Respected law firm Loeb & Loeb has announced the appointment of Mitchell Nussbaum and Arash Khalili as its new co-chairs. The co-chair positions will be effective from February 5, 2024, according to a statement from the firm. Nussbaum and Khalili already hold esteemed roles within the firm. Nussbaum serves as the Vice Chairman of Loeb…
In a significant judgment, as reported by Hogan Lovells, the constitution court in Luxembourg has ruled the Minimum Net Wealth Tax (minNWT) regime to be partially unconstitutional. This decision will undoubtedly have far-reaching implications for corporations and individuals alike. The minNWT, a nationwide tax measure, had been under scrutiny for several reasons, not least its…
In the context of the U.S. Supreme Court’s precedent-setting verdict in Students for Fair Admissions, Inc. v. President & Fellows of Harvard College, 600 U.S. 181 (2023) (SFFA), which curtailed the extent of race-based affirmative action programs in college admissions, a consequential federal lawsuit has now been leveled in the Eastern District of Kentucky. This…
In a recent development that has set the legal landscape abuzz, the Office of the Maryland Attorney General announced its active investigation into minimum resale price maintenance (RPM) violations under Maryland’s state antitrust laws. The focus of the investigations are resale price maintenance agreements, and what makes these inquiries stand out on a national scale…
The process of establishing private investment funds is both a complex and crucial field of corporate law. This subject is the focus of a serialised report in JD Supra, penned by the legal experts at Blake, Cassels & Graydon LLP. In the article, the authors dissect the legal challenges, risks, and considerations related to the…
On November 9, 2023, the UK Office of Communications (Ofcom) issued its initial set of draft guidance regarding the long-awaited Online Safety Act (OSA), which is designed to safeguard online users from illegal and harmful content. Importantly, although the OSA was officially enacted in the UK on October 26, 2023, Ofcom, as the national communications…
In recent years, there has been an uptick in discussions surrounding the legality and ethics of referral incentive programs across industries, and specifically in fields such as dentistry. While these programs might appear to be a great way to attract a new customer base, their implications are not so straightforward all the time. Take, for…
On November 6, 2023, the Bureau of Industry and Security (BIS) from the Department of Commerce and FinCEN issued a Joint Notice on Export Control Evasion, introducing a new key term, “FIN-2023-GLOBALEXPORT,” to the Suspicious Activity Report (SAR). This term is to be used by financial institutions when reporting on possible efforts by individuals or…
Amidst commercial turbulence, the issue of fiduciary litigation emerges at the heart of the bankruptcy saga of Bed Bath & Beyond, a well-known home goods retailer. The case revolves around the company’s 401(k) committee, charged with ensuring sensible management of their 401(k) plan, and the implications of its responsibility following the company filing for bankruptcy…
Several recent surveys have indicated that the United States is facing a political crisis as the growing distrust in democracy is turning some citizens towards violence. This report by Justin Lindsay, a U.S. National Correspondent for Jurist, presents a detailed analysis on the matter. These findings, along with others, were recently discussed at the University…
Excitement seem to be rippling across some Biglaw firms as a wave of raises breaks through the industry. The momentous encouraging trend began with Milbank, but it was when Cravath came through, surpassing Milbank’s scale for some class levels, that other giants in Biglaw began to sit up and take notice. This occurrence served as…
In a significant development that underlines the evolving landscape of corporate law, the risk of personal liability for withdrawal liability is now a reality even with a company’s limited liability status. Unionized employers participating in an underfunded multiemployer pension plan may face high-value financial exposure when withdrawing (either fully or partially) from the plan. This…
According to a recent article on Above the Law, it was noted that Norton Rose Fulbright, a Biglaw firm regarded for its careful attention to detail, may have missed something crucial in its latest round of salary increases. Norton has recently increased the salaries of its employees, however, the detail that seems to have slipped…
Recently, the Department of Justice (DOJ) has signaled an increased emphasis on the use of data analytics in the prosecution of global corruption cases. This shift in strategy, explicitly announced by DOJ policymakers on November 29, 2023, marks the first time such technology will be used proactively to identify and prosecute crimes in foreign corruption…
In one of the most recent legal developments, the Delaware District Court passed a ruling on cross-motions for summary judgment in the celebrated case of Thomson Reuters v. Ross Intelligence Inc. The subsequent guidance promises to be instrumental for similar AI training and copyright infringement cases. The underlying case involved allegations of breach of contract,…
In recent news, Facebook and Apple settled large sums, $14.25 million and $25 million respectively, with the U.S. Department of Justice’s Immigrant and Employee Rights Section (IER) signalling to employers about the latitudes of federal government fines. These fines may apply to companies even if they are compliant with the recruitment steps required by the…
Amid the evolving legal terrain, particularly following the establishment of certain financial incentives and confidentiality guarantees for whistleblowers reporting potential violations of securities laws under Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, corporations and law firms must grapple with creating whistleblower compliant arrangements. Navigating this legal landscape can…
On November 27, 2023, the California Privacy Protection Agency (CPPA) unveiled draft regulations for Automated Decision-Making Technology (ADMT), marking a significant step forward in addressing emerging technology concerns. Notably, although the CPPA has yet to initiate the formal rulemaking process officially, the agency’s board is set to offer feedback on these proposed rules at the…
In response to potential risks presented by the growing number of inverter-based resources (IBRs) connected to the electric grid, the Federal Energy Regulatory Commission (FERC) initiated a directives series in 2022. These measures are intended to safeguard the reliability of the bulk-power system. Morgan Lewis – Power & Pipes previously reported that FERC delivered three…
In a significant development on the legal front, a dispute between a nonbank lender and the Colorado Administrator of the Uniform Consumer Credit Code (Administrator) has culminated in an Assurance of Discontinuance. The agreement, announced on November 13, 2023, was arranged to settle allegations that the lender had charged consumers unauthorized membership fees under the…
In a joint notice, the Department of Commerce’s Bureau of Industry and Security (BIS) and Financial Crimes Enforcement Network (FinCEN) issued a significant update regarding export control evasion. This document, produced on the 6th of November 2023, introduced the new Suspicious Activity Report key term “FIN-2023-GLOBALEXPORT”. According to the notice, this term should be used…
On 28 November 2023, the UK’s Financial Conduct Authority (FCA) publicized its recent Policy Statement on Sustainability Disclosure Requirements (SDR) and Investment Labels (PS23/16), as well as a Guidance Consultation on the Anti-Greenwashing Rule (GC23/3). This information, originating from Katten Muchin Rosenman LLP, focuses on the FCA’s continued emphasis and regulation in sustainable finance. The…
In the run-up to the UN Climate Change Conference (COP 28), starting in the United Arab Emirates this week, world leaders are contemplating solutions to some of the planet’s most difficult climate-related financial issues. Among these proposed solutions is the idea of a ‘grand bargain’—a deal to provide debt-relief support while also boosting climate-related financing…
Enacted at the outset of 2021, the Corporate Transparency Act (CTA) introduced a significant shift in the landscape of the fight against financial crimes. It is part of a larger measure called the Anti-Money Laundering Act of 2020 which reinstates the focused efforts of the U.S. government to combat financial crimes. The CTA primarily targets…
As we move into a new fiscal climate, key changes to law have direct implications for corporations and legal practitioners across sectors. Notably, the Inflation Reduction Act of 2022 (the “IRA”) is altering the landscape for those concerned with energy tax credits. Old and new, these credits form an essential piece of the financial puzzle…