On March 31, 2025, a Joint Committee (JC) comprised of the European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority published a report (JC Report) on the...more
The evolution of critical and emerging technologies continues to affect how the United States and its international allies and partners uniformly protect against national security threats. For industry, the strengthening of...more
Congress is back in session with a loaded agenda for the lame duck period. One of the top issues the life sciences industry is tracking is the potential passage of the BIOSECURE Act. Speaker Johnson has signaled the House...more
On September 19, 2024, Governor Gavin Newsom approved Assembly Bill (AB) 1893 (Wicks), which significantly modifies the “Builder’s Remedy” under the Housing Accountability Act (Government Code section 65589.5 et seq.) (HAA),...more
On September 19, 2024, Governor Gavin Newsom approved Assembly Bill (AB) 2243 (Wicks), which amends AB 2011 (Affordable Housing and High Road Jobs Act of 2022), effective January 1, 2025. As explained in our prior legal...more
Non-U.S. investors are generally subject to U.S. federal income tax on gains from investments in private U.S. real estate investment trusts (REITs). Two exceptions (among others) are for investments in “domestically...more
The EU is harmonising the rules on the prudential supervision of EU branches of non-EU banks under CRD VI. The new EU-wide third country branch regime will introduce minimum requirements including capital and liquidity...more
Final provisions on cross-border banking services in the EU published - CRD VI will bring in uniform minimum prudential requirements for third country branches providing banking services in the EU and, more importantly,...more
Part 2 of the Paul Hastings’ Investment Funds and Private Capital team’s review of the new Private Fund Rules explores the new rules in-depth, and provides additional perspective on market practices that may evolve in...more
On August 23, the Securities and Exchange Commission (SEC) passed a final rule significantly increasing oversight and expanding compliance obligations for all private fund advisers, including exempt reporting advisers (ERAs)...more
On August 23, 2023, the SEC voted (3-2) to adopt new rules and amendments under the Investment Advisers Act of 1940 applicable to private fund advisers (available here), which were initially proposed in February 2022. The...more
Last month, in Cuffaro v Zoning Board of Appeals of the Village of Bellport (Index # 620453/2021), the Suffolk Supreme Court reinforced the existing and binding case law that a municipality’s issuance of a building permit to...more
While reading this client update, the first thing you need to do is keep in mind the date of April 14, 2023. As explained below, that is the last date to submit an interconnection application with your utility provider to...more
Should an old cottage be upgraded to the current code by a new owner? When can a building component be “grandfathered?” Who should pay for the code upgrades following a property loss claim? These are common questions...more
On March 15, 2022, the United States enacted the EB-5 Reform and Integrity Act of 2022 (the 2022 Act) as part of a large omnibus budget package of legislation. The 39-page compromise legislation grandfathers existing workers...more
Maine’s new solar decommissioning law takes effect October 18 and applies to projects that have not commenced construction by October 1, 2021. The law requires solar projects that occupy an area of three or more acres to have...more
The Internal Revenue Service (IRS) recently published final regulations implementing changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) to Section 162(m) of the Internal Revenue Code (Section 162(m)) expanding the scope...more
The number of stockholder rights plans (also known as “poison pills”) adopted in 2020 significantly increased compared to prior years. The collapse in public company equity values during the inception of the COVID-19...more
Pubic companies that sponsor nonqualified deferred compensation plans with grandfathered benefits will want to be aware of helpful payment guidance in the Internal Revenue Code Section 162(m) final regulations. The final...more
Section 162(m) of the Internal Revenue Code of 1986 (as amended, the “Code”) imposes a $1 million deductibility limit on compensation paid by “publicly held corporations” to “covered employees.” As reported in our previous...more
The Departments of Labor (DOL) and Health and Human Services (HHS) and the Treasury have finalized a rule for grandfathered group health plans under the Affordable Care Act (ACA) without making any substantive changes from...more
As the post-Brexit transition period comes to an end on 31 December 2020, options to ensure compliance and uninterrupted trade for businesses placing chemical substances and mixtures on the UK and EU markets are becoming...more
Public companies maintaining deferred compensation arrangements for their executive officers should consider how recent changes to the regulations under Section 162(m) of the Internal Revenue Code (the Code) may impact the...more
Proposed Regulations under Section 4960 of the Internal Revenue Code provide important guidance for tax-exempt organizations and their affiliates regarding an excise tax on certain executive compensation. The U.S. Department...more
The second of a six-part series examining six specific and evolving rights plan provisions. As discussed in greater detail in some of our prior articles, a shareholder rights plan is a defensive measure used by a public...more