Welcome to the August 2023 edition of ‘Avantage concurrentiel par Blakes’ – a monthly update put together by Blakes’ Competition and Antitrust groups and Foreign Investment group. This publication provides an overview of recent developments in Canada’s competition law. It primarily focuses on the enforcement activities of the Canadian Competition Bureau (the “Bureau”) and recent…
On August 28, 2023, an announcement that has generated quite the buzz within the legal community was made: the Social Equity Council (SEC) and Connecticut’s Department of Economic and Community Development (DECD) commenced the operations of the long-awaited Canna-Business Revolving Loan Fund. The fund, which aims to provide licensed Connecticut social equity cannabis business owners…
Analysis of operations at Silicon Valley Bank (SVB) has suggested some questionable management practices. Among these, the decision to house two built-in wine cellars within the bank facilities has raised eyebrows. While catering for staff and clients with its own collection may add an air of prestige, critics argue that the bank’s energy would be…
As we approach the end of August 2023, key developments in North Carolina’s political landscape continue to shape the state’s future, particularly in the realm of economic growth. Significant attention is being drawn to North Hills’ new billion-dollar ‘Innovation District’, a project recently covered by The News & Observer. Roughly four years in the making,…
The Internal Revenue Service (IRS) issued a notice on August 25, with an unexpected delay in the implementation of a provision of the SECURE 2.0 Act of 2022. The delay comes as welcomed news to employees participants in a 401(k), 403(b) or governmental 457(b) plan who earn in excess of $145,000 in Social Security wages….
The current employment market presents complications for businesses across sectors. As many companies struggle with finding enough employees to cover shifts, costs for pay increases and recruitment continue to rise. Additionally, inflation and other market pressures are driving up operating costs, impacting bottom lines significantly – a predicament shared by law firms and corporations worldwide….
Meeting regulatory obligations is at the forefront of the organizational strategy for many global corporates, especially within the realm of broadcasting. In this regard, an important deadline for broadcast (radio and television) licensees is rapidly approaching. By September 20, 2023, these licensees are required to fulfill their VY 2023 Regulatory Fees to the Federal Communications…
The New York insurance law landscape saw a significant change in August 2023, courtesy of a high-stakes legal case involving a subcontractor, a construction project owner, and a general contractor. The critical issue in contention was the legal validity and interpretation of an insurance policy exclusion clause for bodily injury to an employee. This landmark…
On August 2, 2023, the California Department of Financial Protection and Innovation (DFPI) issued a final ruling that has significant implications for the world of small business financing. This ruling curbs certain individuals and entities from engaging in unfair, deceptive, or abusive acts or practices (UDAAP) when offering or providing commercial financing or other financial…
In late August, the Michigan Court of Appeals ruled in favor of 3M Company’s objection to the rules established by the Michigan Department of Environment, Great Lakes and Energy (EGLE). These regulations were put in place to control the amount of particular per- and polyfluoroalkyl substances (PFAS) in the drinking water supply. This information was…
On April 28, 2023, the Internal Revenue Service’s (IRS) Office of Chief Counsel underscored the importance of adherence to claims substantiation rules for health flexible spending arrangements (health FSAs) under Internal Revenue Code Section 125. The guidance also expressed disapproval of certain substantiation practices that have gradually become commonplace. This development was reported by law…
Non-disclosure agreements (NDAs) are often the initiatory legal documents signed by parties intending to undertake a transaction. Generally, they are viewed as straightforward documents, finalised at an early stage, allowing for focus on the more significant legal and commercial matters. Simple as they might seem, NDAs carry significant implications and therefore, a deeper understanding is…
The US Department of Health and Human Services (HHS) Office of Inspector General (OIG) recently concluded that certain intraoperative neuromonitoring (IONM) services arrangements are capable of generating prohibited remuneration under federal laws. The findings were part of OIG’s release of Advisory Opinion No. 23-05. This evaluation, which took a deep dive into the formation and…
The U.S. Environmental Protection Agency (EPA) has put forward a proposal to conduct comprehensive revisions to regulations that dictate how Tribes and States can take on the responsibility of administering the Clean Water Act’s (CWA’s) Section 404. This program handles permissive actions relating to the discharge of dredged and fill material into the waters of…
On August 28, 2023, the United States Securities and Exchange Commission (SEC) reached a settlement with Impact Theory, LLC, in a landmark enforcement action examining an offering of non-fungible tokens (NFTs). The SEC claimed that the NFTs were promoted as investments and deemed this an unregistered securities offering – a breach according to Federal securities…
In a significant recent development, the National Labor Relations Board (NLRB) announced a new framework for union representation proceedings through a decision in the Cemex Construction Materials Pacific, LLC case. This announcement signals a substantive change in how employers are obligated to communicate and interact with unions without a representation election. In its landmark decision,…
In a major regulatory shift, the Washington Department of Ecology (Ecology) has issued the first significant amendments to the contaminated site cleanup regulations, Chapter 173-340 WAC, under the Model Toxics Control Act (MTCA) in over two decades. The announcement comes subsequent to a prolonged rulemaking procedure lasting several years. The modifications put forward provide essential…
SEC Chief Accountant Paul Munter recently released a public statement that has drawn the attention of the legal community. In his comment, Munter expressed increased concerns about both management’s and auditors’ risk assessment processes. He made it clear that the risk assessment tasks of these entities should not be undermined. The statement released by Munter…
In the ongoing drama that is the criminal case against former U.S. President Donald Trump, yesterday saw a flurry of orders appearing on the docket. It seems pertinent at this point to clarify that the focus here is on the D.C. criminal case revolving around conspiracy and obstruction allegations, not related cases in New York,…
Vietnamese automaker Vinfast, known for its electric vehicles, recently garnered worldwide attention with its dramatic changes in stock value. On August 28, Vinfast stock surged by 21%, making the company the third most valuable automaker globally, right behind Tesla and Toyota, as reported by Reuters. Despite joining the league of the world’s most valuable automakers,…
The U.S. Environmental Protection Agency (EPA) announced its third issuance of a Toxic Substances Control Act (TSCA) test order on August 15, 2023. This signifies another significant step for per- and polyfluoroalkyl substances’ (PFAS) testing under the scope of EPA’s National PFAS Testing Strategy. The JDSUPRA report on this development, however, does not provide full…
United Nations experts have condemned the recent decision by the Russian Constitutional Court to dismiss challenges against laws criminalizing any public act seeking to discredit the Russian Armed Forces. These new laws, enacted amidst the persisting Russia-Ukraine War, have enabled Russian authorities to arrest over 20,000 people voicing opposition to Russia’s military efforts. The Constitutional…
In a recent legal development, the Southern District of Texas ruled that an appraisal award does not necessarily confirm liability for a covered loss under the policy. An examination of the details and implications of this decision appears to reveal an intriguing juncture in policy interpretations and application. This judgment was rendered in the case…
As the hurricane season looms, it is imperative for corporate leaders and employers to review their workplace policies and procedures, to ensure their organizations are adequately prepared for any potential violent storms. This should not just be a policy review, but an opportunity to update and strengthen their business resilience. Haynsworth Sinkler Boyd, P.A. recommends…
In an important legal shift, the Fifth Circuit Court has expanded the interpretation of potential discrimination claims under Title VII in its recent ruling on Hamilton et al. v. Dallas County. The ruling on August 18, 2023, addresses what was previously seen as an “interpretive incongruity,” altering nearly 30 years of Title VII disparate treatment…