vLex United States

  • CFTC Adopts Final Rules on Capital Requirements and Cross-Border Application of the Registration Thresholds for Swap Dealers and Major Swap Participants

    At open meetings on Wednesday, July 22, and Thursday, July 23, the CFTC approved, by a 3-2 vote, two significant final rules implementing provisions in the Dodd-Frank Act.  The first rule imposes capital requirements on swap dealers (“SDs”) and major swap participants (“MSPs”) that are not subject to supervision by a banking regulator, as well... (See Article)

    Aug 7, 2020 6:33 PM

  • COVID-19 Litigation Report – July 2020 #2

    Using timely research, Blank Rome’s COVID-19 litigation team provides a weekly report highlighting the latest cases and updates in key litigation areas, such as workplace claims, class actions, breach of contract claims, and more. The team also looks at emerging trends surrounding the pandemic and offers practical considerations for your business. (See Article)

    Aug 7, 2020 6:32 PM

  • Mejores prácticas bajo la Guía de Recursos Actualizada de la FCPA

    El 3 de Julio del 2020, el Departamento de Justicia de los Estados Unidos (“DOJ”) lanzó “Una guía de Recursos para la Ley de Prácticas Corruptas en el Extranjero de los Estados Unidos, segunda edición“. (See Article)

    Aug 7, 2020 6:32 PM

  • July Bid Protest Roundup (LAW360 Spotlight)

    In this month’s bid protest roundup (featured on Law360), we consider three protest decisions the GAO released in the month of July, each of which provides important guidance for companies competing for government contracts. The first involves an unusual twist on an offeror’s obligation to report pre-award changes in the availability of key personnel... Originally published in Law360 - August 6, 2020. (See Article)

    Aug 7, 2020 6:32 PM

  • The Real Deal: 5 Key Insights For Pandemic-Era Real Estate Investors

    The COVID-19 pandemic has caused a global economic slowdown, but that doesn’t mean all economic activity is flagging — just ask members of V&E’s real estate practice. Since the start of the pandemic, the real estate group has closed a wide array of transactions worth approximately $3.7 billion across the U.S... (See Article)

    Aug 7, 2020 6:32 PM

  • Process Planning Is an Essential Prerequisite to Successful Mediation in the Post-COVID-19 Era

    In March 2020, mediation in the United States underwent a sea change due to the COVID-19 pandemic. The situation is still evolving, and no one can predict what the future may hold. However, it has become clear that for the foreseeable future, the mediator must pay special attention to the procedures governing the mediation, and he or she must work with the parties to formulate and agree on those procedures in advance. (See Article)

    Aug 7, 2020 6:32 PM

  • Health Care Providers and the State of Liability Protections in the COVID-19 Era

    - As the COVID-19 pandemic continues, the clamor for liability protections for the nation’s health care providers continues. - Although there are serious political divisions, the COVID Phase 4 relief legislation may include sweeping liability protections. - Regardless of what happens in Congress, as detailed below, a large and growing number of states already have protections in place. (See Article)

    Aug 7, 2020 6:32 PM

  • Emerging Technologies Washington Update - August 2020 #1

    This week: FCC requests comment on social media order as White House withdraws O’Rielly nomination; U.S. Justice Department asks court to block California net neutrality law; FTC Commissioners testify before Senate Commerce on Section 230, antitrust; Congress voices support for Open Technology Fund; National Institutes of Health announces new COVID-19 testing technologies. (See Article)

    Aug 7, 2020 6:32 PM

  • U.S. Senators Vote Against Deputy Secretary Of Energy Nominee

    On August 4, 2020, U.S. Senators Joni Ernst (R-IA) and Chuck Grassley (R-IA) voted against Mark Menezes, who is nominated to become Deputy Secretary of Energy. In a statement, both Senators said that “[g]iven the uncertainty with the ‘gap year’ small refinery waivers, the wasted time and resources to score the waivers again, the lack of transparency in the entire process, and most importantly, the toll this has taken on Iowa’s farmers and biofuel producers, we could not in good faith support Mr. Menezes at this time.” (See Article)

    Aug 7, 2020 6:32 PM

  • No Harm, No Foul? Maybe Yes, Maybe No.

    If you have ever played in or watched a game in which the players called their own fouls, penalties or rules violations, you probably heard one of them respond to an alleged infraction by claiming, albeit with more colorful language, “I barely touched you!” or “That was no foul!” In the world of litigation, such a retort is the same as saying, “You lack standing to sue me,” and the concept of standing has gotten a lot of attention lately... (See Article)

    Aug 7, 2020 6:32 PM

  • Real Estate Adapts To The New COVID Normal

    Like most other industries, the real estate business was turned upside-down in March when the COVID-19 outbreak got real. Now that five months have passed and life with COVID-19 appears to be the new normal, some real estate trends are starting to shake out... (See Article)

    Aug 7, 2020 6:32 PM

  • China and Hong Kong Sanctions & Export Control Round Up: The HKAA, E.O. 13936, Xinjiang sanctions, and Supply Chain Guidance

    Over the last month, the United States has taken a variety steps to increase pressure on China in response to the imposition of China’s National Security Law in Hong Kong and alleged human rights abuses in Xinjiang. The restrictions include new sanctions programs targeting Hong Kong, new export control restrictions, and sanctions targeting actors in the Xinjiang region. (See Article)

    Aug 7, 2020 6:32 PM

  • Residential Evictions: What Homeowners Need To Know-UPDATED August, 2020

    REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which immediately suspends evictions and removals throughout the state. This is called an “eviction moratorium,” and it means that, except in rare circumstances, no homeowner may be removed from his or her home as a result of a foreclosure proceeding at this time... (See Article)

    Aug 7, 2020 6:32 PM

  • Wait – Could You Go Over That Again?? Federal Court Sows Confusion By Invalidating Some FFCRA Regulations

    A federal judge in New York recently invalidated several parts of the U.S. Department of Labor’s (“USDOL”) regulations related to the Emergency Paid Sick Leave Act and the Emergency Family and Medical Leave Expansion Act, which Congress passed earlier this year as part of the Families First Coronavirus Response Act (“FFCRA”). The Court struck down the provision that made paid leave available to employees only if their employers had work available for them to do; the expansive definition of an excludable “health care provider;” the ability of an employer to withhold consent for intermittent leave; and the requirement of advance documentation of the need for leave... (See Article)

    Aug 7, 2020 6:32 PM

  • You Must Prove Actual Damages If You Want Punitive Damages In An Infringement Action

    Imagine litigating an infringement case for two years, and after a nine day jury trial, obtaining a jury’s verdict that says you’ve established infringement and awards your client $5,000,000. Then you realize that the jury has awarded your client $0 in actual damages, and the entire $5,000,000 sum is for punitive damages. The Ninth Circuit in an unpublished opinion in Monster Energy Company v. Integrated Supply Network, LLC (July 22, 2020), reiterated that a party is not entitled to punitive damages without a finding of actual damages... (See Article)

    Aug 7, 2020 6:32 PM

  • Court Finds A Voluntary Severance Package May Be An Adverse Action Under ADEA

    In Andrews v. Williams WPC-I, LLC et al., 4:19-cv-02200 (M.D. Penn. July 16, 2020), the U.S. District Court for the Middle District of Pennsylvania held that a severance package can be an adverse action under the federal Age Discrimination in Employment Act (ADEA). In Andrews, the plaintiff worked as a Senior Operations Technician. In 2019, the employer issued a voluntary separation agreement to all its employees who would be 55 years of age or older on December 31, 2019... (See Article)

    Aug 7, 2020 6:32 PM

  • CFPB Releases Small Business Lender Compliance Cost Survey to Aid in Dodd-Frank 1071 Rulemaking

    Recently, the CFPB released an online survey designed to collect information from “institutions engaged in small business financing” regarding one-time costs of compliance with Dodd-Frank 1071. Section 1071 of the Dodd-Frank Act, which we have discussed in detail on this blog, creates robust reporting requirements for lenders engaged in lending to women-owned, minority-owned, and small businesses that are similar to requirements created by the Home Mortgage Disclosure Act (HMDA). The CFPB has made several recent statements that shed light on its rulemaking timeline. This survey, which expires on October 1, 2020, provides yet another indication that the CFPB is pressing ahead with its implementation of Rule 1071, and any institution engaged in financing small businesses should consider submitting a survey response. (See Article)

    Aug 7, 2020 6:32 PM

  • ESG Goes Mainstream: How “Return First” PE Funds Can Factor ESG Considerations Into Their Investment And Portfolio Management Strategies

    Considering environmental, social, and governance (ESG) factors when making an investment is no longer solely the province of “impact-first” investors—those who prioritize social or environmental impact above return on capital—but has become, to one degree or another, the norm among private equity (PE) funds. As the calls from both investors and consumers for companies to integrate ESG considerations into their operations and rethink the way they have done business grow louder, funds are increasingly looking to respond to these concerns and integrate consideration of ESG factors into their investment and portfolio management strategies... (See Article)

    Aug 7, 2020 6:32 PM

  • Employers May Face Liability on Outstanding Medical Bills Even After a Compromise and Release Agreement

    Numerous decisions have been issued in recent years by the Pennsylvania Commonwealth Court that impact the liability of employers to pay medical bills/expenses. For example, in Armour Pharmacy v. Bureau of Workers’ Compensation Fee Review Hearing Office (National Fire Insurance Company of Hartford), 192 A.3d 304 (Pa. Cmwlth. 2018 (also known as Armour I), the Commonwealth Court held that an employer cannot curtail its liability to pay a provider for medical bills through language in a C&R Agreement when the provider is not a party to the agreement and has not been given notice or an opportunity to be heard on the issue. (See Article)

    Aug 7, 2020 6:32 PM

  • Occupancy Limitation Update: Clarification from New York State Regarding Reopening Restrictions

    When New York published reopening guidance in the spring, the occupancy restriction was one of the most unclear mandates. Most of the guidance documents state that “responsible parties” must limit occupancy—including workers, visitors and customers—to 50% or less of the maximum occupancy for a particular area, as set by the certificate of occupancy. This limitation has created much confusion throughout the reopening process, because many businesses’ certificates of occupancy do not indicate a maximum occupancy. (See Article)

    Aug 7, 2020 6:32 PM

  • HHS Offers Certain Providers a Second Opportunity to Receive General Distribution Funding

    On July 31, 2020, the U.S. Department of Health and Human Services (HHS) announced an opportunity for certain Medicare providers, who missed the chance to apply for additional Provider Relief Fund (PRF) payments from the $20 billion portion of the $50 billion Phase 1 General Distribution, to be considered for funding. HHS is also extending the Phase 2 General Distribution application deadline for Medicaid, Children’s Health Insurance Program (CHIP), and dental providers. (See Article)

    Aug 7, 2020 6:32 PM

  • Federal Ruling Creates Tremendous Uncertainty Around Coronavirus Leave Rules

    The Families First Coronavirus Response Act (FFCRA) was passed by Congress on March 18 and generally provides new paid leave rights to employees working for public entities or companies with fewer than 500 employees. On April 1, the U.S. Department of Labor (DOL) promulgated its final rule implementing the FFCRA. (See Article)

    Aug 7, 2020 6:32 PM

  • And Then There Were Four. . . Deadly Sins for Delaware Statutory Trusts

    In 2004, the Internal Revenue Service (IRS) created a list of “seven deadly sins” for Delaware Statutory Trusts (DSTs) in Revenue Ruling 2004-86 (Rev. Rul. 2004-86). The revenue ruling describes how a DST holding only real estate can be a fixed investment trust. If a DST doesn’t commit any of the so-called seven deadly sins, its investors can obtain tax deferral of gains on the sale of real estate similar to those they would have with a Section 1031 exchange. (See Article)

    Aug 7, 2020 6:32 PM

  • ABA Practice Forward Effort to Guide Next-Generation Lawyers

    The coronavirus pandemic has stimulated change throughout the legal community, whether it’s judges conducting videoconference trials and managing partners re-thinking office space needs, or lawyers innovating new ways of delivering legal services. (See Article)

    Aug 7, 2020 6:32 PM

  • Treasury Department, IRS Issue Final GILTI High-Tax Exception Regulations

    The final regulations addressing the GILTI high-tax exception retain the general approach of the proposed regulations with some simplifying changes. Key Points: ..Taxpayers can elect on an annual basis whether to exclude income subject to high foreign taxes from the computation of GILTI minimum tax on foreign earnings. ..Taxpayers can make this election retroactively for tax years beginning on or after January 1, 2018. ..The election, if made, applies to all of the taxpayers’ controlled foreign corporate subsidiaries. ..A complex process of matching items of income to foreign taxes paid hinders the ability to exclude low-taxed income by blending items of income subject to diffe (See Article)

    Aug 7, 2020 6:32 PM

  • The Franchise Memorandum - Issue # 256

    Welcome to The Franchise Memorandum by Lathrop GPM, formerly known as The GPMemorandum. Periodically, The Franchise Memorandum focuses on topics primarily of interest to companies that use distributors and dealers rather than manage a business format franchise system. The distribution-related topics in this issue include franchise associations, good faith and fair dealing, and antitrust. Given the widespread and evolving impact of the COVID-19 pandemic, this issue also includes recent developments and resources related to COVID-19. Please see full Publication below for more information. (See Article)

    Aug 7, 2020 6:32 PM

  • Recent OCC Actions Focus Attention on Financial Crime Controls for Cryptocurrency Custody Businesses

    Two recent actions by the Office of the Comptroller of the Currency (OCC) - one enforcement action and one interpretive note - focus attention on the kinds of anti–money laundering (AML) controls needed for banks to custody cryptoassets while meeting their obligations to fight financial crime. While cryptocurrency does have some unique characteristics that make it higher risk than traditional financial services, established frameworks to manage the financial crime risks attendant with correspondent banking and other intermediated businesses can be applied to the cryptocurrency context to mitigate the extant risk in most circumstances. (See Article)

    Aug 7, 2020 6:32 PM

  • CCPA Update – It’s Time to Review Your Compliance Checklist

    The California Consumer Privacy Act (CCPA), which is the most groundbreaking data security legislation in the United States, is now enforceable. Broadly, the CCPA provides consumers access and control over their personal information. It also allows users to have a say in how organizations collect, use, and disseminate this personal data. The law is revolutionary… (See Article)

    Aug 7, 2020 6:32 PM

  • Separate PPP Loan Forgiveness FAQs Now Released

    The Small Business Administration (in consultation with the Department of the Treasury) has issued a separate set of FAQs to deal with the forgiveness component of the Paycheck Protection Program. The FAQs provides some plain language direction regarding... (See Article)

    Aug 7, 2020 6:32 PM

  • Is There Signs Of Life In A&D Activity?

    Is A&D activity picking up in the upstream oil and gas sector and, if so, is now the right time to find attractive deals?  (See Article)

    Aug 7, 2020 6:32 PM