In recent times, numerous states are making significant strides to implement limitations on the protections provided by local employment laws. These efforts are, in part, a response to employment policies that are often administered in accordance with “applicable federal, state, or local law”. According to an analysis by Foley & Lardner LLP, in the specific…
The U.S. Citizenship and Immigration Services (USCIS) announced a new Form I-9 on July 21st, which has resulted in significant implications for many major corporations and law firms. This shift can largely impact your business operations and it is crucial to understand these changes to ensure compliance. The newly formulated Form I-9 became available for…
In a complex scenario indicative of the rapid expansion and legislative challenges of the crypto industry, two key cryptocurrency regulatory bills have been introduced in the U.S. Senate and House of Representatives, offering somewhat divergent perspectives on how this emergent technology should be governed. This topic has gained special attention from global legal professionals, as…
In today’s fast-paced, technologically driven world, law firms and corporations are continually required to sift through large volumes of electronic documents. A key process in this endeavour is known as Document Review for eDiscovery, a critical stage that involves examining collected documents to unveil evidence that is pertinent, responsive and privileged. In this article posted…
In light of the recent case in the Court of Federal Claims (COFC), “CACI Inc.–Fed. v. United States”, it’s become compellingly clear that adhering to post-government employment restrictions is paramount. In a decision that could potentially impact thousands of corporations and law firms, the COFC upheld a contracting officer’s decision to exclude CACI from competing…
With legal firms turning their sights towards strong marketing initiatives for the next years, it’s imperative to ascertain the ethical implications of their strategies – notably in the context of social media marketing. This includes examining standard marketing practices such as TV commercials, billboards, radio advertising, and internet advertising, with a keen focus on the…
For compliance professionals working in major corporations and global law firms, the question of how to fully operationalize compliance and embed it within the very tapestry of their organization is a critical concern. One often overlooked area central to cultivating and upholding an ethical culture within an organization is the Human Resources (HR) function. How…
For legal professionals working in corporate and financial law, a recent ruling by the Internal Revenue Service (IRS) should serve as a notable reminder of the importance of proper estate planning for retirement accounts. The IRS’ Private Letter Ruling (PLR) 2023-22-014 has highlighted several key considerations when handling Individual Retirement Accounts (IRAs), despite a finding…
Recently, the Second District Court of Appeal (Div. 5) affirmed a judgment which was of major significance in the realm of property law and development initiatives. The judgment involved the voiding of the California Environmental Quality Act (CEQA)’s infill exemption for a Hollywood hotel project. The hotel construction proposal in question planned for the demolition…
In a significant data breach incident, American National Insurance Company, also known as American National Group (“ANICO”) reported that confidential customer data was accessible to an unauthorized party. The insurance company lodged a notice of the data breach with the Attorney General of Texas on August 7, 2023. According to the notice submitted by ANICO,…
The ‘State of R&C Report’ has recently highlighted a critical issue — the inconsistent commitment to compliance by mid-level management. Ethics and compliance are two sides of the same coin. Compliance refers to adherence to laws, while ethics signifies action that is deemed right regardless of what the law stipulates. Conventionally, compliance has been viewed…
With the passage of the Modernization Law (law of 21 July 2023) on 28 July 2023, Luxembourg has significantly updated its toolbox for investment funds. This refresh includes amendments to various existing laws that regulate alternative investment funds (AIFs) and their managers (AIFMs). Of these laws, the UCI Law, the SICAR Law, the SIF Law,…
In a recent court hearing at Montgomery County Circuit Court, it surfaced that the Alabama Medical Cannabis Commission staff is ready to proceed with licensee announcements at its next meeting. Judge James Anderson, who presides over all ongoing medical cannabis litigation, would permit this procedure to continue unimpeded until he hears challenges to the process….
In the wake of the 2008 financial crisis, the U.S. Securities and Exchange Commission (the “SEC” or “Commission”) formulated a novel oversight instrument called the Form PF (Private Fund). The inception of this mechanism was to primarily scrutinize and assess systemic market risks that could be potentially inflicted by private funds. This strategic move has…
On 19 July 2023, the Luxembourg Parliament introduced and adopted draft bill n°8007 (the “New Law”) aiming to address several issues in the existing Luxembourg law regarding commercial companies. As stated on the JDSupra website, the primary objective of the bill is to rectify clerical errors, inconsistencies, and uncertainties present in various existing laws. Major…
The landscape of data privacy regulation at the state level has undergone swift transformations throughout 2022, a trend expected to continue into 2023. In the wake of the ever-changing digital environment, heightened concerns about privacy, and an increasing demand for transparency, companies across the United States have been required to adapt to new comprehensive privacy…
The UK government, through its HM Treasury, has recently published its response to the Short Selling Regulation Review. The review centered on the proposed UK short selling regime, an area of great interest to legal professionals working in international corporations and law firms. As part of the broader Brexit restructuring, the future UK short selling…
In the realm of finance and law, distressed debt transactions can potently lead to specific tax issues. A careful exploration of these nuances can provide clarity for legal professionals operating within the world’s leading corporations and law firms. An advisory has been issued by Kelley Drye & Warren LLP that highlights selected federal tax issues…
On August 2, 2023, the National Labor Relations Board (NLRB or the Board) made a significant decision in the case of Stericycle, Inc. that holds serious implications for employers and their ability to formulate workplace policies. This ruling overturned the earlier precedent that had given employers considerable leverage in establishing workplace policies. The NLRB, making…
The Centers for Medicare & Medicaid Services (CMS) recently unveiled its proposed set of regulations concerning the Hospital Outpatient Prospective Payment (OPPS) and Ambulatory Surgical Center (ASC) Payment Systems for calendar year 2024. The proposals also encompass the Physician Fee Schedule (PFS), with all these officially known as the ‘Proposed Rules.’ The Proposed Rules represent…
The landscape of California employment law continues to evolve in nuanced ways, particularly in relation to Professional and Administrative pay exemptions. This is a topic that impacts numerous corporations and law firms as changes in exemption rules may influence employment contracts, employee classification, and overall business strategy. According to a recent podcast featured on JD…
In the expanding world of securities, it’s becoming increasingly important for professionals to review and verify statements, as demonstrated in a recent article by Ary Rosenbaum from The Rosenbaum Law Firm P.C. Away from traditional trading, a growing number of individuals, including our legal colleague Mr Rosenbaum, are finding appeal in brokerage accounts which allow…
On July 19, 2023, a lawsuit was instigated against a Utah-based fintech company by the Consumer Financial Protection Bureau (CFPB). The Bureau alleged that the firm, along with several of its affiliates, deceived consumers by obscuring the terms of its financing agreements, thereby violating the Consumer Financial Protection Act (CFPA) and the Truth in Lending…
In a notable turn of events, OpenAI’s top executives recently made several surprising admissions in a series of interviews. OpenAI’s head scientist, Ilya Sutskever, unveiled startling details about the development process of the company’s neural-net Artificial Intelligence technology to fellow scientist Sven Strohband. According to Sutskever, the emergent intelligence of his neural-net Artificial Intelligence (AI)…
For those closely monitoring the regulatory landscape, particularly in the realm of environmental law, it is crucial to understand the forthcoming changes disclosed by the United States Environmental Protection Agency (“EPA”). Recently, the agency published its Spring 2023 Semi-Annual Agenda of Regulatory and Deregulatory Actions (the “Agenda”), albeit somewhat later than expected. This comprehensive agenda,…