In a recent development, the Departments of Justice (DOJ), Commerce, and Treasury made a joint announcement on June 26, 2023. They issued a Tri-Seal Compliance Note that seeks to bring clarity to agency policy memoranda and existing regulations pertaining to voluntary self-disclosures (VSDs) of export controls and sanctions violations. This move comes as an essential…
Updating the 2023 relations between investors and the Cayman Islands Monetary Authority (CIMA), it’s evident that the responsibilities of the directors of Cayman Islands hedge funds have further underscored the need for transparency and honesty. To uphold their duties, they are tasked with continuously ensuring all affairs of the funds are not only transparent but…
The U.S. Equal Employment Opportunity Commission (EEOC) has recently issued a Notice of Proposed Rulemaking (NPRM) to put into action the Pregnant Workers Fairness Act (PWFA). The notice for the proposed ruling was posted by the Federal Register for public review and comment, ultimately shedding light on the imminent enactment and enforcement of the PWFA….
On August 4, 2023, the Office of Federal Contract Compliance Programs (OFCCP) issued its final rule, dubbed as the “Pre-Enforcement Notice and Conciliation Procedures”, which has substantially altered the procedures and standards used when circulating pre-enforcement notifications and ascertaining compliance via conciliation. This rule’s publication denotes a significant procedural and operational shift within the OFCCP,…
The United States Environmental Protection Agency (EPA) recently proposed significant revisions to the greenhouse gas reporting requirements, particularly applicable to Subpart W, as reported by JD Supra. This comes as part of a broader move to expand the mandate of the Greenhouse Gas Reporting Program (GHGRP), initially launched by the EPA in 2009. Originally, the…
The U.S. Attorney’s Office for New Jersey recently unveiled that Alexander Schleider, a resident of Lakewood, has admitted to wire fraud and conspiracy to commit healthcare fraud. The fraudulent scheme was centered on durable medical equipment (DME). Schleider pleaded guilty to his actions as part of a large-scale kickback plot, which resulted in massive losses…
On July 26, 2023, an important message was delivered from the offices of the Commerce, Justice, and Treasury Departments in the form of a “Tri-Seal Compliance Note”. This second-ever issued note marks a significant moment in the development of corporate compliance and violation disclosure standards, aiming to guide businesses towards a path of self-regulatory transparency….
On July 27, 2023, a significant regulatory proposal was issued by the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. Collectively known as the Federal Banking Agencies (FBAs), they proposed the amendment of the banking regulatory capital rules that impact…
In recent news, regulatory decisions by state and federal regulators continue to provoke significant impacts across The United States. One major focus in this arena lies within a clash between Republican and Democratic Attorneys General (AGs) regarding plastic pollution prevention. Such disputes reflect the highly political nature of environmental regulation and the divergent approaches towards…
In a notable decision on July 31, 2023, Judge Jed Rakoff of the Southern District of New York (“SDNY”) has made a decision in favor of the Securities and Exchange Commission (SEC) against Terraform Labs Pte. Ltd. in the case SEC v. Terraform Labs Pte. Ltd. He ruled that trading of cryptocurrency assets to retail…
Business succession planning, though possibly uncomfortable to consider, is paramount to the longevity and prosperity of an enterprise following a transition in ownership. In an insightful article by Husch Blackwell LLP, several strategies that business owners may contemplate in the construction of their succession plans are brought to light. At the larger end of the…
The Biden administration has announced several new measures intended to lower housing costs and bolster supply. Central to these steps is an effort to incentivize municipalities to loosen restrictive land use and zoning policies. This will be achieved by adopting these considerations into the grant criteria for key government programs. As part of the strategy,…
On August 2-3, 2023, Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes, Elizabeth Rosenberg and Acting Director of the Financial Crimes Enforcement Network, Himamauli Das, convened with their counterparts from the Government of Mexico. The meeting took place at the Strategic Dialogue on Illicit Finance (SDIF) event in Mexico City. The SDIF…
In a recent development, Texas Clinical Laboratory, BestCare Laboratory Services LLC, and its founder, have agreed to pay $5.7 million to settle a 2018 False Claims Act (FCA) judgement. Arising under the Department of Justice’s ability-to-pay policy, the judgement was imposed based on assertions of fraudulent claims to federal healthcare programs. This resolution seems poised…
Industry insiders warn founders and operators of startups about the impending requirement potentially impacting their businesses. Specifically, their firms may be required to report the Beneficial Ownership Information (BOI) unless there is an exemption under the Corporate Transparency Act (CTA). This obligation comes into effect as of January 1, 2024, and is detailed in this…
As part of significant developments in the legal and labor landscape, a new rule introduced by the federal Department of Homeland Security (DHS) is set to take effect from August 1, 2023. Under this new mandate, employers who maintain good standing and are active participants in E-Verify will now have the choice to perform remote…
Legal professionals working in the asbestos litigation field are preparing to gather for the National Asbestos Litigation Conference, this year taking place from September 12th to 13th in Charleston, South Carolina. This two-day conference, highlighted in JD Supra, aims to bring together experts in the field to facilitate networking, knowledge-sharing, and discussions on the latest…
The United States has introduced a new Form I-9 and updated procedures for U.S. employers to verify the identity and employment authorization for individuals hired in the country. These changes come under the aegis of the Department of Homeland Security (DHS) and U.S. Citizenship and Immigration Services (USCIS) and is mandated for all employers operating…
On August 1, 2023, U.S. Citizenship and Immigration Services rolled out a new edition of Form I-9. This immediately usable document will become mandatory on November 1, 2023, according to JD Supra. Employers have two versions of the Form I-9 at their disposal until the end of October 2023. They can either use the new…
In the current complex legal landscape, the classification of workers as employees or independent contractors continues to generate much debate, as evidenced by the ongoing deliberations at the National Labor Relations Board (NLRB). The decision-making criteria employed by ongoing government entities, the NLRB included, carry notable ramifications for corporations and their HR departments, especially considering…
The Guernsey Financial Services Commission (GFSC) has recently been granted permission to appeal in the case involving Domaille, Clarke & Hannis, further extending the unfolding legal drama. This case follows an appeal that was previously made against sanctions imposed on Domaille, Clarke & Hannis by a Senior Decision Maker (SDM) chosen by the GFSC. The…
Law professionals serving in the corporate sphere need to be well-acquainted with an important development from the National Labor Relations Board (NLRB). On August 2, 2023, a verdict was passed in Stericyle Inc., which overturned the legal framework the NLRB had been using since 2017 to evaluate the legality of workplace rules, such as those…
On August 5, 2023, New Jersey’s Temporary Worker Bill of Rights (TWBR) law commences in full effect, introducing new responsibilities for temporary service firms and employers that hire temporary workers. The State of New Jersey has indicated plans to enforce the new law along the lines of the proposed rules revealed on July 21, 2023….
The US Committee on Foreign Investment (CFIUS) has reviewed a record number of foreign investments for potential national security risk during the past year, according to its Annual Report to Congress for 2022. The Committee evaluated 440 covered transactions, marking an increase from the 436 transactions scrutinized in the previous year. This rise in reviews…
As we wheel into September, it’s time to look back at the key events surrounding the Office of Federal Contract Compliance Programs (OFCCP) that marked August 2023. Among the key pieces of news, the U.S. Bureau of Labor Statistics (BLS)’s Job Openings and Labor Turnover Summary (JOLTS) Report for June 2023 stands out, as it…