The Internal Revenue Service (IRS) paid attention to the requests of employers across the United States and extended the adherence timeline to the Secure 2.0 Act of 2022’s (“Secure 2.0”) alterations to 401(k) plan regulations. This change significantly affects “catch-up contributions” made by older plan participants. According to a notice from IRS, employers have been…
The United States National Labor Relations Board (NLRB) has implemented a final rule that modifies certain procedures related to union representation elections. It becomes effective on December 26, 2023, and supersedes a rule cap from the Trump administration in 2019. It also marks a return to most of the procedures issued in 2014 during the…
As reported on JDSupra, the United States Department of Health and Human Services Office of Inspector General (OIG) published their updates to the Work Plan for August 2023. These updates were included in the OIG’s Enforcement Listserv notice, which was released on August 15, 2023. Here is where you can read the complete and in-depth…
In the landscape of legal affairs, one question that surfaces recurrently is – When Will a Settlement Agreement Preclude a False Claims Act Action? The inquiries surrounding this have been revived thanks to a recent ruling by a District of Columbia federal court. In brief, the court reminded employers that a severance agreement containing a…
The landscape of digital rights and privacy has been dynamically changing over the years. In an apparent response to this, India enacted its new privacy law—The Digital Personal Data Protection Act, 2023 (DPDP Act) on August 11. This is a critical step that will surely garner attention, particularly among legal professionals worldwide. Upon implementation, the…
The Committee on Foreign Investment in the United States (CFIUS), known for its rigorous scrutiny of foreign investments for potential national security risks, has officially extended its real estate jurisdiction to include eight new U.S. military bases. The newfound authority aligns with the committee’s historical focus on mitigating risks in close vicinity to sensitive Department…
In an increasingly digital world, corporations and law firms are confronted with an escalating demand for fast and comprehensive document redaction. Especially within the legal, medical, and financial sectors, the necessity of ensuring the absolute privacy and confidentiality of sensitive information is paramount. Traditionally, these corporations and law firms have managed document redaction in-house. However,…
In a collaborative effort between the U.S. Department of Justice (DOJ) and the Federal Trade Commission (FTC), a permanent injunction and civil penalty have been issued due to violations of the Controlling the Assault of Non-Solicited Pornography And Marketing (CAN-SPAM) Act, the CAN-SPAM Rule, and the FTC Act. The implicated party is a company offering…
On a recent Friday afternoon, Corp Fin issued several new Compliance and Disclosure Interpretations (CDIs) regarding Rule 10b5-1 plans. As many may recall, last December, the Securities and Exchange Commission (SEC) adopted new amendments to the rules regarding Rule 10b5-1 plans. The latest CDIs are designed to elaborate on these amendments and provide further guidance….
Large multinational corporations and law firms need to be conversant with the plethora of regulations surrounding international tax requirements. In this vein, a recent article elucidates Part 2 of an International Tax Primer specifically crafted for US taxpayers and individuals residing abroad. Titled Part 2 – International Tax Primer for US Taxpayers and Expatriates, this…
The impending open enrollment season for employee benefits in 2024, assisted by the recently published IRS guidance, signals a caution for employers worldwide. They are advised to ensure that the health plan offered to their employees is deemed affordable. As stated in the IRS Rev. Proc. 2023-29, there is a decrease in the new affordability…
The U.S. Environmental Protection Agency (EPA) disclosed its preliminary findings from the fifth Unregulated Contaminant Monitoring Rule (UCMR) under Section 1445(a)(2) of the Safe Drinking Water Act (SDWA) on August 17, 2023. An important mechanism under SDWA, UCMR paves the way for the EPA to gather data pertaining to public water systems’ impacts from “emerging…
As various forms of digital payments continue to evolve and impact global economies, the legal underpinnings of these systems grow increasingly critical. A Deep Dive into Payments, an informative podcast series presented by McGlinchey Stafford, has captured attention due to its holistic discussion on the impacts of money transmission laws on entities involved in the…
In a recent move reflecting an evolving regulatory landscape, Massachusetts’s Attorney General (AG) is intensifying his office’s focus on the motor-vehicle-repossession sector. The AG’s concentrated efforts came to light in a recent Assurance of Discontinuance (AOD), released on January 17, 2023. In this AOD, the AG made it clear that an investigation is underway concerning…
On August 23, 2023, almost a year after the Build America Buy America Act (BABA) was signed into law, the federal Office of Management and Budget (OMB) released its “Final Guidance for Grants and Agreements”. This guidance document intends to implement BABA’s domestic content preference requirements. As legal professionals, it’s essential for us to thoroughly…
Industrial conglomerate, 3M Co., has reportedly agreed to a settlement exceeding $5.5 billion in an effort to resolve pending claims that the company knowingly sold defective earplugs, leading to hearing loss and tinnitus among US military service members, as originally reported by Bloomberg Law. This move comes in the wake of significantly declining market values…
The National Labor Relations Board (NLRB) has once again altered its procedural rules impacting the processing of union election petitions. This marks the third revision in a decade, fundamentally affecting the time taken between the filing of a petition for election and the holding of the actual election. The changes, according to a comprehensive analysis…
In an increasingly competitive legal market, succession planning becomes an essential element of a law firm’s strategic planning. Building a durable business blueprint that aims at the transition of leadership and key roles serves to ensure the continuity, integrity, and financial stability of the firm. The recent episode of On Record PR, featured an insightful…
On August 22nd, the U.S. Court of Appeals for the Seventh Circuit affirmed the dismissal of a major proposed class action case. This suit alleged that defendant insurance companies engaged in misconduct by leaking the plaintiffs’ driver’s license numbers. The court’s decision hinged on the premise that the plaintiffs didn’t have the standing necessary to…
In a recent case that has implications for corporate attorneys around the world, the U.S. District Court for the District of Columbia issued a ruling that only human-authored works qualify for copyright protection under U.S. law. The court sided with the United States Copyright Office in a decision that affirmed works created entirely by artificial…
On Wednesday, August 23, 2023, the U.S. Department of Justice (DOJ) highlighted its steadfast commitment towards combating fraudulent activities related to the COVID-19 pandemic. The DOJ announced the culmination of a large-scale, nationwide enforcement action designed to apprehend and penalize COVID-19 fraudsters. The meticulous operation, executed across the nation, included a massive total of 718…
The National Labor Relations Board (NLRB) has announced a final rule to unwind the remainder of the 2019 Regulation that had previously lengthened the timeline for representation elections. This is a significant update to the regulations, following the NLRB’s decision in March 2023 to rescind four key provisions from the Board’s Rules and Regulations. This…
On August 22, a motion made by a group of intervenors seeking to expand the scope of a preliminary injunction issued by the U.S. District Court for the Southern District of Texas met with opposition from the Consumer Financial Protection Bureau (CFPB). The CFPB’s Small Business Lending Rule, which is essentially under siege, is the…
In a recent development, a federal court in Pennsylvania has delivered a noteworthy judgment regarding the enforcement of confidentiality agreements amongst employees. The court ruled that even if such an agreement was signed five months after the employee was hired, it still holds enforceable ground after the employee departs. Significantly, this remains valid even if…
On August 25, 2023, the Office of Federal Contract Compliance Programs (OFCCP) announced the approval of its new Scheduling Letter and Itemized Listing by the Office of Management and Budget (OMB). The latter document delineates new requirements, with federal contractors mandated to submit significant additional data and information to the OFCCP at the start of…