In a recent decision that is becoming indicative of a trend favoring landlords, a court has denied a commercial tenant’s plea for rental relief citing “temporary frustration of purpose” during the COVID-19 pandemic. The case in question is West Pueblo Partners, LLC v. Stone Brewing Co., LLC, one of the first legal disputes to arise…
In recent news, the Justice Department (DOJ) and the Consumer Financial Protection Bureau (CFPB) issued a joint statement last month that has significant implications for financial institutions. The focus of this statement was centered on antidiscrimination in lending practices. This new reminder effectively speaks to all credit applicants, asserting a principle that they are to…
The Federal Reserve System’s Board of Governors issued a final rule on November 27, 2023, addressing Risk-Based Capital (RBC) requirements for depository institution holding companies that are significantly involved in insurance activities. According to a JD Supra report, the final rule serves as an uncommon instance of federal regulation intersecting with the insurance arena, which…
In recent years, Japan has been strategically positioning itself as a hub for international arbitration. As reported by JDSupra, the country has been implementing key legislative changes since 2017 to strengthen its appeal in the arena of arbitration. Integral to these changes are amendments to the Arbitration Act of Japan. These modifications are anticipated to…
With reassessments in regional wage models, speculated climate shifts seem to have found an unlikely companion; as temperatures decrease, the U.S. minimum wage, tip, and exemption employee pay are projected to increase in some parts of the country from January 1, 2024. This development is a part of scheduled state- and local-level wage increments and…
In a significant shakeup of longstanding legal precedent, the Fifth Circuit Court of Appeals, a federal level appeals court, has recently eased the way for plaintiffs to pursue employment discrimination lawsuits. The decision, however, has not provided explicit instructions to employers on how to modify their policies to minimize the risk of such litigation. This…
Earlier this week, the National Labor Relations Board (NLRB) faced a high-profile case when it denied a motion to reconsider by the employer in the case of Cemex Construction Materials Pacific LLC, 372 NLRB No. 157 (2023). This decision not only validated the applicability of its recent Cemex standard but also highlighted the possibility of…
The Foreign Corrupt Practices Act (FCPA) enforcements concerning Tysers Insurance Brokers and H.W. Wood Limited have been notable in the legal world, revealing both longstanding and emerging tendencies in FCPA enforcement. The implications of these settlements are something every legal professional should mull over, providing a valuable lens into federal enforcement priorities. What drew weight…
With the evolving landscape of business operating globally, the enforcement of corporate crime laws is experiencing significant shifts. A notable instance of this transformation is taking place in the United Kingdom. Companies in the UK, regardless of whether they are incorporated domestically or abroad, increasingly face a stark shift in corporate crime enforcement. As reported…
In a bid to unify existing pilots under Project Greenprint and strengthen Singapore’s sustainability reporting and data needs, a new artificial intelligence platform, known as “Gprnt.ai” (Gprnt), was launched in November 2023. This is the latest step in Singapore’s green initiatives as part of the larger Project Greenprint. The arrival of Gprnt.ai indicates a steadfast…
The holiday season is hailed with joy, excitement, and, for many households, the intrigued anticipation of Santa Claus’ arrival. Yet, as we approach December, legal professionals should turn their attention to a different ‘clause’ that holds considerable import – the ‘no gag’ clause that health plan sponsors need to consider. This clause plays an important…
In a recent unfortunate turn of events, Tri Counties Bank had to file a notice of a data breach with the Attorney General of Maine on November 22, 2023. The bank discovered that its computer system had been infested with malware, leading to severe repercussions. According to the notice filed, the incident resulted in an…
In a pivotal development in gig economy and technology, Detroit-based electric delivery startup, BrightDrop, will now be integrated into General Motors (GM). The company which was birthed as a GM subsidiary in 2021, will no longer operate as an independent entity. Founded with a mission to reorient the future of delivery around a singular, sustainable…
Recently, the U.S. District Court for the District of Massachusetts upheld an unusual exception to the Insured v. Insured Exclusion in a private company management liability policy. The court interpreted a “former director and officer” exception and a “shareholder derivative” exception in a way that preserved coverage under the policy. The decision was reached after…
In an eye-opening development, the European Securities and Markets Authority (ESMA), acting as the EU markets regulator, released a study on October 2, 2023, that brought to light a significant trend in the naming conventions of investment funds. The study highlighted that in the past decade, the use of ESG-related terms in fund names has…
In an increasingly globalized economic landscape, multinational corporations face a myriad of regulations and compliance requirements that span across multiple jurisdictions. Resolving the complexities of such an environment has become a heightened focus as the penalties for non-compliance continue to escalate. Based on a recent article published on JD Supra, corporations ought to invest in…
The U.S. Department of Housing and Urban Development (HUD) recently revealed the loan limits for FHA insured forward mortgage loans and FHA insured Home Equity Conversion Mortgages (HECMs) for 2024. The announcements were made in Mortgagee Letter 2023-21 and Mortgagee Letter 2023-22 respectively. These advances reflect HUD’s continuous efforts to adapt to the housing market’s…
In a recent declaration that has implications for labor relations and corporate dress code enforcement, the United States Court of Appeals for the Fifth Circuit has overturned a ruling from the National Labor Relations Board (NLRB). The original judgement was heavily opposed and deemed controversial at the time of issuance. As per the earlier verdict…
The Securities and Exchange Commission (SEC) recently revealed its enforcement outcomes for the fiscal year of 2023. The report showcased a total of 784 enforcement actions, which marks a 3% increase from the previous fiscal year. Such data includes a rise of 8% from the last year in the count of original (stand-alone) enforcement actions,…
In an age marked by changing regulations and increasing complexity, maintaining compliance in global business scenarios is more crucial than ever. Companies must navigate a labyrinth of legal requirements that span multiple jurisdictions, offering a multitude of challenges. A vital tool that has made this task more manageable is compliance monitoring software. As outlined in…
The New York Department of Health (DOH) has recently updated its rules on Medical Respite Program operation. Significant to not-for-profit corporations, these changes outline how the DOH will review and approve these groups’ applications to become certified operators of a Medical Respite Program. This development means that companies in the non-profit sector who have an…
On November 1, 2023, the Office of Management and Budget (OMB) unveiled a draft memorandum outlining plans to implement the recently issued executive order on artificial intelligence (AI). This development, following closely on the heels of the Biden administration’s release of the groundbreaking AI directive on October 30, 2023, is now open for public comment….
Welcome to the November edition of the Competitive Advantage by Blakes update. Published monthly by the Competition and Antitrust and Foreign Investment groups at Blakes, this edition presents an overview of recent developments in competition law in Canada. Key elements of the report include an update on enforcement activities from the Canadian Competition Bureau (the…
Directors and Officers (D&O) indemnification agreements are a critical part of the overall protection that companies provide to their boards. These arrangements are particularly important where high-level and experienced directors and officers are involved, given the personal and financial risks they undertake in these positions. As Woodruff Sawyer points out, there are three pillars that…
The Healey-Driscoll Administration has recently come under the spotlight, particularly around their efforts to address the escalating issue of climate change. A noteworthy example of these efforts is the announcement of their new initiative known as the ResilientCoasts Initiative. Understandably, this initiative has garnered a significant amount of attention and raises critical debates on proactive…