In a recent turn of events, the White House announced the introduction of the SAVE Plan on August 22. As reported by JDSupra recently, this initiative represents an income-driven repayment plan designed to calculate payment requisites predicated on a borrower’s income and family size rather than the remaining balance of the loan. The proposal brings…
In a significant move for those working in the insurance, healthcare and legal industries, the U.S. federal government introduced new regulations and guidance on July 25, 2023. These changes are aimed at improving adherence to regulations outlined in the Mental Health Parity and Addiction Equity Act (MHPAEA). The requirements of the MHPAEA mandate insurance companies…
The impending open enrollment season for employee benefits in 2024, assisted by the recently published IRS guidance, signals a caution for employers worldwide. They are advised to ensure that the health plan offered to their employees is deemed affordable. As stated in the IRS Rev. Proc. 2023-29, there is a decrease in the new affordability…
The U.S. Environmental Protection Agency (EPA) disclosed its preliminary findings from the fifth Unregulated Contaminant Monitoring Rule (UCMR) under Section 1445(a)(2) of the Safe Drinking Water Act (SDWA) on August 17, 2023. An important mechanism under SDWA, UCMR paves the way for the EPA to gather data pertaining to public water systems’ impacts from “emerging…
As various forms of digital payments continue to evolve and impact global economies, the legal underpinnings of these systems grow increasingly critical. A Deep Dive into Payments, an informative podcast series presented by McGlinchey Stafford, has captured attention due to its holistic discussion on the impacts of money transmission laws on entities involved in the…
In a recent move reflecting an evolving regulatory landscape, Massachusetts’s Attorney General (AG) is intensifying his office’s focus on the motor-vehicle-repossession sector. The AG’s concentrated efforts came to light in a recent Assurance of Discontinuance (AOD), released on January 17, 2023. In this AOD, the AG made it clear that an investigation is underway concerning…
After a period of prolonged deliberation, India has passed the Digital Personal Data Protection Act of 2023 (DPDPA), marking a significant shift in the country’s data protection framework. The legislation necessitates employers operating in India to closely examine their existing data protection policies and conform to the new law. The DPDPA is set to have…
On August 23, 2023, almost a year after the Build America Buy America Act (BABA) was signed into law, the federal Office of Management and Budget (OMB) released its “Final Guidance for Grants and Agreements”. This guidance document intends to implement BABA’s domestic content preference requirements. As legal professionals, it’s essential for us to thoroughly…
The Federal Trade Commission (FTC) has published its INFORM Consumers Act guidance, intended to clarify the new rules for third-party sellers who operate on large online marketplaces. The INFORM Consumers Act came into effect on June 27, marking a significant shift in the US regulation of online platforms that host high-volume third-party sellers. The Act…
In a notable shift, the Internal Revenue Service (IRS) has delayed a pivotal component of the SECURE 2.0 Act of 2022 (SECURE 2.0) that pertains to high-wage earners. This ruling stipulates that all catch-up contributions for this demographic must be made exclusively on a Roth (after-tax) basis, starting from January 1, 2024. The term ‘catch-up…
The Ohio Auditor of State (“AOS”) has recently issued new guidance tackling the prohibition detailed in the Ohio Revised Code 9.03, which outlaws the use of public funds in favor of levies and bond issues. The revised guidelines comprise answers to frequent queries, illustrations of potential scenarios, and commentary on best practices, drawing a broader…
Industrial conglomerate, 3M Co., has reportedly agreed to a settlement exceeding $5.5 billion in an effort to resolve pending claims that the company knowingly sold defective earplugs, leading to hearing loss and tinnitus among US military service members, as originally reported by Bloomberg Law. This move comes in the wake of significantly declining market values…
As we approach a new academic year, parents across Pennsylvania are beginning to prepare for the upcoming school year. Shared legal custody, however, introduces another layer of considerations as reported by Obermayer Rebmann Maxwell & Hippel LLP. Shared legal custody refers to the joint responsibility of running a child’s life. Parents are tasked with agreeing…
On August 4, 2023, a notable settlement was reached in the realm of cryptocurrency. Celebrity singer Austin Mahone entered into an agreement with the U.S. Securities and Exchange Commission (SEC), following allegations of a breach of the anti-touting provision of the Securities Act of 1933. The case commenced in the U.S. District Court for the…
The National Labor Relations Board (NLRB) has once again altered its procedural rules impacting the processing of union election petitions. This marks the third revision in a decade, fundamentally affecting the time taken between the filing of a petition for election and the holding of the actual election. The changes, according to a comprehensive analysis…
Last Wednesday, the Securities and Exchange Commission (SEC) approved new rules and amendments under the Investment Advisers Act of 1940 that majorly impact investment advisers. The decision, which was settled in a 3-2 vote, signifies a milestone in the SEC’s regulation of investment advisers, particularly those working with private equity funds and hedge funds. The…
The Office of the Comptroller of the Currency (OCC) has issued a proclamation in response to Tropical Storm Hilary’s havoc, offering much-needed flexibility to OCC-regulated institutions in California, Nevada, and Arizona. This directive enables affected branches to remain closed “for as long as deemed necessary for bank operation or public safety,” within the discretion of…
On July 26, 2023, the Securities and Exchange Commission (the “SEC“) unveiled new regulations mandating public companies and foreign private issuers to divulge key cybersecurity incidents within four business days from when the incident was first detected. Moreover, these entities will be required by law to share specifics regarding their approaches to managing cybersecurity risks,…
Understanding recent developments in bankruptcy-related litigation is crucial to legal professionals navigating the often convoluted business landscape. An interesting example of this is the recent news concerning Mallinckrodt, a multinational specialty biopharmaceutical company. It has been reported that Mallinckrodt is expected to file for its second bankruptcy in the near future. This follows a negotiation…
In a noteworthy development, on August 21, the U.S. Court of Appeals for the Second Circuit supported the dismissal of a whistleblower False Claims Act (FCA) case. The court delineated that FCA qui tam relator complaints could potentially be dismissed upon the government’s plea, circumventing the need for a hearing. This conclusion is contingent upon…
On August 18, 2023, a pivotal ruling in the realm of Artificial Intelligence (AI) and intellectual property reinforcement was made by the U.S. District Court for the District of Columbia. This case saw the court grant summary judgment in favor of the Copyright Office in Thaler v. Perlmutter, concluding that the office did not act…
In a recent legal event, a physician has been found guilty in a relatively unusual criminal Evaluation and Management (E/M) fraud trial. This case adds another layer of complexity in understanding E/M services, often described as “the core” of healthcare billing systems. The verdict has broader implications for medical and legal professionals worldwide, emphasizing the…
On August 23, 2023, the US Securities and Exchange Commission (SEC) made significant advances in the regulatory landscape with a 3 – 2 vote, approving the adoption of new rules applicable to advisers of private funds. Referred to officially as the Private Fund Adviser Rules, these modifications are projected to require substantial revisions to existing…
Littler Mendelson, an esteemed American law firm specializing in labor and employment law, has recently announced a new addition to their team. Mattheus Stephens has joined the firm as a shareholder in their San Diego, California office, as reported on Monday. Previously associated with Schor Vogelzang & Chung, Stephens brings a wealth of experience with…
The National Labor Relations Board (NLRB) has made significant changes to existing protocols, aiming to make union organizing easier. The alterations include a Final Rule to accelerate election procedures and a new method for unions to bypass these procedures through a demand for recognition. In a move that marked a robust departure from the previous…