The International Auditing and Assurance Standards Board (IAASB) has put forth a proposal for a new assurance standard focused on climate disclosures. Major legal and financial professionals would do well to pay close attention to this matter, given the extremely pertinent nature of the topic for businesses globally. The link to the proposal can be…
In a recent court hearing at Montgomery County Circuit Court, it surfaced that the Alabama Medical Cannabis Commission staff is ready to proceed with licensee announcements at its next meeting. Judge James Anderson, who presides over all ongoing medical cannabis litigation, would permit this procedure to continue unimpeded until he hears challenges to the process….
In the wake of a sweltering summer, The National Labor Relations Board, commonly known as “NLRB” or the “Board”, is adding to the rising temperature for employers across the nation. As indicated by a recent ruling delivered on August 2, 2023, the NLRB is taking up the mantle of “Handbook Police.” The decision validates the…
In the wake of the 2008 financial crisis, the U.S. Securities and Exchange Commission (the “SEC” or “Commission”) formulated a novel oversight instrument called the Form PF (Private Fund). The inception of this mechanism was to primarily scrutinize and assess systemic market risks that could be potentially inflicted by private funds. This strategic move has…
On 19 July 2023, the Luxembourg Parliament introduced and adopted draft bill n°8007 (the “New Law”) aiming to address several issues in the existing Luxembourg law regarding commercial companies. As stated on the JDSupra website, the primary objective of the bill is to rectify clerical errors, inconsistencies, and uncertainties present in various existing laws. Major…
The Texas sales and use tax rules that govern contractors and other construction-related work present a myriad of complexities. Due to their broad application, these rules impact a wide range of industries, most notably general construction, oil and gas related services, and demolition. Understanding and properly applying these rules involves in-depth examination of facts, necessitating…
The landscape of data privacy regulation at the state level has undergone swift transformations throughout 2022, a trend expected to continue into 2023. In the wake of the ever-changing digital environment, heightened concerns about privacy, and an increasing demand for transparency, companies across the United States have been required to adapt to new comprehensive privacy…
During a bustling legislative session in Colorado this year, Governor Jared Polis enacted over 470 new bills. Notably among these are four laws which promise to bring about sweeping alterations to the existing employment landscape within the state. The Protecting Opportunities and Workers’ Rights (POWR) Act, the Job Application Fairness Act (JAFA), and amendments to…
Financial projections occupy a central role in the fundraising efforts of early-stage companies. Companies operating pre-revenue or in the initial, optimistic strata of their business lifecycle frequently use financial models and projections. These companies lay bare their assumptions that underpin these models and projections, thereby offering a degree of transparency common in the industry. Additional…
In the 68th episode of Trekking Through Compliance, titled ‘Elaan of Troyius’, the Star Date is set at 4373.5 and the date of airing was December 20, 1968. The episode suggests an intriguing situation wherein Kirk and his crew are tasked to transport Elaan from Elas and a diplomat from Troyius. Seemingly straightforward, the mission…
The UK government, through its HM Treasury, has recently published its response to the Short Selling Regulation Review. The review centered on the proposed UK short selling regime, an area of great interest to legal professionals working in international corporations and law firms. As part of the broader Brexit restructuring, the future UK short selling…
With the advent of the General Data Protection Regulation (GDPR), organizations are grappling to ensure compliance. A difficult task to navigate, the GDPR has the potential to impose severe fines to entities that violate its terms. Fines can reach as high as 4% of a company’s global annual revenues from the preceding year or hit…
In the realm of finance and law, distressed debt transactions can potently lead to specific tax issues. A careful exploration of these nuances can provide clarity for legal professionals operating within the world’s leading corporations and law firms. An advisory has been issued by Kelley Drye & Warren LLP that highlights selected federal tax issues…
In recent developments, Yellow Corp, a renowned trucking firm, has confirmed an employee layoff, following a prolonged labor dispute. An estimated 1,000 workers across North Carolina, 200 of whom are based in the Triangle, have been affected. This comes after the operation of the corporation was abruptly halted on a recent Sunday. The layoffs have…
In a world where artificial intelligence (AI) is progressing at an astounding pace, the arrival of ChatGPT in November 2022 has notably aroused interest and popularity within this dynamic sector. According to an analysis by Bricker Graydon LLP, ChatGPT, a natural language processing AI chatbot, is a product of OpenAI — a group known for…
Attorney Janathan Allen recently focused on the fundamental necessity of business succession planning in a podcast shared by Allen Barron, Inc. The link to the podcast can be found here. Succession planning, often neglected, is vital for any business. It provides a clear path on how operations should continue in the event of death or…
In early July, seven more Humira® (adalimumab) biosimilars, including a single interchangeable, joined Amjevita™ (adalimumab-atto) on the US market. Abrilada™ (adalimumab-afzb) remains the sole FDA-approved adalimumab biosimilar yet to be launched, despite predictions for an early release as of July 2023. The addition of these new biosimilars is poised to shake up the market considerably…
On August 2, 2023, the National Labor Relations Board (NLRB or the Board) made a significant decision in the case of Stericycle, Inc. that holds serious implications for employers and their ability to formulate workplace policies. This ruling overturned the earlier precedent that had given employers considerable leverage in establishing workplace policies. The NLRB, making…
In a noteworthy ruling, the English Commercial Court has denied recognition and enforcement of a California-seated arbitration award, opining that the enforcement would violate UK public policy. The Court stated this would be in direct conflict with principles outlined in the Consumer Rights Act 2015 (CRA 2015) and the Financial Services and Markets Act 2000…
In a recent turn of events, Judge Jeremy Kernodle of the U.S. District Court for the Eastern District of Texas has delivered a court’s decision in the Texas Medical Association case. The case challenged certain parts of a federal law known as the No Surprises Act, which primarily geared towards restricting health care providers from…
The Centers for Medicare & Medicaid Services (CMS) recently unveiled its proposed set of regulations concerning the Hospital Outpatient Prospective Payment (OPPS) and Ambulatory Surgical Center (ASC) Payment Systems for calendar year 2024. The proposals also encompass the Physician Fee Schedule (PFS), with all these officially known as the ‘Proposed Rules.’ The Proposed Rules represent…
In the wake of the recent Minnesota legislative session, employers with Minnesota-based employees can expect a number of changes in the state’s employment laws. These alterations could significantly impact their policies and procedures, therefore awareness and understanding of these changes is paramount. As reported previously on JD Supra, the new laws include a ban on…
In 1963, the Pennsylvania Supreme Court issued a ruling suggesting that an individual does not have an expectation of privacy when a private investigator follows and photographs them on the street once they have claimed personal injuries sustained in a car accident. The argument was that the claimant “must expect reasonable inquiry and investigation to…
In this recent episode of California Employment News, Meagan Bainbridge and Lukas Clary delve into the complexities surrounding the Professional and Administrative pay exemptions. These exemptions, found in both federal and state laws, are commonly used to exclude certain employees from overtime, meal and rest break, and minimum wage rules. These exceptions, often seen as…
The phrase “without merit” is frequently deployed in response to lawsuits, often as a knee jerk reaction. However, the implications of terming a lawsuit as “without merit” could be more substantial than initially expected, as illustrated in a recent case involving a public company and its CEO. The lawsuit revolved around securities fraud claims which…