labor Publishes Its Independent Contractor Final Rule

The US Department of Labor (DOL) published on January 10, 2024 its long-awaited Final Rule regarding independent contractor classification under the Fair Labor Standards Act (FLSA), signaling a return to its pre-2021…more

Department of Labor (DOL), Economic Realities Test, Employee Definition, Employer Liability Issues, Fair Labor Standards Act (FLSA)

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Massachusetts High Court Issues Three Major Wage and Hour Decisions

The Massachusetts Supreme Judicial Court recently issued three decisions with significant implications for employers in the commonwealth, holding that (1) when an employer pays wages to an employee after the deadlines provided…more

ABC Test, Employer Liability Issues, Fair Labor Standards Act (FLSA), Federal Trade Commission (FTC), Franchises

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Second Circuit Confirms ‘Willfulness’ Standard for Scienter Has Teeth Under the Anti-Kickback Statute and False Claims Act

In a new decision that could have a significant impact on the persistent efforts of relators to reach otherwise lawful conduct and characterize it as a violation of the Anti-Kickback Statute (AKS), the US Court of Appeals for…more

Anti-Kickback Statute, False Claims Act (FCA), Health Care Providers, Healthcare Fraud, Medicare

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False Claims Act: Defense-related Enforcement in Fy 2023 and on the Horizon

The headlines from the US Department of Justice’s (DOJ’s) recently released fiscal year 2023 civil fraud statistics may, on the surface, seem unremarkable. Indeed, the $2.7 billion topline number—reflecting total recoveries from…more

Department of Defense (DOD), Department of Justice (DOJ), False Claims Act (FCA), Federal Contractors

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Gender Equality at Work: Where Does France Stand?

March is a good month to take stock of gender equality (or inequality) in the corporate world. While this is in part due to International Women's Day, in France, March also means the publishing of corporate gender equality index…more

Employer Liability Issues, Equal Pay, Gender Equity, International Labor Laws

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US Department of State Releases May 2024 Visa Bulletin

The US Citizenship and Immigration Services (USCIS) will use the Final Action Dates for Employment-Based Adjustment of Status Applications chart in May 2024. The Final Action Dates chart reflects no advancement…more

EB-1, EB-2, EB-3, US Department of State, USCIS

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US Attorneys Emphasize Benefits of New Voluntary Self-Disclosure Policy

Assistant Attorney General (AAG) Kenneth A. Polite Jr. of the US Department of Justice’s (DOJ’s) Criminal Division recently joined several high-profile, diverse US Attorneys at the inaugural Charlotte E. Ray Lecture and White…more

Compliance, Cooperation, Corporate Misconduct, Department of Justice (DOJ), Self-Disclosure Requirements

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NRC Provides Emergency Preparedness Flexibility for SMRs and Advanced Reactors

The US Nuclear Regulatory Commission (NRC) has issued a final rule and associated regulatory guide providing an alternative avenue for small modular reactors (SMRs) and advanced reactors to satisfy emergency preparedness…more

Energy Sector, Final Rules, Nuclear Power, Nuclear Regulatory Commission

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Where’s the Money? Options for Commercializing Technology, Part 2: White-Label Arrangements

In our prior post in this two-part series on less commonly discussed technology commercialization options, we addressed how open-source software (OSS) providers may make money on their products. In this Part 2, we’ll look at…more

Copyright, Intellectual Property Protection, IP License, Open Source Software, Software

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NFTs: What's in Store for 2022?

2021 was a banner year for non-fungible token sales, which are projected to climb even higher in 2022. Selected by Collins English Dictionary as the 2021 Word of the Year, non-fungible tokens (NFTs) are unique blockchain-based…more

Art, Artists, Blockchain, Copyright, Cryptocurrency

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Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational…more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

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Chicago Enhances ‘Ban the Box’ Legislation Effective for Employers Immediately

Chicago’s newly elected mayor, Brandon Johnson, signed amendments on April 24 to Chicago’s “ban the box” ordinance, which became effective immediately and applies to all Chicago employers. Mirroring updates the Illinois…more

Ban the Box, City of Chicago, Criminal Background Checks, Employer Liability Issues, Hiring & Firing

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Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

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SEC’s Climate Disclosure Rules: Balancing Compliance Amid Legal Uncertainty

The US Securities and Exchange Commission (SEC) completed a historic rulemaking on March 6, 2024 by adopting new rules requiring public companies to disclose certain climate-related information in registration statements and…more

Climate Change, Corporate Governance, Disclosure Requirements, Greenhouse Gas Emissions, Securities and Exchange Commission (SEC)

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Fifth Circuit Vacates Civil Money Penalty, Finds MD Anderson in Compliance with HIPAA

The US Court of Appeals for the Fifth Circuit issued its ruling in the landmark HIPAA case between The University of Texas MD Anderson Cancer Center (MD Anderson) and the US Department of Health and Human Services (HHS). The…more

Civil Monetary Penalty, Department of Health and Human Services (HHS), Enforcement Actions, Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

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Key Contract Considerations and Trends: Buying, Selling, and Integrating With Digital Health Solutions

These are exciting times for the advancement of healthcare, whether you’re a hospital, health system, or healthcare technology company or a consumer that benefits from the proliferation of products and services provided. In…more

Artificial Intelligence, Digital Health, Food and Drug Administration (FDA), Life Sciences, PHI

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Recent Updates Regarding the Special Financial Assistance Program

Recent action taken by the Pension Benefit Guaranty Corporation (PBGC) and the US Department of Labor (DOL) will affect plans that are eligible for, or have received, special financial assistance (SFA). SFA-eligible plans should…more

Department of Labor (DOL), Employee Benefits, PBGC, Pensions, Retirement Plan

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Cracking AI and Outsourcing Conundrums (Part 2): Enhanced Quality Checks vs. Savings Commitments

In Part 1 of our Cracking AI and Outsourcing Conundrums series, we discussed at a high level the challenges of requiring outsourcing providers to drive generative AI (GenAI) innovation while at the same time complying with…more

Artificial Intelligence, Innovative Technology, Machine Learning, Outsourcing, Technology Sector

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California Supreme Court Ruling Gives Guidance on Compensable Time Under California Law

The California Supreme Court issued its decision in Huerta v. CSI Electrical Contractors, providing further guidance to employers on when employee time spent in (1) security exit procedures, (2) traveling on employer property,…more

CA Supreme Court, Employer Liability Issues, Labor Code, State Labor Laws, Wage and Hour

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UK Asset Managers: FCA Proposes New Sustainability Disclosure and Labelling Requirements

The UK Financial Conduct Authority (FCA) recently published its consultation paper, CP22/20, on the use of Sustainability Disclosure Requirements (SDR) and investment labelling. The consultation paper proposes rules to help…more

Asset Management, Consultation Papers, Disclosure Requirements, Financial Conduct Authority (FCA), Financial Services Industry

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CFTC Releases New Blueprint for Enforcement: Higher Penalties, Monitors, Admissions

The Division of Enforcement of the US Commodity Futures Trading Commission (CFTC or Commission) published on October 17, 2023 an advisory to assist its staff in recommending future enforcement resolutions to the Commission (the…more

CFTC, Civil Monetary Penalty, Enforcement Actions, Swap Dealers

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National Labor Relations Board Reinstates ‘Quickie’ Election Rules

In a move that marks the return of the Board’s “quickie” election rules, the National Labor Relations Board has announced changes to its representation-case procedures that will dramatically accelerate the pre-election timeline…more

Employer Liability Issues, NLRB, Quickie Election Rules, Union Elections, Unions

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US Supreme Court Allows Early Constitutional Challenges to SEC Administrative Proceedings in Federal District Courts

In Axon Enterprise Inc. v. Federal Trade Commission, the US Supreme Court on April 14 unanimously decided that a party may bring constitutional challenges to the US Securities and Exchange Commission’s (SEC’s or Commission’s)…more

Administrative Law Judge (ALJ), Administrative Proceedings, Constitutional Challenges, Enforcement Actions, Securities and Exchange Commission (SEC)

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California Law Will Obligate VC Firms to Report Portfolio Company Diversity Metrics

California Governor Gavin Newsom recently signed Senate Bill 54, which aims to increase diversity among founders that are backed by venture capital (VC) companies. If implemented in its current version, SB 54 will likely apply…more

California, Governor Newsom, Investors, Startups, Venture Capital

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Mexican Companies Face Risk of Secondary Sanctions From Mexican President’s Offer to Sell Gasoline to Venezuela

Mexican President Andrés Manuel López Obrador recently announced that Mexico is willing to ship gasoline to Venezuela notwithstanding the threat of US sanctions against such activity…more

Economic Sanctions, Exports, Foreign Policy, Mexico, Office of Foreign Assets Control (OFAC)

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IRS Announces Increased Gift and Estate Tax Exemption Amounts for 2024

The US Internal Revenue Service has announced that the annual gift tax exclusion is increasing in 2024 due to inflation. The exclusion will be $18,000 per recipient for 2024—the highest exclusion amount ever…more

Estate Planning, Estate Tax, Estate-Tax Exemption, Gift Tax, Gift-Tax Exemption

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Exploring Contractual Issues in AI Transactions

It’s no surprise that AI is dominating the news cycle. One would be hard pressed to find another trend that has so quickly woven itself into the fabric of legal documents. We are seeing service agreement riders, diligence…more

Artificial Intelligence, Innovative Technology, Machine Learning, Technology Sector

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Outbound Investment Review: Little Immediate Effect, but More is Coming

The US government’s multibranch effort to implement a new regulatory regime designed to regulate outbound investments based on national security concerns moved forward with the White House’s August 9, 2023 Executive Order, EO…more

Investment, National Security, Outbound Transactions, Popular, U.S. Treasury

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Current Developments in Sec and Finra Examinations & Enforcement 2022–2023 - A Special Report for Investment Advisers and Broker-Dealers

Registered entities continued to be a significant focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect similar attention this year. The SEC’s…more

Administrative Law Judge (ALJ), Broker-Dealer, CFTC, Cybersecurity, Disgorgement

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Existing and Proposed Federal AI Regulation in the United States

The rapid rate at which technology is advancing poses a significant challenge to global regulatory authorities, and perhaps nowhere is this more evident than with respect to artificial intelligence (AI). While AI continues to…more

Artificial Intelligence, CFIUS, Export Administration Regulations (EAR), Export Controls, Exports

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EU Launches Two More In-Depth Investigations Under Foreign Subsidies Regulation

Just months after its first investigation under the Foreign Subsidies Regulation of Chinese train maker CRRC Corp. (see our LawFlash here), the European Commission has targeted two more companies participating in an EU tender,…more

Acquisitions, Competition, Corporate Counsel, European Commission, Foreign Subsidies

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Blockbuster Biologics Review - Issue 22

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to…more

Biologics, Biosimilars, Intellectual Property Protection, Life Sciences, Patent Infringement

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A Proxy Season Wrap-up: Shareholder Proposals Target ESG and Equity Audits

In recent years, there has been a steady increase in shareholder proposals that target a public company’s ESG commitments, including diversity and inclusion data, environmental or emission programs, and community engagement. As…more

Corporate Governance, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG), Proxy Season, Proxy Statements

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NRC Approves Staff Withdrawal of Recommendations on Reactor Oversight Program Improvements

The NRC’s Commissioners approved an NRC Staff request on August 5 to withdraw two SECY memoranda related to improvements of the effectiveness and efficiency of the Reactor Oversight Process (ROP). These SECY papers were…more

Electricity, Energy Sector, Nuclear Power, Nuclear Regulatory Commission, Power Plants

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Congress Gives 40-Year Extension for Price-Anderson Nuclear Liability Framework

With the change of a single number, Congress has provided continued support for the nuclear power industry by renewing the Price-Anderson Act. Congress amended Section 170 of the Atomic Energy Act of 1954 (commonly known as the…more

Department of Energy (DOE), Energy Sector, Nuclear Power, Nuclear Regulatory Commission

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Lanham Act Only Extends to Claims Stemming from US Conduct that Causes a Likelihood of Confusion

The US Supreme Court unanimously overturned a $90 million verdict for trademark infringement under the Lanham Act, 97% of which was attributed to purely extraterritorial conduct. While the holding attempts to draw a bright-line…more

Abitron Austria GmbH v Hetronic International Inc, Extraterritoriality Rules, Foreign Sales, Intellectual Property Protection, Lanham Act

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Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair…more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

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Five Common Mistakes Private Companies Make When Granting Stock Options

Private companies grant stock options to their employees as a way to retain and motivate them and to reward their employees for the company’s success. Included below are five common mistakes we have come across…more

Executive Compensation, Securities, Stock Options, Stocks

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Maximizing Insurance Assets Amid Extreme Weather Conditions

With recent severe weather events in Texas and other states causing significant property damage and business disruptions, companies should consider how their insurance coverage, including business interruption and supply chain…more

Business Interruption, Business Losses, Commercial Insurance Policies, Infectious Diseases, Insurance Claims

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Current Developments in Sec and Finra Examinations & Enforcement 2022–2023 - A Special Report for Investment Advisers and Broker-Dealers

Registered entities continued to be a significant focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect similar attention this year. The SEC’s…more

Administrative Law Judge (ALJ), Broker-Dealer, CFTC, Cybersecurity, Disgorgement

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2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,…more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

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US District Court Declares Corporate Transparency Act Is Unconstitutional

The US District Court for the Northern District of Alabama issued a landmark decision on March 1, 2024 in which it held that the Corporate Transparency Act (CTA) is unconstitutional. In the opinion, Judge Liles Burke held that…more

Beneficial Owner, Corporate Transparency Act, Financial Crimes, FinCEN, Reporting Requirements

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FTC Sues Private Equity Firm Over Alleged Anticompetitive Scheme Involving Roll-up Acquisitions

The US Federal Trade Commission is suing US Anesthesia Partners Inc. and its private equity founder for allegedly enacting an anticompetitive scheme to gain market power through a series of roll-up acquisitions…more

Anti-Competitive, Antitrust Provisions, Competition, Federal Trade Commission (FTC), Private Equity Firms

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Proposed Framework Would Expand US Government’s Discretion to ‘March-In’ on Patent Rights

In the Biden administration’s pursuit of increasing affordability of healthcare and prescription drugs, the National Institute of Standards and Technology (NIST) released in December 2023 its draft framework on the US…more

Bayh-Dole Act, Intellectual Property Protection, Inventions, March-in-Rights, NIST

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Illinois Expands Worker Protection Obligations of Companies Contracting with Day and Temporary Labor Service Agencies

Illinois recently issued legislation expanding the information sharing and safety training obligations of companies that contract with day and temporary labor service agencies…more

Employer Liability Issues, State Labor Departments, State Labor Laws, Temporary Employees

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European Council Issues Guidance on Recently Imposed ‘No Russia’ Clause for EU Exporters

EU-based aircraft owners and lessors, among other exporters, will soon have to incorporate a “No Russia” clause in their contracts with non-EU counterparties for the sale, supply, transfer, or export of aircraft and aircraft…more

Economic Sanctions, EU, Export Controls, Exporters, Exports

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California Announces 2022 Increase in Compensation Rate for Computer Professional Exemption

California employers must ensure that compensation rates for computer professionals meet updated salary thresholds, as of January 1, 2022. The California Department of Industrial Relations (DIR) issued a memo on October 18,…more

Compensation & Benefits, Computer Programmers, Consumer Price Index, Department of Industrial Relations, Department of Labor (DOL)

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CEQ Issues Draft Guidance on Evaluation of Greenhouse Gas Emissions

The guidance will significantly affect infrastructure projects located on federal land and federal permitting of major energy projects. On December 18, the White House’s Council on Environmental Quality (CEQ) issued draft…more

Climate Change, Draft Guidance, Energy Projects, Greenhouse Gas Emissions, Infrastructure

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California Supreme Court Prohibits Meal Break Rounding and Creates Violation Presumption

In light of the recent ruling, employers in California should be aware of the risks involved in using rounded time to determine whether an employee took a late or short meal break…more

CA Supreme Court, Employer Liability Issues, Employment Policies, Labor Law Violations, Rebuttable Presumptions

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State Department to Launch Stateside Visa Renewal Pilot Program in Late January – Publications

The US Department of State announced on December 21 the launch of a stateside visa renewal pilot program, which will be limited to approximately 20,000 nonimmigrant visa holders during its initial pilot run, which starts on…more

Employment Eligibility Verification, Foreign Workers, H-1B, Immigration Procedures, US Department of State

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New York Enacts Legislative ‘Fix’ for Legacy LIBOR Contracts Governed by NY Law; Will a Federal Fix Be Next?

The State of New York has enacted a new law that should ease the transition away from US dollar LIBOR for legacy financial contracts that are governed by New York law but do not contain modern benchmark fallback provisions…more

Alternative Reference Rates Committee (ARRC), Benchmarks, Consumer Financial Products, Financial Contracts, ICE Benchmark Administration (IBA)

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German Braunschweig Higher Regional Court Rules on Statutory ESG Reporting Obligations for Stock Corporation Management Boards

In a decision dated May 8, 2023 (case reference: 2 W 25/23), the Braunschweig Higher Regional Court (OLG) addressed the question of whether specific ESG reporting obligations can be provided for in the articles of association of…more

Environmental Social & Governance (ESG), Germany, Reporting Requirements, Stock Corporations

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Trump National Labor Relations Board Reverses Major Obama-Era Decisions

With the issuance of four recent decisions overruling key Obama-era National Labor Relations Board precedent and announcing a review of the NLRB’s 2015 election regulations, the NLRB has begun the process of charting a new…more

Joint Employers, NLRA, NLRB, Trump Administration

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Current Developments in SEC Enforcement for Public Companies

The US Securities and Exchange Commission (SEC) continued its significant focus on public companies in 2022 with its enforcement and rulemaking programs. This heightened level of attention will likely continue as the SEC…more

Corporate Counsel, Disclosure Requirements, Disgorgement, Environmental Social & Governance (ESG), Proposed Rules

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The SEC’S New Marketing Rule: Key Takeaways for advisers

Investment advisers’ advertising and solicitation practices, and the media through which investment advisers communicate with clients and investors, have evolved considerably since the US Securities and Exchange Commission (SEC)…more

Advertising, General Solicitation, Investment Adviser, Marketing, Securities and Exchange Commission (SEC)

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A Practical Guide to Aircraft Engine RPFH Agreements

For the ever-evolving aviation industry, the traditional time and material–based contracts between airlines and original equipment manufacturers (OEMs) for the maintenance of aircraft engines may not always be the most practical…more

Aircraft, Airlines, Aviation Industry, Maintenance, Transportation Industry

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The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

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US Supreme Court Clarifies Where Corporations Can Be Sued for Patent Infringement

The United States Supreme Court clarified that 28 U.S.C. § 1400 is the exclusive venue statute for patent infringement cases, so the definition of “residence” for domestic corporations is limited to where they are incorporated…more

Patent Infringement, Patent Litigation, Patents, SCOTUS, TC Heartland LLC v Kraft Foods

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DOJ Breaks Silence on ADA Web Accessibility with New Guidance

Following a period of silence on whether the Americans with Disabilities Act requires websites to be accessible to persons with disabilities, the US Department of Justice released new guidance on March 18 focusing on covered…more

Americans with Disabilities Act (ADA), Department of Justice (DOJ), Disability Discrimination, New Guidance, Public Accommodation

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USPTO Revises Interim Director Review Process, Gives Guidance on Ex Parte Appeals, and Forms New Review Panels

The US Patent and Trademark Office (USPTO) recently issued an update to its procedures for interim Director Review (DR) of decisions by the Patent Trial and Appeal Board (PTAB), evidencing USPTO Director Kathi Vidal’s efforts to…more

Ex Parte, Patent Trial and Appeal Board, Patents, USPTO

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What Public Companies Should Consider Since the NYSE and Nasdaq Have Issued Proposed Clawback Listing Standards

On October 26, 2022, the US Securities and Exchange Commission (SEC) announced the adoption of its new rules directing national securities exchanges, including the New York Stock Exchange (NYSE) and the Nasdaq Stock Market…more

Clawbacks, Incentive Based Contracts, Listing Standards, Nasdaq, New Rules

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Third Circuit Joins Seventh Circuit in Holding Paid Leave May Be Required During Military Service

The US Court of Appeals for the Third Circuit held on August 10 in Travers v. Federal Express Corporation that paid leave is among the “rights and benefits” that the Uniformed Services Employment and Reemployment Rights Act…more

Employee Benefits, Employer Liability Issues, Employment Policies, Military Leave, Military Service Members

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Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

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Telehealth in the United Kingdom: Considerations for Providers

With telehealth surging around the globe due to the COVID-19 pandemic, the UK National Health Services has released guidance that provides a set of good practice principles for third-party partners to follow…more

Coronavirus/COVID-19, Data Protection, Electronic Protected Health Information (ePHI), General Data Protection Regulation (GDPR), Health Care Providers

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FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024…more

Advertising, Automotive Industry, Automotive Loans, Banks, Car Dealerships

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The Next Big Things: Insights for 2020

Autonomous cars, sports betting, and CBD products have burst onto the scene, setting the stage for major developments in how companies do business and how regulators monitor new innovations…more

Affordable Care Act, Appropriations Bill, Automotive Industry, Big Data, Bioengineering

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Considerations When Assessing Your Company’s Vulnerability to a Cyberattack

The current cyberrisk landscape comprises a range of evolving threats, from phishing schemes to third-party vendor vulnerabilities. Companies looking to secure valuable assets, including data, can better prevent and manage…more

Cyber Attacks, Cybersecurity, Data Breach, Data Privacy, Data Protection

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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False Claims Act: Defense-related Enforcement in Fy 2023 and on the Horizon

The headlines from the US Department of Justice’s (DOJ’s) recently released fiscal year 2023 civil fraud statistics may, on the surface, seem unremarkable. Indeed, the $2.7 billion topline number—reflecting total recoveries from…more

Department of Defense (DOD), Department of Justice (DOJ), False Claims Act (FCA), Federal Contractors

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USPTO Sets Forth Criteria for AI-Assisted Inventorship

The US Patent and Trademark Office (USPTO) has released comprehensive guidance on inventorship for artificial intelligence (AI)-assisted inventions. This guidance, instigated by the executive order Safe, Secure, and Trustworthy…more

Artificial Intelligence, Innovative Technology, Intellectual Property Protection, Inventions, Inventors

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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Federal Panel’s Decision Not to Centralize Certain COVID-19 Insurance Lawsuits Provides Strategic Opportunities for Policyholders

The US Judicial Panel on Multidistrict Litigation (Panel) previously declined to centralize all coronavirus (COVID-19)-related business interruption insurance lawsuits, but left open the possibility of certain insurer-specific…more

Business Interruption, Coronavirus/COVID-19, Corporate Counsel, Hartford Insurance Company, Infectious Diseases

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

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DOJ’s Rescission of Longstanding Guidance Creates Uncertainty for Market Benchmarking Activities

The US Department of Justice (DOJ) Antitrust Division is withdrawing three enforcement policy statements that provided important guidance on the exchange of competitively sensitive information through third parties. The guidance…more

Antitrust Division, Antitrust Provisions, Competition, Department of Justice (DOJ), Enforcement Actions

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Texas Governor Instructs Hospitals to Postpone Surgeries and Procedures

Texas Governor Greg Abbott issued Executive Order No. GA-27 on June 25 relating to the need for increased hospital capacity during the coronavirus (COVID-19) pandemic. As COVID-19 numbers in Texas surge, the order aims to…more

Coronavirus/COVID-19, Critical Infrastructure Sectors, Elective Surgical Procedures, Executive Orders, Health Care Providers

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EU’s Highest Court Expands EU GDPR Restrictions on Automated Decision-Making, Profiling, and AI

A recent decision by the Court of Justice of the European Union will extend the EU General Data Protection Regulation’s automated decision-making restrictions to many present and future use cases of such technologies. While the…more

Artificial Intelligence, Corporate Counsel, Court of Justice of the European Union (CJEU), Data Protection, EU

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Not Done Yet—Employee Benefits Plan Transition and Integration Decisions Continue After M&A Transactions Close

Patrick Rehfield focuses on matters related to executive compensation, payroll tax, and employee fringe benefits. He advises private and public companies on designing and implementing nonqualified retirement plans, equity…more

Acquisitions, Employee Benefits, Employer Liability Issues, Mergers, Retirement Plan

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Adventures in Meaningful Work: Finding Purpose and Encouraging It in Others

Truly meaningful work means contributing to something greater than the self. Although research suggests that employees who experience work as meaningful may enhance an organization’s bottom line, at Morgan Lewis, we believe…more

Client Services, Leadership, Professional Development

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NJ State Contractors Required to Mandate Vaccination or Weekly Covid-19 Testing – Publications

Under a newly signed executive order in New Jersey, all state contractors and subcontractors entering agreements with the state must include a clause that requires all covered workers to either provide adequate proof to the…more

Coronavirus/COVID-19, Employer Liability Issues, Executive Orders, Governor Murphy, Public Health

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COVID-19: Reopening Businesses, Potential Personal Injury Theories, And Mitigating Risks

REOPENING BUSINESS IN THE WAKE OF COVID-19 - As federal, state, and local regulators issue guidelines allowing businesses to reopen during the coronavirus (COVID-19) crisis, businesses face the risk of personal injury claims…more

Coronavirus/COVID-19, Occupational Exposure, Premises Liability, Re-Opening Guidelines, Risk Mitigation

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New US Merger Guidelines Signal Continued Aggressive Merger Enforcement at DOJ, FTC

The US Department of Justice (DOJ) and Federal Trade Commission (FTC) released new Merger Guidelines on December 18, 2023—dramatically expanding the number and type of transactions that the agencies will consider presumptively…more

Antitrust Provisions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act, Merger Controls

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EU Launches Two More In-Depth Investigations Under Foreign Subsidies Regulation

Just months after its first investigation under the Foreign Subsidies Regulation of Chinese train maker CRRC Corp. (see our LawFlash here), the European Commission has targeted two more companies participating in an EU tender,…more

Acquisitions, Competition, Corporate Counsel, European Commission, Foreign Subsidies

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Current Developments in SEC Enforcement for Public Companies 2024

The US Securities and Exchange Commission (SEC) continued its significant focus on public companies in 2023 with its enforcement and rulemaking programs, and this heightened level of attention will continue throughout 2024…more

10b5-1 Plans, Disclosure Requirements, Insider Trading, Securities Act of 1933, Securities and Exchange Commission (SEC)

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DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting…more

Artificial Intelligence, Department of Justice (DOJ), Fraud, Securities and Exchange Commission (SEC), Self-Disclosure Requirements

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

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Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational…more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

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State of the Fintech M&A Landscape: Market Trends and Regulatory and Enforcement Considerations

Three months into 2023 and the fintech landscape looks wildly different than this time one year ago. Global economic uncertainty clouds the fintech industry, with it facing challenges from rising interest rates, significant…more

Acquisitions, Blockchain, Cryptocurrency, Digital Assets, Financial Services Industry

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New US Merger Guidelines Signal Continued Aggressive Merger Enforcement at DOJ, FTC

The US Department of Justice (DOJ) and Federal Trade Commission (FTC) released new Merger Guidelines on December 18, 2023—dramatically expanding the number and type of transactions that the agencies will consider presumptively…more

Antitrust Provisions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act, Merger Controls

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Department of Labor Finalizes QPAM Exemption Amendment

The US Department of Labor (DOL) final amendment to Prohibited Transaction Class Exemption 84-14, the so-called QPAM Exemption that is commonly relied upon by investment managers for ERISA-governed employee benefit plans and…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions, QPAM

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IRS Warns of Compliance Actions Related to ESOPs and High-Income Taxpayers

The Internal Revenue Service (IRS) recently issued IR-2023-144 (the Notice), warning stakeholders of compliance issues associated with employee stock ownership plans (ESOPs) related to the tax liability of high-income taxpayers…more

Department of Labor (DOL), Employee Benefits, ESOP, IRS, Retirement Plan

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SEC and CFTC Adopt Amendments to Form PF

On February 8, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC and, together with the SEC, the Commissions) voted to adopt amendments to Form PF1 that will impact the required…more

CFTC, Form PF, Investment Adviser, Investors, Private Equity

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OSHA Issues Final ‘Walkaround Rule’ Giving Unions and Other Third Parties Access to Private Employer Worksites

A new rule from the US Occupational Safety and Health Administration (OSHA) affords unions, labor activists, and other third parties access to private worksites during workplace inspections…more

Employer Liability Issues, OSHA, Safety Inspections, Union Representatives, Unions

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US Supreme Court Will Not Weigh In on Class Certification, Representative Evidence Questions

The US Supreme Court denied a certiorari petition seeking to resolve circuit court splits relevant to the litigation of class action matters, including if and when class certification is appropriate where a significant portion…more

Antitrust Litigation, Class Certification, Competition, Criminal Conspiracy, Criminal Investigations

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Real Estate Transfer Tax in Germany: New Decree on Allocation of Properties in Share Deals

In a decree dated October 16, 2023, the German tax authorities adopted provisions from two rulings of the German Federal Fiscal Court (BFH) from 2021 and 2022 on the allocation of real estate and also established further new…more

Germany, Real Estate Transfers, Realty Transfer Taxes, Transfer Taxes

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SEC Charges Investment Advisers with Making False and Misleading Statements About Their Use of AI

On March 18, the US Securities and Exchange Commission (SEC) announced the first AI-related settled actions against two investment advisers—Delphia (USA) Inc. and Global Predictions Inc.—for making false and misleading…more

Enforcement Actions, False Statements, Investment Adviser, Misleading Statements, Securities and Exchange Commission (SEC)

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Inflation Reduction Act Guidance Anticipated on Direct Payment for Energy Credits

The Inflation Reduction Act of 2022 opened up many energy credit opportunities for tax-exempt organizations. Further guidance on the credit regime is anticipated in the coming months, which should help organizations determine…more

Energy Tax Incentives, Inflation Reduction Act (IRA), Internal Revenue Code (IRC), Investment Tax Credits, Tax Credits

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Biden Administration’s HSR Data: 7 Key Takeaways (and Some Surprises)

The Federal Trade Commission (FTC) recently released the Hart-Scott-Rodino Annual Report for Fiscal Year 2022 (the Report)1 , which includes Hart-Scott-Rodino Act filing (HSR filing) statistics for the most recent year available…more

Antitrust Provisions, Department of Justice (DOJ), Federal Trade Commission (FTC), Filing Fees, Hart-Scott-Rodino Act

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

Corporate Transparency Act: What Companies Need to Know

While the Corporate Transparency Act largely applies to foreign-owned shell companies, domestic companies should carefully read the definition of “reporting company” to ensure they fall within one of the exceptions to the…more

Beneficial Owner, Corporate Transparency Act, FinCEN, Legal Entities, NDAA

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Role of Antitrust Laws in Labor Markets, Including in the Energy Field, Remains Key Focus of Enforcers

As noted in this article by Morgan Lewis antitrust lawyers, the role of antitrust laws in labor markets, including in the energy field, remains a key area of focus by enforcers, including the Antitrust Division of the US…more

Antitrust Litigation, Energy Sector, Risk Management

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Understanding EU and UK Climate Disclosure and Anti-Greenwashing Regimes

Amid a rise of environmental, social, and governance (ESG) investing and initiatives, the European Union and United Kingdom have set their sights on efforts to combat greenwashing in the financial sector. Regulations implemented…more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Financial Conduct Authority (FCA), Greenwashing

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Still Hot: Why Global Sports Keep Attracting Record-Breaking Investments

Private equity firms, financial sponsors, and sovereign wealth funds continue to invest in global sports organizations. Financial sponsor–led investments were more prevalent at the beginning of the century in Europe and…more

Institutional Investors, Investors, MLB, NBA, NFL

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Puerto Rico Enacts New Law on Remote Work and Airline Home Bases

The new act, effective as of January 17, clarifies the applicability of local employment laws to remote workers and aims to facilitate remote work in Puerto Rico. The Act to Facilitate the Implementation of Remote Work in the…more

Employer Liability Issues, Income Taxes, Puerto Rico, Remote Working

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Silicon Valley Bank Shutdown: Antitrust Considerations

While complex questions remain about what impact the Silicon Valley Bank (SVB) crisis will have on the financial services and emerging business sectors, it is important to be mindful of antitrust considerations when mitigating…more

Antitrust Violations, Banking Sector, Competition, Financial Crisis, Financial Institutions

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Collateralised Fund Obligations and Rated Note Feeders: Options for Structuring Investment Into Private Funds

Private funds and structured finance professionals increasingly seek innovative ways to reconcile fund managers’ desire to access new sources of capital with insurance companies’ growing appetite for investments into private…more

Collateralized Fund Obligation (CFO), Investment, Investment Funds, Private Funds

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IRS Expands Self-Correction Program, Issues Other Technical Changes in Update to EPCRS

The Internal Revenue Service (IRS) issued an important update late last month to the Employee Plans Compliance Resolution System (EPCRS) in Revenue Procedure 2019-19. The IRS provided a helpful summary of the changes. The most…more

EPCRS, IRS, Retirement Plan

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UK Government Confirms Approach to Menopause in the Workplace

The UK government published its response to the Women and Equalities Committee’s (WEC) report on “Menopause and the Workplace” on 24 January. In a watering down of the WEC’s proposals, and what the WEC has described as a “missed…more

Employee Benefits, Employer Liability Issues, Employment Policies, Equality Act, UK

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Debtors Need Not Apply? Continuing Developments on the SBA’s Authority to Deny PPP Loans to Debtor Applicants

The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the…more

Bankruptcy Code, CARES Act, Commercial Bankruptcy, Coronavirus/COVID-19, Debtors

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SEC and CFTC Adopt Amendments to Form PF

On February 8, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC and, together with the SEC, the Commissions) voted to adopt amendments to Form PF1 that will impact the required…more

CFTC, Form PF, Investment Adviser, Investors, Private Equity

See all updates »

CMS Rule Targeting Private Equity and REIT Ownership of Nursing Facilities Now in Effect

Effective January 16, 2024, a new rule promulgated by the Centers for Medicare & Medicaid Services (CMS) will significantly expand disclosure requirements for skilled nursing facilities participating in Medicare (SNFs) and…more

Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Long Term Care Facilities, Medicaid, Medicare

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Developing and Investing in Automotive Production in China

The growth of automobile production and sales in China, particularly in the realm of alternative fuel vehicles (New Energy Vehicles or NEVs), has been nothing short of explosive, experiencing a nearly 1,000-fold increase between…more

Alternative Fuels, Automotive Industry, China, Foreign Investment, Transportation Industry

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New Jersey Enacts First-of-Its-Kind Temporary Workers’ Bill of Rights

New Jersey Governor Phil Murphy recently signed into law the Temporary Workers’ Bill of Rights, which is the first law in the nation to require equal pay for temporary workers. Under the law, employers must pay temporary workers…more

Corporate Counsel, Employer Liability Issues, Governor Murphy, Staffing Agencies, State Labor Laws

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New York Increases Minimum Wage, Salaries as of December 31

Department of Labor adopts amendments to wage regulations setting the minimum wage rates for nonexempt employees and minimum salaries for exempt employees…more

Compliance, Department of Labor (DOL), Exempt-Employees, Minimum Wage

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National Labor Relations Board Reinstates ‘Quickie’ Election Rules

In a move that marks the return of the Board’s “quickie” election rules, the National Labor Relations Board has announced changes to its representation-case procedures that will dramatically accelerate the pre-election timeline…more

Employer Liability Issues, NLRB, Quickie Election Rules, Union Elections, Unions

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Silicon Valley Bank Collapse: Initial Issues Raised

The California Department of Financial Protection & Innovation on March 10 declared Silicon Valley Bank insolvent and appointed the FDIC as receiver. To help with the resolution of SVB, the FDIC created the Deposit Insurance…more

Banking Sector, Deposit Insurance, Disclosure Requirements, FDIC, Financial Crisis

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The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply…more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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New IRS Q&A Regarding EPCRS Expansion Answers Some – But Not All – Questions

The Internal Revenue Service (IRS) released Notice 2023-43 (Notice) on May 25, which provided guidance regarding the expansion of the IRS’s Employee Plans Compliance Resolution System (EPCRS) mandated by Section 305 of the…more

Comment Period, Compensation & Benefits, Employee Benefits, EPCRS, Individual Retirement Account (IRA)

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Luxembourg’s Financial Services Regulator Enhances ICT Incident Reporting Framework

New ICT incident reporting requirements under Circular 24/847 (Circular) of the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s financial regulator, will come into effect on April 1. This introduces a new…more

CSSF, Financial Institutions, Investment Firms, Investment Funds, Luxembourg

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IRS Proposes Regulations for Excise Taxes on Taxable Distributions from Donor-Advised Funds

The US Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) recently issued proposed regulations under Internal Revenue Code Section 4966 (the Proposed Regulations) that provide important clarifications…more

Excise Tax, Internal Revenue Code (IRC), IRS, Proposed Regulation, U.S. Treasury

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Update: United States Expands Sanctions, Export Controls in Response to Russian Operations in Ukraine

Based on the evolving military operations of the Russian Federation in Ukraine, the United States has imposed additional sanctions on the Russian Federation, Russian leadership, and various financial institutions and companies…more

Asset Freeze, Biden Administration, Blocking Sanctions, Economic Sanctions, Export Administration Regulations (EAR)

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Seventh Circuit: No FLSA Collective Action Notice For Workers Subject To Individual Arbitration Agreements

In Bigger v. Facebook, Inc., the US Court of Appeals for the Seventh Circuit held that courts should not authorize notice of a pending Fair Labor Standards Act (FLSA) collective action to individuals who have already entered…more

Arbitration, Arbitration Agreements, Class Action, Class Action Arbitration Waivers, Collective Actions

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Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

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London Court of International Arbitration Is Granted Exemption from Russia and Belarus Sanctions

The United Kingdom’s Office of Financial Sanctions Implementation (OFSI) has granted the London Court of International Arbitration (LCIA) a General Licence allowing it to process payments from designated parties (DPs) who are…more

Belarus, Belarus Sanctions, Economic Sanctions, International Arbitration, London Court of International Arbitration

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What Emerging Companies Should Understand About Artificial Intelligence

Artificial Intelligence (AI). Generative AI. Machine Learning. Deep Learning. Natural Language Processing (NLP). These technologies have been transformational for businesses across a full host of industries. For emerging…more

Algorithms, Artificial Intelligence, Innovative Technology, Machine Learning, Technology Sector

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Biden Administration Suspends Certain Sanctions on the Government of Venezuela

The Biden administration suspended certain sanctions on the Government of Venezuela, including some impacting Petróleos de Venezuela S.A. (PdVSA), on October 18, 2023. This significant, albeit currently temporary, change in the…more

Biden Administration, Economic Sanctions, General Licenses, Office of Foreign Assets Control (OFAC), Venezuela

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California’s Pandemic Stay-at-Home Order Didn’t Excuse Employer’s Obligation to Reimburse Necessary Work-From-Home Expenses

The California Court of Appeal held in Thai v. International Business Machines Corp. that even if government-mandated stay-at-home orders during the COVID-19 pandemic were an intervening cause of employees working from home and…more

Employer Liability Issues, Job Duties, Reimbursements, Remote Working

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Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true…more

Investment, Investors, Japan, Limited Partnerships, Partnerships

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Transitioning to Post-SECURE 2.0 Pension Overpayment Recovery Practices

As we have previously discussed, the SECURE Act 2.0 of 2022 (SECURE 2.0) changed the game for plan sponsors when considering whether and how to recover retirement plan overpayments. The new rules provide welcome relief and…more

Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Pensions, Retirement Plan

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US Supreme Court Hears Oral Arguments in Challenge to Chevron Deference

The US Supreme Court recently debated the future of the legal precedent known as Chevron deference in two separate cases arising out of the National Marine Fisheries Service’s statutory interpretation of the Magnuson-Stevens…more

Chevron Deference, Loper Bright Enterprises v Raimondo, Magnuson-Stevens Act (MSA), National Marine Fisheries Service, Oral Argument

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The ‘Three Pillars’ of EAC Use and the Proposed Regulations for Clean Hydrogen Tax Credit

The Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) published proposed regulations (the Proposed Regulations) in late December 2023 setting forth rules that would apply to the tax credits for…more

Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits, IRS

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US District Court Declares Corporate Transparency Act Is Unconstitutional

The US District Court for the Northern District of Alabama issued a landmark decision on March 1, 2024 in which it held that the Corporate Transparency Act (CTA) is unconstitutional. In the opinion, Judge Liles Burke held that…more

Beneficial Owner, Corporate Transparency Act, Financial Crimes, FinCEN, Reporting Requirements

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That’s a Wrap: FDA Announces Phase-Out of PFAS in Certain Food-Packaging Materials

The US Food and Drug Administration (FDA) recently announced that manufacturers have completed the voluntarily phase-out of the use of certain per- and polyfluoroalkyl substances (PFAS) in grease-proofing agents for food…more

Food and Drug Administration (FDA), Food Manufacturers, Food Safety, Hazardous Substances, PFAS

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Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

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Silicon Valley Bank Shutdown: Antitrust Considerations

While complex questions remain about what impact the Silicon Valley Bank (SVB) crisis will have on the financial services and emerging business sectors, it is important to be mindful of antitrust considerations when mitigating…more

Antitrust Violations, Banking Sector, Competition, Financial Crisis, Financial Institutions

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Digital Asset Stakers: IRS Rules Certain Staking Rewards Are Taxable Income

The Internal Revenue Service (IRS) recently ruled that if a taxpayer using a cash method of accounting stakes certain cryptocurrency and receives additional units of such cryptocurrency as rewards for staking, the taxpayer must…more

Cryptocurrency, Digital Assets, Income Taxes, IRS, U.S. Treasury

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Federal Trade Commission and Members of Congress Signal Revitalized Robinson-Patman Act Enforcement

On March 28, 2024, 14 lawmakers penned an open letter to the Federal Trade Commission urging the agency to revive enforcement of the Robinson-Patman Act. This call to action, coupled with the FTC’s recently renewed interest in…more

Federal Trade Commission (FTC), Manufacturers, Price Discrimination, Robinson-Patman Act

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The Martoma Decision: The Second Circuit Tackles Insider Trading Post-Salman

The decision could alter the landscape of tipping liability. The US Court of Appeals for the Second Circuit issued another landmark insider trading opinion on August 23. In United States v. Martoma, the Second Circuit…more

Breach of Duty, Dirks v SEC, Fiduciary Duty, Illegal Tipping, Insider Trading

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Retail Reopens Guide

As local and national governments begin easing pandemic-related restrictions on in-person activities, businesses must weigh how best to proceed with reopening, including restarting or expanding operations, reintegrating…more

CARES Act, Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities, Personal Protective Equipment

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COVID-19: What Servicers Should Know About Managing Mortgage Loan Forbearances

Federal and state regulators and Congress continue to release new guidance and requirements to assist mortgage borrowers facing economic hardships resulting from the coronavirus (COVID-19) pandemic…more

CARES Act, Coronavirus/COVID-19, Fannie Mae, FHFA, Financial Distress

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Navigating The Global Data Privacy Landscape: What Multinational Corporations Should Consider When Doing Business

The ever-evolving data privacy landscape continues to become more complex as new developments play out on the global stage. In the United States, a number of individual state laws have come into force, with more following in…more

Cybersecurity, Data Breach, Data Privacy, Data Protection, Data Security

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

SEC and CFTC Adopt Amendments to Form PF

On February 8, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC and, together with the SEC, the Commissions) voted to adopt amendments to Form PF1 that will impact the required…more

CFTC, Form PF, Investment Adviser, Investors, Private Equity

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Morgan Lewis Automotive & Mobility – Q3 | 2023

Welcome to the 37th edition of our newsletter on developments in the automotive industry, published by Morgan Lewis’s automotive and mobility team with contributions from lawyers in our offices around the globe. We counsel our…more

Acquisitions, Antitrust Provisions, Automotive Industry, Competition, Mergers

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New UK Corporate Offence: The ‘Failure to Prevent Fraud’

The recent passage of the Economic Crime and Corporate Transparency Act 2023 marked a significant moment in the UK government’s commitment to improving its economic crime legislative framework with the aim to deter and further…more

Corporate Crimes, Corporate Entities, Corporate Transparency Act, Financial Crimes, Fraud

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Antidiscrimination Laws Cannot Compel Businesses to ‘Express’ Messages They Disagree With

The US Supreme Court on June 30 sided with a website designer who claimed the First Amendment shielded her from liability under state civil rights laws for refusing to create wedding websites for same-sex couples…more

303 Creative LLC v Elenis, Anti-Discrimination Policies, First Amendment, Public Accommodation, Religious Beliefs

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Colleges and Universities: Litigation Challenges and Risk Mitigation in the Face of COVID-19

In navigating the coronavirus (COVID-19) pandemic, higher education institutions should be aware of a recent wave of refund class actions, antitrust considerations in communication with other institutions, claims for business…more

Antitrust Provisions, Business Interruption, Class Action, Colleges, Coronavirus/COVID-19

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Nasdaq Proposes New Board Diversity Composition and Disclosure Requirements

The Nasdaq Stock Market (Nasdaq) announced that it had submitted a proposal to the US Securities and Exchange Commission (SEC) seeking approval of new listing rules to advance board diversity and increase transparency to…more

Board of Directors, Corporate Governance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Gender Equity

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SEC Modernizes Business, Legal Proceedings, and Risk Factor Disclosures Under Regulation S-K

The US Securities and Exchange Commission announced that it voted on August 26 to adopt amendments to Regulation S-K to modernize the description of business, legal proceedings, and risk factor disclosures that registrants are…more

Corporate Governance, Disclosure Requirements, Financial Regulatory Reform, Publicly-Traded Companies, Regulation S-K

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Massachusetts Amends Paid Family and Medical Leave Law

As of November 1, 2023, the Massachusetts Paid Family and Medical Leave (PFML) law will permit employees to supplement their PFML benefits using accrued paid time off (PTO), such as sick or vacation pay. Employers cannot require…more

Employer Liability Issues, Medical Leave, Paid Leave, Paid Time Off (PTO), State Labor Laws

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AIFMD II - A Moderate Reform After More Than 10 Years of Application of the AIFMD

The Alternative Fund Managers Directive (AIFMD - Directive 2011/61/EU) came into effect in Germany on July 22, 2013 when the AIFM Implementation Act came into force and brought about fundamental changes to German investment law,…more

Alternative Investment Fund Managers Directive (AIFMD), EU, European Securities and Markets Authority (ESMA), Regulation Technical Standards (RTS)

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California Public Agency Open-Meeting Rules Relaxed Amid COVID-19

California Governor Gavin Newsom has issued multiple orders affecting how and under what conditions state and local agencies may meet and discuss and/or approve of contracts for services and products during the coronavirus…more

Coronavirus/COVID-19, Executive Orders, Government Agencies, Public Meetings, Ralph M. Brown Act

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NLRB Expands Definition of Protected Concerted Activity and Employer Bargaining Obligations

The National Labor Relations Board (NLRB) recently issued a flurry of decisions prior to the expiration of Member Gwynne Wilcox’s first term at the end of August. These decisions joined the sweeping changes to NLRB…more

Employer Liability Issues, NLRA, NLRB, Protected Concerted Activity, Unions

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Treasury and IRS Publish Long-Awaited Guidance on Renewable Energy Investment Tax Credit

The US Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) released proposed regulations on November 17, 2023 addressing the investment tax credit (ITC) for renewable energy and energy storage facilities,…more

Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits, IRS

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The LSTA Case: DC Circuit Court Delivers Victory for CLO Industry, with Some Broader Ramifications

The Loan Syndications & Trading Association prevailed in its quest to eliminate credit risk retention requirements for open-market CLO managers, in a ruling that has other important implications…more

Collateralized Loan Obligations, Dodd-Frank, LTSA, Risk Retention, Securities and Exchange Commission (SEC)

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European Court of Justice Facilitates Access to Vehicle Data for Independent Vehicle Repairers

In two recent judgments, the European Court of Justice (ECJ) mandated information access rights by independent vehicle repairers to vehicle data under Regulation (EU) 2018/858. The judgments are likely to facilitate access to…more

Competition, EU, European Court of Justice (ECJ), Motor Vehicles, Transportation Industry

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State Attorneys General Fly into Previously Federal Airspace

The Department of Transportation and 18 states on April 16 agreed to a Memorandum of Understanding (MOU) that delegates more authority to and streamlines the process for state attorneys general to investigate consumer complaints…more

Airlines, Aviation Industry, Department of Transportation (DOT), Memorandum of Understanding, State Attorneys General

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Russia to Permit Certain Transactions with Securities of Non-Russian Issuers

Decree 844, issued by the Russian president on November 8, 2023, marked the latest piece of legislation making up the so-named Russian countersanctions law. We have previously covered the rules set by Decree 844 for funds held…more

Counter Sanctions, Economic Sanctions, Financial Institutions, Foreign Policy, Russia

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GAO Finds Offshore Pipeline Oversight Lacking

On April 19, 2021, eleven years since the Deepwater Horizon explosion, the US Government Accountability Office (GAO) released a report issued to Congress criticizing the Department of Interior’s Bureau of Safety and…more

BSEE, Deepwater Horizon, Failure to Monitor, GAO, Gulf of Mexico

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

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Staying Within the Legal Lane: Providing Products and Services for COVID-19

Companies marketing products or services for coronavirus (COVID-19) should be aware of key areas of healthcare law and regulation, including Food and Drug Administration regulation, clinical laboratory testing oversight, product…more

Centers for Medicare & Medicaid Services (CMS), Clinical Laboratory Testing, Coronavirus/COVID-19, Department of Health and Human Services (HHS), Food and Drug Administration (FDA)

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UK Competition and Markets Authority Publishes Provisional Roadmap for Digital Markets Regime

The UK Competition and Markets Authority (CMA) published a roadmap on January 11, 2024 setting out its provisional approach for the implementation of Part 1 of the Digital Markets, Competition and Consumers Bill (DMCC). The…more

Competition, Competition Authorities, Mergers, UK, UK Competition and Markets Authority (CMA)

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Colleges and Universities: Litigation Challenges and Risk Mitigation in the Face of COVID-19

In navigating the coronavirus (COVID-19) pandemic, higher education institutions should be aware of a recent wave of refund class actions, antitrust considerations in communication with other institutions, claims for business…more

Antitrust Provisions, Business Interruption, Class Action, Colleges, Coronavirus/COVID-19

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COVID-19: EPA Releases Interim Guidance for Cleanup Sites

The US Environmental Protection Agency (EPA) has released additional interim guidance for field work decisions at cleanup sites under EPA authority, emphasizing its commitment to ensuring the health and safety of the public, its…more

CERCLA, Coronavirus/COVID-19, Environmental Policies, Environmental Protection Agency (EPA), RCRA

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Ukraine Conflict Two Years Later: Key Legal Lessons for Businesses

It’s been two years since the escalation of the ongoing conflict in Ukraine, which has led many companies with business operations or personnel in Eastern Europe to adjust, restructure, or exit locations in Russia. Meanwhile,…more

Economic Sanctions, Foreign Policy, Foreign Relations, Military Conflict, Russia

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Corporate Transparency Act Update: Beneficial Ownership Reporting in Tax Equity Transactions

Regulations recently coming into effect under the Corporate Transparency Act (CTA) may impose new beneficial ownership reporting obligations on clean energy tax equity partnerships and joint ventures. The rules now require…more

Beneficial Owner, Corporate Transparency Act, FinCEN, Popular, Reporting Requirements

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US Supreme Court: Federal Law Prohibits Discrimination Against Gay, Lesbian, and Transgender Employees

The US Supreme Court on June 15 issued its long-anticipated ruling in Bostock v. Clayton County, which raised the question of whether Title VII’s anti-discrimination provisions protect applicants and employees who experience…more

Altitude Express Inc v Zarda, Bostock v Clayton County Georgia, Civil Rights Act, EEOC v RG & GR Harris Funeral Homes, Employer Liability Issues

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Ukraine Conflict Two Years Later: Key Legal Lessons for Businesses

It’s been two years since the escalation of the ongoing conflict in Ukraine, which has led many companies with business operations or personnel in Eastern Europe to adjust, restructure, or exit locations in Russia. Meanwhile,…more

Economic Sanctions, Foreign Policy, Foreign Relations, Military Conflict, Russia

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Bill Ending Forced Arbitration of Sexual Misconduct Expected to Become Law

The Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021 passed by voice vote in the US Senate on February 10. The US House of Representatives approved the same measure with bipartisan support on…more

#MeToo, Arbitration, Arbitration Agreements, Employer Liability Issues, Employment Contract

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OSHA Updates Guidance to Mitigate COVID-19 in the Workplace

The Occupational Safety and Health Administration (OSHA) recently updated its nonbinding COVID-19 guidance applicable to all industries not otherwise covered by its Emergency Temporary Standard (ETS). The primary purpose of the…more

Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, General Duty Clause, Guidance Update, Infectious Diseases

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UK Government Announces Funding for Innovative Companies, New COVID-19 Future Fund

The UK government has announced two new schemes for funding to innovative companies and startups, launching in May 2020…more

Business Formation, Coronavirus/COVID-19, Funding, Small Business, Startups

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OIG Approves Consultant’s Provision of Gift Cards to Physician Practices

The US Department of Health and Human Services Office of Inspector General (OIG) published favorable Advisory Opinion No. 23-15 on January 3, which concluded that a consultant’s proposal to provide gift cards to existing…more

Anti-Kickback Statute, Client Referrals, Department of Health and Human Services (HHS), Gift-Cards, Health Care Providers

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Exploring Contractual Issues in AI Transactions

It’s no surprise that AI is dominating the news cycle. One would be hard pressed to find another trend that has so quickly woven itself into the fabric of legal documents. We are seeing service agreement riders, diligence…more

Artificial Intelligence, Innovative Technology, Machine Learning, Technology Sector

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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How to Navigate the Post-FTX Crypto Bankruptcy Regulatory Landscape

In the wake of several high-profile collapses of cryptocurrency exchanges, most notably FTX, Celsius, and Voyager, the state of the digital asset landscape is ever-changing, with more questions and landmines than clear paths…more

Bankruptcy Code, Cryptocurrency, Debtors, Digital Currency, Section 365

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Ninth Circuit Holds That Social Media Posts Can Give Rise to Securities Act Liability

The US Court of Appeals for the Ninth Circuit recently held that a person who makes social media posts promoting securities—motivated at least in part by their own financial interests or those of the securities’ owner—is…more

Corporate Issuers, Disclosure Requirements, Public Offerings, Securities Act of 1933, Securities and Exchange Commission (SEC)

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Governor Newsom Issues Executive Order on Use, Procurement, and Development of Generative AI

California Governor Gavin Newsom signed a new executive order (EO) on September 6 regarding the use, procurement, and development of generative artificial intelligence (GenAI) by California state agencies and employees. The EO…more

Artificial Intelligence, California, Executive Orders, Governor Newsom

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

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ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial…more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

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Kazakhstan and France Enter into Agreement for Cooperation in Combating Global Warming

A draft law, On ratification of the Specific Agreement between the Government of the Republic of Kazakhstan and the Government of the French Republic on Implementation of Cooperation in Combating Global Warming, was recently…more

Carbon Emissions, Climate Change, Energy Sector, Global Warming, Kazakhstan

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Update: Russia Determines Terms of Bidding Process Within Blocked Investment Exchange Mechanism

The Russian Government Commission on Control over Foreign Investments approved the terms and conditions of the bidding process carried out within the framework of the blocked investment exchange mechanism…more

Foreign Direct Investment, Foreign Investment, Investors, Russia

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Global Healthcare Transactions Series: How COVID-19 Impacted Transactions in the United States

After a sluggish year in 2020 for mergers and acquisitions among hospitals and health systems, 2021 has shown renewed vigor and is poised for considerable transactional activity. When the COVID-19 pandemic erupted in the United…more

Antitrust Provisions, Competition, Federal Trade Commission (FTC), Health Care Providers, Hospital Mergers

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Evolving Laws and Litigation Post–Dobbs: The State of Reproductive Rights as of May 2023

It has been almost a year since the US Supreme Court held in Dobbs v. Jackson Women’s Health Organization that there was no constitutional right to abortion and returned the question of abortion to the states, resulting in a…more

Abortion, Dobbs v. Jackson Women’s Health Organization, Health Care Providers, Patient Access, Pregnancy

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding…more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

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Government Arguments Potentially Open Constitutional Can of Worms Regarding PTAB Appointments

In response to arguments made by the US government in an appeal pending before the US Supreme Court, members of Congress requested an investigation into the adequacy of due process afforded to Patent Trial and Appeal Board…more

Administrative Patent Judges, Appointments Clause, Arthrex Inc v Smith & Nephew Inc, Constitutional Challenges, Director of the USPTO

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DAG Rosenstein Reinforces Value of Effective and Tailored Compliance Programs

Deputy Attorney General Rod Rosenstein delivered remarks on May 21 at the Mayflower Hotel in Washington, DC, as part of Compliance Week’s 2018 Annual Conference for Risk Professionals. In candid remarks, Mr. Rosenstein…more

Attorney General, Compliance, Department of Justice (DOJ)

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US Supreme Court Hears Oral Arguments in Challenge to Chevron Deference

The US Supreme Court recently debated the future of the legal precedent known as Chevron deference in two separate cases arising out of the National Marine Fisheries Service’s statutory interpretation of the Magnuson-Stevens…more

Chevron Deference, Loper Bright Enterprises v Raimondo, Magnuson-Stevens Act (MSA), National Marine Fisheries Service, Oral Argument

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Reduce, Reuse, Regulate: The Current State of Plastic Waste Legislation in the United States

Three hundred million tons of plastics are produced each year worldwide. Less than 10% of plastic waste in the United States is recycled each year. With projections showing that plastics production is expected to triple over the…more

Environmental Policies, Plastics, Pollution Control, Recycling, Regulatory Reform

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EEOC Publishes Final Rule Amending Conciliation Process

The Equal Employment Opportunity Commission (EEOC) on January 11 published its Final Rule amending procedural rules for its conciliation process. EEOC is statutorily required to engage in the conciliation process whenever it…more

Conciliation, Disability Discrimination, Employer Liability Issues, Equal Employment Opportunity Commission (EEOC)

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IRS Proposes to Make Remote Witnessing of Spousal Consents Permanent

The IRS proposed a revised version of Treas. Reg. § 1.401(a)-21 (the Proposed Regulation) that, if finalized, would make permanent the option of remote witnessing of required spousal consents to certain retirement plan…more

IRS, Proposed Regulation, Remote Depositions, Remote Hearings, U.S. Treasury

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PTAB Issues Decision Awarding Priority of Invention of CRISPR Gene Editing Patents to Broad Institute

The Patent Trial and Appeal Board issued a decision on February 28 awarding priority of invention of foundational CRISPR gene editing patents to the Broad Institute, Massachusetts Institute of Technology, and Harvard…more

CRISPR, Interference Claims, Life Sciences, Patent Applications, Patent Litigation

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EU Launches Two More In-Depth Investigations Under Foreign Subsidies Regulation

Just months after its first investigation under the Foreign Subsidies Regulation of Chinese train maker CRRC Corp. (see our LawFlash here), the European Commission has targeted two more companies participating in an EU tender,…more

Acquisitions, Competition, Corporate Counsel, European Commission, Foreign Subsidies

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Update: Business Insurance Considerations Amid Conflict in Ukraine

The conflict in Ukraine and actions taken by and against Russia continue to wreak havoc on global business operations, causing supply chain disruptions, interruptions in operations, and the loss of assets located abroad. With…more

Aircraft, Business Interruption, Commercial Insurance Policies, Insurance Industry, Political Risk Insurance

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Second Circuit Confirms ‘Willfulness’ Standard for Scienter Has Teeth Under the Anti-Kickback Statute and False Claims Act

In a new decision that could have a significant impact on the persistent efforts of relators to reach otherwise lawful conduct and characterize it as a violation of the Anti-Kickback Statute (AKS), the US Court of Appeals for…more

Anti-Kickback Statute, False Claims Act (FCA), Health Care Providers, Healthcare Fraud, Medicare

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Turkmenistan Takes Steps to Improve Its Business Climate

Turkmenistan, a holder of one of the world’s largest natural gas reserves, has recently taken steps to improve its business climate. In May 2022, Turkmenistan acceded to the New York Convention on the Recognition and Enforcement…more

Arbitration, Arbitration Awards, Cross-Border, Foreign Arbitral Awards, International Arbitration

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California Utility Shielded From Blackout Negligence Lawsuit in Ninth Circuit

The US Court of Appeals for the Ninth Circuit dismissed a class action lawsuit claiming a California utility was liable for blackouts that were allegedly caused by inadequate electric system maintenance…more

California, Energy Sector, Liability, Power Grid, Utilities Sector

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House of Commons Treasury Committee Issues Findings on Sexism in Financial Services Industry

The UK House of Commons Treasury Committee published a report on 8 March, 2024 containing the findings of its inquiry into sexism in the financial services industry, citing a lack of cultural change in the sector as the main…more

Banking Sector, Banks, Financial Services Industry, UK

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‘Indemnify, Defend, and Hold Harmless’: What Does It Really Mean?

An indemnification provision serves as a contractual remedy to redress a party’s (or third party’s) financial loss suffered as a result of a claim, breach, or some other event or condition set forth in the provision…more

Contract Terms, Indemnification Clauses, Indemnity, Indemnity Claim

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What Emerging Companies Should Understand About Artificial Intelligence

Artificial Intelligence (AI). Generative AI. Machine Learning. Deep Learning. Natural Language Processing (NLP). These technologies have been transformational for businesses across a full host of industries. For emerging…more

Algorithms, Artificial Intelligence, Innovative Technology, Machine Learning, Technology Sector

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How to Navigate the Post-FTX Crypto Bankruptcy Regulatory Landscape

In the wake of several high-profile collapses of cryptocurrency exchanges, most notably FTX, Celsius, and Voyager, the state of the digital asset landscape is ever-changing, with more questions and landmines than clear paths…more

Bankruptcy Code, Cryptocurrency, Debtors, Digital Currency, Section 365

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Proposed Framework Would Expand US Government’s Discretion to ‘March-In’ on Patent Rights

In the Biden administration’s pursuit of increasing affordability of healthcare and prescription drugs, the National Institute of Standards and Technology (NIST) released in December 2023 its draft framework on the US…more

Bayh-Dole Act, Intellectual Property Protection, Inventions, March-in-Rights, NIST

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SEC Proposes Mandatory Swing Pricing for Mutual Funds and Revised Liquidity Requirements

On November 2, 2022, the US Securities and Exchange Commission (SEC), by a 3-2 party line vote, proposed amendments (the Proposal) to the liquidity risk management programs rule (Rule 22e-4) under the Investment Company Act of…more

Investment Company Act of 1940, Investment Management, Liquidity, Liquidity Risk Management Rule, Mutual Funds

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Treasury Issues Final Regulations on FIRPTA Exemption for Qualified Foreign Pension Funds

The US Department of Treasury recently released final regulations providing guidance on the exception from taxation under the Foreign Investment in Real Property Tax Act of 1980 for “qualified foreign pension funds” under…more

Anti-Abuse Rule, FIRPTA, Internal Revenue Code (IRC), Investment Management, Pension Funds

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Gender Equality at Work: Where Does France Stand?

March is a good month to take stock of gender equality (or inequality) in the corporate world. While this is in part due to International Women's Day, in France, March also means the publishing of corporate gender equality index…more

Employer Liability Issues, Equal Pay, Gender Equity, International Labor Laws

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Update: Russia Adopts Basic Framework of Eurobonds Replacement, Eases Rules on Repatriation, but Requires Direct Repayment to Russian Lenders

Russian Decree No. 430 was signed on July 5, establishing a basic framework for the replacement of Eurobonds with Russian bonds. The Decree also confirms that debts owed to Russian participants of international syndicates of…more

Bonds, Central Bank of Russia, Eurobonds, Foreign Currency, Foreign Investment

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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Supreme Court Reimposes Stay on OSHA Emergency Temporary Standard, Allows CMS Rule to Go Forward

The US Supreme Court issued two decisions on January 13, 2022 in cases challenging the Occupational Safety and Health Administration’s (OSHA’s) Emergency Temporary Standard (ETS) on Vaccination and Testing and the Centers for…more

Biden Administration, Centers for Medicare & Medicaid Services (CMS), Constitutional Challenges, Coronavirus/COVID-19, Employer Liability Issues

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SEC’s Climate Disclosure Rules: Balancing Compliance Amid Legal Uncertainty

The US Securities and Exchange Commission (SEC) completed a historic rulemaking on March 6, 2024 by adopting new rules requiring public companies to disclose certain climate-related information in registration statements and…more

Climate Change, Corporate Governance, Disclosure Requirements, Greenhouse Gas Emissions, Securities and Exchange Commission (SEC)

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The First French Court Rulings on the Duty of Vigilance

Since 2017, French companies of a certain size have had to draw up a vigilance plan to identify the risks associated with their business and prevent serious violations of human rights and fundamental freedoms, the health and…more

Corporate Governance, Corporate Social Responsibility, Environmental Social & Governance (ESG), France

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COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for…more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

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Plaintiffs’ Firms Extracting Fees Based on Newly Invalidated Advance Notice Bylaw Provisions

In Kellner v. AIM ImmunoTech, the Delaware Court of Chancery held that certain advance notice bylaw provisions were invalid. While the decision engages in a fact-specific analysis of many aspects of AIM ImmunoTech’s advance…more

Bylaws, Fees, Publicly-Traded Companies, Shareholders

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Us Supreme Court: Affirmative Action in College Admissions Must Come to an End

The US Supreme Court issued a landmark decision on June 29, 2023 regarding challenges to race-conscious admissions programs at Harvard University and the University of North Carolina (UNC). In a 6–3 decision split along…more

Affirmative Action, College Admissions, Colleges, Diversity, Diversity and Inclusion Standards (D&I)

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European Court Ruling Impacts Digital Advertising Practices

The European Court of Justice (CJEU) recently issued a significant final decision affecting the online advertising industry, particularly concerning the Transparency and Consent Framework (TCF) developed by the Interactive…more

Advertising, Court of Justice of the European Union (CJEU), Data Protection, EU, General Data Protection Regulation (GDPR)

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The National Cybersecurity Strategy: A Guide for Critical Infrastructure Owners and Operators

Protecting critical infrastructure has become a national security priority. On March 2, 2023, the Biden administration released the National Cybersecurity Strategy, a far-reaching document that sets forth its vision for the…more

Critical Infrastructure Sectors, Cyber Attacks, Cyber Threats, Cybersecurity

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Volcker Rule Amendments: An Early Assessment of Interpretive Issues, Business Impact, and Market Opportunities

Recently published amendments to the Volcker Rule — effective October 1, 2020—could have significant market impact for affected stakeholders, and will liberalize certain key aspects of the Volcker Rule’s regulations and quell or…more

Asset Management, Covered Funds, Credit Funds, Dodd-Frank, Exclusions

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New FASB Standards Mandate Disclosure of Reverse Factoring Programs

Due to new standards issued by the Financial Accounting Standards Board (FASB) in late 2022, companies with supply chain financing are now required to comply with additional disclosures intended to monitor and understand the…more

Accounting Standards, FASB, Financial Accounting, Financial Reporting, Financial Statements

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Impact on ERISA Regulation if Supreme Court Throws Chevron Deference Overboard

The US Supreme Court heard arguments on January 17 in Relentless v. Department of Commerce and Loper Bright Enterprises v. Raimondo. In both cases, a commercial herring fishing company challenged a regulatory requirement that…more

Chevron Deference, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Liability Issues

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High-stakes Game: IRS ‘goes on the Offense’ Against Sports Industry Partnership Losses

Sports industry partnerships are now on notice that the Internal Revenue Service (IRS) is initiating specialized, issue-based BBA partnership examinations focusing on their income and deductions…more

Income Taxes, IRS, Tax Deductions, Tax Planning, Tax Returns

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USPTO Revises Interim Director Review Process, Gives Guidance on Ex Parte Appeals, and Forms New Review Panels

The US Patent and Trademark Office (USPTO) recently issued an update to its procedures for interim Director Review (DR) of decisions by the Patent Trial and Appeal Board (PTAB), evidencing USPTO Director Kathi Vidal’s efforts to…more

Ex Parte, Patent Trial and Appeal Board, Patents, USPTO

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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FTC Sues Private Equity Firm Over Alleged Anticompetitive Scheme Involving Roll-up Acquisitions

The US Federal Trade Commission is suing US Anesthesia Partners Inc. and its private equity founder for allegedly enacting an anticompetitive scheme to gain market power through a series of roll-up acquisitions…more

Anti-Competitive, Antitrust Provisions, Competition, Federal Trade Commission (FTC), Private Equity Firms

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New OFCCP Rule Changes Investigative Process—to the Detriment of Contractors

The US Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) recently issued a new final rule that will change how the agency investigates and enforces allegations of discrimination against federal…more

Federal Contractors, Investigations, Notice of Violation, OFCCP

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US Supreme Court: FTC Cannot Seek Equitable Monetary Relief in Section 13(b) Cases

In a unanimous 9-0 decision authored by Justice Breyer, the US Supreme Court has held that the Federal Trade Commission (FTC) lacks the authority to seek equitable monetary relief in cases brought in federal court under FTC Act…more

AMG Capital Management LLC v FTC, Enforcement Authority, Federal Trade Commission (FTC), FTC Act, FTCA Section 13(b)

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AIFMD II Enters into Force: Key Changes to EU Fund Regime

After several years of negotiations between the European Commission, European Council, and European Parliament following the publication of the initial draft proposal in November 2021, AIFMD II was published in the Official…more

Alternative Investment Fund Managers Directive (AIFMD), EU, European Economic Area (EEA), Investment Funds

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Update: California Governor Signs SB 114 to Reinstate COVID-19 Supplemental Paid Sick Leave

The California State Legislature Senate Bill 114, signed by Governor Newsom on February 9, requires employers with 26 or more employees to provide up to 80 hours of supplemental paid sick leave for qualifying COVID-19 related…more

Coronavirus/COVID-19, Employee Benefits, Employer Liability Issues, Governor Newsom, Paid Leave

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Federal Government Expands Access to Capital for Startups

The federal government is planning to invest considerable funds into promoting startups investing in artificial intelligence, climate, quantum, or biotechnology, for example, and into increasing exit opportunities for German and…more

Investment, Investors, Startups, Venture Capital

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Recent Developments of the New German Supply Chain Act

Addressees of the German Act on Corporate Due Diligence Obligations in Supply Chains should note some new developments, including the first complaints filed under the act, guidance on small- and mid-sized enterprises as…more

Due Diligence, Germany, Human Rights, Risk Management, Supply Chain

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Evolving Regulatory Landscape for Connected Vehicles: Balancing Innovation with National Security

The US Department of Commerce’s Bureau of Industry and Security (BIS) took a potentially important step toward shaping the future of connected vehicles (CVs) by issuing an advance notice of proposed rulemaking (ANPRM) on…more

Automotive Industry, Connected Cars, Electric Vehicles, Manufacturers, National Security

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DOJ Announces Compensation Clawback Pilot Program, Changes to Corporate Compliance Program Evaluation Criteria

The US Department of Justice recently announced a compensation clawback pilot program as well as changes to the corporate compliance program evaluation criteria in the latest of a flurry of policy updates…more

Clawbacks, Compliance, Corporate Counsel, Corporate Governance, Department of Justice (DOJ)

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NLRB Issues New Joint Employer Rule Affirming Expansive Joint Employer Status

The NLRB recently published its final rule on the standard for determining joint employer status, broadening the circumstances under which separate businesses can be considered joint employers—thereby making them obligated to…more

Employer Liability Issues, Franchisee, Franchisors, Joint Employers, NLRB

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SEC Charges Investment Advisers with Making False and Misleading Statements About Their Use of AI

On March 18, the US Securities and Exchange Commission (SEC) announced the first AI-related settled actions against two investment advisers—Delphia (USA) Inc. and Global Predictions Inc.—for making false and misleading…more

Enforcement Actions, False Statements, Investment Adviser, Misleading Statements, Securities and Exchange Commission (SEC)

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Early Results of USPTO’s New Climate Change Mitigation Pilot Program

The United States Patent and Trademark Office launched the Climate Change Mitigation Pilot Program last year to incentivize the filing of patent applications that cover technologies directed to climate change mitigation. With…more

Intellectual Property Protection, Patent Litigation, Patent Trial and Appeal Board, Patents, USPTO

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Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

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DOJ COVID-19 Fraud Enforcement Task Force Releases Report on Combating Fraud

The US Department of Justice’s (DOJ’s) COVID-19 Fraud Enforcement Task Force (CFETF) released a report on April 9 summarizing its efforts to identify, investigate, and prosecute fraud related to COVID-19 relief programs. DOJ’s…more

Coronavirus/COVID-19, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions, Fraud

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Ukraine Conflict Two Years Later: Key Legal Lessons for Businesses

It’s been two years since the escalation of the ongoing conflict in Ukraine, which has led many companies with business operations or personnel in Eastern Europe to adjust, restructure, or exit locations in Russia. Meanwhile,…more

Economic Sanctions, Foreign Policy, Foreign Relations, Military Conflict, Russia

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COVID-19 in Pennsylvania: Department of Environmental Protection Cancels Public Meetings

As the coronavirus (COVID-19) pandemic continues, state government agencies are increasingly responding with closures and cancellations. In Pennsylvania, the Department of Environmental Protection recently cancelled seven highly…more

Business Closures, Clean Air Act, Coronavirus/COVID-19, Department of Environmental Protection, Emergency Management Plans

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Restaurant and Food Service Establishments - Opportunities and Considerations Heading Into 2024

RESTAURANTS AND FOOD SERVICE ESTABLISHMENTS: OPPORTUNITIES AND CONSIDERATIONS HEADING INTO 2024 - From a new employment trend to the advantages and risks of technology to an emerging area of class action litigation to a…more

Advertising, False Advertising, Fast-Food Industry, Restaurant Industry, Retailers

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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2017 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

Recent patent reform legislation, rule changes, and court rulings are expected to have a significant impact on the strategies of both patent owners and petitioners…more

America Invents Act, Claim Construction, Discovery, Estoppel, Inter Partes Review (IPR) Proceeding

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New SEC Rule Will Regulate Registered Fund Investments in Derivatives

On October 28, 2020, the US Securities and Exchange Commission (SEC) voted 3–2 to adopt Rule 18f-4 (the Rule) under the Investment Company Act of 1940 (the Investment Company Act), which will replace decades-old SEC and staff…more

Business Development Companies, Derivatives, ETFs, Financial Regulatory Reform, Investment Funds

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New US Merger Guidelines Signal Continued Aggressive Merger Enforcement at DOJ, FTC

The US Department of Justice (DOJ) and Federal Trade Commission (FTC) released new Merger Guidelines on December 18, 2023—dramatically expanding the number and type of transactions that the agencies will consider presumptively…more

Antitrust Provisions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act, Merger Controls

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Online Tracking Technologies: Updated HIPPA Guidance Creates Uncertainty

On March 18, the US Department of Health and Human Services’ (HHS’s) Office for Civil Rights (OCR) updated its guidance regarding the use of online tracking technologies. The American Hospital Association and others filed a…more

Business Associates, Covered Entities, Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

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A Guide to the Securitization Conflicts of Interest Rule

More than a decade after its initial proposal,1 the US Securities and Exchange Commission (SEC) has at long last adopted a final rule2 under the Securities Act of 1933, as amended (the Securities Act), prohibiting material…more

Conflicts of Interest, Dodd-Frank, Popular, Proposed Rules, Securities and Exchange Commission (SEC)

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2026 World Cup: Navigating Labor, Employment, and Immigration Challenges

The 2026 Men’s World Cup is expected to draw in a substantial cross-border workforce, meaning participating employers should prepare ahead of time if they want to successfully navigate this global event--including with respect…more

Employer Liability Issues, Foreign Workers, Immigrants, Immigration Procedures

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JFTC Issues Survey Results on Trade Practices Involving Startups

The Japan Fair Trade Commission (JFTC) on November 27 published its final report on the survey (Survey) it conducted since November 2019 regarding trade practices involving startup companies…more

Anti-Monopoly, Antitrust Provisions, Competition, Critical Infrastructure Sectors, Japan

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Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government…more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

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UK Sovereign Immunity from Direct Taxation

Sovereign immunity is a principle of public international law whereby one sovereign state should not seek to apply its law to another sovereign state. Alongside the jurisdictional immunity foreign sovereigns enjoy in the United…more

Capital Gains Tax, Corporate Taxes, Foreign Sovereigns, Income Taxes, Sovereign Immunity

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Singapore High Court Dismisses Application to Restrain Former Employee from Accepting Work with Competitor

In Shopee Singapore Private Limited v Lim Teck Yong [2024] SGHC 29 (Shopee v Lim), the Singapore High Court (HC) heard and dismissed an application by an international ecommerce platform, Shopee, to restrain its former employee…more

Employer Liability Issues, Employment Contract, Employment Litigation, Singapore, TikTok

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DOJ Releases 2023 Fraud Section Year in Review

In recent weeks, the US Department of Justice (DOJ) Criminal Division’s Fraud Section released its annual Year in Review report, summarizing the Fraud Section’s accomplishments in 2023. This detailed account points to a…more

Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions, Fraud, Healthcare Fraud

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What’s Driving the Future of Asia’s Tech Scene: Key Trends and Regulatory Updates

Heading into 2023, Asia’s tech scene is well-positioned for strong growth potential. As with any industry where advancement and innovation are outpacing regulation, the complex landscape can be difficult for businesses to…more

Asia, CFIUS, Data Privacy, Digital Assets, Due Diligence

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Pharma Review - Issue 3

Welcome to the third issue of the Morgan Lewis Pharma Review, which summarizes key recent cases from the Federal Circuit and district courts that impact the pharma space, including Federal Circuit and district court decisions in…more

Abbreviated New Drug Application (ANDA), Antitrust Division, Claim Construction, Hatch-Waxman, Inter Partes Review (IPR) Proceeding

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Seattle Becomes First US Jurisdiction to Add Caste as a Protected Class

The city council of Seattle recently added caste as a protected class to the city’s anti-discrimination laws. In doing so, Seattle becomes the first US jurisdiction to ban caste discrimination and the first in the world to pass…more

Anti-Discrimination Policies, Employees, Employer Liability Issues, Equal Protection, Labor Reform

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Social Media Influencer Agreements, Part 2: Considerations When Drafting for an Influencer

In Part 1, we discussed how companies rely on social media influencers to promote their products and services online, and certain items to consider when drafting an influencer agreement. In this Part 2 blog post, we’ll focus on…more

Advertising, Endorsements, Influencers, Marketing, Social Media

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NLRB and OSHA Announce Partnership Over Worker Safety Protections

The National Labor Relations Board (NLRB) and Occupational Safety and Health Administration (OSHA) executed a Memorandum of Understanding (MOU) on October 31 regarding a partnership designed to strengthen their efforts to…more

Employer Liability Issues, NLRA, NLRB, OSHA, Workplace Safety

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DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting…more

Artificial Intelligence, Department of Justice (DOJ), Fraud, Securities and Exchange Commission (SEC), Self-Disclosure Requirements

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Legal Considerations for WHO’s ‘Possibly Carcinogenic’ Aspartame Classification

On July 14, 2023, the World Health Organization (WHO) published a summary of two findings regarding aspartame, an artificial sweetener found in many consumer products. One finding categorized aspartame as “possibly…more

Cancer, Commercial Insurance Policies, Duty to Defend, Food and Drug Administration (FDA), Food Labeling

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SEC Adopts New Private Fund Adviser Rules with Nuanced Application to Non-US Advisers

The US Securities and Exchange Commission (SEC) recently adopted sweeping new rules under the Investment Advisers Act of 1940 (Advisers Act) that apply in certain circumstances to non-US advisers to private investment funds…more

Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds, Securities and Exchange Commission (SEC)

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Collective Proceedings: Who Gets Carriage? UK Competition Appeal Tribunal Decides

The UK Competition Appeal Tribunal (CAT) recently issued its first-ever precertification ruling addressing a “carriage dispute” in the cases Hunter v. Amazon.com and Hammond v. Amazon.com. A carriage dispute arises where there…more

Abuse of Dominance, Amazon Marketplace, Competition, UK, UK Competition Appeal Tribunal (CAT)

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Third Circuit Affirms Priority of NRC Public Health and Safety Requirements

Court rules that the ADA does not create a loophole to NRC fitness-for-duty and security regulations. On August 15, for the first time, a US court of appeals ruled that the US Nuclear Regulatory Commission’s (NRC’s)…more

Americans with Disabilities Act (ADA), Fitness for Duty Exams, Public Health

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Private Funds 2023: The Year in Brief

2023 was a watershed year for the private fund industry, not only because the US Securities and Exchange Commission (SEC) adopted a package of new regulations that will substantially alter the private fund landscape (subject to…more

Broker-Dealer, Form PF, Investment Adviser, Investors, Private Funds

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FCC Adopts Final Rural Health Care Program Rules and Initiates Further Rulemaking

During its January 26 open meeting, the Federal Communications Commission (FCC) adopted an order and further notice of proposed rulemaking (FNPRM) (FCC 23-6) to amend its Rural Health Care (RHC) Program rules. The final rule…more

FCC, Final Rules, Health Care Providers, Rulemaking Process, Rural Health Care Providers

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Real Estate Report

The Real Estate Report, produced by our Real Estate lawyers, covers important commercial real estate trends and developments…more

Buyers, CFIUS, Commercial Leases, Commercial Real Estate Contracts, Commercial Real Estate Market

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IRS Provides Guidance on Hodgepodge of Secure 2.0 Provisions

The US Internal Revenue Service (IRS) released a notice providing guidance on various provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0). Some of the topics touched on in the guidance include automatic enrollment, the…more

401k, 403(b) Plans, Employee Benefits, Individual Retirement Account (IRA), IRS

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Despite Delayed Adoption of Final Regulations, CPRA Is Enforceable As of Initial Enforceability Date

The Court of Appeal of the State of California (the Court of Appeals) recently ruled that Proposition 24, the California Privacy Rights Act of 2020 (CPRA), is enforceable without any further delay. The CPRA contains important…more

California Privacy Rights Act (CPRA), Consumer Privacy Rights, Cybersecurity, Data Collection, Data Privacy

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Private Fund Industry Update: the Key Tax Developments That Shaped 2023

2023 saw a number of key tax developments that may affect the private fund industry going into 2024, from key US Tax Court opinions and updates to Internal Revenue Service (IRS) Forms, to new regulations proposed by the IRS and…more

Income Taxes, Private Equity, Private Equity Funds, Tax Court, Tax Exemptions

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DOJ Releases 2023 Fraud Section Year in Review

In recent weeks, the US Department of Justice (DOJ) Criminal Division’s Fraud Section released its annual Year in Review report, summarizing the Fraud Section’s accomplishments in 2023. This detailed account points to a…more

Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions, Fraud, Healthcare Fraud

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Approving QDROs During Court and Government Office Closures

Due to widespread court closures as a result of the coronavirus (COVID-19) pandemic, it may be difficult for participants or their attorneys to obtain a certified copy of a domestic relations order that many retirement plans…more

Beneficiary Designations, Coronavirus/COVID-19, Employee Benefits, QDRO, Retirement Plan

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Protecting Assets: Employer Guide for Life Sciences Startups in Japan, China, and the US

The life blood of many life sciences startups is their assets—employees, ideas, and innovations. A key focus for these companies is how to best protect those assets. In Japan, China, and the United States, there are underlying…more

Asset Protection, China, Employment Contract, Japan, Life Sciences

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New Law Changes Massachusetts Estate Tax Exemption Amount

Massachusetts Governor Maura Healey signed a bill on October 4, 2023 amending the state’s estate tax law. INCREASED MASSACHUSETTS ESTATE TAX EXEMPTION AMOUNT For individuals dying on or after January 1, 2023, the new law…more

Estate Planning, Estate Tax, Estate-Tax Exemption, Tax Exemptions, Tax Planning

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NY Federal Court Decision Highlights Importance of Careful Drafting of Arbitration Program

The US District Court for the Southern District of New York (SDNY) ruled that an employer’s mandatory arbitration program was unenforceable because its terms were contained in an employee handbook and did not create a binding…more

Arbitration, Arbitration Agreements, Corporate Counsel, Employee Handbooks, Employer Liability Issues

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EO 11246 Following the Harvard-UNC Supreme Court Cases: Why Federal Contractors Should Stay the Course for Now

The US Supreme Court’s June 29 decision in Students for Fair Admissions, Inc. v. University of North Carolina and Students for Fair Admissions, Inc. v. Harvard University (the Harvard-UNC cases), which will have a significant,…more

Affirmative Action, Civil Rights Act, College Admissions, Diversity, Educational Institutions

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UK FCA’s Consultation Proposes Regulatory Action on D&I in Financial Sector

The UK Financial Conduct Authority (FCA) recently launched a consultation on the creation of a robust new regulatory framework on diversity and inclusion (D&I) in the financial sector. With its new consultation, the FCA has made…more

Corporate Governance, Diversity and Inclusion Standards (D&I), Financial Conduct Authority (FCA), Reporting Requirements, UK

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Offshore Wind Update: Checks Are in the Mail

As many industry observers predicted (and hoped), 2022 has been a breakout year for the nascent US offshore wind industry. Spurred by the Biden-Harris administration’s goals of 30 gigawatts of offshore wind by 2030 and net-zero…more

Electricity, Energy Projects, Energy Sector, Renewable Energy, Wind Power

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EPA Announces Ban on Chrysotile Asbestos

The White House and US Environmental Protection Agency (EPA) jointly announced on March 18 a final rule to prohibit ongoing uses of chrysotile asbestos, the only known form of asbestos currently used in or imported to the United…more

Asbestos, Chemicals, Environmental Protection Agency (EPA), Toxic Chemicals, Toxic Substances Control Act (TSCA)

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USPTO Introduces Pilot Program to Defer Response to Subject Matter Eligibility Rejections

The US Patent and Trademark Office is implementing a pilot program to allow participating applicants to defer responding to subject matter eligibility rejections until the earlier of a final disposition of the application, or a…more

Intellectual Property Protection, Patent Applications, Patent Examinations, Patent Litigation, Patents

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DHS Announces New Form I-9 and Document Verification Guidelines

The US Department of Homeland Security (DHS) announced on July 21, 2023 the modernization of the I-9 process following the COVID-19 pandemic, including through new guidelines expanding the use of E-Verify, the DHS’s employment…more

Department of Homeland Security (DHS), E-Verify, Employer Liability Issues, Employment Eligibility Verification, Foreign Workers

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Supreme Court to Review Third Circuit’s ‘Disruptive’ NGA Decision on Pipeline’s Power to Acquire Right-of-Way over State Lands

The US Supreme Court granted certification on February 3 to review the US Court of Appeals for the Third Circuit’s decision in In re PennEast Pipeline Co. in order to resolve an important question: Does the Natural Gas Act (NGA)…more

Certificate of Public Convenience and Necessity, Certiorari, Condemnation, Critical Infrastructure Sectors, Eleventh Amendment

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Understanding EU and UK Climate Disclosure and Anti-Greenwashing Regimes

Amid a rise of environmental, social, and governance (ESG) investing and initiatives, the European Union and United Kingdom have set their sights on efforts to combat greenwashing in the financial sector. Regulations implemented…more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Financial Conduct Authority (FCA), Greenwashing

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Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair…more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

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2017 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases…more

Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Penalties, Securities and Exchange Commission (SEC)

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The Course Ahead: Legal and Regulatory Updates for Emissions and Electric Vehicles in the Biden-Harris Administration

Just over 100 days into the Biden-Harris administration, the course being charted by the government for automobile emissions and emerging automotive mobility technologies is becoming clearer…more

Automotive Industry, Biden Administration, Carbon Emissions, Clean Air Act, Critical Infrastructure Sectors

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IP and Commercial Contract Litigation Developments and Trends: What Transactional Lawyers Should Know

As part of our Spotlight series, we invited litigation partners Dana E. Becker (Philadelphia), Shon Lo (Chicago), and Krista Vink Venegas, Ph.D. (Chicago), to talk about recent trends and issues in IP-related and other…more

Commercial Contracts, Contract Drafting, Contract Terms, IP License, Non-Disclosure Agreement

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Sustainable Finance: a Strategic Priority for the UAE

The Abu Dhabi Global Market (ADGM) recently announced the implementation of one of the first sustainable finance frameworks in the region that will come into force with immediate effect. The framework encompasses rules on…more

Environmental Social & Governance (ESG), SFDR, Sustainability, Sustainable Finance, United Arab Emirates (UAE)

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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California Further Bolsters its Prohibitions on Noncompete Agreements

On the heels of the enactment of Senate Bill 699, which fortified California’s restrictions on noncompete agreements and other restrictive covenants and provided additional employee protections, California has once more…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Non-Solicitation Agreements, Restrictive Covenants

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Renewable Power in Türkiye – a Brief Overview

Türkiye’s renewable energy market has experienced substantial growth with renewable electricity generation nearly tripling in the last decade. Turkish Electricity Transmission Co. (TEİAŞ) General Directorate data shows that as…more

Clean Energy, Electricity, Energy Projects, Energy Sector, Renewable Energy

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IRS Proposes Regulations for Excise Taxes on Taxable Distributions from Donor-Advised Funds

The US Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) recently issued proposed regulations under Internal Revenue Code Section 4966 (the Proposed Regulations) that provide important clarifications…more

Excise Tax, Internal Revenue Code (IRC), IRS, Proposed Regulation, U.S. Treasury

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Iliria S.R.L. v Albania: Landmark Decision Affirms Need for Timely Justice

In a landmark decision rendered by the European Court of Human Rights (ECtHR), the recent case of Iliria S.R.L. v Albania underscores the imperative need for timely justice in matters of international arbitration in the context…more

Arbitration, EU, European Court of Human Rights, Human Rights, International Arbitration

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COVID-19 in India: Lockdown Guidelines Revised

The nationwide lockdown in India in response to the coronavirus (COVID-19) pandemic has been extended until May 3. The Indian government has permitted the operation of certain additional business activities from April 20…more

Coronavirus/COVID-19, Government Lockdown, India, Operators of Essential Services, Wage and Hour

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New Jersey Rejects Contractual Shortening of Limitations Period

The New Jersey Supreme Court’s decision forbids employers from contractually shortening the two-year limitations period under the state’s Law Against Discrimination. In a decision issued on June 15 that reversed two lower…more

Arbitration Agreements, Contract of Adhesion, Employment Contract, Employment Discrimination, Limitation Periods

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China Securities Regulatory Commission Responds to Foreign Asset Managers’ FMC Applications

Feedback on recent applications to the China Securities Regulatory Commission provides some clarity on what will be expected from foreign asset managers wishing to establish fund management companies in the Chinese domestic…more

Asset Management, China, China Securities Regulatory Commission (CSRC), Financial Markets, Foreign Corporations

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National Telecommunications and Information Administration Seeks Input on US Spectrum Strategy

The US Commerce Department’s National Telecommunications and Information Administration (NTIA), the executive branch’s advisor and representative on spectrum policy, recently launched a public inquiry to develop the National…more

5G Network, NTIA, Public Comment, Telecommunications, Wireless Industry

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Copyright, Patent, or Trade Secret Protection for AI Content: Challenges and Considerations

From creative endeavors like art and music to practical applications like translation and weather forecasting, artificial intelligence (AI) is producing more and more content and being used by inventors. Given the nuances in how…more

Artificial Intelligence, Authorship, Computer-Related Inventions, Copyright, European Patent Office

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China Releases Standard Contractual Clauses for Cross-Border Data Transfers

The Cyberspace Administration of China released for public consultation its long-awaited template for the cross-border data transfer agreement on June 30, 2022, under the draft Provisions on the Prescribed Agreement on…more

China, Corporate Counsel, Cross-Border Transactions, Data Processors, EU

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In Key FCA Scienter Opinion, US Supreme Court Turns Focus on Subjective Intent

The United States Supreme Court held on June 1 that the False Claims Act’s (FCA) scienter element requires analysis of the defendant’s subjective intent at the time of the alleged false claim, and that a defendant can be liable…more

Drug Pricing, Fair Credit Reporting Act (FCRA), False Claims Act (FCA), Medicaid, Medicare

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Manifest Error: Narrow ‘Howler’ Interpretation Maintained by UK Supreme Court

In Sara & Hossein Asset Holdings Limited v. Blacks Outdoor Retail Limited, the UK Supreme Court confirmed that the term “manifest error” should be construed narrowly. The case concerns a “conclusive certification” clause in…more

Breach of Contract, Certifications, Commercial Tenants, Manifest Error, UK

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Understanding EU and UK Climate Disclosure and Anti-Greenwashing Regimes

Amid a rise of environmental, social, and governance (ESG) investing and initiatives, the European Union and United Kingdom have set their sights on efforts to combat greenwashing in the financial sector. Regulations implemented…more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Financial Conduct Authority (FCA), Greenwashing

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

See all updates »

Holding AI Accountable: NTIA Seeks Public Input to Develop Policy

As artificial intelligence (AI) powered applications continue to increase in popularity, the National Telecommunications and Information Administration (NTIA) now seeks comments and public input with the aim of crafting a report…more

Artificial Intelligence, Comment Period, Copyright, Intellectual Property Protection, Machine Learning

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Race Around the World to Achieve Net Zero Energy Consumption

Since the 2015 Paris Agreement, countries around the globe have been analyzing their energy and development strategies and planning to meet their commitments. While some countries have made progress by, among other things,…more

Carbon Capture and Sequestration, Carbon Emissions, Climate Change, Energy Efficiency, Energy Policy

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Proposed H-1B Modernization – A Conversation with Shannon Donnelly

As part of our Spotlight series, we invited Shannon Donnelly, a partner in our Washington, DC office who works with clients on a wide range of complex global immigration and mobility issues, to discuss the proposed H1B…more

Foreign Nationals, Foreign Workers, H-1B, Immigrants, Immigration Procedures

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IRS Proposes One-Year Limit on Use of Forfeitures in Defined Contribution Plans

The Internal Revenue Service (IRS) recently issued proposed regulations that would require forfeitures in defined contribution plans—i.e., unvested benefits forfeited by terminating defined contribution plan participants—to be…more

Benefit Plan Sponsors, Defined Contribution Plans, Employee Benefits, Forfeiture, IRS

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action…more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

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California Further Bolsters its Prohibitions on Noncompete Agreements

On the heels of the enactment of Senate Bill 699, which fortified California’s restrictions on noncompete agreements and other restrictive covenants and provided additional employee protections, California has once more…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Non-Solicitation Agreements, Restrictive Covenants

See all updates »

New York State Year-End Legislative Developments for Employers to Know

New York recently enacted a number of laws and rules affecting New York employers, many of which took effect immediately. Some of these laws are significant, including changes to the confidentiality preference agreements…more

Corporate Counsel, Employee Rights, Employer Liability Issues, Employment Discrimination, Separation Agreement

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Split SEC Adopts New and Amended Rules Overhauling Private Fund Industry

On August 23, 2023, the US Securities and Exchange Commission (SEC) voted 3-2 to adopt new and amended rules under the Investment Advisers Act of 1940, as amended (Advisers Act) that will impose additional requirements on…more

Investment Adviser, Investment Advisers Act of 1940, Private Funds, Registered Investment Advisors, Securities and Exchange Commission (SEC)

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DOJ Releases 2023 Fraud Section Year in Review

In recent weeks, the US Department of Justice (DOJ) Criminal Division’s Fraud Section released its annual Year in Review report, summarizing the Fraud Section’s accomplishments in 2023. This detailed account points to a…more

Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions, Fraud, Healthcare Fraud

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

DOL Guidance on Missing Participants Is No Longer Missing

The US Department of Labor (DOL) provided three long-awaited pieces of sub-regulatory guidance on January 12 on the issues of missing participants and uncashed checks. This is an area that has been the subject of a focused DOL…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary, Missing Plan Participants

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CARES Act and Federal Reserve Offer Economic Assistance to Stabilize US Economy (UPDATED)

The Federal Reserve took additional actions on April 9 to provide up to $2.3 trillion in loans to support the US economy during the coronavirus (COVID-19) pandemic. This LawFlash covers the new and expanded programs, and…more

CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus, Main Street Lending Programs

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Role of Antitrust Laws in Labor Markets, Including in the Energy Field, Remains Key Focus of Enforcers

As noted in this article by Morgan Lewis antitrust lawyers, the role of antitrust laws in labor markets, including in the energy field, remains a key area of focus by enforcers, including the Antitrust Division of the US…more

Antitrust Litigation, Energy Sector, Risk Management

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CDC Issues Health Recommendations for Vaccinated People; States Begin Issuing Vaccine Guidance

The Centers for Disease Control and Prevention (CDC) issued public health recommendations for fully vaccinated people that provide guidance on activities these individuals can engage in as well as ongoing precautions of which to…more

Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, DFEH, Health and Safety, Infectious Diseases

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Medicare Advantage: Managed Care Compliance in 2024

The Medicare program is broken down into four parts. Part A covers the cost of healthcare items and services provided during inpatient hospital stays as well as skilled nursing facility, hospice, and some home health care. Part…more

Centers for Medicare & Medicaid Services (CMS), Fee-for-Service, Health Care Providers, Medicare, Medicare Advantage

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving…more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

See all updates »

Regulatory Scrutiny of the Buy Now, Pay Later Industry

Since 2019, “buy now, pay later” (BNPL) loans have been a popular option among consumers and retailers alike. In the last few years, however, the BNPL industry has undergone explosive growth due, in large part, to increased…more

Buy Now Pay Later (BNPL), Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

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Still Hot: Why Global Sports Keep Attracting Record-Breaking Investments

Private equity firms, financial sponsors, and sovereign wealth funds continue to invest in global sports organizations. Financial sponsor–led investments were more prevalent at the beginning of the century in Europe and…more

Institutional Investors, Investors, MLB, NBA, NFL

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following: …more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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SEC Adopts New Dealer Rules to Capture Liquidity Providers

On February 6, 2024, the US Securities and Exchange Commission (SEC) adopted new Rules 3a5-4 and 3a44-2 (the Final Rules) under the Securities Exchange Act of 1934 (the Exchange Act) to further define what it means to be engaged…more

Broker-Dealer, Enforcement Actions, Investment Adviser, Securities and Exchange Commission (SEC), Securities Exchange Act

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Anti-Bribery And Corruption Survey Report

Survey: Tech gaps, third parties pose biggest ABAC threats - Compliance professionals surveyed regarding their anti-bribery and corruption efforts (ABAC) indicated resource support deficiencies in areas including staffing and…more

Anti-Bribery, Anti-Corruption, Bribery, Compliance, Corruption

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US Tax Court Decision Opens Limited Partners to Self-Employment Tax Exposure

Private equity, hedge fund, and other investment fund sponsors should be aware of the recent development in the Internal Revenue Service’s (IRS’s) audit campaign with respect to potential liability for Self-Employment…more

Income Taxes, IRS, Limited Liability Company (LLC), Limited Partnerships, Self-Employment Tax

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FTC Settlements Provide Updated Guidance on Collection or Use of Geolocation Data

The Federal Trade Commission (FTC) recently reached two settlements in actions against data brokers concerning their use of consumer location data and banning them from collecting, using, or selling consumer location data…more

Data Brokers, Data Collection, Federal Trade Commission (FTC), FTC Act, Geolocation

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US Offshore Wind Roundup as of March 2023

Despite global economic headwinds, the US offshore wind industry has continued to slowly but steadily blossom, driven largely by enhanced vision and cooperation among federal government agencies under the Biden administration,…more

Biden Administration, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Offshore Wind

See all updates »

Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not…more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

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EPA Releases Proposed Resource Conservation and Recovery Act PFAS Rules

The US Environmental Protection Agency (EPA) published on February 8, 2024 two proposed rules addressing per- and polyfluoroalkyl substances (PFAS) under the Resource Conservation and Recovery Act (RCRA). The rules, if finalized…more

Environmental Protection Agency (EPA), Hazardous Substances, Hazardous Waste, PFAS, RCRA

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DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting…more

Artificial Intelligence, Department of Justice (DOJ), Fraud, Securities and Exchange Commission (SEC), Self-Disclosure Requirements

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Coronavirus v. GDPR: Suspending Data Privacy Protection During Civil Crisis - The eData Guide To GDPR

The EU General Data Protection Regulation allows the temporary suspension of some data-protection rights in times of crisis, such as the outbreak of the 2019 Novel Coronavirus. This installment of The eData Guide to GDPR…more

Best Practices, China, Coronavirus/COVID-19, Crisis Management, Emergency Management Plans

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State Consumer Privacy Laws: New Privacy Laws in Texas, Oregon, and Montana Take Effect in 2024

Beginning July 1, 2024, Texas and Oregon will join the growing list of states with active consumer privacy laws, with Montana joining them on October 1. The new laws are similar to existing state data privacy laws in that they…more

Consumer Privacy Rights, Cybersecurity, Data Privacy, Data Protection, Data Security

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Statement of Changes to UK Immigration Rules Announced (Updated)

The UK government published a Statement of Changes to the Immigration Rules, providing details for the much-anticipated changes to sponsored worker salary thresholds, the new Immigration Salary List, and increased income…more

Foreign Nationals, Foreign Workers, Immigrants, Immigration Procedures, UK

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Pharma Review - Issue 3

Welcome to the third issue of the Morgan Lewis Pharma Review, which summarizes key recent cases from the Federal Circuit and district courts that impact the pharma space, including Federal Circuit and district court decisions in…more

Abbreviated New Drug Application (ANDA), Antitrust Division, Claim Construction, Hatch-Waxman, Inter Partes Review (IPR) Proceeding

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met…more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

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The COVID-19 Test for Compensation Committees

Compensation Committees are addressing whether compensation should be adjusted to reflect the effect of the coronavirus (COVID-19) pandemic on companies’ businesses and how to correlate executive compensation with changing…more

Compensation Committee, Coronavirus/COVID-19, Executive Compensation, Publicly-Traded Companies

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UAE Central Bank Takes Measures in Response to COVID-19

Measures under the Targeted Economic Support Scheme include allowing UAE banks to temporarily defer loan repayments and extend existing facilities for corporate and retail clients…more

Banks, Coronavirus/COVID-19, Deferred Action, Loans, Retail Banks

See all updates »

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

Great Atlantic & Pacific Tea Co. – Giving Structure to a Structured Dismissal

Most corporate bankruptcy filings result in either a plan of reorganization under Chapter 11 of the Bankruptcy Code (the Code) or a liquidation under Chapter 7 of the Code. Sometimes, however, neither option is viable and the…more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Structured Dismissals

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Debtors Need Not Apply? Continuing Developments on the SBA’s Authority to Deny PPP Loans to Debtor Applicants

The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the…more

Bankruptcy Code, CARES Act, Commercial Bankruptcy, Coronavirus/COVID-19, Debtors

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False Claims Act: Defense-related Enforcement in Fy 2023 and on the Horizon

The headlines from the US Department of Justice’s (DOJ’s) recently released fiscal year 2023 civil fraud statistics may, on the surface, seem unremarkable. Indeed, the $2.7 billion topline number—reflecting total recoveries from…more

Department of Defense (DOD), Department of Justice (DOJ), False Claims Act (FCA), Federal Contractors

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Tailoring Shareholder Reports: SEC Finalizes Amendments to Registered Fund Shareholder Reporting Requirements

The US Securities and Exchange Commission (SEC) recently finalized rule and form amendments (Adopted Rules) that require mutual funds and most exchange-traded funds (ETFs) to provide shareholders with streamlined and “visually…more

Corporate Governance, Reporting Requirements, Securities and Exchange Commission (SEC), Shareholders

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HKEX: Changes to Treasury Share Listing Rules Effective 11 June 2024

Hong Kong Exchanges and Clearing Limited (HKEX) concluded its consultation on proposed rule amendments to introduce a new treasury share regime. All changes were approved with minor modifications based on market comments. This…more

HKEx, Hong Kong, Hong Kong Stock Exchange, Listing Rules

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Singapore High Court Dismisses Application to Restrain Former Employee from Accepting Work with Competitor

In Shopee Singapore Private Limited v Lim Teck Yong [2024] SGHC 29 (Shopee v Lim), the Singapore High Court (HC) heard and dismissed an application by an international ecommerce platform, Shopee, to restrain its former employee…more

Employer Liability Issues, Employment Contract, Employment Litigation, Singapore, TikTok

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UK FCA Requests Consultation on Proposed Listing Rule Reforms

The UK Financial Conduct Authority (FCA) recently launched a consultation on proposed reforms to its Listing Rules, designed to enhance the attractiveness of UK markets for companies seeking to go public. The proposed changes…more

Capital Markets, Corporate Governance, Financial Conduct Authority (FCA), Listing Rules, Publicly-Traded Companies

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SEC Releases Draft Strategic Plan for Fiscal Years 2022 to 2026

The US Securities and Exchange Commission recently released its draft Strategic Plan for fiscal years 2022 to 2026 for public comment. The Strategic Plan sets forth the following three key goals for the Securities and Exchange…more

Capital Markets, Comment Period, Cybersecurity, Financial Reporting, Internal Controls

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UK FCA Requests Consultation on Proposed Listing Rule Reforms

The UK Financial Conduct Authority (FCA) recently launched a consultation on proposed reforms to its Listing Rules, designed to enhance the attractiveness of UK markets for companies seeking to go public. The proposed changes…more

Capital Markets, Corporate Governance, Financial Conduct Authority (FCA), Listing Rules, Publicly-Traded Companies

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C-Pace Financing: Exploring the Benefits and Risks

With real estate market conditions continuing to remain in flux, many developers and operators of real estate have been left searching for new partners and capital providers to finance acquisitions and development. One option…more

Mortgage Lenders, Mortgages, Property Tax, Real Estate Market

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UK FCA Requests Consultation on Proposed Listing Rule Reforms

The UK Financial Conduct Authority (FCA) recently launched a consultation on proposed reforms to its Listing Rules, designed to enhance the attractiveness of UK markets for companies seeking to go public. The proposed changes…more

Capital Markets, Corporate Governance, Financial Conduct Authority (FCA), Listing Rules, Publicly-Traded Companies

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SVB and Distressed Banks: Lessons Learned from a Wild Weekend

US governmental authorities, including the US Department of the Treasury, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation, took actions to provide both insured and uninsured…more

Banking Sector, Deposit Accounts, Deposit Insurance, Depository Institutions, FDIC

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Why Reliable Hydrogen Supply Plays a Critical Role in the Adoption of Fuel Cell Technologies

As the hydrogen industry continues to develop and evolve, many industries, including the manufacturing, transportation, construction, industrial, and retail industries have transitioned parts of their operations to incorporate…more

Carbon Emissions, Clean Energy, Environmental Protection Agency (EPA), Greenhouse Gas Emissions, Hydrogen Power

See all updates »

The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

New Chinese Administrative Forum, CNIPA, Issues First Patent Infringement Decisions Against Generic Drug Makers

The China National Intellectual Property Administration, a newly established administrative authority on patent infringement disputes, recently issued its first decisions, addressing questions many companies had on the practical…more

China, CNIPA, Corporate Counsel, Generic Drugs, Intellectual Property Protection

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What’s Driving the Future of Asia’s Tech Scene: Key Trends and Regulatory Updates

Heading into 2023, Asia’s tech scene is well-positioned for strong growth potential. As with any industry where advancement and innovation are outpacing regulation, the complex landscape can be difficult for businesses to…more

Asia, CFIUS, Data Privacy, Digital Assets, Due Diligence

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AI Regulation in India: Current State and Future Perspectives

Artificial intelligence (AI) presents big opportunities and potential risks for countries around the globe, and India is no exception. India has a vast, burgeoning high-tech labor force. The country also attracts millions of…more

Artificial Intelligence, Innovative Technology, OECD, Technology Sector

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Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational…more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

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Deadline Approaches for the BE-12 Benchmark Survey for Foreign Direct Investment in the US

The US Department of Commerce’s Bureau of Economic Analysis’s BE-12 Benchmark Survey for Foreign Direct Investment in the United States is due by May 31, 2023, or June 30, 2023 for reports submitted via eFile…more

Benchmarks, Bureau of Economic Analysis, Foreign Direct Investment, Foreign Investment, Form BE-12

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The Name Game: SEC Proposes Expanding Scope of Registered Funds’ ‘Names Rule’

In a 3-1 vote, the US Securities and Exchange Commission on May 25 proposed amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Names Rule) that, if adopted as proposed, could cause new entrants and existing…more

Comment Period, Environmental Social & Governance (ESG), Investment Company Act of 1940, Proposed Amendments, Public Comment

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MAS Introduces Further Investor Protection Measures for Digital Payment Token Service Providers

The Monetary Authority of Singapore recently published the second part of its response to the consultation paper proposing regulatory measures for providers of digital payment token services under the Payment Services Act 2019…more

Conflicts of Interest, Disclosure Requirements, Financial Services Industry, Monetary Authority of Singapore, Singapore

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CMS Increases Hospice Scrutiny through Provider Enrollment and Oversight Tools

The US Centers for Medicare & Medicaid Services (CMS) has implemented a final rule, effective November 13, 2023, designed to enhance the oversight of hospice providers throughout the United States and increase regulatory…more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Health Care Providers, Medicare, Physicians

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AIFMD II Enters into Force: Key Changes to EU Fund Regime

After several years of negotiations between the European Commission, European Council, and European Parliament following the publication of the initial draft proposal in November 2021, AIFMD II was published in the Official…more

Alternative Investment Fund Managers Directive (AIFMD), EU, European Economic Area (EEA), Investment Funds

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District Court Rules in Favor of RMBS Issuers in Long-Running ERISA Challenge

The US District Court for the Southern District of New York recently ruled in favor of issuers of residential mortgage-backed securities (RMBS) in a case that was a long-running challenge to the Employee Retirement Income…more

Breach of Duty, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Pensions

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Once Again #1: Health Care Fraud Leads DOJ False Claims Act Recoveries in 2024

The US Department of Justice (DOJ) Civil Division released its annual fraud statistics on February 22, highlighted by False Claims Act (FCA) settlements and judgments exceeding $2.68 billion in fiscal year 2023. DOJ released…more

Department of Justice (DOJ), False Claims Act (FCA), Health Care Providers, Healthcare Fraud, Kickbacks

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Hospice Update: March Goes Out Like a Lion

The old adage—March comes in like a lion and goes out like a lamb—didn’t quite hold true for the hospice sector, which experienced a late-month flurry of activity. The government gave the hospice sector a lot to consider, from…more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Health Care Providers, Hospice, Medicare

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Asia-Pacific Business Travel: Entry Ban Updates and Vaccine, Quarantine Requirements

As the COVID-19 landscape continues to evolve, multinational employers face many questions, challenges, and opportunities when considering how to resume global business travel. To help interested parties plan for Asia-Pacific…more

Asia Pacific, Business Travel, China, Coronavirus/COVID-19, Employer Liability Issues

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SEC Approves December 1 as Required Compliance Date for Listing Exchange Clawback Requirements

The Securities and Exchange Commission (SEC) approved on June 9 amended versions of the listing exchange standards by the New York Stock Exchange and Nasdaq. Consequently, the clawback rules will become effective on Monday,…more

Clawbacks, Nasdaq, NYSE, Securities and Exchange Commission (SEC)

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US Offshore Wind Roundup as of March 2023

Despite global economic headwinds, the US offshore wind industry has continued to slowly but steadily blossom, driven largely by enhanced vision and cooperation among federal government agencies under the Biden administration,…more

Biden Administration, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Offshore Wind

See all updates »

SEC Adopts New Private Fund Adviser Rules with Nuanced Application to Non-US Advisers

The US Securities and Exchange Commission (SEC) recently adopted sweeping new rules under the Investment Advisers Act of 1940 (Advisers Act) that apply in certain circumstances to non-US advisers to private investment funds…more

Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds, Securities and Exchange Commission (SEC)

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California Retroactively Extends Sick Leave Coverage for Employees Affected by COVID-19

California Governor Gavin Newsom signed into law Senate Bill 95 (SB 95) on March 19, 2021. SB 95 requires employers to provide employees with supplemental paid sick leave (CSPSL) for various absences related to COVID-19 and…more

Coronavirus/COVID-19, Infectious Diseases, New Legislation, Relief Measures, Sick Leave

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the…more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

See all updates »

DOJ Emphasizes Importance of Antitrust Compliance Programs for HR Professionals

The US Department of Justice’s Antitrust Division recently stated that antitrust compliance programs must include training for human resources professionals on issues such as wage-fixing and no-poach agreements in order to be…more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Competition, Department of Justice (DOJ)

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Major California Corporate Tax Refund Opportunity for Multinational Corporations

Microsoft's recent California Office of Tax Appeals win results in the opportunity for significant California corporate tax refunds for taxpayers with dividends from foreign affiliates…more

Corporate Taxes, Income Taxes, Tax Appeals, Tax Refunds, Tax Returns

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Venezuelan Employers Must Immediately Put Outsourced Employees on Payroll

The grace period for implementation has expired. Venezuelan employers were required to incorporate outsourced employees into their payroll as of May 7 to meet the deadline for the 2012 Organic Law of Labor and Workers…more

Employer Mandates, Independent Contractors, Outsourcing, Temporary Employees, Venezuela

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Publicly Traded Companies: Don’t Forget to Register Plan Interests in Deferred Compensation Plans

Publicly traded companies generally file registration statements on Form S-8 to register the offering of the company’s stock pursuant to the company’s equity incentive plans under the Securities Act of 1933, as amended…more

Deferred Compensation, Form S-8, Publicly-Traded Companies, Registration Statement, Securities Act of 1933

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Hong Kong Securities and Futures Commission Consults on Regulation of Virtual Asset Trading Platforms

To prepare for commencement of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance regime for virtual asset service providers, the Hong Kong Securities and Futures Commission is conducting a consultation on the…more

AML/CFT, Anti-Money Laundering, Financial Institutions, Hong Kong Securities and Futures Commission (HKSFC), Terrorist Financing Regulations

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JD Supra Privacy Policy

Updated: Dec 28, 2021:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

This Privacy Policy describes how JD Supra, LLC ("JD Supra" or "we," "us," or "our") collects, uses and shares personal data collected from visitors to our website (located at www.jdsupra.com) (our "Website") who view only publicly-available content as well as subscribers to our services (such as our email digests or author tools)(our "Services"). By using our Website and registering for one of our Services, you are agreeing to the terms of this Privacy Policy.

Please note that if you subscribe to one of our Services, you can make choices about how we collect, use and share your information through our Privacy Center under the "My Account" dashboard (available if you are logged into your JD Supra account).

Collection of Information

Registration Information. When you register with JD Supra for our Website and Services, either as an author or as a subscriber, you will be asked to provide identifying information to create your JD Supra account ("Registration Data"), such as your:

  • Email
  • First Name
  • Last Name
  • Company Name
  • Company Industry
  • Title
  • Country

Other Information: We also collect other information you may voluntarily provide. This may include content you provide for publication. We may also receive your communications with others through our Website and Services (such as contacting an author through our Website) or communications directly with us (such as through email, feedback or other forms or social media). If you are a subscribed user, we will also collect your user preferences, such as the types of articles you would like to read.

Information from third parties (such as, from your employer or LinkedIn): We may also receive information about you from third party sources. For example, your employer may provide your information to us, such as in connection with an article submitted by your employer for publication. If you choose to use LinkedIn to subscribe to our Website and Services, we also collect information related to your LinkedIn account and profile.

Your interactions with our Website and Services: As is true of most websites, we gather certain information automatically. This information includes IP addresses, browser type, Internet service provider (ISP), referring/exit pages, operating system, date/time stamp and clickstream data. We use this information to analyze trends, to administer the Website and our Services, to improve the content and performance of our Website and Services, and to track users' movements around the site. We may also link this automatically-collected data to personal information, for example, to inform authors about who has read their articles. Some of this data is collected through information sent by your web browser. We also use cookies and other tracking technologies to collect this information. To learn more about cookies and other tracking technologies that JD Supra may use on our Website and Services please see our "Cookies Guide" page.

How do we use this information?

We use the information and data we collect principally in order to provide our Website and Services. More specifically, we may use your personal information to:

  • Operate our Website and Services and publish content;
  • Distribute content to you in accordance with your preferences as well as to provide other notifications to you (for example, updates about our policies and terms);
  • Measure readership and usage of the Website and Services;
  • Communicate with you regarding your questions and requests;
  • Authenticate users and to provide for the safety and security of our Website and Services;
  • Conduct research and similar activities to improve our Website and Services; and
  • Comply with our legal and regulatory responsibilities and to enforce our rights.

How is your information shared?

  • Content and other public information (such as an author profile) is shared on our Website and Services, including via email digests and social media feeds, and is accessible to the general public.
  • If you choose to use our Website and Services to communicate directly with a company or individual, such communication may be shared accordingly.
  • Readership information is provided to publishing law firms and companies and authors of content to give them insight into their readership and to help them to improve their content.
  • Our Website may offer you the opportunity to share information through our Website, such as through Facebook's "Like" or Twitter's "Tweet" button. We offer this functionality to help generate interest in our Website and content and to permit you to recommend content to your contacts. You should be aware that sharing through such functionality may result in information being collected by the applicable social media network and possibly being made publicly available (for example, through a search engine). Any such information collection would be subject to such third party social media network's privacy policy.
  • Your information may also be shared to parties who support our business, such as professional advisors as well as web-hosting providers, analytics providers and other information technology providers.
  • Any court, governmental authority, law enforcement agency or other third party where we believe disclosure is necessary to comply with a legal or regulatory obligation, or otherwise to protect our rights, the rights of any third party or individuals' personal safety, or to detect, prevent, or otherwise address fraud, security or safety issues.
  • To our affiliated entities and in connection with the sale, assignment or other transfer of our company or our business.

How We Protect Your Information

JD Supra takes reasonable and appropriate precautions to insure that user information is protected from loss, misuse and unauthorized access, disclosure, alteration and destruction. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. You should keep in mind that no Internet transmission is ever 100% secure or error-free. Where you use log-in credentials (usernames, passwords) on our Website, please remember that it is your responsibility to safeguard them. If you believe that your log-in credentials have been compromised, please contact us at privacy@jdsupra.com.

Children's Information

Our Website and Services are not directed at children under the age of 16 and we do not knowingly collect personal information from children under the age of 16 through our Website and/or Services. If you have reason to believe that a child under the age of 16 has provided personal information to us, please contact us, and we will endeavor to delete that information from our databases.

Links to Other Websites

Our Website and Services may contain links to other websites. The operators of such other websites may collect information about you, including through cookies or other technologies. If you are using our Website or Services and click a link to another site, you will leave our Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We are not responsible for the data collection and use practices of such other sites. This Policy applies solely to the information collected in connection with your use of our Website and Services and does not apply to any practices conducted offline or in connection with any other websites.

Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

  • Our Legal Basis for Processing: Generally, we rely on our legitimate interests in order to process your personal information. For example, we rely on this legal ground if we use your personal information to manage your Registration Data and administer our relationship with you; to deliver our Website and Services; understand and improve our Website and Services; report reader analytics to our authors; to personalize your experience on our Website and Services; and where necessary to protect or defend our or another's rights or property, or to detect, prevent, or otherwise address fraud, security, safety or privacy issues. Please see Article 6(1)(f) of the E.U. General Data Protection Regulation ("GDPR") In addition, there may be other situations where other grounds for processing may exist, such as where processing is a result of legal requirements (GDPR Article 6(1)(c)) or for reasons of public interest (GDPR Article 6(1)(e)). Please see the "Your Rights" section of this Privacy Policy immediately below for more information about how you may request that we limit or refrain from processing your personal information.
  • Your Rights
    • Right of Access/Portability: You can ask to review details about the information we hold about you and how that information has been used and disclosed. Note that we may request to verify your identification before fulfilling your request. You can also request that your personal information is provided to you in a commonly used electronic format so that you can share it with other organizations.
    • Right to Correct Information: You may ask that we make corrections to any information we hold, if you believe such correction to be necessary.
    • Right to Restrict Our Processing or Erasure of Information: You also have the right in certain circumstances to ask us to restrict processing of your personal information or to erase your personal information. Where you have consented to our use of your personal information, you can withdraw your consent at any time.

You can make a request to exercise any of these rights by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

  • Timeframe for retaining your personal information: We will retain your personal information in a form that identifies you only for as long as it serves the purpose(s) for which it was initially collected as stated in this Privacy Policy, or subsequently authorized. We may continue processing your personal information for longer periods, but only for the time and to the extent such processing reasonably serves the purposes of archiving in the public interest, journalism, literature and art, scientific or historical research and statistical analysis, and subject to the protection of this Privacy Policy. For example, if you are an author, your personal information may continue to be published in connection with your article indefinitely. When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
  • Onward Transfer to Third Parties: As noted in the "How We Share Your Data" Section above, JD Supra may share your information with third parties. When JD Supra discloses your personal information to third parties, we have ensured that such third parties have either certified under the EU-U.S. or Swiss Privacy Shield Framework and will process all personal data received from EU member states/Switzerland in reliance on the applicable Privacy Shield Framework or that they have been subjected to strict contractual provisions in their contract with us to guarantee an adequate level of data protection for your data.

California Privacy Rights

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

Access/Correct/Update/Delete Personal Information

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to privacy@jdsupra.com. We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to privacy@jdsupra.com.

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

If you have any questions about this Privacy Policy, the practices of this site, your dealings with our Website or Services, or if you would like to change any of the information you have provided to us, please contact us at: privacy@jdsupra.com.

JD Supra Cookie Guide

As with many websites, JD Supra's website (located at www.jdsupra.com) (our "Website") and our services (such as our email article digests)(our "Services") use a standard technology called a "cookie" and other similar technologies (such as, pixels and web beacons), which are small data files that are transferred to your computer when you use our Website and Services. These technologies automatically identify your browser whenever you interact with our Website and Services.

How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

  1. Improve the user experience on our Website and Services;
  2. Store the authorization token that users receive when they login to the private areas of our Website. This token is specific to a user's login session and requires a valid username and password to obtain. It is required to access the user's profile information, subscriptions, and analytics;
  3. Track anonymous site usage; and
  4. Permit connectivity with social media networks to permit content sharing.

There are different types of cookies and other technologies used our Website, notably:

  • "Session cookies" - These cookies only last as long as your online session, and disappear from your computer or device when you close your browser (like Internet Explorer, Google Chrome or Safari).
  • "Persistent cookies" - These cookies stay on your computer or device after your browser has been closed and last for a time specified in the cookie. We use persistent cookies when we need to know who you are for more than one browsing session. For example, we use them to remember your preferences for the next time you visit.
  • "Web Beacons/Pixels" - Some of our web pages and emails may also contain small electronic images known as web beacons, clear GIFs or single-pixel GIFs. These images are placed on a web page or email and typically work in conjunction with cookies to collect data. We use these images to identify our users and user behavior, such as counting the number of users who have visited a web page or acted upon one of our email digests.

JD Supra Cookies. We place our own cookies on your computer to track certain information about you while you are using our Website and Services. For example, we place a session cookie on your computer each time you visit our Website. We use these cookies to allow you to log-in to your subscriber account. In addition, through these cookies we are able to collect information about how you use the Website, including what browser you may be using, your IP address, and the URL address you came from upon visiting our Website and the URL you next visit (even if those URLs are not on our Website). We also utilize email web beacons to monitor whether our emails are being delivered and read. We also use these tools to help deliver reader analytics to our authors to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

Analytics/Performance Cookies. JD Supra also uses the following analytic tools to help us analyze the performance of our Website and Services as well as how visitors use our Website and Services:

  • HubSpot - For more information about HubSpot cookies, please visit legal.hubspot.com/privacy-policy.
  • New Relic - For more information on New Relic cookies, please visit www.newrelic.com/privacy.
  • Google Analytics - For more information on Google Analytics cookies, visit www.google.com/policies. To opt-out of being tracked by Google Analytics across all websites visit http://tools.google.com/dlpage/gaoptout. This will allow you to download and install a Google Analytics cookie-free web browser.

Facebook, Twitter and other Social Network Cookies. Our content pages allow you to share content appearing on our Website and Services to your social media accounts through the "Like," "Tweet," or similar buttons displayed on such pages. To accomplish this Service, we embed code that such third party social networks provide and that we do not control. These buttons know that you are logged in to your social network account and therefore such social networks could also know that you are viewing the JD Supra Website.

Controlling and Deleting Cookies

If you would like to change how a browser uses cookies, including blocking or deleting cookies from the JD Supra Website and Services you can do so by changing the settings in your web browser. To control cookies, most browsers allow you to either accept or reject all cookies, only accept certain types of cookies, or prompt you every time a site wishes to save a cookie. It's also easy to delete cookies that are already saved on your device by a browser.

The processes for controlling and deleting cookies vary depending on which browser you use. To find out how to do so with a particular browser, you can use your browser's "Help" function or alternatively, you can visit http://www.aboutcookies.org which explains, step-by-step, how to control and delete cookies in most browsers.

Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

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