In August 2023, one of the standout topics in international trade revolves around the United States-Taiwan Initiative on 21st-Century Trade, which was officially formalized around June this year. This initiative is more than just a trade agreement. In an article penned by Braumiller Law Group, PLLC, they suggest this development might also be seen as…
The Cayman Islands Monetary Authority (CIMA) has issued a new Statement of Guidance for Mutual Funds and Private Funds (Corporate Governance Guidance). This new policy not only updates the existing guidance applicable to funds registered under the Mutual Funds Act (the MF Act), but also significantly expands the scope of CIMA’s Corporate Governance Guidance to…
As reported by JD Supra, the UK Financial Conduct Authority (FCA) began seeking public opinion on its proposed Rule Review Framework on July 14, 2023. This move comes in the wake of significant regulatory changes brought about by the Financial Services and Markets Act 2023. The referenced act impulsively increases the power of UK regulators…
Law School Toolbox, a widely-read resource for legal professionals, recently released a podcast covering important topics regarding relevance issues in evidence law. The podcast, eloquently titled “Listen and Learn — Relevance Issues (Evidence)“, delves into the specifics of when evidence is logically relevant, the potential multiple uses for a single piece of evidence, the concept…
On July 21, 2023, the Southern District of New York weighed in on a closely-watched class action lawsuit involving an undisclosed agriculture company and several of its senior officers (the “Individual Defendants”). The court, led by Judge Lewis J. Liman, both granted in part and rejected in part a motion to dismiss the securities class…
In a significant move within the US energy private equity sector, Allen & Overy has reportedly recruited a top-tier attorney from Paul Hastings. This news comes shortly before the planned merger of Allen & Overy with Shearman & Sterling. Although details of the transition are currently sparse, this announcement is expected to catalyze changes in…
On July 26, the Securities and Exchange Commission (SEC) announced a significant change in policy with the adoption of a new rule explicitly addressing cybersecurity risk management, strategy, governance, and incident disclosure. The move reflects increasing concern surrounding cyber threats and a push for proactive measures to safeguard public companies and their stakeholders. This rule…
In recent developments, the Internal Revenue Service (IRS) has increased its focus on detecting, investigating, and prosecuting fraud, with special attention dedicated to the Employee Retention Tax Credit (ERC) post-COVID. As reported by JD Supra, heightened scrutiny of ERC claims has culminated in these claims reaching the top of the IRS’s “Dirty Dozen” list of…
Early on Tuesday, global law firm Dentons announced a surprise de-merger from its mainland China branch, Dacheng Law Offices. Effective from this month, Dentons will no longer operate as a combined entity with Dacheng. In an email alert to its clients, Dentons attributed the split to “an evolving regulatory environment for Chinese law firms in…
Two prominent U.S. law firms, Quinn Emanuel Urquhart & Sullivan and Fried Frank, have recently extended their remote work policies for their UK-based employees for the entire month of August. The decision highlights a continuing trend found mainly among U.S. companies, allowing staff greater flexibility during the summer months. Quinn Emanuel typically requires their employees…
Global law firm CMS has witnessed a notable deceleration in its global revenue growth, according to a recent report. This news follows a period when the firm promoted a record number of partners across its global offices. This extensive growth initiative was part of a strategic effort to solidify the company’s footing in several international…
Global law firm Dentons is reportedly ending its association with Beijing Dacheng Law Offices. This notable split comes as a response to China’s newly implemented data privacy and cybersecurity regulations. Notably, this association previously brought thousands of lawyers under the Dentons banner, significantly expanding its global reach and areas of practice. The shake-up in this…
In an unexpected development, Dentons, one of the world’s most expansive law firms, has decided to terminate its merger with Dacheng, its mainland China arm. According to the details shared by Dentons with its clients during partner communications, the firm intimated that it will be “modifying its relationship with Beijing Dacheng Law Offices”. Under the…
In a response to the evolving demands of the legal services sector, Dechert LLP is permitting its current summer associates to defer their expected start dates by a full year. The law firm, which initially planned for the associates to start in the fall of 2024, is now offering these individuals the option to begin…
In a landmark scenario that could set precedent for future environmental legal cases, California witnessed the first appellate case in the country regarding the matter of the state versus the federal environmental regulation. A ruling by the Ninth Circuit Court of Appeals on Monday requires San Francisco city and county to adhere to limits set…
In the realm of international trade, the role of customs brokers is essential, and maintaining their competency through formal accreditation has been historically significant. Recently, changes to U.S. Customs & Border Protection (CBP) regulations have made this even more critical. The CBP published the Final Rule on continuing education for individual customs broker license holders…
The legal landscape relating to asbestos cases continues to evolve, with significant changes to filings throughout 2023. The data compiled by KCIC in their recent 2023 Mid-Year Asbestos Filings Update provides a succinct snapshot of the current situation. This mid-year update provides insights derived from information collected up to July 31. By analyzing this data,…
On July 10, Governor Gavin Newsom enacted an expansive streamlining plan that serves to reform the California Environmental Quality Act (CEQA) immensely. The plan includes the signing of five CEQA reform bills—SB 145, 146, 147, 149, and 150—an act that the Governor’s office has synonymously characterized as “the state’s most ambitious permitting and project review…
As employers are increasingly calling their employees back to the office, a case from the U.S. District Court for the Eastern District of Pennsylvania, Oross v. Kutztown University, sheds light on the need for individualized assessments when considering requests for remote work accommodations. The case implies that any policies categorically denying requests for remote work…
In a recent turn of events anticipated by many GovCon news followers, the Small Business Administration (SBA) has announced a “temporary suspension” of new 8(a) application submissions. A development of significant judicial and business implications. For individuals who haven’t been closely tracking related news, this crucial development might appear slightly disorienting. To understand this better,…
In an attempt to regulate governance and risk management framework requirements within the insurance industry, the Colorado Division of Insurance (DOI) is holding a virtual rulemaking hearing on August 31, 2023. As reported, this hearing pertains to the proposed regulation on life insurers making use of external consumer data and information sources, as well as…
In recent developments, the Department of Justice (DOJ) has issued proposed regulations for website accessibility. These proposed rules are specifically aimed at state and local governments and are set under the umbrella of the Americans with Disabilities Act (ADA) Title II. The interpretation and execution of these regulations will undoubtedly be of interest to legal…
Adding to its international footprint, the Japanese law firm TNY Group is preparing to inaugurate its first office in India. This comes following India’s decision half a year prior to liberalize its domestic legal market. The recent establishment of the TNY Group came in 2021, under the co-guidance of managing partners Yuji Tsutsumi and Takahisa…
As law firms across the globe grapple with the ongoing effects of the COVID-19 pandemic, a trend is emerging among larger firms, particularly those based in New York, pushing for policies mandating lawyers to return to in-office work four days a week. However, Washington D.C. firms appear to be less inclined to follow suit, with…
Artificial Intelligence (AI) is making an increasingly visible mark on numerous sectors, with the legal field being no exception. While no lawyer expects AI to eliminate human roles entirely, many perceive a shift in the role of a law firm associate due to rapid technology adoption within the practice of law. Some attorneys have made…