The month of July 2023 rendered a number of intriguing developments in the fields of UK taxation laws and rulings. Key decisions have been made by numerous tribunals, and we have seen compelling movements in terms of double tax relief, employee expense allowances, and directorial company loans, among others. A remarkable instance that invites discussion…
Section 220 of the Delaware General Corporation Law sets a precedent that any stockholder in a corporation has a right to inspect the books and records of that corporation. Utilized as a legal tool, a books and records request allows stockholders to gather necessary information ahead of filing a derivative lawsuit against officers and directors….
The Cayman Islands Monetary Authority (“CIMA”) has issued new rules that will impact the vast majority of Cayman Islands hedge funds. These open-ended vehicles, which pool capital and hold multiple investments, are largely regulated by CIMA under the Mutual Funds Act (the “MFA”). With the aim of refining its regulatory measures, CIMA has implemented a…
In a recent presentation at Daybreak Labs, Kilpatrick Townsend’s Yifan Mao, MSc, and Joseph Snyder, Ph.D., JD, discussed the importance of a cost-effective patent strategy for startups. These discussions delve into intellectual property protection for startups and also broach the subject of patents and trade secrets. The presentation touched on the high-level overview of patent…
After the recent amendments made to the dram shop liability law in Alabama, insurance premiums and potential liability for whiskey bars and similar establishments may be reduced. These changes refer to the Dram Shop Liability Act and signify a shift in the landscape of Liquor Liability Insurance in the state, which will apply to policies…
In a noteworthy move, the US Departments of Justice (DOJ), Commerce, and the Treasury have taken a collective stride towards promoting accountability and compliance within corporations. The three esteemed departments have combined efforts to publish a Tri-Seal Compliance Note on Voluntary Self-Disclosure of Potential Violations on July 26, 2023. This Compliance Note encompasses voluntary self-disclosure…
The North Carolina Court of Appeals recently approached a critical matter in the real estate sector. The case involved property leases, renewals of such leases, and the application of the state’s recordation statutes, collectively referred to as the “Connor Act”. The decision has significant implications for individuals and entities engaged in real estate transactions, including…
Compliance with the Mental Health Parity and Addiction Equity Act (MHPAEA) remains a pivotal focus for several US Federal Agencies. This comes to light following the annual report recently presented to the U.S. Congress by the U.S. Department of Labor (DOL), the U.S. Department of Health and Human Services (HHS), and the U.S. Department of…
The advent of artificial intelligence (AI) is transforming various industries worldwide, and the sports sector is no exception to this technological revolution. Since the inception of the “Moneyball” theory, which heavily relied on technology to influence sports consumption and analysis by fans and experts, the sports industry has seen substantial developments in the use of…
In delivering progressive adjustments to its municipal code, Chicago has recently fortified its sexual harassment laws with the passage of Ordinance 2022-665, significantly amplifying protections for employees working within the city. Interestingly, earlier guidance suggested that this crucial update would only apply to employers aligning with the definition outlined in the Criminal Record or Criminal…
California’s Privacy Protection Agency’s Enforcement Division disclosed on July 31 that it is set to review the privacy practices of connected vehicle manufacturers and the associated technologies. As automobiles increasingly feature settings that offer web-based entertainment, location sharing, smartphone integrations, and built-in cameras, there’s an augmented focus on the scope of data collected on owners…
In an alteration to long-standing convention, the unrestricted use of medical records in Arizona divorce and parenting time cases is undergoing considerable change. Previously, as long as matters of parenting time and legal decision-making were contested, all relevant medical records were admissible and could be employed in a family law case. This same principle was…
Employers around the globe have a new set of Frequently Asked Questions (FAQs) to guide them on how the No Surprises Act relates to the maximum-out-of-pocket (MOOP) limit for annual cost-sharing under the Affordable Care Act (ACA) and facility fee transparency. The FAQs released on July 7, 2023, are authored by the Departments of Labor,…
The sphere of defamation law is set to have its landscape altered with the breaking news that partners Clare Locke, who were instrumental in securing the $787 million settlement in the Fox News-Dominion case, are setting up their own defamation boutique. This shift comes at a time when the market for defamation lawyers is growing….
The New York State Public Service Commission has recently enacted Public Service Law § 66-t, a new regulation that mandates energy brokers and consultants to be registered with the Department of Public Service. Further, these entities are also required to disclose to customers all sorts of compensations for brokers and consultants, including non-financial rewards like…
In a significant update, the Department of Justice has recently filed a motion requesting US District Judge Eileen Cannon to schedule a ‘Garcia’ hearing for Walt Nauta, a co-defendant of former President Donald Trump. The ‘Garcia’ hearing, however, is not a motion to disqualify Nauta’s current legal counsel, Stanley Woodward Jr. Instead, observers note, it…
A toy company finds itself mired in legal trouble as it is unable to extricate itself from an insurance lawsuit concerning an existing legal action by a rival firm. The competitor has accused it, along with its proprietors, of operating a criminal network devised to dodge paying an $8.5 million default judgment. The judgment was…
August has now rolled in, presenting a fresh scope of opportunities for those within the sectors of energy and sustainability. The Bipartisan Infrastructure Law & Inflation Reduction Act Opportunities has initiated its course, promising an alluring bouquet of clean energy chances. Renowned law firm, Mintz, has astutely assembled an Energy Funding Matrix that diligently rounds-up…
The National Association of Clean Air Agencies (“NACAA”) has recently submitted comments to the United States Environmental Protection Agency (“EPA”), regarding the Proposed National Emission Standards for Hazardous Air Pollutants (NESHAP) for Coal and Oil-Fired Electric Utility Steam Generating Units Review of the Residual Risk and Technology Review. The docket was addressed on June 22nd….
In the realm of information technology, algorithms, bots, and the creation of data through Artificial Intelligence (AI) have become instrumental. The legal industry is one such sector actively engaging these tech advancements and strategising to understand how best to use them. A webinar by the Association of Certified E-Discovery further accentuated the subject, involving a…
When it comes to hiring, the importance of considering compliance cannot be overemphasized, especially in the context of family members of foreign government officials or employees of state-owned enterprises. This is the subject of an interesting exploration recently discussed by Tom Fox, a seasoned Compliance Evangelist, in a podcast episode. In the podcast, Fox highlights…
The latest update on wealth management for August 2023 has been published by esteemed law firm Proskauer Rose LLP, marking significant alterations in the Section 7520 rate prevalent for estate planning techniques. According to the report, accessible here, the updated rate now stands at 5%, marking an upturn from the July 2023 rate of 4.6%….
As reported by JD Supra, the Department of Homeland Security (DHS) announced on August 1, 2023, the addition of three entities to the Uyghur Forced Labor Prevention Act (UFLPA) Entity List. This register is a consolidated listing comprising four separate lists required under the UFLPA’s section 2(d)(2)(B). The entities added to this list will face…
Drawing from the corporate-friendly tax scheme, the budding position as a venture capital investment hub, and a flourishing legal marijuana business, Denver is proving increasingly appealing to large law firms. In 2022 alone, there was an 8% rise in attorney headcount at NLJ 500 firms in the Metro Denver area, culminating in 2,310 lawyers. Furthermore,…
As artificial intelligence continues to infiltrate various sectors, the legal profession isn’t left behind. Emerging technologies like AI not only promise convenient solutions but also pose unique legal and ethical concerns. With law firms accelerating digital transformation, AI-informed marketing strategies are increasingly common, redefining how businesses build their brands and engage with prospect clients. On…