The UK Financial Conduct Authority (FCA) is currently consulting on considerable changes to the UK listing regime. Where traditionally we’ve seen standard and premium listing categories, we now face the possibility of a unified single listing category. This poses significant implications for management teams considering a UK IPO. However, keep in mind, these rule changes,…
On August 28, 2023, two photographers engaged the legal community by filing a petition for rehearing en banc in the Ninth Circuit, challenging a controversial area of copyright law that directly impacts how content is shared on the internet. Their move was in response to the recent Ninth Circuit decision made in the case of…
The digital era demands adaptability and flexibility from legal professionals, particularly in understanding and categorizing new classes of assets. Unlike tangible, physical assets, a myriad of challenges arises when dealing with complex digital possessions such as non-fungible tokens (NFTs), crypto tokens, cryptocurrencies, and other digital assets. Despite their intangible nature, possession of digital assets is…
In a world increasingly dictated by screens and software, e-Discovery is becoming a critical field for legal professionals and corporate entities alike. Recognizing this need, Global Advisory Board Chair Ari Kaplan, a respected legal industry analyst and principal of Ari Kaplan Advisors, recently hosted a discussion within the ACEDS (Association of Certified e-Discovery Specialists) community….
On August 30, 2023, notable changes were announced within the U.S. Department of Health and Human Services (HHS). The HHS proposed a shift in the legal classification of marijuana from Schedule I to Schedule III, a change that has potential implications for both the legal and commercial aspects of the drug. This news was initially…
In an intriguing development in the world of franchising, a Virginia district court recently ruled in favor of a franchisor, dismissing a lawsuit filed by 360 Painting. Known for its vast portfolio in residential and commercial painting services, the operation’s legal challenge was based on allegations of breach of contract and a call for equitable…
A recent amendment to the National Defense Authorization Act (NDAA) introduces new regulatory standards for U.S. documented commercial vessels. Effective from 2023, owners, masters, and managing operators are now obligated to report incidents of harassment, sexual harassment, and sexual assault immediately. The amendments were published by McGlinchey Stafford and hint towards a substantial shift in…
Despite the successful application of nuclear power for US military vessels since the 1950s, its adoption for civilian maritime purposes has never moved beyond a few experimental designs. This is largely due to concerns about safety and high initial capital costs. Recently however, innovations in nuclear technology, combined with an industry-wide push to declutter the…
On August 23, 2023, an announcement by the U.S. Department of Commerce sent ripples through the solar sector. Their publication disclosed final affirmative circumvention determinations on solar products originating from Cambodia, Malaysia, Thailand and Vietnam. Predominantly, these findings aligned with those issued in a set of preliminary determinations from December 2022. This decision by Commerce…
In a significant ruling that may inspire fierce debates about the nature of authorship in the age of artificial intelligence (AI), the US District Court for the District of Columbia held on August 18, 2023, that works generated completely by AI systems lack eligibility for US copyright protection. This is a clear finding that the…
In what could be an influential move for the corporate legal industry, Georgia has enacted its own Commercial Financing Disclosure Law, otherwise known as the CFDL, on a par with established laws in the states of California, Florida and New York. The Georgia CFDL is specifically applicable to covered “Commercial Financing Transactions”. Strikingly, Georgia’s new…
In a recent development, Justice Robert Reed of the New York State Court, Commercial Division, handed down a verdict in Trump v. Trump, 192 N.Y.S.3d 891 (Sup. Ct. N.Y. Cnty. June 9, 2023). The case provides important insights into New York’s recently amended Anti-SLAPP law and the implications for breach of contract claims. The case…
In a recent decision that could have significant implications for participants in the syndicated loan markets, the Court of Appeals for the Second Circuit sided with those who argued that term loans should not be treated as securities. The ruling, which came in the Kirschner case, affirmed a district court order that held that the…
On August 2, 2023, the California Department of Financial Protection and Innovation (DFPI) issued a final ruling that has significant implications for the world of small business financing. This ruling curbs certain individuals and entities from engaging in unfair, deceptive, or abusive acts or practices (UDAAP) when offering or providing commercial financing or other financial…
Non-disclosure agreements (NDAs) are often the initiatory legal documents signed by parties intending to undertake a transaction. Generally, they are viewed as straightforward documents, finalised at an early stage, allowing for focus on the more significant legal and commercial matters. Simple as they might seem, NDAs carry significant implications and therefore, a deeper understanding is…
In an unprecedented move, The California Department of Financial Protection and Innovation (DFPI) has put the final touches on regulations that ban unfair, deceptive, and abusive acts and practices (UDAAP) within the scope of commercial financing or other financial products or services targeted towards small businesses and other organization. As a result of these regulations,…
In recent years, California has been taking measures to ensure transparency and fairness in their lending industry, specifically in relation to small businesses, nonprofits and family farms. Governor Newsom signed AB 1864 into law three years ago, giving the Department of Financial Protection & Innovation (DFPI) the authority to define what counts as unfair, deceptive,…
In a significant development on August 18, 2023, the International Trade Administration (“ITA”) of the U.S. Department of Commerce issued a final “country-wide” circumvention determination surrounding the imposition of anti-dumping and countervailing import duties on certain solar cells and modules originating from Vietnam, Cambodia, Malaysia, and Thailand. This ruling escalates the conversation on circumvention, a…
For commercial litigator Brian Kahn, the road to the courtroom was paved not solely with law books and court documents, but also with the humorous tunes of renowned parody artist Alfred “Weird Al” Yankovic. Kahn, before embarking on his legal career, envisioned himself following in the footsteps of the famous songsmith, whose wide-spanning career has…
In a significant ruling, the Second Circuit, on August 24, 2023, warded off potential upheaval in the commercial lending market. The court pronounced its judgement in Kirschner v. JP Morgan Chase Bank, N.A. (JPM), et al. casting syndicated secured term loan notes as not securities for state-law purposes. The ruling adhered to the Supreme Court’s…
As we delve into the second quarter of 2023, the commercial insurance landscape continues to morph, with the outlook for commercial lines remaining largely stable since the first quarter. This stability is largely driven by the consistent supply of capital, which continues to drive pricing behavior across all segments. This information offers valuable insights for…
In recent developments in England’s legal world, there have been substantial cases that highlighted the express duty of “good faith” within the legal infrastructure of the country, especially in the context of commercial real estate. Katten Muchin Rosenman LLP details these events in-depth in one of their advisories. The expectation of “good faith” in legal…
The legal landscape continues to evolve, with constant updates in the realm of financial regulations. Among the most recent developments, the Office of Financial Research has published a brief entitled, “Work-from-Home and the Future Consolidation of the U.S. Commercial Real Estate Office Sector: The Decline of Regional Malls May Provide Insight.” The briefing points towards…
In a landscape where government regulations increasingly intersect with tech, federal contractors need to stay up-to-date on the current rules and revisions. One development of particular importance is the No TikTok on Government Devices Act, which has led to a recent rule banning the TikTok app from government devices. This rule extends to all government…
In an important regulatory development, the California Department of Financial Regulation and Innovation (CA DFPI) recently announced a ruling expanding the definition of Unfair, Deceptive and Abusive Acts and Practices (UDAAP) in its application to commercial financing. With this new rule, it has become unlawful for any covered provider to engage or have engaged in…