The US Department of the Treasury-led Committee on Foreign Investment in the United States (CFIUS) recently released its annual report for calendar year 2022, providing valuable insights into CFIUS’ review process. It also offers detailed statistics relating to covered foreign transactions that were filed in the preceding year. The full report can be accessed here….
A recent survey conducted by Pontera reveals a marked inclination among financial advisors towards 401(k)s in contrast to Individual Retirement Account (IRA) rollovers – a preference that ought to be considered against the backdrop of corporate financial decision-making practices. The survey’s findings are elucidated in an article written by Ary Rosenbaum from The Rosenbaum Law…
The U.S. Equal Employment Opportunity Commission (EEOC) has initiated a lawsuit against a home care provider on grounds of alleged race and national origin discrimination. The lawsuit revolves around allegations that the provider unlawfully adjusted work assignments to satisfy its clients’ preferences. According to the brief, the home care provider allegedly fell in line with…
The White House Council on Environmental Quality (CEQ) recently proposed a rule carrying significant revisions to National Environmental Policy Act (NEPA) regulations. This move is part of a broader implementation of amendments directed by the Fiscal Responsibility Act of 2023, and reflects the Biden administration’s priorities surrounding climate change and environmental justice. This proposed rule,…
In early June, the Public Company Accounting Oversight Board (PCAOB), known as “the Board,” proposed comprehensive amendments that could potentially result in a substantial shift in auditor responsibilities. The proposed changes concern how auditors take into account noncompliance with laws and regulations. According to a summary from JD Supra, these modifications could represent a pivotal…
The realm of corporate governance has been rife with key developments as of August 2023. In this summary, we will review and analyze the most notable movements, with a particular focus on their impact on corporations and law firms in the United Kingdom. For legal professionals seeking to stay abreast of such developments, clear and…
In a move that has left many legal professionals scratching their heads, the National Labor Relations Board (NLRB) has ruled that workplace rules could potentially be deemed unlawful if employees or unions claim that they are. This sweeping statement, now embedded in U.S labor law, comes with the potential for numerous ramifications and has sparked…
Forecasts suggest that more than 1 billion travelers headed to Europe will be impacted by the European Travel Information and Authorization System (ETIAS), anticipated to launch in 2024. This system, which requires non-European travelers, including those from the United States, to seek approval before proceeding with their travels, marks a significant change in policy for…
In a significant shift, the National Labor Relations Board (NLRB) has outlined a new standard for the analysis and review of employer workplace rules, an action likely to lead to increasing complexities for anyone responsible for composing such policies. This adjustment was characterized by the board’s decision in Stericycle, Inc., 372 NLRB No. 113 (2023),…
The U.S. Securities and Exchange Commission’s (SEC) Cybersecurity Risk Management Strategy, Governance, and Incident Disclosure Rules have been officially recorded in the Federal Register. As per the official publication, these rules were published on August 4, 2023 and will become effective from September 5, 2023. These regulations provide the guiding principles and norms for cybersecurity…
Legal professionals, particularly those in large corporations and law firms, should be aware of the upcoming sunset of a Temporary Final Rule that extends the validity of certain Employment Authorization Documents (EADs) by up to 540 days. This rule is set to expire on October 26, 2023. This information is especially important for employers and…
As July 2023 draws to a close, it becomes clear that important developments in the domain of ESG and sustainable finance regulation continue to unfold despite the onset of legislative and regulatory summer recesses. Among the recent developments generating considerable interest within legal circles is the European Commission’s formal adoption of the European Sustainability Reporting…
In a significant turn of events that could impact corporations and law firms, the U.S. Department of Labor (DOL) has issued an opinion letter on February 9, 2023, asserting that employees are entitled to use the Family and Medical Leave Act (FMLA) to reduce their work hours indefinitely. The DOL issued this letter in response…
Sadness has rippled through the legal profession after the announcement that the historic Philadelphia law firm, Schnader Harrison Segal & Lewis, will be closing its doors permanently. The nearly 100-year-old firm recently revealed that it is currently in the process of planning for dissolution, marking an end to its well-esteemed operations in the industry. Through…
In a recent string of significant decisions and policies, both the National Labor Relations Board (NLRB) and the U.S. Department of Labor (DOL) have taken steps that further pro-union initiatives. Based upon the information provided by JDSupra, these pro-union initiatives could potentially impact employers’ interaction with their workforce in the context of union representation. One…
In a notable development, the U.S. Departments of the Treasury, Labor, and Health and Human Services have recently put forth anticipated proposed regulations under the Mental Health Parity and Addiction Equity Act (MHPAEA). This regulatory proposal aims to secure parity for the accessibility of mental health or substance use disorder (MH/SUD) benefits with those of…
Earlier this year, we reported on the establishment of California’s new Office of Health Care Affordability (OHCA). In keeping with its mission, OHCA has recently introduced proposals in the form of regulations that provide detailed insights into their authority over various transactions in the healthcare space. These regulations are available for public viewing on the…
In recent times, a significant legal question has been making waves in legal and financial circles, focusing on the intersection of loan syndication and securities laws. At the heart of the debate is a critical question: Are syndicated term loans subject to federal and state securities laws? A decisive case currently pending in the U.S….
The recent enactment of the EU Foreign Subsidies Regulation (FSR), granting investigative powers to the European Commission on foreign subsidies with the potential to distort competition in the EU internal market, continues to have a profound effect on multinational corporations and legal practitioners around the globe. This impact is keenly felt in the transactional process,…
On June 27, 2023, a significant legislative shift occurred in the realm of employment law with the effectiveness of the Pregnant Workers Fairness Act (PWFA), impacting businesses employing fifteen or more individuals. The PWFA adds a fresh layer of protection for pregnant workers that are distinctly different from, and complimentary to, the benefits offered to…
The recent emergence of IFRS S1 and S2 Sustainability Disclosure Standards by the International Sustainability Standards Board (ISSB) has caused a significant shift in global sustainability discourse. ISSB, which was established by the IFRS Foundation (IFRS), launched what could be considered a worldwide baseline of disclosure standards to foster consistent and understandable notifications on risks…
A Federal Circuit panel focusing on allegations against 96-year-old Judge Pauline Newman has proposed a potentially significant outcome. They’ve recommended the suspension of Judge Newman from her duties for a period of one year. This decision comes as a direct result of the judge’s perceived lack of cooperation with the investigations into her mental fitness…
The issue of counterfeit goods is typically associated with high-end luxury fashion labels like Prada, Louis Vuitton, Gucci, Hermes, and the like. Public perception often holds that these counterfeit products are peddled in shady alleyways or on suspicious websites, easy to spot and avoid for the discerning consumer. However, as a recent analysis by Rivkin…
Recently, the Federal Trade Commission (FTC) and Department of Justice (DOJ) presented drafts of their proposed new Merger Guidelines. The main purpose of these revisions is to reflect and respond to the realities of the modern economy. These proposed guidelines will offer a new set of overarching principles for the FTC and DOJ to implement…
In a significant ruling on July 28, 2023, the Michigan Supreme Court diminished the commonplace application of the ‘open and obvious doctrine’ in premises liability claim cases. Two prominent cases sparked this modification in the interpretation and application of premises liability law in Michigan. These cases, Kandil-Elsayed v. F & E Oil, Inc., and Pinski…