Two years back, the general counsel for the National Labor Relations Board (NLRB) issued a memo suggesting its primary focus would be on rigorous investigation of workplace policies that might unlawfully impede employees’ Section 7 rights under the National Labor Relations Act. It’s time for corporates and law firms to revisit their employee manuals in…
With rapid advancements in the digital world, cybersecurity has become more crucial than ever. Now, a new reality is taking shape in the corporate domain: the U.S. Securities and Exchange Commission (SEC), on July 26, 2023, has officially mandated the inclusion of cybersecurity disclosures for public companies. What does this imply? By this ruling, public…
As the extended 990-PF filing deadline draws near, private foundations operating on a calendar year accounting period should take note. It is imperative that the leaders of such foundations verify that they have complied with the 1.39% net investment income excise tax. Moreover, this should be accurately accounted for on the foundation’s 2022 tax return….
On July 26, 2023, the Securities and Exchange Commission (SEC) announced its proposed rules targeted at eliminating potential conflicts of interest among broker-dealers and investment advisors in their interactions with investors through the use of predictive data analytics (PDA) or artificial intelligence (AI). These rules fall under the Securities Exchange Act of 1934 and the…
The U.S. Small Business Administration’s 8(a) Business Development Program, used to aid small businesses in competing in the American economy and accessing the federal procurement market, could be impacted by recent U.S. Supreme Court decisions. The rulings pertaining to affirmative action programs in higher education admissions could have profound implications for racially conscious programs in…
In a recent case before the Supreme Court of New York, New York County, a significant ruling was handed down concerning an asbestos-related lawsuit. The plaintiff in the case alleged exposure to asbestos while working with, and around, boilers manufactured by the defendant, Burnham, from 1961 to 1999. The deciding judge in the case found…
The 2022 Annual Report from the Committee on Foreign Investment in the United States (CFIUS) disclosed crucial information about the year’s foreign investment trends. Here are eight crucial takeaways from the report: The Committee reviewed a record number of filings in 2022. This indicates an upward trend in foreign investment activity in the United States….
In a recent unsettling development, The Hartford Life and Accident Insurance Company has announced a crucial data breach that has potentially affected thousands of customers. The announcement came in the form of a formal notice of data breach filed with the Texas Attorney General on August 7, 2023. As explained by Console and Associates, P.C.,…
The United States Citizenship and Immigration Services (USCIS) has recently made a crucial update in the submission requirements for the Form 9089 Application for Permanent Employment Certification. This revision particularly targets Schedule A and National Interest Waiver I-140 petitions. The modification requires petitioners to submit specific portions of the form, thus standardizing the procedure and…
Legal professionals should be aware of the latest ruling by the Washington State Supreme Court regarding foreclosure and bankruptcy, which might affect how they handle similar cases in the future. According to JD Supra, the court has made a significant ruling in two separate cases on when the statute of limitations begins to run in…
Legal professionals and corporate officers are being called to pay close attention as state regulators intensify enforcement of new privacy laws, a trend demonstrated by recent events in California and Colorado. The state regulators in these locations recently announced enforcement sweeps under privacy legislations that are either new or have been recently amended. State privacy…
The recent publication of the UK Investment Research Review report has indicated a further divergence between the European Union (EU) and the United Kingdom (UK) in unbundling research rules. With recommendations provided in the report accepted by the UK government, it signifies the next move in the somewhat unpredictable chess game of UK-EU financial regulation…
Austin-based legal recruitment and software startup Flo Recruit has confirmed the closure of a successful funding effort, to the tune of $4.2 million. The seed round funds will be directed towards expanding the company’s network among law schools and developing its products further. LiveOak Venture Partners and Moneta Ventures led the funding round, with further…
As law firms continue to evolve in the digital era, the demand for e-discovery centers has been steadily increasing. According to a report from Law.com, these centers specifically dedicated to electronic discovery tasks are seeing a surge in business, not only from within their own firms but from a growing number of external clients as…
In Tuesday’s financial regulatory news, Federal Reserve Governor Michelle W. Bowman imparted a significant speech at the “Fed Listens: Community Listening Session.” The event, hosted by the Federal Reserve Bank of Atlanta, allowed stakeholders and community members to engage with key financial policy-makers and regulators. As part of her engagement, Governor Bowman’s discourse was analyzed…
In a significant development, Dentons, one of the world’s largest law firms, has terminated its combination with Dacheng Law Offices in China. The unprecedented move comes amidst an increasingly strict regulatory environment in China that includes novel mandates and requirements for data privacy, cybersecurity, governance, and capital control. According to reports, shifts in policy have…
The state of Illinois has recently enacted a new law that enhances the provisions of the Family Bereavement Leave Act by providing extended child bereavement leave. This legislation, referred to as the Child Extended Bereavement Leave Act (CEBLA), is intended to provide relief to employees experiencing child loss due to horrific circumstances such as homicide…
A new report from McKinsey & Company reveals that many businesses have embraced the use of AI tools with minimal anticipation of potential risks these advanced technologies might present. This revelation suggests a significant lack in strategic measures to mitigate potential legal and ethical challenges that might arise from the application of AI tools in…
The Department of Justice (DOJ) of Hong Kong has taken a step further to appeal the High Court’s judgement, which initially refused to grant an injunction prohibiting the popular protest song titled “Glory to Hong Kong”. Secretary for Justice Paul Lam on behalf of the DOJ, applied for the injunction, with the intent to uphold…
This month’s issue of the Wiley Consumer Protection Download, dated August 7, 2023, offers an invaluable update on recent developments in consumer protection at the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC). The comprehensive update, which is put together by industry-respected Wiley Rein LLP, can be found at JD Supra. Wiley’s…
When early-stage companies scour for sources of capital, they often consider investments from strategic investors as a plausible option, along with investments from venture capital firms. The landscape of strategic investments can prove to be quite beneficial. But, like every coin has two sides, there are downsides to these types of investments as well. WilmerHale…
The topic of environmental, social, and governance (ESG) proposals has been a hot-button issue in the 2023 proxy season. Public-company shareholders faced a barrage of these proposals, in line with a trend noted by the EY Center for Board Matters. Nevertheless, the study by EY observed a telling trend: shareholders have become increasingly selective, a…
A detailed understanding of Ag-Gag legislation, especially for legal professionals working with agricultural and animal production industries in the United States is vital. This legislation, enacted in several states, aims to provide lawful protection to these industries from unauthorized interferences. The legality of these laws, however, continues to remain a point of contention. The legislation,…
In a move to increase protections for service sector workers, New Jersey’s Governor Phil Murphy signed into law a piece of legislation known as the “Service Worker Retention Law” (S2389/A4682) on July 24. This step has garnered considerable attention, especially among large corporations and law firms hiring extensively in the services sector. The bill’s mandate…
There has been a remarkable change in the metrics used to calculate earnout payments in recent years. According to analysis of the Goodwin Private Equity Deals Database, there’s a shift towards the use of EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) as a crucial determinant. The analysis indicates that EBITDA became almost as prevalent…