October 2023 – Page 237 – Legal News Feed

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SEC Targets Employee Separation Agreements for Whistleblower Violations: Monolith Case Raises Red Flags

Pieter Gunst3 years ago02 mins

In a recent development, the Securities and Exchange Commission (SEC), US’s top financial watchdog, has targeted employee separation agreements. This follows a settlement with Monolith Resources, LLC, a Nebraska-based energy and technology company, that the SEC had charged with an inappropriate policy. The SEC alleged that Monolith employed separation agreements from February 2020 until March…

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Exelon and ComEd Settle for $46.2M, Highlighting FCPA’s Domestic Reach

Pieter Gunst3 years ago03 mins

In a notable case exemplifying how the Foreign Corrupt Practices Act (FCPA) applies in non-foreign contexts, the Securities and Exchange Commission (SEC) arrived at a settlement with Exelon Corporation and its subsidiary, Commonwealth Edison Company (“ComEd”) on September 28, 2023. The agreement was based on charges alleging that ComEd had for several years participated in…

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Unlocking AI’s Potential in Law: Embracing Machine Learning and Large Language Models Amid Challenges

Pieter Gunst3 years ago02 mins

The incorporation of Artificial Intelligence (AI) into daily operations has come a long way from sci-fi speculation, making it vitally important for legal professionals to understand the opportunities and risks it presents. Noteworthy here are the capabilities of Machine Learning (ML) and Large Language Models (LLMs) when applied in a legal context. AI has fundamentally…

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Employment Law Lessons Emerge from NHL Coach’s Resignation Due to Privacy Rights Issues

Pieter Gunst3 years ago02 mins

Recent developments within the National Hockey League (NHL) have highlighted essential considerations for employers in regards to their employees’ privacy rights. Undoubtedly, Mike Babcock, one of the most esteemed coaches in the league’s history, is a particularly relevant figure in this narrative. With 700 victories under his belt that spans three different teams and a…

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Navigating Earned Wage Access: Implications and Benefits for Employees and Employers

Pieter Gunst3 years ago03 mins

Earned wage access (EWA) has been generating increasing discussion among retail and hospitality industry employers. This financial service, commonly referred to as instant pay, earned income, early wage access, accrued wage access, or on-demand pay, has its roots steeped in offering employees, particularly low-wage and hourly workers, certain levels of their accrued salaries before the…

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North Carolina Expands Medicaid: 600,000 Adults to Gain Affordable Healthcare Access

Pieter Gunst3 years ago02 mins

As of December 1, 2023, North Carolina is set to become the 40th state to implement Medicaid expansion under the Affordable Care Act (ACA). This development is notable for the state, extending Medicaid eligibility to more than 600,000 adults with incomes up to 138% of the federal poverty level (FPL). By implementing the Medicaid expansion,…

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Massachusetts Court Ruling Challenges Mandatory Overtime Policies for Disabled Employees

Pieter Gunst3 years ago02 mins

In an important verdict, the Massachusetts Appeals Court ruled in the case of Tufts Medical Center v. Dalexis et. al., that a hospital employer’s insistence on obligatory overtime constitutes a failure to engage in the interactive process. The court held that the hospital discriminated against and constructively discharged a disabled nurse by not exempting her…

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Navigating Post-Divorce Financial Obligations: Asset Division, Support Payments, and Legal Considerations

Pieter Gunst3 years ago03 mins

Dealing with the aftermath of a divorce isn’t simply an emotional journey, it’s often a complex legal journey too. You might think that the legal headaches end once the divorce is finalized, but that is far from being the case. There are numerous post-divorce considerations to bear in mind, especially pertaining to finances. Understanding the…

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Revisiting Employee vs. Independent Contractor: Analyzing the Upcoming Labor Department Regulations

Pieter Gunst3 years ago03 mins

In a closely watched development, the U.S. Department of Labor is heading towards the implementation of a new regulation related to the classification of “Employee or Independent Contractor” under the Fair Labor Standards Act. This comes nearly a year after the department first issued its proposal for the regulation. However, as anticipated, the proposed rule…

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Washington Supreme Court Rejects Apex Doctrine: Impact on Executive Depositions

Pieter Gunst3 years ago02 mins

In a recent legal development, the Washington Supreme Court has unanimously rejected the application of the “apex doctrine” in the Stratford v. Umpqua Bank case (No. 100717-5) dated September 14, 2023. The apex doctrine, a commonly adopted legal shield in various jurisdictions, has long been a legal tool to prevent high-ranking executives and officers from…

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FDA Advances Regulatory Framework for Laboratory Developed Tests: Implications and Industry Impact

Pieter Gunst3 years ago03 mins

On September 29, 2023, the Food and Drug Administration (FDA) publicly confirmed the completion of its internal regulatory review processes, allowing its proposed rule on laboratory developed tests, or LDTs, to be published shortly in the Federal Register. This announcement, which did not come as a surprise to anyone in the healthcare community, followed closely…

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Government Shutdown Averted, SEC Operations Persist: Implications for Corporate Law Sector

Pieter Gunst3 years ago03 mins

On September 30, 2023, the U.S. Congress passed a stopgap funding bill and with the signature of President Biden, a looming government shutdown was successfully averted. As a result of this decision, the operations of the government will be sustained until November 17, 2023. This resolution provides temporary relief, however, it is merely a stopgap…

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Nobel Prize Honors mRNA Pioneers Karikó and Weissman, Shaping Modern Medicine Amid Pandemic

Pieter Gunst3 years ago03 mins

The world of medicine has recently accorded recognition to two path-breaking researchers, Katalin Karikó and Drew Weissman, who have been awarded the Nobel Prize in Physiology or Medicine. Their crucial discoveries relating to messenger RNA (mRNA) vaccines, particularly pivotal in times of the COVID-19 pandemic, have set a milestone in the study and application of…

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SEC Endorses Amendments to ‘Names Rule’: Implications for Businesses and Legal Firms

Pieter Gunst3 years ago03 mins

On September 20, 2023, the US Securities and Exchange Commission (SEC) endorsed amendments to Rule 35d-1, colloquially referred to as the “names rule,” under the auspices of the Investment Company Act of 1940 (hereafter, 1940 Act). This decision was reached with a notable 4-1 margin favouring the changes. As per these new amendments, the scope…

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Class Certification Granted in Hill’s Pet Nutrition Prescription Diet Lawsuit

Pieter Gunst3 years ago02 mins

It has taken seven years, but a claim lodged by pet owners against company Hill’s Pet Nutrition, regarding their prescription requirement for its Prescription Diet food, has been partly granted class certification by a district court judge in Illinois. The case under scrutiny is Holly Blaine Vanzant v. Hill’s Pet Nutrition, filed in the U.S….

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Amended Ban-the-Box Regulations Set to Impact California Employers in 2023

Pieter Gunst3 years ago03 mins

California employers should prepare for the amended Ban-the-Box regulations that will take effect on October 1, 2023. These revisions pertain to the state’s Fair Chance Act (FCA) and come after over a year of administrative activity dedicated to fine-tuning the policy. The amendments were finalized by the California Civil Rights Council. Changes to a law…

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Axiom Ince Scrambles to Address £64 Million Client Deficit Amid Regulatory Shutdown

Pieter Gunst3 years ago01 mins

In the wake of Axiom Ince’s abrupt shutdown, hitherto authorities at the firm are reportedly laboring to account for the £64 million deficit in the company’s client account. This proactive reaction follows Axiom Ince’s cancellation by the Solicitors Regulation Authority and a concurrent police examination into the firm’s proprietor, as per different stakeholders. A formal…

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Canadian Derivatives Market: New Regulatory Instrument to Enhance Transparency and Accountability

Pieter Gunst3 years ago02 mins

The Canadian Securities Administrators (CSA) recently announced the adoption of Multilateral Instrument 93-101, entitled Derivatives—Business Conduct (The Rule), by the regulatory authorities of each jurisdiction in Canada, with the notable exception of British Columbia. This adoption encompasses a significant change in the regulatory landscape aimed at enhancing accountability and transparency while ensuring stakeholders’ protection. Bennett…

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Proposed EEOC Regulations May Require Policy Changes for Pregnant Workers

Pieter Gunst3 years ago02 mins

The U.S. Equal Employment Opportunity Commission (EEOC) has recently published proposed regulations around the Pregnant Workers Fairness Act (PWFA). The announcement was made on August 11, 2023, with the intention to collect public comments for sixty days before any revisions are initiated or they are passed into law. This development highlights the legal obligations corporations…

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SEC Charges Nine Investment Advisers in Marketing Rule Enforcement Sweep

Pieter Gunst3 years ago02 mins

The U.S. Securities and Exchange Commission (SEC) recently announced charges against nine registered investment advisers for advertising hypothetical performance to the public on their respective websites. Notably, the investment firms failed to adopt or implement the mandatory policies and procedures as outlined by Rule 206(4)-1, popularly known as the ‘Marketing Rule’, under the Investment Advisers…

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Navigating Legal Implications: BakerHostetler’s Comprehensive Weekly Hill Update

Pieter Gunst3 years ago02 mins

The Federal Policy team at BakerHostetler has provided their latest ‘Weekly Hill Update’ for October 2023. This update comes at a time when both chambers of Congress are in session, making this an indispensable read for legal professionals looking to stay informed on Congressional activities. This publication has historically provided essential insights into the mechanics…

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SEC Settlement Underscores Importance of Diligence, Clarity in Employee Separation Agreements

Pieter Gunst3 years ago02 mins

Many corporations and large enterprises use separation agreements with their departing employees as a typical practice. These agreements provide some form of separation benefit for the leaving employee, frequently in the form of a financial payment or severance package. In return, the employee gives up and releases any potential claims they might have against the…

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UK Competition and Markets Authority Sheds Light on AI Foundation Models and Future Regulations

Pieter Gunst3 years ago04 mins

The UK Competition and Markets Authority (CMA) recently released its inaugural report on AI Foundation Models. This document outlines the CMA’s preliminary perspective on the development and deployment of these foundation models. The report also discusses potential future regulatory interventions in the realm of AI. The importance of this report lies in its function as…

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Corporate Transparency Act: New Reporting Obligations for Businesses to Combat Financial Crimes

Pieter Gunst3 years ago03 mins

The latest issue of “SuperVision – Labor & Employment Insights” has shed light on new business reporting obligations for employers under the Corporate Transparency Act. This legislation will take effect from January 1, 2024. Particularly, legal entities incorporated, organized or registered to do business – including LLCs, LLP, PLLC, Inc., Co., etc., in any state…

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Navigating Data Privacy Challenges: Webinar Tackles Evolving U.S. Laws and Best Practices for Legal Teams

Pieter Gunst3 years ago03 mins

Corporate counsel and legal departments of the world’s biggest corporations are grappling with increasingly complex and demanding data-related challenges, particularly in the U.S. where data privacy laws are continuously evolving. These challenges are unique, vast and growing, posing significant litigation risks that need to be addressed promptly and strategically. It is against this backdrop that…