The Financial Accounting Standards Board (FASB) is stepping up its game with new requirements for greater transparency regarding public company expenses. In an effort to offer investors more actionable details about expenses on the income statement, the board is targeting the issue from two key perspectives: the disaggregation of income statement expenses and segment reporting….
Swift action is the watchword for residential property developers in the UK as the Building Safety Act Responsible Actors Scheme (“RAS”) commences enforcement. Provisions of the Responsible Actors Scheme, which came into effect on 23 July 2023, mandate remediation of fire safety defects in relevant buildings by developers, failure of which could result in them…
On June 29, 2023, the U.S. Supreme Court delivered a ruling in a pair of cases brought by Students for Fair Admissions (SFFA) that could have significant implications for all industries. The Court struck down the race-conscious admissions programs at Harvard University and the University of North Carolina at Chapel Hill, setting a new precedent…
In a marked move, the U.S. Securities and Exchange Commission (SEC) adopted a noteworthy new rule last week, a move that notably increased reporting obligations for public companies. The adopted Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure Rule (the “Rule”) demands, among various other things, the reporting of “cybersecurity incidents” within merely four business…
In a recent corporate legal development, an Administrative Law Judge ruled in a case involving Starbucks Corp., potentially paving the way for the National Labor Relations Board (NLRB) to reinstate an employer’s obligation. The decision may lead to companies being required to negotiate with a union before imposing significant discretionary discipline in a newly-organized workplace,…
North Carolina regulatory offices have recently clarified guidelines regarding licensing and permitting for solar panel installations. This comes at an important time, as North Carolina has surged to become the fourth major state for solar energy in the nation, according to a report by the United States Energy Information Administration. These regulations promise more streamlined…
On July 26, 2023, an open meeting held by the Securities and Exchange Commission (SEC) resulted in the adoption of final rules that aim to enhance and standardize cybersecurity disclosures by public companies. This development indicates a significant shift in regulatory focus towards improving transparency in the cybersecurity realm. According to a report by legal…
In an undisclosed deal, e-discovery and legal services provider Consilio is acquiring two prominent UK companies, Lawyers On Demand (LOD) and SYKE, a legal tech consultancy. This acquisition is not only expected to boost Consilio’s presence in the United Kingdom but is also set to expand the company’s ELS, Enterprise Legal Services operations, across Europe,…
Legal professionals and corporate stakeholders have turned their attention to California as a series of significant legal updates have recently come into effect. Of particular interest is the change in enforcement start date for the California Consumer Privacy Act (CCPA), along with two new ordinances for Los Angeles businesses. For those unaware, The CCPA imposed…
The escalating influence of artificial intelligence, particularly Generative AI (GenAI), is forecast to disproportionately impact women and diverse groups through job losses in the coming decade. This trend is expected to intensify through to 2030, as reported last week by the McKinsey Global Institute. Numerous office support, customer service, and food services positions, which are…
In a recent move, the Court of Appeal of Florida, First District, reversed a decision to grant summary judgment in favor of a brake manufacturer in a case surrounding asbestos-induced mesothelioma. The plaintiff, representing the estate of the late Joan Smith, argued that her mesothelioma was caused by secondary exposure to asbestos through laundering her…
In a recent webinar series focused on State Attorneys General (AGs), the spotlight moved west past the Great Plains to the Rocky Mountains in Colorado. Insights into consumer protection and legal practices came from Colorado’s Attorney General Phil Weiser and Deputy AG for Consumer Protection, Nathan Blake. The dialogues spanned various topics such as office…
In an unexpected turn of events, The Washington Post uncovered on July 13, 2023, that the Federal Trade Commission (FTC) has issued a Civil Investigative Demand (CID)—which acts much like a pre-litigation subpoena—directed at OpenAI, LLC. This company is a renowned developer of technologies like ChatGPT and DALL-E. This surprising news has reverberated throughout the…
The Federal Court has recently delivered a verdict dismissing an effort by non-governmental organizations (NGOs) to rescind ministerial approval of a notable offshore oil and gas project. The NGOs claimed that the approving minister did not consider downstream emissions and marine shipping hazards in the approval process. This highlighted case suggests NGOs’ increasing utilization of…
On July 26, 2023, The Consumer Financial Protection Bureau (CFPB) issued its Summer 2023 Supervisory Highlights, as recounted on JD Supra. It describes key findings and unprecedented violations identified during examinations conducted between July 2022 and March 2023. The report has caught the attention of legal professionals and corporate entities engaged in the finance field…
As many legal professionals closely monitor ongoing international trade disputes, one pressing issue continues to dominate legal and political headlines. The European Union (EU) and the United States (US) remain at odds on policy approaches regarding the steel and aluminum industry due to disagreements anchored in Environmental, Social, and Governance (ESG) concerns, more particularly the…
On July 25, 2023, an important decision took place in the United States District Court for the Southern District of New York. Judge Jed S. Rakoff dismissed a motion to dismiss a putative securities class action, involving an online food ordering and delivery platform, known merely as “the Company”. The allegation stems from violations of…
The U.S. Securities and Exchange Commission (SEC) has implemented a significant new policy regarding cybersecurity disclosure requirements, according to a recent report. As of July 26, 2023, all public companies that fall under the reporting obligations and handle data collection or processing are subject to the rule. This rule, named the Cybersecurity Risk Management, Strategy,…
CBIZ, Inc, a renowned provider of professional business services in the United States, has recently announced the acquisition of American Pension Advisors, Ltd, as per JD Supra. The acquisition is a strategic move that further strengthens CBIZ Inc’s presence in the pension advisory sector, showcasing the firm’s commitment to reinforcing both its market leadership and…
In recent years, Australia’s housing crisis has grown to more than just a national concern. The issue, which appears to have been seeding over several generations, showcases severe symptoms that are both painfully obvious and difficult to address. The imbalance between supply and demand is widening, with supply-side problems accentuating the disparity. The international law…
In a noteworthy development from the world of law, Osler, a leading Canadian law firm, has appointed a new co-chair from its Toronto Mergers and Acquisitions (M&A) division. Notably, alongside this significant change, the firm has also welcomed new partners into its Intellectual Property (IP) and real estate divisions, showing a clear commitment to expansion…
In a significant move by the US Senate, an amendment has been approved to the National Defense Authorization Act, introducing mandatory notifications for specific outbound investments directed towards certain countries, amongst them the People’s Republic of China. This development follows a defined scope articulated by the Congress to reimagine the procedures. The implications of this…
In an ongoing development within the U.S. legal and political scene, Congressional Republicans are presenting a notably more concentrated emphasis on the procedures of gift and contract disclosures from international donors, specifically under the auspices of Section 117 of the Higher Education Act of 1965, 20 U.S.C. §1011f (hereafter referred to as “Section 117”). As…
In today’s digital age, email no longer holds a monopoly on business communications. Workers across the globe are increasingly leveraging devices and applications such as texts, WhatsApp, Slack, Teams, and countless other tools to communicate with coworkers, clients, and prospects. This shift has certainly expedited communication and improved the fluidity of team collaborations, but it…
In the ongoing legal landscape, employers who choose to exclude coverage for gender affirming care in their health plans may find themselves facing significant risks. This is in light of recent court rulings and legislative movements. In recent years, there has been a surge of cases pertaining to the delivery of and payment for gender…