The potential United Auto Workers (UAW) strike and a looming government shutdown pose significant immigration implications for employers in the automotive industry. There’s a need for these organizations to understand the possible impacts these scenarios could have on staff members with immigration considerations. The UAW strike, which the members of the powerful automotive industry labor…
Following recent legal updates, it appears that the New York Legislature is cracking down harder on violators of the state’s telemarketing laws. The penalties for defiance of these rules have been significantly increased. Such developments impact not just the telemarketing industry, but implications may ripple through business sectors relying on telemarketing for their sales and…
In a response to the growing issue of illegal robocalling, the Federal Communications Commission (FCC) has recently decided to update their rules surrounding the Voice over Internet Protocol (VoIP) providers. The update, which took place on September 21, aims to amplify and modernise the existing requirements that these providers need to comply, in order to…
In the realm of Environment, Social, and Governance (ESG) regulatory developments, September 2023 has come in full steam ahead, as reported by JD Supra. Following a brief summer pause, some developments of note have ensued in ESG regulation, including the launch of the final proposals by the Taskforce on Nature-related Financial Disclosures (TNFD). The intent…
The potentially impending federal government shutdown is set to have a substantial effect on the United States Department of Labor enforcement activities. Significant regulatory bodies such as the Occupational Safety and Health Administration (OSHA) will have their operations suspended as a result of such a shutdown. A shutdown would not only disrupt the routine functioning…
On September 26, 2023, Massachusetts lawmakers introduced a significant tax legislation that will potentially alter the region’s corporate taxation landscape. Proposed changes include estate tax relief, closure of a loophole pertaining to the newly imposed millionaire’s tax, along with reductions in short-term capital gains tax, among other aspects. The bill is expected to be submitted…
In the complex landscape of corporate real estate transactions, a common question of importance pertains to when it is appropriate to file a quiet title lawsuit. As many legal professionals in the field are aware, a quiet title lawsuit is a potentially invaluable tool for protecting and defining title rights in real estate. However, its…
A more turbulent week in United States politics has seen the country gradually teeter towards a federal government shutdown. What initially seemed like a last-minute respite is not materializing, making the shutdown increasingly inevitable. The general mood could be best described as a slow, yet distressing slide into the impending shutdown. Within the U.S. Senate,…
In a recent ruling, the Eastern District of Wisconsin has denied a motion to partially dismiss a class action complaint alleging violations of the Telephone Consumer Protection Act (TCPA). This denial, made on September 21, states that the Do Not Call (DNC) provision of the TCPA extends to text messages. This interpretation marks a significant…
The Federal Reserve Board (“FRB”) Inspector General (the “OIG”) has recently issued a report providing a critique of the FRB’s supervision of Silicon Valley Bank (“SVB”). The evaluation focuses on the years preceding Silicon Valley Bank’s failure in March 2023, offering professionals insight into the critical events and conditions of the systemic and regulatory environment….
As the COVID-19 pandemic relief suspending loan payments and interest accruals on federal student loans comes to an end, a significant number of borrowers are faced with the impending resumption of student loan repayments. The cessation of benefits, with interest accruals having resumed September 1, and loan payments set to resume in October, calls for…
In a significant decision that is likely to garner a vast interest from clinical laboratories and medical device manufacturers, the U.S. Food and Drug Administration (FDA) has introduced a controversial proposed rule on September 29. If enacted, this rule stands to monumentally modify the existing regulatory framework for laboratory developed tests (LDTs). The FDA has…
In a thought-provoking review of Sedona’s “Artificial Intelligence (AI) and the Practice of Law,” The Hon. Xavier Rodriguez brings attention to the impact AI is having, and will continue to have, on the legal profession. The review, first published on September 27, 2023, is now publicly available, courtesy of Michael Berman and the EDRM –…
The Financial Crimes Enforcement Network, commonly known as FinCEN, recently released the Small Entity Compliance Guide. This detailed instrument was designed to help entities comply with the Beneficial Ownership Information Reporting Rule, or BOI Rule, reports JD Supra. Implemented on September 29, 2022, as integral part of the Corporate Transparency Act, the BOI Rule is…
Balancing the potential boon and potential risks of artificial intelligence (AI) is in focus once again, this time in the Senate Banking Committee. On September 20, the Committee convened for its first hearing on the use of AI in financial services, a session that juxtaposed the capabilities this technology holds for the sector against its…
The Consumer Financial Protection Bureau (CFPB) has recently published a report titled “Data Point: 2022 Mortgage Market Activity and Trends.” This report is significant as it relies heavily on the 2022 data provided by lenders under the conditions of the Home Mortgage Disclosure Act (HMDA). This study essentially works towards painting a comprehensive and detailed…
Recent indications of a potential government shutdown have stirred anxieties about a multitude of repercussions, among which the enforcement of federal labor and employment laws risks falling into disarray. Indispensable for upholding labor standards, government agencies such as the U.S. Equal Employment Opportunity Commission (EEOC); the Department of Labor (DOL); and the National Labor Relations…
The U.S. Securities and Exchange Commission (SEC) recently settled charges against DWS Investment Management Americas Inc. (DIMA), a Deutsche Bank investment arm. On September 25, 2023, the SEC announced the enforcement action, pertaining to alleged misstatements by DIMA around its Environmental, Social, and Governance (ESG) investment process. Kramer Levin Naftalis & Frankel LLP reported on…
In an effort to provide enhanced protection against workplace violence, Governor Gavin Newsom has officially signed into law Senate Bill (SB) No. 553. The legislation, passed on September 30, 2023, imposes new obligations on nearly all California employers, requiring them to put in place measures to prevent or respond to instances of violence within the…
In a climate of continued growth, Kirkland & Ellis has announced its largest-ever partner class. Not only does the firm offer a distinct combination of prestige, profitability, and pay, but it has made a notable impact in the market regarding its partner count. The Chicago-based firm has just announced its most recent partner class, which…
In a recent development, Corp Fin has released a new set of Compliance & Disclosure Interpretations (CDIs) on pay versus performance matters. The move comes a year after the Securities and Exchange Commission (SEC) formed a rule mandating the disclosure of information that reflects the relationship between executive compensation actually paid by a company and…
Emerging rules within the tech industry have characterized the 2020s. As technology continues to evolve, and with it, the rapid growth of artificial intelligence (AI), one can’t help but wonder, will this trend carry over into the realm of AI regulation? Above the Law, in partnership with Ontra, is arranging a CLE-eligible webinar on October…
In a recent case, Clear Blue Specialty Insurance Co. v. TFS NY Inc., the U.S. District Court for the Eastern District of New York reaffirmed the strength of policy exclusions in commercial general liability (CGL) policies. The court ruled in favor of Clear Blue Specialty Insurance, concluding that they did not have a duty to…
In an unexpected move, the Internal Revenue Service (IRS) declared an immediate delay on processing any new Employee Retention Credit (ERC) claims as of September 14, 2023. The unexpected disruption is due to a sharp increase in doubtful or potentially fraudulent filings. The IRS made it clear that the halt will persist till the end…
In recent years, the need for individual mortgage loan originators (MLOs) to be licensed under state credit laws has become a topic of nuanced legal debate. This requirement presents potential complications for corporations whose employees take loan applications or negotiate the terms of residential mortgage loans. At its most basic, the MLO license seems relatively…