This week the Loan Market Association (“LMA”) published a paper on the introduction of Article 21(c) of the EU’s Capital Requirements Directive1 (Article 21c) (the LMA Paper). With effect from 11 January 2027, Article 21c...more
Insurance claims professionals, coverage counsel, property insurers handling complex renovation or property loss claims, construction attorneys, forensic engineers, building owners, and risk managers involved in renovation...more
As many in the New Jersey commercial real estate industry know, NJDEP’s controversial REAL Rule was adopted on January 20, 2026. Yes, as we reported here, it really happened. Welcome to the REAL Rule Era....more
The EB‑5 Immigrant Investor Program continues to be one of the most reliable pathways for families seeking permanent residency in the United States through investment....more
On March 17, the FHFA amended its “Private Transfer Fee Covenants Regulation,” to reinstate “grandfather” exceptions. The rule restores timing and transitional applicability provisions that exempt mortgages on properties...more
Many EB-5 stakeholders believe that after the EB-5 Reform and Integrity Act (RIA) grandfathering provision expires on September 30, 2026, the EB-5 market will fall off a cliff. This prevailing view among potential EB-5...more
On December 18, 2025, President Trump signed the FY 2026 National Defense Authorization Act (2026 NDAA) into law and enacted the BIOSECURE Act, which restricts the ability of U.S. Executive Agencies to contract with...more
Spain follows the trajectory of other EU Member States that have similarly recalibrated their transitional periods since ESMA first published its consolidated list. ...more
AB 2243 (Wicks) amended AB 2011 effective January 1, 2025. As explained in our prior legal alert, AB 2011 provides for “by right” streamlined ministerial (i.e., no CEQA) approval of qualifying mixed-income and affordable...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