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 this week’s Food Venture Financing News, Flora Ventures, an Israel-based VC firm, established by an erstwhile executive of Mondelēz, announced that it has raised a significant $50 million in funds. This is a strategic move aiming to lend support to budding startups that are making waves in the domains of food security, sustainable agriculture,…
Good day to our esteemed readers. In today’s financial regulatory rundown, the Federal Financial Institutions Examination Council (FFIEC), working on behalf of its members, recently announced updates to six critical sections of the Bank Secrecy Act/Anti-Money Laundering Examination Manual. Let’s take a closer look. The noteworthy policy adjustments and emerging regulatory trends reflect the FFIEC’s…
In a move poised to effect significant change in the landscape of international finance, the USD LIBOR (London Interbank Offered Rate) panel has ceased publishing its one-, three-, and six-month USD LIBOR settings. This news follows the official prediction made by the Financial Conduct Authority (FCA) on 3 April 2023. The ICE Benchmark Administration (IBA),…
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…
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…
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…
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…
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…
The evolution and complexity of the relationship between the United States and China, and the web of relations among China, the US, and US allies or partners, have always been managed, to some degree, through the use of export controls. Recent developments demonstrate that such controls remain instrumental in addressing various aspects of this relationship….
Amnesty International (AI) has reported a series of alleged war crimes in Sudan, amid tensions between the Rapid Support Forces (RSF) and Sudanese Armed Forces (SAF). The ongoing crisis has reportedly led to the deaths and severe injuries of thousands of civilians since the conflict commenced in April. The international human rights watchdog details how…
British Rowing recently declared a policy prohibiting transgender athletes from participating in the Women’s Category. This announcement coincides with the launch of three new categories from September 11th: Open, Mixed, and Women’s. The policy outlines that only females assigned at birth have the eligibility to compete in competitions under British Rowing’s jurisdiction or be selected…
The US Department of Health and Human Services Office of Inspector General (HHS-OIG) recently issued a final ruling implementing its mandate under the 21st Century Cures Act to investigate allegations of information blocking among health IT developers and health information networks/exchanges (HIN/HIEs). Violations of this prohibition can lead to penalties as steep as $1 million…
In a significant ruling that caught the attention of the global legal community, the Administrative Appeals Tribunal handed down its decision earlier this year in a case involving Clearview AI and the Australian privacy regulator, the Office of the Australian Information Commissioner (OAIC). This decision, for the first time, marked the extraterritorial application of the…
According to a recent report, Asia-based law firms are progressively expanding their operations into Southeast Asia. Cities like Vientiane, Bangkok, and Kuala Lumpur have become hot spots for these pioneering law firms. More details here. Although specific firms are not identified in the provided text, it’s crucial to note that this strategic move suggests a…
In its latest strategic move, cloud-based trademark docketing software company Alt Legal has stepped up its game with its fourth acquisition. The company has acquired customers and the docketing business of its competitor, TM Cloud. This acquisition enables Alt Legal to expand its customer base across the United States and globally, including regions such as…
International law firm Bird & Bird has posted another year of healthy financial growth, propelling its top-line revenue up nearly 11% to reach £495 million for the 2022-2023 financial year. This sizeable increase underscores the firm’s ability to navigate the challenges of the current market and maintain steady growth. In terms of profitability, the firm’s…
Global investment firm KKR has made a significant move in the Indian market by acquiring a majority stake in LEAP India, a pallet pooling platform, for a reported figure above $350 million. The legal matters in this transaction are being overseen by Simpson Thacher & Bartlett and AZB & Partners on behalf of KKR, while…
Discover how international law firm Addleshaw Goddard defies legal industry trends, reporting 18% revenue growth and strategic global expansion. Learn about their impressive financial performance and plans for the future.