Author Info for King & Spalding

Leah Aaronson

Morgan v. Sundance: Prejudice Not Required To Waive Arbitration Rights

In Morgan v. Sundance, the Supreme Court unanimously concluded this week that waiving arbitration rights does not require a showing that the party seeking to have their case heard in federal court would be prejudiced by…more

Appeals, Arbitration, Binding Arbitration, Employment Application, Federal Arbitration Act

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Stephen Abreu

National Telecommunications And Information Administration Issues Report Regarding “Botnets and Other Automated, Distributed Threats”

On September 18, 2017, the National Telecommunications and Information Administration (“NTIA”), the executive branch agency that is principally responsible for advising the President on telecommunications and information policy…more

Cyber Threats, Cybersecurity, Executive Orders, NTIA, Popular

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Ranee Adipat

11th Circuit Bars False Claims Act Relator From Forfeiture Case

If a whistleblower brings a False Claims Act (FCA) claim against a defendant, and the government forgoes intervening in the FCA case and instead chooses to pursue criminal prosecution and forfeiture proceedings, the Eleventh…more

False Claims Act (FCA), Forfeiture, Whistleblowers

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Elizabeth Adler

New Cyber Incident Reporting Law Covering Range of Critical Infrastructure Companies

On March 15, 2022, President Biden signed into law the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (the “Act”) as part of an omnibus appropriations bill. The Act compels “covered entities” — companies in a…more

Critical Infrastructure Sectors, Cyber Attacks, Cyber Incident Reporting, Cybersecurity, Cybersecurity Information Sharing Act (CISA)

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Hamed Afzal

Private Over Public? An Emerging Markets Perspective

The private placement of debt securities, compared to the more common public issuances, has grown in popularity in recent years, particularly in emerging markets such as those in the Middle East. Whilst there is little publicly…more

Capital Markets, Debt Securities, Disclosure Requirements, Emerging Markets, Institutional Investors

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Thomas Ahlering

Is Illinois’ GIPA the Next BIPA?

Perhaps in response to recent success pursuing claims under Illinois’ Biometric Information Privacy Act (BIPA), the plaintiffs’ bar is now also pursuing class actions against employers under another unique Illinois privacy law…more

Biometric Information Privacy Act, Class Action, Compliance, Corporate Counsel, Genetic Testing

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Usman Ahmad

Energy Newsletter - April 2017

Navigating Private Equity Fund Limitations for Energy Infrastructure-Focused Investments - Energy infrastructure funds have emerged as a class of funds that offer investors the potential for long-term stable returns, as well…more

Argentina, Bankruptcy Court, Energy Sector, Infrastructure, Keystone XL Pipeline

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Sajid Ahmed

India to Promote Mining of Lithium and Five Other Critical Minerals

On 2 August 2023, India’s Parliament passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2023 (“Amendment Bill”) to amend the Mines and Minerals (Development and Regulation) Act, 1957 (“Act”). The Act…more

Atomic Energy, India, Mineral Exploration, Mineral Leases, Minerals

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Joseph Akrotirianakis

Energy Newsletter - October 2018

Court Faults FERC in its Handling of ANR Storage Company’s Six Year Quest for Authorization to Charge Market-Based Rates for Natural Gas Storage Services - On September 21, 2018, the U.S. Court of Appeals for the District of…more

Energy Sector, FERC, Human Rights, Lebanon, Oil & Gas

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Zaid Hadir Al-Farisi

The 2024 UAE Financial Restructuring and Bankruptcy Law: What is New?

On 31 October 2023, Federal Law Decree No. (51) concerning Financial Restructuring and Bankruptcy (the New Law) was published in the UAE Federal Gazette. The New Law comes into force on 1 May 2024 and will repeal the 2016 Law on…more

Automatic Stay, Bankruptcy Court, Bankruptcy Trustees, Commercial Bankruptcy, Creditors

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Faris Al-Lousi

Saudi Arabia’s Vision 2030 – Securing PPP Value for Money and the Criticality of Monitoring and Root Cause Analyses

Introduction - Much of the PPP debate in Saudi Arabia has focussed on the importance of shifting the public sector expenditure burden to the private sector. Wherever this has been the sole focus of a PPP programme, the…more

Contractors, Infrastructure, Oil & Gas, Private Sector, Public Private Partnerships (P3s)

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Mohammed AlAmmar

Judicial Guidance on the Impact of COVID-19 on KSA Construction Projects

The COVID-19 pandemic has had, and continues to have, an obvious impact on construction and other projects throughout the Middle East. As far back as March 2020, those involved with managing construction projects would have…more

Construction Project, Contractors, Coronavirus/COVID-19, Force Majeure Clause, New Guidance

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Saud Aldawsari

Amendments to the Saudi Labor Law

On 6 August 2024, the Council of Ministers approved amendments to the Kingdom of Saudi Arabia (“KSA”) Labor Law and its Implementing Regulations. These will come into force on 19 February 2025, 180 days after being published in…more

Compliance, Employee Benefits, Employee Training, Employment Contract, Federal Labor Laws

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Claire Alexander

SEC Proposes Amendments to Financial Disclosures for Acquisitions and Dispositions

On May 3, 2019, the Securities and Exchange Commission (“SEC”) proposed amendments to the financial disclosure requirements in Rules 3-05, 3-14 and Article 11 of Regulation S-X governing acquisitions and dispositions of…more

Acquisitions, Capitalization, Comment Period, Corporate Governance, Disclosure Requirements

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Katharine Alexander

California Enacts Law Requiring Female Representation on Boards

On September 30, 2018, California Governor Jerry Brown signed into law Senate Bill No. 826 (SB 826). SB 826 adds Sections 301.3 and 2115.5 to the California Corporations Code to require that a publicly held company with a…more

Board of Directors, Diversity, Gender Equity, Woman Board Members

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Carolyn Zander Alford

Regulation S-X Updates and the Pro Forma EBITDA Add-back

On May 21, 2020, the Securities and Exchange Commission (the “SEC”) adopted amendments to the financial disclosure requirements in Regulation S-X (the SEC’s accounting rules for the form and content of financial statements…more

Borrowers, EBITDA, Financial Statements, Lenders, Management Adjustments

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James Alford

Energy Newsletter - April 2017

Navigating Private Equity Fund Limitations for Energy Infrastructure-Focused Investments - Energy infrastructure funds have emerged as a class of funds that offer investors the potential for long-term stable returns, as well…more

Argentina, Bankruptcy Court, Energy Sector, Infrastructure, Keystone XL Pipeline

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Salma Alheraiqi

Amendments to the Saudi Labor Law

On 6 August 2024, the Council of Ministers approved amendments to the Kingdom of Saudi Arabia (“KSA”) Labor Law and its Implementing Regulations. These will come into force on 19 February 2025, 180 days after being published in…more

Compliance, Employee Benefits, Employee Training, Employment Contract, Federal Labor Laws

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Jawad Ali

A Trustee’s First Duty: Maximizing the Value of an Insolvency Estate

The foremost duty of a bankruptcy trustee is to maximize the value of the debtor’s assets for the benefit of its stakeholders. Numerous provisions of Saudi Arabia’s current bankruptcy law (the “Bankruptcy Law”) underscore the…more

Debtors, Reorganizations, Rules of Professional Conduct, Saudi Arabia, Third-Party

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Anne Allen

CMS Issues Wide-Ranging Proposed Rule on Medicare Managed Care (Part C) and Prescription Drug Plans (Part D)

On November 16, 2017, the Centers for Medicare & Medicaid Services(“CMS”) published for public inspection a proposed rule that would impact a variety of Medicare Part C and Part D program provisions. The proposed rule, Medicare…more

Centers for Medicare & Medicaid Services (CMS), Comprehensive Addiction and Recovery Act of 2016 (CARA), Medicare, Medicare Part C, Medicare Part D

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Roxanne Almaraz

Energy Newsletter - August 2017

Practical Issues Under Joint Operating Agreements Relating to Withdrawals, Transfers and Changes in Control - In light of their long term objectives and potential future transactions, parties should consider the implications…more

Africa, Appeals, Canada, Commercial Bankruptcy, Condition Precedent

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Erich Almonte

Key Recent Developments In Environmental Justice Litigation

Louisiana remains at the forefront of environmental justice activity. In just four days from January 19 to January 23, 2024, two courts in Louisiana offered interpretations to environmental justice efforts in the State of…more

Anti-Discrimination Policies, Appeals, Civil Rights Act, Clean Air Act, Department of Environmental Quality

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Joël Alquezar

Sapin II Law: The Modernization of France's Fight Against Corruption

After years of facing international criticism for purported “laxity” towards transparency and the fight against bribery and corruption, France has adopted new legislation aiming to rectify this deficiency, which imposes…more

Anti-Corruption, Bribery, Compliance, Criminal Prosecution, France

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Meshaal Alyahya

Saudi Arabia's New Investment Law

On August 11, 2024, the Kingdom of Saudi Arabia (the “Kingdom” or “Saudi Arabia”) issued the new Investment Law, pursuant to Royal Decree number M/19 (the “New Investment Law”), which is intended to replace the Foreign…more

Dispute Resolution, Foreign Investment, Incentives, Investment, Investors

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Leo Amiel

Trade & Manufacturing - November 2019

China And The United States Reportedly Nearing A Deal On Trade Agreement United States - The United States and China are nearing the conclusion of negotiations for a limited trade agreement, which reportedly could be signed…more

Anti-Dumping Duty, China, India, Steel Industry, Tariffs

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Sam Anastasiou

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Cueneyt Andac

Zeitlich befristete Änderung der Insolvenzantragspflicht wegen Überschuldung

Erneute Lockerung der Insolvenzantragspflicht durch das SanInsKG - Mit dem „Gesetz zur vorübergehenden Anpassung sanierungs- und insolvenzrechtlicher Vorschriften zur Abmilderung von Krisenfolgen“ (kurz: Sanierungs- und…more

Coronavirus/COVID-19, Insolvency, Liability, Reorganizations, Restructuring

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Erik Andersen

New York City and Los Angeles Require New Building Standards to Address Climate Change

New York City and Los Angeles have announced unprecedented plans to address climate change with an emphasis on greenhouse gas emissions from large buildings. New York City enacted a legislation package requiring certain…more

Building Codes, Carbon Emissions, Climate Change, Commercial Real Estate Market, Construction Industry

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Jenna Anderson

CMS Issues Final Rule Updating Hospice Payment Rates for Fiscal Year 2025

On July 30, 2024, CMS issued (CMS-1810-F), its final rule updating the Medicare hospice payment rates and aggregate cap amount for fiscal year (FY) 2025 (the Final Rule). Highlights of the Final Rule are below…more

Centers for Medicare & Medicaid Services (CMS), Final Rules, Inpatient Prospective Payment System (IPPS), Medicare, Payment Systems

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Jeremiah Anderson

Energy Newsletter - May 2017

Taking the Long View - How Appropriate Foresight Supports the Development and Execution of Large-Cap Construction Projects - Introduction - The arduous, start-to-finish process of developing and constructing a…more

Architects, Construction Industry, Energy Sector, Exports, Oil & Gas

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John Anderson

Russia Moves Closer to Nationalizing Businesses Intending to Exit Russia

Since Russia’s invasion of Ukraine, some 300 large international companies have announced intentions to scale back or shut down operations within Russia. On March 7, Russia’s ruling party reacted to the exodus by announcing that…more

Arbitration, Business Closures, Economic Sanctions, Foreign Corporations, Russia

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Jalise Burt Andrews

Emerging Themes Relating to the Use of Artificial Intelligence in the Workplace

Companies are increasingly exploring the use of artificial intelligence (AI) and automated decision-making technologies to manage human capital, including for recruitment, hiring and performance purposes. Vendors offer automated…more

Algorithms, Americans with Disabilities Act (ADA), Analytics, Anti-Discrimination Policies, Artificial Intelligence

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Michael Andrews

Energy Newsletter - April 2019

Shifting Dynamics in Latin America - On March 5, 2019, King & Spalding hosted an Energy Forum, titled “Shifting Dynamics in Latin America”, to discuss the political and regulatory changes in Latin America and their impact on…more

Climate Change, Cross-Border Transactions, Due Diligence, Energy & Climate Debates, Energy Sector

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Anne-Eva Antonenko

Blue Hydrogen and Ammonia: EU’s Rules for Low Carbon Fuels Released for Consultation

On 27 September 2024, the European Commission (“EC”) published draft rules defining “low-carbon hydrogen” and derivative “low-carbon fuels” in the EU (the “Draft Low-Carbon Hydrogen DA”). A public consultation is now open until…more

Carbon Capture and Sequestration, EU, Greenhouse Gas Emissions, Hydrogen Power, Methane

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Martina Antosova

Take No Notice and Wa(i)ve Goodbye to Claims

Takeaways From a Recent English Court Case on Notice Obligations - Many construction contracts provide that the contractor’s entitlement to an extension of time and/or additional cost is conditional upon the service of a…more

Contract Terms, Estoppel, FIDIC Contracts, Liquidation, Notice Requirements

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Emily Apte

U.S. Fifth Circuit Decides Against Its Proposed Rule Amendment on AI Use in Legal Filings

On November 22, 2023, the United States Court of Appeals for the Fifth Circuit proposed an amendment to 5th Cir. Rule 32.3 and Form 6, which would have introduced a requirement for attorneys to certify the extent to which they…more

Appeals, Artificial Intelligence, Federal Rules of Appellate Procedure, Machine Learning, Proposed Rules

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Jonathan Arkins

Options for Using SOFR in New ABS, MBS, and CMBS Products

The Alternative Reference Rates Committee (“ARRC”) convened by the Federal Reserve Board and the Federal Reserve Bank of New York, with the assistance of its Securitizations Working Group released a report (the “Report”) on…more

Alternative Reference Rates Committee (ARRC), CMBS, Secured Overnight Funding Rate (SOFR), Securitization

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John Gardner Armsby

CMS Releases FY 2024 Medicare Inpatient Psychiatric Facility Prospective Payment System and Quality Reporting Final Rule

On July 27, 2023, CMS issued a final rule (Final Rule) which revises Medicare policies and rates for the Inpatient Psychiatric Facility (IPF) Prospective Payment System (PPS) for the 2024 fiscal year (FY 2024). Among other…more

Centers for Medicare & Medicaid Services (CMS), Final Rules, Inpatient Prospective Payment System (IPPS), Medicare Administrative Contractors (MAC), Vaccinations

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Kathryn Armstrong

The Establishment of the White House Gender Policy Council and Its Implications for FDA Initiatives and Priorities

On March 8, 2021, President Biden signed an Executive Order, establishing a Gender Policy Council (“the Council”) tasked with the broad policy goal of “advancing gender equity and equality” for the purpose of reducing poverty,…more

Biden Administration, Clinical Trials, Coronavirus/COVID-19, Executive Orders, Food and Drug Administration (FDA)

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Norman Armstrong, Jr.

FTC and DOJ Issue New Merger Guidelines

On December 18, 2023, the U.S. antitrust enforcers, the Federal Trade Commission (“FTC”) and the Antitrust Division of the Department of Justice (“DOJ”) (collectively, the “Agencies”), issued their final Merger Guidelines…more

Acquisitions, Anti-Competitive, Antitrust Provisions, Department of Justice (DOJ), Enforcement

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Taylor Armstrong

REIT Advisor – August 2020 - Recent Amendment Trends for REIT Credit Facilities

The onset of the novel Coronavirus pandemic (“COVID-19”) led to an abrupt shutdown of businesses worldwide and across numerous industries. The shutdown’s impact on the commercial real estate market generally, and on REITs…more

Borrowers, Commercial Real Estate Market, Compliance, Coronavirus/COVID-19, Credit Facilities

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Michael Arruda

CO2 Exports in Asia Pacific: Japan’s Approval of the 2009 Amendment to the London Protocol

In this Alert, we review the impact of the recent acceptance by the Japan Diet of the 2009 Amendment to the London Protocol. Acceptance of the Amendment provides a critical enabler for the export of CO2 from Japan for…more

Carbon Capture and Sequestration, Carbon Emissions, Conservation, Energy Storage, Exports

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Fernand Arsanios

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Kassandra Ashford

Departments Finalize Rule on Mental Health Parity

On September 9, 2024, the Department of Labor, the Department of the Treasury, and HHS (the Departments) jointly issued a final rule (the Final Rule) amending regulations implementing the Paul Wellstone and Pete Domenici Mental…more

Department of Health and Human Services (HHS), Department of Labor (DOL), Mental Health, Mental Health Parity Rule, MHPAEA

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Ahmad Asir

FCC Net Neutrality War

On April 27, 2017, the Federal Communications Commission (“FCC”) released a draft Notice of Proposed Rulemaking (“NPRM”), proposing to reverse the FCC’s 2015 Open Internet Order (“Title II Order”), which had applied Title II of…more

Broadband, Communications Act of 1934, FCC, Federal Trade Commission (FTC), Internet Service Providers (ISPs)

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A. Seth Atkisson

Federal District Court in Alabama Declares CTA Unconstitutional; DOJ Appeals to 11th Circuit; FinCEN Requires Continued Compliance

On March 1, 2024, a federal judge in the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (“CTA”) is unconstitutional. The CTA and its implementing regulations require that many…more

Alabama, Beneficial Owner, Civil Monetary Penalty, Corporate Transparency Act, Criminal Penalties

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Osama Audi

Energy Newsletter - September 2020

Climate Change Litigation on the Horizon with Trump Environmental Overhaul - On July 16, 2020, President Trump’s Council on Environmental Quality (“CEQ”) published the long-awaited final rule revising the implementing…more

CEQ, CFIUS, Climate Change, Coronavirus/COVID-19, Debt Restructuring

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Henning Aufderhaar

„Green Leases“ auf dem Weg zum Branchenstandard?

Ausgehend von der politischen Vorgabe, bis zum Jahr 2050 einen CO2-neutralen Gebäudebestand zu erreichen, spielen die Themen Nachhaltigkeit und ESG (Environment, Social, Governance) in letzter Zeit in der Immobilienwirtschaft…more

Environmental Social & Governance (ESG), Incentives, Real Estate Investments, Real Estate Market, Rental Property

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Marcia Augsburger

OCR Updates Ransomware Guidance

On June 9, 2021, OCR distributed an update to those on its Privacy List sharing links to alerts and resources for addressing the growing number and size of ransomware incidents. One such resource included a White House memo…more

Cyber Attacks, Cybersecurity, Data Protection, Data Security, Electronic Protected Health Information (ePHI)

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Conrad Axelrod

NAIC's Focus on Investment Management Agreements (IMAs) involving Private Equity-Owned Insurers

As private equity investors continue to increase their presence in the insurance industry with acquisitions of insurers and reinsurance of blocks of insurance contracts through insurer portfolio companies and segregated cells,…more

Conflicts of Interest, Insurance Industry, Investment Management, Investors, Life Insurance

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Cristina Azcoitia

Accelerated Covid-19 Vaccine Clinical Trials

Liability exposure and shields for vaccine developers - As the number of COVID-19 cases continues to rise every day, efforts to develop vaccines across the globe have hit record speeds. In the U.S., the U.S. Food and Drug…more

Center for Biologics Evaluation and Research (CBER), Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Department of Health and Human Services (HHS), European Medicines Agency (EMA)

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Ahsin Azim

HHS Finalizes Disincentives for Healthcare Providers That Have Committed Information Blocking

Last week, HHS published its final rule outlining disincentives for certain healthcare providers that have committed information blocking (the Final Rule). The Final Rule also provides information related to OIG’s investigation…more

21st Century Cures Act, Department of Health and Human Services (HHS), Electronic Medical Records, Enforcement Actions, Final Rules

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Hanna Azkiya

Quantum Quarterly – Issue 12 – 4 Quarter 2020

Claimant is an Australian joint venture between Chile’s Antofagasta plc and Canada’s Barrick Gold Corporation. In 2006, Claimant became a party to a joint venture agreement between it and the Government of Balochistan with the…more

Arbitration, Burden of Proof, Causation, Compensation, Contributory Negligence

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Haifa Bahaian

Amendments to the Saudi Labor Law

On 6 August 2024, the Council of Ministers approved amendments to the Kingdom of Saudi Arabia (“KSA”) Labor Law and its Implementing Regulations. These will come into force on 19 February 2025, 180 days after being published in…more

Compliance, Employee Benefits, Employee Training, Employment Contract, Federal Labor Laws

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Christopher Bailey

Tokyo Dispute Resolution & Crisis Management Newsletter – August 2020 - Mining Arbitration in the Asia-Pacific

The Asia-Pacific region integrates the mining industry within the life cycle of the global economy more fluidly than perhaps anywhere else in the world. Metals and minerals extracted from the region are transported to the…more

Arbitration, Asia Pacific, Contractors, Global Economy, Infrastructure

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Nell Bailey

DEA Proposes New Rules for Telemedicine Prescriptions

Would Require In-Person Examination In Many Prescribing Scenarios - Almost fifteen years ago, Congress amended the Controlled Substances Act (CSA) to reduce illegitimate, Internet-based access to controlled drugs while, at…more

Compliance, Controlled Substances Act, DEA, Health Care Providers, Healthcare

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Sedric Bailey

Department of Justice Reverses Course on Class Action Waivers

In the ongoing debate over whether class action waivers in employee arbitration agreements violate the National Labor Relations Act (“NLRA”), the Department of Justice (“DOJ”) has done an about-face–switching stances from…more

Arbitration Agreements, Class Action, Class Action Arbitration Waivers, Department of Justice (DOJ), NLRA

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Britney Baker

Recent Developments in Coburn: Walking the Tightrope of Cooperating with DOJ while Maintaining an Independent Investigation

In February 2022, a District of New Jersey court in United States v. Coburn took the surprising step of compelling a private company to produce internal investigation materials to two of its former executives, who were indicted…more

Attorney-Client Privilege, Brady Violation, Corporate Misconduct, Department of Justice (DOJ), Evidentiary Hearings

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David Balser

Gas Stove Ban Update: Ninth Circuit Says "No" to City of Berkeley Ban on Gas Stoves

The gas stove wars continue to heat up. On April 17, 2023, the United States Court of Appeals for the Ninth Circuit took a stand and ruled that the City of Berkeley does not have the authority to prohibit connecting natural gas…more

Appeals, Consumer Product Safety Commission (CPSC), Department of Energy (DOE), ECPA, Natural Gas

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Elisabeth Baltay

Enforcing Releases in Bankruptcy

Bankruptcy Court Determines Standard for Enforcing Non-Consensual Third-Party Releases in a Chapter 15 Case Differs From Applicable Standard in Chapter 11 Cases - On April 9, 2018, in In re Avanti Communcs. Group Plc, Case…more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 15

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Raymond Baltz, Jr.

Buyers Beware - Delaware Chancery Court Orders CorePower to Honor Acquisition of Franchisee Studios

On March 1, 2022, Vice Chancellor Slights of the Delaware Chancery Court ordered CorePower Yoga (“CorePower”) to close the acquisition of 34 yoga studios from its largest franchisee, Level 4 Yoga (“Level 4”). The parties entered…more

Acquisitions, Coronavirus/COVID-19, Damages, Force Majeure Clause, Material Adverse Effects

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Heather Banuelos

FDA Issues Updated Draft Guidance on Addressing Misinformation About Medical Devices and Prescription Drugs

On July 8, 2024, the U.S. Food and Drug Administration (“FDA”) issued a new draft guidance for industry titled, Addressing Misinformation About Medical Devices and Prescription Drugs – Questions and Answers (hereafter,…more

Advertising, Disclosure Requirements, Draft Guidance, Enforcement, False Advertising

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Patricia Barmeyer

EPA Rejects Clean Water Act “Conduit Theory”

Whether a discharge to groundwater that results in pollution of jurisdictional surface waters is regulated under the Clean Water Act (the “CWA”) is the subject of much debate, conflicting decisions from the Circuit Courts of…more

Appeals, Clean Water Act, Discharge of Pollutants, Environmental Protection Agency (EPA), Groundwater

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Brian Barnes

U.S. Supreme Court Unanimously Rules On Standing Requirements For Section 11 Claims In Direct Listings

On June 1, 2023, the United States Supreme Court unanimously held that a stockholder bringing claims under Section 11 of the Securities Act of 1933 must plead and prove that they purchased shares traceable to the allegedly…more

Direct Listing, Initial Public Offering (IPO), NYSE, SCOTUS, Section 11

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John Barnes

California Court of Appeal Decision Highlights Importance of Technical Details in Billing Practices and Managed Care Agreements

Hospitals and other health care providers work hard to eliminate billing and coding errors, but mistakes still happen. When those mistakes occur, health plans sometimes try to capitalize on the error by using it as a basis to…more

Appeals, Billing, California, Health Care Providers, Managed Care Contracts

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Julia Barrett

Neiman Marcus Settles Data Breach Consumer Class Action For $1.6 Million

On June 21, 2017, the U.S. District Court for the Northern District of Illinois entered an order granting preliminary approval of a $1.6 million class action settlement between Neiman Marcus and a class of its customers whose…more

Class Action, Data Breach, Neiman Marcus, Personally Identifiable Information

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Kathryn Barry

Surprise Year-End SEC Disgorgement Legislation Settles Some Issues but Raises Others

The legitimacy and scope of the SEC’s “disgorgement” remedy have been the focus of increasing scrutiny for the better part of the past decade. Among other things, two Supreme Court decisions in the past four years placed…more

Appropriation, Disgorgement, Investors, Kokesh v SEC, Liu v Securities and Exchange Commission

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Mohammed Basama

ZATCA Clarifies the Requirements for Granting a 30-Year Tax Relief to Multinational Corporations under the Regional Headquarters Program

The Government of the Kingdom of Saudi Arabia (“Kingdom”) in February 2021 announced its objective to limit governmental contracting with multinational companies (“MNCs”) that do not have a Regional Headquarter (“RHQ”) in the…more

Income Taxes, Multinationals, Saudi Arabia, Withholding Tax

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Stephen Baskin

COVID-19 Impacts on Businesses and Their Intellectual Property Rights

Part 2 of a 2 Part Series: Avoiding and/or Eliminating Loss of IP Rights During the COVID-19 Pandemic - As a follow-on to our series, COVID-19 Impacts on Businesses and Their Intellectual Property Rights, companies need to…more

Coronavirus/COVID-19, Domain Names, Intellectual Property Protection, Patents, Proprietary Information

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W. Randall Bassett

Florida Enacts Transformative Tort Reform Legislation

On Friday, March 24, 2023, Governor Ron DeSantis signed into law House Bill 837, providing an overhaul to tort law in the state of Florida. The new legislation makes transformative changes, including reducing the statute of…more

Attorney-Client Privilege, Bad Faith, Disclosure Requirements, Florida, Liability

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Matthew Baughman

Surprise Year-End SEC Disgorgement Legislation Settles Some Issues but Raises Others

The legitimacy and scope of the SEC’s “disgorgement” remedy have been the focus of increasing scrutiny for the better part of the past decade. Among other things, two Supreme Court decisions in the past four years placed…more

Appropriation, Disgorgement, Investors, Kokesh v SEC, Liu v Securities and Exchange Commission

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Benjamin Bay

Trade & Manufacturing - February 2019 #2

The World Trade Organization Predicts “Revolutionary” Impact for Blockchain Technology On Digital Global Trade - The World Trade Organization (“WTO”) recently published its report, entitled “Can Blockchain Revolutionize…more

Blockchain, Cross-Border Transactions, Distributed Ledger Technology (DLT), E-Commerce, Imports

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Robin Bayley

Hydrogen: State of Play in the GCC

Much has been written about the role of hydrogen in the context of energy transition and the path to net zero. Putting aside for the moment the degree of investment and innovation required to get from where we are now to where…more

Carbon Capture and Sequestration, EU, Financial Institutions, Fossil Fuel, Greenhouse Gas Emissions

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Andrew Bayman

Tort Immunity under PREP Act and COVID-19 Response Declaration

Pursuant to the Public Readiness and Emergency Preparedness Act (“PREP Act”), on March 17, 2020, the Secretary of Health and Human Services (“HHS”) published the Declaration Under the Public Readiness and Emergency Preparedness…more

Coronavirus/COVID-19, Department of Health and Human Services (HHS), Emergency Use Authorization (EUA), Food and Drug Administration (FDA), Immunity

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Kenneth Beale

The United States Signs the 2019 Hague Judgments Convention

On March 1, 2022, the United States became the sixth State to sign the 2019 Hague Convention on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters (“Judgments Convention”). If ratified, the…more

EU, Foreign Judgments, Hague Convention, SCOTUS, The Hague

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Brooke Bean

Trustee’s Fraudulent Transfer Claims Survive Motion to Dismiss in Connection with Bernie Madoff Ponzi Scheme

On March 14, 2024, the U.S. District Court for the Southern District of New York denied a motion by Citibank, N.A. for leave to file an interlocutory appeal of a bankruptcy court’s order denying a motion to dismiss fraudulent…more

Bankruptcy Court, Commercial Bankruptcy, Fraudulent Transfers, Interlocutory Appeals, Motion to Dismiss

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Robert Beard

IRS Rules that Oil and Gas Infrastructure Assets Yield Good REIT Income

On February 15, 2019, the Internal Revenue Service (the “IRS”) released PLR 201907001 (the “Ruling”), a private letter ruling addressing whether certain income related to the leasing of an oil and gas platform, selling of…more

Capital Assets, Corporate Counsel, Equipment Lease, Internal Revenue Code (IRC), IRS

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Susanna Beard

Quick Cash – FCA and Pre-emption Group Announce a Series of Temporary Recommendations to Assist Companies in Raising Capital During COVID-19 Crisis / ‘Cash Box’ Placings

Yesterday, 8 April 2020, the Financial Conduct Authority (FCA) announced a series of measures in response to the coronavirus crisis designed to help issuers raise new capital while retaining an appropriate degree of investor…more

Banking Sector, EU, European Securities and Markets Authority (ESMA), Financial Conduct Authority (FCA), Financial Services Industry

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Jasmine Becerra

CMS Issues Revised Staff Vaccination Guidance

On October 26, 2022, CMS issued revised guidance on COVID-19 vaccination requirements for staff working for Medicare-certified and Medicaid-certified providers and suppliers. While the revised guidance was issued in separate…more

Ambulatory Surgery Centers, Centers for Disease Control and Prevention (CDC), Centers for Medicare & Medicaid Services (CMS), Coronavirus/COVID-19, Guidance Update

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Antoinette Bedros

Trade & Manufacturing - November 2019

China And The United States Reportedly Nearing A Deal On Trade Agreement United States - The United States and China are nearing the conclusion of negotiations for a limited trade agreement, which reportedly could be signed…more

Anti-Dumping Duty, China, India, Steel Industry, Tariffs

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Zev Beeber

The Ethereum Merge: Key Takeaways and Potential Regulatory Impact

The Merge is complete. A massive and long-anticipated software update to the Ethereum blockchain, the Merge went into effect on Thursday, September 15. Its implications are far reaching. The Ethereum blockchain is a pillar of…more

Bitcoin, Blockchain, CFTC, Cryptocurrency, Digital Assets

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Jessica Beess und Chrostin

Quantum Quarterly – Issue 11 – 2 Quarter 2019

We are pleased to present the latest edition of Quantum Quarterly, a publication of King & Spalding’s International Arbitration Practice Group. This edition kicks off with an interview with Howard Rosen of Secretariat in…more

Arbitration, Arbitration Awards, Arbitrators, Damages, Energy Sector

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Rambod Behboodi

Energy Newsletter - May 2021

Business and Human Rights: Energy and extractives in a changing landscape of new generation trade agreements protecting and promoting both trade and human rights - As allegations of genocide, forced labour, or widespread…more

Energy Sector, Enforcement Actions, Environmental Justice, Environmental Protection Agency (EPA), Human Rights

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Catherine Behnke

DOJ Introduces Task Force on Health Care Monopolies and Collusion

On May 9, 2024, the DOJ announced the formation of a new task force on health care monopolies and collusion (the HCMC Task Force) that will “guide the division’s enforcement strategy and policy approach in health care, including…more

Antitrust Investigations, Collusion, Department of Justice (DOJ), Enforcement Actions, Federal Trade Commission (FTC)

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Erik Belenky

2023 M&A Outlook: Recapping Key Takeaways from Dealmaking in 2022 and Navigating New Challenges

Coming off record-setting levels in 2021, M&A deal activity cooled in the second half of 2022. A multitude of factors – including soaring inflation, steadily rising interest rates and the higher cost of financing, geopolitical…more

Acquisitions, Borrowers, Corporate Counsel, Department of Justice (DOJ), Domestic Dealmaking

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Vanessa Benichou

France - A Charter for the Promotion of Medical Devices (Including IVD)

An ordinance (« arrêté ») was published in the French Official Gazette of 8 March 2022 that sets out a quality charter overseeing the professional practices of individuals responsible for the presentation of educational…more

Actors, Beneficiaries, Certifications, Corporate Monitoring, Food and Drug Administration (FDA)

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Kathleen Benner

Updates to EPA’s Risk Management Program Immediately Effective After D.C. Circuit Issues Unexpected Early Mandate

On Friday, August 31, 2018, the U.S. Court of Appeals for the District of Columbia unexpectedly granted a request to issue its mandate expeditiously following its decision regarding the U.S. Environmental Protection Agency’s…more

Environmental Protection Agency (EPA), Regulatory Mandates, Risk Management

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Carson Bennett

Anti-Satellite Tests and the Growing Demand for Space Debris Mitigation

The threat of anti-satellite (ASAT) weapons is once again front and center in the news, raising questions about norms for responsible state behavior in space. ASAT tests are used by countries to destroy or incapacitate…more

Aerospace, EU, Innovative Technology, NASA, Satellites

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Laura Bennett

Recent SEC Enforcement Actions Reinforce the Importance of Effective Supervision, Policies, and Procedures for Broker-Dealers and Investment Advisers

A summer of Securities and Exchange Commission settlements involving registered broker-dealers and investment advisers demonstrates that the SEC remains firmly committed to regulating the conduct of these firms. These…more

Broker-Dealer, Enforcement Actions, Financial Institutions, Investment Adviser, Securities and Exchange Commission (SEC)

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Robert Benson Jr.

The Insider: Key Developments for Chief Legal Officers and Corporate Legal Teams

Welcome to the inaugural issue of The Insider. This new publication from King & Spalding’s Public Companies Practice, which will be produced periodically, is focused on key developments for chief legal officers and their…more

Attorney-Client Privilege, D&O Insurance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Duty to Monitor

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Peter Berg

Environmental Justice and Civil Rights in U.S. Construction Projects

Since taking office two years ago, the Biden Administration has emphasized efforts to incorporate environmental justice considerations into federal agency permitting, funding and financial support decision-making. Environmental…more

Civil Rights Act, Construction Project, Department of Environmental Quality, Environmental Justice, Environmental Protection Agency (EPA)

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James Berger

U.S. Supreme Court Will Rule on Whether Section 1782 Discovery is Available for Use in Private Foreign Commercial Arbitrations

In a highly anticipated decision, the U.S. Supreme Court has granted certiorari in Servotronics, Inc. v. Rolls-Royce PLC, et al. and agreed to address the question of whether federal courts may authorize discovery pursuant to 28…more

Certiorari, Commercial Arbitration, Discovery, Federal Arbitration Act, International Arbitration

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Katy Berger

Rule 192

On January 25, 2023, the Securities and Exchange Commission (“SEC”) issued a release reproposing new Rule 192 (the “Proposed Rule”) under the Securities Act of 1933 (the “Securities Act”), which is intended to prevent the sale…more

Asset-Backed Securities, Conflicts of Interest, Dodd-Frank, Liquidity, Proposed Rules

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Amelie Bernardi

Zeitlich befristete Änderung der Insolvenzantragspflicht wegen Überschuldung

Erneute Lockerung der Insolvenzantragspflicht durch das SanInsKG - Mit dem „Gesetz zur vorübergehenden Anpassung sanierungs- und insolvenzrechtlicher Vorschriften zur Abmilderung von Krisenfolgen“ (kurz: Sanierungs- und…more

Coronavirus/COVID-19, Insolvency, Liability, Reorganizations, Restructuring

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Susan Berry

Lender Can Continue Policy of Eligibility Requirements for Small Business Loans

On April 13, 2020, the United States District Court for the District of Maryland (the “Court”) sided with Bank of America (“BofA”) by denying a request for a temporary restraining order (“TRO”) and preliminary injunction sought…more

Bank of America, Class Action, Discriminatory Lending Practices, Maryland, Paycheck Protection Program (PPP)

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Amelie Berz

German Art Copyright Act Applies Even With GDPR In Effect

On June 18, 2018, the Cologne Court of Appeal decided that provisions of the German Act on the Protection of Copyright in Works of Art and Photographs (“KUG”) regarding the publication of photos for journalistic reporting will…more

Cease and Desist, Copyright, General Data Protection Regulation (GDPR), Germany

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Paul Bessette

Dismissal of Securities Claims Against Utah Biotech Company Provides Guidance in Securities Cases Involving Food & Drug Administration Form 483 Inspections

A district court in Utah recently dismissed claims brought against a biotechnology company and its officers under Section 10(b) of the Securities Exchange Act and Rule 10b-5 adopted thereunder. The order in Richfield v…more

Biotechnology, Dismissals, Food and Drug Administration (FDA), Investigational New Drug Application (IND), License Applications

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Soumya Bhagavatula

US Dollar Term SOFR is Here – Why is This Different and How Does it Affect My Loan?

On July 29th, 2021, the Alternative Rates Reference Committee (the “ARRC”) formally recommended the adoption of CME Group’s forward-looking Secured Overnight Financing Rate (“SOFR”) term rates. According to the ARRC, this…more

Alternative Reference Rates Committee (ARRC), Borrowing Statutes, Financial Conduct Authority (FCA), Lending, Libor

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Kabir Bhalla

English High Court Rules That Compliance With Pre-Arbitration Negotiation Periods Incapable of Challenge on Jurisdictional Grounds

Republic of Sierra Leone v SL Mining - The English High Court (Sir Michael Burton GBE) has handed down a significant judgment dismissing a challenge to a Tribunal’s jurisdiction under section 67 of the Arbitration Act 1996 -…more

International Arbitration, International Chamber of Commerce (ICC), Jurisdiction, Mining, Sierra Leone

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Shouvik Bhattacharya

India to Promote Mining of Lithium and Five Other Critical Minerals

On 2 August 2023, India’s Parliament passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2023 (“Amendment Bill”) to amend the Mines and Minerals (Development and Regulation) Act, 1957 (“Act”). The Act…more

Atomic Energy, India, Mineral Exploration, Mineral Leases, Minerals

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Matthew Biben

FinCEN Issues Final Rule Expanding Anti-Money Laundering/ Countering the Financing of Terrorism Requirements for Investment Advisers

On September 4, 2024, the Financial Crimes Enforcement Network (“FinCEN”), U.S. Department of Treasury, published a final rule (the “Final Rule”) expanding the definition of “financial institution” under the Bank Secrecy Act…more

AML/CFT, Anti-Money Laundering, Anti-Terrorism Financing, Asset Management, Bank Secrecy Act

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Rasha El Mouatassim Bih

Bankruptcy Court Finds Lender’s Fee Application, Seeking Double the Debtor’s Fees, Reasonable

On January 3, 2024, the U.S. Bankruptcy Court for the Western District of Texas issued an order approving, in substantial part, a contested fee application submitted by 100 E. 7th Street Lender LLC, an oversecured lender to…more

Applications, Bankruptcy Code, Bankruptcy Court, Compliance, Debtors

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Michael Biles

Dismissal of Securities Claims Against Utah Biotech Company Provides Guidance in Securities Cases Involving Food & Drug Administration Form 483 Inspections

A district court in Utah recently dismissed claims brought against a biotechnology company and its officers under Section 10(b) of the Securities Exchange Act and Rule 10b-5 adopted thereunder. The order in Richfield v…more

Biotechnology, Dismissals, Food and Drug Administration (FDA), Investigational New Drug Application (IND), License Applications

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Nate Bilhartz

Energy Newsletter - June 2020

The Impact of COVID-19 on Nuclear Electricity Sales Contracts in France - The electricity sector, like numerous others in France, has been heavily affected by the economic shutdown due to the COVID-19 pandemic. The first…more

Administrative Hearings, Amended Rules, CARB, Climate Change, Commercial Bankruptcy

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Nicole Bittlingmayer

BGH erklärt sog. Schriftformheilungsklauseln in Gewerberaummietverträgen für unwirksam

Der für das Gewerberaummietrecht zuständige 12. Zivilsenat des Bundesgerichtshofs („BGH“) hat am 27.09.2017 mit einem Paukenschlag die hier beigefügte Entscheidung verkündet, in welchem er zu der seit einigen Jahren kontrovers…more

Commercial Leases, Germany, Tenants

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Stephen Blank

Neiman Marcus and The Fiduciary Duties of Creditors’ Committee Members

Creditors who are members of an official committee of unsecured creditors in a bankruptcy owe fiduciary duties to other unsecured creditors and to other committee members. In this article on the Neiman Marcus bankruptcy, the…more

Chapter 11, Committee Members, Creditors, Fiduciary Duty, Fraud

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Matthew Blaschke

COVID-19 Return to Work Q&A: Premises Liability Issues

As I open my business to customers, could I be at risk of customer and employee lawsuits based on COVID-19? Yes, you could be at risk for personal injury or other tort claims because under the law in most states, a business…more

Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Liability, OSHA, Workplace Safety

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Steven Blau

FinCEN Issues Final Rule Expanding Anti-Money Laundering/ Countering the Financing of Terrorism Requirements for Investment Advisers

On September 4, 2024, the Financial Crimes Enforcement Network (“FinCEN”), U.S. Department of Treasury, published a final rule (the “Final Rule”) expanding the definition of “financial institution” under the Bank Secrecy Act…more

AML/CFT, Anti-Money Laundering, Anti-Terrorism Financing, Asset Management, Bank Secrecy Act

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Alexander Blumberg

Bye-Bye Big Boys? The SEC Turns its Enforcement Focus to Private Deals

On April 4, 2023, the U.S. Securities and Exchange Commission (“SEC”) filed suit against Charlie Javice, the 31-year-old founder of Frank, a student loan and financial aid assistance company. That same day, the U.S. Attorney’s…more

Bank Fraud, Department of Justice (DOJ), Enforcement, Financial Aid, Penalties

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Russell Blythe

False Advertising Claims in the U.S. – Even “Corny” Disputes Are No Laughing Matter

A significant percentage of a company’s total budget may be spent on advertising and promotion. Commercials, social media campaigns, contests, billboards, print ads, and point-of-sale displays all take time to design, develop,…more

Advertising, Anheuser-Busch, Beer, Defense Strategies, False Advertising

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J.C. Boggs

House Passes FIT21 – What does it say, and what does it mean for digital asset providers?

On, May 22, 2024, the U.S. House of Representatives passed H.R. 4763, Financial Innovation for Technology for the 21st Century Act (“FIT21”). The legislation was touted by the House Financial Services Committee’s Chairman,…more

Blockchain, CFTC, Digital Assets, Disclosure Requirements, Enforcement

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Dr. Andreas Boehme

Zukunftsfinanzierung, die Zweite

Im Schneckentempo zur Energiewende - Ende August hat das Bundesministerium der Finanzen einen Referentenentwurf für ein Zweites Gesetz zur Finanzierung von zukunftssichernden Investitionen (ZuFinG II) vorgelegt. Die…more

Capital Investments, Energy Sector, Infrastructure, Investment, Real Estate Investments

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Brian Bohnenkamp

OIG Increases Expectations for Compliance Officers in Its New Compliance Program Guidance – What Compliance Officers at Pharmaceutical and Medical Device Companies Need to Consider

On November 6, 2023, the U.S. Department of Health and Human Services Office of Inspector General (“OIG”) issued its anticipated General Compliance Program Guidance (“GCPG”) for the health care industry. The GCPG serves as a…more

Chief Compliance Officers, Compliance, Corporate Integrity Agreement, Disclosure Requirements, Enforcement

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Christopher Boies

Second Circuit Reverses District Court’s Marblegate Decision; Narrows Protections Provided to Bondholders Under Section 316(b) of Trust Indenture Act

The Trust Indenture Act of 1939 (the “TIA”) codifies a select set of requirements and prohibitions intended to protect perceived “sacred rights” of holders of public bond instruments. When the U.S. District Court for the…more

Bonds, Creditors, Financial Institutions, Section 316(b), Secured Debt

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Keri Borders

Searching for the Reasonable Consumer

Every state prohibits the use of false or misleading advertising on food labeling. In many food false advertising cases, the battleground is whether the “reasonable consumer” would be deceived by the challenged label statement,…more

Appeals, False Statements, Food Labeling, Motion to Dismiss, Omissions

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Sarah Borders

Russia Moves Closer to Nationalizing Businesses Intending to Exit Russia

Since Russia’s invasion of Ukraine, some 300 large international companies have announced intentions to scale back or shut down operations within Russia. On March 7, Russia’s ruling party reacted to the exodus by announcing that…more

Arbitration, Business Closures, Economic Sanctions, Foreign Corporations, Russia

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Amy Boring

Supreme Court Rejects Government's Broad Use of the Aggravated Identity Theft Statute to Impose Two-Year Mandatory Minimum Sentences in Fraud Cases

The aggravated identity theft statute, 18 U.S.C. §1028A, imposes a mandatory two-year sentencing enhancement upon a defendant who “uses” without lawful authority another’s means of identification “during and in relation to” an…more

Appeals, Dubin v United States, En Banc Review, Felonies, Fraud

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Abigail Bortnick

Oversight Subcommittee on the Coronavirus Crisis Continues to Actively Investigate the Previous Administration’s Pandemic Response

When announcing the Democratic members of the Select Subcommittee on the Coronavirus Crisis for the 117th Congress, Chairman Jim Clyburn (D-SC) stated that, “In order to improve our nation’s response, the Select Subcommittee…more

CARES Act, Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Department of Veterans Affairs, Economic Injury Disaster Loans

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Andi Bosshart

Focus on Data Governance in Healthcare: Part One of a Three-part Series on Data Governance, Data Analytics and Artificial Intelligence

Hospital systems, provider groups, and other healthcare organizations are uniquely situated to drive technological innovation in the provision of healthcare services in large part because of the patient and other data to which…more

Artificial Intelligence, Data Breach, Governance Standards, Health Insurance Portability and Accountability Act (HIPAA), Healthcare

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Luke Bosso

FDA Releases Guidance on Testing High-Risk Drug Components for Diethylene Glycol and Ethylene Glycol

On May 10, the U.S. Food and Drug Administration (“FDA”) released a new guidance document Guidance for Industry: Testing of Glycerin, Propylene Glycol, Maltitol Solution, Hydrogenated Starch Hydrolysate, Sorbitol Solution, and…more

Contamination, Federal Food Drug and Cosmetic Act (FFDCA), Food and Drug Administration (FDA), New Guidance, Pharmaceutical Industry

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James Boswell III

Medicare Advantage Payors Have Not Redressed 340B Underpayments

CMS recently published its remedy in response to the Supreme Court’s decision that CMS’s 340B outpatient drug payment policy violated the Medicare statute. Many hospitals that are 340B covered entities will now receive tens of…more

Centers for Medicare & Medicaid Services (CMS), Covered Entities, Final Rules, Hospitals, Medicare Advantage

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James Bowe, Jr.

Guidance on Section 45V Clean Hydrogen Production Tax Credit

The trajectory of the hydrogen sector in the United States hinges on a critical question: what criteria will be used to define the term “clean hydrogen” for tax purposes? As previously outlined in our Field Guide to Clean…more

Clean Air Act, Department of Energy (DOE), Environmental Protection Agency (EPA), EU, Greenhouse Gas Emissions

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Adam Bowling

New OSHA Silica Rule Deadline Is Rapidly Approaching – Are You Ready?

While the Summer of 2018 may seem far away, companies should be preparing now to be ready to meet the significant new requirements of the U.S. Occupational Safety and Health Administration’s (“OSHA”) new rule for respirable…more

New Regulations, OSHA, Silica, Toxic Exposure, Workplace Hazards

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John Bowman

Energy Newsletter - March 2020

Disrupting the Disruptor: How a Prepared and Proactive Owner Can Mitigate the Effects of Coronavirus on Construction Projects - Once a remote health issue in China, the rapidly spreading coronavirus (COVID-19) has become not…more

Construction Project, Coronavirus/COVID-19, Energy Sector, Final Rules, Force Majeure Clause

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Peter Brabant

What’s Trending Across Asia in the Data, Privacy and Security Space?

As we live and work in an increasingly globalized and computerized world, data, privacy and security (DPS) issues will converge across regions. Asia, however, has some of its own unique challenges trending as we discuss below. …more

Cross-Border, Cyber Attacks, Cybersecurity, Data Breach, Data Privacy

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Sharon Bradley

Revised PhRMA Code Provides Stricter Controls on HCP Speaker Programs

The Revised PhRMA Code Takes Effect January 1, 2022 - On August 6, 2021, the Pharmaceutical Research and Manufacturers of America (PhRMA) released highly anticipated revisions to its Code on Interactions with Health Care…more

Compliance, Department of Health and Human Services (HHS), Fraud, Healthcare Workers, New Guidance

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Sheldon Bradshaw

CMS Issues Final Rule Requiring the Disclosure of Drug List Prices in Direct-to-Consumer Television Ads

The Final Rule Requires Manufacturers to Disclose List Prices of Prescription Drugs and Biological Products in Television Advertisements - On May 8, 2019, the U.S. Department of Health and Human Services (HHS or the…more

Administrative Authority, Advertising, Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Direct to Consumer Sales

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Brittany Bratcher

Senators Issue Letter Pressing the Internal Revenue Service for More Transparency Over Nonprofit Community Hospitals

On August 7, 2023, a bipartisan group of four United States Senators issued a letter to the Internal Revenue Service (IRS), requesting information from the IRS on how it scrutinizes tax-exempt community hospitals. The letter…more

IRS, Medical Bills, Non-Profit Hospitals, Nonprofits, Tax Exemptions

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Andrew Brereton

US Dollar Term SOFR is Here – Why is This Different and How Does it Affect My Loan?

On July 29th, 2021, the Alternative Rates Reference Committee (the “ARRC”) formally recommended the adoption of CME Group’s forward-looking Secured Overnight Financing Rate (“SOFR”) term rates. According to the ARRC, this…more

Alternative Reference Rates Committee (ARRC), Borrowing Statutes, Financial Conduct Authority (FCA), Lending, Libor

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Morgan Bridgman

Recent Court Ruling Illustrates The Perils Insurers Face When Sending Boilerplate Coverage Letters To Georgia Policyholders

Federal Court in Georgia Applies Hoover Rule Finding that Insurers Who Sent Denial Letters Waived Right to Assert Other Coverage Defenses Later. Eight years ago in Hoover v. Maxum Indemnity Co., 730 S.E.2d 413 (Ga. 2012),…more

Boilerplate Language, Denial of Insurance Coverage, False Claims Act (FCA), GA Supreme Court, Georgia

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Sara Brinkmann

United States District Court in Florida Holds False Claims Act Qui Tam Provision Unconstitutional

On September 30, 2024, a federal district court in Florida held the qui tam enforcement provision of the False Claims Act (“FCA”), which permits private citizens to pursue actions in the name of and on behalf of the government,…more

Appointments Clause, Article II, False Claims Act (FCA), Federal Rules of Civil Procedure, Florida

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Peg Brivanlou

The Age of Competition - The Supreme Court Decides the First BPCIA Case

In a landmark ruling for the biotech and pharmaceutical industries, a unanimous Supreme Court decided Sandoz Inc. v. Amgen Inc., 582 U.S. ____, Nos. 15-1039, 15-1195 (June 12, 2017), its first biosimilar case governed by the…more

aBLA, Biotechnology, BPCIA, Confidential Information, Opt-Outs

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Alana Broe

United States District Court in Florida Holds False Claims Act Qui Tam Provision Unconstitutional

On September 30, 2024, a federal district court in Florida held the qui tam enforcement provision of the False Claims Act (“FCA”), which permits private citizens to pursue actions in the name of and on behalf of the government,…more

Appointments Clause, Article II, False Claims Act (FCA), Federal Rules of Civil Procedure, Florida

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James Brogan

Potential Remedies for Russia’s Suspension of Foreign Investors’ Intellectual Property Rights

Potential Remedies for Russia’s Suspension of Foreign Investors’ Intellectual Property Rights: International Investment Arbitration - Foreign investors in Russia may have remedies pursuant to international investment treaties…more

Bilateral Investment Treaties, Economic Sanctions, Foreign Investment, Intellectual Property Protection, International Arbitration

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Zoë Bromage

Indonesia Introduces CCS/CCUS Regulation

Indonesia has set an ambitious target to reach net zero emissions by 2060. The deployment of clean energy technologies, such as carbon capture and storage (“CCS”) and carbon capture, utilization and storage (“CCUS”), will play…more

Carbon Capture and Sequestration, Carbon Emissions, Contractors, Energy Sector, Indonesia

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Nicole Bronnimann

Mallory Opinion: Constitutionality Of Jurisdiction By Registration May Be A Mirage

The Supreme Court’s recent opinion in Mallory v. Norfolk Southern Railway Co.. concerned the constitutionality of a Pennsylvania statute providing that registering to do business in the state constitutes a sufficient basis for…more

Commerce Clause, Constitutional Challenges, Due Process, Foreign Corporations, Fourteenth Amendment

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Kate Brown

Supreme Court Stays OSHA Vaccine-or-Test Mandate for Large Businesses

On January 13, 2022, the Supreme Court issued its first rulings related to the Biden Administration’s COVID-19 vaccine mandates. In the case of NFIB v. OSHA, by a vote of 6-3, the Court held that the COVID-19 vaccination and…more

Centers for Medicare & Medicaid Services (CMS), Constitutional Challenges, Coronavirus/COVID-19, Employer Mandates, OSHA

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Kyle Brown

And So It Begins: The First DFS Transition Period Comes to an End August 28

In September 2016, the New York Department of Financial Services (“DFS”) introduced the first draft of its cybersecurity regulation, which is now in a position to lead a new trend in industry-specific cybersecurity regulation…more

Cybersecurity, Department of Financial Services, Incident Response Plans, Risk Assessment

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Mark Brown

Predetermined Change Control Plans (PCCPs) for Medical Devices: FDA Issues Draft Guidance

On August 22, 2024, the U.S. Food and Drug Administration (FDA or Agency) issued a draft guidance entitled, Predetermined Change Control Plans for Medical Devices. The draft guidance describes how FDA plans to implement new…more

510(k) RTA, Applications, Artificial Intelligence, Draft Guidance, Federal Food Drug and Cosmetic Act (FFDCA)

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Rachel Brown

FTC Announces First Enforcement of the Health Breach Notification Rule

On February 1, the Federal Trade Commission (“FTC”) announced its first enforcement action under the Health Breach Notification Rule (“HBNR” or “Rule”) against GoodRx, a direct-to-consumer digital healthcare and prescription…more

Application Programming Interface (APIs), Breach Notification Rule, Data Privacy, Enforcement, Federal Trade Commission (FTC)

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Tyler Brown

U.S. DOE Releases Report on Clean Hydrogen Strategy and Roadmap

The United States recently took another important step in implementing a comprehensive strategy to advance the production, processing, delivery, storage, and use of clean hydrogen. On June 5, 2023, the Biden-Harris…more

Carbon Capture and Sequestration, Carbon Emissions, Clean Energy, Department of Energy (DOE), Energy Projects

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Mitchell Bryant

Mallory Opinion: Constitutionality Of Jurisdiction By Registration May Be A Mirage

The Supreme Court’s recent opinion in Mallory v. Norfolk Southern Railway Co.. concerned the constitutionality of a Pennsylvania statute providing that registering to do business in the state constitutes a sufficient basis for…more

Commerce Clause, Constitutional Challenges, Due Process, Foreign Corporations, Fourteenth Amendment

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Christopher Buchanan

Industry-Focused American Rescue Plan Act Summary – Aviation

On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARP Act) into law, which provides approximately $1.9 trillion in financial assistance to individuals and industries impacted by COVID-19. The ARP…more

American Rescue Plan Act of 2021, Aviation Industry, CARES Act, Consolidated Appropriations Act (CAA), Coronavirus/COVID-19

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Jeffrey Bucholtz

United States District Court in Florida Holds False Claims Act Qui Tam Provision Unconstitutional

On September 30, 2024, a federal district court in Florida held the qui tam enforcement provision of the False Claims Act (“FCA”), which permits private citizens to pursue actions in the name of and on behalf of the government,…more

Appointments Clause, Article II, False Claims Act (FCA), Federal Rules of Civil Procedure, Florida

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Lisa Bugni

Delaware Chancery Court Issues Precedential Decision Dismissing Claims Challenging “De-SPAC” Merger Disclosures

The Delaware Court of Chancery’s recent decision in In re Hennessy Capital Acquisition Corp. IV Stockholder Litigation,1 marks the Chancery Court’s first total dismissal of a complaint alleging breaches of fiduciary duties in…more

Breach of Duty, Class Action, Conflicts of Interest, Corporate Counsel, Dismissals

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Ana Buling

Recent SEC Settlements Reveal a Roadmap for Resolving Investigations of Unregistered Initial Coin Offerings

Since at least July 2017, when the Securities and Exchange Commission (SEC) announced it expected initial coin offerings (ICOs) to either register under U.S. securities laws or qualify for an exemption, crypto-market…more

Corporate Counsel, Cryptocurrency, Financial Services Industry, Initial Coin Offering (ICOs), Popular

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Tim Burbury

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Bobby Burchfield

Viewpoints - Issue 32 - Engaging with Institutional Investors

The dramatic shifts in the investment landscape—from individual to institutional shareholders and from actively managed funds to indices—have put pressure on boards to strengthen governance and oversight practices. On July 19,…more

Institutional Investors, Investors, Proxy Voting Guidelines

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Jennifer Burdman

The Age of Competition - The Supreme Court Decides the First BPCIA Case

In a landmark ruling for the biotech and pharmaceutical industries, a unanimous Supreme Court decided Sandoz Inc. v. Amgen Inc., 582 U.S. ____, Nos. 15-1039, 15-1195 (June 12, 2017), its first biosimilar case governed by the…more

aBLA, Biotechnology, BPCIA, Confidential Information, Opt-Outs

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Terrence Burek

HHS Issues Proposed Rule to Update Anti-Kickback Statute Safe Harbors – What Does it Mean for Life Sciences Companies?

HHS’ Proposals are Designed to Promote Patient Care Coordination, Management, and Efficiencies, and Include Several Points of Interest for Pharmaceutical and Medical Device Manufacturers - In today’s Federal Register, the…more

Anti-Kickback Statute, Centers for Medicare & Medicaid Services (CMS), Comment Period, Cybersecurity, Department of Health and Human Services (HHS)

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Carol Burke

Energy Newsletter - December 2019

Rekindling the Flame: Oil & Gas Securitizations - A number of recent structurings of investment-grade rated securitizations of oil and gas wells are sparking conversations in the U.S. upstream oil and gas industry about this…more

Arbitration, Climate Change, Energy Sector, Green Buildings, International Chamber of Commerce (ICC)

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Marcella Burke

Spotlight: PFAS Remediation and the Infrastructure Act

Signed into law on November 15, 2021, the landmark Infrastructure Investment and Jobs Act allocates $10 billion for the remediation of PFAS in drinking water. In turn, the bill divides the $10 billion into three categories: (1)…more

Clean Water Act, Environmental Protection Agency (EPA), Infrastructure Investment and Jobs Act (IIJA), PFAS, Safe Drinking Water Act

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Konstantin Burkov

Newsflash – What do the UK’s new employment laws mean for Financial Services?

The UK’s new Labour government unveiled a package of new workers’ rights yesterday, with wide-ranging ramifications for employers. Whilst the most significant measures will not be implemented until 2026 at the earliest,…more

Compensation, Diversity and Inclusion Standards (D&I), Employee Rights, Equal Pay, Financial Conduct Authority (FCA)

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Henry Burnett

Mexico Enacts New Legal Regime for Mining Concessions

On May 8, 2023, Mexico enacted an amendment in matters pertaining to mining and water to its mining law; national waters law; general law for ecologic equilibrium and environmental protection (LGEEPA); and general law for the…more

Compensation, Environmental Social & Governance (ESG), Mexico, New Amendments

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Kassi Burns

NIST Releases Series of AI Guidelines & Software in Ongoing Response to AI Executive Order

The U.S. Department of Commerce’s National Institute of Standards and Technology (“NIST”) recently announced the publication of three AI guidelines as well as its release of a software package aimed at helping organizations…more

Artificial Intelligence, Biden Administration, Cybersecurity, Executive Orders, Machine Learning

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Christopher Burris

United States District Court in Florida Holds False Claims Act Qui Tam Provision Unconstitutional

On September 30, 2024, a federal district court in Florida held the qui tam enforcement provision of the False Claims Act (“FCA”), which permits private citizens to pursue actions in the name of and on behalf of the government,…more

Appointments Clause, Article II, False Claims Act (FCA), Federal Rules of Civil Procedure, Florida

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Matthew Bush

Mallory Opinion: Constitutionality Of Jurisdiction By Registration May Be A Mirage

The Supreme Court’s recent opinion in Mallory v. Norfolk Southern Railway Co.. concerned the constitutionality of a Pennsylvania statute providing that registering to do business in the state constitutes a sufficient basis for…more

Commerce Clause, Constitutional Challenges, Due Process, Foreign Corporations, Fourteenth Amendment

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Laura Bushnell

Infrastructure Bill Paves the Way for New Energy Investments and Technology

In November 2021, “[t]he United States House of Representatives passed the Infrastructure Investment and Jobs Act, a once-in-generation bipartisan infrastructure bill that will create millions of jobs, turn the climate crisis…more

Carbon Capture and Sequestration, Climate Action Plan, Climate Change, Department of Energy (DOE), Electric Vehicles

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Randall Butterfield

Inflation Reduction Act of 2022 Doubles Down on Environmental Justice

Today, August 16, 2022, President Biden signed into law the fiercely negotiated and long anticipated Inflation Reduction Act of 2022 (“IRA”). Among other things, the IRA provides a significant boost, including approximately $60…more

Clean Air Act, Climate Change, Department of Environmental Quality, Department of Health and Human Services (HHS), Department of Justice (DOJ)

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Bonnie Byers

USTR Announces Fourth Group of Chinese Products to Be Subject to Additional Tariffs as A Result of Section 301 Investigation; Schedule of Comments and Public Hearing Set

USTR on May 13, 2019 announced that it proposed to impose additional tariffs on products of China with an annual trade of approximately $300 billion pursuant to a Section 301 investigation commenced in August 2017 regarding…more

China, Comment Period, Imports, Public Hearing, Tariffs

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Jeremy Bylund

Loper Bright v. Raimondo

U.S. Supreme Court overrules Chevron and restores courts’ obligation to exercise independent judgment - On June 28, 2024, in one of the last decisions of the Term, the U.S. Supreme Court issued its long-awaited decision in…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Constitutional Challenges, Government Agencies

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Ruth Byrne

Following Finch: Planning Permission for Coal Mine Quashed

In the recent case of Friends of the Earth v Secretary of State for Levelling Up, Housing & Communities & others; South Lakeland Action on Climate Change v Secretary of State for Levelling Up, Housing & Communities & others…more

Carbon Emissions, Climate Change, Coal Mines, Environmental Assessments, Environmental Policies

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Miguel Cadavid

New York Appellate Court Keeps Power Plant Lawsuit Against Lenders Alive

On July 13, 2023, a New York intermediate appellate court held that Iberdrola could continue pursuing all but one of its claims against a bevy of lenders in connection with a construction contract for a power plant in…more

Appellate Courts, Arbitration Awards, Construction Contracts, Lenders, Letter of Credit

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Kimberlee Cagle

NY Department of Financial Services Statement on Climate Change: Implications for the Financial Sector

State regulatory statements and guidelines for climate change readiness are emerging independent of federal government action. As climate change is not just about future impacts, financial institutions are compelled to…more

Business Strategies, Climate Change, Financial Institutions, Fossil Fuel, New Guidance

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Charles Cain

SEC Returns Spotlight to Cybersecurity Disclosure Enforcement

On June 15, the Securities and Exchange Commission announced a settlement with First American Financial Corporation for what the SEC found were inadequate disclosure controls and procedural violations, revealed in connection…more

Broker-Dealer, Cybersecurity, Disclosure Requirements, Enforcement Actions, Investment Adviser

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Rafaela Calcena

H2 2021: Latin America Enforcement Review

To close out 2021, enforcement authorities throughout the Americas continued to investigate fraud, corruption, and other misconduct across the region. For 2022, we expect an uptick of anticorruption investigations as a result…more

Anti-Corruption, Anti-Money Laundering, Biden Administration, Corporate Counsel, Corruption

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William Scott Cameron

OIG Study Finds States Are Not Using Medicaid Payment Suspensions

A recent HHS OIG review of 2014 data on fraud allegations found that significant challenges were limiting the States’ use of payment suspensions, even in the face of what CMS determined were credible allegations of provider…more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Medicaid, OIG

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Sophia Cafoor-Camps

Enhancing Jurisdictional Clarity: Dubai’s New Judicial Authority

On 18 April 2024, the Ruler of Dubai established the “Judicial Authority for Resolving Jurisdictional Conflicts between the DIFC Courts and the Judicial Bodies in the Emirate of Dubai” (New Judicial Authority). This new body,…more

DIFC, Dubai, Dubai International Arbitration Center (DIAC), Jurisdiction, United Arab Emirates (UAE)

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Eva Canaan

Gas Stove Ban Update: Ninth Circuit Says "No" to City of Berkeley Ban on Gas Stoves

The gas stove wars continue to heat up. On April 17, 2023, the United States Court of Appeals for the Ninth Circuit took a stand and ruled that the City of Berkeley does not have the authority to prohibit connecting natural gas…more

Appeals, Consumer Product Safety Commission (CPSC), Department of Energy (DOE), ECPA, Natural Gas

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Alex Canal

EU Council Approves Corporate Sustainability Due Diligence Directive

On 15 March 2024, the European Council approved the Corporate Sustainability Due Diligence Directive (“CSDDD” or “Directive”). If approved by the European Parliament and entered into force, the CSDDD will require large EU and…more

Batteries, Child Labor, Corporate Counsel, Due Diligence, EU

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Jack Capers Jr.

SRS vs. Gilead Sciences: Delaware Chancery Court finding that "indication" means "disease" allows Gilead not to make $50M Milestone Payment

In Shareholder Representative Services (SRS) vs. Gilead Sciences et al., an opinion issued on March 15, 2017, the Chancery Court of the State of Delaware found that the term “indication” means “disease” for purposes of a $50M…more

Gilead Sciences, Merger Agreements, Mergers, Pharmaceutical Industry

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Christine Carletta

Price Negotiation, Medicare Rebates, and Benefit Reform

Key Drug Pricing Implications of the Inflation Reduction Act of 2022 - I. Introduction - On Sunday, August 7, 2022, the United States Senate passed the most consequential drug and biologics pricing legislation in almost…more

Department of Health and Human Services (HHS), Drug Pricing, Healthcare Reform, Medicaid Drug Rebate Program, Medicare

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Craig Carpenito

SEC Adopts Rules Requiring Certain Trading Entities, Including Certain Investment Advisers and Private Funds, to Register as Broker-Dealers

Section 3(a)(5) of the Securities Exchange Act of 1934, as amended (the “Securities Exchange Act”) defines a “dealer” as “any person engaged in the business of buying and selling securities […] for such person’s own account…more

Anti-Avoidance, Broker-Dealer, Investment Adviser, Liquidity, New Rules

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Kayla Carrick

Energy Newsletter - June 2018

Lessons for Sellers in Contracting with Emerging Market Buyers: The “Three R’s” to Structuring Payment Security Provisions - The recent rebound in the international energy industry is being driven, at least in part, by a…more

BSEE, Cloud Computing, Energy Policy, Energy Sector, Exports

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John Daniel Carroll

Congress Restores Application of Federal Antitrust Laws to Health Insurers

On December 23, 2020, the U.S. Senate unanimously passed the Competitive Health Insurance Reform Act of 2020, which includes a provision that would repeal the limited federal antitrust immunity currently granted to certain…more

Appeals, Department of Justice (DOJ), Health Insurance, Healthcare Reform, Insurance Industry

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Arturo Oropeza Casas

Mexico Enacts New Legal Regime for Mining Concessions

On May 8, 2023, Mexico enacted an amendment in matters pertaining to mining and water to its mining law; national waters law; general law for ecologic equilibrium and environmental protection (LGEEPA); and general law for the…more

Compensation, Environmental Social & Governance (ESG), Mexico, New Amendments

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Mandie Cash

Key Recent Developments In Environmental Justice Litigation

Louisiana remains at the forefront of environmental justice activity. In just four days from January 19 to January 23, 2024, two courts in Louisiana offered interpretations to environmental justice efforts in the State of…more

Anti-Discrimination Policies, Appeals, Civil Rights Act, Clean Air Act, Department of Environmental Quality

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Jeffrey Cashdan

Congress Restores Application of Federal Antitrust Laws to Health Insurers

On December 23, 2020, the U.S. Senate unanimously passed the Competitive Health Insurance Reform Act of 2020, which includes a provision that would repeal the limited federal antitrust immunity currently granted to certain…more

Appeals, Department of Justice (DOJ), Health Insurance, Healthcare Reform, Insurance Industry

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Douglass Cassel

EU Council Approves Corporate Sustainability Due Diligence Directive

On 15 March 2024, the European Council approved the Corporate Sustainability Due Diligence Directive (“CSDDD” or “Directive”). If approved by the European Parliament and entered into force, the CSDDD will require large EU and…more

Batteries, Child Labor, Corporate Counsel, Due Diligence, EU

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McKenzie Cato

Predetermined Change Control Plans (PCCPs) for Medical Devices: FDA Issues Draft Guidance

On August 22, 2024, the U.S. Food and Drug Administration (FDA or Agency) issued a draft guidance entitled, Predetermined Change Control Plans for Medical Devices. The draft guidance describes how FDA plans to implement new…more

510(k) RTA, Applications, Artificial Intelligence, Draft Guidance, Federal Food Drug and Cosmetic Act (FFDCA)

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Gina Cavalier

Are Pharma Speaker Programs Facing an Existential Crisis?

Exploring the Implications of HHS-OIG’s Special Fraud Alert and Groundbreaking Novartis CIA Requirements on Compliance Program Policies and Controls that Govern Speaker Programs - A Special Fraud Alert issued by the U.S…more

Anti-Kickback Statute, Corporate Integrity Agreement, Department of Health and Human Services (HHS), Department of Justice (DOJ), Fraud

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Steve Cave

Anti-Satellite Tests and the Growing Demand for Space Debris Mitigation

The threat of anti-satellite (ASAT) weapons is once again front and center in the news, raising questions about norms for responsible state behavior in space. ASAT tests are used by countries to destroy or incapacitate…more

Aerospace, EU, Innovative Technology, NASA, Satellites

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Ginamarie Caya

A New Game In Town: Concepts and Opportunities in Direct-to-Provider Contracts

As employers look for new ways to control healthcare costs and provide innovative healthcare offerings to their employees, employers are starting to consider the “direct-to-provider” contracting model as a way to achieve these…more

Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, Health Insurance, Preemption

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Jonathan Chally

Constitutional Limitations On Emergency Authority

Lessons For The COVID-19 Pandemic Landscape - INTRODUCTION - Over the last two months, there has been a flurry of federal, state, and local government action to stem the spread of COVID-19. These efforts have included a…more

Coronavirus/COVID-19, Due Process, Emergency Powers, Executive Orders, Fifth Amendment

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Dora Chan

Checklist for Non-U.S. Fund Managers Making a Private Fund Offering in the U.S.

The United States represents a large source of potential capitalthat non-U.S. fund managers often find impossible to ignore. To assist non-U.S. fund managers, we have prepared a checklist that sets out key considerations for…more

Accredited Investors, Advertising, Blue Sky Laws, CFTC, Due Diligence

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Drew Chapman

The SEC Is Sending Signals Regarding Advisory Fees and Expenses — Are Investment Advisers Listening?

In recent years, the U.S. Securities and Exchange Commission’s Office of Inspections and Examinations (“OCIE”) has prioritized, in its examinations, the review of the fee billing and expense practices of investment advisers. The…more

Enforcement Actions, Investment Adviser, OCIE, Securities and Exchange Commission (SEC)

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William Charnley

Energy Newsletter - October 2016

Negotiating an In-Project Construction Dispute - Many thorny and competing interests are implicated when an ongoing major construction project experiences an unanticipated event that impacts the project schedule or costs,…more

Construction Contracts, Construction Industry, Construction Project, De Novo Standard of Review, Due Process

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Ayesha Chatterjee

Term SOFR is Open for Business

On July 29th, 2021, the Alternative Reference Rate Committee (“ARRC”) formally recommended the adoption of CME Group’s forward-looking Secured Overnight Financing Rate term rates (“Term SOFR”). This announcement completes the…more

Alternative Reference Rates Committee (ARRC), Banking Sector, Libor, Secured Overnight Funding Rate (SOFR), Securities and Exchange Commission (SEC)

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Danielle Chattin

Supreme Court Poised To Decide What Allegations Make The Grade In University Fee Case, With Broader Implications For ERISA Retirement Plan Fiduciaries

Last month, the U.S. Supreme Court heard argument in an ERISA case that could have sweeping ramifications for retirement plan fiduciaries. The case—Hughes v. Northwestern University—tees up a threshold question that has vexed…more

401k, Class Action, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

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Aurélie Chazottes

France – New Offense of Providing Instruments to Facilitate Tax Fraud

The fight against tax fraud occupies a central place in the French Finance Act for 2024. Among the various proposals is the new Article 1744 of the French tax code, which creates the offense of making instruments available…more

France, Money Laundering, Penalties, Tax Code, Tax Fraud

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Thomas Childs

Paris Court of Appeal Addresses Constitution of Tribunal in OIC Investment Arbitration

On March 23, 2021, the Paris Court of Appeal issued a decision with important ramifications for investors pursuing arbitration under the Agreement for the Promotion, Protection and Guarantee of Investments Among Member States of…more

Appeals, Arbitration, Arbitrators, Foreign Tribunals, International Arbitration

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Keric Chin

Assessing the Value of Intellectual Property Rights in M&A Deals Involving Government Contractors

Intellectual property (“IP”) rights can be one of the most valuable assets of a government contractor. There are several factors potential buyers can use to properly evaluate a government contractor’s IP in mergers and…more

Acquisitions, Bayh-Dole Act, Data Rights, Department of Defense (DOD), Federal Contractors

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Andrew Chinsky

NHTSA to Require Reporting of Crashes Involving SAE Automation Levels 2+

On June 29, 2021, the National Highway Traffic Safety Administration (NHTSA) issued a Standing General Order (SGO) to manufacturers and operators of Automated Driving Systems (ADS) and Level 2 Advanced Driver Assistance Systems…more

Automotive Industry, Confidential Business Information (CBI), Driverless Cars, Good Faith, Hardware

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Kelley Chittenden

Why Complete an Enterprise Risk Assessment

Your Organization’s best defense in an environment of aggressive regulators and litigious plaintiffs’ counsel is the completion of an enterprise risk assessment. Regulators and attorneys general are fining–sometimes hundreds of…more

Cybersecurity, Data Breach, Data Protection, Electronic Protected Health Information (ePHI), Enterprise Risks

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Peter Chow

COVID as a Force Majeure Event - An Interesting and Unexpected Development in Singapore

The Appellate Division of the Singapore High Court recently provided the construction industry with interesting, and somewhat unexpected, guidance regarding COVID as a force majeure event in the context of construction…more

Appeals, Construction Contracts, Construction Industry, Coronavirus/COVID-19, Corporate Counsel

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Alexa Delaney Christianson

Contracting for AI Technologies - Top Five Best Practices

Artificial intelligence (“AI”), including generative AI (“GAI”), has gained significant momentum in recent months due to its potential to transform how organizations create content, automate tasks, and provide personalized…more

Artificial Intelligence, Data Security, Disclosure Requirements, Due Diligence, Intellectual Property Protection

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Trinh Chubbock

Overview of REMIT for LNG Sellers to EU

With a robust demand for gas and a desire to reduce its reliance on Russian gas supplies, Europe is a market hotly pursued by liquefied natural gas (“LNG”) sellers and export project developers alike. Those seeking to sell to…more

Energy Sector, EU, Liquid Natural Gas, Oil & Gas, REMIT

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Yujin Chun

Rural Hospitals and Doctors Get HHS Assistance with New Payment Model

On August 11, 2020, the CMS Innovation Center, the office within HHS with authority to create and test healthcare payment systems, announced a new payment model – the Community Health Access and Rural Transformation (CHART)…more

ACOs, Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Medicaid, Medicare

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Lachlan Eugene Clancy

Indonesia Introduces CCS/CCUS Regulation

Indonesia has set an ambitious target to reach net zero emissions by 2060. The deployment of clean energy technologies, such as carbon capture and storage (“CCS”) and carbon capture, utilization and storage (“CCUS”), will play…more

Carbon Capture and Sequestration, Carbon Emissions, Contractors, Energy Sector, Indonesia

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Susan Clare

NHTSA to Require Reporting of Crashes Involving SAE Automation Levels 2+

On June 29, 2021, the National Highway Traffic Safety Administration (NHTSA) issued a Standing General Order (SGO) to manufacturers and operators of Automated Driving Systems (ADS) and Level 2 Advanced Driver Assistance Systems…more

Automotive Industry, Confidential Business Information (CBI), Driverless Cars, Good Faith, Hardware

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Brittany Clark

No Actual Harm, No Foul: No Standing In Federal Illinois BIPA Case

An Illinois federal court recently remanded a case back to Illinois state court after concluding, sua sponte, that it lacked subject matter jurisdiction over a privacy suit initiated by a class of employees asserting violations…more

Biometric Information Privacy Act, Data Collection, Fingerprints, Sua Sponte, Subject Matter Jurisdiction

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James Clark

Saudi PPPs - Assessing the Impact of the Saudi Privatisation Law

Twelve months have passed since the Private Sector Participation Law (the Privatisation Law) was published in Umm Al-Qura, the Official Gazette of the Kingdom of Saudi Arabia (the Kingdom), with the objectives of increasing…more

Dispute Resolution, Foreign Direct Investment, Investment, Lenders, Payment Systems

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William Clarkson V

U.S. House of Representatives Establishes Select Committee on Strategic Competition with China

On January 10, 2023, the House of Representatives passed H.Res. 11 establishing the Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party (the “Select Committee”). The resolution…more

China, Competition, Foreign Investment, Investigations, Popular

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Luke Clements

Court of Appeal decision in SFO v ENRC: l itigation privilege wins the day (for now)

In an eagerly awaited judgment, the English Court of Appeal has today overturned an earlier decision narrowing the scope of litigation privilege in criminal investigations in the UK. The Court of Appeal ruled that interview…more

Appeals, Criminal Investigations, Internal Investigations, Litigation Privilege, Serious Fraud Office (SFO)

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Almiro Clere

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Nathan Clukey

Anti-Inversion Regulations Held to Violate Administrative Procedure Act

On September 29, 2017, the United States District Court for the Western District of Texas struck down a 2016 temporary regulation designed to limit corporate inversions(the “Rule”). Rule was simultaneously issued as a temporary…more

Administrative Procedure Act, Anti-Inversion Regulations, Arbitrary and Capricious, Corporate Taxes, Foreign Corporations

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Zachary Cochran

SEC Amends Beneficial Ownership Reporting Requirements

On October 10, 2023, the Securities and Exchange Commission (the “Commission”) adopted final rules amending the beneficial ownership reporting requirements established by the Commission under Sections 13(d) and 13(g) of the…more

Beneficial Owner, Deadlines, Equity Securities, Final Rules, Investors

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Andrew Cockroft

NLRB General Counsel Announces Intention to Pursue Expansive Remedies for Non-Compete Agreements and to Target So-Called “Stay or Pay” Agreements

On October 7, 2024, National Labor Relations Board (“NLRB”) General Counsel Jennifer A. Abruzzo issued Memorandum GC 25-01, where she argues for expansive remedies for employers who violate the National Labor Relations Act…more

Breach of Contract, Compensation, Enforcement, New Guidance, NLRA

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Jean Cogill

DOL Expresses Extreme Skepticism About Allowing 401(k) Plan Participants to Invest in Cryptocurrency

On March 10, 2022, the U.S. Department of Labor (the “DOL”) issued Compliance Assistance Release No. 2022-01 (the “Release”) regarding 401(k) plan participant-directed investments in cryptocurrencies. The Release “cautions plan…more

401k, Cryptocurrency, Department of Labor (DOL), Digital Assets, Employee Retirement Income Security Act (ERISA)

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Adrian Cole

DIFC Courts Grant First Ever Anti-Suit Injunction

A clear message to parties that arbitration agreements providing for a DIFC seat must be respected In a landmark decision handed down by His Excellency Justice Shamlan Al Sawalehi in Multiplex Constructions LLC v Elemec…more

Abu Dhabi Global Markets (ADGM), ADGM Arbitration Guidelines, Anti-Suit Injunctions, Arbitration Agreements, DIFC

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Christopher Coleman

Sixth Circuit Holds that Bank Settlement Payment to Resolve Fraudulent Transfer Liability Is Insurable Loss Under Ohio Law and Applicable Insurance Policies

On February 1, 2024, the U.S. Court of Appeals for the Sixth Circuit, in an unpublished opinion, held that a bank’s professional liability insurance includes coverage for a $32 million settlement payment the bank made to settle…more

Banking Sector, Commercial Insurance Policies, Fraud, Fraudulent Transfers, Insurance Industry

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Lena Colin

Considering a Move to Texas? Here’s What You Need to Know About Patent Litigation

California-based tech companies have increasingly been moving their operations to Texas over the last two years, a trend that has only accelerated as remote and hybrid work have become a fact of life. Whether your company has…more

Inter Partes Review (IPR) Proceeding, Judges, Patent Litigation, Patents, Texas

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Erin Collins

U.S. Supreme Court Will Rule on Whether Section 1782 Discovery is Available for Use in Private Foreign Commercial Arbitrations

In a highly anticipated decision, the U.S. Supreme Court has granted certiorari in Servotronics, Inc. v. Rolls-Royce PLC, et al. and agreed to address the question of whether federal courts may authorize discovery pursuant to 28…more

Certiorari, Commercial Arbitration, Discovery, Federal Arbitration Act, International Arbitration

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Doug Comin

DOJ Releases Updated Version of Evaluation of Corporate Compliance Programs Guidelines

On September 23, 2024, DOJ announced updates to its Evaluation of Corporate Compliance Programs guidelines (Guidance). The updates are the latest in a series of updates (including in 2019, 2020, and 2023) since DOJ first…more

Anti-Retaliation Provisions, Artificial Intelligence, Compliance, Corporate Misconduct, Department of Justice (DOJ)

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Lara Compton

CMS Seeks Recommendations On How To Regulate Individual and Small Group Health Insurance Markets

On June 8, 2017, CMS issued a statement announcing a request for information (RFI) seeking recommendations and input from the public “on how to create a more flexible, streamlined approach to the regulatory structure of the…more

Affordable Care Act, Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Health Insurance, Request For Information

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Rory Connor

Trade & Manufacturing - February 2019

Over the Horizon: The rise and fall of nuclear new build in the United Kingdom - September 2016 was supposed to herald the dawn of a new era for the nuclear power industry in the United Kingdom. The UK Government had…more

Chapter 11, Cross-Border Transactions, Energy Projects, Energy Sector, Make-Whole Premium

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Kevin Conway

A Guide to UK Tax on Commercial Real Estate: Non-Residents

1. Introduction - This client alert provides a summary of key UK tax considerations when a nonresident invests into UK commercial real estate. There are a number of holding structures for investment into UK real estate by…more

Commercial Real Estate Market, Diverted Profits Tax, Foreign Tax, Limited Liability Company (LLC), Limited Partnerships

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Peter Cooch

The Brand Memorandum: DOJ Restricts Reliance on Agency Guidance in Civil Enforcement Actions

On January 25, 2018, Associate Attorney General Rachel Brand issued a memorandum significantly restricting Department of Justice (“DOJ” or “the Department”) civil litigating units’ use of executive agency guidance documents in…more

Department of Health and Human Services (HHS), Department of Justice (DOJ), False Claims Act (FCA), OIG

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Robert Cooper

Court Grants Injunction to Pause Handbag Merger

On Thursday, October 24, 2024, a New York federal judge granted the Federal Trade Commission’s request for a preliminary injunction to halt the merger between Tapestry Inc. and Capri Holdings Ltd. The court held that the…more

Acquisitions, Federal Trade Commission (FTC), Mergers, Preliminary Injunctions, Retail Market

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Matthew Corboy

Attorney General of the United States v. Wynn: D.C. Circuit Rules Out Injunctive Relief for Past FARA Violations, Leaving Criminal Prosecution as the Only Remedy

On June 14, 2024, a panel of the U.S. Court of Appeals for the District of Columbia held that the Department of Justice (DOJ) may not seek an injunction to compel retroactive registration under the Foreign Agents Registration…more

Criminal Prosecution, Department of Justice (DOJ), Foreign Agents Registration Act (FARA), Injunctive Relief, National Security

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Chelsea Corey

Wong v. Restoration Robotics: California Appellate Court Upholds Federal Forum Selection Provision for Securities Act Claims

On April 28, 2022, the Court of Appeals of California, First District, upheld a corporate charter provision requiring shareholders to file Securities Act of 1933 (“Securities Act”) lawsuits in federal court. This is the second…more

Anti-Waiver Provisions, Appellate Courts, California, Commerce Clause, Forum Selection

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Wade Coriell

Energy Newsletter - March 2020

Disrupting the Disruptor: How a Prepared and Proactive Owner Can Mitigate the Effects of Coronavirus on Construction Projects - Once a remote health issue in China, the rapidly spreading coronavirus (COVID-19) has become not…more

Construction Project, Coronavirus/COVID-19, Energy Sector, Final Rules, Force Majeure Clause

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Jessica Perry Corley

ESG and Securities Litigation

Recent Trends Show Increased Focus on Allegations of "Greenwashing" Over the past few years, regulators, businesses, and the market in general have become increasingly focused on environmental, social, and governance (“ESG”)…more

Climate Change, Disclosure Requirements, Diversity, Enforcement Actions, Environmental Social & Governance (ESG)

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Charles Correll Jr.

California's New Climate Disclosure Requirements: A Work in Progress

In groundbreaking legislation, California continues to lead the nation in climate change regulation by enacting the bulk of the California Climate Accountability Package – an unprecedented climate disclosure mandate for public…more

California, Climate Action Plan, Climate Change, Disclosure Requirements, Greenhouse Gas Emissions

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Fernando Rodriguez-Cortina

Mexico Enacts New Legal Regime for Mining Concessions

On May 8, 2023, Mexico enacted an amendment in matters pertaining to mining and water to its mining law; national waters law; general law for ecologic equilibrium and environmental protection (LGEEPA); and general law for the…more

Compensation, Environmental Social & Governance (ESG), Mexico, New Amendments

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Simon Cowled

Waste to Energy Project

A few years ago, we reported that a wave of waste to energy (“WTE”) projects were expected in the Middle East. It now appears that the wave is about to break. From Saudi Arabia, to the UAE and to Oman, these planned projects…more

Coronavirus/COVID-19, Energy Sector, Foreign Direct Investment, Foreign Investment, Gulf Cooperation Council (GCC)

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James Cowles

Compensation and Benefits Insights – September 2016 #2

Hardly Water Under the Bridge: NLRB, SEC, OSHA Mount Offensive Against Confidentiality Agreements - A recent New York Times story shed light on complaints by an employee of Bridgewater Associates, a $154 billion hedge fund…more

Confidential Information, Deadlines, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Health and Welfare Plans

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Anne Cox-Johnson

M&A Purchase Price Considerations in the Context of COVID-19

Much like everything else in the world, M&A transactions must adjust in order to account for the impact of COVID-19. Arguably the most important feature in any M&A transaction is the purchase price. Set forth below are several…more

Acquisition Agreements, Buyers, CARES Act, Coronavirus/COVID-19, EBITDA

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Tessa Cranfield

Changes to the Duty to Prevent Sexual Harassment

The Worker Protection (Amendment of Equality Act 2020) Act 2023 comes into force on 26 October 2024, introducing a new legal obligation on UK employers to take ‘reasonable steps’ to prevent sexual harassment at work. In this…more

#MeToo, Employee Training, Employer Liability Issues, Employment Policies, Equality Act

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Drew Crawford

Federal Court Stands By Earlier Decision Holding Financial Institutions To Higher Standard Than Customers When Pursuing Data Breach Claims

On May 1, 2017, an Illinois federal district judge dismissed data breach-related claims brought by financial institutions against a grocer. The court distinguished the case from similar lawsuits aimed at Home Depot and Target…more

Corporate Counsel, Data Breach, Data Security, Financial Institutions, RICO

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George Crawford

Gas Stove Ban Update: Ninth Circuit Says "No" to City of Berkeley Ban on Gas Stoves

The gas stove wars continue to heat up. On April 17, 2023, the United States Court of Appeals for the Ninth Circuit took a stand and ruled that the City of Berkeley does not have the authority to prohibit connecting natural gas…more

Appeals, Consumer Product Safety Commission (CPSC), Department of Energy (DOE), ECPA, Natural Gas

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Julie Crawford

43 Attorneys General Urge Creation Of Database To Combat Synthetic Identity Theft

In a December 10 letter from the National Association of Attorneys General (“NAAG”) to Social Security Administration (“SSA”) Acting Commissioner Nancy Berryhill, the Attorneys General of 43 states urged the SSA to “evaluate and…more

Attorney General, Cybersecurity, Data Breach, Identity Theft, Social Security Administration (SSA)

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Alexander Crenshaw

A Brief Overview of the Federal Rulemaking Process in the United States

Since the enactment of the Inflation Reduction Act of 2022 (the “IRA”) in the United States, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) have issued notices of proposed regulations…more

Administrative Procedure Act, Congressional Review Act, Department of Energy (DOE), Department of Labor (DOL), GAO

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Joel Crespo

Q1 2021: Latin American Enforcement Review

Enforcement authorities throughout the Americas continued investigations of fraud, corruption, and other misconduct across the region. Below are some of the highlights of the last quarter…more

Brazil, Bribery, Corruption, Deferred Prosecution Agreements, Department of Justice (DOJ)

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Daniel Crosby

U.S. International Trade Commission to Investigate Potential Waiver of International Intellectual Property Rights for COVID-19 Diagnostics and Therapeutics

On February 1, 2023, the U.S. International Trade Commission (the “ITC”) initiated an investigation into the impact of intellectual property (“IP”) rights on the production, supply, and availability of diagnostics and…more

Coronavirus/COVID-19, Intellectual Property Protection, International Trade Commission (ITC), Supply Chain, TRIPS Agreement

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Tabitha Crosier

2020 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties. To avoid such…more

Benefit Plan Sponsors, EBSA, Filing Deadlines, Health and Welfare Plans, Retirement Plan

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Ken Culotta

Energy Newsletter - March 2018

Good news at last for the development of offshore wind projects in France - While France had launched in 2011 a very ambitious offshore wind farm development program, aiming to reach 6 GMW of wind turbine installations at…more

Arbitration, Canada, Clean Water Act, Construction Industry, Duty of Care

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Jason Blake Cunningham

Considering a Move to Texas? Here’s What You Need to Know About Patent Litigation

California-based tech companies have increasingly been moving their operations to Texas over the last two years, a trend that has only accelerated as remote and hybrid work have become a fact of life. Whether your company has…more

Inter Partes Review (IPR) Proceeding, Judges, Patent Litigation, Patents, Texas

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Layla D'Monte

COVID-19: Safeguarding the workforce in the UK

The unprecedented spread of the COVID-19, or coronavirus, outbreak around the world has resulted in many organisations in the UK facing continued challenges, raising several key business and legal considerations. One of the most…more

Coronavirus/COVID-19, Duty of Care, General Data Protection Regulation (GDPR), Workplace Safety

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Vivasvat Dadwal

Anti-Satellite Tests and the Growing Demand for Space Debris Mitigation

The threat of anti-satellite (ASAT) weapons is once again front and center in the news, raising questions about norms for responsible state behavior in space. ASAT tests are used by countries to destroy or incapacitate…more

Aerospace, EU, Innovative Technology, NASA, Satellites

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Israel Dahan

Wong v. Restoration Robotics: California Appellate Court Upholds Federal Forum Selection Provision for Securities Act Claims

On April 28, 2022, the Court of Appeals of California, First District, upheld a corporate charter provision requiring shareholders to file Securities Act of 1933 (“Securities Act”) lawsuits in federal court. This is the second…more

Anti-Waiver Provisions, Appellate Courts, California, Commerce Clause, Forum Selection

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Ana Daily

Congress's Crypto Crash Course

With Increased Congressional Scrutiny, Continued Interest From Committees in Both the House and Senate, and a Turf War Between Congress and Key Regulatory Agencies, Digital Assets Continue to Be Under the Regulatory Microscope…more

Blockchain, CFTC, Cryptocurrency, Digital Assets, FinTech

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Brandon Dalling

Hydrogen-Related Provisions of the Inflation Reduction Act of 2022

The Inflation Reduction Act of 2022, passed by the Senate on August 7, 2022, includes a number of provisions projected to result in significant investments in domestic energy production and manufacturing, and reduce carbon…more

Biden Administration, Carbon Capture and Sequestration, Carbon Emissions, Department of Energy (DOE), Department of Labor (DOL)

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Jennifer Daly

FSOC and the Systemic Risk of Nonbank Companies

In a response to the difficulties it experienced in identifying nonbank systemically important entities, the Financial Stability Oversight Council (FSOC) has proposed a new procedure for detecting and dealing with potential…more

Dodd-Frank, Federal Reserve, FSOC, Nonbank Firms, Risk Assessment

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Amina Dammann

EPA Approves Indirect Source Rule to Reduce Emissions from Warehouses in Southern California Air District, Potentially Paving the Way for Other Air Regulators Across the United States to Issue Similar Rules

On September 11, 2024, the U.S. Environmental Protection Agency (“EPA”) approved under the Clean Air Act (“CAA”) an indirect source rule that is intended to reduce emissions associated with warehouses located within the South…more

Airline Deregulation Act, California, Clean Air Act, Enforcement, Environmental Protection Agency (EPA)

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Anne Dana

Recent Proliferation of Pay Disclosure Laws in the United States Presents Opportunities and New Considerations for Employers

Within the past five years, a growing number of states and localities have enacted pay disclosure laws requiring employers to disclose pay rates or salary ranges during the hiring process. To date, California, Colorado,…more

Disclosure Requirements, Employee Benefits, Enforcement, Environmental Social & Governance (ESG), Pay Transparency

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Steven Daniel Zavodnick, Jr.

SEC Staff Addresses Net Performance Presentation Requirements for Single Investments Under Marketing Rule

On January 11, 2023, the SEC Staff published a question-and-answer in its Marketing Compliance FAQs that addresses whether an advertisement that includes gross performance information for a single investment (or group of…more

Compliance, Investment, Private Funds, Securities and Exchange Commission (SEC)

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Martha Daniels

Texas Supreme Court Removes Procedural Gotcha in Lawsuits Against Engineers, Architects, and Other Licensed Professionals

On April 28, 2017, the Texas Supreme Court held that trial courts have discretion whether to dismiss a lawsuit against a licensed professional with or without prejudice when a plaintiff fails to file an expert affidavit…more

Affidavits, Architects, Engineering, Good Cause, TX Supreme Court

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Sumon Dantiki

New Data Center Validated End User Program Creates Pathway to Export Advanced U.S. Technology; Rigorous Review and Vetting Required

Effective October 2, 2024, the U.S. Department of Commerce, Bureau of Industry and Security (BIS), amended the Export Administration Regulations (EAR), 15 C.F.R. Parts 730 – 774, to expand the Validated End User (VEU)…more

Bureau of Industry and Security (BIS), Cybersecurity, Data Centers, ECCNs, Export Administration Regulations (EAR)

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Shaswat Das

Ten-Year Statute of Limitations for Sanctions Violations Update

As discussed in our May 7, 2024 alert, on April 24, 2024, President Biden signed into law a foreign military support package (i.e., H.R. 815), which included a provision doubling the statute of limitations (“SOL”) from five to…more

Civil Monetary Penalty, Cuban Assets Control Regulations (CACR), Department of Labor (DOL), Economic Sanctions, Enforcement

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Alexander Davey

Department of Homeland Security Proposes Rule for Reporting of Cyber Incidents

On April 4, 2024, the Cybersecurity and Infrastructure Security Agency (“CISA”) published for public comment a long-awaited proposed rule to implement the Cyber Incident Reporting for Critical Infrastructure Act of 2022…more

Comment Period, Critical Infrastructure Sectors, Cyber Attacks, Cyber Incident Reporting, Cybersecurity

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Scott Davidson

New York Court Holds That Usury Is Determined by Total Amount of Loan, Not Amount Actually Advanced

On February 1, 2024, a New York trial court held that the amount of a loan, and not the amount actually advanced to the borrower, is the relevant measurement to determine if New York’s criminal usury statute applies. Moreover,…more

Breach of Contract, Loans, New York, Usury

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Mark Davies

CO2 Exports in Asia Pacific: Japan’s Approval of the 2009 Amendment to the London Protocol

In this Alert, we review the impact of the recent acceptance by the Japan Diet of the 2009 Amendment to the London Protocol. Acceptance of the Amendment provides a critical enabler for the export of CO2 from Japan for…more

Carbon Capture and Sequestration, Carbon Emissions, Conservation, Energy Storage, Exports

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Ethan Davis

United States District Court in Florida Holds False Claims Act Qui Tam Provision Unconstitutional

On September 30, 2024, a federal district court in Florida held the qui tam enforcement provision of the False Claims Act (“FCA”), which permits private citizens to pursue actions in the name of and on behalf of the government,…more

Appointments Clause, Article II, False Claims Act (FCA), Federal Rules of Civil Procedure, Florida

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Zachary Davis

New Share Repurchase Rules on Ice Following Fifth Circuit Decision

As a result of a recent decision by the Fifth Circuit Court of Appeals, the SEC’s previously adopted Share Repurchase Disclosure Modernization Rule has been put on hold. While the SEC may appeal the final decision (if and when…more

Administrative Procedure Act, Appeals, Disclosure Requirements, Repurchases, Securities and Exchange Commission (SEC)

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Michael Debesay

BGH erklärt sog. Schriftformheilungsklauseln in Gewerberaummietverträgen für unwirksam

Der für das Gewerberaummietrecht zuständige 12. Zivilsenat des Bundesgerichtshofs („BGH“) hat am 27.09.2017 mit einem Paukenschlag die hier beigefügte Entscheidung verkündet, in welchem er zu der seit einigen Jahren kontrovers…more

Commercial Leases, Germany, Tenants

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Elizabeth Dechant

Enforcing Releases in Bankruptcy

Bankruptcy Court Determines Standard for Enforcing Non-Consensual Third-Party Releases in a Chapter 15 Case Differs From Applicable Standard in Chapter 11 Cases - On April 9, 2018, in In re Avanti Communcs. Group Plc, Case…more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 15

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Robert Dedman

Broker-Dealer Research: MiFID-Related "Hard Dollar" SEC Investment Adviser Status Relief to End in July 2023

The EU Markets in Financial Instruments Directive II (“MiFID II”), which came into effect on January 3, 2018, raised concerns that U.S. broker-dealers that would receive “hard dollars” for research from firms subject to MiFID II…more

Broker-Dealer, Compensation, EU, Exclusions, Investment Adviser

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Amy Dehnel

The New, #MeToo World: How to Protect Your Company, and Your Officers and Directors, Against Losses Arising From Claims of Sexual Misconduct and Other Workplace Harassment

With the viral #MeToo movement spreading across the country in the last several months, new, high-profile claims of sexual harassment and other workplace sexual misconduct seem to be reported on almost a daily basis. Stories…more

#MeToo, Commercial General Liability Policies, Corporate Counsel, D&O Insurance, Employer Liability Issues

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Jennifer DePalma

OCC Requests Advice on the Nature of the Digital

The Office of the Comptroller of the Currency (OCC) released an Advance Notice of Proposed Rulemaking (ANPR) on June 4, 2020, announcing a review of 12 CFR part 7, subpart E related to national bank electronic activities and…more

Banking Sector, Financial Services Industry, OCC, Software, Third-Party

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Simon Dereix

Freedom of Expression in the Workplace in Europe – The Example of France

Among the many fundamental rights protected by the European Convention on Human Rights – the European analog to the United States’ Bill of Rights – lies the freedom of speech. Article 10 of the European Convention states that…more

Compensation, Dismissals, EU, European Convention on Human Rights, France

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Mirella deRose

Regulation Best Interest: Updates and Developments

It’s been nearly five months since the Securities and Exchange Commission (“SEC”) approved Regulation Best Interest: The Broker-Dealer Standard of Conduct (“Reg BI”). As discussed in our June 27, 2019 Client Alert, Reg BI…more

Broker-Dealer, Fiduciary Duty, Financial Industry Regulatory Authority (FINRA), Form CRS, Investment Adviser

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Kate Desai

HHS Continues Focus on Women's Health: AHRQ Calls for Data on Telehealth for Women

The Department of Health and Human Services (“HHS”) is continuing its focus on women’s health, this time through its research arm, the Agency for Healthcare Research and Quality (“AHRQ”). If the COVID-19 pandemic has shown us…more

AHRQ, Coronavirus/COVID-19, Department of Health and Human Services (HHS), Department of Labor (DOL), Exclusionary Clauses

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Kelsey Desloover

Energy Newsletter - June 2018

Lessons for Sellers in Contracting with Emerging Market Buyers: The “Three R’s” to Structuring Payment Security Provisions - The recent rebound in the international energy industry is being driven, at least in part, by a…more

BSEE, Cloud Computing, Energy Policy, Energy Sector, Exports

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Stephen Devereaux

Gas Stove Ban Update: Ninth Circuit Says "No" to City of Berkeley Ban on Gas Stoves

The gas stove wars continue to heat up. On April 17, 2023, the United States Court of Appeals for the Ninth Circuit took a stand and ruled that the City of Berkeley does not have the authority to prohibit connecting natural gas…more

Appeals, Consumer Product Safety Commission (CPSC), Department of Energy (DOE), ECPA, Natural Gas

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Kalle Deyette

OIG Increases Expectations for Compliance Officers in Its New Compliance Program Guidance – What Compliance Officers at Pharmaceutical and Medical Device Companies Need to Consider

On November 6, 2023, the U.S. Department of Health and Human Services Office of Inspector General (“OIG”) issued its anticipated General Compliance Program Guidance (“GCPG”) for the health care industry. The GCPG serves as a…more

Chief Compliance Officers, Compliance, Corporate Integrity Agreement, Disclosure Requirements, Enforcement

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Alan Dial

Local Activists File Sweeping Environmental Justice Lawsuit against St. James Parish, Louisiana

On March 21, 2023, activists in St. James Parish, Louisiana filed an environmental justice lawsuit against their local government, claiming that the Parish’s land use system directed industry into primarily Black communities and…more

Activist, Environmental Justice, Fourteenth Amendment, Injunctive Relief, Shareholders

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Evan Diamond

Update on the Proposed TRIPS Waiver at the WTO: Where is it Headed, and What to Expect?

On June 8-9, 2021, the World Trade Organization’s (WTO) TRIPS Council will hold their first meeting in the wake of the U.S. Trade Representative (USTR) announcing “the Biden-Harris Administration’s support for waiving…more

Bilateral Investment Treaties, Copyright, Coronavirus/COVID-19, Industrial Design, Intellectual Property Protection

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Marie-Sophie Dibling

The EU Regulation on Foreign Subsidies is published – What does it target and what does it involve for companies?

On 23 December 2022, the new EU Foreign Subsidies Regulation (“FSR”)1 was published in the Official Journal of the EU. The FSR aims at tackling the distortions to the EU internal market caused by subsidies granted by non-EU…more

Disclosure Requirements, EU, European Commission, Foreign Subsidies, New Regulations

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Kevin Dinan

Tax Court Holds that IRS Cancellation of Advance Pricing Agreement was Abuse of Discretion

On July 26, 2017, the Tax Court issued its opinion in Eaton Corp. v. Commissioner, holding that the IRS’s cancellation of two advance pricing agreements (“APAs”) reached with Eaton Corporation (“Eaton”) was “arbitrary and…more

Abuse of Discretion, Advance Pricing Agreements, IRS, Tax Court

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Nora Djeraba

Algeria Launches A Call For Tenders For The Long-Awaited “Solar 1,000 MW” Project

After several postponements since it was first announced back in 2020, Algeria finally launched a call for tenders for a 1GW solar project, the so-called “Solar 1,000 MW” Project, on December 23, 2021. SCOPE - The Solar…more

Algeria, Financing, Solar Energy, Special Purpose Vehicles

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Adnan Doha

Impact of COVID-19 on M&A and Private Equity Transactions and Other Considerations

COVID-19 has spread rapidly across the world since it first emerged in late 2019 and has impacted everything from the way we work, to certain aspects of M&A and Private Equity transactions and the way in which they are carried…more

Contract Terms, Coronavirus/COVID-19, Global Dealmaking, Material Adverse Change Clauses (MACs), Material Adverse Effects

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Michael Dohmann

Revised PhRMA Code Provides Stricter Controls on HCP Speaker Programs

The Revised PhRMA Code Takes Effect January 1, 2022 - On August 6, 2021, the Pharmaceutical Research and Manufacturers of America (PhRMA) released highly anticipated revisions to its Code on Interactions with Health Care…more

Compliance, Department of Health and Human Services (HHS), Fraud, Healthcare Workers, New Guidance

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Lauren Donoghue

Trade & Manufacturing - News of Note - March 2017

President Trump’s Trade-Related Nominees Confirmed - Several nominees selected by President Trump for key positions that will participate in the development of U.S. trade policy during his administration have been confirmed…more

Congressional Nominations, International Trade Commission (ITC), Manufacturers, Trump Administration, US Trade Policies

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Brian Donovan

STOLI Policy? Don't Count on the Return of Premiums

Two Recent Decisions Throw Cold Water on Investors’ Ability to Get Their Premiums Back on Policies Deemed Void Ab Initio - In the latter half of 2022, the Seventh Circuit Court of Appeals and the Delaware Supreme Court—two…more

DE Supreme Court, Insurance Rates, Investors, Life Insurance, STOLI

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Daniel Donovan III

Gas Stove Ban Update: Ninth Circuit Says "No" to City of Berkeley Ban on Gas Stoves

The gas stove wars continue to heat up. On April 17, 2023, the United States Court of Appeals for the Ninth Circuit took a stand and ruled that the City of Berkeley does not have the authority to prohibit connecting natural gas…more

Appeals, Consumer Product Safety Commission (CPSC), Department of Energy (DOE), ECPA, Natural Gas

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Shane Dornburg

Term SOFR is Open for Business

On July 29th, 2021, the Alternative Reference Rate Committee (“ARRC”) formally recommended the adoption of CME Group’s forward-looking Secured Overnight Financing Rate term rates (“Term SOFR”). This announcement completes the…more

Alternative Reference Rates Committee (ARRC), Banking Sector, Libor, Secured Overnight Funding Rate (SOFR), Securities and Exchange Commission (SEC)

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Achim Döser

AIFMD II Credit Funds

Loan Origination Funds Have a Lot of Wood to Chop Before Aifmd II Kicks In - Following a review of the AIFMD, the Commission, in a draft amending directive published in 2021, noted that common rules should be laid down to…more

Alternative Investment Fund Managers Directive (AIFMD), Close-Ended Funds, Credit Funds, Disclosure Requirements, Documentation

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Jake Downing

New Expansive Rules for Clawback of Incentive-Based Compensation

Several recent developments with the U.S. Securities and Exchange Commission (“SEC”) come into effect this year, including the new pay-versus-performance proxy disclosure as well as new Rule 10b5-1 rules and related disclosure…more

Clawbacks, Disclosure Requirements, Form 10-K, Incentive Compensation, Indemnification

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Geoffrey Drake

NHTSA to Require Reporting of Crashes Involving SAE Automation Levels 2+

On June 29, 2021, the National Highway Traffic Safety Administration (NHTSA) issued a Standing General Order (SGO) to manufacturers and operators of Automated Driving Systems (ADS) and Level 2 Advanced Driver Assistance Systems…more

Automotive Industry, Confidential Business Information (CBI), Driverless Cars, Good Faith, Hardware

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Katherine Dugat

Lender Can Continue Policy of Eligibility Requirements for Small Business Loans

On April 13, 2020, the United States District Court for the District of Maryland (the “Court”) sided with Bank of America (“BofA”) by denying a request for a temporary restraining order (“TRO”) and preliminary injunction sought…more

Bank of America, Class Action, Discriminatory Lending Practices, Maryland, Paycheck Protection Program (PPP)

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Elodie Dulac

Africa Bulletin - September 2019

INTRODUCTION - It has been a busy few months for private equity activity in Africa. Statistics and transactions have illustrated a growing appetite for investment in the continent and, crucially, growing confidence and…more

Africa, Anti-Corruption, Economic Development, Financial Markets, Foreign Investment

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Sawyer Duncan

Energy Newsletter - September 2020

Climate Change Litigation on the Horizon with Trump Environmental Overhaul - On July 16, 2020, President Trump’s Council on Environmental Quality (“CEQ”) published the long-awaited final rule revising the implementing…more

CEQ, CFIUS, Climate Change, Coronavirus/COVID-19, Debt Restructuring

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Adriana Dunn

Court Grants Injunction to Pause Handbag Merger

On Thursday, October 24, 2024, a New York federal judge granted the Federal Trade Commission’s request for a preliminary injunction to halt the merger between Tapestry Inc. and Capri Holdings Ltd. The court held that the…more

Acquisitions, Federal Trade Commission (FTC), Mergers, Preliminary Injunctions, Retail Market

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Kristyn Dunn

M&A, Real Estate and Other Transactions

While sophisticated transaction parties have been aware for some time of the need to evaluate potential liabilities associated with PFAS compounds, EPA’s proposal to designate PFOS and PFOA as hazardous substances under CERCLA…more

Acquisitions, CERCLA, Environmental Protection Agency (EPA), Environmental Site Assessment, Liability

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Nicolas Duque Franco

Searching for the Reasonable Consumer

Every state prohibits the use of false or misleading advertising on food labeling. In many food false advertising cases, the battleground is whether the “reasonable consumer” would be deceived by the challenged label statement,…more

Appeals, False Statements, Food Labeling, Motion to Dismiss, Omissions

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Jeffrey Dutson

The Seventh Circuit Upholds District Court’s Decision That Safe Harbor Provision of Section 546(e) Applies to Privately Held Securities

A recent ruling from the United States Court of Appeals for the Seventh Circuit provides additional comfort for lenders receiving full repayment in connection with leveraged acquisitions. The U.S. Bankruptcy Code gives…more

Appeals, Bankruptcy Code, Bankruptcy Trustees, Chapter 7, Commercial Bankruptcy

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Vanessa Alarcon Duvanel

Switzerland’s pro arbitration and pro investors approach: An arbitration agreement binds the new State in case of secession

In a world where country borders can be unstable and we increasingly witness aspirations to split or annex territory, foreign direct investment faces a growing risk. In a recent dispute, the Swiss Supreme Court (“SSC”) affirmed…more

Arbitration, Arbitration Agreements, Enforcement, Foreign Direct Investment, International Chamber of Commerce (ICC)

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Lisa Dwyer

Predetermined Change Control Plans (PCCPs) for Medical Devices: FDA Issues Draft Guidance

On August 22, 2024, the U.S. Food and Drug Administration (FDA or Agency) issued a draft guidance entitled, Predetermined Change Control Plans for Medical Devices. The draft guidance describes how FDA plans to implement new…more

510(k) RTA, Applications, Artificial Intelligence, Draft Guidance, Federal Food Drug and Cosmetic Act (FFDCA)

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Jamie Dycus

CFPB's New Small Business Data Collection Rule

A recent rule (12 CFR Part 1002, the “Rule”) issued in final form by the Consumer Financial Protection Bureau (the “CFPB”) earlier this year imposes a host of data collection and reporting obligations on lenders to small…more

Compliance, Consumer Financial Protection Bureau (CFPB), Consumer Protection Act, Data Collection, Dodd-Frank

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K. Tyler Dysart

FTC Expands Required Merger Disclosures

FTC Expands Required Merger Disclosures Federal agencies are asking parties to open the hood of their pre-merger transactions a little wider. On Thursday, the FTC voted unanimously to adopt a final rule seeking to reign in an…more

Antitrust Provisions, Disclosure Requirements, Federal Trade Commission (FTC), Final Rules, Hart-Scott-Rodino Act

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Egishe Dzhazoyan

8 Key Business Takeaways From Russia’s War

Economic ripples of Russia’s invasion of Ukraine will permeate the financial, energy, retail, and agricultural sectors, among others. (A link to a related King & Spalding webinar is located here.) While the full effects of the…more

Bilateral Investment Treaties, China, Economic Sanctions, Foreign Assets, Imports

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Scott Dziengelski

Bipartisan Senators Seek Stakeholder Input to Draft Legislation to Address Health Care Workforce Shortage

On February 16, 2023, the Senate Health, Education, Labor, and Pensions (HELP) Committee held a hearing concerning the current health care workforce shortage. On March 2, 2023, Chairman Sanders and Ranking Member Cassidy of the…more

Comment Period, Healthcare, HELP, Labor Shortage, Legislative Agendas

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Alexis Early

Executive Order Establishes New Outbound Investment Screening Program

Prohibitions targeted to prevent China’s exploitation of dual-use technology - On August 9, 2023, President Biden signed a historic Executive Order on Addressing United States Investments in Certain National Security…more

Advanced Notice of Proposed Rulemaking (ANPRM), CFIUS, China, Compliance, Covered Transactions

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Erin East

AseraCare Saga Illustrates the Importance of Internal Compliance

On September 9, 2019, the Eleventh Circuit issued a highly anticipated opinion addressing the critical question of when Medicare claims for reimbursement (in this case, claims for hospice care) can be considered “false” under…more

Enforcement Actions, Expert Witness, False Billing, False Claims Act (FCA), Hospice

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Shareena Edmonds

Mandatory human rights due diligence – what does it mean for companies in the international construction sector?

A new wave of mandatory human rights due diligence legislation is coming into force across Europe. It goes far beyond existing reporting obligations, such as under the UK or Australia’s Modern Slavery Acts, and will require…more

Australia, Construction Contracts, Due Diligence, EU, FIDIC Contracts

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Scott Edson

Florida Adopts Apex Doctrine

State High Court Provides New Avenue for Opposing Depositions of High-Level Corporate Officials - The Florida Supreme Court adopted new Rule of Civil Procedure 1.280(h) adopting the “apex” doctrine in the corporate context. …more

Apex Doctrine, Depositions, FL Supreme Court, Florida

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Donna Edwards

Hertz Seeks Claw-Backs from Former Executives

Earlier this year, Hertz Corporation filed suit against several former executives, including its former CEO, CFO and general counsel, seeking to recover under its claw-back policies approximately $70 million in incentive…more

Advancement, Articles of Incorporation, Breach of Contract, Bylaws, CEOs

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Luke Edwards

The Right to Disconnect: A Comparative Analysis

The line between ‘work’ and ‘home’ has historically been clear for most employees – separated by a distinct office building, worksite, or retail space. Technology has blurred this line in the past few decades and, for some…more

Employment Policies, Fair Work Act, Fair Work Commission, Noncompliance, Off-Duty Employee Access

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Robert Ehrlich Jr.

President Signs Bipartisan Law Revising Dodd-Frank and Providing Regulatory Relief to U.S. Financial Institutions

On May 24, 2018, President Donald Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act(the “Act”). This new law rolls back certain provisions of the Dodd-Frank Act of 2010 (“Dodd-Frank”),…more

Dodd-Frank, Economic Growth Regulatory Relief and Consumer Protection Act, Financial Institutions

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Martin Eid

Pre-Marketing: Risks and Considerations Relating to Bespoke Securitization Transactions

The current volatility in financial markets has caused an increase in interest in pre-marketing certain bespoke securitization transactions, including esoteric, real estate-based, whole business, music royalty and digital…more

Appraisal, Due Diligence, Financial Markets, Indemnification, Investors

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Amy Eikel

Energy Newsletter - May 2020

Energy Explosion: 10 Trends to Watch in Energy Restructuring - On April 20, 2020, U.S. benchmark crude traded negative for the first time. This drastic drop in price was caused by the perfect storm of the Saudi Arabia-Russia…more

Carbon Off-Set Credits, Coronavirus/COVID-19, Energy Sector, Foreign Investment, Mexico

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Joseph Eisert

Key Recent Developments In Environmental Justice Litigation

Louisiana remains at the forefront of environmental justice activity. In just four days from January 19 to January 23, 2024, two courts in Louisiana offered interpretations to environmental justice efforts in the State of…more

Anti-Discrimination Policies, Appeals, Civil Rights Act, Clean Air Act, Department of Environmental Quality

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Valerie Eliasen

Fifth Circuit Determines that Raymond James Is Subject to Bankruptcy Trust Litigation and Affirmative Defenses Are Not Available

Louisiana Pellets, Inc. and German Pellets Louisiana, LLC filed for Chapter 11 bankruptcy in 2016. The bankruptcy court confirmed the debtors’ plan in 2017, which established a liquidating trust for the debtors’ remaining assets…more

Affirmative Defenses, Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy

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Douglas Elsbeck

Fifth Circuit Vacates Private Fund Adviser Rules

On Wednesday, the U.S. Court of Appeals for the Fifth Circuit (the “court”) held that the Securities and Exchange Commission (“Commission”) exceeded its statutory authority when it adopted the Private Fund Adviser Rules (“PFAR”)…more

Certiorari, En Banc Review, Investment Adviser, Judicial Review, Pending Litigation

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Anush Emelianova

DoD Releases Version 1.0 of the Cybersecurity Maturity Model Certification Framework

On January 31, 2020, the Department of Defense (DoD) released the latest version (Version 1.0) of its Cybersecurity Maturity Model Certification (CMMC) framework, setting forth future cybersecurity requirements for thousands of…more

Certification Requirements, Controlled Unclassified Information (CUI), Cybersecurity, Cybersecurity Maturity Model Certification (CMMC), Defense Contracts

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Ben Emmerson, QC

Mandatory human rights due diligence – what does it mean for companies in the international construction sector?

A new wave of mandatory human rights due diligence legislation is coming into force across Europe. It goes far beyond existing reporting obligations, such as under the UK or Australia’s Modern Slavery Acts, and will require…more

Australia, Construction Contracts, Due Diligence, EU, FIDIC Contracts

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Charles Engel III

Energy Newsletter - April 2017

Navigating Private Equity Fund Limitations for Energy Infrastructure-Focused Investments - Energy infrastructure funds have emerged as a class of funds that offer investors the potential for long-term stable returns, as well…more

Argentina, Bankruptcy Court, Energy Sector, Infrastructure, Keystone XL Pipeline

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Jessica England

Energy Newsletter - September 2018

A Texas Federal Judge Turns Up the Heat on Oil Companies Facing Climate Change-Related Securities Class Actions - On August 14, 2018, the United States District Court for the Northern District of Texas issued a surprisingly…more

Abu Dhabi Global Markets (ADGM), Climate Change, Environmental Protection Agency (EPA), EU, Exxon Mobil

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Evan Claire Ennis

Managing Securities Litigation Risks in a Time of Coronavirus Insecurities

Spiraling fears over the coronavirus and the multiplication of virus outbreaks across the globe have impacted the worldwide economy, threatened supply chains, and caused severe stock market declines and disruptions in the U.S…more

Coronavirus/COVID-19, Disclosure Requirements, Infectious Diseases, MD&A Statements, PSLRA

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Ani Esenyan

U.S. DOE Releases Report on Clean Hydrogen Strategy and Roadmap

The United States recently took another important step in implementing a comprehensive strategy to advance the production, processing, delivery, storage, and use of clean hydrogen. On June 5, 2023, the Biden-Harris…more

Carbon Capture and Sequestration, Carbon Emissions, Clean Energy, Department of Energy (DOE), Energy Projects

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Jackson Eskay

New York Bankruptcy Court Grants Loan Buyer's Motion for Full Recovery of $5 Million Supersedeas Appeal Bond

On June 12, 2024, the U.S. Bankruptcy Court for the Southern District of New York granted a loan buyer’s motion to recover against a supersedeas appeal bond, finding that, as result of the appeal, the loan buyer suffered damages…more

Appeals, Bankruptcy Court, Bonds, Chapter 11, Commercial Bankruptcy

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Austin Evans

Florida Enacts Transformative Tort Reform Legislation

On Friday, March 24, 2023, Governor Ron DeSantis signed into law House Bill 837, providing an overhaul to tort law in the state of Florida. The new legislation makes transformative changes, including reducing the statute of…more

Attorney-Client Privilege, Bad Faith, Disclosure Requirements, Florida, Liability

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John Ewald

Litigation

From a litigation perspective, designating PFOA and PFOS as CERCLA hazardous substances will have a substantial impact on future litigation. Currently, EPA’s Chemical Data Reporting (CDR) rule under the Toxic Substance Control…more

CERCLA, Chemical Data Reporting, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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Denis Fallon

Energy Newsletter - June 2017

Mineral and Royalty Interest MLPs: An Alternative Exit For PE-Backed Mineral and Royalty Interest Cos. - Oil and gas exploration companies no longer have to go door-to-door, or ranch-to-ranch, to negotiate oil and gas…more

Construction Disputes, Dispute Resolution, Energy Sector, Minerals, Patent Infringement

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Gregory Fantin, Jr.

Federal Judge Vacates Regulation Excluding Section 1115 Days From DSH Formula

On August 15, 2024, the United States District Court for the Northern District of Texas vacated a Medicare regulation excluding from the Medicare DSH payment days attributable to inpatients covered by a section 1115 waiver…more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Medicaid, Medicare, Vacated

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David Farber

Transitional Coverage for Emerging Technologies: CMS’s Latest, But Not Necessarily Greatest, Coverage with Evidence Approach

On August 7, 2024, the Centers for Medicare & Medicaid Services (“CMS” or the “Agency”) issued a final procedural notice (“Notice”) outlining a new Medicare coverage pathway, aimed at achieving timelier and predictable access to…more

AHRQ, Beneficiaries, Centers for Medicare & Medicaid Services (CMS), Food and Drug Administration (FDA), Health Technology

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Zachary Fardon

False Claims Act Considerations Related to the CARES Act's Small Business Administration Loan Program

On March 27, 2020, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act, which authorized $2.2 trillion to, among other things, help companies and individuals mitigate the financial repercussions caused…more

Banks, Business Closures, Business Interruption, CARES Act, Centers for Medicare & Medicaid Services (CMS)

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Yousef Farsakh

Measure - Spring 2018

Welcome to the Spring 2018 issue of measure, King & Spalding’s Middle East periodic newsletter. Following a host of legal developments in the region over recent months, we look at the following in this issue: ..Noting that…more

Capital Markets, Confidential Information, Data Protection, Health Care Providers, Initial Coin Offering (ICOs)

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Matt Feehily

The Senior Managers Regime – should GCs be worried?

In March this year the PRA and the FCA introduced the Senior Managers Regime (‘SMR’) for individuals associated with banks and PRA regulated investment firms (from 2018 the SMR will apply to all UK authorised firms). The regime…more

Banks, Corporate Counsel, Financial Conduct Authority (FCA), Individual Accountability, Investment Firms

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Dan Feldman

Blue Hydrogen and Ammonia: EU’s Rules for Low Carbon Fuels Released for Consultation

On 27 September 2024, the European Commission (“EC”) published draft rules defining “low-carbon hydrogen” and derivative “low-carbon fuels” in the EU (the “Draft Low-Carbon Hydrogen DA”). A public consultation is now open until…more

Carbon Capture and Sequestration, EU, Greenhouse Gas Emissions, Hydrogen Power, Methane

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Scott Ferber

SEC Returns Spotlight to Cybersecurity Disclosure Enforcement

On June 15, the Securities and Exchange Commission announced a settlement with First American Financial Corporation for what the SEC found were inadequate disclosure controls and procedural violations, revealed in connection…more

Broker-Dealer, Cybersecurity, Disclosure Requirements, Enforcement Actions, Investment Adviser

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Zori Ferkin

FERC Proposes to Amend its PURPA Regulations to Recognize Hydrogen Production in Certain Fuel Cell Systems as Useful Thermal Energy in Qualifying Cogeneration Facilities

Hydrogen as a fuel for industrial applications, transportation, distribution and power generation, and for energy storage, is gaining worldwide momentum as a key component in the pursuit of decarbonization. The Federal Energy…more

Federal Register, FERC, Hydrogen Power, Natural Gas, New Regulations

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Isabel Fernandez de la Cuesta

Russia’s Payment of Principal and Interest in Rubles of U.S. Dollar-Denominated Debt May Give Rise to Claims under International Investment Treaties

On April 11, 2022, the EMEA Credit Derivatives Determinations Committee (CDDC) determined that the state-owned Russian Railways is in default on a missed bond payment. Russian Railways tried to make the interest payment due…more

Bilateral Investment Treaties, Bondholders, Bonds, Compliance, EMEA

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Timothy Fesenmyer

The Insider: Key Developments for Chief Legal Officers and Corporate Legal Teams

Welcome to the inaugural issue of The Insider. This new publication from King & Spalding’s Public Companies Practice, which will be produced periodically, is focused on key developments for chief legal officers and their…more

Attorney-Client Privilege, D&O Insurance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Duty to Monitor

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Lucas Fields

Reconsider That Term Sheet: DOJ "Safe Harbor Policy" Announcement Incentivizes Merger-Related Disclosures

On October 4, 2023, the Department of Justice’s (“DOJ”) Deputy Attorney General Lisa Monaco announced a new “Mergers & Acquisitions Safe Harbor Policy” (“M&A Safe Harbor Policy” or “Policy”) for companies that voluntarily…more

Acquisitions, Corporate Misconduct, Department of Justice (DOJ), Disclosure, Disgorgement

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Richard Fields

The Insider: Key Developments for Chief Legal Officers and Corporate Legal Teams

Welcome to the inaugural issue of The Insider. This new publication from King & Spalding’s Public Companies Practice, which will be produced periodically, is focused on key developments for chief legal officers and their…more

Attorney-Client Privilege, D&O Insurance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Duty to Monitor

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Paige Fillingame

Federal District Court Rebukes CMS for Seeking to Remand Case in Which Providers Did Not Protest Unallowable Items on Their Cost Reports

Last week, the United States District Court for the District of Columbia denied CMS’s request to remand to the Provider Reimbursement Review Board (PRRB) the claims of several hospitals who sought expedited judicial review (EJR)…more

Appeals, Centers for Medicare & Medicaid Services (CMS), Hospitals, Judicial Review, Jurisdiction

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Timothy FitzSimons

Reconsider That Term Sheet: DOJ "Safe Harbor Policy" Announcement Incentivizes Merger-Related Disclosures

On October 4, 2023, the Department of Justice’s (“DOJ”) Deputy Attorney General Lisa Monaco announced a new “Mergers & Acquisitions Safe Harbor Policy” (“M&A Safe Harbor Policy” or “Policy”) for companies that voluntarily…more

Acquisitions, Corporate Misconduct, Department of Justice (DOJ), Disclosure, Disgorgement

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Gerald Flattmann Jr.

GSK v. Teva and Induced Infringement by AB-Rated Generics: Where Are We Now?

The Federal Circuit’s October 2020 split decision in GSK v. Teva made waves throughout the pharmaceutical industry and among Hatch-Waxman litigators. In the broadest reading, some see the majority opinion as rendering any…more

Food and Drug Administration (FDA), Generic Drugs, Labeling, Manufacturers, Patent Infringement

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Kenneth Fleuriet

Energy Newsletter - June 2020

The Impact of COVID-19 on Nuclear Electricity Sales Contracts in France - The electricity sector, like numerous others in France, has been heavily affected by the economic shutdown due to the COVID-19 pandemic. The first…more

Administrative Hearings, Amended Rules, CARB, Climate Change, Commercial Bankruptcy

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John Fontham

Tokyo Dispute Resolution & Crisis Management Newsletter – January 2021 - Construction Projects: Disrupting the Disruptor

Once a remote health issue in China, coronavirus (“COVID-19”) remains today - as we enter the new year of 2021 - not only a global health concern but also a global economic disruptor that will impact nearly every industry. The…more

Business Interruption, China, Construction Contracts, Construction Industry, Construction Project

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John Fortuna

Federal Court Vacates Key Clean Water Act Nationwide Permit

U.S. Army Corps of Engineers Enjoined from Using NWP 12 to Authorize “Utility Line Activities” in Jurisdictional Waters - On April 15, 2020, a federal district court in Montana invalidated the United States Army Corps of…more

Clean Water Act, Endangered Species Act (ESA), NEPA, US Army Corps of Engineers

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Kristen Renee Fournier

Spotlight on PFAS and Other Substances in Cosmetics Likely to Grow in 2022

This year – 2022 – may finally be the year that the effort to modernize safety standards in the U.S. for cosmetics and other personal care products, which has been ongoing since 2013, comes to fruition. If so, the new cosmetics…more

Best Practices, Cosmetics, EU, European Commission, Food and Drug Administration (FDA)

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Daniel Fowler Jr.

SEC Views Proxy Advice as Solicitation under Federal Proxy Rules

The nation’s largest shareholder advisory firm, Institutional Shareholder Services Inc. (“ISS”), recently filed suit against the SEC over new guidelines meant to give investors more transparency into how proxy advisory firms…more

Corporate Governance, Glass Lewis, Guidance Update, Institutional Shareholder Services (ISS), Investment Adviser

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Kenneth Fowler

Delaware Chancery Court Holds Corporate Officers Owe Duty of Oversight

Vice Chancellor Laster Extends This Fiduciary Duty, Previously Recognized only as to Corporate Directors - On January 25, 2023, the Delaware Court of Chancery answered an important question of officer liability, holding for…more

Class Action, Compliance, Corporate Misconduct, Corporate Officers, DE Supreme Court

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Simon Fraser

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Amy Roebuck Frey

One Step Closer: the Canada - EU Investment Court System

On January 29, 2021, Canada and the European Union (the “EU”) took additional steps to establish the EU-Canada Comprehensive Economic and Trade Agreement (the “CETA”)[i] by adopting four decisions required to implement its new…more

Canada, CETA, Code of Conduct, Court of Justice of the European Union (CJEU), EU

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Lauren Friedman

AMLO Proposes New Legislation to Regulate the Oil & Gas Industry

On March 26, 2021, the President of Mexico, Andrés Manuel López Obrador (“AMLO”), sent a new bill to Congress intended to amend the Federal Hydrocarbons Law (the “Hydrocarbons Bill”). This is AMLO’s latest attempt to upend the…more

Energy Sector, Exports, Foreign Investment, Hydrocarbons, Imports

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Robert Friedman

FDA Releases Guidance on Testing High-Risk Drug Components for Diethylene Glycol and Ethylene Glycol

On May 10, the U.S. Food and Drug Administration (“FDA”) released a new guidance document Guidance for Industry: Testing of Glycerin, Propylene Glycol, Maltitol Solution, Hydrogenated Starch Hydrolysate, Sorbitol Solution, and…more

Contamination, Federal Food Drug and Cosmetic Act (FFDCA), Food and Drug Administration (FDA), New Guidance, Pharmaceutical Industry

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Daniel Friel

Employees Working Abroad

What are the legal issues for employers to consider? During the pandemic, many employers have been dealing with requests from employees to work abroad. With the move to remote working, employees have asked to work from…more

Coronavirus/COVID-19, Data Protection, Employment Contract, Foreign Workers, Income Taxes

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Naana Frimpong

Africa Bulletin - September 2019

INTRODUCTION - It has been a busy few months for private equity activity in Africa. Statistics and transactions have illustrated a growing appetite for investment in the continent and, crucially, growing confidence and…more

Africa, Anti-Corruption, Economic Development, Financial Markets, Foreign Investment

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Penelope Froggatt

ESG Regulation Watch: UK Developments

In November 2020, the UK government published a road map (the Roadmap) towards mandatory climate-related disclosures across all sectors of the UK economy aligned with the recommendations of the Taskforce on Climate-related…more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), New Guidance, Pension Schemes

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Kateryna Frolova

Enhancing Jurisdictional Clarity: Dubai’s New Judicial Authority

On 18 April 2024, the Ruler of Dubai established the “Judicial Authority for Resolving Jurisdictional Conflicts between the DIFC Courts and the Judicial Bodies in the Emirate of Dubai” (New Judicial Authority). This new body,…more

DIFC, Dubai, Dubai International Arbitration Center (DIAC), Jurisdiction, United Arab Emirates (UAE)

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Jeanne Fugate

Jurisdictions Are Vying for the Most Restrictive Non-Compete Laws and Your State Could Be Next

Series 3, 10 in 10: Issue 1 - Non-compete agreements are coming under increased scrutiny across the United States with several states and municipalities implementing new restrictions on these agreements in the employment…more

Compensation, Employment Contract, Enforcement, Jurisdiction, Non-Compete Agreements

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Ariana Fuller

Federal Agencies Issue Warning Regarding Iran-Based Cyber Security Threats to U.S. Healthcare Entities

On August 28, 2024, the U.S. Cybersecurity & Infrastructure Security Agency (CISA), together with the FBI and Department of Defense Cyber Crime Center, issued an advisory to U.S. organizations, including healthcare…more

Cyber Threats, Cybersecurity, Department of Defense (DOD), FBI, Healthcare

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William Fuller III

Sponsor Debt Purchases as Affiliated Lenders

In response to changes in the marketplace, it’s possible that borrowers will employ debt buybacks as a way to ease their overall net leverage levels (either as a means to cure financial covenant defaults resulting from the…more

Credit Agreements, Financial Institutions, Financial Services Industry, Financial Sponsors, Lenders

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Kathryn Furman

Fifth Circuit Vacates Private Fund Adviser Rules

On Wednesday, the U.S. Court of Appeals for the Fifth Circuit (the “court”) held that the Securities and Exchange Commission (“Commission”) exceeded its statutory authority when it adopted the Private Fund Adviser Rules (“PFAR”)…more

Certiorari, En Banc Review, Investment Adviser, Judicial Review, Pending Litigation

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Kevin Futch

Energy Newsletter - September 2017

Managing Decommissioning Risks in Asian M&A Transactions - By the end of 2026, approximately 134 producing Concessions and Production Sharing Contracts (each, a “PSC”) will have expired in South Asia. It is expected that 900…more

Acquisitions, Asia, Cross-Border, Electricity, Force Majeure Clause

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Ryan Gabay

Badgerow v. Walters: Supreme Court Narrows Federal Court Jurisdiction Over Arbitration Awards

On March 31, the Supreme Court issued its opinion in Badgerow v. Walters, significantly narrowing federal courts’ jurisdiction to confirm or vacate an arbitration award under the Federal Arbitration Act…more

Arbitration Agreements, Arbitration Awards, Enforcement, Federal Arbitration Act, Motion to Vacate

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Anna Maria Gabrysch-Datta

Zeitlich befristete Änderung der Insolvenzantragspflicht wegen Überschuldung

Erneute Lockerung der Insolvenzantragspflicht durch das SanInsKG - Mit dem „Gesetz zur vorübergehenden Anpassung sanierungs- und insolvenzrechtlicher Vorschriften zur Abmilderung von Krisenfolgen“ (kurz: Sanierungs- und…more

Coronavirus/COVID-19, Insolvency, Liability, Reorganizations, Restructuring

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Michael Galdo

New Data Center Validated End User Program Creates Pathway to Export Advanced U.S. Technology; Rigorous Review and Vetting Required

Effective October 2, 2024, the U.S. Department of Commerce, Bureau of Industry and Security (BIS), amended the Export Administration Regulations (EAR), 15 C.F.R. Parts 730 – 774, to expand the Validated End User (VEU)…more

Bureau of Industry and Security (BIS), Cybersecurity, Data Centers, ECCNs, Export Administration Regulations (EAR)

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James Gallagher

Term SOFR is Open for Business

On July 29th, 2021, the Alternative Reference Rate Committee (“ARRC”) formally recommended the adoption of CME Group’s forward-looking Secured Overnight Financing Rate term rates (“Term SOFR”). This announcement completes the…more

Alternative Reference Rates Committee (ARRC), Banking Sector, Libor, Secured Overnight Funding Rate (SOFR), Securities and Exchange Commission (SEC)

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Darren Gardner

Newsflash – What do the UK’s new employment laws mean for Financial Services?

The UK’s new Labour government unveiled a package of new workers’ rights yesterday, with wide-ranging ramifications for employers. Whilst the most significant measures will not be implemented until 2026 at the earliest,…more

Compensation, Diversity and Inclusion Standards (D&I), Employee Rights, Equal Pay, Financial Conduct Authority (FCA)

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Robert Garner

Energy Newsletter - March 2019

Texas Supreme Court Finds Anadarko is Entitled to Over $100 Million in Deepwater Horizon Defense Costs Based on Undefined Term in Insurance Policy - Insurance coverage litigation arising out of the 2010 Deepwater Horizon…more

Arbitration, Clean Water Act, Construction Disputes, Construction Industry, Deepwater Horizon

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Amy Garrigues

Major Changes Finalized to Stark Rules, Anti-Kickback Statute Safe Harbors and the Beneficiary Inducements CMP

CMS and OIG released highly anticipated final changes to the rules implementing the Stark Law, the safe harbors issued under the Anti-Kickback Statute (AKS) and the beneficiary inducements provision in the civil monetary…more

Anti-Kickback Statute, Centers for Medicare & Medicaid Services (CMS), Civil Monetary Penalty, Cybersecurity, Digital Health

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Craig Garvey

SEC Approves Polarizing 14a-8 Reforms

On September 23, 2020, the SEC adopted long-awaited amendments to Rule 14a-8 modifying the criteria for eligibility and resubmission of shareholder proposals. Prior to these amendments, the submission threshold had not been…more

Federal Register, Rule 14a-8, Securities and Exchange Commission (SEC), Shareholders

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Bryant Gatrell

FSOC and the Systemic Risk of Nonbank Companies

In a response to the difficulties it experienced in identifying nonbank systemically important entities, the Financial Stability Oversight Council (FSOC) has proposed a new procedure for detecting and dealing with potential…more

Dodd-Frank, Federal Reserve, FSOC, Nonbank Firms, Risk Assessment

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Lauren Gennett

OIG Releases Compliance Program Guidance Applicable to All Providers and Suppliers

On November 6, 2023, OIG released new General Compliance Program Guidance (General CPG). The General CPG applies to all individuals and entities involved in the healthcare industry. The release of the General CPG was not…more

Clinical Laboratories, Compliance, Corporate Integrity Agreement, Health Insurance Portability and Accountability Act (HIPAA), Healthcare Fraud

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Peter Genz

IRS and Treasury Issue Long-Awaited Proposed Guidance on Qualified Opportunity Fund Rules

On October 19, 2018, the Department of the Treasury and the Internal Revenue Service (the “IRS”) issued proposed regulations (the “Proposed Regulations”) under new section 1400Z-2 of the Internal Revenue Code (the “Code”),…more

Internal Revenue Code (IRC), IRS, Proposed Regulation, Tax Reform, U.S. Treasury

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Florian Geuder

Zeitlich befristete Änderung der Insolvenzantragspflicht wegen Überschuldung

Erneute Lockerung der Insolvenzantragspflicht durch das SanInsKG - Mit dem „Gesetz zur vorübergehenden Anpassung sanierungs- und insolvenzrechtlicher Vorschriften zur Abmilderung von Krisenfolgen“ (kurz: Sanierungs- und…more

Coronavirus/COVID-19, Insolvency, Liability, Reorganizations, Restructuring

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Adam Ghebrekristos

Cancellations, Quarantines and Closings - Coronavirus Considerations for Hospitality Lenders

Due to the novel coronavirus outbreak, the hospitality industry is potentially facing its worst crisis since the September 11, 2001 terrorist attacks. In response to the continuing outbreak, major companies have announced plans…more

Borrowers, Coronavirus/COVID-19, Financial Services Industry, Hospitality Industry, Hotel Management Agreements

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Dale Giali

Searching for the Reasonable Consumer

Every state prohibits the use of false or misleading advertising on food labeling. In many food false advertising cases, the battleground is whether the “reasonable consumer” would be deceived by the challenged label statement,…more

Appeals, False Statements, Food Labeling, Motion to Dismiss, Omissions

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Albert Giang

"Gig" Economy - Emerging Themes and Global Perspectives

On-demand workers (“gig workers”) represent a growing portion of the global workforce. While the continued growth of this category presents opportunities for employers to recalibrate their workforce strategy, it also creates…more

Employee Definition, Gig Economy, Independent Contractors, Misclassification, Unions

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Brent Gilfedder

Corporate Transparency Act: Entities That No Longer Exist May Need to File BOI Reports According to New FinCEN FAQs

Since January 1, 2024, when the Corporate Transparency Act’s (“CTA”) beneficial ownership reporting requirements became effective, a key issue has been whether companies that meet the requirements of a “reporting company” are…more

Beneficial Owner, Business Ownership, Corporate Transparency Act, Filing Deadlines, Filing Requirements

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Rebecca Gittelson

White House’s FY 2023 Budget Request Includes Healthcare Provisions

President Biden submitted his Fiscal Year (FY) 2023 budget request to Congress on March 28, 2022. The budget request is not binding on Congress. Rather, it may serve as a guide for both Congress and the administration as they…more

Budgets, Centers for Disease Control and Prevention (CDC), Department of Health and Human Services (HHS), Diversity, Food and Drug Administration (FDA)

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Betre Gizaw

Trade & Manufacturing - July 2018

The Trump Administration Announces Final List Of Articles Subject To Section 301 Tariffs - On June 15, the Office of the United States Trade Representative (“USTR”) released the final list of 818 Chinese products that will…more

Aluminum Sales, Canada, China, Imports, Mexico

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Jacqueline Glassman

EPA and NHTSA Take Regulatory Action to Revoke California Authority to Regulate Greenhouse Gas Emissions

Action May Have Far-Reaching Impacts - Today, the Environmental Protection Agency (“EPA”) and the National Highway Traffic Safety Administration (“NHTSA”) announced a joint rule intended to substantially affect California’s…more

Automotive Industry, Carbon Emissions, Clean Air Act, Deregulation, Environmental Policies

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Kevin Glenn

Tax Planning Aspects of Investing in U.S. Infrastructure Projects

On February 12, 2018, the Trump administration released an extensive infrastructure proposal that would increase U.S. federal infrastructure funding and incentives, provide state and local authorities greater discretion over…more

Infrastructure, Public Private Partnerships (P3s), Tax Planning, Trump Administration

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Barry Goheen

Spokeo II : On Remand from Supreme Court, Ninth Circuit Finds Statutory Violation of Fair Credit Reporting Act Sufficient to Confer Article III Standing

On August 15, 2017, in a much-anticipated opinion in a case that has drawn national attention in the past three years, the United States Court of Appeals for the Ninth Circuit held that an alleged violation of the Fair Credit…more

Article III, Class Action, Fair Credit Reporting Act (FCRA), Injury-in-Fact, Remand

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Lori Gordon

The USPTO Shutdown: Causes and Implications

How a USPTO Shutdown Will Affect PTAB Litigation and Prosecution Matters & Strategies - The government shutdown began December 22, 2018, but the United States Patent and Trademark Office (USPTO) and district and appeals…more

Discovery Disputes, Filing Requirements, Government Shutdown, Patent Prosecution, Patent Trial and Appeal Board

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William Gordon

The Airline Industry and the CARES Act: What Secured Lenders Need to Know

Since its enactment, aviation related companies have received well over $50 billion in grants and loans under the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) that was passed in March 2020. But how do…more

Aviation Industry, Bankruptcy Code, CARES Act, Coronavirus/COVID-19, Loan Forgiveness

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Emily Gordy

FinCEN’s Final Rule on Anti-Money Laundering for Residential Real Estate Transfers

On August 29, 2024, the Financial Crimes Enforcement Network (“FinCEN”) issued a final rule under the Bank Secrecy Act (“BSA”) requiring certain persons involved in real estate closings and settlements to report and maintain…more

AML/CFT, Anti-Money Laundering, Bank Secrecy Act, Beneficial Owner, Exemptions

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Igor Gorlach

DEA Appears Likely to Extend Ryan Haight Waiver with New Rule

On October 10, 2024, the Drug Enforcement Administration (the DEA) submitted a new rule to the White House Office of Management and Budget titled, “Third Temporary Extension of COVID-19 Telemedicine Flexibilities for…more

Coronavirus/COVID-19, DEA, New Rules, Public Health Emergency, Ryan Haight Act

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Ryan Gorman

Compensation and Benefits Insights - March 2018

Farewell to the Fiduciary Rule? The Fifth Circuit Vacates the Fiduciary Rule - On March 15, 2018, the Fifth Circuit Court of Appeals, in Chamber of Commerce v. U.S. Department of Labor, vacated the Department of Labor’s (the…more

Deadlines, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Fiduciary Rule, Health and Welfare Plans

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James Gorsline

Messages for Public Companies from the SEC’s Spate of September Enforcement Actions

The United States Securities and Exchange Commission wrapped up its fiscal year on September 30, 2019 with a flurry of enforcement actions filed in the final weeks of the month. These cases will provide fodder for analysis for…more

Accounting Controls, CEOs, Corporate Structures, Disclosure Requirements, Enforcement Actions

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Kyle Gotchy

OIG Issues Warning About Speaker Programs Sponsored by Drug and Device Companies

On November 16, 2020, OIG issued a significant Special Fraud Alert that warns about certain “inherent” fraud and abuse risks raised by speaker programs sponsored by pharmaceutical and medical device companies. OIG expressed deep…more

Anti-Kickback Statute, Centers for Medicare & Medicaid Services (CMS), Coronavirus/COVID-19, Department of Justice (DOJ), Fraud

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Adam Gray

Enhancing Jurisdictional Clarity: Dubai’s New Judicial Authority

On 18 April 2024, the Ruler of Dubai established the “Judicial Authority for Resolving Jurisdictional Conflicts between the DIFC Courts and the Judicial Bodies in the Emirate of Dubai” (New Judicial Authority). This new body,…more

DIFC, Dubai, Dubai International Arbitration Center (DIAC), Jurisdiction, United Arab Emirates (UAE)

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Catherine Greaves

CMS Releases Section 1135 Waiver in Response to the Novel Coronavirus Pandemic

On March 13, 2020, President Trump declared the coronavirus pandemic a national emergency, invoking powers under the National Emergency Act and the Stafford Act. The President’s declaration, coupled with Secretary Azar’s earlier…more

Centers for Medicare & Medicaid Services (CMS), Coronavirus/COVID-19, EMTALA, Health Care Providers

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John Green

Treasury Issues Final Regulations Addressing “Domestically Controlled” REIT Status

On April 25, 2024, the IRS and Treasury issued final regulations (the “Final Regulations”) addressing whether a real estate investment trust (a “REIT”) or a regulated investment company (a “RIC”) will constitute a “domestically…more

C-Corporation, Fair Market Value, Final Rules, FIRPTA, Income Taxes

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Kayla Green

Energy Newsletter - October 2018

Court Faults FERC in its Handling of ANR Storage Company’s Six Year Quest for Authorization to Charge Market-Based Rates for Natural Gas Storage Services - On September 21, 2018, the U.S. Court of Appeals for the District of…more

Energy Sector, FERC, Human Rights, Lebanon, Oil & Gas

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Taylor Green

Protecting Americans’ Data from Foreign Surveillance Act

A bipartisan group of U.S. senators introduced legislation on June 23, 2022, to provide the federal government authority to limit or prevent the sale of Americans’ personal data to “high-risk” countries and malign foreign…more

Cybersecurity, Data Protection, Data Security, DFSA, Export Control Reform Act (ECRA)

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Jessica Greenbaum

The Administration Takes Aim At Drug Prices Again – This Time Through A Controversial Framework for Exercising March-In Rights

The Biden Administration recently announced a plan to leverage an old tool in a new way to try to reduce drug costs: exercising “march-in rights” under the Bayh-Dole Act for drugs that were supported by government funding. …more

Bayh-Dole Act, Biden Administration, Department of Health and Human Services (HHS), Drug Pricing, Federal Contractors

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Lindsay Greenblatt

OCR Provides Guidance Regarding Patient Visitation Rights

On January 25, 2024, HHS Office for Civil Rights (OCR) issued guidance and responses to frequently asked questions regarding nondiscrimination regulations related to patient visitation. Hospitals, long term care facilities, and…more

Centers for Medicare & Medicaid Services (CMS), Code of Federal Regulations (CFR), Department of Health and Human Services (HHS), Federal Funding, Medicaid

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Jamieson Greer

USTR Initiates New Process To Request Exclusions From The Section 301 China Tariffs For “Certain Machinery Used In Domestic Manufacturing”

Exclusion requests must be filed by March 31, 2025 and granted exclusions would be available through May 31, 2025 - On October 15, 2024, the Office of the U.S. Trade Representative (“USTR”) established an electronic portal…more

China, Documentation, Imports, Manufacturers, Section 301

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Scott Greer

Guidance on Section 45V Clean Hydrogen Production Tax Credit

The trajectory of the hydrogen sector in the United States hinges on a critical question: what criteria will be used to define the term “clean hydrogen” for tax purposes? As previously outlined in our Field Guide to Clean…more

Clean Air Act, Department of Energy (DOE), Environmental Protection Agency (EPA), EU, Greenhouse Gas Emissions

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Adam Gregory

COVID as a Force Majeure Event - An Interesting and Unexpected Development in Singapore

The Appellate Division of the Singapore High Court recently provided the construction industry with interesting, and somewhat unexpected, guidance regarding COVID as a force majeure event in the context of construction…more

Appeals, Construction Contracts, Construction Industry, Coronavirus/COVID-19, Corporate Counsel

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Laura Greig

DOJ Releases Updated Export Control and Sanctions Voluntary Disclosure Policy

On December 13, 2019, the Department of Justice (“DOJ”) released an updated Export Control and Sanctions Enforcement Policy for Business Organizations (“Policy”), revising the prior policy governing voluntary self-disclosures of…more

Department of Justice (DOJ), Export Control Reform Act (ECRA), Export Controls, Exports, FCPA Corporate Enforcement Policy (CEP)

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Robert Griest

Senate Holds Hearing To Discuss Federal Data Privacy Legislation

On October 10, 2018, the Senate Committee on Commerce, Science, and Transportation conducted a hearing to discuss the European Union’s recently implemented General Data Protection Regulation (“GDPR”) and California’s Consumer…more

California Consumer Privacy Act (CCPA), Data Privacy, EU, General Data Protection Regulation (GDPR)

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Alana Griffin

BlackRock Announces Major Shift Making Climate Change Central to Investment Decisions

On January 14th, BlackRock’s CEO Larry Fink issued his annual letter to portfolio company CEOs, this year titled “A Fundamental Reshaping of Finance.” The letter focuses on the potential effect that climate change will have on…more

Climate Change, Corporate Governance, Economic Growth, Environmental Social & Governance (ESG), Green Finance

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Jim Griffin

DOJ “Strike Force” Targets Antitrust Violations in Government Contracting

On November 5, 2019, the Justice Department announced the creation of a nationwide "strike force" to address criminal antitrust violations impacting government contracting, such as price fixing and bid rigging. The strike force…more

Antitrust Violations, Bid Rigging, Collusion, Criminal Antitrust Litigation, Criminal Conspiracy

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Meaghan Griffith

Executive Order Restrains Use of No-Poach & Non-Compete Clauses

As summarized in the July 9, 2021 King & Spalding Client Alert, President Biden issued an executive order on July 9, 2021 designed to enhance competition across multiple sectors of the U.S. economy. One of the order’s key areas…more

Biden Administration, Collusion, Competition, Department of Justice (DOJ), Enforcement Actions

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Richard Groos

Potential Remedies for Russia’s Suspension of Foreign Investors’ Intellectual Property Rights

Potential Remedies for Russia’s Suspension of Foreign Investors’ Intellectual Property Rights: International Investment Arbitration - Foreign investors in Russia may have remedies pursuant to international investment treaties…more

Bilateral Investment Treaties, Economic Sanctions, Foreign Investment, Intellectual Property Protection, International Arbitration

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Leah Grossi

Department of Justice Continues to Focus on AI This Week

On September 23, 2024, the U.S. Department of Justice (Department) announced that it had updated its guidance to prosecutors on how to evaluate the effectiveness of a corporation’s compliance program. The guidance, known as the…more

Artificial Intelligence, Compliance, Computer Fraud and Abuse Act (CFAA), Corporate Misconduct, Department of Justice (DOJ)

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Jackson Makanikeoe Grubbe

DEA's Proposed Rule to Reschedule Marijuana Could Reduce Obstacles to Medical Research but Public Input Is Needed to Fill in Knowledge Gaps

On May 16, 2024, the U.S. Drug Enforcement Administration (“DEA”) issued a Notice of Proposed Rulemaking (“NPRM”) to reclassify marijuana from Schedule I to Schedule III under the federal Controlled Substances Act (“CSA”) and…more

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Robert Thomas Grue

A Cautionary Tale on Non-GAAP Metrics

Increasingly used by REITs, non-GAAP metrics can provide insights into a company’s operating results that official GAAP metrics cannot. Such measures can demonstrate a company’s ability to deliver sustainable growth in earnings…more

False Statements, Financial Reporting, Financial Statements, Form 8-K, GAAP

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Ulf Grundmann

EU Artificial Intelligence Regulation Published - What You Need to Know

Friday, July 12, 2024, the EU published the new EU Artificial Intelligence Regulation, which is first EU AI Regulation worldwide setting requirements concerning safety and free movement of goods and services using AI…more

Artificial Intelligence, Biometric Information, Documentation, Enforcement, EU

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Ashley Guffey

UK Privacy Regulator Addresses Data Protection Under The GDPR

On Monday, March 6, 2017, the UK’s Information Commissioner’s Office (“ICO”) held its annual Data Protection Practitioners’ Conference. During the conference, Information Commissioner Elizabeth Denham, who was appointed to the…more

Data Protection, EU, General Data Protection Regulation (GDPR), Information Commissioner's Office (ICO), Personal Data

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Kelli Gulite

House Republicans Establish New Select Subcommittees Focused on Pandemic and “Weaponization of the Federal Government”

On January 9, 2023, the U.S. House of Representatives adopted its rules package for the 118th Congress (“House Rules”) by a vote of 220 to 213. While much attention has been given to the provisions that would significantly…more

Biden Administration, Coronavirus/COVID-19, Fraud Abuse and Waste, Investigations, Regulatory Oversight

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Vera De Brito de Gyarfas

Energy Newsletter - August 2019

Significant Changes to FERC’s Rules for Market-Based Rate Sellers - On July 18, 2019, the Federal Energy Regulatory Commission (“FERC”) issued two orders modifying its rules for sellers to obtain or retain authorization to…more

Energy Sector, FERC, Intercreditor Agreements, ISO/RTO, Latin America

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Sophia Hafley

Transitional Coverage for Emerging Technologies: CMS’s Latest, But Not Necessarily Greatest, Coverage with Evidence Approach

On August 7, 2024, the Centers for Medicare & Medicaid Services (“CMS” or the “Agency”) issued a final procedural notice (“Notice”) outlining a new Medicare coverage pathway, aimed at achieving timelier and predictable access to…more

AHRQ, Beneficiaries, Centers for Medicare & Medicaid Services (CMS), Food and Drug Administration (FDA), Health Technology

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Ehren Halse

Cryptocurrency: Legal Developments and Outlook

Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants…more

Anti-Money Laundering, Bitcoin, Bitcoin Mining, Blockchain, CFIUS

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Michael Hamilton

The Insider: Key Developments for Chief Legal Officers and Corporate Legal Teams

Welcome to the inaugural issue of The Insider. This new publication from King & Spalding’s Public Companies Practice, which will be produced periodically, is focused on key developments for chief legal officers and their…more

Attorney-Client Privilege, D&O Insurance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Duty to Monitor

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Elizabeth Han

HHS Announces Proposed Changes to the HIPAA Privacy Rule

On December 10, 2020, the HHS Office of Civil Rights (OCR) announced proposed modifications to the Health Insurance Portability and Accountability Act (HIPAA) Privacy Rule. Among other changes, the proposed rule would shorten…more

Department of Health and Human Services (HHS), Health Insurance Portability and Accountability Act (HIPAA), Privacy Laws, Proposed Amendments, Proposed Rules

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Kathryn Han

OIG Issues Four Advisory Opinions

From December 23, 2020 through December 31, 2020, the OIG issued several advisory opinions. The advisory opinions analyzed (1) a program for a pharmaceutical manufacturer to provide financial assistance to certain patients, (2)…more

Advisory Opinions, Anti-Kickback Statute, Financial Assistance Policies, Food and Drug Administration (FDA), Home Health Agencies

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Michael Handler

Supreme Court Asked to Resolve Circuit Split On Whether Licensee Trademark Rights Survive Rejection in Bankruptcy

On June 11, 2018, Mission Product Holdings, Inc. (“MPHI”), a developer of chemical free cooling fabrics, petitioned the U.S. Supreme Court for a writ of certiorari to resolve a circuit split on whether a licensee’s right to use…more

Bankruptcy Court, Debtors, Intellectual Property Protection, Licensees, Petition for Writ of Certiorari

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Adam Hankiss

Hydrogen-Related Provisions of the Inflation Reduction Act of 2022

The Inflation Reduction Act of 2022, passed by the Senate on August 7, 2022, includes a number of provisions projected to result in significant investments in domestic energy production and manufacturing, and reduce carbon…more

Biden Administration, Carbon Capture and Sequestration, Carbon Emissions, Department of Energy (DOE), Department of Labor (DOL)

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Matthew Hanson

FinCEN Requests Comments on Beneficial Ownership Reporting Requirement; FinCEN’s Request For Information Moves U.S. Towards Modernization Of BSA/AML Regime

The United States Department of the Treasury (“Treasury”) is taking further action to combat corruption, money laundering, terrorist financing, tax fraud, and other illicit activities. Following its Advance Notice of…more

Bank Secrecy Act, Beneficial Owner, BSA/AML, Corporate Transparency Act, Corruption

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Samaa Haridi

U.S. Supreme Court Holds Plaintiffs May Use RICO to Enforce Foreign Arbitral Awards

In a January 17, 2023 Client Alert, we addressed the U.S. Supreme Court’s decision to grant certiorari in CMB Monaco v. Smagin and Yegiazaryan v. Smagin, two cases which concern the use of the Racketeer Influenced and Corrupt…more

Bribery, Domestic Injury, Embezzlement, Foreign Arbitral Awards, Fraud

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Zachary Harmon

Executive Order Restricts Foreign Access to U.S. Data, Citing National Security Risks

On February 28, 2024, President Biden signed Executive Order (EO) 14117 titled “Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern.” On March 5, 2024,…more

Advanced Notice of Proposed Rulemaking (ANPRM), Artificial Intelligence, Biden Administration, Biometric Information, Cyber Espionage

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Sophia Sepulveda Harms

Russia’s Recent Actions Against Foreign Investors Will Give Rise to Claims Under International Investment Treaties

Since the Russian Federation’s invasion of Ukraine, more than 400 international companies have announced their intentions to scale back or shut down their business operations in Russia. Russia has responded to the exodus of…more

Bilateral Investment Treaties, Economic Sanctions, Energy Charter Treaty, Foreign Investment, Military Conflict

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Mehdi Haroun

Algeria Launches A Call For Tenders For The Long-Awaited “Solar 1,000 MW” Project

After several postponements since it was first announced back in 2020, Algeria finally launched a call for tenders for a 1GW solar project, the so-called “Solar 1,000 MW” Project, on December 23, 2021. SCOPE - The Solar…more

Algeria, Financing, Solar Energy, Special Purpose Vehicles

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Adam Harper

Biden Administration Issues Proposed Rule Targeting “Connected Vehicles” Tied to China or Russia

The Proposed Rule imposes substantial new reporting, diligence, and compliance obligations for companies in the automotive supply chain - On September 26, 2024, the U.S. Department of Commerce’s Bureau of Industry and…more

Advanced Notice of Proposed Rulemaking (ANPRM), Advisory Opinions, Automation Systems, Automotive Industry, Biden Administration

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Anne Harris

Recent Proliferation of Pay Disclosure Laws in the United States Presents Opportunities and New Considerations for Employers

Within the past five years, a growing number of states and localities have enacted pay disclosure laws requiring employers to disclose pay rates or salary ranges during the hiring process. To date, California, Colorado,…more

Disclosure Requirements, Employee Benefits, Enforcement, Environmental Social & Governance (ESG), Pay Transparency

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Drew Harris

SEC Adopts Private Fund Reform Rules

On August 23, 2023, in a 3-2 vote, the SEC adopted a rule package (the “Adopted Rules”) that establishes significant new obligations for private fund advisers under the Investment Advisers Act of 1940. While the Adopted Rules…more

Audits, Books & Records, Clawbacks, Compliance, Disclosure Requirements

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Joanna Harris

World Bank Integrity Vice Presidency Continues Robust Enforcement in 2020

On October 8, 2020, the World Bank Group (“WBG”) issued its Sanctions System Annual Report for the fiscal year 2020 (the “Report”), detailing the WBG’s efforts to investigate and adjudicate allegations of sanctionable practices…more

Coronavirus/COVID-19, World Bank

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Katie Harris

Constitutional Limitations On Emergency Authority

Lessons For The COVID-19 Pandemic Landscape - INTRODUCTION - Over the last two months, there has been a flurry of federal, state, and local government action to stem the spread of COVID-19. These efforts have included a…more

Coronavirus/COVID-19, Due Process, Emergency Powers, Executive Orders, Fifth Amendment

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Laura Harris

Can’t We All Just Get Along? Four Key Areas of Dispute in the Evolving Landscape of LIBOR Cessation Litigation

On November 30, 2020, parties to legacy LIBOR contracts breathed a collective sigh of relief as LIBOR’s administrator Intercontinental Exchange, Inc. (“ICE”) announced that US Dollar LIBOR would continue to be published until…more

Adjustable-Rate Mortgage, Alternative Reference Rates Committee (ARRC), Class Action, Enforcement Actions, EU

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TaCara Harris

FDA Warns That Most Hair Smoothing or Straightening Products Release Formaldehyde Gas During the Hair Straightening or Smoothing Process

On March 2, 2021, the U.S. Food & Drug Administration (“FDA”) issued a consumer update in the form of a “what you should know” regarding formaldehyde in hair smoothing or straightening products, such as keratin treatments. FDA…more

Environmental Protection Agency (EPA), Food and Drug Administration (FDA), OSHA, Toxic Chemicals, Warning Labels

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Matt Hartsuyker

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Sidney Stewart Haskins II

Supreme Court Accepts Narrow Definition of Autodialer, Limiting Reach of TCPA

On April 1, in a highly anticipated decision that likely will have a significant effect on litigation under the Telephone Consumer Protection Act (TCPA), the Supreme Court ruled on what qualifies as an “automatic telephone…more

ATDS, Auto-Dialed Calls, Facebook, Facebook Inc v Duguid, Random or Sequential Number Generator

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Thomas Hawk III

Study Shows Hospital M&A Deals Linked to Improved Quality of Care

A research study published September 20, 2021 in JAMA Network Open found that mergers and acquisitions of rural hospitals are associated with better mortality outcomes for certain conditions as compared to rural hospitals that…more

Hospital Mergers, Hospitals, JAMA, Quality of Care Standards

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Holmes Hawkins III

Energy Newsletter - June 2017

Mineral and Royalty Interest MLPs: An Alternative Exit For PE-Backed Mineral and Royalty Interest Cos. - Oil and gas exploration companies no longer have to go door-to-door, or ranch-to-ranch, to negotiate oil and gas…more

Construction Disputes, Dispute Resolution, Energy Sector, Minerals, Patent Infringement

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Angela Hayes

What happens in Vegas...

Non-financial misconduct and the UK Senior Managers and Certification Regimen - The old adage goes that, “What happens in Vegas, stays in Vegas.” But, does this really hold true in the UK financial services sector?…more

#MeToo, Duty to Disclose, Employment Tribunals, Financial Conduct Authority (FCA), Financial Services Industry

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Peter Hays

EPA’s Proposed Methane Rule to Increase Regulatory Burden on “Super Pollutant”

On November 2, 2021, the Environmental Protection Agency (“EPA”) issued a Notice of Proposed Rulemaking (“NPRM”) proposing sweeping regulations on emissions from methane, what the Biden administration considers a “super…more

Climate Change, Environmental Justice, Environmental Protection Agency (EPA), Federal Register, Methane

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Michael Heafey

ITC Section 337 Update – August 2016

DeLorme Seeks Certiorari Review Of Consent Order Penalty Based On Expired Patent — On July 13, 2016, DBN Holding, Inc. and BDN LLC (“DeLorme”) filed a petition for writ of certiorari to review a judgment of the United States…more

Anti-Dumping Duty, Appeals, Component Parts Doctrine, Consent Order, Countervailing Duties

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Moritz Heidbuechel

Schluss mit dem Schriftformmangel!

Wer in der deutschen Immobilienwirtschaft Transaktionen begleitet hat, dem ist das Schreckenswort „Schriftformmangel“ vertraut. Kein Due Diligence-Bericht zu den Mietverträgen eines Objekts, der dieses Thema nicht angesprochen…more

Contract Terms, Due Diligence, Germany, Landlords, Leases

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Nigel Heilpern

A Guide to UK Tax on Commercial Real Estate: Non-Residents

1. Introduction - This client alert provides a summary of key UK tax considerations when a nonresident invests into UK commercial real estate. There are a number of holding structures for investment into UK real estate by…more

Commercial Real Estate Market, Diverted Profits Tax, Foreign Tax, Limited Liability Company (LLC), Limited Partnerships

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Karl Heisler

EPA's New Actions in the Battery Industry May Promote Uniformity

The United States Environmental Protection Agency (“EPA”) issued a voluntary Request for Information (“RFI”) on June 9, 2022, regarding best practices for battery recycling and labeling guidelines. 87 Fed. Reg. 35,202. The RFI…more

Battery, Department of Labor (DOL), Infrastructure Investment and Jobs Act (IIJA), Labeling, Lithium Batteries

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Lucila Hemmingsen

California’s New Law To Prevent Greenwashing In Environmental Marketing For Voluntary Carbon Offsets

As part of a package of new climate change legislation, on October 7, 2023, California Governor Gavin Newsom signed into law the Voluntary Carbon Market Disclosures Act (“VCMDA” or “AB 1305”). Intended as an effort to reduce…more

California, Civil Monetary Penalty, Climate Change, Corporate Governance, Environmental Violations

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Douglas Henderson

Key Recent Developments In Environmental Justice Litigation

Louisiana remains at the forefront of environmental justice activity. In just four days from January 19 to January 23, 2024, two courts in Louisiana offered interpretations to environmental justice efforts in the State of…more

Anti-Discrimination Policies, Appeals, Civil Rights Act, Clean Air Act, Department of Environmental Quality

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Arlene Hennessey

EPA Releases a Cumulative Impacts Addendum to its Environmental Justice Tool Kit

On January 11, 2023, EPA’s Office of the General Counsel released a Cumulative Impacts Addendum (“Addendum”) to its May 2022 publication Legal Tools To Advance Environmental Justice, continuing to signal its focus on cumulative…more

Civil Rights Act, Clean Air Act, Clean Water Act, Environmental Justice, Environmental Protection Agency (EPA)

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Lindsey Henrikson

Energy Newsletter - September 2020

Climate Change Litigation on the Horizon with Trump Environmental Overhaul - On July 16, 2020, President Trump’s Council on Environmental Quality (“CEQ”) published the long-awaited final rule revising the implementing…more

CEQ, CFIUS, Climate Change, Coronavirus/COVID-19, Debt Restructuring

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Eric Henry

Predetermined Change Control Plans (PCCPs) for Medical Devices: FDA Issues Draft Guidance

On August 22, 2024, the U.S. Food and Drug Administration (FDA or Agency) issued a draft guidance entitled, Predetermined Change Control Plans for Medical Devices. The draft guidance describes how FDA plans to implement new…more

510(k) RTA, Applications, Artificial Intelligence, Draft Guidance, Federal Food Drug and Cosmetic Act (FFDCA)

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Nell Henson

Cooperation Credit and Attorney-Client Privilege: The Implications of Coburn

Cognizant Technology’s Privilege Waiver - On February 1, 2022, the District of New Jersey ordered a company to produce internal investigation materials to two former executives indicted in connection with an alleged foreign…more

Attorney-Client Privilege, Bribery, Corporate Counsel, Department of Justice (DOJ), Federal Rules of Evidence

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Joëlle Herschtel

New European Batteries Regulation Has Been Adopted

The European Union (EU) published its new Batteries Regulation on July 28, 2023. The long-awaited text, presented for the first time by the EU Commission in late 2020 and subject to negotiations since then, contains a…more

Batteries, Electric Vehicles, EU, European Commission, Hazardous Substances

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Heloise Herve

Russia’s Recent Actions Against Foreign Investors Will Give Rise to Claims Under International Investment Treaties

Since the Russian Federation’s invasion of Ukraine, more than 400 international companies have announced their intentions to scale back or shut down their business operations in Russia. Russia has responded to the exodus of…more

Bilateral Investment Treaties, Economic Sanctions, Energy Charter Treaty, Foreign Investment, Military Conflict

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Guillaume Hess

SCCA Publishes New Arbitration Rules

The Saudi Center for Commercial Arbitration (“SCCA”) announced on 1 May 2023 the publication of its revised SCCA Arbitration Rules (the “2023 Rules”). This follows the SCCA’s announcement in November 2022 of i) the formation of…more

Arbitration, Arbitration Agreements, DIFC, Mediation, New Rules

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Theodore Hester

Oversight Subcommittee on the Coronavirus Crisis Continues to Actively Investigate the Previous Administration’s Pandemic Response

When announcing the Democratic members of the Select Subcommittee on the Coronavirus Crisis for the 117th Congress, Chairman Jim Clyburn (D-SC) stated that, “In order to improve our nation’s response, the Select Subcommittee…more

CARES Act, Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Department of Veterans Affairs, Economic Injury Disaster Loans

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Daniel Hettich

Loper Bright v. Raimondo

U.S. Supreme Court overrules Chevron and restores courts’ obligation to exercise independent judgment - On June 28, 2024, in one of the last decisions of the Term, the U.S. Supreme Court issued its long-awaited decision in…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Constitutional Challenges, Government Agencies

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I. Cason Hewgley IV

Infrastructure Bill Paves the Way for New Energy Investments and Technology

In November 2021, “[t]he United States House of Representatives passed the Infrastructure Investment and Jobs Act, a once-in-generation bipartisan infrastructure bill that will create millions of jobs, turn the climate crisis…more

Carbon Capture and Sequestration, Climate Action Plan, Climate Change, Department of Energy (DOE), Electric Vehicles

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Jacob Heyka

SEC Adopts Amendments to Form PF; Establishes Certain “Event Reporting” Requirements for Private Equity Advisers and Large Hedge Fund Advisers, Among Other Obligations

On May 3, 2023, the SEC adopted amendments to Form PF that will establish new event-reporting requirements for “private equity fund advisers” and “large hedge fund advisers”, and will require certain additional annual…more

Compliance, Hedge Funds, Investment, Investment Adviser, Private Equity Funds

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Scott Hiers

U.S. House of Representatives Establishes Select Committee on Strategic Competition with China

On January 10, 2023, the House of Representatives passed H.Res. 11 establishing the Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party (the “Select Committee”). The resolution…more

China, Competition, Foreign Investment, Investigations, Popular

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Tyler Highful

Institutional Investors Petition the SEC to Require ESG Disclosures

On October 1, 2018, two law school professors—Cynthia Williams of York University and Jill Fisch of the University of Pennsylvania—together with numerous institutional investors that collectively manage more than $5 trillion in…more

Corporate Governance, Financial Institutions, Institutional Investors, Securities and Exchange Commission (SEC)

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Brian Hill

U.S. International Trade Commission to Investigate Potential Waiver of International Intellectual Property Rights for COVID-19 Diagnostics and Therapeutics

On February 1, 2023, the U.S. International Trade Commission (the “ITC”) initiated an investigation into the impact of intellectual property (“IP”) rights on the production, supply, and availability of diagnostics and…more

Coronavirus/COVID-19, Intellectual Property Protection, International Trade Commission (ITC), Supply Chain, TRIPS Agreement

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Eleanor Hill

U.S. Blocks Alibaba Affiliate Ant Financial’s Acquisition of MoneyGram

De-facto blocking evidences continuing scrutiny of Chinese investments in U.S. companies in the strategic technology and financial industries. On January 2, 2018, MoneyGram International, Inc. (NYSE:MGI (“MoneyGram”) and…more

Acquisitions, Alibaba, CFIUS, China, De Facto Injury

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Max Hill

UK Looks to Tighten Online Content

Political pressure increasing on social media companies to police their platforms - Over the course of a week in August, the UK experienced widespread civil unrest with crimes such as rioting, vandalism, looting and assault…more

Assault, Criminal Investigations, Duty of Care, Economic Sanctions, False Statements

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Nicholas Hill

Federal Court in Maryland Holds Property Insurer Must Provide Coverage for Ransomware Attack

Cyber insurance policies are typically a company’s first line of defense following a cybersecurity event, but a recent decision from a federal court in Maryland illustrates why businesses should always look for cyber coverage…more

Cyber Insurance, Cybersecurity, Insurance Claims, Insurance Industry, Insurance Litigation

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Daniel Hirschfield

Avoiding the Cliff Edge - Immediate Steps for Firms and Groups with Financial Services Businesses in Europe Involving the UK

The UK is due to leave the European Union on March 29, 2019 (“Brexit”). Within the EEA, “passport rights” permit financial services institutions and funds authorised in any EEA Member State to conduct business cross border…more

EU, EU Passport, European Economic Area (EEA), Financial Services and Markets Act, Financial Services Industry

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Gary Ho

NAIC's Focus on Investment Management Agreements (IMAs) involving Private Equity-Owned Insurers

As private equity investors continue to increase their presence in the insurance industry with acquisitions of insurers and reinsurance of blocks of insurance contracts through insurer portfolio companies and segregated cells,…more

Conflicts of Interest, Insurance Industry, Investment Management, Investors, Life Insurance

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Quynh Hoang

FDA Issued Draft Objective Performance Criteria For Five Device Types

Implications for 510(k) Submissions - On September 20, 2019, FDA issued four separate draft guidance documents for industry and FDA administration staff that provide extensive objective performance criteria (OPC) for five…more

510(k) RTA, Draft Guidance, Food and Drug Administration (FDA), Life Sciences, Medical Devices

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Jordan Hodge

2023 SEC Exam Priorities

On February 7, the Division of Examinations of the Securities and Exchange Commission (the “Division”) published its 2023 Examination Priorities (the “Exam Priorities”).1 The Exam Priorities indicate a particular Staff…more

Business Development Companies, Business Expenses, CFTC, Compliance, Conflicts of Interest

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Dominic Hodson

Newsflash – What do the UK’s new employment laws mean for Financial Services?

The UK’s new Labour government unveiled a package of new workers’ rights yesterday, with wide-ranging ramifications for employers. Whilst the most significant measures will not be implemented until 2026 at the earliest,…more

Compensation, Diversity and Inclusion Standards (D&I), Employee Rights, Equal Pay, Financial Conduct Authority (FCA)

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Timothy Hoffmann

Utilizing Structured Finance Techniques in Distressed Situations

Securitization, and structured finance generally, is a critical capital-raising tool for many companies. Utilizing one or more bankruptcy-remote special purpose entities to legally isolate the credit risk of quality,…more

Bankruptcy Code, Bankruptcy Court, Capital Raising, Contingency Plans, Credit Enhancements

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Cory Hohnbaum

The Coming Wave of Remote Depositions

The competing interests of social distancing and litigation needs are forcing the legal profession to re-think the most fundamental functions. The Supreme Court of the United States is now hearing arguments by phone. Appellate…more

Coronavirus/COVID-19, Social Distancing, Telecommunications

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William Holby

First Circuit Finds Chapter 9 Special Revenue Provisions Permit Voluntary Payment, But Do Not Require Them

On March 26, 2019, the First Circuit Court of Appeals, affirming a decision by the District Court emanating out of the Puerto Rico Title III bankruptcy cases, found that Sections 928(a) and 922(d) of the Bankruptcy Code “permit,…more

Appeals, Article III, Bankruptcy Code, Chapter 9, Liens

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Elizabeth Holden

EPA's New Actions in the Battery Industry May Promote Uniformity

The United States Environmental Protection Agency (“EPA”) issued a voluntary Request for Information (“RFI”) on June 9, 2022, regarding best practices for battery recycling and labeling guidelines. 87 Fed. Reg. 35,202. The RFI…more

Battery, Department of Labor (DOL), Infrastructure Investment and Jobs Act (IIJA), Labeling, Lithium Batteries

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Phil Holladay

DOT Releases Autonomous Vehicles Guidelines - New AV Policy Sets a Course for Safety and Oversight

The highly anticipated Federal Automated Vehicles Policy (AV Policy), released yesterday, provides manufacturers direction on developing safer autonomous cars. In addition, NHTSA has presented a model guide for states on their…more

Automotive Industry, Department of Transportation (DOT), Driverless Cars, Motor Vehicles, NHTSA

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Michael Hollander

Broad Consumer Privacy Bill Introduced In New York State Senate

New York’s State Senate is considering a bill that would impose sweeping new requirements upon companies that collect and process consumer data, including a fiduciary-like duty to protect such data. On May 9, 2019, New York…more

California Consumer Privacy Act (CCPA), Consumer Privacy Rights, Data Collection, Data Privacy, Data Processors

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Ryan Hollands

House Passes FIT21 – What does it say, and what does it mean for digital asset providers?

On, May 22, 2024, the U.S. House of Representatives passed H.R. 4763, Financial Innovation for Technology for the 21st Century Act (“FIT21”). The legislation was touted by the House Financial Services Committee’s Chairman,…more

Blockchain, CFTC, Digital Assets, Disclosure Requirements, Enforcement

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W. Todd Holleman

FSOC and the Systemic Risk of Nonbank Companies

In a response to the difficulties it experienced in identifying nonbank systemically important entities, the Financial Stability Oversight Council (FSOC) has proposed a new procedure for detecting and dealing with potential…more

Dodd-Frank, Federal Reserve, FSOC, Nonbank Firms, Risk Assessment

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Emerson Holmes

Tokyo Dispute Resolution & Crisis Management Newsletter – June 2020: Coronavirus & Construction Contracts - Causation, Force Majeure and Notice Provisions

Large construction projects, by their very nature, carry significant commercial and financial risk for the parties involved. Contributing to this overall risk is the reality that an act of nature or other circumstance beyond the…more

Australia, Causation, Construction Contracts, Construction Industry, Construction Project

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Edward Holzwanger

D.C. Non-Compete Ban

D.C. Bans Non-Compete Provisions in Employment Agreements and Employment Policies - The District of Columbia has enacted a law that will prohibit nearly all non-compete agreements between D.C. employers and D.C. employees. …more

Conflicts of Interest, Employment Policies, Non-Compete Agreements, Pre-Employment Agreements, Trade Secrets

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Ye Cecilia Hong

Third Circuit Rules Make-Whole Provisions Enforceable in the Energy Future Bankruptcy

On November 17, the U.S. Court of Appeals for the Third Circuit (the “Court”) made clear its stance on the question of enforceability of make-whole provisions in bankruptcy. Bucking the recent trend seen in cases such as In re…more

Appeals, Bankruptcy Court, Borrowers, Commercial Bankruptcy, Debt

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Peter Hood

Following Finch: Planning Permission for Coal Mine Quashed

In the recent case of Friends of the Earth v Secretary of State for Levelling Up, Housing & Communities & others; South Lakeland Action on Climate Change v Secretary of State for Levelling Up, Housing & Communities & others…more

Carbon Emissions, Climate Change, Coal Mines, Environmental Assessments, Environmental Policies

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Marie Hoolihan

Changes to the Duty to Prevent Sexual Harassment

The Worker Protection (Amendment of Equality Act 2020) Act 2023 comes into force on 26 October 2024, introducing a new legal obligation on UK employers to take ‘reasonable steps’ to prevent sexual harassment at work. In this…more

#MeToo, Employee Training, Employer Liability Issues, Employment Policies, Equality Act

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John Horn

AI Driven "Deepfakes" Expose Holes in Corporate Compliance Programs: The Road to Recovery

Artificial intelligence (“AI”) has made astounding advancements in recent years. Driven by incredible computing power, AI has the potential to change nearly every industry. AI is touted as having the potential to reduce…more

Artificial Intelligence, Audio Recording, Biometric Information, Corporate Counsel, Cyber Attacks

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Lauren Horneffer

Preventing Organizational Conflicts of Interest in Federal Acquisition Act

On December 27, 2022, Congress passed the Preventing Organizational Conflicts of Interest in Federal Acquisition Act (“the Act”), aiming to help identify and mitigate potential conflicts of interest between taxpayer-funder…more

Conflicts of Interest, Disclosure Requirements, Federal Acquisition Regulations (FAR), Federal Contractors

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Dr. Sten Hornuff

Aufsichtsrechtliche und zivilrechtliche Rechtsfolgen bei Verstößen gegen Transparenzpflichten nach der OffenlegungsVO und TaxonomieVO?

Seit dem 10. März dieses Jahres gilt die Verordnung (EU) 2019/2088 des Europäischen Parlaments und des Rates vom 27. November 2019 über nachhaltigkeitsbezogene Offenlegungspflichten im Finanzdienstleistungssektor…more

Compensation, Disclosure Requirements, Environmental Social & Governance (ESG), EU, European Parliament

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Matthew Horton

South Carolina Receives Approval from CMS to Implement Medicaid Work Requirements

On December 12, 2019, CMS approved South Carolina’s proposal for a demonstration project that would add work, or community engagement, requirements as part of the eligibility determinations for the state’s Medicaid plan. South…more

1115 Waivers, Affordable Care Act, Centers for Medicare & Medicaid Services (CMS), Medicaid, Medicaid Work Requirements

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Karina Houghton

Cryptocurrency: Legal Developments and Outlook

Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants…more

Anti-Money Laundering, Bitcoin, Bitcoin Mining, Blockchain, CFIUS

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Abigail Hoverman

Illinois BIPA Reform Takes Effect

The long-awaited amendment provides immediate relief to corporate defendants from business-destroying liability - On August 2, 2024, Senate Bill 2979 went into effect limiting available damages under Illinois’ Biometric…more

Biometric Information, Biometric Information Privacy Act, Class Action, Data Collection, Data Privacy

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Nicholas Howell

OSHA Pushes Ahead With Final Vax Or Test Rule Despite Court Challenges

On November 5, 2021, the U.S. Occupational Safety and Health Administration (“OSHA”) published an Emergency Temporary Standard (“ETS”) mandating employers implement “vax or test” policies for COVID-19. The ETS went into…more

Centers for Medicare & Medicaid Services (CMS), Coronavirus/COVID-19, Employer Mandates, OSHA, Vaccinations

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Nina Howell

Changes to REMIT

REMIT is Regulation (EU) No 1227/2011 on wholesale energy market integrity and transparency which has been in force since 28 December 2011. Its purpose is to support open and fair competition in the European wholesale energy…more

Electricity, Energy Market, Energy Sector, Wholesale

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Kerrie Howze

Major Changes Finalized to Stark Rules, Anti-Kickback Statute Safe Harbors and the Beneficiary Inducements CMP

CMS and OIG released highly anticipated final changes to the rules implementing the Stark Law, the safe harbors issued under the Anti-Kickback Statute (AKS) and the beneficiary inducements provision in the civil monetary…more

Anti-Kickback Statute, Centers for Medicare & Medicaid Services (CMS), Civil Monetary Penalty, Cybersecurity, Digital Health

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Andrew Hruska

Reconsider That Term Sheet: DOJ "Safe Harbor Policy" Announcement Incentivizes Merger-Related Disclosures

On October 4, 2023, the Department of Justice’s (“DOJ”) Deputy Attorney General Lisa Monaco announced a new “Mergers & Acquisitions Safe Harbor Policy” (“M&A Safe Harbor Policy” or “Policy”) for companies that voluntarily…more

Acquisitions, Corporate Misconduct, Department of Justice (DOJ), Disclosure, Disgorgement

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Claudia Hrvatin

Cannabis Banking Bill Clears U.S. House of Representatives

On September 25, 2019, the U.S. House of Representatives approved historic legislation to provide legalized marijuana businesses access to banking services. H.R. 1595, the Secure and Fair Enforcement Banking Act of 2019 or the…more

Banking Sector, Decriminalization of Marijuana, Dispensaries, Marijuana, Marijuana Related Businesses

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Peter Hsiao

California’s New Law To Prevent Greenwashing In Environmental Marketing For Voluntary Carbon Offsets

As part of a package of new climate change legislation, on October 7, 2023, California Governor Gavin Newsom signed into law the Voluntary Carbon Market Disclosures Act (“VCMDA” or “AB 1305”). Intended as an effort to reduce…more

California, Civil Monetary Penalty, Climate Change, Corporate Governance, Environmental Violations

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Robert Hudock

HHS Office for Civil Rights Issues Guidance Regarding HIPAA Requirements for Online Tracking Technologies

On December 1, the Office for Civil Rights (OCR) at the U.S. Department of Health and Human Services provided guidance on the intersection of the Health Insurance Portability and Accountability Act (HIPAA) and the use of online…more

Business Associates Agreement (BAA), Data Protection, Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

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David Hudson

Cancellations, Quarantines and Closings - Coronavirus Considerations for Hospitality Lenders

Due to the novel coronavirus outbreak, the hospitality industry is potentially facing its worst crisis since the September 11, 2001 terrorist attacks. In response to the continuing outbreak, major companies have announced plans…more

Borrowers, Coronavirus/COVID-19, Financial Services Industry, Hospitality Industry, Hotel Management Agreements

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Jason Huff

The Airline Industry and the CARES Act: What Secured Lenders Need to Know

Since its enactment, aviation related companies have received well over $50 billion in grants and loans under the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) that was passed in March 2020. But how do…more

Aviation Industry, Bankruptcy Code, CARES Act, Coronavirus/COVID-19, Loan Forgiveness

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Stephen Huffaker

Accelerated Covid-19 Vaccine Clinical Trials

Liability exposure and shields for vaccine developers - As the number of COVID-19 cases continues to rise every day, efforts to develop vaccines across the globe have hit record speeds. In the U.S., the U.S. Food and Drug…more

Center for Biologics Evaluation and Research (CBER), Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Department of Health and Human Services (HHS), European Medicines Agency (EMA)

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Aaron Hullman

Hydrogen-Related Provisions of the Inflation Reduction Act of 2022

The Inflation Reduction Act of 2022, passed by the Senate on August 7, 2022, includes a number of provisions projected to result in significant investments in domestic energy production and manufacturing, and reduce carbon…more

Biden Administration, Carbon Capture and Sequestration, Carbon Emissions, Department of Energy (DOE), Department of Labor (DOL)

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Brendan Hundt

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Martin Hunt

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Michelle Huntsman

OIG Issues Favorable Advisory Opinion Regarding Proposed Patient Assistance Program Operated by a Nonprofit Grant-Making Organization

On August 20, 2024, OIG issued Advisory Opinion No. 24-07 in which it responded to a request for an advisory opinion regarding a nonprofit grant-making organization’s (Requestor) proposal to fund a patient assistance program…more

Advisory Opinions, Anti-Kickback Statute, Medicare Part D, OIG, Patient Assistance Programs

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Robert Hur

Department of Justice Continues to Focus on AI This Week

On September 23, 2024, the U.S. Department of Justice (Department) announced that it had updated its guidance to prosecutors on how to evaluate the effectiveness of a corporation’s compliance program. The guidance, known as the…more

Artificial Intelligence, Compliance, Computer Fraud and Abuse Act (CFAA), Corporate Misconduct, Department of Justice (DOJ)

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Monica Hwang

Energy Newsletter - August 2020

Environmental Tort Class Actions - In what has become a near legal certainty following plant explosions, train wrecks with chemical spills, and other large-scale accidents, plaintiffs often file suit and seek to certify…more

Board of Directors, Class Action, Coronavirus/COVID-19, Damages, Disclosure

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John Hyman

The Insider: Key Developments for Chief Legal Officers and Corporate Legal Teams

Welcome to the inaugural issue of The Insider. This new publication from King & Spalding’s Public Companies Practice, which will be produced periodically, is focused on key developments for chief legal officers and their…more

Attorney-Client Privilege, D&O Insurance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Duty to Monitor

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Christopher Hyner

New U.S. Customs Anti-Forced Labor Tool Will Require Submission Of Chinese Supplier Postal Codes

On January 26, 2023, U.S. Customs and Border Protection (“CBP”) provided more detail on its imminent implementation of another tool to detect potential forced labor imports into the United States. CBP confirmed that it will…more

China, Customs and Border Protection, Enforcement, Forced Labor, Imports

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Kevin Hynes

Litigation

From a litigation perspective, designating PFOA and PFOS as CERCLA hazardous substances will have a substantial impact on future litigation. Currently, EPA’s Chemical Data Reporting (CDR) rule under the Toxic Substance Control…more

CERCLA, Chemical Data Reporting, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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Christie Iannetta

NHTSA to Require Reporting of Crashes Involving SAE Automation Levels 2+

On June 29, 2021, the National Highway Traffic Safety Administration (NHTSA) issued a Standing General Order (SGO) to manufacturers and operators of Automated Driving Systems (ADS) and Level 2 Advanced Driver Assistance Systems…more

Automotive Industry, Confidential Business Information (CBI), Driverless Cars, Good Faith, Hardware

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Hayley Ichilcik

Court of Appeal decision in SFO v ENRC: l itigation privilege wins the day (for now)

In an eagerly awaited judgment, the English Court of Appeal has today overturned an earlier decision narrowing the scope of litigation privilege in criminal investigations in the UK. The Court of Appeal ruled that interview…more

Appeals, Criminal Investigations, Internal Investigations, Litigation Privilege, Serious Fraud Office (SFO)

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Zuzana Ikels

Healthcare Management Services Organizations Get The Green Light In California

Healthcare management services organizations (MSO), also known as a medical management company, have become critical to managing healthcare operations. The structure of the MSO and the MSO ownership, however, carry risk and case…more

Anti-Kickback Statute, Appeals, California, Dismissals, Health Care Providers

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Byron Talmadge Infinger

M&A in the Food and Beverage Industry, Part I: What You Need to Know About Due Diligence and Its Impact on Acquisition Agreement Provisions

The food and beverage industry is booming and presents numerous attractive opportunities for acquisitions, investments and other strategic transactions. Whether a transaction involves the acquisition of a more mature brand…more

Acquisition Agreements, Acquisitions, Beverage Manufacturers, Contract Negotiations, Contract Terms

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Peter Isajiw

SEC Adopts Rules Requiring Certain Trading Entities, Including Certain Investment Advisers and Private Funds, to Register as Broker-Dealers

Section 3(a)(5) of the Securities Exchange Act of 1934, as amended (the “Securities Exchange Act”) defines a “dealer” as “any person engaged in the business of buying and selling securities […] for such person’s own account…more

Anti-Avoidance, Broker-Dealer, Investment Adviser, Liquidity, New Rules

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Nabil Issa

Amendments to the Saudi Labor Law

On 6 August 2024, the Council of Ministers approved amendments to the Kingdom of Saudi Arabia (“KSA”) Labor Law and its Implementing Regulations. These will come into force on 19 February 2025, 180 days after being published in…more

Compliance, Employee Benefits, Employee Training, Employment Contract, Federal Labor Laws

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Katrina Jackson

American Privacy Rights Act of 2024 Insights

In April, House Committee on Energy and Commerce Chair Cathy McMorris Rodgers (R-WA) and Senate Committee on Commerce, Science and Transportation Chair Maria Cantwell (D-WA) introduced the American Privacy Rights Act of 2024…more

Consumer Privacy Rights, Data Privacy, Data Protection, Data Protection Acts, Legislative Agendas

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Travis Jackson

HRSA Implements Administrative Dispute Resolution Process for 340B Program

On December 10, 2020, HRSA issued a final rule (the Final Rule) implementing the 340B Drug Pricing Program administrative dispute resolution (ADR) process–an overdue mandate from the Affordable Care Act. Under the Final Rule,…more

Affordable Care Act, Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Dispute Resolution, Federal Rules of Civil Procedure

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Michelle Jacob

Prosecutors Using FIRREA to Investigate Pandemic Conduct

The Financial Institutions Reform, Recovery and Enforcement Act of 1989 (“FIRREA”) is a powerful tool in the prosecutorial arsenal. Due to its long statute of limitations, expansive penalty provision, and low civil burden of…more

CARES Act, Civil Monetary Penalty, CMBS, Coronavirus/COVID-19, Department of Justice (DOJ)

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Ava Jacobi

Strategic Alternatives for Real Estate Portfolios Part II - Repositioning of the Portfolio

The review of strategic alternatives can be a daunting task even for the most seasoned executives and directors of real estate companies and real estate investment trusts. This is particularly true in today’s real estate…more

Real Estate Market, REIT, Tax Structuring

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Gregg Jacobson

How Smart Contracts Can Streamline Capital Projects

When the discussions are finished, the negotiations are concluded, and the contract is signed, the real work begins on a capital project. Thousands of cubic yards of concrete, miles of wiring and pipe, and tons of steel—all of…more

Blockchain, Capital Investments, Construction Contracts, Construction Project, Contract Formation

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Matthew Jacobson

Initial Coin Offerings in the United Arab Emirates

Background - Against the backdrop of the increasing prominence of cryptocurrencies globally, initial coin offerings or ICOs are becoming commensurately popular as a capital raising method. ICOs, essentially a method of…more

Blockchain, Capital Raising, Crowdfunding, Cryptocurrency, Initial Coin Offering (ICOs)

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Laurent Jaeger

Paris Court of Appeal Addresses Constitution of Tribunal in OIC Investment Arbitration

On March 23, 2021, the Paris Court of Appeal issued a decision with important ramifications for investors pursuing arbitration under the Agreement for the Promotion, Protection and Guarantee of Investments Among Member States of…more

Appeals, Arbitration, Arbitrators, Foreign Tribunals, International Arbitration

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Andrew James

And So it Begins: What Recent Announcements Mean for the Future of LIBOR

On March 5, 2021, the ICE Benchmark Administration (the “IBA”) issued feedback that it had completed the consultation with LIBOR panel banks that it began in December 2020, and stated that it will be unable to publish certain…more

Alternative Reference Rates Committee (ARRC), Financial Conduct Authority (FCA), ICE Benchmark Administration (IBA), ISDA, Libor

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J. Hillyer Jennings

The Rise of Crypto SPACs

Digital assets and special purpose acquisition companies (“SPACs”) have been two of the hottest topics in the financial world over the past few years, and, unsurprisingly, the topics overlap with increasing frequency. We have…more

Acquisition Agreements, Cryptocurrency, Digital Assets, Disclosure Requirements, Initial Public Offering (IPO)

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Mark Jensen

Reconsider That Term Sheet: DOJ "Safe Harbor Policy" Announcement Incentivizes Merger-Related Disclosures

On October 4, 2023, the Department of Justice’s (“DOJ”) Deputy Attorney General Lisa Monaco announced a new “Mergers & Acquisitions Safe Harbor Policy” (“M&A Safe Harbor Policy” or “Policy”) for companies that voluntarily…more

Acquisitions, Corporate Misconduct, Department of Justice (DOJ), Disclosure, Disgorgement

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Jason de Jesus

FTC Finalizes Amendments to Health Breach Notification Rule Aimed at Clarifying its Application to Health Applications and Similar Technologies

On April 26, 2024, the Federal Trade Commission (FTC) released a pre-publication version of its final changes to the Health Breach Notification Rule (HBNR) designed to clarify the scope of the HBNR, including its coverage of…more

Breach Notification Rule, Data Breach, Federal Trade Commission (FTC), Final Rules, Health Insurance Portability and Accountability Act (HIPAA)

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Mickey Jett

The Airline Industry and the CARES Act: What Secured Lenders Need to Know

Since its enactment, aviation related companies have received well over $50 billion in grants and loans under the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) that was passed in March 2020. But how do…more

Aviation Industry, Bankruptcy Code, CARES Act, Coronavirus/COVID-19, Loan Forgiveness

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Christopher Jew

CMS Issues CY 2025 Physician Fee Schedule Proposed Rule

On July 10, 2024, CMS issued a proposed rule that identifies and seeks public comments on a broad array of proposed changes to the Medicare Physician Fee Schedule (PFS) and Medicare Part B payments (the Proposed Rule) for…more

Centers for Medicare & Medicaid Services (CMS), Hospitals, Medicare, Medicare Part B, Mental Health

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Nikesh Jindal

Loper Bright v. Raimondo

U.S. Supreme Court overrules Chevron and restores courts’ obligation to exercise independent judgment - On June 28, 2024, in one of the last decisions of the Term, the U.S. Supreme Court issued its long-awaited decision in…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Constitutional Challenges, Government Agencies

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Patricia Jo

FINRA Proposes Expansion of Safe Harbor in Cases of Suspected Financial Exploitation

Thwarting the financial exploitation of seniors and other vulnerable investors has been an increasing focus of several financial regulators in recent years, including the Financial Industry Regulatory Authority (“FINRA”). In…more

Exploitation, Financial Industry Regulatory Authority (FINRA), Proposed Amendments, Retail Investors, Safe Harbors

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Stephen John

A Guide to UK Tax on Commercial Real Estate: Non-Residents

1. Introduction - This client alert provides a summary of key UK tax considerations when a nonresident invests into UK commercial real estate. There are a number of holding structures for investment into UK real estate by…more

Commercial Real Estate Market, Diverted Profits Tax, Foreign Tax, Limited Liability Company (LLC), Limited Partnerships

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Rebecca Johns

Searching for the Reasonable Consumer

Every state prohibits the use of false or misleading advertising on food labeling. In many food false advertising cases, the battleground is whether the “reasonable consumer” would be deceived by the challenged label statement,…more

Appeals, False Statements, Food Labeling, Motion to Dismiss, Omissions

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Ariana Lynn Johnson

Supreme Court Denies “Safe Harbor” Protection for Transfers Where Financial Institutions Are Mere Conduits

On February 27, 2018, the Supreme Court issued a unanimous decision in Merit Management Group, LP v. FTI Consulting, Inc., holding that the “safe harbor” encompassed in Section 546(e) of the Bankruptcy Code does not protect…more

Bankruptcy Code, Financial Institutions, Safe Harbors, SCOTUS, Section 546(e)

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Dixie Johnson

Request for Comments on FinCEN and SEC rule on CIP

The SEC and FinCEN Request Comments on their Proposed Rule on Customer Identification Programs for Registered Investment Advisers and Exempt Reporting Advisers - The Securities and Exchange Commission (“SEC”) and the Financial…more

AML/CFT, Bank Secrecy Act, Customer Due Diligence (CDD), Customer Identification Program (CIP), Exempt Reporting Advisers (ERAs)

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Stephanie Johnson

United States District Court in Florida Holds False Claims Act Qui Tam Provision Unconstitutional

On September 30, 2024, a federal district court in Florida held the qui tam enforcement provision of the False Claims Act (“FCA”), which permits private citizens to pursue actions in the name of and on behalf of the government,…more

Appointments Clause, Article II, False Claims Act (FCA), Federal Rules of Civil Procedure, Florida

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William Johnson

SEC Adopts Final Cybersecurity Disclosure Rules

On July 26, 2023, the U.S. Securities and Exchange Commission (the “Commission”) adopted final rules on cybersecurity risk management, strategy, governance, and incident disclosure by a split vote of 3-2. While the Commission…more

Cyber Incident Reporting, Cybersecurity, Disclosure Requirements, Final Rules, Publicly-Traded Companies

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C. Spencer Johnson III

Fifth Circuit Vacates Private Fund Adviser Rules

On Wednesday, the U.S. Court of Appeals for the Fifth Circuit (the “court”) held that the Securities and Exchange Commission (“Commission”) exceeded its statutory authority when it adopted the Private Fund Adviser Rules (“PFAR”)…more

Certiorari, En Banc Review, Investment Adviser, Judicial Review, Pending Litigation

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Michael Johnston

Biden Administration Unveils New COVID-19 Vaccination and Testing Requirements for Large Businesses and Healthcare Workers

On November 4, 2021, the Biden administration published two new rules governing employers with 100 or more employees and healthcare workers at hospitals, nursing homes and other facilities that participate in Medicare and…more

Biden Administration, Coronavirus/COVID-19, Employer Mandates, Executive Orders, Healthcare Workers

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Russell Johnston

Mid-Year Report: FINRA Enforcement Builds Momentum After Historic Penalties

After collecting near-record amounts in fines, restitution, and disgorgement in 2021 – which included a $70 million monetary penalty against a financial institution in a single action – FINRA continues to raise the bar on…more

Conflicts of Interest, Customer Protection Rule, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA)

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Benjamin Jones

Big Data and Bigger Disputes? How New Data Technologies Impact Construction Disputes

The last decade has seen the emergence of Big Data platforms allowing parties to major construction projects to digitize and integrate more and more of the engineering, design and build phase of their projects. Such…more

Audits, Big Data, Construction Disputes, Contractors, Engineering

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Flora Jones

Quantum Quarterly – Issue 12 – 4 Quarter 2020

Claimant is an Australian joint venture between Chile’s Antofagasta plc and Canada’s Barrick Gold Corporation. In 2006, Claimant became a party to a joint venture agreement between it and the Government of Balochistan with the…more

Arbitration, Burden of Proof, Causation, Compensation, Contributory Negligence

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Jason Jones

DOJ Issues Guidance for Evaluating a Business Organization's Inability to Pay a Criminal Fine or Penalty

On October 8, 2019, Assistant Attorney General Brian A. Benczkowski issued a memorandum to the Criminal Division of the U.S. Department of Justice (“DOJ” or “the Department”) that established a framework for assessing assertions…more

Civil Monetary Penalty, Corporate Criminal Fines, Corporate Fines, Department of Justice (DOJ), Federal Sentencing Guidelines

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Lewis Jones

Federal Court Vacates Key Clean Water Act Nationwide Permit

U.S. Army Corps of Engineers Enjoined from Using NWP 12 to Authorize “Utility Line Activities” in Jurisdictional Waters - On April 15, 2020, a federal district court in Montana invalidated the United States Army Corps of…more

Clean Water Act, Endangered Species Act (ESA), NEPA, US Army Corps of Engineers

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Rose Jones

President Biden's Executive Order on AI - Legal Practice Snapshots

On October 30, 2023, President Biden published a landmark Executive Order regarding the use of Artificial Intelligence (“AI”) with an accompanying Fact Sheet, touching on the opportunities these systems present along with their…more

Antitrust Division, Artificial Intelligence, Biden Administration, Cybersecurity, Data Privacy

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Stephen Jones

USTR Announces Next Steps On Proposed 10 Percent Tariff On Imports From China

Tariffs To Be Effective On September 1, 2019 For Some Products And December 15, 2019 For Others; Certain Products Will Not Be Subject To Additional Tariffs; Product Exclusion Process To Be Implemented. …more

China, Imports, Tariffs, Trump Administration, US Trade Policies

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Benjamin Jordan

FTC’s Amended Safeguards Rule Creates Unique Dilemma for Certain Organizations Who Have Experienced a Data Breach

On May 13, 2024, the FTC’s new rule (the “Rule”) requiring certain financial institutions to report cyber incidents to the Commission will go into effect. The Rule, which is an amendment to the Gramm-Leach-Bliley Act (GLBA)…more

Data Breach, Federal Trade Commission (FTC), Financial Institutions, Gramm-Leach-Blilely Act, Mortgage Brokers

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Jonathan Jordan

The 2024 UAE Financial Restructuring and Bankruptcy Law: What is New?

On 31 October 2023, Federal Law Decree No. (51) concerning Financial Restructuring and Bankruptcy (the New Law) was published in the UAE Federal Gazette. The New Law comes into force on 1 May 2024 and will repeal the 2016 Law on…more

Automatic Stay, Bankruptcy Court, Bankruptcy Trustees, Commercial Bankruptcy, Creditors

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Jennifer Josefson

Energy Newsletter - August 2019

Significant Changes to FERC’s Rules for Market-Based Rate Sellers - On July 18, 2019, the Federal Energy Regulatory Commission (“FERC”) issued two orders modifying its rules for sellers to obtain or retain authorization to…more

Energy Sector, FERC, Intercreditor Agreements, ISO/RTO, Latin America

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Hervé Jouanjean

The EU Regulation on Foreign Subsidies is published – What does it target and what does it involve for companies?

On 23 December 2022, the new EU Foreign Subsidies Regulation (“FSR”)1 was published in the Official Journal of the EU. The FSR aims at tackling the distortions to the EU internal market caused by subsidies granted by non-EU…more

Disclosure Requirements, EU, European Commission, Foreign Subsidies, New Regulations

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W. Austin Jowers

Sponsor Debt Purchases as Affiliated Lenders

In response to changes in the marketplace, it’s possible that borrowers will employ debt buybacks as a way to ease their overall net leverage levels (either as a means to cure financial covenant defaults resulting from the…more

Credit Agreements, Financial Institutions, Financial Services Industry, Financial Sponsors, Lenders

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Charles Julien

Brexit Trade Audit: A Five-Step Guide to Help Determine the Way Forward

Companies doing business in the UK or from the UK should be looking to “future-proof” their operations following the UK’s recent vote to leave the European Union. A Brexit audit is one way of determining the possible impact of…more

Audits, EU, Goods or Services, Imports, Member State

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R. Jacob Jumbeck

Neiman Marcus and The Fiduciary Duties of Creditors’ Committee Members

Creditors who are members of an official committee of unsecured creditors in a bankruptcy owe fiduciary duties to other unsecured creditors and to other committee members. In this article on the Neiman Marcus bankruptcy, the…more

Chapter 11, Committee Members, Creditors, Fiduciary Duty, Fraud

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Daniel Kahan

House Passes FIT21 – What does it say, and what does it mean for digital asset providers?

On, May 22, 2024, the U.S. House of Representatives passed H.R. 4763, Financial Innovation for Technology for the 21st Century Act (“FIT21”). The legislation was touted by the House Financial Services Committee’s Chairman,…more

Blockchain, CFTC, Digital Assets, Disclosure Requirements, Enforcement

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Rania Kajan

FDA Warns That Most Hair Smoothing or Straightening Products Release Formaldehyde Gas During the Hair Straightening or Smoothing Process

On March 2, 2021, the U.S. Food & Drug Administration (“FDA”) issued a consumer update in the form of a “what you should know” regarding formaldehyde in hair smoothing or straightening products, such as keratin treatments. FDA…more

Environmental Protection Agency (EPA), Food and Drug Administration (FDA), OSHA, Toxic Chemicals, Warning Labels

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Mikhail Kalinin

8 Key Business Takeaways From Russia’s War

Economic ripples of Russia’s invasion of Ukraine will permeate the financial, energy, retail, and agricultural sectors, among others. (A link to a related King & Spalding webinar is located here.) While the full effects of the…more

Bilateral Investment Treaties, China, Economic Sanctions, Foreign Assets, Imports

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Barry Kamar

New Data Center Validated End User Program Creates Pathway to Export Advanced U.S. Technology; Rigorous Review and Vetting Required

Effective October 2, 2024, the U.S. Department of Commerce, Bureau of Industry and Security (BIS), amended the Export Administration Regulations (EAR), 15 C.F.R. Parts 730 – 774, to expand the Validated End User (VEU)…more

Bureau of Industry and Security (BIS), Cybersecurity, Data Centers, ECCNs, Export Administration Regulations (EAR)

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Joshua Kamin

Energy Newsletter - May 2018

Courts Hold Clean Water Act Regulates Discharges through Groundwater, as Congress and Regulators Consider Responses - The Ninth Circuit and Fourth Circuit have joined a growing number of lower courts finding that the Clean…more

Clean Water Act, Energy Sector, Greenhouse Gas Emissions, Groundwater, Infrastructure

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Rizwan Kanji

Private Over Public? An Emerging Markets Perspective

The private placement of debt securities, compared to the more common public issuances, has grown in popularity in recent years, particularly in emerging markets such as those in the Middle East. Whilst there is little publicly…more

Capital Markets, Debt Securities, Disclosure Requirements, Emerging Markets, Institutional Investors

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Gilbert Kaplan

ITC Section 337 Update – August 2016

DeLorme Seeks Certiorari Review Of Consent Order Penalty Based On Expired Patent — On July 13, 2016, DBN Holding, Inc. and BDN LLC (“DeLorme”) filed a petition for writ of certiorari to review a judgment of the United States…more

Anti-Dumping Duty, Appeals, Component Parts Doctrine, Consent Order, Countervailing Duties

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Adrian Karas

Impact of the Coronavirus Disease 2019 (COVID-19) on Public and Private Securities Offerings

The rapidly developing news on the spread of the Coronavirus Disease 2019 (“COVID-19”) in the United States and other nations across the world has resulted in significant turmoil in global financial markets, bringing renewed…more

Business Continuity Plans, Coronavirus/COVID-19, Corporate Issuers, Due Diligence, Economic Downturn

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Nikolai Karetnyi

Energy Newsletter - February 2020

U.S. Government’s Continued Focus on Large Ship Air Emissions - The U.S. Environmental Protection Agency (“EPA”) and the U.S. Coast Guard (“USCG”) continue to signal interest in addressing air pollution from large ships and…more

Air Pollution, Air Quality Standards, Carbon Emissions, Energy Sector, Environmental Policies

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Kate Karpenko

CMS Issues Hospice Proposed Payment Rule

Last week, CMS issued a proposed rule (Proposed Rule) for fiscal year (FY) 2025 aiming to update Medicare hospice payments and aggregate cap amount in accordance with existing statutory and regulatory requirements. The Proposed…more

Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Healthcare, Hospice, Medicare

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Sheryl Kass

Washington Insight - September 2016

House Financial Services Committee Votes To Repeal And Replace Dodd-Frank - On September 13th, the House Financial Services Committee approved the Financial CHOICE Act of 2016 to repeal and replace key parts of the 2010…more

Broker-Dealer, Class Action, Commercial Real Estate Market, Consumer Financial Protection Bureau (CFPB), Cyber Threats

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Allison Kassir

A Brief Overview of the Federal Rulemaking Process in the United States

Since the enactment of the Inflation Reduction Act of 2022 (the “IRA”) in the United States, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) have issued notices of proposed regulations…more

Administrative Procedure Act, Congressional Review Act, Department of Energy (DOE), Department of Labor (DOL), GAO

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Charles Katz

2023 M&A Outlook: Recapping Key Takeaways from Dealmaking in 2022 and Navigating New Challenges

Coming off record-setting levels in 2021, M&A deal activity cooled in the second half of 2022. A multitude of factors – including soaring inflation, steadily rising interest rates and the higher cost of financing, geopolitical…more

Acquisitions, Borrowers, Corporate Counsel, Department of Justice (DOJ), Domestic Dealmaking

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Rebecca Kaufman

COVID-19 – Take Action Now to Protect Intellectual Property Rights During Bankruptcy

It is no secret that the outbreak of the coronavirus has caused untold damage, distress, and dislocation to the worldwide economy, leading many companies to consider their respective restructuring options. Given the current…more

Appeals, Chapter 11, Coronavirus/COVID-19, Filing Deadlines, Filing Requirements

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Dr. Sebastian Kaufmann

Nachhaltige Finanzierungen (Sustainable Finance) in der Kreditwirtschaft

Das Thema nachhaltige Finanzierung (Sustainable Finance) nimmt weiter an Fahrt auf und steht Anfang 2021 erneut im Fokus: diesseits des Atlantiks ist zum 10. März 2021 die EU-Offenlegungsverordnung in Kraft getreten, nach der…more

Banking Sector, Capital Requirements Directive IV (CRDIV), Capital Requirements Regulation (CRR), Climate Action Plan, Climate Change

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Krishna Kavi

2019 Year in Review: FDA Office of Prescription Drug Promotion

In 2019, the U.S. Food and Drug Administration’s (FDA) Office of Prescription Drug Promotion (OPDP) issued a total of ten enforcement letters targeting advertising and promotion violations for prescription drugs. Of the ten…more

Food and Drug Administration (FDA), Manufacturers, Off-Label Promotion, OPDP, Pharmaceutical Industry

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Brandon Keel

ESG and Securities Litigation

Recent Trends Show Increased Focus on Allegations of "Greenwashing" Over the past few years, regulators, businesses, and the market in general have become increasingly focused on environmental, social, and governance (“ESG”)…more

Climate Change, Disclosure Requirements, Diversity, Enforcement Actions, Environmental Social & Governance (ESG)

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Robert Keenan III

Fifth Circuit Vacates Private Fund Adviser Rules

On Wednesday, the U.S. Court of Appeals for the Fifth Circuit (the “court”) held that the Securities and Exchange Commission (“Commission”) exceeded its statutory authority when it adopted the Private Fund Adviser Rules (“PFAR”)…more

Certiorari, En Banc Review, Investment Adviser, Judicial Review, Pending Litigation

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Edward Kehoe

Key Business and Human Rights Issues for 2021

Business and human rights will continue to receive significant attention and development in 2021. Take a look at what is on the horizon . . . COVID-19: Vaccines are being administered in some countries but COVID-19 will…more

Child Labor, Climate Change, Contact Tracing, Coronavirus/COVID-19, Employee Privacy Rights

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Thomas Keim, Jr.

The Insider: Key Developments for Chief Legal Officers and Corporate Legal Teams

Welcome to the inaugural issue of The Insider. This new publication from King & Spalding’s Public Companies Practice, which will be produced periodically, is focused on key developments for chief legal officers and their…more

Attorney-Client Privilege, D&O Insurance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Duty to Monitor

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Jill Keller Hengen

Georgia Results Flip the Senate and Will Lead to More Congressional Investigations

With the majority in both the U.S. House and Senate, Democrats are poised to chair powerful investigative committees in the 117th Congress - With the victories of Raphael Warnock over incumbent Kelly Loeffler, and Jon…more

Anti-Competitive, Congressional Investigations & Hearings, Coronavirus/COVID-19, Diversity, Energy Sector

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Mark Kelly

Compensation and Benefits Insights – August 2019

Multiple Employer Plans: Proposed IRS Regulations Eliminate the “One Bad Apple” Rule - A multiple employer plan (MEP) is a tax qualified retirement plan that is maintained by two or more employers who are not part of the…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions

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P. Sean Kelly

SEC Adopts Rules Requiring Certain Trading Entities, Including Certain Investment Advisers and Private Funds, to Register as Broker-Dealers

Section 3(a)(5) of the Securities Exchange Act of 1934, as amended (the “Securities Exchange Act”) defines a “dealer” as “any person engaged in the business of buying and selling securities […] for such person’s own account…more

Anti-Avoidance, Broker-Dealer, Investment Adviser, Liquidity, New Rules

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Christopher Kenny

House Republicans Intend to Tie GME Training Funds to Ban Gender Affirming Care

House Republicans have announced their intent to cut federal funding for training new pediatricians to hospitals that perform gender-affirming care on minors. The proposed bill, sponsored by Rep. Dan Crenshaw (R-Texas), would…more

Children's Hospital, Federal Funding

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Zachary Kewer

COVID-19: Permissible And Impermissible Procedures For When Employees Return To The Workplace

As states begin contemplating ways to ease shelter in place restrictions and how to facilitate employees returning to work, employers are faced with developing and implementing new policies and procedures to effectively…more

Americans with Disabilities Act (ADA), Coronavirus/COVID-19, Employer Liability Issues, Equal Employment Opportunity Commission (EEOC)

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Elizabeth Kimball Key

CMS Publishes FY 2025 Inpatient Psychiatric Facilities Prospective Payment System and Quality Reporting Updates Final Rule

On July 31, 2024, CMS published a final rule updating the Medicare rates and policies applicable to inpatient psychiatric facilities (IPFs) under the IPF Prospective Payment System (PPS) and the IPF Quality Reporting Program…more

Centers for Medicare & Medicaid Services (CMS), Consolidated Appropriations Act (CAA), Final Rules, Inpatient Prospective Payment System (IPPS), Inpatient Quality Reporting

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Amanda Hayes-Kibreab

Agencies Issue Informal No Surprises Act IDR Guidance on Batching and Air Ambulance Disputes

On November 28, 2023, the Departments of Health and Human Services, Labor, and the Treasury (the Departments) issued two sets of FAQs on aspects of the No Surprises Act (NSA) Independent Dispute Resolution Process (IDR Process)…more

Ambulance Providers, Dispute Resolution, Interim Final Rules (IFR), New Guidance, No Surprises Act (NSA)

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David Kiefer

Energy Newsletter - March 2019

Texas Supreme Court Finds Anadarko is Entitled to Over $100 Million in Deepwater Horizon Defense Costs Based on Undefined Term in Insurance Policy - Insurance coverage litigation arising out of the 2010 Deepwater Horizon…more

Arbitration, Clean Water Act, Construction Disputes, Construction Industry, Deepwater Horizon

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Albert Kim

FTC and DOJ Issue New Merger Guidelines

On December 18, 2023, the U.S. antitrust enforcers, the Federal Trade Commission (“FTC”) and the Antitrust Division of the Department of Justice (“DOJ”) (collectively, the “Agencies”), issued their final Merger Guidelines…more

Acquisitions, Anti-Competitive, Antitrust Provisions, Department of Justice (DOJ), Enforcement

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J. Sharon Kim

Beneficial Ownership Information Reporting Rule Requires Millions of Entities to Report Certain Information to FinCEN Effective January 1, 2024

On March 24, 2023, Financial Crimes Enforcement Network (“FinCEN”), a bureau of the U.S. Department of the Treasury, released its guidance materials on its final rule (the “Rule”) establishing beneficial ownership information…more

Beneficial Owner, Corporate Transparency Act, Department of Transportation (DOT), Final Rules, FinCEN

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Taeyeong Kim

New York Court Dismisses Co-Lender’s Claim Against Borrower and Other Lenders Based on Default Waivers

On January 25, 2024, a New York trial court dismissed a claim brought by one lender/participant in a $200 million syndicated loan against the borrower, other lenders, and the loan originator and servicer. The plaintiff alleged…more

Borrowers, Dismissals, Injunctive Relief, Lenders, Loan Agreements

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Justin King

2023 M&A Outlook: Recapping Key Takeaways from Dealmaking in 2022 and Navigating New Challenges

Coming off record-setting levels in 2021, M&A deal activity cooled in the second half of 2022. A multitude of factors – including soaring inflation, steadily rising interest rates and the higher cost of financing, geopolitical…more

Acquisitions, Borrowers, Corporate Counsel, Department of Justice (DOJ), Domestic Dealmaking

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Charity Kirby

No Deal Brexit: Impact on Cross-Border Civil and Commercial Litigation

On 13 September 2018, the UK Government published a guidance note setting out the implications that a “no deal” Brexit would have on civil and commercial disputes and cross-border insolvencies in England and Wales. Civil and…more

Cross-Border, EU, Member State, UK, UK Brexit

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Katherine Kirkpatrick

FinCEN Requests Comments on Beneficial Ownership Reporting Requirement; FinCEN’s Request For Information Moves U.S. Towards Modernization Of BSA/AML Regime

The United States Department of the Treasury (“Treasury”) is taking further action to combat corruption, money laundering, terrorist financing, tax fraud, and other illicit activities. Following its Advance Notice of…more

Bank Secrecy Act, Beneficial Owner, BSA/AML, Corporate Transparency Act, Corruption

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Livia Kiser

Illinois BIPA Reform Takes Effect

The long-awaited amendment provides immediate relief to corporate defendants from business-destroying liability - On August 2, 2024, Senate Bill 2979 went into effect limiting available damages under Illinois’ Biometric…more

Biometric Information, Biometric Information Privacy Act, Class Action, Data Collection, Data Privacy

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Madison Kitchens

Court Certifies Class Despite Plaintiff’s Admission that She Consistently Purchased the Product Years Before the Allegedly Misleading “0g Trans Fat” Claim Was Added to the Label

On November 9, 2020, Judge Jeffrey Miller of the Southern District of California certified a class of California citizens alleging that Kroger violated various California consumer protection laws by mislabeling its breadcrumbs…more

Class Certification, False Advertising, Food Labeling, Nutrition Facts Labels, Predominance Requirement

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Amanda Klingler

DEA's Proposed Rule to Reschedule Marijuana Could Reduce Obstacles to Medical Research but Public Input Is Needed to Fill in Knowledge Gaps

On May 16, 2024, the U.S. Drug Enforcement Administration (“DEA”) issued a Notice of Proposed Rulemaking (“NPRM”) to reclassify marijuana from Schedule I to Schedule III under the federal Controlled Substances Act (“CSA”) and…more

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Thomas Knox

New Flexibilities Enacted in Paycheck Protection Program (PPP)

On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act, H.R. 7010 (P.L. 116-142). While this law does not add any new funding to the Small Business Administration (SBA) Paycheck…more

Borrowers, CARES Act, Coronavirus/COVID-19, Interim Final Rules (IFR), Loan Forgiveness

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M. Alexander Koch

Financial Services Regulation in the Post-Jarkesy World

On June 27, 2024, the U.S. Supreme Court issued its opinion in Securities and Exchange Commission v. Jarkesy. By a 6-3 vote, the Supreme Court affirmed the Fifth Circuit’s ruling, holding that the Seventh Amendment prohibits the…more

Administrative Agencies, Administrative Law Judge (ALJ), FDIC, Financial Services Industry, NCUA

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Blythe Golay Kochsiek

U.S. Department of Justice Issues New Guidance on the Use and Selection of Corporate Monitors in Criminal Cases

Just three months into the job, Brian Benczkowski, the head of the U.S. Department of Justice’s criminal division, has issued a memorandum entitled “Selection of Monitors in Criminal Division Matters,” providing new guidance on…more

Corporate Monitoring, Department of Justice (DOJ), Government Investigations

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Vinay Kohli

Ninth Circuit Holds That Medical Opinions Do Not Automatically Preclude FCA Liability at the Pleading Stage

In late March, the United States Court of Appeals for the Ninth Circuit revived a whistleblower lawsuit under the False Claims Act (FCA) in which a former employee accused a healthcare provider of submitting reimbursement claims…more

False Claims Act (FCA), Fraud, Health Care Providers, Healthcare Facilities, Healthcare Fraud

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Elisabeth Kohoutek

EU Aims for Ban of PFAS. Now is the Time to Act.

Earlier this year, the European Chemicals Agency (ECHA) published a proposal for a ban on the production, use and placing on the market (including import) of at least 10,000 per- and polyfluoroalkyl substances (PFAS). Companies…more

Drug Approvals, ECHA, EU, European Commission, Federal Bans

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Julia Kolibachuk

Federal Circuit Continues Trend of Finding Diagnostic Inventions to Be Patent-Ineligible

On August 9, 2019, the Federal Circuit issued a public opinion in Genetic Veterinary Sciences, Inc. v. LABOKLIN GmbH & Co. KG, finding claims directed to methods for detecting a genetic marker for a canine hereditary disease to…more

Alice Corporation, Corporate Counsel, Diagnostic Method, Diagnostic Tests, DNA

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George Komnenos

CFPB's New Small Business Data Collection Rule

A recent rule (12 CFR Part 1002, the “Rule”) issued in final form by the Consumer Financial Protection Bureau (the “CFPB”) earlier this year imposes a host of data collection and reporting obligations on lenders to small…more

Compliance, Consumer Financial Protection Bureau (CFPB), Consumer Protection Act, Data Collection, Dodd-Frank

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Sergey Komolov

Russian Duma Approves Draft Law on Countersanctions

On May 22, 2018 Russia’s State Duma (the lower house of parliament) passed the third and final reading of the draft law "On measures to influence (counteract) the unfriendly actions of the United States of America and (or) other…more

Economic Sanctions, Exports, Imports, Russia

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Lauren Konczos

Corporate Transparency Act: Entities That No Longer Exist May Need to File BOI Reports According to New FinCEN FAQs

Since January 1, 2024, when the Corporate Transparency Act’s (“CTA”) beneficial ownership reporting requirements became effective, a key issue has been whether companies that meet the requirements of a “reporting company” are…more

Beneficial Owner, Business Ownership, Corporate Transparency Act, Filing Deadlines, Filing Requirements

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Aleksandra Kopec

Avoiding an Ambiguous Hold Harmless Clause: What Every Lender Should Consider

Lenders rely on indemnification and hold harmless provisions in commitment and engagement letters to protect against claims that may be brought not only by third parties but by borrowers and their affiliates as well. Such…more

Ambiguous, Commitment Letter, Damages, Engagement Letters, Hold Harmless

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Evan Korngold

IRS Rules that Oil and Gas Infrastructure Assets Yield Good REIT Income

On February 15, 2019, the Internal Revenue Service (the “IRS”) released PLR 201907001 (the “Ruling”), a private letter ruling addressing whether certain income related to the leasing of an oil and gas platform, selling of…more

Capital Assets, Corporate Counsel, Equipment Lease, Internal Revenue Code (IRC), IRS

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Brianna Kostecka

Best Practices for Conducting Arbitration Hearings Remotely

If you reside on the East Coast of the United States, in the span of twenty years, you have lived through a devastating terrorist attack, a once-in-a-century Super Storm, and now, a global coronavirus pandemic. Each of these…more

Arbitration, Arbitrators, Coronavirus/COVID-19, Dispute Resolution, Remote Working

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Ilan Kotkis

No Deal Brexit: Impact on Cross-Border Civil and Commercial Litigation

On 13 September 2018, the UK Government published a guidance note setting out the implications that a “no deal” Brexit would have on civil and commercial disputes and cross-border insolvencies in England and Wales. Civil and…more

Cross-Border, EU, Member State, UK, UK Brexit

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Yelena Kotlarsky

FTC Proposes Stricter Children’s Privacy Rules in First COPPA Update since 2013

On December 20, 2023, the Federal Trade Commission (FTC) announced proposed revisions to its rules administering the Children’s Online Privacy Protection Act (COPPA). The updates both expand the universe of businesses subject to…more

Biometric Information, COPPA, Cybersecurity, Data Collection, Data Privacy

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Nick Kouvaritakis

Energy Newsletter - April 2017

Navigating Private Equity Fund Limitations for Energy Infrastructure-Focused Investments - Energy infrastructure funds have emerged as a class of funds that offer investors the potential for long-term stable returns, as well…more

Argentina, Bankruptcy Court, Energy Sector, Infrastructure, Keystone XL Pipeline

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Gabriel Krimm

He Actually Did It: Trump Administration Implements Medicare Part B “Most Favored Nation” Drug Pricing Reform

On November 20, 2020, 60 days before the end of his Administration, President Trump announced a series of major drug pricing regulations. This Alert summarizes the Most Favored Nation Model (“MFN Model”) for Medicare Part B…more

Administrative Procedure Act, Advanced Notice of Proposed Rulemaking (ANPRM), Affordable Care Act, Anti-Kickback Statute, Centers for Medicare & Medicaid Services (CMS)

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Matthew Krimski

Start Aiming Now: Employers Have One Year Left to Ensure Compliance with The California Privacy Rights Act (CPRA)

Effective January 1, 2023, the California Privacy Rights Act (“CPRA”), will expand the California Consumer Privacy Act (“CCPA”) by granting employees additional rights over their personal information. Employers will now be…more

California, California Privacy Rights Act (CPRA), Corporate Counsel, Data Collection, Employees

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Nicholas Kump

Fifth Circuit Holds District Court Has Jurisdiction to Decide Repayment Amount Owed by HHS to Medicare Provider as an “Effectuation” of Prior Initial Overpayment Determination

On January 3, 2022, the U.S. Court of Appeals for the Fifth Circuit Court reversed the decision of the District Court for the Western District of Louisiana dismissing for lack of jurisdiction a Medicare provider’s suit seeking a…more

Appeals, Department of Health and Human Services (HHS), Jurisdiction, Medicare, Medicare Appeals Council

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Christina Kung

SEC Division of Examinations – 2021 Priorities

On March 3, 2021, the SEC’s Division of Examinations (“Division” or “EXAMS”) published its annual Examination Priorities Report, which identified eight primary areas of focus for Fiscal Year 2021. While many of these priorities…more

Anti-Money Laundering, Broker-Dealer, Coronavirus/COVID-19, Digital Assets, Environmental Social & Governance (ESG)

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Steven Kupka

Energy Newsletter - July 2018

The New Midstream Transactions - A recent trend in the upstream and midstream oil and gas industry is for midstream services providers to offer certain forms of additional compensation to oil and gas lessees / operators…more

Environmental Policies, EU, Imports, Liquid Natural Gas, NEPA

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Michael LaBattaglia

Medicare Finalizes Appeals Process for Reclassified Outpatient Observation Patients

On October 11, 2024, CMS issued a final rule establishing a new appeals process for Medicare beneficiaries who were initially admitted to a hospital as an inpatient but are later reclassified as an outpatient receiving…more

Beneficiaries, Centers for Medicare & Medicaid Services (CMS), Final Rules, Medicare, Medicare Part A

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Carolyn Lachman

Energy Newsletter - June 2018

Lessons for Sellers in Contracting with Emerging Market Buyers: The “Three R’s” to Structuring Payment Security Provisions - The recent rebound in the international energy industry is being driven, at least in part, by a…more

BSEE, Cloud Computing, Energy Policy, Energy Sector, Exports

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Alyssa Ladd

Energy Newsletter - March 2020

Disrupting the Disruptor: How a Prepared and Proactive Owner Can Mitigate the Effects of Coronavirus on Construction Projects - Once a remote health issue in China, the rapidly spreading coronavirus (COVID-19) has become not…more

Construction Project, Coronavirus/COVID-19, Energy Sector, Final Rules, Force Majeure Clause

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David Lang

EU Regulations Restricting Imports of Renewable Natural Gas and Green Hydrogen Derivative Products

The European Commission (EC) is in the process of implementing its “Union database” (UDB) to track all renewable gases and liquid fuels. Gases and fuels, whether produced in the EU or imported, will need to be registered in the…more

Derivatives, EU, European Commission, European Economic Area (EEA), Green Energy

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Marc-Olivier Langlois

Russia’s Recent Actions Against Foreign Investors Will Give Rise to Claims Under International Investment Treaties

Since the Russian Federation’s invasion of Ukraine, more than 400 international companies have announced their intentions to scale back or shut down their business operations in Russia. Russia has responded to the exodus of…more

Bilateral Investment Treaties, Economic Sanctions, Energy Charter Treaty, Foreign Investment, Military Conflict

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Bailey Langner

Contact-Tracing Apps: A Delicate Balancing Act of Workplace Safety and Privacy Rights

As the patchwork of state and local stay-at-home restrictions lighten, organizations are exploring safe return-to-work options, including the use of contact-tracing mobile apps for employees while on company premises. Such a…more

Americans with Disabilities Act (ADA), Applications, Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, COVID-19 Consumer Data Protection Act

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Raphael Larson

PCAOB Division of Enforcement’s First Quarter Continues Record-Setting Pace

The PCAOB’s Division of Enforcement and Investigations’ 2024 first quarter activity continued the blistering pace of enforcement since Erica Williams became the Board’s Chair. While the Board’s first quarter enforcement activity…more

Audits, Civil Monetary Penalty, Enforcement Actions, Investigations, PCAOB

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Carmen Lawrence

Request for Comments on FinCEN and SEC rule on CIP

The SEC and FinCEN Request Comments on their Proposed Rule on Customer Identification Programs for Registered Investment Advisers and Exempt Reporting Advisers - The Securities and Exchange Commission (“SEC”) and the Financial…more

AML/CFT, Bank Secrecy Act, Customer Due Diligence (CDD), Customer Identification Program (CIP), Exempt Reporting Advisers (ERAs)

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Ruxandra Lazar

Energy Newsletter - June 2020

The Impact of COVID-19 on Nuclear Electricity Sales Contracts in France - The electricity sector, like numerous others in France, has been heavily affected by the economic shutdown due to the COVID-19 pandemic. The first…more

Administrative Hearings, Amended Rules, CARB, Climate Change, Commercial Bankruptcy

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Frederick Lazell

Blue Hydrogen and Ammonia: EU’s Rules for Low Carbon Fuels Released for Consultation

On 27 September 2024, the European Commission (“EC”) published draft rules defining “low-carbon hydrogen” and derivative “low-carbon fuels” in the EU (the “Draft Low-Carbon Hydrogen DA”). A public consultation is now open until…more

Carbon Capture and Sequestration, EU, Greenhouse Gas Emissions, Hydrogen Power, Methane

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Sandra Lazorcheck

And So it Begins: What Recent Announcements Mean for the Future of LIBOR

On March 5, 2021, the ICE Benchmark Administration (the “IBA”) issued feedback that it had completed the consultation with LIBOR panel banks that it began in December 2020, and stated that it will be unable to publish certain…more

Alternative Reference Rates Committee (ARRC), Financial Conduct Authority (FCA), ICE Benchmark Administration (IBA), ISDA, Libor

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Jack Leahey

DOJ's Criminal Division Launches Pilot Program on Voluntary Self-Disclosures for Individuals

On April 15, 2024, the Criminal Division of the U.S. Department of Justice (“DOJ”) announced the launch of its Pilot Program on Voluntary Self-Disclosures for Individuals. U.S. Dep’t of Justice, The Criminal Division’s Pilot…more

Corporate Misconduct, Criminal Investigations, Department of Justice (DOJ), Non-Prosecution Agreements, Pilot Programs

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Robert Leclerc

SEC Amends Beneficial Ownership Reporting Requirements

On October 10, 2023, the Securities and Exchange Commission (the “Commission”) adopted final rules amending the beneficial ownership reporting requirements established by the Commission under Sections 13(d) and 13(g) of the…more

Beneficial Owner, Deadlines, Equity Securities, Final Rules, Investors

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Craig Ledet

Thinking Beyond the Dispute Resolution Provision in Construction Disputes

When parties cannot resolve a claim during a major construction project, the contract’s dispute resolution provisions do not always need to read as step-by-step instructions. To the contrary, the situation may warrant a…more

Construction Contracts, Construction Disputes, Construction Industry, Construction Litigation, Construction Project

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Alvin Lee

Supreme Court Issues Landmark Personal Jurisdiction Decision

In 2017, the Supreme Court issued an 8-1 opinion in Bristol-Myers Squibb holding that 592 plaintiffs who took the medication Plavix outside of California could not bring suit in California because personal jurisdiction was…more

Automotive Industry, Bristol-Myers Squibb, Causation, Ford Motor, Ford Motor Co. v Bandemer

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Benjamin Lee

Delaware Chancery Court Issues Precedential Decision Dismissing Claims Challenging “De-SPAC” Merger Disclosures

The Delaware Court of Chancery’s recent decision in In re Hennessy Capital Acquisition Corp. IV Stockholder Litigation,1 marks the Chancery Court’s first total dismissal of a complaint alleging breaches of fiduciary duties in…more

Breach of Duty, Class Action, Conflicts of Interest, Corporate Counsel, Dismissals

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Craig Lee

Regulation S-X Updates and the Pro Forma EBITDA Add-back

On May 21, 2020, the Securities and Exchange Commission (the “SEC”) adopted amendments to the financial disclosure requirements in Regulation S-X (the SEC’s accounting rules for the form and content of financial statements…more

Borrowers, EBITDA, Financial Statements, Lenders, Management Adjustments

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Timothy Lee

Cyberattack and Ransomware Attack Force Majeure Considerations

As criminal cyberattacks and ransomware attacks on critical infrastructure increase, companies may experience significant business disruptions. Ransomware and cyberattacks may prevent companies from fulfilling contractual…more

Business Disruption, Critical Infrastructure Sectors, Cyber Attacks, Cybersecurity, Force Majeure Clause

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Kathryn Lehman

Florida Passes Law Limiting COVID-19 Lawsuits

On Monday, March 29, 2021, Florida Governor Ron DeSantis signed into law a bill that limits COVID-19 liability for Florida health care providers, health care facilities and other businesses. KEY PROVISIONS - Now known as…more

Burden of Proof, Coronavirus/COVID-19, Educational Institutions, Florida, Government Entities

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Brandt Leibe

United States District Court in Florida Holds False Claims Act Qui Tam Provision Unconstitutional

On September 30, 2024, a federal district court in Florida held the qui tam enforcement provision of the False Claims Act (“FCA”), which permits private citizens to pursue actions in the name of and on behalf of the government,…more

Appointments Clause, Article II, False Claims Act (FCA), Federal Rules of Civil Procedure, Florida

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Peter Leininger

Genus Medical Technologies LLC v. FDA: D.C. Circuit Holds FDA Cannot Regulate Devices as Drugs

FDA regulation of biomedical products can be like a very complex game theory decision tree. Choices made at each intersection impact the ultimate regulatory framework under which any given product is developed, seeks approval,…more

En Banc Review, Federal Food Drug and Cosmetic Act (FFDCA), Food and Drug Administration (FDA), Medical Devices, Petition for Writ of Certiorari

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Mario Leissner

BGH erklärt sog. Schriftformheilungsklauseln in Gewerberaummietverträgen für unwirksam

Der für das Gewerberaummietrecht zuständige 12. Zivilsenat des Bundesgerichtshofs („BGH“) hat am 27.09.2017 mit einem Paukenschlag die hier beigefügte Entscheidung verkündet, in welchem er zu der seit einigen Jahren kontrovers…more

Commercial Leases, Germany, Tenants

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Geoffrey Leonard

California Enacts Law Requiring Female Representation on Boards

On September 30, 2018, California Governor Jerry Brown signed into law Senate Bill No. 826 (SB 826). SB 826 adds Sections 301.3 and 2115.5 to the California Corporations Code to require that a publicly held company with a…more

Board of Directors, Diversity, Gender Equity, Woman Board Members

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Val Leppert

Loper Bright v. Raimondo

U.S. Supreme Court overrules Chevron and restores courts’ obligation to exercise independent judgment - On June 28, 2024, in one of the last decisions of the Term, the U.S. Supreme Court issued its long-awaited decision in…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Constitutional Challenges, Government Agencies

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Michael Leslie

Key Recent Developments In Environmental Justice Litigation

Louisiana remains at the forefront of environmental justice activity. In just four days from January 19 to January 23, 2024, two courts in Louisiana offered interpretations to environmental justice efforts in the State of…more

Anti-Discrimination Policies, Appeals, Civil Rights Act, Clean Air Act, Department of Environmental Quality

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David Lesser

American Express Anti-Steering Litigation: Implications for “Umbrella” Plaintiffs’ Standing in Antitrust Suits

On Monday, November 22, 2021, the United States Court of Appeals for the Second Circuit affirmed a district court ruling that “umbrella” plaintiffs—i.e., antitrust class action claimants who purchase from a non-conspirator a…more

American Express, Anti-Steering Rules, Antitrust Injuries, Appeals, Damages

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Amy Levin

Contracting for AI Technologies - Top Five Best Practices

Artificial intelligence (“AI”), including generative AI (“GAI”), has gained significant momentum in recent months due to its potential to transform how organizations create content, automate tasks, and provide personalized…more

Artificial Intelligence, Data Security, Disclosure Requirements, Due Diligence, Intellectual Property Protection

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Neil Levy

Energy Newsletter - August 2019

Significant Changes to FERC’s Rules for Market-Based Rate Sellers - On July 18, 2019, the Federal Energy Regulatory Commission (“FERC”) issued two orders modifying its rules for sellers to obtain or retain authorization to…more

Energy Sector, FERC, Intercreditor Agreements, ISO/RTO, Latin America

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Rupert Lewi

Energy Newsletter - November 2017

Choice of Law in Host Government Agreements - Choice of law stands as the second “pillar” of contract stabilization, together with stabilization clauses and international arbitration. In fact, choice of law provisions…more

Choice-of-Law, Construction Disputes, Energy Sector, FERC, Foreign Investment

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Jennifer Simmen Lewin

Payers Attempt to Impose So-Called “White-Bagging” Policies on Hospitals

Over the past 16 months, three of the nation’s largest commercial payers – UnitedHealthcare, Anthem and CIGNA – have instituted new policies affecting how and whether they will pay for high-cost drugs administered in hospital…more

American Hospital Association, Anthem Insurance, CIGNA, Coronavirus/COVID-19, Food and Drug Administration (FDA)

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Zheyao Li

Compensation and Benefits Insights - August 2018

IRS Issues New 162(m) Guidance - August 21, 2018, the Internal Revenue Service (the “IRS”) issued Notice 2018-68 (the “Notice”) which provides initial guidance and clarification on amendments made to Section 162(m) of the…more

Binding Contractual Rules, Covered Employees, Filing Deadlines, Health and Welfare Plans, IRS

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James Ryan Lichtenfels

FASB Proposes New "Practical Expedient" to Recognition of Initial Franchise Fees (ASC 606)

On September 21, 2020, the Financial Accounting Standards Board (“FASB”) announced a proposed Accounting Standards Update (“ASU”), that if enacted, would provide a “practical expedient”, simplifying the analysis supporting the…more

Accounting Standards, FASB, Franchise Agreements, Franchise Fees, New Guidance

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Stephanie Lim

Energy Newsletter - August 2019

Significant Changes to FERC’s Rules for Market-Based Rate Sellers - On July 18, 2019, the Federal Energy Regulatory Commission (“FERC”) issued two orders modifying its rules for sellers to obtain or retain authorization to…more

Energy Sector, FERC, Intercreditor Agreements, ISO/RTO, Latin America

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U-Glen Lim

US Dollar Term SOFR is Here – Why is This Different and How Does it Affect My Loan?

On July 29th, 2021, the Alternative Rates Reference Committee (the “ARRC”) formally recommended the adoption of CME Group’s forward-looking Secured Overnight Financing Rate (“SOFR”) term rates. According to the ARRC, this…more

Alternative Reference Rates Committee (ARRC), Borrowing Statutes, Financial Conduct Authority (FCA), Lending, Libor

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Elizabeth Lindquist

Pharmaceuticals and Active Pharmaceutical Ingredients - Biden Administration Issues 100-Day Supply Chain Review Report

On June 8, 2021, four Executive Branch Departments issued reports mandated by President Biden’s February 24, 2021 Executive Order on America’s Supply Chains (the “America’s Supply Chains E.O.” or the “E.O.”). The E.O. directed…more

Batteries, Biden Administration, Buy American Act, Defense Production Act, Department of Health and Human Services (HHS)

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Aaron Lipson

Financial Services Regulation in the Post-Jarkesy World

On June 27, 2024, the U.S. Supreme Court issued its opinion in Securities and Exchange Commission v. Jarkesy. By a 6-3 vote, the Supreme Court affirmed the Fifth Circuit’s ruling, holding that the Seventh Amendment prohibits the…more

Administrative Agencies, Administrative Law Judge (ALJ), FDIC, Financial Services Industry, NCUA

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Diana Liu

Cryptocurrency: Legal Developments and Outlook

Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants…more

Anti-Money Laundering, Bitcoin, Bitcoin Mining, Blockchain, CFIUS

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Aloysius Llamzon

Tokyo Dispute Resolution & Crisis Management Newsletter – August 2020 - Mining Arbitration in the Asia-Pacific

The Asia-Pacific region integrates the mining industry within the life cycle of the global economy more fluidly than perhaps anywhere else in the world. Metals and minerals extracted from the region are transported to the…more

Arbitration, Asia Pacific, Contractors, Global Economy, Infrastructure

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Ji Nin Loh

Energy Newsletter - May 2017

Taking the Long View - How Appropriate Foresight Supports the Development and Execution of Large-Cap Construction Projects - Introduction - The arduous, start-to-finish process of developing and constructing a…more

Architects, Construction Industry, Energy Sector, Exports, Oil & Gas

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James Lokey, Jr

IRS and Treasury Issue Proposed Regulations Easing Some of the Burden of the Fractions Rule

Executive Summary On November 22, the Internal Revenue Service (“IRS”) and Treasury Department issued proposed regulations (REG-136978-12, the “Proposed Regulations”) under the “fractions rule” of Section 514(c)(9)(E) of the…more

Internal Revenue Code (IRC), IRS, Proposed Regulation, Taxable Income, U.S. Treasury

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Clinton Long

U.S. Department of Energy Releases Report on Securing America’s Clean Energy Supply Chain

DEPARTMENT OF ENERGY PROPOSES SEVERAL POLICY ACTIONS TO OVERCOME ENERGY SUPPLY CHAIN CHALLENGES AND TRANSITION TO CLEAN ENERGY - This is the second in a series of client alerts that will be published in the near future…more

Batteries, Biden Administration, Charging Stations, Clean Energy, Department of Defense (DOD)

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Mary Longenbaker

Proposed HSR Rule Changes to Increase Investment Fund Reporting, Exempt Minority Acquisitions by Activist Investors

On Monday, September 21, 2020, the Federal Trade Commission, with the support of the Department of Justice’s Antitrust Division, proposed changes to the rules governing merger notification under the Hart-Scott-Rodino Act of…more

De Minimus Quantity Exemption, Department of Justice (DOJ), Federal Register, Federal Trade Commission (FTC), Hart-Scott-Rodino Act

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Beverly Lorell, MD

Finally! FDA Issues Updated Draft Guidance on Diversity Action Plans Mandated by FDORA

On June 28, 2024, the U.S. Food and Drug Administration (FDA) announced in the Federal Register the issuance of a draft guidance entitled “Diversity Action Plans to Improve Enrollment of Participants from Underrepresented…more

Clinical Trials, Diversity, Draft Guidance, Food and Drug Administration (FDA), Life Sciences

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Ronald Lovelace

Avoiding an Ambiguous Hold Harmless Clause: What Every Lender Should Consider

Lenders rely on indemnification and hold harmless provisions in commitment and engagement letters to protect against claims that may be brought not only by third parties but by borrowers and their affiliates as well. Such…more

Ambiguous, Commitment Letter, Damages, Engagement Letters, Hold Harmless

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Michael Prinz zu Loewenstein

Schluss mit dem Schriftformmangel!

Wer in der deutschen Immobilienwirtschaft Transaktionen begleitet hat, dem ist das Schreckenswort „Schriftformmangel“ vertraut. Kein Due Diligence-Bericht zu den Mietverträgen eines Objekts, der dieses Thema nicht angesprochen…more

Contract Terms, Due Diligence, Germany, Landlords, Leases

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Sophia Luby

PCAOB Division of Enforcement’s First Quarter Continues Record-Setting Pace

The PCAOB’s Division of Enforcement and Investigations’ 2024 first quarter activity continued the blistering pace of enforcement since Erica Williams became the Board’s Chair. While the Board’s first quarter enforcement activity…more

Audits, Civil Monetary Penalty, Enforcement Actions, Investigations, PCAOB

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Gregory Lucas

IRS Rules that Oil and Gas Infrastructure Assets Yield Good REIT Income

On February 15, 2019, the Internal Revenue Service (the “IRS”) released PLR 201907001 (the “Ruling”), a private letter ruling addressing whether certain income related to the leasing of an oil and gas platform, selling of…more

Capital Assets, Corporate Counsel, Equipment Lease, Internal Revenue Code (IRC), IRS

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Katy Lucas

Bill to Make Local Coverage Determinations More Transparent Introduced in House

On July 11, 2016, Reps. Lynn Jenkins (R-Kan.) and Ron Kind (D-Wis.) introduced the Local Coverage Determination Clarification Act (H.R. 5721), with the goal of modifying the LCD process performed by Medicare Administrative…more

Local Coverage Determination (LCD), MACs, Proposed Amendments

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J. Philip Ludvigson

Biden Administration Issues Proposed Rule Targeting “Connected Vehicles” Tied to China or Russia

The Proposed Rule imposes substantial new reporting, diligence, and compliance obligations for companies in the automotive supply chain - On September 26, 2024, the U.S. Department of Commerce’s Bureau of Industry and…more

Advanced Notice of Proposed Rulemaking (ANPRM), Advisory Opinions, Automation Systems, Automotive Industry, Biden Administration

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Jerrod Lukacs

Georgia House Bill 192 – Codifying and Clarifying the Business Judgment Rule in Georgia

Georgia Legislature Acts to Nullify Georgia Supreme Court’s Decision in FDIC v. Loudermilk - After passing both the Georgia House of Representatives and the Georgia Senate, House Bill 192 is awaiting the signature of the…more

Business Judgment Rule, FDIC, GA Supreme Court, Gross Negligence

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Kristy Lundy

OIG Issues Favorable Advisory Opinion Regarding Use of Online Directory to Find Healthcare Providers

On July 11, 2023, OIG posted Advisory Opinion 23-04 regarding the use of an online healthcare directory for Federal healthcare program beneficiaries to find and book appointments with medical providers. Requestor sought OIG’s…more

Advisory Opinions, Anti-Kickback Statute, Civil Monetary Penalty, Federal Health Care Programs (FHCP), Health Care Providers

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Seth Lundy

OIG Increases Expectations for Compliance Officers in Its New Compliance Program Guidance – What Compliance Officers at Pharmaceutical and Medical Device Companies Need to Consider

On November 6, 2023, the U.S. Department of Health and Human Services Office of Inspector General (“OIG”) issued its anticipated General Compliance Program Guidance (“GCPG”) for the health care industry. The GCPG serves as a…more

Chief Compliance Officers, Compliance, Corporate Integrity Agreement, Disclosure Requirements, Enforcement

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Daniel Lungren

20 State Attorneys General Push Congress to Address Environmental Justice

Advancing Environmental Justice (“EJ”) is a central pillar of the Biden Administration. Beginning with President Biden’s Executive Order “Tackling the Climate Crisis at Home and Abroad,” signed during his first week in office,…more

Biden Administration, Climate Change, Enforcement Actions, Environmental Justice, Environmental Protection Agency (EPA)

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Richard Lutz

Trade and Manufacturing Alert - November 2017

KORUS Renegotiation Update - As we have reported previously, United States Trade Representative (USTR) Robert Lighthizer formally notified Korea in July that the U.S. requested a special Joint Committee meeting under the…more

China, Exports, Free Trade Agreements, Intellectual Property Protection, Korea

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Roberto Aguirre Luzi

AMLO Proposes New Legislation to Regulate the Oil & Gas Industry

On March 26, 2021, the President of Mexico, Andrés Manuel López Obrador (“AMLO”), sent a new bill to Congress intended to amend the Federal Hydrocarbons Law (the “Hydrocarbons Bill”). This is AMLO’s latest attempt to upend the…more

Energy Sector, Exports, Foreign Investment, Hydrocarbons, Imports

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Logan MacCuish

EPA Updates Its Vehicle and Engine Tampering & Aftermarket Defeat Device Enforcement Policy

The updates attempt to provide more clarity for modern vehicles and parts - On November 23, 2020, the U.S. Environmental Protection Agency (“EPA”) updated its policy for enforcement of vehicle and engine tampering and…more

CARB, Clean Air Act, Environmental Protection Agency (EPA), Environmental Violations, Guidance Update

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Emma Maconick

United States Trade Representative Releases Proposed List Of Chinese Products For Potential 25 Percent Tariff To Combat Discriminatory Or Unreasonable Technology Transfer, Intellectual Property, And Innovation Practices

As outlined in our prior client alert, on March 22, 2018, President Trump signed a memorandum instructing his administration to take action against the “unfair and harmful acquisition of U.S. technology” by China. Part of the…more

China, Presidential Memorandum, Tariffs, USTR

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Iain MacVay

The UK Has Left the EU but Northern Ireland Has Stayed, More Or Less

The UK will be out of the EU - The UK left the EU on 31 January. There will be a transition period during which the UK will be bound by EU law but will not have a vote or be part of EU decision-making. The transition is set…more

Beverage Manufacturers, Cross-Border Transactions, EU, Exports, Food Manufacturers

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Caroline Magee

ESG Impact Watch: Blockchain

Blockchain technology is increasing in popularity across industries but, in its current iteration, triggers significant environmental, social, and governance (ESG) considerations. As the financial services sector simultaneously…more

Blockchain, Data Mining, Digital Ledger Technology, Environmental Social & Governance (ESG), Greenhouse Gas Emissions

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Patricia Maher

New Obama Administration Employment-based Visa Rule and Trump's Plan to Target Visa Abuse Create Uncertainty For Employers

President-elect Trump made enforcement of immigration laws a centerpiece of his campaign. On November 21, 2016, Mr. Trump stated that he will make investigation of abuses in “visa programs that undercut the American worker” a…more

Department of Homeland Security (DHS), Department of Labor (DOL), Enforcement, H-1B, Presidential Elections

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Nicholas Maietta

Contracting for AI Technologies - Top Five Best Practices

Artificial intelligence (“AI”), including generative AI (“GAI”), has gained significant momentum in recent months due to its potential to transform how organizations create content, automate tasks, and provide personalized…more

Artificial Intelligence, Data Security, Disclosure Requirements, Due Diligence, Intellectual Property Protection

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Marisa Maleck

FTC Announces First Enforcement of the Health Breach Notification Rule

On February 1, the Federal Trade Commission (“FTC”) announced its first enforcement action under the Health Breach Notification Rule (“HBNR” or “Rule”) against GoodRx, a direct-to-consumer digital healthcare and prescription…more

Application Programming Interface (APIs), Breach Notification Rule, Data Privacy, Enforcement, Federal Trade Commission (FTC)

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Kelly Malone

Energy Newsletter - September 2020

Climate Change Litigation on the Horizon with Trump Environmental Overhaul - On July 16, 2020, President Trump’s Council on Environmental Quality (“CEQ”) published the long-awaited final rule revising the implementing…more

CEQ, CFIUS, Climate Change, Coronavirus/COVID-19, Debt Restructuring

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Mark Maloney

"Trust the Force"

Fifth Circuit Concludes That Forced Change of Control Was Not The Product of Duress - The U.S. Court of Appeals for the Fifth Circuit affirmed a lower court’s rejection of a guarantor’s duress defense in the face of a $58…more

Change of Control, Economic Duress, Forbearance Agreements, Lenders, Personal Guaranties

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Kevin Manz

Pre-Marketing: Risks and Considerations Relating to Bespoke Securitization Transactions

The current volatility in financial markets has caused an increase in interest in pre-marketing certain bespoke securitization transactions, including esoteric, real estate-based, whole business, music royalty and digital…more

Appraisal, Due Diligence, Financial Markets, Indemnification, Investors

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Richard Margolies

Regulation Best Interest: Updates and Developments

It’s been nearly five months since the Securities and Exchange Commission (“SEC”) approved Regulation Best Interest: The Broker-Dealer Standard of Conduct (“Reg BI”). As discussed in our June 27, 2019 Client Alert, Reg BI…more

Broker-Dealer, Fiduciary Duty, Financial Industry Regulatory Authority (FINRA), Form CRS, Investment Adviser

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Kathryn Marietta

Outer Continental Shelf Leasing: BOEM Withdraws Controversial Sole Liability Orders

On February 17, 2017, the Bureau of Ocean Energy Management (“BOEM”), which manages oil and gas leasing in the Outer Continental Shelf, announced that it is withdrawing previously-issued orders to sole liability property owners…more

BOEM, Commercial Leases, Leases, Oil & Gas, Outer Continental Shelf

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Scott Mario

Department of Justice Reverses Course on Class Action Waivers

In the ongoing debate over whether class action waivers in employee arbitration agreements violate the National Labor Relations Act (“NLRA”), the Department of Justice (“DOJ”) has done an about-face–switching stances from…more

Arbitration Agreements, Class Action, Class Action Arbitration Waivers, Department of Justice (DOJ), NLRA

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Nikhil Markanday

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Derek Marks

Industry-Focused American Rescue Plan Act Summary – Aviation

On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARP Act) into law, which provides approximately $1.9 trillion in financial assistance to individuals and industries impacted by COVID-19. The ARP…more

American Rescue Plan Act of 2021, Aviation Industry, CARES Act, Consolidated Appropriations Act (CAA), Coronavirus/COVID-19

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Edouard Markson

H2ypotheticals - September 13, 2022

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the Act). The Act includes multiple tax benefits for hydrogen production, storage and utilization, summarized in the following King & Spalding…more

Energy Sector, Hydrogen Power, Investment Tax Credits, IRS, Production Tax Credit

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Christina Markus

Finally! FDA Issues Updated Draft Guidance on Diversity Action Plans Mandated by FDORA

On June 28, 2024, the U.S. Food and Drug Administration (FDA) announced in the Federal Register the issuance of a draft guidance entitled “Diversity Action Plans to Improve Enrollment of Participants from Underrepresented…more

Clinical Trials, Diversity, Draft Guidance, Food and Drug Administration (FDA), Life Sciences

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Richard Marooney

Delaware Chancery Court Holds Corporate Officers Owe Duty of Oversight

Vice Chancellor Laster Extends This Fiduciary Duty, Previously Recognized only as to Corporate Directors - On January 25, 2023, the Delaware Court of Chancery answered an important question of officer liability, holding for…more

Class Action, Compliance, Corporate Misconduct, Corporate Officers, DE Supreme Court

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Damien Marshall

Threading the Needle in “Tax-Free” Spinoffs

With the rise in inflation and downturn in economies, spin-offs have become an increasingly popular method of unlocking shareholder value in a down market. Often, the ability to obtain tax-free treatment in the U.S. for the…more

Economic Downturn, Incentive Stock Options, National Insurance Contributions, Price Inflation, Restricted Stocks

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Emily Marsteller

FTC Announces 2024 Jurisdictional Threshold Updates for Interlocking Directorates and HSR Filing Thresholds

On January 22, 2024, the Federal Trade Commission (FTC) announced revised jurisdictional thresholds for determining whether a proposed transaction must be reported to federal authorities under the Hart-Scott-Rodino (HSR)…more

Consolidated Appropriations Act (CAA), Federal Trade Commission (FTC), Filing Requirements, Hart-Scott-Rodino Act, Interlocking Directorate

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Isabel San Martin

Reform to Mexican Electricity Law to Come into Effect

On March 2, 2021, and after a short-lived debate, the Mexican Federal Senate approved a bill that will modify Mexico’s Electricity Industry Law, effectively reversing rights granted to private investors in that sector (the…more

Clean Energy, Electricity, Energy Projects, Energy Reform, Foreign Investment

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Katherine Martin

Artificial Intelligence and the Fair Housing Act: Algorithms Under Attack?

The Fair Housing Act (“FHA”), enacted more than fifty years ago, prohibits discriminatory practices in housing. The FHA makes it illegal to “make unavailable or deny . . . a dwelling to any person” or “discriminate against any…more

Algorithms, Anti-Discrimination Policies, Artificial Intelligence, Fair Housing Act (FHA), Federal Trade Commission (FTC)

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Silvia Martin

Energy Newsletter - May 2020

Energy Explosion: 10 Trends to Watch in Energy Restructuring - On April 20, 2020, U.S. benchmark crude traded negative for the first time. This drastic drop in price was caused by the perfect storm of the Saudi Arabia-Russia…more

Carbon Off-Set Credits, Coronavirus/COVID-19, Energy Sector, Foreign Investment, Mexico

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Katherine Martin Mueller

Gas Stove Ban Update: Ninth Circuit Says "No" to City of Berkeley Ban on Gas Stoves

The gas stove wars continue to heat up. On April 17, 2023, the United States Court of Appeals for the Ninth Circuit took a stand and ruled that the City of Berkeley does not have the authority to prohibit connecting natural gas…more

Appeals, Consumer Product Safety Commission (CPSC), Department of Energy (DOE), ECPA, Natural Gas

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Russell Martinez

H2 2021: Latin America Enforcement Review

To close out 2021, enforcement authorities throughout the Americas continued to investigate fraud, corruption, and other misconduct across the region. For 2022, we expect an uptick of anticorruption investigations as a result…more

Anti-Corruption, Anti-Money Laundering, Biden Administration, Corporate Counsel, Corruption

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Viren Mascarenhas

New Legal Obligations of Companies to Respect Human Rights in Latin America

The business “responsibility to respect” human rights in Latin America, until recently, was governed mainly by soft law, namely the United Nations Guiding Principles on Business and Human Rights (“UNGP’s”). Two new legal…more

Climate Change, EU Directive, Human Rights, Latin America, Risk Assessment

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Randy Mastro

U.S. Supreme Court Holds Plaintiffs May Use RICO to Enforce Foreign Arbitral Awards

In a January 17, 2023 Client Alert, we addressed the U.S. Supreme Court’s decision to grant certiorari in CMB Monaco v. Smagin and Yegiazaryan v. Smagin, two cases which concern the use of the Racketeer Influenced and Corrupt…more

Bribery, Domestic Injury, Embezzlement, Foreign Arbitral Awards, Fraud

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Lauren Salas Mationg

Threading the Needle in “Tax-Free” Spinoffs

With the rise in inflation and downturn in economies, spin-offs have become an increasingly popular method of unlocking shareholder value in a down market. Often, the ability to obtain tax-free treatment in the U.S. for the…more

Economic Downturn, Incentive Stock Options, National Insurance Contributions, Price Inflation, Restricted Stocks

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Rebecca Matsumura

Court Dismisses Shareholder Suit Seeking To Recover Stock Drop from FDA Nonapproval of Experimental Drug

Companies that sell products or services that cannot be marketed without regulatory preclearance, and particularly companies that develop experimental drugs and medical devices, should take note of the recent opinion by Judge…more

Advisory Committee, Dismissals, Food and Drug Administration (FDA), Loss Causation, Medical Devices

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David Mattern

NHTSA Releases Guidance on Enforcement of Safety-Related Defects in Automated Vehicle Technologies - Agency’s stance raises implications for software manufacturers and suppliers

Last week, the National Highway Traffic Safety Administration (NHTSA) released its final Enforcement Guidance Bulletin on Safety-Related Defects and Automated Safety Technologies. The Guidance makes clear that the agency’s…more

Automation Systems, Enforcement, Final Guidance, Motor Vehicles, NHTSA

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Lorna Maupilé

Russia’s Recent Actions Against Foreign Investors Will Give Rise to Claims Under International Investment Treaties

Since the Russian Federation’s invasion of Ukraine, more than 400 international companies have announced their intentions to scale back or shut down their business operations in Russia. Russia has responded to the exodus of…more

Bilateral Investment Treaties, Economic Sanctions, Energy Charter Treaty, Foreign Investment, Military Conflict

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Kyle Maury

Cryptocurrency: Legal Developments and Outlook

Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants…more

Anti-Money Laundering, Bitcoin, Bitcoin Mining, Blockchain, CFIUS

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William Mavity

CMS Issues Revised Guidance Regarding Enrollment and Conversion Process for Rural Emergency Hospitals

On September 6, 2024, CMS released revised guidance regarding the process by which rural hospitals and outpatient facilities can participate in Medicare as a Rural Emergency Hospital (REH) rather than a Critical Access Hospital…more

Centers for Medicare & Medicaid Services (CMS), Conditions of Participation (CoP), Consolidated Appropriations Act (CAA), Critical Access Hospitals, Guidance Update

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Simon Maynard

Enforcing the Level Playing Field in the EU-UK Trade and Cooperation Agreement

In December 2020, the EU and UK announced the conclusion of a free trade agreement or ‘Association Agreement’, termed the Trade and Cooperation Agreement (“TCA”). The TCA has two core features. First, the TCA is a free trade…more

CETA, Cooperation Agreement, EU, Free Trade Agreements, International Arbitration

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Sara McBrearty

Energy Newsletter - March 2020

Disrupting the Disruptor: How a Prepared and Proactive Owner Can Mitigate the Effects of Coronavirus on Construction Projects - Once a remote health issue in China, the rapidly spreading coronavirus (COVID-19) has become not…more

Construction Project, Coronavirus/COVID-19, Energy Sector, Final Rules, Force Majeure Clause

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Juliet McBride

CMS Proposes New DMEPOS Coverage Policies and Payment Rates, and Seeks to Codify HCPCS Application, Benefit Category and Payment Determination Processes

On November 4, 2020, the Centers for Medicare & Medicaid Services (CMS) published a proposed rule (the Proposed Rule) outlining proposals for the coverage and payment for durable medical equipment, prosthetics, orthotics, and…more

21st Century Cures Act, Centers for Medicare & Medicaid Services (CMS), DMEPOS, Filing Deadlines, Food and Drug Administration (FDA)

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Kathleen McCarthy

California’s New Law To Prevent Greenwashing In Environmental Marketing For Voluntary Carbon Offsets

As part of a package of new climate change legislation, on October 7, 2023, California Governor Gavin Newsom signed into law the Voluntary Carbon Market Disclosures Act (“VCMDA” or “AB 1305”). Intended as an effort to reduce…more

California, Civil Monetary Penalty, Climate Change, Corporate Governance, Environmental Violations

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John McClenahan

Energy Newsletter - September 2020

Climate Change Litigation on the Horizon with Trump Environmental Overhaul - On July 16, 2020, President Trump’s Council on Environmental Quality (“CEQ”) published the long-awaited final rule revising the implementing…more

CEQ, CFIUS, Climate Change, Coronavirus/COVID-19, Debt Restructuring

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William McClintock

Reconsider That Term Sheet: DOJ "Safe Harbor Policy" Announcement Incentivizes Merger-Related Disclosures

On October 4, 2023, the Department of Justice’s (“DOJ”) Deputy Attorney General Lisa Monaco announced a new “Mergers & Acquisitions Safe Harbor Policy” (“M&A Safe Harbor Policy” or “Policy”) for companies that voluntarily…more

Acquisitions, Corporate Misconduct, Department of Justice (DOJ), Disclosure, Disgorgement

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Jona McCormick

Posting Requirements of the Families First Coronavirus Response Act

The Families First Coronavirus Response Act (“FFCRA”), which goes into effect on April 1, 2020, requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons…more

Coronavirus/COVID-19, Department of Labor (DOL), Families First Coronavirus Response Act (FFCRA), Notice Requirements, Posting Requirements

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Christopher McCoy

Energy Newsletter - May 2018

Courts Hold Clean Water Act Regulates Discharges through Groundwater, as Congress and Regulators Consider Responses - The Ninth Circuit and Fourth Circuit have joined a growing number of lower courts finding that the Clean…more

Clean Water Act, Energy Sector, Greenhouse Gas Emissions, Groundwater, Infrastructure

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Stephen McCullers

Energy Newsletter - September 2018

A Texas Federal Judge Turns Up the Heat on Oil Companies Facing Climate Change-Related Securities Class Actions - On August 14, 2018, the United States District Court for the Northern District of Texas issued a surprisingly…more

Abu Dhabi Global Markets (ADGM), Climate Change, Environmental Protection Agency (EPA), EU, Exxon Mobil

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Joel McElvain

King & Spalding Represents Medicaid Beneficiaries in a Suit to Challenge the Approval of the TennCare III Medicaid Demonstration Project

On April 22, 2021, thirteen Medicaid beneficiaries, represented by the National Health Law Program, the Tennessee Justice Center, and King & Spalding, filed a complaint in the U.S. District Court for the District of Columbia…more

Block Grants, Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Medicaid, Medicaid Act

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Oliver McEntee

Tokyo Dispute Resolution and Crisis Management Newsletter - January 2019

Significant White Collar Developments at the U.S. Department of Justice: 2018 in Review - Amid the daily barrage of news stories from the US relating to the Robert Mueller investigation, the opioid epidemic and the U.S…more

Bribery, Corporate Misconduct, Criminal Prosecution, Crisis Management, Cryptocurrency

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Zachary McEntyre

CFPB Issues Final Rule Banning Class Action Waivers in Consumer Finance Contracts

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) announced a final Rule banning the use of class action waivers in a broad range of consumer finance agreements. The Rule, which was expected in light of prior…more

Arbitration, Arbitration Agreements, Class Action, Class Action Arbitration Waivers, Consumer Contracts

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Hunter McGhee

Cryptocurrency: Legal Developments and Outlook

Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants…more

Anti-Money Laundering, Bitcoin, Bitcoin Mining, Blockchain, CFIUS

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Ben McJunkin

Task Force Report and NIST Revisions Highlight Need for Increased Private-Sector Cybersecurity Efforts

New technologies enhance the capabilities and efficiency of the energy industry. But these technologies also bring increasing cyber risks to the industry, the economy, and national security. Recognizing that critical energy…more

Cyber Attacks, Cybersecurity, Energy Sector, NIST, Popular

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Lynn McKay

Energy Newsletter - January 2018

Gas Market Reform in Asia: an Update on the Implementation of Third Party Access to LNG Import Terminals - The rise of natural gas and LNG in Asia continues apace, fuelled by a convergence of plentiful global LNG supply,…more

Asia, CERCLA, China, Environmental Protection Agency (EPA), Liquid Natural Gas

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Timothy McKenzie

U.S. Supreme Court Holds Plaintiffs May Use RICO to Enforce Foreign Arbitral Awards

In a January 17, 2023 Client Alert, we addressed the U.S. Supreme Court’s decision to grant certiorari in CMB Monaco v. Smagin and Yegiazaryan v. Smagin, two cases which concern the use of the Racketeer Influenced and Corrupt…more

Bribery, Domestic Injury, Embezzlement, Foreign Arbitral Awards, Fraud

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Lisa McKinnon-Lower

Anti-Money Laundering Implications for the Art Market in the UK

Introduction - The art market is characterised by high-value, portable items that can be bought and exchanged quickly and often confidentially. These features, which make the market inherently vulnerable to many types of…more

Anti-Money Laundering, Customer Due Diligence (CDD), HMRC, Money Laundering, National Crime Agency (NCA)

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Mark McLennan

Big Data and Bigger Disputes? How New Data Technologies Impact Construction Disputes

The last decade has seen the emergence of Big Data platforms allowing parties to major construction projects to digitize and integrate more and more of the engineering, design and build phase of their projects. Such…more

Audits, Big Data, Construction Disputes, Contractors, Engineering

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Christina Ann McNamara

CMS Reminds Providers to Identify Off-Campus Provider-Based Departments on Enrollment Forms

In connection with CMS’s implementation of Section 603 of the Bipartisan Budget Act of 2015 (BBA15), which directs CMS to no longer pay hospitals the full OPPS rate for services furnished in non-excepted off-campus…more

Bipartisan Budget Act, Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Hospitals, Off-Campus Departments

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Margaret McPherson

The Implications of a Revived Disparate Impact Doctrine Under a Biden CFPB

Every change in presidential administration results in shifts to agencies’ policy priorities and enforcement efforts. In a Biden Administration, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”), in particular, is…more

Biden Administration, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ), Discriminatory Lending Practices

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Patrick John McPherson

DIAC Issues New Arbitration Rules

On 25 February 2022, the board of directors of the Dubai International Arbitration Centre (“DIAC”) approved the new DIAC Arbitration Rules (the “2022 Rules”). The DIAC Rules, which were published on 2 March 2022, will come into…more

Arbitration, DIFC, Dispute Resolution, Dubai, Dubai International Arbitration Center (DIAC)

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Jill McWhirter

COVID-19 Impacts on Businesses and Their Intellectual Property Rights

Part 2 of a 2 Part Series: Avoiding and/or Eliminating Loss of IP Rights During the COVID-19 Pandemic - As a follow-on to our series, COVID-19 Impacts on Businesses and Their Intellectual Property Rights, companies need to…more

Coronavirus/COVID-19, Domain Names, Intellectual Property Protection, Patents, Proprietary Information

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Carissa Meade

District Court Orders HHS to Clear Medicare Appeals Backlog By 2022

On November 1, 2018, in response to a 2014 lawsuit filed by several individual hospitals and the American Hospital Association (“AHA”), the U.S. District Court for the District of Columbia ruled that the Department of Health and…more

American Hospital Association, Appeals, Department of Health and Human Services (HHS), Hospitals, Medicare

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Michael Meade

Indonesia Introduces CCS/CCUS Regulation

Indonesia has set an ambitious target to reach net zero emissions by 2060. The deployment of clean energy technologies, such as carbon capture and storage (“CCS”) and carbon capture, utilization and storage (“CCUS”), will play…more

Carbon Capture and Sequestration, Carbon Emissions, Contractors, Energy Sector, Indonesia

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Amelia Medina

DOJ Corporate Enforcement Policy Revisions Target Executive Compensation, Following Multi-Agency Trend

On March 2, 2023 and March 3, 2023, in a pair of speeches by Deputy Attorney General (DAG) Lisa Monaco and Criminal Division Assistant Attorney General (AAG) Kenneth Polite, the U.S. Department of Justice (DOJ) announced…more

Clawbacks, Compliance, Corporate Crimes, Corporate Integrity Agreement, Corporate Misconduct

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Barbara Medrado

The CHIPS Plus Act Promises Support and Incentives for Semiconductor Manufacturing in the United States

On August 9, 2022, President Joseph R. Biden signed the CHIPS and Science Act of 2022 (the “CHIPS Plus Act”). As enacted, the CHIPS Plus Act amends legislation and appropriates funding for semiconductor incentives originally…more

Foreign Investment, Incentives, Manufacturers, NDAA, Research and Development

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Kendrick Meek

ESG Agenda

BlackRock Doubles Down on Sustainability - • BlackRock signals substantially more assertive posture on climate-related issues • New approach to shareholder proposals saw BlackRock support 54% of environmental and social…more

Benchmarking, BlackRock, Climate Change, Coronavirus/COVID-19, Diversity and Inclusion Standards (D&I)

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Brian Meiners

Court Grants Injunction to Pause Handbag Merger

On Thursday, October 24, 2024, a New York federal judge granted the Federal Trade Commission’s request for a preliminary injunction to halt the merger between Tapestry Inc. and Capri Holdings Ltd. The court held that the…more

Acquisitions, Federal Trade Commission (FTC), Mergers, Preliminary Injunctions, Retail Market

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Xenia Melkova

Data Localization in Russia: Fines Alert Update

On December 2, 2019, President Putin signed the law regarding the introduction of administrative fines for failure to comply with personal data localization requirements set by the Law on Personal Data since September 1, 2015…more

Administrative Fines, Data Localization Law, Fines, New Legislation, Personal Data

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Jonathan Melmed

The Inflation Reduction Act Clears the Senate

House Passage and President Biden’s Signature Expected This Week - On Sunday, August 7, following an all-night voting session, the Senate approved the Inflation Reduction Act (IRA) by a vote of 51-50. The IRA was considered…more

Affordable Care Act, Biden Administration, Carbon Capture and Sequestration, Clean Air Act, Corporate Taxes

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Maya Melnikas

Energy Newsletter - October 2016

Negotiating an In-Project Construction Dispute - Many thorny and competing interests are implicated when an ongoing major construction project experiences an unanticipated event that impacts the project schedule or costs,…more

Construction Contracts, Construction Industry, Construction Project, De Novo Standard of Review, Due Process

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Gina Merrill

The Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021 Brings Significant Change to Employers with Mandatory Pre-Dispute Arbitration Agreements

Congress passed the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021 (H.R. 4445) and on March 3, 2022 President Biden signed it into law (the “Act”). The Act amends the Federal Arbitration Act (the…more

#MeToo, Biden Administration, Civil Rights Act, Federal Arbitration Act, Mandatory Arbitration

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Lucretia Messiah

Compensation and Benefits Insights – August 2019

Multiple Employer Plans: Proposed IRS Regulations Eliminate the “One Bad Apple” Rule - A multiple employer plan (MEP) is a tax qualified retirement plan that is maintained by two or more employers who are not part of the…more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions

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Gary Messplay

FDA Issues Updated Draft Guidance on Addressing Misinformation About Medical Devices and Prescription Drugs

On July 8, 2024, the U.S. Food and Drug Administration (“FDA”) issued a new draft guidance for industry titled, Addressing Misinformation About Medical Devices and Prescription Drugs – Questions and Answers (hereafter,…more

Advertising, Disclosure Requirements, Draft Guidance, Enforcement, False Advertising

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Andrew Metcalf

Real Estate of Mind: Key UK/US Real Estate Insights for GCC Investors in 2023

Following our inaugural Real Estate of Mind round up (see here) of trends in the sector earlier this year, as 2022 draws to a close, we have set off on the road once again to connect with clients and friends alike in Bahrain,…more

Bahrain, Borrowers, FIRRMA, Global Market, Investment

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Emily Meyer

First Circuit Dismisses Claim That Fidelity Violated Its Fiduciary Duties By Retaining Float

In July, the Court of Appeals for the First Circuit rejected a claim that Fidelity breached its fiduciary duties by retaining “float” earned while Fidelity was handling 401(k) plan distributions. (Float is interest earned in…more

Department of Labor (DOL), Fidelity Investments, Fiduciary Duty, Stock Float

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Paul Alessio Mezzina

Loper Bright v. Raimondo

U.S. Supreme Court overrules Chevron and restores courts’ obligation to exercise independent judgment - On June 28, 2024, in one of the last decisions of the Term, the U.S. Supreme Court issued its long-awaited decision in…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Constitutional Challenges, Government Agencies

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Brian Michael

Pumping the Brakes: FinCEN Reopens Comment Period for Controversial Crypto Reporting & Recordkeeping Rules

After Widespread Market Opposition in an Expedited First Round of Comments, FinCEN Solicits More Feedback on Rule Seeking to “Close Gaps” in Virtual Currency Anti-Money Laundering Rules On January 14, in a surprise move, the…more

Administrative Procedure Act, Anti-Money Laundering, Bank Secrecy Act, Biden Administration, Cryptocurrency

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Andrew Michaelson

Financial Services Regulation in the Post-Jarkesy World

On June 27, 2024, the U.S. Supreme Court issued its opinion in Securities and Exchange Commission v. Jarkesy. By a 6-3 vote, the Supreme Court affirmed the Fifth Circuit’s ruling, holding that the Seventh Amendment prohibits the…more

Administrative Agencies, Administrative Law Judge (ALJ), FDIC, Financial Services Industry, NCUA

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Geneviève Michaux

EUROPE – New Interim Guidance on Parallel EMA-HTA Body Scientific Advice

On July 3, 2023, the European Medicines Agency (“EMA”) and the European Commission published a Guidance on Parallel EMA/HTA body Scientific Advice for the Interim Period (“Guideline”). The Guideline organizes parallel…more

Applications, Confidentiality Agreements, EU, European Medicines Agency (EMA), Health Technology

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Craig Miles

The Constitutional Changes in Chile and their Impact on the Construction Industry

Chile’s reputation for political and economic stability and a transparent business environment was shaken in 2019 when Chileans took to the streets decrying the country’s inequalities and urging governmental reform. This unrest…more

Chile, Constitutional Challenges, Construction Industry, Infrastructure, Investment

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Brian Miller

Financial Services Regulation in the Post-Jarkesy World

On June 27, 2024, the U.S. Supreme Court issued its opinion in Securities and Exchange Commission v. Jarkesy. By a 6-3 vote, the Supreme Court affirmed the Fifth Circuit’s ruling, holding that the Seventh Amendment prohibits the…more

Administrative Agencies, Administrative Law Judge (ALJ), FDIC, Financial Services Industry, NCUA

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Steven Miller

SEC and FINRA Emphasize Cybersecurity, AML, and Reg BI as Key Areas of Focus for Broker-Dealer Examinations in 2021

The U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) have each published their annual examination priorities for 2021, signaling areas of scrutiny that broker-dealers should…more

Anti-Money Laundering, Broker-Dealer, Compliance, Conflicts of Interest, Cybersecurity

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Jeffrey David Mills

Considering a Move to Texas? Here’s What You Need to Know About Patent Litigation

California-based tech companies have increasingly been moving their operations to Texas over the last two years, a trend that has only accelerated as remote and hybrid work have become a fact of life. Whether your company has…more

Inter Partes Review (IPR) Proceeding, Judges, Patent Litigation, Patents, Texas

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Read Mills

Cryptocurrency: Legal Developments and Outlook

Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants…more

Anti-Money Laundering, Bitcoin, Bitcoin Mining, Blockchain, CFIUS

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Leah Min

Plastics and PFAS – Recent Developments Target Food and Beverage Packaging

In recent months, a variety of state legislatures have passed laws that restrict or regulate packaging, including that used for food and beverages. One set of laws concerns extended producer responsibility (EPR) programs that…more

Environmental Protection Agency (EPA), Oregon, PFAS, Plastics, Popular

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Jorge Miranda

Energy Newsletter - April 2019

Shifting Dynamics in Latin America - On March 5, 2019, King & Spalding hosted an Energy Forum, titled “Shifting Dynamics in Latin America”, to discuss the political and regulatory changes in Latin America and their impact on…more

Climate Change, Cross-Border Transactions, Due Diligence, Energy & Climate Debates, Energy Sector

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Manuel Sánchez Miranda

Trade & Manufacturing - August 2019

The United States And China Engage In A New Set Of Trade Talks, But President Trump Announces A Tariff Of 10 Percent On $300 Billion Worth Of Chinese Imports - On July 30, 2019, the United States and China opened a new round…more

Buy America, Canada, China, Dispute Resolution, EU

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Jeffrey Misher

NAV Facilities

In its most simple form, a net asset value-based facility (“NAV Facility”) is a credit facility, whereby availability under the facility is based on the net asset value of the portfolio investments of the borrower, often a…more

Default, Interest Rates, Investors, Liquidity, NAV

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Ramon Miyar

The Supreme Court Has Held that Individual PAGA Claims Can Be Severed and Compelled to Arbitration: But What Happens to the Non-Individual Portion of the Claim?

In its much-anticipated decision in Viking River Cruises, Inc. v. Moriana, 142 S. Ct. 1906 (2022), the U.S. Supreme Court held that the Federal Arbitration Act (“FAA”) preempts California law to the extent that it precludes the…more

Arbitration, CA Supreme Court, California, Federal Aviation Administration (FAA), Labor Code

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Samuel Dennis Mkrtchian

D.C. Circuit Upholds Dismissal of Proposed Class Action Against HHS for Home Health Aid Shortage

On August 9, 2024, the U.S. Court of Appeals for the District of Columbia upheld a lower court’s decision to dismiss a proposed class action accusing HHS of causing a shortage of home health aides willing to assist Medicare…more

Beneficiaries, Class Action, Department of Health and Human Services (HHS), Disability Discrimination, Enforcement

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Natasha Moffitt

Imposter Websites Prompt Regulatory Warning to Financial Industry

On April 29, 2019, FINRA published an Information Notice alerting to a potential increase in member firms falling victim to imposter websites – websites designed to appear legitimate but that actually serve as a vehicle to…more

Authentication, Cybersecurity, Fake Websites, Financial Fraud, Financial Industry Regulatory Authority (FINRA)

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Kevin Mohr

Mexico’s Supreme Court Weighs-In on AMLO’s Reform to Power Sector Law

Last year King & Spalding issued an informative note regarding a new bill (“LIE Bill”) in the power sector introduced by Mexico’s President Andrés Manuel López Obrador (“AMLO”) that, after a fast-track congressional vote, came…more

Forum Shopping, Mexico, Mexico Supreme Court of Justice, Public Utility

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Enrique Molina

Protections for Hydrogen Projects Under the Modernized Energy Charter Treaty

For over two decades, investors in the energy sector have benefited from protections found in The Energy Charter Treaty (“ECT”). Investors in hydrogen projects will soon be able to benefit from these same protections…more

Energy Charter Treaty, EU, Foreign Investment, Hydrogen Power, Investment

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Clarissa Moliterno

Q2 2021: Latin America Enforcement Review

This summary is part of our regular reporting of trends and developments related to investigations and enforcement activity into fraud, corruption, and other misconduct by authorities in the United States and the Americas and…more

Anti-Corruption, Austria, Banks, Biden Administration, Brazil

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Melissa Monaghan

FTC Announces Final Rule Sweeping Consumer Digital Health Tech Under the Health Breach Notification Rule

On April 26, the Federal Trade Commission (FTC) approved its Final Rule revising the Health Breach Notification Rule (HBNR) (“Final Rule”) by a 3-2 vote. The HBNR requires vendors of personal health records (PHR) and related…more

Breach Notification Rule, Data Breach, Enforcement, Federal Trade Commission (FTC), Final Rules

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Patrick Montgomery

Upcoming Reforms to Corporate Criminal Liability in the UK

Traditionally in UK law, in order to hold a company criminally liable, enforcement authorities must prove wrongdoing by a senior person representing the company’s “controlling mind and will.” Through this “identification…more

Corporate Crimes, Enforcement, Fraud, Liability, Scope of Discovery Requests

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Peter Montoni

Eighth Circuit Rules No Successor Liability for Buyer from Asset Foreclosure Sale

On September 19, 2019, the U.S. Court of Appeals for the Eighth Circuit affirmed a lower court’s conclusion that a purchaser at a private foreclosure sale has no successor liability to a debtor’s unpaid creditors. BACKGROUND…more

Counterclaims, Creditors, Debtors, Deficiency Judgments, Foreclosure

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Alice Mony

The Right to Disconnect: A Comparative Analysis

The line between ‘work’ and ‘home’ has historically been clear for most employees – separated by a distinct office building, worksite, or retail space. Technology has blurred this line in the past few decades and, for some…more

Employment Policies, Fair Work Act, Fair Work Commission, Noncompliance, Off-Duty Employee Access

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Suyoung Moon

Treasury and IRS Issue Additional Guidance on Section 40B Sustainable Aviation Fuel Tax Credit

Section 40B of the Internal Revenue Code of 1986 (the “Code”) enacted by the Inflation Reduction Act of 2022 (the “IRA”) provides tax credits for each gallon of sustainable aviation fuel (“SAF”) sold or used by a taxpayer before…more

Aviation Industry, CARB, Carbon Offset and Reduction Scheme for International Aviation (CORSIA), Fuel Standards, Greenhouse Gas Emissions

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Alexander (Alex) Moore

California’s New Law To Prevent Greenwashing In Environmental Marketing For Voluntary Carbon Offsets

As part of a package of new climate change legislation, on October 7, 2023, California Governor Gavin Newsom signed into law the Voluntary Carbon Market Disclosures Act (“VCMDA” or “AB 1305”). Intended as an effort to reduce…more

California, Civil Monetary Penalty, Climate Change, Corporate Governance, Environmental Violations

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Rebecca Cole Moore

COVID-19: Permissible And Impermissible Procedures For When Employees Return To The Workplace

As states begin contemplating ways to ease shelter in place restrictions and how to facilitate employees returning to work, employers are faced with developing and implementing new policies and procedures to effectively…more

Americans with Disabilities Act (ADA), Coronavirus/COVID-19, Employer Liability Issues, Equal Employment Opportunity Commission (EEOC)

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Tamra Moore

FTC Signals Increased Enforcement Effort Against Ineffective Data Security Protocols

With two recent enforcement actions, the Federal Trade Commission (FTC) has shown that administering appropriate data security policies is an area of priority. On October 24, 2022, the FTC announced a Proposed Consent Order…more

Cryptocurrency, Data Breach, Data Protection, Data Security, Employee Training

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Gladys Morales

Cryptocurrency: Legal Developments and Outlook

Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants…more

Anti-Money Laundering, Bitcoin, Bitcoin Mining, Blockchain, CFIUS

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Dr. Rüdiger Morbach

Engine Overhaul: The Hague Court of Arbitration (Hague CAA) Updates its Rules

While all eyes of the aviation industry are currently on this year’s Paris Air Show and the record purchases of India’s airlines, aviation lawyers ask themselves how to resolve disputes that arise out of these billion-dollar…more

Arbitration, Arbitration Awards, New Rules, The Hague

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Brenna Moreno

The Administration Takes Aim At Drug Prices Again – This Time Through A Controversial Framework for Exercising March-In Rights

The Biden Administration recently announced a plan to leverage an old tool in a new way to try to reduce drug costs: exercising “march-in rights” under the Bayh-Dole Act for drugs that were supported by government funding. …more

Bayh-Dole Act, Biden Administration, Department of Health and Human Services (HHS), Drug Pricing, Federal Contractors

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Elizabeth Morgan

SEC Adopts Final Climate Disclosure Rules

Proposed rules are moderately scaled-back in final version; Scope 1 and 2 are required if material; Scope 3 is out; compliance will still be burdensome - On March 6, 2024, by a split vote of 3-2, the U.S. Securities and…more

Climate Change, Compliance, Disclosure Requirements, Final Rules, Greenhouse Gas Emissions

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Jennifer Morgan

Fifth Circuit Vacates Private Fund Adviser Rules

On Wednesday, the U.S. Court of Appeals for the Fifth Circuit (the “court”) held that the Securities and Exchange Commission (“Commission”) exceeded its statutory authority when it adopted the Private Fund Adviser Rules (“PFAR”)…more

Certiorari, En Banc Review, Investment Adviser, Judicial Review, Pending Litigation

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Mercedes Morno

Defense Department Releases Report On Strengthening Defense-Critical Supply Chains

Evaluates Defense Industrial Base Supply Chains and Outlines Strategic Investments in Vital National Security Items - This is the first in a series of client alerts that will be published in the near future regarding…more

Batteries, Defense Production Act, Department of Defense (DOD), Department of Energy (DOE), Department of Transportation (DOT)

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John Morrison

Cryptocurrency: Legal Developments and Outlook

Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants…more

Anti-Money Laundering, Bitcoin, Bitcoin Mining, Blockchain, CFIUS

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Caline Mouawad

Africa Bulletin - September 2019

INTRODUCTION - It has been a busy few months for private equity activity in Africa. Statistics and transactions have illustrated a growing appetite for investment in the continent and, crucially, growing confidence and…more

Africa, Anti-Corruption, Economic Development, Financial Markets, Foreign Investment

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Sam Muir

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Dr. Sebastian Mueller

EDPB Publishes Guidelines On Territorial Scope For Public Consultation

On November 16, 2018, the European Data Protection Board (“EDPB”), the General Data Protection Regulation (“GDPR”) successor of the Art. 29 Data Protection Working Group, released its long-awaited Guidelines 3/2018 on the…more

EU, European Data Protection Board (EDPB), Extraterritoriality Rules, General Data Protection Regulation (GDPR)

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Brandon Mullings-Whitaker

Energy Newsletter - December 2019

Rekindling the Flame: Oil & Gas Securitizations - A number of recent structurings of investment-grade rated securitizations of oil and gas wells are sparking conversations in the U.S. upstream oil and gas industry about this…more

Arbitration, Climate Change, Energy Sector, Green Buildings, International Chamber of Commerce (ICC)

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Catherine Munro

Following Finch: Planning Permission for Coal Mine Quashed

In the recent case of Friends of the Earth v Secretary of State for Levelling Up, Housing & Communities & others; South Lakeland Action on Climate Change v Secretary of State for Levelling Up, Housing & Communities & others…more

Carbon Emissions, Climate Change, Coal Mines, Environmental Assessments, Environmental Policies

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Sophia Munroe

A Pathway for Medicare Coverage for Breakthrough Devices: Take Two

On June 27, 2023, the Centers for Medicare & Medicaid Services (“CMS” or the “Agency”) issued a “Notice with Comment Period” (“Notice”) describing a new process for providing expedited Medicare coverage for certain eligible…more

Centers for Medicare & Medicaid Services (CMS), Food and Drug Administration (FDA), Health Technology, Medicare, Post-Market Approval

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J. Emmett Murphy

US Supreme Court Rules Section 1782 Discovery is Unavailable for Use in Private Foreign Commercial Arbitrations and Certain Investment Arbitrations

On June 13, 2022, in a unanimous consolidated decision authored by Justice Amy Coney Barrett, the U.S. Supreme Court ruled that the scope of 28 U.S.C. § 1782(a) (Section 1782), which authorizes federal courts to order discovery…more

28 U.S.C. § 1782, Arbitration, Federal Arbitration Act, Foreign Arbitration Clauses, ICSID

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Jeanna Murphy

California's New Climate Disclosure Requirements: A Work in Progress

In groundbreaking legislation, California continues to lead the nation in climate change regulation by enacting the bulk of the California Climate Accountability Package – an unprecedented climate disclosure mandate for public…more

California, Climate Action Plan, Climate Change, Disclosure Requirements, Greenhouse Gas Emissions

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Leslie Murphy

Limitations on Arbitrator Authority to Issue Pre-Hearing, Non-Party Discovery in the Wake of Aixtron

Third party discovery may be helpful to providers in arbitrations. For example, if a provider is in a dispute with a health plan, if there are questions as to whether the health plan or the medical group has financial…more

Arbitration, Arbitrators, Federal Arbitration Act, Third-Party

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Paul Murphy

DOJ Announces Civil CyberFraud Initiative to Use False Claims Act to Enforce Cybersecurity Standards in Government Contracts

On October 6, the Deputy Attorney General (“DAG”) announced a new Department of Justice (“DOJ”) Civil Cyber-Fraud Initiative – an effort that pulls together attorneys and experts across DOJ focused on fraud enforcement,…more

Compliance, Critical Infrastructure Sectors, Cyber Attacks, Cybersecurity, Department of Justice (DOJ)

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Michelle Muscara

Texas Bankruptcy Court Recommends Denying Summary Judgment in Case Alleging Fraudulent Transfer of PPP Funds to Make Settlement Payments

On May 16, 2024, the U.S. Bankruptcy Court for the Northern District of Texas recommended that the district court largely deny cross motions for summary judgment in an action by the liquidating trust for Fresh Acquisitions, LLC…more

Bankruptcy Court, Commercial Bankruptcy, Fraudulent Transfers, Paycheck Protection Program (PPP), Settlement

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Bernhardt Nadell

NAIC's Focus on Investment Management Agreements (IMAs) involving Private Equity-Owned Insurers

As private equity investors continue to increase their presence in the insurance industry with acquisitions of insurers and reinsurance of blocks of insurance contracts through insurer portfolio companies and segregated cells,…more

Conflicts of Interest, Insurance Industry, Investment Management, Investors, Life Insurance

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Alla Naglis

Data Localization in Russia: Fines Alert Update

On December 2, 2019, President Putin signed the law regarding the introduction of administrative fines for failure to comply with personal data localization requirements set by the Law on Personal Data since September 1, 2015…more

Administrative Fines, Data Localization Law, Fines, New Legislation, Personal Data

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Granta Nakayama

Loper Bright v. Raimondo

U.S. Supreme Court overrules Chevron and restores courts’ obligation to exercise independent judgment - On June 28, 2024, in one of the last decisions of the Term, the U.S. Supreme Court issued its long-awaited decision in…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Constitutional Challenges, Government Agencies

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Kelly Nash

Changes Needed To Data Sharing In The EU To Safeguard Against Security And Border Management Challenges

On 16 April 2018, Giovanni Buttarelli, the European Data Protection Supervisor (“EDPS”), published Opinion 4/2018 on the Proposals for two Regulations establishing a framework for interoperability between EU large-scale…more

Data Protection, Data-Sharing, EU

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Jason Nasra

Energy Newsletter - February 2018

Developing an FSRU Project in New Markets: 10 Key Considerations - As at 1 July 2017, the total number of operational floating storage and regasification units (“FSRUs”) globally stood at 26, with 23 operating as terminals…more

Energy Sector, FERC, Foreign Investment, Human Rights, Income Taxes

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Leigh Nathanson

Infrastructure Investment and Jobs Act: Key Provisions and Considerations for Project Participants

On November 15, 2021, President Biden signed into law the Infrastructure Investment and Jobs Act (“Infrastructure Act”), which provides for $550 billion in new federal spending on infrastructure in the United States over a…more

Anti-Fraud Provisions, Biden Administration, Broadband, Buy America, Carbon Capture and Sequestration

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Jennifer Neilsson

Department of Labor Finalizes Changes to QPAM Exemption

Investment managers who manage private employee benefit plan and individual retirement account (collectively, “Plan”) assets have long relied on Prohibited Transaction Class Exemption 84-14 (commonly referred to as the “QPAM…more

Criminal Convictions, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Federal Register, Internal Revenue Code (IRC)

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Richard Nelson

Energy Newsletter - December 2019

Rekindling the Flame: Oil & Gas Securitizations - A number of recent structurings of investment-grade rated securitizations of oil and gas wells are sparking conversations in the U.S. upstream oil and gas industry about this…more

Arbitration, Climate Change, Energy Sector, Green Buildings, International Chamber of Commerce (ICC)

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Margaret Nettesheim

Upcoming Reforms to Corporate Criminal Liability in the UK

Traditionally in UK law, in order to hold a company criminally liable, enforcement authorities must prove wrongdoing by a senior person representing the company’s “controlling mind and will.” Through this “identification…more

Corporate Crimes, Enforcement, Fraud, Liability, Scope of Discovery Requests

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Robert Neufeld

The USPTO Shutdown: Causes and Implications

How a USPTO Shutdown Will Affect PTAB Litigation and Prosecution Matters & Strategies - The government shutdown began December 22, 2018, but the United States Patent and Trademark Office (USPTO) and district and appeals…more

Discovery Disputes, Filing Requirements, Government Shutdown, Patent Prosecution, Patent Trial and Appeal Board

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Emily Shoemaker Newton

SEC Files Action Against Company and its General Counsel for Loss Contingency Accrual and Disclosure Failures – What to Know

SEC’s Factual Allegations - On September 9, 2016, the Securities and Exchange Commission (“SEC”) filed a complaint against RPM International Inc. (“RPM”) and its General Counsel and Chief Compliance Officer, alleging the…more

Department of Justice (DOJ), Disclosure Requirements, False Claims Act (FCA), Internal Investigations, Loss Contingencies

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Floyd Newton III

SEC Chairman Calls for Legal Bulletin on EMMA Disclosures

Is information posted on EMMA subject to greater scrutiny under the antifraud provisions of the federal securities laws than when posted only on an issuer’s website?…more

Anti-Fraud Provisions, Broker-Dealer, Disclosure Requirements, EMMA, Investment Adviser

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Jonathan Newton

The Insider: Key Developments for Chief Legal Officers and Corporate Legal Teams

Welcome to the inaugural issue of The Insider. This new publication from King & Spalding’s Public Companies Practice, which will be produced periodically, is focused on key developments for chief legal officers and their…more

Attorney-Client Privilege, D&O Insurance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Duty to Monitor

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Emma Sanh Nguyen

US Supreme Court Rules Section 1782 Discovery is Unavailable for Use in Private Foreign Commercial Arbitrations and Certain Investment Arbitrations

On June 13, 2022, in a unanimous consolidated decision authored by Justice Amy Coney Barrett, the U.S. Supreme Court ruled that the scope of 28 U.S.C. § 1782(a) (Section 1782), which authorizes federal courts to order discovery…more

28 U.S.C. § 1782, Arbitration, Federal Arbitration Act, Foreign Arbitration Clauses, ICSID

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Grant Nichols

Foreign Extortion Prevention Act (FEPA)

How the New Law Creates Legal Risks and Opportunities for International Businesses - On December 22, 2023, President Biden signed into law the 2024 National Defense Authorization Act (NDAA), which will give the U.S. Department…more

Anti-Bribery, Anti-Corruption, Bribery, Department of Justice (DOJ), Enforcement

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Matthew Nichols

SEC Chairman Calls for Legal Bulletin on EMMA Disclosures

Is information posted on EMMA subject to greater scrutiny under the antifraud provisions of the federal securities laws than when posted only on an issuer’s website?…more

Anti-Fraud Provisions, Broker-Dealer, Disclosure Requirements, EMMA, Investment Adviser

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Steven Niedelman

FDA Warns Drug & Device Firms Against Delaying & Limiting Facility Inspections in New Draft Guidance

On December 16, 2022, the U.S. Food & Drug Administration (“FDA” or “Agency”) published an important and noteworthy draft guidance document entitled “Circumstances that Constitute Delaying, Denying, Limiting, or Refusing a Drug…more

Citations, Draft Guidance, FDARA, FDASIA, Federal Food Drug and Cosmetic Act (FFDCA)

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Megan Nishikawa

US EPA Releases Guidance on Legal Tools to Advance Environmental Justice

On May 26, 2022, the Environmental Protection Agency’s Office of the General Counsel released EPA Legal Tools to Advance Environmental Justice (“EJ Legal Tools”). The document builds on and updates EPA’s 2011 Plan EJ 2014: Legal…more

Air Quality Standards, Clean Air Act, Clean Water Act, Department of Justice (DOJ), Department of Labor (DOL)

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Alexander Noble

Can’t We All Just Get Along? Four Key Areas of Dispute in the Evolving Landscape of LIBOR Cessation Litigation

On November 30, 2020, parties to legacy LIBOR contracts breathed a collective sigh of relief as LIBOR’s administrator Intercontinental Exchange, Inc. (“ICE”) announced that US Dollar LIBOR would continue to be published until…more

Adjustable-Rate Mortgage, Alternative Reference Rates Committee (ARRC), Class Action, Enforcement Actions, EU

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Katherine Nobles

Spokeo II : On Remand from Supreme Court, Ninth Circuit Finds Statutory Violation of Fair Credit Reporting Act Sufficient to Confer Article III Standing

On August 15, 2017, in a much-anticipated opinion in a case that has drawn national attention in the past three years, the United States Court of Appeals for the Ninth Circuit held that an alleged violation of the Fair Credit…more

Article III, Class Action, Fair Credit Reporting Act (FCRA), Injury-in-Fact, Remand

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Terry Novetsky

Utilizing Structured Finance Techniques in Distressed Situations

Securitization, and structured finance generally, is a critical capital-raising tool for many companies. Utilizing one or more bankruptcy-remote special purpose entities to legally isolate the credit risk of quality,…more

Bankruptcy Code, Bankruptcy Court, Capital Raising, Contingency Plans, Credit Enhancements

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Dominic Nunneri

District Court Enjoins Montana State Statute Which Prohibits Healthcare Providers from Denying Employment Based on a Person’s Lack of COVID-19 Vaccination

On March 18, 2022, a group of providers successfully obtained a preliminary injunction to stop enforcement of a Montana statute that prohibits employers, including healthcare providers, from compelling their employees to…more

Centers for Medicare & Medicaid Services (CMS), Coronavirus/COVID-19, Employee Benefits, Final Rules, Health Care Providers

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Robert Nussbaum

The Airline Industry and the CARES Act: What Secured Lenders Need to Know

Since its enactment, aviation related companies have received well over $50 billion in grants and loans under the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) that was passed in March 2020. But how do…more

Aviation Industry, Bankruptcy Code, CARES Act, Coronavirus/COVID-19, Loan Forgiveness

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Lee Nutini

Report: $10 Billion in Provider Relief Funds Diverted to Operation Warp Speed For Vaccine Development

According to an exclusive report from STAT, sometime last year, federal officials decided to redirect billions in funds from the $175 billion CARES Act’s Provider Relief Fund to the “Operation Warp Speed” (OWS) vaccine…more

CARES Act, Coronavirus/COVID-19, Department of Health and Human Services (HHS), Health Care Providers, Operation Warp Speed

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Alicia O'Brien

New Drivers, Same Bumpy Ride

Congressional Tech Focus Will Continue This Term, Fueled by Bipartisan - Scrutiny on Multiple Fronts With the Democratic party now in control of both the House and the Senate, we anticipate increased congressional oversight…more

Communications Decency Act, Competition, Diversity and Inclusion Standards (D&I), Drivers, Employee Rights

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Judith O'Brien

California Enacts Law Requiring Female Representation on Boards

On September 30, 2018, California Governor Jerry Brown signed into law Senate Bill No. 826 (SB 826). SB 826 adds Sections 301.3 and 2115.5 to the California Corporations Code to require that a publicly held company with a…more

Board of Directors, Diversity, Gender Equity, Woman Board Members

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Kevin O'Brien

Second Circuit Affirms Dismissal of Claims Alleging “Loan-to-Own” Scheme

On June 17, 2024, the U.S. Court of Appeals for the Second Circuit affirmed the dismissal of a developer’s “loan-to-own” claims against a bridge lender. As we reported in previous editions (here and here), after Georgia-based…more

Commercial Bankruptcy, Dismissals, Repurchases

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Meredith Sheldon O'Leary

Effect of New FTC Rule Banning Post-Employment Non-Compete Agreements on Executive Compensation Arrangement

On April 23, 2024, the Federal Trade Commission issued its final rule imposing a nationwide ban on employers using post-employment non-competes with current and former workers. Other than narrow exceptions for (1) existing…more

Clawbacks, Compliance, Executive Compensation, Federal Trade Commission (FTC), Final Rules

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Stephen O'Neal

Infrastructure Investment and Jobs Act: Key Provisions and Considerations for Project Participants

On November 15, 2021, President Biden signed into law the Infrastructure Investment and Jobs Act (“Infrastructure Act”), which provides for $550 billion in new federal spending on infrastructure in the United States over a…more

Anti-Fraud Provisions, Biden Administration, Broadband, Buy America, Carbon Capture and Sequestration

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Amy O'Neill

First Settlement by OCR in a Phishing Cyber-Attack Investigation

On December 7, 2023, OCR released a statement that it was settling a phishing cyber-attack investigation into Lafourche Medical Group (the Medical Group) which specializes in emergency medicine, occupational medicine, and…more

Corrective Actions, Cyber Attacks, Health Insurance Portability and Accountability Act (HIPAA), Investigations, OCR

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Macky O'Sullivan

Africa Bulletin - September 2019

INTRODUCTION - It has been a busy few months for private equity activity in Africa. Statistics and transactions have illustrated a growing appetite for investment in the continent and, crucially, growing confidence and…more

Africa, Anti-Corruption, Economic Development, Financial Markets, Foreign Investment

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Les Oakes

EPA Releases a Cumulative Impacts Addendum to its Environmental Justice Tool Kit

On January 11, 2023, EPA’s Office of the General Counsel released a Cumulative Impacts Addendum (“Addendum”) to its May 2022 publication Legal Tools To Advance Environmental Justice, continuing to signal its focus on cumulative…more

Civil Rights Act, Clean Air Act, Clean Water Act, Environmental Justice, Environmental Protection Agency (EPA)

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Martin Oberst

REIT Advisor – March 2020

On March 2, 2020, the Securities and Exchange Commission (the “SEC”) released its final rule amending the financial disclosure requirements applicable to registered debt offerings that include credit enhancements, including…more

Amended Regulation, Disclosure Requirements, Final Rules, Financial Statements, New Rules

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Nicholas Oldham

And So It Begins: The First DFS Transition Period Comes to an End August 28

In September 2016, the New York Department of Financial Services (“DFS”) introduced the first draft of its cybersecurity regulation, which is now in a position to lead a new trend in industry-specific cybersecurity regulation…more

Cybersecurity, Department of Financial Services, Incident Response Plans, Risk Assessment

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Gerard Olson

The Beginning of the National Bioengineered Food Disclosure Standard

In our last issue of the International Food Law Gazette, we reported on the changing legal landscape for the labeling of genetically engineered (GE) foods (more commonly referred to as genetically modified organisms, or GMO). In…more

Agricultural Sector, Bioengineering, Food Manufacturers, Genetically Engineered Seed, GMO

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Osahon Omoregie

Rule 192

On January 25, 2023, the Securities and Exchange Commission (“SEC”) issued a release reproposing new Rule 192 (the “Proposed Rule”) under the Securities Act of 1933 (the “Securities Act”), which is intended to prevent the sale…more

Asset-Backed Securities, Conflicts of Interest, Dodd-Frank, Liquidity, Proposed Rules

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Stephen Orava

USTR Initiates New Process To Request Exclusions From The Section 301 China Tariffs For “Certain Machinery Used In Domestic Manufacturing”

Exclusion requests must be filed by March 31, 2025 and granted exclusions would be available through May 31, 2025 - On October 15, 2024, the Office of the U.S. Trade Representative (“USTR”) established an electronic portal…more

China, Documentation, Imports, Manufacturers, Section 301

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Patrick Otlewski

Financial Services Regulation in the Post-Jarkesy World

On June 27, 2024, the U.S. Supreme Court issued its opinion in Securities and Exchange Commission v. Jarkesy. By a 6-3 vote, the Supreme Court affirmed the Fifth Circuit’s ruling, holding that the Seventh Amendment prohibits the…more

Administrative Agencies, Administrative Law Judge (ALJ), FDIC, Financial Services Industry, NCUA

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Elisabeth Ouart

France – New Offense of Providing Instruments to Facilitate Tax Fraud

The fight against tax fraud occupies a central place in the French Finance Act for 2024. Among the various proposals is the new Article 1744 of the French tax code, which creates the offense of making instruments available…more

France, Money Laundering, Penalties, Tax Code, Tax Fraud

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Elizabeth Owerbach

Trade & Manufacturing - July 2018

The Trump Administration Announces Final List Of Articles Subject To Section 301 Tariffs - On June 15, the Office of the United States Trade Representative (“USTR”) released the final list of 818 Chinese products that will…more

Aluminum Sales, Canada, China, Imports, Mexico

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Caitlyn Ozier

AdvaMed Updates Code of Ethics on Interactions with HCPs: What’s the Impact on MedTech?

On March 18, 2022, the Advanced Medical Technology Association (“AdvaMed”) announced revisions to its Code of Ethics on Interactions with Health Care Professionals (“Code”). The revised Code will take effect June 1, 2022…more

AdvaMed, Anti-Kickback Statute, Department of Health and Human Services (HHS), Ethics, Final Rules

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William Peyton Pair

OIG Publishes Final Information Blocking Enforcement Rule

On July 3, 2023, OIG published its final enforcement rule (the OIG Rule) permitting imposition of civil monetary penalties (CMPs) for certain actors that engage in information blocking in violation of the information blocking…more

21st Century Cures Act, Civil Monetary Penalty, Electronic Protected Health Information (ePHI), Enforcement, Final Rules

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Evan Palenschat

The Rise in Ghost Kitchens

The introduction of meal delivery apps, including UberEats, GrubHub and DoorDash, has expanded e-commerce in the food industry and increased the size of the food delivery market. Over the last five years prior to the start of…more

Coronavirus/COVID-19, DoorDash, Food and Drug Administration (FDA), Food Safety, Food Safety and Inspection Service (FSIS)

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William Panlilio

Tokyo Dispute Resolution & Crisis Management Newsletter – August 2020 - Mining Arbitration in the Asia-Pacific

The Asia-Pacific region integrates the mining industry within the life cycle of the global economy more fluidly than perhaps anywhere else in the world. Metals and minerals extracted from the region are transported to the…more

Arbitration, Asia Pacific, Contractors, Global Economy, Infrastructure

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Melanie Papadopoulos

Recent Court Ruling Illustrates The Perils Insurers Face When Sending Boilerplate Coverage Letters To Georgia Policyholders

Federal Court in Georgia Applies Hoover Rule Finding that Insurers Who Sent Denial Letters Waived Right to Assert Other Coverage Defenses Later. Eight years ago in Hoover v. Maxum Indemnity Co., 730 S.E.2d 413 (Ga. 2012),…more

Boilerplate Language, Denial of Insurance Coverage, False Claims Act (FCA), GA Supreme Court, Georgia

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Rebecca Paradis

New FDA Guidance on Control of Nitrosamine Impurities

FDA Releases Guidance on the Agency’s Understanding of Nitrosamine Impurities - On September 1, 2020, the U.S. Food and Drug Administration (“FDA”) released a new guidance document, Guidance for Industry: Control of…more

APIs, Food and Drug Administration (FDA), New Guidance, Over The Counter Drugs (OTC), Prescription Drugs

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Caitlin Pardue

MedPAC Recommends Cuts to Urban Hospital’s Medicare Payments

On April 5, the Medicare Payment Advisory Commission (MedPAC) issued a unanimous recommendation to decrease some urban outpatient hospitals’ Medicare payments, while increasing rural hospital payments to improve emergency…more

Hospitals, Medicare, MedPAC

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Ashley Parrish

Loper Bright v. Raimondo

U.S. Supreme Court overrules Chevron and restores courts’ obligation to exercise independent judgment - On June 28, 2024, in one of the last decisions of the Term, the U.S. Supreme Court issued its long-awaited decision in…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Constitutional Challenges, Government Agencies

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Abby Parsons

The Administration Takes Aim At Drug Prices Again – This Time Through A Controversial Framework for Exercising March-In Rights

The Biden Administration recently announced a plan to leverage an old tool in a new way to try to reduce drug costs: exercising “march-in rights” under the Bayh-Dole Act for drugs that were supported by government funding. …more

Bayh-Dole Act, Biden Administration, Department of Health and Human Services (HHS), Drug Pricing, Federal Contractors

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Tamsin Parzen

U.S. Supreme Court Holds Plaintiffs May Use RICO to Enforce Foreign Arbitral Awards

In a January 17, 2023 Client Alert, we addressed the U.S. Supreme Court’s decision to grant certiorari in CMB Monaco v. Smagin and Yegiazaryan v. Smagin, two cases which concern the use of the Racketeer Influenced and Corrupt…more

Bribery, Domestic Injury, Embezzlement, Foreign Arbitral Awards, Fraud

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Nicholas Paster

USTR Initiates New Process To Request Exclusions From The Section 301 China Tariffs For “Certain Machinery Used In Domestic Manufacturing”

Exclusion requests must be filed by March 31, 2025 and granted exclusions would be available through May 31, 2025 - On October 15, 2024, the Office of the U.S. Trade Representative (“USTR”) established an electronic portal…more

China, Documentation, Imports, Manufacturers, Section 301

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Rahul Patel

Buyers Beware - Delaware Chancery Court Orders CorePower to Honor Acquisition of Franchisee Studios

On March 1, 2022, Vice Chancellor Slights of the Delaware Chancery Court ordered CorePower Yoga (“CorePower”) to close the acquisition of 34 yoga studios from its largest franchisee, Level 4 Yoga (“Level 4”). The parties entered…more

Acquisitions, Coronavirus/COVID-19, Damages, Force Majeure Clause, Material Adverse Effects

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Rajesh Patel

COVID-19 Impacts on Businesses and Their Intellectual Property Rights

Part 2 of a 2 Part Series: Avoiding and/or Eliminating Loss of IP Rights During the COVID-19 Pandemic - As a follow-on to our series, COVID-19 Impacts on Businesses and Their Intellectual Property Rights, companies need to…more

Coronavirus/COVID-19, Domain Names, Intellectual Property Protection, Patents, Proprietary Information

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Anthony Patten

Indonesia Introduces CCS/CCUS Regulation

Indonesia has set an ambitious target to reach net zero emissions by 2060. The deployment of clean energy technologies, such as carbon capture and storage (“CCS”) and carbon capture, utilization and storage (“CCUS”), will play…more

Carbon Capture and Sequestration, Carbon Emissions, Contractors, Energy Sector, Indonesia

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Jesse Pauker

Newsflash – What do the UK’s new employment laws mean for Financial Services?

The UK’s new Labour government unveiled a package of new workers’ rights yesterday, with wide-ranging ramifications for employers. Whilst the most significant measures will not be implemented until 2026 at the earliest,…more

Compensation, Diversity and Inclusion Standards (D&I), Employee Rights, Equal Pay, Financial Conduct Authority (FCA)

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Michael Paulhus

United States District Court in Florida Holds False Claims Act Qui Tam Provision Unconstitutional

On September 30, 2024, a federal district court in Florida held the qui tam enforcement provision of the False Claims Act (“FCA”), which permits private citizens to pursue actions in the name of and on behalf of the government,…more

Appointments Clause, Article II, False Claims Act (FCA), Federal Rules of Civil Procedure, Florida

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Michael Pauze

Financial Services Regulation in the Post-Jarkesy World

On June 27, 2024, the U.S. Supreme Court issued its opinion in Securities and Exchange Commission v. Jarkesy. By a 6-3 vote, the Supreme Court affirmed the Fifth Circuit’s ruling, holding that the Seventh Amendment prohibits the…more

Administrative Agencies, Administrative Law Judge (ALJ), FDIC, Financial Services Industry, NCUA

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Jeffrey Pawlitz

Covenants Reconsidered In Preparation for New Lease Accounting Rules (ASC 842; IFRS 16)

A joint effort by the Financial Accounting Standards Board (“FASB”) and the International Financial Reporting Standards Foundation (“IFRS”) will fundamentally reset the accounting treatment of leases under both US-GAAP and IFRS…more

FASB, Financial Services Industry, GAAP, IFRS

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Garry Pegg

The Common Law Touch - The status of English law for international business post-Brexit

The UK referendum result in June 2016, which saw the majority of the electorate vote to leave the European Union (EU), has presented many questions about the future legal implications of a Brexit. While individual legislative…more

English Common Law, EU, Member State, Referendums, UK

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Julie Peng

EPA Proposes to Cut 2020 and 2021 Volumes for the Renewable Fuel Standards Program, While Aiming to Increase 2022 Volumes

On December 7, 2021, the U.S. Environmental Protection Agency (“EPA”) signed and submitted for publication in the Federal Register its proposed rule for setting renewable fuel percentage standards. The proposed rule sets the…more

Biofuel, Clean Air Act, Coronavirus/COVID-19, Energy Policy Act, Environmental Protection Agency (EPA)

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Nicole Pereira

U.S. District Court Dismisses Commodity Exchange Act Claims as Impermissibly Foreign

On August 27, 2020, Judge George B. Daniels of the U.S. District Court for the Southern District of New York granted a Rule 12(c) motion for judgment on the pleadings made by financial institutions facing benchmark-rigging…more

Appeals, Chicago Mercantile Exchange (CME), Commodity Exchange Act (CEA), Commodity Futures Contracts, Dismissals

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Melanie Perez

The EU General Court confirms the Commission's jurisdiction to review transactions that do not meet any national thresholds

In its judgment of 13 July 2022, the EU General Court confirmed that transactions that do not meet EU or Member State thresholds can be referred by national competition authorities to the European Commission (the “Commission”)…more

EU, EUMR, General Court of the European Union (GCEU), Jurisdiction, New Guidance

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Kelly Perigoe

Mallory Opinion: Constitutionality Of Jurisdiction By Registration May Be A Mirage

The Supreme Court’s recent opinion in Mallory v. Norfolk Southern Railway Co.. concerned the constitutionality of a Pennsylvania statute providing that registering to do business in the state constitutes a sufficient basis for…more

Commerce Clause, Constitutional Challenges, Due Process, Foreign Corporations, Fourteenth Amendment

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Edward Perkins

European Union To Push Ahead With Cross-Border Evidence Law

In a move which has drawn fire from industry and civil-liberties groups, the European Union (“EU”) is moving forward with a bill to enable law enforcement authorities to access digital evidence held by private companies in other…more

Cross-Border, EU, Evidence

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Jeffrey Perry

SEC Approves Significant Changes to Auditor’s Reports: New Disclosure Implications for Companies

On October 23, 2017, the Securities and Exchange Commission, or the SEC, unanimously approved new rules and amendments designed to render auditor’s reports more informative to investors. These provisions were proposed by the…more

Audits, Disclosure Requirements, Securities and Exchange Commission (SEC)

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Misty Peterson

Recent Amendments to Pennsylvania “Breach of Personal Information Notification Act”

On June 28, 2024, Governor Josh Shapiro of Pennsylvania approved several notable amendments to the Commonwealth’s data breach notification law (SB 824). In summary, the revised statute: adds a regulator notification…more

Breach Notification Rule, Consumer Reporting Agencies, Credit Reporting Agencies, Data Breach, Personal Information

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Evelina Petraviciute

Energy Newsletter - May 2021

Business and Human Rights: Energy and extractives in a changing landscape of new generation trade agreements protecting and promoting both trade and human rights - As allegations of genocide, forced labour, or widespread…more

Energy Sector, Enforcement Actions, Environmental Justice, Environmental Protection Agency (EPA), Human Rights

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W. Scott Petty

Trump Administration Releases List Of $200 Billion In Chinese Imports Proposed To Be Subject To 10 Percent Tariff

Comments Sought By August 17, 2018 On List Of Over 6,000 Potentially Affected Tariff Lines - The U.S. Trade Representative (USTR) has announced a new list of products imported from China that it proposes would be subject to…more

China, Imports, Tariffs, Trump Administration, USTR

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Alexandra Peurach

Eleventh Circuit Confirms that Issuers are not Required to Disclose Retention of Outside Promotional Firms

On December 15, 2016, the United States Court of Appeals for the Eleventh Circuit affirmed the dismissal of a securities class action against Galectin Therapeutics Inc., a Georgia-based biotechnology company. The suit alleged…more

Disclosure Requirements, Financial Markets, Pharmaceutical Industry, Public Offerings, Publicly-Traded Companies

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Craig Phillips

Treasury Issues Final Regulations Addressing “Domestically Controlled” REIT Status

On April 25, 2024, the IRS and Treasury issued final regulations (the “Final Regulations”) addressing whether a real estate investment trust (a “REIT”) or a regulated investment company (a “RIC”) will constitute a “domestically…more

C-Corporation, Fair Market Value, Final Rules, FIRPTA, Income Taxes

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Ivan Pico

The EU General Court confirms the Commission's jurisdiction to review transactions that do not meet any national thresholds

In its judgment of 13 July 2022, the EU General Court confirmed that transactions that do not meet EU or Member State thresholds can be referred by national competition authorities to the European Commission (the “Commission”)…more

EU, EUMR, General Court of the European Union (GCEU), Jurisdiction, New Guidance

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Brian Pierce

Saudi Arabia unveils new US$50 billion water desalination programme - The Kingdom to offer privatisations as well as new water desalination project contracts

The Ministry of Environment, Water and Agriculture of Saudi Arabia has announced a new water desalination programme involving private sector participation worth over an estimated US$50 billion. The programme will be split…more

Desalination, Private Sector, Public Private Partnerships (P3s), Saudi Arabia, Water

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Trever Pinkerton

SEC Adopts Final Climate Disclosure Rules

Proposed rules are moderately scaled-back in final version; Scope 1 and 2 are required if material; Scope 3 is out; compliance will still be burdensome - On March 6, 2024, by a split vote of 3-2, the U.S. Securities and…more

Climate Change, Compliance, Disclosure Requirements, Final Rules, Greenhouse Gas Emissions

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Preeya Noronha Pinto

Transitional Coverage for Emerging Technologies: CMS’s Latest, But Not Necessarily Greatest, Coverage with Evidence Approach

On August 7, 2024, the Centers for Medicare & Medicaid Services (“CMS” or the “Agency”) issued a final procedural notice (“Notice”) outlining a new Medicare coverage pathway, aimed at achieving timelier and predictable access to…more

AHRQ, Beneficiaries, Centers for Medicare & Medicaid Services (CMS), Food and Drug Administration (FDA), Health Technology

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Lucas Queiroz Pires

FinCEN’s Final Rule on Anti-Money Laundering for Residential Real Estate Transfers

On August 29, 2024, the Financial Crimes Enforcement Network (“FinCEN”) issued a final rule under the Bank Secrecy Act (“BSA”) requiring certain persons involved in real estate closings and settlements to report and maintain…more

AML/CFT, Anti-Money Laundering, Bank Secrecy Act, Beneficial Owner, Exemptions

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Alek Pivec

CMS Issues IPPS and LTCH Final Rule for FY 2025

On August 1, 2024, CMS filed a display copy of its final rule for Fiscal Year (FY) 2025 pertaining to the Inpatient Prospective Payment Systems (IPPS) for general acute care hospitals and long-term care hospitals (LTCHs) (the…more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Final Rules, Inpatient Prospective Payment System (IPPS), Long Term Care Facilities

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Jane Player

EU-U.S. Privacy Shield: Assessing The New Regime

Businesses have now had four months to get to grips with the new EU-U.S. Privacy Shield for transatlantic data transfers after it came into force in August 2016. As the New Year looms, what are the emerging trends we have seen…more

Data Privacy, Data Protection Authority, EU, EU-US Privacy Shield, European Commission

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Michael Plotnick

PCAOB Division of Enforcement’s First Quarter Continues Record-Setting Pace

The PCAOB’s Division of Enforcement and Investigations’ 2024 first quarter activity continued the blistering pace of enforcement since Erica Williams became the Board’s Chair. While the Board’s first quarter enforcement activity…more

Audits, Civil Monetary Penalty, Enforcement Actions, Investigations, PCAOB

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Renato Polillo

Uptick In Coordinated U.S.-Brazil Anti-Corruption Enforcement

As companies expand across borders and invest more heavily abroad, foreign enforcement authorities are following the example set by the U.S. Department of Justice and the U.S. Securities and Exchange Commission in directing…more

Anti-Corruption, Enforcement Authority, Foreign Corrupt Practices Act (FCPA), Multi-Jurisdictional Litigation, Odebrecht

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Drew Pollekoff

2023 M&A Outlook: Recapping Key Takeaways from Dealmaking in 2022 and Navigating New Challenges

Coming off record-setting levels in 2021, M&A deal activity cooled in the second half of 2022. A multitude of factors – including soaring inflation, steadily rising interest rates and the higher cost of financing, geopolitical…more

Acquisitions, Borrowers, Corporate Counsel, Department of Justice (DOJ), Domestic Dealmaking

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Ben Pollock

Thinking Beyond the Dispute Resolution Provision in Construction Disputes

When parties cannot resolve a claim during a major construction project, the contract’s dispute resolution provisions do not always need to read as step-by-step instructions. To the contrary, the situation may warrant a…more

Construction Contracts, Construction Disputes, Construction Industry, Construction Litigation, Construction Project

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Joseph Polonsky

Sponsor Debt Purchases as Affiliated Lenders

In response to changes in the marketplace, it’s possible that borrowers will employ debt buybacks as a way to ease their overall net leverage levels (either as a means to cure financial covenant defaults resulting from the…more

Credit Agreements, Financial Institutions, Financial Services Industry, Financial Sponsors, Lenders

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Mark Polston

CMS Issues Guidance for Medicare Contractors to Pay For Section 1115 Day

On March 16, 2023, CMS issued Change Request 12669, which contains instructions for Medicare Administrative Contractors (MACs) to begin the process of retroactively reimbursing DSH hospitals for inpatient days attributable to…more

Centers for Medicare & Medicaid Services (CMS), Medicaid, Medicare, Medicare Administrative Contractors (MAC), New Guidance

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B. Warren Pope

U.S. Supreme Court Unanimously Rules On Standing Requirements For Section 11 Claims In Direct Listings

On June 1, 2023, the United States Supreme Court unanimously held that a stockholder bringing claims under Section 11 of the Securities Act of 1933 must plead and prove that they purchased shares traceable to the allegedly…more

Direct Listing, Initial Public Offering (IPO), NYSE, SCOTUS, Section 11

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Kathy Lynn Poppitt

What Next for the ACA after Texas v. U.S.? What the Industry Needs to Know While the Case Is on Appeal

United States District Court Judge Reed O’Connor of the Northern District of Texas issued a ruling on Friday, December 14, 2018, declaring the Patient Protection and Affordable Care Act (ACA) unconstitutional in its entirety. …more

Affordable Care Act, Federal Taxes, SCOTUS, Tax Reform, Unconstitutional Condition

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Marco Portillo Diaz

Energy Newsletter - August 2019

Significant Changes to FERC’s Rules for Market-Based Rate Sellers - On July 18, 2019, the Federal Energy Regulatory Commission (“FERC”) issued two orders modifying its rules for sellers to obtain or retain authorization to…more

Energy Sector, FERC, Intercreditor Agreements, ISO/RTO, Latin America

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Dave Powell

Real Estate of Mind: Key UK/US Real Estate Insights for GCC Investors in 2023

Following our inaugural Real Estate of Mind round up (see here) of trends in the sector earlier this year, as 2022 draws to a close, we have set off on the road once again to connect with clients and friends alike in Bahrain,…more

Bahrain, Borrowers, FIRRMA, Global Market, Investment

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Edmund Power

DOJ Announces FCA Settlement with NIH-Funded Institute Related to Disclosure of Foreign Influence in Research

The Department of Justice (DOJ) recently announced that it reached a $5,500,000 settlement with a biomedical research institute that received NIH grant funding–the Van Andel Research Institute (VARI)–to resolve allegations that…more

Department of Justice (DOJ), Enforcement Actions, Failure To Disclose, False Claims Act (FCA), Federal Grants

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J. Andrew Pratt

Supreme Court Accepts Narrow Definition of Autodialer, Limiting Reach of TCPA

On April 1, in a highly anticipated decision that likely will have a significant effect on litigation under the Telephone Consumer Protection Act (TCPA), the Supreme Court ruled on what qualifies as an “automatic telephone…more

ATDS, Auto-Dialed Calls, Facebook, Facebook Inc v Duguid, Random or Sequential Number Generator

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L. Wayne Pressgrove, Jr.

Treasury Issues Final Regulations Addressing “Domestically Controlled” REIT Status

On April 25, 2024, the IRS and Treasury issued final regulations (the “Final Regulations”) addressing whether a real estate investment trust (a “REIT”) or a regulated investment company (a “RIC”) will constitute a “domestically…more

C-Corporation, Fair Market Value, Final Rules, FIRPTA, Income Taxes

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Danielle Pressler

Biden Administration Issues Proposed Rule Targeting “Connected Vehicles” Tied to China or Russia

The Proposed Rule imposes substantial new reporting, diligence, and compliance obligations for companies in the automotive supply chain - On September 26, 2024, the U.S. Department of Commerce’s Bureau of Industry and…more

Advanced Notice of Proposed Rulemaking (ANPRM), Advisory Opinions, Automation Systems, Automotive Industry, Biden Administration

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Jameyson Price

EPA’s Revised Rule for Ethylene Oxide ("EtO") Manufacturers

In a just-released air toxics rule for miscellaneous organic chemical manufacturing (“MON”) sources, the U.S. Environmental Protection Agency (“EPA”) retains its controversial risk value for ethylene oxide (“EtO”). In doing so,…more

Air Pollution, Environmental Protection Agency (EPA), NESHAP, New Rules, Toxic Chemicals

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Sarah Primrose

District of Maryland Holds that “Specific Evidence” Must be Presented to Prove Lender Knowledge of Loan Applicant Fraudulent Actions

On April 1, 2022, the U.S. District Court for the District of Maryland granted in part and denied in part motions for summary judgment brought by lenders on claims against them for alleged participation in fraud by a borrower…more

Aiding and Abetting, Fraud, Loans, Maryland, Negligence

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Alan Prince

Glass Lewis Issues 2018 Voting Policies Update

On November 22, 2017, Glass Lewis issued its updated proxy voting guidelines for the upcoming 2018 proxy season. Notable updates applicable to U.S. companies include new or revised policies relating to: ..gender diversity on…more

Diversity, Glass Lewis, Proxy Season, Proxy Voting Guidelines, Shareholders

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Stuart Isaacs QC

No Deal Brexit: Impact on Cross-Border Civil and Commercial Litigation

On 13 September 2018, the UK Government published a guidance note setting out the implications that a “no deal” Brexit would have on civil and commercial disputes and cross-border insolvencies in England and Wales. Civil and…more

Cross-Border, EU, Member State, UK, UK Brexit

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Joseph Quinn

Rebuilding Infrastructure in America: The White House Legislative Outline — General Overview and Insight

In early February, the White House released President Donald J. Trump’s legislative goals for rebuilding U.S. infrastructure. Implementation of these goals would rely heavily on states, the private sector and private funding to…more

Infrastructure, Infrastructure Financing, Trump Administration

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Jules Quinn

A Privileged Position

HR Managers and in-house lawyers frequently face the task of navigating and protecting legal privilege. Issues around privilege often arise during internal investigations, data subject access requests and discussions of…more

Attorney-Client Privilege, Confidential Information, Employment Tribunals, Grievance Process, Legal Advice Privilege

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Luisa Gutierrez Quintero

Quantum Quarterly – Issue 12 – 4 Quarter 2020

Claimant is an Australian joint venture between Chile’s Antofagasta plc and Canada’s Barrick Gold Corporation. In 2006, Claimant became a party to a joint venture agreement between it and the Government of Balochistan with the…more

Arbitration, Burden of Proof, Causation, Compensation, Contributory Negligence

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Olivia Radin

FinCEN Issues Final Rule Expanding Anti-Money Laundering/ Countering the Financing of Terrorism Requirements for Investment Advisers

On September 4, 2024, the Financial Crimes Enforcement Network (“FinCEN”), U.S. Department of Treasury, published a final rule (the “Final Rule”) expanding the definition of “financial institution” under the Bank Secrecy Act…more

AML/CFT, Anti-Money Laundering, Anti-Terrorism Financing, Asset Management, Bank Secrecy Act

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Jennifer Raghavan

Recently Introduced Legislation Designed To Secure Voting Systems

On September 21, 2016, Representative Hank Johnson (R-GA) introduced two bills in the U.S. House of Representatives that aim to protect U.S. voting systems from hackers. These two pieces of legislation—the “Election…more

Department of Homeland Security (DHS), Federal Elections, Hackers, Infrastructure, Voter Registration

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Simon Rahimzada

Changes to the UAE Foreign Ownership Laws

In September 2020, the UAE Cabinet of Ministers (the Cabinet) issued Law No. 26 of 2020 (the Amendment) which amended certain provisions of the UAE Companies Law No. 2 of 2015 (the Companies Law). The amendments include…more

Financial Institutions, Foreign Investment, Foreign Ownership, Proposed Amendments, United Arab Emirates (UAE)

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Shaila Rahman Diwan

Spotlight on PFAS and Other Substances in Cosmetics Likely to Grow in 2022

This year – 2022 – may finally be the year that the effort to modernize safety standards in the U.S. for cosmetics and other personal care products, which has been ongoing since 2013, comes to fruition. If so, the new cosmetics…more

Best Practices, Cosmetics, EU, European Commission, Food and Drug Administration (FDA)

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Kimberly Rai

New York State OMIG Announces Updates to Self-Disclosure Program

On August 21, 2023, the New York State Office of the Medicaid Inspector General (OMIG) published an update to its self-disclosure program. The update allows for two (2) types of self-disclosures: (i) an Abbreviated Statement…more

Corrective Actions, Medicaid, New York, OMIG, Overpayment

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Michael Rainey

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Bradford Ramsdell

Energy Newsletter - May 2018

Courts Hold Clean Water Act Regulates Discharges through Groundwater, as Congress and Regulators Consider Responses - The Ninth Circuit and Fourth Circuit have joined a growing number of lower courts finding that the Clean…more

Clean Water Act, Energy Sector, Greenhouse Gas Emissions, Groundwater, Infrastructure

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Tom Randall

AshleyMadison.com Operators Settle With FTC And States For $1.66 Million

On December 14, 2016, the Federal Trade Commission (the “FTC”) announced that ruby Corp., ruby Life Inc., and ADL Media Inc. (the “Defendants”) agreed to a settlement with the FTC, 13 states, and the District of Columbia. The…more

Ashley Madison, Data Breach, Federal Trade Commission (FTC), Personally Identifiable Information, Websites

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Jessica Rapoport

Surprise Year-End SEC Disgorgement Legislation Settles Some Issues but Raises Others

The legitimacy and scope of the SEC’s “disgorgement” remedy have been the focus of increasing scrutiny for the better part of the past decade. Among other things, two Supreme Court decisions in the past four years placed…more

Appropriation, Disgorgement, Investors, Kokesh v SEC, Liu v Securities and Exchange Commission

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Hamzeh Marwan Al Rasheed

Changes to the UAE Foreign Ownership Laws

In September 2020, the UAE Cabinet of Ministers (the Cabinet) issued Law No. 26 of 2020 (the Amendment) which amended certain provisions of the UAE Companies Law No. 2 of 2015 (the Companies Law). The amendments include…more

Financial Institutions, Foreign Investment, Foreign Ownership, Proposed Amendments, United Arab Emirates (UAE)

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Kenneth Raskin

Compensation and Benefits Insights – September 2019

“Exit Contribution” an End-Run Around de minimis Withdrawal Liability - A recent ruling from the U.S. Court of Appeals for the Fourth Circuit, Sheet Metal Workers’ National Pension Fund v. Four-C-Aire, Inc. (4th Cir. July 3,…more

Appeals, Collective Bargaining Agreements (CBA), Compensation & Benefits, De Minimis Claims, Deferred Compensation

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Cassandra Rasmussen

Europe - Between The EU Clinical Trials Regulation And The UK Guideline On Clinical Trials

Last week the Regulation on Clinical Trials (“CTR”) finally became effective in the European Union (“EU”) and replaced the prior Clinical Trials Directive 2001/20 (“CTD”). The CTR was adopted in 2014 and was meant to enter into…more

Clinical Trials, Data Privacy, Deadlines, Disclosure Requirements, EU

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Carrie Ratliff

Focus on ESG: What it Means for REITs

Over the past 18 months, shareholder focus on environmental, social and governance issues - known collectively as “ESG” - has increased significantly. Once the target area of specialty investors, ESG issues are now a higher…more

Investors, Proxy Season, Publicly-Traded Companies, REIT, Shareholders

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Daniel Ray

House Passes SELF DRIVE Act, With Security And Privacy In Mind

On Wednesday, September 6, the U.S. House of Representatives unanimously passed H.R. 3388, the SELF DRIVE Act (the “Act”). While the Act’s primary purpose is to preempt state laws that regulate automated vehicles, and instead to…more

Automotive Industry, Cybersecurity, Driverless Cars, Privacy Policy

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Meredith Bunn Redwine

Accelerated Covid-19 Vaccine Clinical Trials

Liability exposure and shields for vaccine developers - As the number of COVID-19 cases continues to rise every day, efforts to develop vaccines across the globe have hit record speeds. In the U.S., the U.S. Food and Drug…more

Center for Biologics Evaluation and Research (CBER), Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Department of Health and Human Services (HHS), European Medicines Agency (EMA)

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Gareth Rees QC

A Rock or A Hard Place?

Reporting overseas enforcement action against Senior Managers to the Prudential Regulation Authority. On 7 November 2018, the Prudential Regulation Authority (“PRA”) issued two final notices against two individuals who had…more

Banking Sector, Enforcement Actions, Japan, NYDFS, Prudential Regulation Authority (PRA)

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Nikki Reeves

FDA Issues Updated Draft Guidance on Addressing Misinformation About Medical Devices and Prescription Drugs

On July 8, 2024, the U.S. Food and Drug Administration (“FDA”) issued a new draft guidance for industry titled, Addressing Misinformation About Medical Devices and Prescription Drugs – Questions and Answers (hereafter,…more

Advertising, Disclosure Requirements, Draft Guidance, Enforcement, False Advertising

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Jarred Reiling

The Issue of Phthalates in Food Packaging and Processing Heats Up

In recent decades, the use of plastics has proliferated. Overall, they have shown to provide a cost-friendly, durable and versatile solution to many consumer needs across virtually all categories of products regulated by the…more

Consumer Product Safety Commission (CPSC), Consumer Product Safety Improvement Act (CPSIA), Food and Drug Administration (FDA), Food Manufacturers, GRAS

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Tracie Renfroe

EPA’s Draft Strategic Plan Emphasizes Resilience and Adaption to Climate Change

This Client Alert—Part 2 of an ongoing series—provides an overview of one of EPA’s key objectives in its draft Strategic Plan: Developing resilience and adaptation to climate change impacts. Other alerts in the series can be…more

Center for Biological Diversity, Climate Change, Endangered Species Act (ESA), Enforcement, Environmental Protection Agency (EPA)

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Jessica Rennert

Reconsider That Term Sheet: DOJ "Safe Harbor Policy" Announcement Incentivizes Merger-Related Disclosures

On October 4, 2023, the Department of Justice’s (“DOJ”) Deputy Attorney General Lisa Monaco announced a new “Mergers & Acquisitions Safe Harbor Policy” (“M&A Safe Harbor Policy” or “Policy”) for companies that voluntarily…more

Acquisitions, Corporate Misconduct, Department of Justice (DOJ), Disclosure, Disgorgement

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Mike Resch

It’s Not Just for Dietary Supplements Anymore: FTC Revises and Expands Guidance for Health Claims

Signaling a renewed focus on consumer protection in the health claims space, the Federal Trade Commission (“FTC”) has revamped its 1998 guidance titled Dietary Supplements: An Advertising Guide for Industry and extended the…more

Consumer Protection Laws, Dietary Supplements, Digital Health, Federal Trade Commission (FTC), Food and Drug Administration (FDA)

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Neal Reynolds

U.S. International Trade Commission to Investigate Potential Waiver of International Intellectual Property Rights for COVID-19 Diagnostics and Therapeutics

On February 1, 2023, the U.S. International Trade Commission (the “ITC”) initiated an investigation into the impact of intellectual property (“IP”) rights on the production, supply, and availability of diagnostics and…more

Coronavirus/COVID-19, Intellectual Property Protection, International Trade Commission (ITC), Supply Chain, TRIPS Agreement

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Bethany Rezek

The Shift in M&A Litigation From Delaware to Federal Court: Has the Song Remained the Same?

Federal securities class action filings continued their record pace during the first half of 2018, bolstered by the recent uptick in M&A-related filings, which comprised 50% of the overall cases. In these M&A cases, a plaintiff…more

Acquisitions, Class Action, Financial Services Industry, Mergers

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William Rice

FERC Proposes to Amend its PURPA Regulations to Recognize Hydrogen Production in Certain Fuel Cell Systems as Useful Thermal Energy in Qualifying Cogeneration Facilities

Hydrogen as a fuel for industrial applications, transportation, distribution and power generation, and for energy storage, is gaining worldwide momentum as a key component in the pursuit of decarbonization. The Federal Energy…more

Federal Register, FERC, Hydrogen Power, Natural Gas, New Regulations

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Russell Richards

Delaware Court of Chancery Dismisses Litigation Arising from Controller Buyout of Books-A-Million Under "MFW" Framework

On October 10, 2016, the Delaware Court of Chancery issued its decision in In re Books-A-Million, Inc. Stockholders Litigation. The decision, authored by Vice Chancellor J. Travis Laster, is important because it applies the…more

Acquisitions, Bad Faith, Board of Directors, Business Judgment Rule, Buyouts

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Bruce L. Richardson

Energy Newsletter - October 2016

Negotiating an In-Project Construction Dispute - Many thorny and competing interests are implicated when an ongoing major construction project experiences an unanticipated event that impacts the project schedule or costs,…more

Construction Contracts, Construction Industry, Construction Project, De Novo Standard of Review, Due Process

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John Richter

The Department of Justice Announces a New Program to Pay Financial Rewards to Whistleblowers for Information About Corporate Crimes

On March 7, 2024, Deputy Attorney General Lisa Monaco announced that the Justice Department intends to offer new financial incentives for whistleblowers to report allegations about white collar crimes that result in asset…more

Compensation, Corporate Crimes, Corporate Misconduct, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

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George Ricks

Avoiding an Ambiguous Hold Harmless Clause: What Every Lender Should Consider

Lenders rely on indemnification and hold harmless provisions in commitment and engagement letters to protect against claims that may be brought not only by third parties but by borrowers and their affiliates as well. Such…more

Ambiguous, Commitment Letter, Damages, Engagement Letters, Hold Harmless

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Justin Riess

FASB Clarifies Revenue Recognition of Initial Franchise Fees (ASC 606)

This past Monday, November 5, 2018, the Financial Accounting Standards Board (“FASB”) published much-sought after guidance regarding the recognition of franchise fees under Accounting Standard Codification 606, Revenue…more

Accounting Standards, FASB, Financial Services Industry, GAAP

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Malek Al Rifai

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Jessica Ringel

Predetermined Change Control Plans (PCCPs) for Medical Devices: FDA Issues Draft Guidance

On August 22, 2024, the U.S. Food and Drug Administration (FDA or Agency) issued a draft guidance entitled, Predetermined Change Control Plans for Medical Devices. The draft guidance describes how FDA plans to implement new…more

510(k) RTA, Applications, Artificial Intelligence, Draft Guidance, Federal Food Drug and Cosmetic Act (FFDCA)

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Ed Ripley

Energy Newsletter - June 2018

Lessons for Sellers in Contracting with Emerging Market Buyers: The “Three R’s” to Structuring Payment Security Provisions - The recent rebound in the international energy industry is being driven, at least in part, by a…more

BSEE, Cloud Computing, Energy Policy, Energy Sector, Exports

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Philip Rizk

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Steven Rizzi

The Anti-Money Laundering Act and Crypto Collide: Non-Fungible Tokens

As NFTs gain popularity, buyers and sellers should consider the potential issues related to federal anti-money laundering laws. While non-fungible tokens (“NFTs”) have existed for several years, the market for NFTs grew…more

Anti-Money Laundering, Bank Secrecy Act, Bitcoin, Blockchain, Compliance

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Kim Roberts

EU AI Office Issues Call for Participants to Draft AI Code of Practice

Just days before the European Union Artificial Intelligence Act (AI Act”) went into force on August 1, 2024, the EU AI Office announced a call for expression of interest to assist with drafting the AI Code of Practice mandated…more

Artificial Intelligence, Copyright, Documentation, EU, Machine Learning

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Matthew Roberts

Regulation S-X Updates and the Pro Forma EBITDA Add-back

On May 21, 2020, the Securities and Exchange Commission (the “SEC”) adopted amendments to the financial disclosure requirements in Regulation S-X (the SEC’s accounting rules for the form and content of financial statements…more

Borrowers, EBITDA, Financial Statements, Lenders, Management Adjustments

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Mitchell Robertson

"Gig" Economy - Emerging Themes and Global Perspectives

On-demand workers (“gig workers”) represent a growing portion of the global workforce. While the continued growth of this category presents opportunities for employers to recalibrate their workforce strategy, it also creates…more

Employee Definition, Gig Economy, Independent Contractors, Misclassification, Unions

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Randall Robinson

ILPA Updates Guidance on Continuation Funds

In May, the Institutional Limited Partners Association (ILPA) introduced its long-awaited guidance on Continuation Funds. LPs have, in ILPA’s view, become “increasingly frustrated” with timeframes and economics in these complex…more

Carried Interest, Disclosure Requirements, Due Diligence, Guidance Update, Institutional Limited Partners Association (ILPA)

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Adam Robison

United States District Court in Florida Holds False Claims Act Qui Tam Provision Unconstitutional

On September 30, 2024, a federal district court in Florida held the qui tam enforcement provision of the False Claims Act (“FCA”), which permits private citizens to pursue actions in the name of and on behalf of the government,…more

Appointments Clause, Article II, False Claims Act (FCA), Federal Rules of Civil Procedure, Florida

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William Roche

Washington Insight - September 2016

House Financial Services Committee Votes To Repeal And Replace Dodd-Frank - On September 13th, the House Financial Services Committee approved the Financial CHOICE Act of 2016 to repeal and replace key parts of the 2010…more

Broker-Dealer, Class Action, Commercial Real Estate Market, Consumer Financial Protection Bureau (CFPB), Cyber Threats

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Kirstin Rodrigues

CMS Revises Immediate Jeopardy Citation Guidance

On March 5, 2019, CMS issued new guidance for surveyors to identify immediate jeopardy cases. CMS revised the previous version of Appendix Q to clarify and increase consistency for identifying immediate jeopardy and…more

Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Hospitals, New Guidance

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Graciela Rodriguez

ESG Agenda

BlackRock Doubles Down on Sustainability - • BlackRock signals substantially more assertive posture on climate-related issues • New approach to shareholder proposals saw BlackRock support 54% of environmental and social…more

Benchmarking, BlackRock, Climate Change, Coronavirus/COVID-19, Diversity and Inclusion Standards (D&I)

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Kim Roeder

CMS Proposes Sweeping Changes to the Medicare Shared Savings Program

As part of the CY 2023 Physician Fee Schedule proposed rule (the Proposed Rule) released on July 7, 2022, CMS has proposed significant changes to the Medicare Shared Savings Program (MSSP). The agency’s press release…more

ACOs, Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Medicaid, Medicare

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Audrey Rogers

REIT Going-Private Transactions

Current market conditions have set the stage for a wave of REIT public-to-private transactions. For private equity funds, flush with record levels of cash, REITs trading at a discount to net asset value represent an attractive…more

Private Equity Funds, REIT, Shareholders

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Daniel Rogers

Energy Newsletter - July 2018

The New Midstream Transactions - A recent trend in the upstream and midstream oil and gas industry is for midstream services providers to offer certain forms of additional compensation to oil and gas lessees / operators…more

Environmental Policies, EU, Imports, Liquid Natural Gas, NEPA

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Anna Romanova

Cryptocurrency: Legal Developments and Outlook

Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants…more

Anti-Money Laundering, Bitcoin, Bitcoin Mining, Blockchain, CFIUS

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Luke Roniger

House Passes FIT21 – What does it say, and what does it mean for digital asset providers?

On, May 22, 2024, the U.S. House of Representatives passed H.R. 4763, Financial Innovation for Technology for the 21st Century Act (“FIT21”). The legislation was touted by the House Financial Services Committee’s Chairman,…more

Blockchain, CFTC, Digital Assets, Disclosure Requirements, Enforcement

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Charles Rosenberg

EU and Ukraine to recognize and enforce each other’s court decisions

On April 24, 2023, the EU Council announced that it will seek treaty relations with Ukraine under the framework of the 2019 Hague Convention on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters…more

Enforcement, EU, Foreign Judgments, Hague Convention, Ukraine

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Rod Rosenstein

Attorney General of the United States v. Wynn: D.C. Circuit Rules Out Injunctive Relief for Past FARA Violations, Leaving Criminal Prosecution as the Only Remedy

On June 14, 2024, a panel of the U.S. Court of Appeals for the District of Columbia held that the Department of Justice (DOJ) may not seek an injunction to compel retroactive registration under the Foreign Agents Registration…more

Criminal Prosecution, Department of Justice (DOJ), Foreign Agents Registration Act (FARA), Injunctive Relief, National Security

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Matthew Benjamin Rosenthal

ESG and Securities Litigation

Recent Trends Show Increased Focus on Allegations of "Greenwashing" Over the past few years, regulators, businesses, and the market in general have become increasingly focused on environmental, social, and governance (“ESG”)…more

Climate Change, Disclosure Requirements, Diversity, Enforcement Actions, Environmental Social & Governance (ESG)

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Kristin Roshelli

U.S. House of Representatives Passes Drug-Pricing Bill

On December 12, 2019, the U.S. House of Representatives passed a major Democratic drug-pricing bill, H.R. 3, or the “Elijah E. Cummings Lower Drug Costs Now Act.” If enacted, HHS would be allowed to negotiate the prices of up…more

Health Care Providers, Medicare, Medicare Part D, Pending Legislation, Pharmaceutical Industry

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Alexandra Rotar

Energy Newsletter - August 2019

Significant Changes to FERC’s Rules for Market-Based Rate Sellers - On July 18, 2019, the Federal Energy Regulatory Commission (“FERC”) issued two orders modifying its rules for sellers to obtain or retain authorization to…more

Energy Sector, FERC, Intercreditor Agreements, ISO/RTO, Latin America

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Anthony Rothermel

Share Price/NAV Disconnects in Current Markets

The last several weeks generated a dislocation in the capital markets not seen since the Great Recession or, in many instances, ever. REIT stocks as a group have been hit hard with the RMZ down approximately 34.41% over the…more

Economic Downturn, Real Estate Investments, Real Estate Market, REIT

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Erica Row

California's 2022 Proposed Labor and Employment Laws - Pending Legislation that Employers Should Monitor

California employers, both new and old, should take note of pending bills that could further expand companies’ legal responsibilities under California’s extensive and unique labor and employment laws. Below is a sampling of the…more

California, California Privacy Rights Act (CPRA), Corporate Counsel, DFEH, EEO-1

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Vincent Rowan

Take No Notice and Wa(i)ve Goodbye to Claims

Takeaways From a Recent English Court Case on Notice Obligations - Many construction contracts provide that the contractor’s entitlement to an extension of time and/or additional cost is conditional upon the service of a…more

Contract Terms, Estoppel, FIDIC Contracts, Liquidation, Notice Requirements

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Sean Royall

FTC Issues Near-Total Ban on Non-Competes in Final Rule, with a Narrow Exception for Existing Agreements with “Senior Executives”

On April 23, 2024, the Federal Trade Commission (FTC), in a party-line vote, approved its final rule banning most non-compete agreements. The final rule bans all non-competes nationwide, including de facto non-competes,…more

Corporate Executives, Department of Labor (DOL), Employment Contract, Federal Bans, Federal Trade Commission (FTC)

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Samuel Rubinstein

NLRB General Counsel Announces Intention to Pursue Expansive Remedies for Non-Compete Agreements and to Target So-Called “Stay or Pay” Agreements

On October 7, 2024, National Labor Relations Board (“NLRB”) General Counsel Jennifer A. Abruzzo issued Memorandum GC 25-01, where she argues for expansive remedies for employers who violate the National Labor Relations Act…more

Breach of Contract, Compensation, Enforcement, New Guidance, NLRA

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Emily Rubino

Bankruptcy Appellate Panel of the Tenth Circuit Rejects Claw Back for Third Party Guaranty

On February 21, 2024, the U.S. Bankruptcy Appellate Panel of the Tenth Circuit held that a debtor who receives several direct benefits from a loan to an operating company has received “reasonably equivalent value” in exchange…more

Bankruptcy Trustees, Chapter 7, Clawbacks, Commercial Bankruptcy, Fraud

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Patrick Runge

EPA's New Actions in the Battery Industry May Promote Uniformity

The United States Environmental Protection Agency (“EPA”) issued a voluntary Request for Information (“RFI”) on June 9, 2022, regarding best practices for battery recycling and labeling guidelines. 87 Fed. Reg. 35,202. The RFI…more

Battery, Department of Labor (DOL), Infrastructure Investment and Jobs Act (IIJA), Labeling, Lithium Batteries

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Michael Rupe

Not in My Court: Northern District of Texas Bankruptcy Court Dismisses NRA Bankruptcy Cases as Filed in Bad Faith

On May 11, 2021, Judge Harlin D. Hale, of the Bankruptcy Court for the Northern District of Texas (the “Court”) found that the bankruptcy cases of the National Rifle Association of America (“NRA”) and its subsidiary Sea Girt LLC…more

Bad Faith, Bankruptcy Code, Bankruptcy Court, Chapter 11, Dismissals

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Bethany Rupert

Supreme Court Decision on Computer Fraud and Abuse Act: Implications for Cybersecurity and Insider Threat Programs

Earlier this month, the Supreme Court issued its first major decision on the Computer Fraud and Abuse Act (“CFAA”) in Van Buren v. United States. The decision has significant implications for how organizations protect…more

Computer Fraud and Abuse Act (CFAA), Databases, Police, Popular, SCOTUS

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Gillian Russell

FDA Issues Updated Draft Guidance on Addressing Misinformation About Medical Devices and Prescription Drugs

On July 8, 2024, the U.S. Food and Drug Administration (“FDA”) issued a new draft guidance for industry titled, Addressing Misinformation About Medical Devices and Prescription Drugs – Questions and Answers (hereafter,…more

Advertising, Disclosure Requirements, Draft Guidance, Enforcement, False Advertising

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Joshua Rutstein

ESG Impact Watch: Blockchain

Blockchain technology is increasing in popularity across industries but, in its current iteration, triggers significant environmental, social, and governance (ESG) considerations. As the financial services sector simultaneously…more

Blockchain, Data Mining, Digital Ledger Technology, Environmental Social & Governance (ESG), Greenhouse Gas Emissions

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Russell Ryan

Repairing A “Crack” in Insider Trading Regulation: SEC Rule 10b5-1 Trading Plans Face Increased Scrutiny

SEC Rule 10b5-1 plans have long provided an effective means for corporate insiders to buy and sell their own company’s securities without fear of civil or criminal insider trading liability, but these plans have come under…more

Administrative Orders, Disclosure Requirements, EDGAR, Enforcement Actions, Good Faith

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Ryan McNaughton

NAIC Developments Affecting Insurer Investment Portfolios

This bulletin discusses pending actions of the (a) National Association of Insurance Commissioners (NAIC) Valuation of Securities (E) Task Force (VOS Task Force) to address certain issues associated with insurer investments in…more

Arbitrage, Bonds, Credit Ratings, Feeder Funds, Insurance Industry

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Stanislav Rzhaksenskiy

Energy Newsletter - September 2018

A Texas Federal Judge Turns Up the Heat on Oil Companies Facing Climate Change-Related Securities Class Actions - On August 14, 2018, the United States District Court for the Northern District of Texas issued a surprisingly…more

Abu Dhabi Global Markets (ADGM), Climate Change, Environmental Protection Agency (EPA), EU, Exxon Mobil

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Jessica Sabbath

Best Practices for Conducting Arbitration Hearings Remotely

If you reside on the East Coast of the United States, in the span of twenty years, you have lived through a devastating terrorist attack, a once-in-a-century Super Storm, and now, a global coronavirus pandemic. Each of these…more

Arbitration, Arbitrators, Coronavirus/COVID-19, Dispute Resolution, Remote Working

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Cheryl Sabnis

New Obama Administration Employment-based Visa Rule and Trump's Plan to Target Visa Abuse Create Uncertainty For Employers

President-elect Trump made enforcement of immigration laws a centerpiece of his campaign. On November 21, 2016, Mr. Trump stated that he will make investigation of abuses in “visa programs that undercut the American worker” a…more

Department of Homeland Security (DHS), Department of Labor (DOL), Enforcement, H-1B, Presidential Elections

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Russell Sacks

FinCEN Issues Final Rule Expanding Anti-Money Laundering/ Countering the Financing of Terrorism Requirements for Investment Advisers

On September 4, 2024, the Financial Crimes Enforcement Network (“FinCEN”), U.S. Department of Treasury, published a final rule (the “Final Rule”) expanding the definition of “financial institution” under the Bank Secrecy Act…more

AML/CFT, Anti-Money Laundering, Anti-Terrorism Financing, Asset Management, Bank Secrecy Act

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Asal Saghari

The 2024 UAE Financial Restructuring and Bankruptcy Law: What is New?

On 31 October 2023, Federal Law Decree No. (51) concerning Financial Restructuring and Bankruptcy (the New Law) was published in the UAE Federal Gazette. The New Law comes into force on 1 May 2024 and will repeal the 2016 Law on…more

Automatic Stay, Bankruptcy Court, Bankruptcy Trustees, Commercial Bankruptcy, Creditors

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Amirah Salaam

A National Call for Equity

Shifting from Diversity and Inclusion to Diversity, Equity, and Inclusion in the Workplace - Given the events related to the tragic death of George Floyd, Breonna Taylor, Ahmaud Arbery and countless others in May 2020 and…more

Best Practices, C-Suite Executives, Corporate Culture, Diversity, Diversity and Inclusion Standards (D&I)

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Moustafa Said

Measure - Spring 2018

Welcome to the Spring 2018 issue of measure, King & Spalding’s Middle East periodic newsletter. Following a host of legal developments in the region over recent months, we look at the following in this issue: ..Noting that…more

Capital Markets, Confidential Information, Data Protection, Health Care Providers, Initial Coin Offering (ICOs)

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Daniel Sale

DOJ Corporate Enforcement Policy Revisions Target Executive Compensation, Following Multi-Agency Trend

On March 2, 2023 and March 3, 2023, in a pair of speeches by Deputy Attorney General (DAG) Lisa Monaco and Criminal Division Assistant Attorney General (AAG) Kenneth Polite, the U.S. Department of Justice (DOJ) announced…more

Clawbacks, Compliance, Corporate Crimes, Corporate Integrity Agreement, Corporate Misconduct

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Nadia Saleem

Energy Newsletter - July 2019

Choose Your Own Adventure: Farmouts of International Oil & Gas Interests and the AIPN 2019 Model Form - When I teach about the Association of International Petroleum Negotiator’s (AIPN) Model International Farmout Agreement…more

Assignments, Chapter 11, Clean Energy, Commercial Bankruptcy, Default

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Myrna Salinas Baumann

D.C. Developments: Expanded Paid Leave for Private Sector Employees and Revised Non-Compete Law

Effective October 1, 2022, employers with employees who provide a significant portion of their services in the District of Columbia (“D.C.”) are impacted by two important changes: (i) the expansion of mandatory paid leave…more

Covered Employees, Exceptions, Family and Medical Leave Act (FMLA), Highly Compensated Employees, Non-Compete Agreements

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Ilana Saltzbart

EPA Approves Indirect Source Rule to Reduce Emissions from Warehouses in Southern California Air District, Potentially Paving the Way for Other Air Regulators Across the United States to Issue Similar Rules

On September 11, 2024, the U.S. Environmental Protection Agency (“EPA”) approved under the Clean Air Act (“CAA”) an indirect source rule that is intended to reduce emissions associated with warehouses located within the South…more

Airline Deregulation Act, California, Clean Air Act, Enforcement, Environmental Protection Agency (EPA)

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D. Kyle Sampson

Predetermined Change Control Plans (PCCPs) for Medical Devices: FDA Issues Draft Guidance

On August 22, 2024, the U.S. Food and Drug Administration (FDA or Agency) issued a draft guidance entitled, Predetermined Change Control Plans for Medical Devices. The draft guidance describes how FDA plans to implement new…more

510(k) RTA, Applications, Artificial Intelligence, Draft Guidance, Federal Food Drug and Cosmetic Act (FFDCA)

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Matthew John Sandiford

FASB Proposes New "Practical Expedient" to Recognition of Initial Franchise Fees (ASC 606)

On September 21, 2020, the Financial Accounting Standards Board (“FASB”) announced a proposed Accounting Standards Update (“ASU”), that if enacted, would provide a “practical expedient”, simplifying the analysis supporting the…more

Accounting Standards, FASB, Franchise Agreements, Franchise Fees, New Guidance

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Jinouth Vasquez Santos

Start Aiming Now: Employers Have One Year Left to Ensure Compliance with The California Privacy Rights Act (CPRA)

Effective January 1, 2023, the California Privacy Rights Act (“CPRA”), will expand the California Consumer Privacy Act (“CCPA”) by granting employees additional rights over their personal information. Employers will now be…more

California, California Privacy Rights Act (CPRA), Corporate Counsel, Data Collection, Employees

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William Sauers

Energy Newsletter - February 2020

U.S. Government’s Continued Focus on Large Ship Air Emissions - The U.S. Environmental Protection Agency (“EPA”) and the U.S. Coast Guard (“USCG”) continue to signal interest in addressing air pollution from large ships and…more

Air Pollution, Air Quality Standards, Carbon Emissions, Energy Sector, Environmental Policies

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Heather Saul

Gas Stove Ban Update: Ninth Circuit Says "No" to City of Berkeley Ban on Gas Stoves

The gas stove wars continue to heat up. On April 17, 2023, the United States Court of Appeals for the Ninth Circuit took a stand and ruled that the City of Berkeley does not have the authority to prohibit connecting natural gas…more

Appeals, Consumer Product Safety Commission (CPSC), Department of Energy (DOE), ECPA, Natural Gas

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Mathew Saur

A New Era For Activist Defense: Going Beyond the Relics of the 80s

New Market Paradigm and Pandemic Impact Requires New Solutions for U.S. Public Companies - After years of tremendous economic growth, COVID-19 has unleashed unprecedented market volatility and extreme value dislocations for…more

Coronavirus/COVID-19, Corporate Governance, Corporate Strategy, Disclosure Requirements, Publicly-Traded Companies

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Christine Savage

Biden Administration Issues Proposed Rule Targeting “Connected Vehicles” Tied to China or Russia

The Proposed Rule imposes substantial new reporting, diligence, and compliance obligations for companies in the automotive supply chain - On September 26, 2024, the U.S. Department of Commerce’s Bureau of Industry and…more

Advanced Notice of Proposed Rulemaking (ANPRM), Advisory Opinions, Automation Systems, Automotive Industry, Biden Administration

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John Savage, QC

Russia’s Recent Actions Against Foreign Investors Will Give Rise to Claims Under International Investment Treaties

Since the Russian Federation’s invasion of Ukraine, more than 400 international companies have announced their intentions to scale back or shut down their business operations in Russia. Russia has responded to the exodus of…more

Bilateral Investment Treaties, Economic Sanctions, Energy Charter Treaty, Foreign Investment, Military Conflict

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Jan Schaefer

Insights from the First SCC Express Dispute Assessment

Sweden is no stranger to innovations – from energy, to furniture, to music – and international arbitration is no exception. Indeed, the SCC Arbitration Institute (SCC) proudly refers to itself as the one of the leading…more

Arbitration, Dispute Resolution, Expedited Actions Process, International Arbitration, SCC

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Dr. Axel Schilder

News on Potential Relaxation of EU Green Hydrogen Rules

In June 2023 the European Union (“EU”) adopted its definition of green hydrogen and derivatives (known as “renewable fuels of non-biological origin”, or “RFNBO”). See our previous client alert summarising the key aspects of the …more

EU, European Commission, Final Rules, Hydrogen Power, Renewable Energy

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Brett Schlossberg

OMB Releases Cybersecurity Report On Federal Agencies

On May 30, the Office of Management and Budget (“OMB”) released the Federal Cybersecurity Risk Determination Report and Action Plan (the “Report”). The Report is the result of investigations ordered by President Trump pursuant…more

Cybersecurity, Executive Orders, OMB, Popular

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Nicholas Schmidt

Recent Executive Order Addresses Privacy

On July 9, 2021, the Biden administration published an executive order focused on promoting and increasing economic competition. While the bulk of the executive order focuses on increased scrutiny of merger activity, two notable…more

Biden Administration, Consumer Financial Protection Bureau (CFPB), Dodd-Frank, Executive Orders, Federal Trade Commission (FTC)

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Elizabeth Schmidtlein Crockett

FDA Reverses HHS Exemption of Class I and Class II Medical Devices from Section 510(k)

Premarket Notification Again Required for Patient and Surgeon's Examination Gloves and Dozens of Class II Devices Proposed for Exemption by Former HHS Secretary - On April 16, 2021, the Food and Drug Administration (“FDA” or…more

Department of Health and Human Services (HHS), Exemptions, Federal Food Drug and Cosmetic Act (FFDCA), Federal Register, Food and Drug Administration (FDA)

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Daniel Schneiderman

USTR Ambassador Tai Provides New Details About the Administration's China Trade Policy

Existing Section 301 duties to be kept in place; new exclusion process to be implemented - This morning, at the Center for Strategic and International Studies, U.S. Trade Representative Ambassador Katherine Tai provided new…more

China, Tariffs, Trade Policy, USTR

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Frank Schoen

What is Happening to My LIBOR Now? Simplification of the ARRC’s Hardwired Approach

On March 25, 2021, the Alternative Reference Rates Committee (the “ARRC”) issued supplemental guidance to its recommended hardwired fallback language for U.S. dollar LIBOR denominated syndicated and bilateral business loans. The…more

Alternative Reference Rates Committee (ARRC), Financial Conduct Authority (FCA), ICE Benchmark Administration (IBA), IOSCO, Libor

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Sarah Schofield

Eleventh Circuit Holds that D’Oench Doctrine Bars Lack of Authority Defense

On January 12, 2023, the U.S. Court of Appeals for the Eleventh Circuit reversed the dismissal of a claim against Renasant Bank seeking to invalidate a security interest that Renasant acquired through an FDIC receivership…more

Appeals, D’Oench Doctrine, FDIC, Security Agreements

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Brett Schroeder

From the Chat Room to the Board Room – Knowing Your Meme Stock

WHAT TO CONSIDER TO AVOID A SPIRAL, IF YOUR COMPANY IS THE NEXT TO GO VIRAL. The recent meteoric rise (and subsequent fall) of GameStop, AMC Theaters and a host of other “meme stocks” has prompted hedge funds, investment…more

GameStop, Hedge Funds, Internet Memes, Investment, Investment Banks

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Jeremy Schropp

2023 M&A Outlook: Recapping Key Takeaways from Dealmaking in 2022 and Navigating New Challenges

Coming off record-setting levels in 2021, M&A deal activity cooled in the second half of 2022. A multitude of factors – including soaring inflation, steadily rising interest rates and the higher cost of financing, geopolitical…more

Acquisitions, Borrowers, Corporate Counsel, Department of Justice (DOJ), Domestic Dealmaking

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Patrick Schumann

The 2024 UAE Financial Restructuring and Bankruptcy Law: What is New?

On 31 October 2023, Federal Law Decree No. (51) concerning Financial Restructuring and Bankruptcy (the New Law) was published in the UAE Federal Gazette. The New Law comes into force on 1 May 2024 and will repeal the 2016 Law on…more

Automatic Stay, Bankruptcy Court, Bankruptcy Trustees, Commercial Bankruptcy, Creditors

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Marcel Schuster

BGH erklärt sog. Schriftformheilungsklauseln in Gewerberaummietverträgen für unwirksam

Der für das Gewerberaummietrecht zuständige 12. Zivilsenat des Bundesgerichtshofs („BGH“) hat am 27.09.2017 mit einem Paukenschlag die hier beigefügte Entscheidung verkündet, in welchem er zu der seit einigen Jahren kontrovers…more

Commercial Leases, Germany, Tenants

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Roger Schwartz

Utilizing Structured Finance Techniques in Distressed Situations

Securitization, and structured finance generally, is a critical capital-raising tool for many companies. Utilizing one or more bankruptcy-remote special purpose entities to legally isolate the credit risk of quality,…more

Bankruptcy Code, Bankruptcy Court, Capital Raising, Contingency Plans, Credit Enhancements

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Dr. Jonas Schwarz

Recognition of Part 26A Restructuring Plans in Germany

German real estate company Adler recently made headlines by successfully implementing a €6bn restructuring by way of a UK Part 26A Restructuring Plan. The Plan involved the subordination of Adler’s existing notes to new money…more

Debt Collection, EU, Foreign Judgments, Germany, Hague Convention

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Renzo Seminario Cordova

Pedro Castillo’s failed coup d’état plunges Peru into political turmoil

On December 7, 2022, the Peruvian Congress was scheduled to call an impeachment vote against President Pedro Castillo on corruption charges. Hours before, the Peruvian President addressed the country in a surprise televised…more

Anti-Corruption, Foreign Direct Investment, Mining, Peru

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Mark Sentenac

HHS Advisory Opinion Buttresses Broad Immunity Under PREP Act For COVID-19 Countermeasures But Important Considerations For Manufacturers Remain

The U.S. government has taken several steps in recent weeks to encourage companies to respond rapidly to the COVID-19 pandemic and resulting medical-supply shortage. As discussed here, to assuage concerns about potential tort…more

Coronavirus/COVID-19, Department of Health and Human Services (HHS), Food and Drug Administration (FDA), Immunity, Public Readiness and Emergency Preparedness Act (PREP Act)

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Michael Shagrin

FTC Proposes Stricter Children’s Privacy Rules in First COPPA Update since 2013

On December 20, 2023, the Federal Trade Commission (FTC) announced proposed revisions to its rules administering the Children’s Online Privacy Protection Act (COPPA). The updates both expand the universe of businesses subject to…more

Biometric Information, COPPA, Cybersecurity, Data Collection, Data Privacy

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John Shakow

Major Shift in Best Price Proposed in Grab Bag of MDRP Reforms

The title of CMS’s May 26 proposed rule, “Misclassification of Drugs, Program Administration and Program Integrity Updates Under the MDRP,” buries the lede. Amid twenty Medicaid Drug Rebate Program-related proposals—some…more

Audits, Centers for Medicare & Medicaid Services (CMS), Fraud, Manufacturers, MDRP

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Jeffrey Shapiro

Predetermined Change Control Plans (PCCPs) for Medical Devices: FDA Issues Draft Guidance

On August 22, 2024, the U.S. Food and Drug Administration (FDA or Agency) issued a draft guidance entitled, Predetermined Change Control Plans for Medical Devices. The draft guidance describes how FDA plans to implement new…more

510(k) RTA, Applications, Artificial Intelligence, Draft Guidance, Federal Food Drug and Cosmetic Act (FFDCA)

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Abraham Shashy, Jr.

Treasury Issues Final Regulations Addressing “Domestically Controlled” REIT Status

On April 25, 2024, the IRS and Treasury issued final regulations (the “Final Regulations”) addressing whether a real estate investment trust (a “REIT”) or a regulated investment company (a “RIC”) will constitute a “domestically…more

C-Corporation, Fair Market Value, Final Rules, FIRPTA, Income Taxes

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Hugo Shaw

Equality of Arms Between Experts: English High Court Offers Forceful Reminder by Excluding Expert Evidence Mid-Trial

A recent decision issued by the Technology and Construction Court has provided a helpful reminder for experts, counsel and clients of the importance of ensuring equality of arms between experts and, in that connection, of…more

Disclosure Requirements, Expert Witness, Rules of Civil Procedure

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David Shea

EPA Announces Four Public Meetings of the Scientific Advisory Board PFAS Review Panel

EPA has announced four public meetings of the Scientific Advisory Board PFAS Review Panel to take place in December and January. The proposed agenda is robust and includes at least three core components. First, the Panel will…more

Advisory Board, Drinking Water, Environmental Protection Agency (EPA), PFAS, Public Health

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Kyle Sheahen

Managing Global Risks in Light of the Pandora Papers Leak

On October 3, the International Consortium of Investigative Journalists began reporting on millions of confidential documents relating to the financial activities of heads of state, international business leaders, and other…more

Business Partners, Criminal Investigations, Data Collection, Documentation, Enforcement

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Rachel Shepardson

NAV Facilities

In its most simple form, a net asset value-based facility (“NAV Facility”) is a credit facility, whereby availability under the facility is based on the net asset value of the portfolio investments of the borrower, often a…more

Default, Interest Rates, Investors, Liquidity, NAV

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Jordan Shepherd

Trade & Manufacturing - News of Note - January 2017

Customs and Border Protection Issues Update On Enforcement Of Trade Orders - U.S. Customs and Border Protection (CBP) released its AD/CVD Update for June/July 2016. As explained in the January 2015 and the August 2016…more

Anti-Dumping Duty, Canada, China, Countervailing Duties, Customs and Border Protection

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Leia Clement Shermohammed

US Supreme Court Concludes Debtors May Not Terminate Trademark Rights of Licensees by Rejection in Bankruptcy, Resolving Circuit Split

On May 20, 2019, the U.S. Supreme Court held that rejection of a trademark license does not automatically terminate the licensee’s right to use the trademark, settling a decades-old question at the intersection of intellectual…more

Bankruptcy Appellate Panel (BAP), Bankruptcy Code, Breach of Contract, Commercial Bankruptcy, Debtors

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Devon Sherrell

EPA Announces Four Public Meetings of the Scientific Advisory Board PFAS Review Panel

EPA has announced four public meetings of the Scientific Advisory Board PFAS Review Panel to take place in December and January. The proposed agenda is robust and includes at least three core components. First, the Panel will…more

Advisory Board, Drinking Water, Environmental Protection Agency (EPA), PFAS, Public Health

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Shalin Sheth

Strategic Alternatives for Real Estate Portfolios Part III – Initial Public Offering (IPO) Transactions

The review of strategic alternatives can be a daunting task even for the most seasoned executives and directors of real estate companies and real estate investment trusts. This is particularly true in today’s real estate…more

Acquisitions, Capital Markets, Initial Public Offering (IPO), Liquidity, Real Estate Market

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Daisuke Shimodaira

ESG Trending Topics - Japan

Japan’s Big Banks Bet on Infrastructure + ESG. In anticipation of increased infrastructure spending worldwide to meet countries’ net-zero carbon targets, Japanese banks Sumitomo Mitsui and MUFG have recently launched…more

Carbon Emissions, Electricity, Environmental Social & Governance (ESG), Infrastructure, Japan

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Jonathan Shin

Injunction Prohibiting CMS Enforcement of COVID-19 Vaccine Mandate for Healthcare Workers Partially Lifted, Potentially Opening Door for CMS to Resume Enforcement of Vaccine Mandate for Half of the U.S.

On Wednesday, December 15, 2021, the Fifth Circuit Court of Appeals denied the federal government’s petition for a stay pending appeal of the preliminary injunction issued by a federal district court in Louisiana that prohibits…more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Coronavirus/COVID-19, Employer Mandates, En Banc Review

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Stephen Shin

What Next for the ACA after Texas v. U.S.? What the Industry Needs to Know While the Case Is on Appeal

United States District Court Judge Reed O’Connor of the Northern District of Texas issued a ruling on Friday, December 14, 2018, declaring the Patient Protection and Affordable Care Act (ACA) unconstitutional in its entirety. …more

Affordable Care Act, Federal Taxes, SCOTUS, Tax Reform, Unconstitutional Condition

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Karen Shriver

Effect of New FTC Rule Banning Post-Employment Non-Compete Agreements on Executive Compensation Arrangement

On April 23, 2024, the Federal Trade Commission issued its final rule imposing a nationwide ban on employers using post-employment non-competes with current and former workers. Other than narrow exceptions for (1) existing…more

Clawbacks, Compliance, Executive Compensation, Federal Trade Commission (FTC), Final Rules

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Darren Shuler

Supreme Court Poised To Decide What Allegations Make The Grade In University Fee Case, With Broader Implications For ERISA Retirement Plan Fiduciaries

Last month, the U.S. Supreme Court heard argument in an ERISA case that could have sweeping ramifications for retirement plan fiduciaries. The case—Hughes v. Northwestern University—tees up a threshold question that has vexed…more

401k, Class Action, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

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Sayf Shuqair

UAE Introduces Substantial Amendments to Promotion Rules for Foreign Funds

The Securities and Commodities Authority of the United Arab Emirates (“SCA”) recently adopted certain changes to the rules governing the distribution of foreign funds in the UAE, pursuant to which several methods for…more

Foreign Investment, Private Funds, UAE Securities & Commodities Authority (the SCA), United Arab Emirates (UAE)

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Jennifer Siegel

CMS’s Hospital Readmissions Reduction Program May Not Be Used to Deny Individual Commercial Claims

The Hospital Readmissions Reduction Program (HRRP) is a Medicare value-based purchasing program that reduces payments to hospitals with excess readmissions. This performance program penalizes hospitals up to three percent of…more

Affordable Care Act, Centers for Medicare & Medicaid Services (CMS), Commercial Insurance Policies, Hospital Readmission, Hospitals

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Catherine Silas

Electronic Health Records Vendor Agrees to $155 Million Settlement to Resolve FCA Allegations, Required to Make Free Upgrades to Affected Products

On May 31, 2017, the DOJ announced a $155 million settlement with eClinicalWorks (ECW), one of the nation’s largest electronic health records (EHR) vendors, to resolve a False Claims Act lawsuit brought by a whistleblower. The…more

Corporate Integrity Agreement, Department of Health and Human Services (HHS), Electronic Health Record Incentives, False Claims Act (FCA), Medicaid

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Elizabeth Silbert

Anti-Satellite Tests and the Growing Demand for Space Debris Mitigation

The threat of anti-satellite (ASAT) weapons is once again front and center in the news, raising questions about norms for responsible state behavior in space. ASAT tests are used by countries to destroy or incapacitate…more

Aerospace, EU, Innovative Technology, NASA, Satellites

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Nika Silva

Pre-Marketing: Risks and Considerations Relating to Bespoke Securitization Transactions

The current volatility in financial markets has caused an increase in interest in pre-marketing certain bespoke securitization transactions, including esoteric, real estate-based, whole business, music royalty and digital…more

Appraisal, Due Diligence, Financial Markets, Indemnification, Investors

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Jillian Simons

American Privacy Rights Act of 2024 Insights

In April, House Committee on Energy and Commerce Chair Cathy McMorris Rodgers (R-WA) and Senate Committee on Commerce, Science and Transportation Chair Maria Cantwell (D-WA) introduced the American Privacy Rights Act of 2024…more

Consumer Privacy Rights, Data Privacy, Data Protection, Data Protection Acts, Legislative Agendas

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Heather Sims

A Business Court in Texas: What It Means for Litigants, Attorneys, and Commercial Law

After years of stalled attempts, Texas will soon be the thirtieth state to establish a specialized business court specifically designed to hear complex commercial cases. House Bill 19, recently approved by the Texas…more

Appeals, Business Court, Business Litigation, Jurisdiction, Penalties

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Stephen Sims

AIFMD II Credit Funds

Loan Origination Funds Have a Lot of Wood to Chop Before Aifmd II Kicks In - Following a review of the AIFMD, the Commission, in a draft amending directive published in 2021, noted that common rules should be laid down to…more

Alternative Investment Fund Managers Directive (AIFMD), Close-Ended Funds, Credit Funds, Disclosure Requirements, Documentation

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Bradford Paul Singh

EPA Updates Its Vehicle and Engine Tampering & Aftermarket Defeat Device Enforcement Policy

The updates attempt to provide more clarity for modern vehicles and parts - On November 23, 2020, the U.S. Environmental Protection Agency (“EPA”) updated its policy for enforcement of vehicle and engine tampering and…more

CARB, Clean Air Act, Environmental Protection Agency (EPA), Environmental Violations, Guidance Update

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Medhavi Singh

India to Promote Mining of Lithium and Five Other Critical Minerals

On 2 August 2023, India’s Parliament passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2023 (“Amendment Bill”) to amend the Mines and Minerals (Development and Regulation) Act, 1957 (“Act”). The Act…more

Atomic Energy, India, Mineral Exploration, Mineral Leases, Minerals

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Priya Sinha

OIG Report Concludes That CMS Needs to Strengthen its Oversight of Remote Patient Monitoring

On September 24, 2024, OIG released a report recommending that CMS exercise additional oversight of remote patient monitoring (RPM) services provided to Medicare beneficiaries. Medicare reimburses RPM for any chronic or acute…more

Centers for Medicare & Medicaid Services (CMS), Chronic Care Managment (CCM), Medicare Advantage, OIG, Reimbursements

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Lawrence Slovensky

CFPB Issues Final Rule Banning Class Action Waivers in Consumer Finance Contracts

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) announced a final Rule banning the use of class action waivers in a broad range of consumer finance agreements. The Rule, which was expected in light of prior…more

Arbitration, Arbitration Agreements, Class Action, Class Action Arbitration Waivers, Consumer Contracts

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Christopher Smith

U.S. Supreme Court Strikes Down “Wholly Groundless” Exception Where Parties Have Agreed to Arbitrate Arbitrators’ Jurisdiction

On January 8, 2019, the United States Supreme Court issued a unanimous decision in Henry Schein, Inc. et al. v. Archer & White Sales, Inc., No. 17–1272, 2019 WL 122164 (U.S. Jan. 8, 2019), in which the Court yet again considered…more

Appeals, Arbitration Agreements, Arbitrators, Contract Terms, Exceptions

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James Smith

SEC Adopts Final Climate Disclosure Rules

Proposed rules are moderately scaled-back in final version; Scope 1 and 2 are required if material; Scope 3 is out; compliance will still be burdensome - On March 6, 2024, by a split vote of 3-2, the U.S. Securities and…more

Climate Change, Compliance, Disclosure Requirements, Final Rules, Greenhouse Gas Emissions

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Michael Smith

Managing Securities Litigation Risks in a Time of Coronavirus Insecurities

Spiraling fears over the coronavirus and the multiplication of virus outbreaks across the globe have impacted the worldwide economy, threatened supply chains, and caused severe stock market declines and disruptions in the U.S…more

Coronavirus/COVID-19, Disclosure Requirements, Infectious Diseases, MD&A Statements, PSLRA

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Nathalie Smith

Personal Liability Exposure for Bank Executives and Compliance Officers

On March 4, 2020, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) announced its assessment of a civil monetary penalty totaling $450,000 against Michael LaFontaine, a former Chief Operational…more

Anti-Money Laundering, Bank Secrecy Act, Banking Sector, Enforcement Actions, FinCEN

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P. Lee Smith

Commerce Establishes Advisory Council on Trade Enforcement and Compliance

On January 4, the Department of Commerce (Commerce) announced the establishment of the Advisory Council on Trade Enforcement and Compliance (ACTEC). The ACTEC is a government-business forum that will seek “stakeholder input…more

Obama Administration, Trade Policy, U.S. Commerce Department

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Reginald Smith

Energy Newsletter - June 2020

The Impact of COVID-19 on Nuclear Electricity Sales Contracts in France - The electricity sector, like numerous others in France, has been heavily affected by the economic shutdown due to the COVID-19 pandemic. The first…more

Administrative Hearings, Amended Rules, CARB, Climate Change, Commercial Bankruptcy

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Timm Smith

Energy Newsletter - September 2020

Climate Change Litigation on the Horizon with Trump Environmental Overhaul - On July 16, 2020, President Trump’s Council on Environmental Quality (“CEQ”) published the long-awaited final rule revising the implementing…more

CEQ, CFIUS, Climate Change, Coronavirus/COVID-19, Debt Restructuring

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William Smith III

The Insider: Key Developments for Chief Legal Officers and Corporate Legal Teams

Welcome to the inaugural issue of The Insider. This new publication from King & Spalding’s Public Companies Practice, which will be produced periodically, is focused on key developments for chief legal officers and their…more

Attorney-Client Privilege, D&O Insurance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Duty to Monitor

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Ellen Marie Snare

FSOC and the Systemic Risk of Nonbank Companies

In a response to the difficulties it experienced in identifying nonbank systemically important entities, the Financial Stability Oversight Council (FSOC) has proposed a new procedure for detecting and dealing with potential…more

Dodd-Frank, Federal Reserve, FSOC, Nonbank Firms, Risk Assessment

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Terry Snell

New Russia Sanctions Legislation

The U.S. Senate passed this week a measure to codify, strengthen and expand sanctions against the Russian Federation in response to its activities in Ukraine, cyber-attacks, interference in the U.S. Presidential election, and…more

Energy Sector, Executive Orders, Oil & Gas, Russia, Sanctions

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Jesse Snyder

NIST Releases Series of AI Guidelines & Software in Ongoing Response to AI Executive Order

The U.S. Department of Commerce’s National Institute of Standards and Technology (“NIST”) recently announced the publication of three AI guidelines as well as its release of a software package aimed at helping organizations…more

Artificial Intelligence, Biden Administration, Cybersecurity, Executive Orders, Machine Learning

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Steven Snyder

D.C. Circuit Concludes that Serial Periods of Exclusivity May Be Available Under the Orphan Drug Act

On March 13, 2020, the U.S. Court of Appeals for the D.C. Circuit affirmed the D.C. District Court’s 2018 summary judgment ruling in favor of Eagle Pharmaceuticals and against the FDA, finding that (1) the Orphan Drug Act…more

Abbreviated New Drug Application (ANDA), Administrative Procedure Act, Food and Drug Administration (FDA), Orphan Drugs, Pharmaceutical Industry

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Adelarin Yemi-Sofumade

NAIC's Focus on Investment Management Agreements (IMAs) involving Private Equity-Owned Insurers

As private equity investors continue to increase their presence in the insurance industry with acquisitions of insurers and reinsurance of blocks of insurance contracts through insurer portfolio companies and segregated cells,…more

Conflicts of Interest, Insurance Industry, Investment Management, Investors, Life Insurance

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Marcus Sohlberg

Update – Sweden’s Request to Ban American Lobster in the EU Risks Violating the Rules of the WTO

In July 2016, we reported that the Swedish Government had requested that the European Union impose a ban on imports of U.S./Canadian live lobster (Homarus americanus). Sweden argues that Homarus americanus should be designated…more

EU, Food Borne Bacteria, Imports, Scientific Evidence, Sweden

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Adam Solander

HHS Office for Civil Rights Issues Guidance Regarding HIPAA Requirements for Online Tracking Technologies

On December 1, the Office for Civil Rights (OCR) at the U.S. Department of Health and Human Services provided guidance on the intersection of the Health Insurance Portability and Accountability Act (HIPAA) and the use of online…more

Business Associates Agreement (BAA), Data Protection, Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

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Glenn Solomon

Supreme Court Ruling in AHA v. Becerra May Affect 340B Hospitals' Reimbursement Rights Against Medicare Advantage Plans

Hospitals that participate in the 340B program may be entitled to additional monies from Medicare Advantage plans in the wake of the Supreme Court’s decision in AHA v. Becerra. In AHA v. Becerra, a unanimous Supreme Court…more

Ambulatory Surgery Centers, American Hospital Association et al v Becerra Secretary Of Health And Human Services et al, Centers for Medicare & Medicaid Services (CMS), Hospitals, Medicare Advantage

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Amanda Sonneborn

NLRB General Counsel Announces Intention to Pursue Expansive Remedies for Non-Compete Agreements and to Target So-Called “Stay or Pay” Agreements

On October 7, 2024, National Labor Relations Board (“NLRB”) General Counsel Jennifer A. Abruzzo issued Memorandum GC 25-01, where she argues for expansive remedies for employers who violate the National Labor Relations Act…more

Breach of Contract, Compensation, Enforcement, New Guidance, NLRA

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Ken Sonnenfeld

The Age of Competition - The Supreme Court Decides the First BPCIA Case

In a landmark ruling for the biotech and pharmaceutical industries, a unanimous Supreme Court decided Sandoz Inc. v. Amgen Inc., 582 U.S. ____, Nos. 15-1039, 15-1195 (June 12, 2017), its first biosimilar case governed by the…more

aBLA, Biotechnology, BPCIA, Confidential Information, Opt-Outs

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Marisa Sotomayor

CFPB's New Small Business Data Collection Rule

A recent rule (12 CFR Part 1002, the “Rule”) issued in final form by the Consumer Financial Protection Bureau (the “CFPB”) earlier this year imposes a host of data collection and reporting obligations on lenders to small…more

Compliance, Consumer Financial Protection Bureau (CFPB), Consumer Protection Act, Data Collection, Dodd-Frank

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Cedric Soule

Mexico Enacts New Legal Regime for Mining Concessions

On May 8, 2023, Mexico enacted an amendment in matters pertaining to mining and water to its mining law; national waters law; general law for ecologic equilibrium and environmental protection (LGEEPA); and general law for the…more

Compensation, Environmental Social & Governance (ESG), Mexico, New Amendments

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Adam Sowatzka

Spotlight on PFAS and Other Substances in Cosmetics Likely to Grow in 2022

This year – 2022 – may finally be the year that the effort to modernize safety standards in the U.S. for cosmetics and other personal care products, which has been ongoing since 2013, comes to fruition. If so, the new cosmetics…more

Best Practices, Cosmetics, EU, European Commission, Food and Drug Administration (FDA)

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Charles Spalding, Jr.

Cyberattack and Ransomware Attack Force Majeure Considerations

As criminal cyberattacks and ransomware attacks on critical infrastructure increase, companies may experience significant business disruptions. Ransomware and cyberattacks may prevent companies from fulfilling contractual…more

Business Disruption, Critical Infrastructure Sectors, Cyber Attacks, Cybersecurity, Force Majeure Clause

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Thomas Spiegler

FTC and DOJ Announce New Draft Merger Guidelines

vOn July 19, 2023, the U.S. antitrust enforcers, the Federal Trade Commission (“FTC”) and the Antitrust Division of the Department of Justice (“DOJ”) (collectively, the “Agencies”), released draft merger guidelines for public…more

Antitrust Division, Biden Administration, Department of Justice (DOJ), Draft Guidance, Enforcement

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Jeffrey Spigel

Court Grants Injunction to Pause Handbag Merger

On Thursday, October 24, 2024, a New York federal judge granted the Federal Trade Commission’s request for a preliminary injunction to halt the merger between Tapestry Inc. and Capri Holdings Ltd. The court held that the…more

Acquisitions, Federal Trade Commission (FTC), Mergers, Preliminary Injunctions, Retail Market

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Thomas Sprange, QC

India to Promote Mining of Lithium and Five Other Critical Minerals

On 2 August 2023, India’s Parliament passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2023 (“Amendment Bill”) to amend the Mines and Minerals (Development and Regulation) Act, 1957 (“Act”). The Act…more

Atomic Energy, India, Mineral Exploration, Mineral Leases, Minerals

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Thomas Spulak

U.S. Commerce Department Launches First CHIPS for America Funding Opportunity

Applications For Leading Edge Commercial Fabrication Facilities And For Current-Generation Facilities Accepted Beginning March 31, 2023 And June 26, 2023, Respectively - On August 9, 2022, President Joseph R. Biden signed the…more

Due Diligence, Eligibility, Federal Funding, Foreign Investment, Loans

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Dr. Peter Stainer

News on Potential Relaxation of EU Green Hydrogen Rules

In June 2023 the European Union (“EU”) adopted its definition of green hydrogen and derivatives (known as “renewable fuels of non-biological origin”, or “RFNBO”). See our previous client alert summarising the key aspects of the …more

EU, European Commission, Final Rules, Hydrogen Power, Renewable Energy

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Andrew Stakelum

U.S. Government’s Continued Focus on Large Ship Air Emissions

The U.S. Environmental Protection Agency (“EPA”) and the U.S. Coast Guard (“USCG”) continue to signal interest in addressing air pollution from large ships and ocean-going vessels. Since statements made by EPA personnel in 2014,…more

Carbon Monoxide Exposure, Civil Liability, Clean Air Act, Coast Guard, Criminal Liability

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Craig Stanfield

A Business Court in Texas: What It Means for Litigants, Attorneys, and Commercial Law

After years of stalled attempts, Texas will soon be the thirtieth state to establish a specialized business court specifically designed to hear complex commercial cases. House Bill 19, recently approved by the Texas…more

Appeals, Business Court, Business Litigation, Jurisdiction, Penalties

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Brian Thomas Stansbury

EPA's Reconsideration of Ethylene Oxide Under the Clean Air Act - A Sign of Future Chemicals Policy to Come?

On January 25, 2022, the U.S. Environmental Protection Agency (“EPA”) reaffirmed its interpretation of ethylene oxide (“EtO”) requirements which may signal EPA’s increased scrutiny of chemical emissions generally and the…more

Chemicals, Clean Air Act, Environmental Protection Agency (EPA), IRIS, NESHAP

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Smitha Stansbury

It’s Not Just for Dietary Supplements Anymore: FTC Revises and Expands Guidance for Health Claims

Signaling a renewed focus on consumer protection in the health claims space, the Federal Trade Commission (“FTC”) has revamped its 1998 guidance titled Dietary Supplements: An Advertising Guide for Industry and extended the…more

Consumer Protection Laws, Dietary Supplements, Digital Health, Federal Trade Commission (FTC), Food and Drug Administration (FDA)

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Andrea Stauber

COVID as a Force Majeure Event - An Interesting and Unexpected Development in Singapore

The Appellate Division of the Singapore High Court recently provided the construction industry with interesting, and somewhat unexpected, guidance regarding COVID as a force majeure event in the context of construction…more

Appeals, Construction Contracts, Construction Industry, Coronavirus/COVID-19, Corporate Counsel

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Jeffrey Stein

Significant 2021 Proxy Advisor Policy Changes

Proxy advisory firms ISS and Glass Lewis have issued their annual updated proxy voting guidelines for the upcoming 2021 proxy season. Glass Lewis’s new guidelines apply to shareholder meetings on or after January 1, 2021, while…more

Advance Notice, Board of Directors, Diversity and Inclusion Standards (D&I), Environmental Policies, Exclusive Forum

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Arthur Steinberg

Sharp Teeth: Civil and Criminal Liability for Officers and Directors of Insolvent Saudi and UAE Companies

The recent detention of a restructuring professional in the United Arab Emirates serves as a stark reminder that directors and officers of insolvent or distressed companies can face personal liability for their actions or…more

Bankruptcy Court, Books & Records, Chapter 13, Civil Liability, Corporate Counsel

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Kenneth Steinthal

COVID-19 Impacts on Businesses and Their Intellectual Property Rights

Part 2 of a 2 Part Series: Avoiding and/or Eliminating Loss of IP Rights During the COVID-19 Pandemic - As a follow-on to our series, COVID-19 Impacts on Businesses and Their Intellectual Property Rights, companies need to…more

Coronavirus/COVID-19, Domain Names, Intellectual Property Protection, Patents, Proprietary Information

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Elysia-Elena Stellakis

Beyond the Palette: Issues in art disputes in the English Courts

Fine art is big business. The three most expensive paintings to have ever been sold – Salvator Mundi by Leonardo da Vinci, Interchange by Willem de Kooning and The Card Players by Paul Cézanne – have an inflation-adjusted…more

Art Collections, Breach of Contract, Fine Art, Inflation Adjustments, Investors

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Mike Stenglein

Infrastructure Investment and Jobs Act: Key Provisions and Considerations for Project Participants

On November 15, 2021, President Biden signed into law the Infrastructure Investment and Jobs Act (“Infrastructure Act”), which provides for $550 billion in new federal spending on infrastructure in the United States over a…more

Anti-Fraud Provisions, Biden Administration, Broadband, Buy America, Carbon Capture and Sequestration

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Aaron Stephens

FCA Fines Starling Bank Over Financial Sanctions Screening Failures

On 27 September 2024, the Financial Conduct Authority (“FCA”), imposed a financial penalty of approximately £29 million on the British bank – Starling Bank Limited (“Starling”) – for failings related to its financial crime…more

Anti-Money Laundering, Economic Sanctions, Employment Policies, Enforcement Actions, Financial Conduct Authority (FCA)

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Shawn Stephens

Texas Supreme Court Removes Procedural Gotcha in Lawsuits Against Engineers, Architects, and Other Licensed Professionals

On April 28, 2017, the Texas Supreme Court held that trial courts have discretion whether to dismiss a lawsuit against a licensed professional with or without prejudice when a plaintiff fails to file an expert affidavit…more

Affidavits, Architects, Engineering, Good Cause, TX Supreme Court

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Catherine Stern

CMS Issues Proposed PPS Rule for Inpatient Psychiatric Hospitals

On March 28, 2024, CMS issued its fiscal year (FY) 2025 prospective payment system (PPS) proposed payment rule for inpatient psychiatric hospitals (IPFs). The proposed rule is expected to be published in the Federal Register on…more

Centers for Medicare & Medicaid Services (CMS), Proposed Legislation, Prospective Payment System (PPS), Psychiatric Hospitals, Quarterly Report

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Rikki Stern

Russia’s Payment of Principal and Interest in Rubles of U.S. Dollar-Denominated Debt May Give Rise to Claims under International Investment Treaties

On April 11, 2022, the EMEA Credit Derivatives Determinations Committee (CDDC) determined that the state-owned Russian Railways is in default on a missed bond payment. Russian Railways tried to make the interest payment due…more

Bilateral Investment Treaties, Bondholders, Bonds, Compliance, EMEA

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Chad Stewart

Energy Newsletter - April 2019

Shifting Dynamics in Latin America - On March 5, 2019, King & Spalding hosted an Energy Forum, titled “Shifting Dynamics in Latin America”, to discuss the political and regulatory changes in Latin America and their impact on…more

Climate Change, Cross-Border Transactions, Due Diligence, Energy & Climate Debates, Energy Sector

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Matthew Stewart

Washington Insight - September 2016

House Financial Services Committee Votes To Repeal And Replace Dodd-Frank - On September 13th, the House Financial Services Committee approved the Financial CHOICE Act of 2016 to repeal and replace key parts of the 2010…more

Broker-Dealer, Class Action, Commercial Real Estate Market, Consumer Financial Protection Bureau (CFPB), Cyber Threats

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Olivia Stewart

NAV Facilities

In its most simple form, a net asset value-based facility (“NAV Facility”) is a credit facility, whereby availability under the facility is based on the net asset value of the portfolio investments of the borrower, often a…more

Default, Interest Rates, Investors, Liquidity, NAV

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Jamie Stinson

SEC Examination Priorities for 2020 Include Both Emerging and Existing Concerns for Registered Investment Advisers and Broker-Dealers

On January 7, 2020, the Securities and Exchange Commission (“SEC”) issued its 2020 Examination Priorities, a yearly publication highlighting new and existing areas of focus for the Office of Compliance Inspections and…more

Anti-Money Laundering, Broker-Dealer, Cybersecurity, Financial Industry Regulatory Authority (FINRA), FinTech

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Spencer Stockdale

Buyers Beware - Delaware Chancery Court Orders CorePower to Honor Acquisition of Franchisee Studios

On March 1, 2022, Vice Chancellor Slights of the Delaware Chancery Court ordered CorePower Yoga (“CorePower”) to close the acquisition of 34 yoga studios from its largest franchisee, Level 4 Yoga (“Level 4”). The parties entered…more

Acquisitions, Coronavirus/COVID-19, Damages, Force Majeure Clause, Material Adverse Effects

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Julie Stockton

New York Tallies A Record-Breaking Number Of Data Breach Notices

On March 21, 2017, the Attorney General (“AG”) of New York, Eric T. Schneiderman, announced that his office received a record number of data breach notices in 2016. The total number of breach notifications received by the AG’s…more

Attorney General, Breach Notification Rule, Data Breach, Data Security, Hackers

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Ellenor Stone

Compensation and Benefits Insights – September 2016 #2

Hardly Water Under the Bridge: NLRB, SEC, OSHA Mount Offensive Against Confidentiality Agreements - A recent New York Times story shed light on complaints by an employee of Bridgewater Associates, a $154 billion hedge fund…more

Confidential Information, Deadlines, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Health and Welfare Plans

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Mikaela Stone

Federal Circuit Overrules Rosen-Durling Test For Design Patent Obviousness

The Federal Circuit has overruled the long-standing Rosen-Durling test used to evaluate obviousness of design patents. LKQ Corp. v. GM Global Tech. Op. LLC, No. 2021-2348 (Fed. Cir. May 21, 2024). The court, which reheard…more

Design Patent, En Banc Review, Obviousness, Patent Trial and Appeal Board, Patents

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Michelle Story

The U.S. Departments of Commerce and State Issue Proposed Rules Expanding Controls on Military and Security-Related Services, End Uses, and End Users

To curtail U.S. persons from supporting the efforts of adversarial regimes, such as China and Russia, in advancing their military and intelligence capabilities, the U.S. is proposing a significant expansion of export control…more

Cannabis Products, China, Commerce Control List, Directorate of Defense Trade Controls (DDTC), End-Users

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Brittany Strandell

GAO Report Finds Medicare Advantage Risk Adjustment Model Underestimated Spending for Beneficiaries with Functional Limitations

On September 10, 2018, the United States Government Accountability Office (GAO) published a report titled “Medicare Advantage: Benefits and Challenges of Payment Adjustments Based on Beneficiaries’ Ability to Perform Daily…more

GAO, Medicare, Medicare Advantage

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Paul Straus

New York Appellate Division Dismisses Junior Mezz Lender’s Claims for Fraudulent Inducement and Fraudulent Concealment, Allows U.C.C. Foreclosure Sale to Proceed

On January 18, 2024, New York’s Appellate Division rejected a junior mezzanine lender’s contention that it was fraudulently induced to amend the parties’ intercreditor agreement, because it failed to identify specific…more

Duty to Disclose, Foreclosure, Fraudulent Inducement, Mezzanine Lenders, Mortgages

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David Strickland III

Force Majeure during Construction – Are you Ready? (From the Owner’s Perspective)

Hurricanes Harvey, Irma and Maria have come and gone. Looking back, were you ready? What should you be doing to prepare for the next hurricane? Lawyers spend considerable amounts of time defining the scope of force majeure…more

Construction Contracts, Construction Industry, Force Majeure Clause

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Jessica Stricklin

New Expansive Rules for Clawback of Incentive-Based Compensation

Several recent developments with the U.S. Securities and Exchange Commission (“SEC”) come into effect this year, including the new pay-versus-performance proxy disclosure as well as new Rule 10b5-1 rules and related disclosure…more

Clawbacks, Disclosure Requirements, Form 10-K, Incentive Compensation, Indemnification

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Cynthia AM Stroman

Beyond the Fenceline: Environmental Justice Updates – December 2023

Environmental Justice: 2023 Year in Review and 2024 Look-Ahead - As a concept, Environmental Justice, or EJ, has been around for more than 40 years. Beginning as a slogan at protests in Warren County, NC in 1982, EJ became…more

Biden Administration, CEQ, Clean Air Act, Climate Change, Department of Energy (DOE)

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James Stull

Increase in Saudization Ratio for Engineering Positions

On May 20, 2024, the Ministry of Human Resources and Social Development (“MHRSD”) in collaboration with the Ministry of Municipal Rural Affairs and Housing announced their goal of increasing the Saudization ratio in the…more

Employees, Employer Liability Issues, Engineering, International Labor Laws, Saudi Arabia

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Anisha Sud

Energy Newsletter - March 2020

Disrupting the Disruptor: How a Prepared and Proactive Owner Can Mitigate the Effects of Coronavirus on Construction Projects - Once a remote health issue in China, the rapidly spreading coronavirus (COVID-19) has become not…more

Construction Project, Coronavirus/COVID-19, Energy Sector, Final Rules, Force Majeure Clause

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Ellen Sueda

REIT Advisor - June 2017

Business Disruption Risk - Given the recent events around the world, including both terrorist attacks and severe storms, REITs continue to cite business interruption risks as a significant concern for implementing corporate…more

Business Disruption, REIT, Securities and Exchange Commission (SEC)

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Ruslan Sulaimanov

The Dubai International Financial Centre Implements the New Data Protection Law

The Dubai International Financial Centre (the DIFC), a financial free zone in the United Arab Emirates (the UAE), is the leading financial hub for the Middle East, Africa and South Asia. It has implemented the new enhanced Data…more

Africa, Asia, California, California Consumer Privacy Act (CCPA), Data Breach

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Erin Sullivan

Financial Services Regulation in the Post-Jarkesy World

On June 27, 2024, the U.S. Supreme Court issued its opinion in Securities and Exchange Commission v. Jarkesy. By a 6-3 vote, the Supreme Court affirmed the Fifth Circuit’s ruling, holding that the Seventh Amendment prohibits the…more

Administrative Agencies, Administrative Law Judge (ALJ), FDIC, Financial Services Industry, NCUA

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Phyllis Sumner

New Cyber Incident Reporting Law Covering Range of Critical Infrastructure Companies

On March 15, 2022, President Biden signed into law the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (the “Act”) as part of an omnibus appropriations bill. The Act compels “covered entities” — companies in a…more

Critical Infrastructure Sectors, Cyber Attacks, Cyber Incident Reporting, Cybersecurity, Cybersecurity Information Sharing Act (CISA)

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Charlene Sun

U.S. Supreme Court Will Rule on Whether Section 1782 Discovery is Available for Use in Private Foreign Commercial Arbitrations

In a highly anticipated decision, the U.S. Supreme Court has granted certiorari in Servotronics, Inc. v. Rolls-Royce PLC, et al. and agreed to address the question of whether federal courts may authorize discovery pursuant to 28…more

Certiorari, Commercial Arbitration, Discovery, Federal Arbitration Act, International Arbitration

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Elizabeth Swayne

CMS Announces Part D Senior Savings Model for Seniors Requiring Insulin

Citing the high cost of insulin as a common barrier to proper diabetes treatment, CMS has announced a new model to allow beneficiaries additional Part D plan options with lower out-of-pocket costs for insulin. Under the Part D…more

Centers for Medicare & Medicaid Services (CMS), Health Plan Sponsors, Medicare, Medicare Part D, Pharmaceutical Industry

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John Sweet

IRS and Treasury Issue Interim Guidance on 1% Stock Buyback Tax

On December 27, 2022, the IRS and Treasury issued Notice 2023-2 (the “Notice”), which provides guidance relating to the application of the new excise tax on repurchases of corporate stock (the “Stock Buyback Tax”) under Section…more

De Minimus Quantity Exemption, Fair Market Value, Guidance Update, Internal Revenue Code (IRC), IRS

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Oliver Swerdlow

Alternative Financing Models for Real Estate and Infrastructure in Saudi Arabia

The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates that,…more

Capital Raising, Contractors, Fossil Fuel, Investment, Leaseback

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Georgios Symeonidis

EUROPE – New Interim Guidance on Parallel EMA-HTA Body Scientific Advice

On July 3, 2023, the European Medicines Agency (“EMA”) and the European Commission published a Guidance on Parallel EMA/HTA body Scientific Advice for the Interim Period (“Guideline”). The Guideline organizes parallel…more

Applications, Confidentiality Agreements, EU, European Medicines Agency (EMA), Health Technology

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JoAnn Szucs

Department of Labor Finalizes Changes to QPAM Exemption

Investment managers who manage private employee benefit plan and individual retirement account (collectively, “Plan”) assets have long relied on Prohibited Transaction Class Exemption 84-14 (commonly referred to as the “QPAM…more

Criminal Convictions, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Federal Register, Internal Revenue Code (IRC)

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Quyen Ta

ESG Agenda

BlackRock Doubles Down on Sustainability - • BlackRock signals substantially more assertive posture on climate-related issues • New approach to shareholder proposals saw BlackRock support 54% of environmental and social…more

Benchmarking, BlackRock, Climate Change, Coronavirus/COVID-19, Diversity and Inclusion Standards (D&I)

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Elizabeth Taber

Key Recent Developments In Environmental Justice Litigation

Louisiana remains at the forefront of environmental justice activity. In just four days from January 19 to January 23, 2024, two courts in Louisiana offered interpretations to environmental justice efforts in the State of…more

Anti-Discrimination Policies, Appeals, Civil Rights Act, Clean Air Act, Department of Environmental Quality

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Adrian Talamantes

Implementing A Competitive Natural Gas Market In Mexico - CENAGAS to hold its first open season

Centro Nacional de Control de Gas Natural (CENAGAS) has received authorization from the Comisión Reguladora de Energía (CRE) to conduct its first open season for the assignment of available capacity on a firm basis in the…more

Competitive Bidding, Deadlines, Electricity, Energy Sector, Foreign Investment

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Jonathan Talansky

Treasury Issues Final Regulations Addressing “Domestically Controlled” REIT Status

On April 25, 2024, the IRS and Treasury issued final regulations (the “Final Regulations”) addressing whether a real estate investment trust (a “REIT”) or a regulated investment company (a “RIC”) will constitute a “domestically…more

C-Corporation, Fair Market Value, Final Rules, FIRPTA, Income Taxes

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Brittany Tandy

CMS Issues CY 2025 Medicare Hospital Outpatient Prospective Payment System and Ambulatory Surgical Center Payment System Proposed Rule

On July 10, 2024, CMS issued a proposed rule with updates to the Medicare payment rates for the Hospital Outpatient Prospective Payment System (OPPS) and the Medicare Ambulatory Surgical Center (ASC) payment system for calendar…more

Ambulatory Surgery Centers, Centers for Medicare & Medicaid Services (CMS), Consolidated Appropriations Act (CAA), Hospitals, Medicare

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Michelle Tang

What is Happening to My LIBOR Now? Simplification of the ARRC’s Hardwired Approach

On March 25, 2021, the Alternative Reference Rates Committee (the “ARRC”) issued supplemental guidance to its recommended hardwired fallback language for U.S. dollar LIBOR denominated syndicated and bilateral business loans. The…more

Alternative Reference Rates Committee (ARRC), Financial Conduct Authority (FCA), ICE Benchmark Administration (IBA), IOSCO, Libor

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Angela Tarasi

The USPTO Shutdown: Causes and Implications

How a USPTO Shutdown Will Affect PTAB Litigation and Prosecution Matters & Strategies - The government shutdown began December 22, 2018, but the United States Patent and Trademark Office (USPTO) and district and appeals…more

Discovery Disputes, Filing Requirements, Government Shutdown, Patent Prosecution, Patent Trial and Appeal Board

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Sylvia Taslim

Energy Newsletter - September 2020

Climate Change Litigation on the Horizon with Trump Environmental Overhaul - On July 16, 2020, President Trump’s Council on Environmental Quality (“CEQ”) published the long-awaited final rule revising the implementing…more

CEQ, CFIUS, Climate Change, Coronavirus/COVID-19, Debt Restructuring

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David Tassa

Senate Subcommittee on Investigations Releases Report Criticizing Medicare Advantage Restrictions on Access to Post-Acute Care

On October 17, 2024, the U.S. Senate’s Permanent Subcommittee on Investigations (the Committee) chaired by Senator Richard Blumenthal released a report authored by the majority entitled, “Refusal of Recovery: How Medicare…more

Centers for Medicare & Medicaid Services (CMS), CVS, Denial of Insurance Coverage, Humana, Investigations

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Daniella Taveau

European Chemical Agency Publishes Call for Evidence on the Use of Formaldehyde Releasers

On July 6, 2016, the European Chemicals Agency (ECHA) issued a call for evidence from relevant stakeholders to gather information on the uses of formaldehyde releasers. ECHA intends to issue a report to inform the Commission’s…more

Chemicals, ECHA, EU, REACH, Request For Information

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J. Michael Taylor

USTR Initiates New Process To Request Exclusions From The Section 301 China Tariffs For “Certain Machinery Used In Domestic Manufacturing”

Exclusion requests must be filed by March 31, 2025 and granted exclusions would be available through May 31, 2025 - On October 15, 2024, the Office of the U.S. Trade Representative (“USTR”) established an electronic portal…more

China, Documentation, Imports, Manufacturers, Section 301

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John Clay Taylor

Treasury and IRS Issue Additional Guidance on Section 40B Sustainable Aviation Fuel Tax Credit

Section 40B of the Internal Revenue Code of 1986 (the “Code”) enacted by the Inflation Reduction Act of 2022 (the “IRA”) provides tax credits for each gallon of sustainable aviation fuel (“SAF”) sold or used by a taxpayer before…more

Aviation Industry, CARB, Carbon Offset and Reduction Scheme for International Aviation (CORSIA), Fuel Standards, Greenhouse Gas Emissions

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Christina Tecson

Energy Newsletter - July 2019

Choose Your Own Adventure: Farmouts of International Oil & Gas Interests and the AIPN 2019 Model Form - When I teach about the Association of International Petroleum Negotiator’s (AIPN) Model International Farmout Agreement…more

Assignments, Chapter 11, Clean Energy, Commercial Bankruptcy, Default

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Jeffrey Telep

FinCEN’s Final Rule on Anti-Money Laundering for Residential Real Estate Transfers

On August 29, 2024, the Financial Crimes Enforcement Network (“FinCEN”) issued a final rule under the Bank Secrecy Act (“BSA”) requiring certain persons involved in real estate closings and settlements to report and maintain…more

AML/CFT, Anti-Money Laundering, Bank Secrecy Act, Beneficial Owner, Exemptions

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Eva Temkin

FDA Ushers in New Program for Drug Products Manufactured Using Innovative Manufacturing Technologies

Under Section 3213 of Food and Drug Omnibus Reform Act, the U.S. Food & Drug Administration (“FDA” or the “Agency”) is required to establish the Advanced Manufacturing Technologies Designation Program, an initiative intended to…more

Abbreviated New Drug Application (ANDA), Draft Guidance, Food and Drug Administration (FDA), Marketing, Pharmaceutical Industry

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Sydney Teng

Colorado Passes Law Requiring Governance Measures for High-Risk AI

Colorado became the first state to comprehensively address artificial intelligence (“AI”), passing Senate Bill 24-205, or the Colorado Artificial Intelligence Act, on May 17, 2024 (“Act”). The Act establishes the nation’s first…more

Artificial Intelligence, Automated Decision Systems (ADS), Bias, Colorado, Compliance

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Rachel Tennis

Energy Newsletter - January 2019

Clean Water Agencies Propose to Redefine and Limit “Waters of the United States” - The United States EPA and the United States Army Corps of Engineers are proposing to redefine—and significantly limit—the scope of “Waters of…more

Abu Dhabi Global Markets (ADGM), Clean Water Act, Cross-Border Transactions, Energy Sector, Liquidated Damages

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David Tetrick Jr.

DOL Expresses Extreme Skepticism About Allowing 401(k) Plan Participants to Invest in Cryptocurrency

On March 10, 2022, the U.S. Department of Labor (the “DOL”) issued Compliance Assistance Release No. 2022-01 (the “Release”) regarding 401(k) plan participant-directed investments in cryptocurrencies. The Release “cautions plan…more

401k, Cryptocurrency, Department of Labor (DOL), Digital Assets, Employee Retirement Income Security Act (ERISA)

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David G. Tewksbury

Energy Newsletter - August 2019

Significant Changes to FERC’s Rules for Market-Based Rate Sellers - On July 18, 2019, the Federal Energy Regulatory Commission (“FERC”) issued two orders modifying its rules for sellers to obtain or retain authorization to…more

Energy Sector, FERC, Intercreditor Agreements, ISO/RTO, Latin America

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Brian Thavarajah

Not So Special – Securities And Antitrust Regulators May Increase Attention To SPACs In The Coming Year

In a remarkable year for the equity markets in 2020, the increased use of Special Purpose Acquisition Companies (“SPACs”) to take companies public stands out as a defining trend. In 2020, well-known private businesses – like…more

Collusion, Department of Justice (DOJ), Division of Corporate Finance, Due Diligence, Federal Trade Commission (FTC)

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Katarzyna Thevissen

AIFMD II Credit Funds

Loan Origination Funds Have a Lot of Wood to Chop Before Aifmd II Kicks In - Following a review of the AIFMD, the Commission, in a draft amending directive published in 2021, noted that common rules should be laid down to…more

Alternative Investment Fund Managers Directive (AIFMD), Close-Ended Funds, Credit Funds, Disclosure Requirements, Documentation

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Mark Thigpen

Beneficial Ownership Information Reporting Rule Requires Millions of Entities to Report Certain Information to FinCEN Effective January 1, 2024

On March 24, 2023, Financial Crimes Enforcement Network (“FinCEN”), a bureau of the U.S. Department of the Treasury, released its guidance materials on its final rule (the “Rule”) establishing beneficial ownership information…more

Beneficial Owner, Corporate Transparency Act, Department of Transportation (DOT), Final Rules, FinCEN

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Oliver Peter Thoma

EPA’s Draft Strategic Plan Emphasizes Resilience and Adaption to Climate Change

This Client Alert—Part 2 of an ongoing series—provides an overview of one of EPA’s key objectives in its draft Strategic Plan: Developing resilience and adaptation to climate change impacts. Other alerts in the series can be…more

Center for Biological Diversity, Climate Change, Endangered Species Act (ESA), Enforcement, Environmental Protection Agency (EPA)

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Margaret Farquhar Thomas

DOJ Issues Memorandum Urging Government Lawyers to Dismiss ‘Meritless’ False Claims Act Cases

The Department of Justice recently issued an internal guidance memo to DOJ attorneys regarding the dismissal of meritless False Claims Act (FCA) cases. Michael Granston, the Director of DOJ’s Civil Fraud Section, first made…more

Department of Justice (DOJ), Dismissals, False Claims Act (FCA), National Security, Qui Tam

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Suzanne Nanney Thompson

U.S. Bankruptcy Court for the Southern District of Texas Denies Motion for Summary Judgment in Case Challenging “Uptier” Transaction

On January 14, 2024, the U.S. Bankruptcy Court for the Southern District of Texas largely denied cross motions for summary judgment on aggrieved noteholders’ claims arising from a so-called “uptier” transaction. In 2019, Wesco…more

Bankruptcy Court, Commercial Bankruptcy, Summary Judgment, Texas

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Kanzanira Thorington

UK Launches New Office of Trade Sanctions Implementation for Civil Enforcement of Trade Sanctions

On 12 September 2024, the UK Government published The Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 (“the Regulations”), which provide the regulatory framework for the Office of Trade Sanctions…more

Criminal Liability, ECJU, Economic Sanctions, Enforcement, HMRC

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Hannah Thorpe

Recent Enforcement Trends Regarding the Use of Off-Channel Communications on Personal Devices

What U.K. Firms Need to Know - INTRODUCTION - Over the past decade, the use of messaging applications, such as WhatsApp, for business purposes as an alternative to traditional email has grown exponentially. Ease of use and…more

CFTC, Data Privacy, Data Retention, Employee Training, Enforcement

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Kerianne Tobitsch

European Union Member States Vote In Support Of The Privacy Shield

On July 8, 2016, the European Union (“EU”) member states voted in support of the Privacy Shield through the Article 31 Committee, which is composed of representatives of the 28 member states. The Privacy Shield would replace…more

EU, EU Data Protection Laws, EU-US Privacy Shield, European Commission, International Data Transfers

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Andrew Todd

Treasury Issues Final Regulations Addressing “Domestically Controlled” REIT Status

On April 25, 2024, the IRS and Treasury issued final regulations (the “Final Regulations”) addressing whether a real estate investment trust (a “REIT”) or a regulated investment company (a “RIC”) will constitute a “domestically…more

C-Corporation, Fair Market Value, Final Rules, FIRPTA, Income Taxes

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Patrick Togni

USTR Initiates New Process To Request Exclusions From The Section 301 China Tariffs For “Certain Machinery Used In Domestic Manufacturing”

Exclusion requests must be filed by March 31, 2025 and granted exclusions would be available through May 31, 2025 - On October 15, 2024, the Office of the U.S. Trade Representative (“USTR”) established an electronic portal…more

China, Documentation, Imports, Manufacturers, Section 301

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Carmen Toledo

FDA Alerts Pharmaceutical Manufacturers to Risk of Benzene in Certain Drugs

FDA Continues to Focus on Identifying and Controlling Trace Impurities in Drugs - On December 23, 2021, the U.S. Food and Drug Administration (“FDA”) alerted drug manufacturers that FDA was investigating the root cause of…more

Food and Drug Administration (FDA), Hydrocarbons, Manufacturers, PFAS, Pharmaceutical Industry

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Josh Toll

CARES Act Summary: What It Means for Nonprofits

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed into law on March 27, 2020 provides a $2 trillion economic stimulus package to offset the hardship that businesses are experiencing in connection with the…more

Banks, Business Closures, Business Interruption, CARES Act, Centers for Medicare & Medicaid Services (CMS)

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Daron Tooch

Supreme Court Ruling in AHA v. Becerra May Affect 340B Hospitals' Reimbursement Rights Against Medicare Advantage Plans

Hospitals that participate in the 340B program may be entitled to additional monies from Medicare Advantage plans in the wake of the Supreme Court’s decision in AHA v. Becerra. In AHA v. Becerra, a unanimous Supreme Court…more

Ambulatory Surgery Centers, American Hospital Association et al v Becerra Secretary Of Health And Human Services et al, Centers for Medicare & Medicaid Services (CMS), Hospitals, Medicare Advantage

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John Toro

Court Certifies Class Despite Plaintiff’s Admission that She Consistently Purchased the Product Years Before the Allegedly Misleading “0g Trans Fat” Claim Was Added to the Label

On November 9, 2020, Judge Jeffrey Miller of the Southern District of California certified a class of California citizens alleging that Kroger violated various California consumer protection laws by mislabeling its breadcrumbs…more

Class Certification, False Advertising, Food Labeling, Nutrition Facts Labels, Predominance Requirement

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Justin Torres

DOJ Issues Memorandum Urging Government Lawyers to Dismiss ‘Meritless’ False Claims Act Cases

The Department of Justice recently issued an internal guidance memo to DOJ attorneys regarding the dismissal of meritless False Claims Act (FCA) cases. Michael Granston, the Director of DOJ’s Civil Fraud Section, first made…more

Department of Justice (DOJ), Dismissals, False Claims Act (FCA), National Security, Qui Tam

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Keith Townsend

Bye-Bye Big Boys? The SEC Turns its Enforcement Focus to Private Deals

On April 4, 2023, the U.S. Securities and Exchange Commission (“SEC”) filed suit against Charlie Javice, the 31-year-old founder of Frank, a student loan and financial aid assistance company. That same day, the U.S. Attorney’s…more

Bank Fraud, Department of Justice (DOJ), Enforcement, Financial Aid, Penalties

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Elizabeth Tramm

Supreme Court Rules that Citizenship of a Real Estate Investment Entity is Based on Citizenship of its Members, Which Includes Shareholders

On March 7, 2016, the U.S. Supreme Court (the “Supreme Court”) ruled that the citizenship of a Real Estate Investment Entity (“REIT”), for purposes of federal diversity jurisdiction, is based on the citizenship of its members,…more

Americold Realty Trust v Conagra Foods, Citizenship, Diversity Jurisdiction, Members, REIT

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K. Luan Tran

CMS Outlines Strategy to Advance Health Equity

Pursuant to Executive Order 13985, Advancing Racial Equity and Support for Underserved Communities Through the Federal Government, federal agencies and departments, including HHS, have recently released their plans to advance…more

Centers for Medicare & Medicaid Services (CMS), Children's Health Insurance Program (CHIP), Data Collection, Executive Orders, Healthcare

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Kelley Tran

OIG Issues Advisory Opinion on Medical Group’s Proposed Employment of Individual Excluded from Participation in Federal Health Care Programs

On May 25, 2022, OIG posted an Advisory Opinion analyzing a medical group’s proposal to employ an individual excluded from participation in federal health care programs to perform marketing tasks related to workers’ compensation…more

Advisory Opinions, Civil Monetary Penalty, False Claims Act (FCA), Federal Health Care Programs (FHCP), OIG

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Jessica Trevellick

Proposed Changes to South Korea’s Personal Information Protection Act

On November 2018, the South Korean National Assembly considered a bill to amend the Personal Information Protection Act (“PIPA”) to give the Personal Information Protection Commission (“PIPC”) enforcement powers of its own…more

Data Protection, Personal Information Protection Act, South Korea

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Natasha Trifun

Uptick In Coordinated U.S.-Brazil Anti-Corruption Enforcement

As companies expand across borders and invest more heavily abroad, foreign enforcement authorities are following the example set by the U.S. Department of Justice and the U.S. Securities and Exchange Commission in directing…more

Anti-Corruption, Enforcement Authority, Foreign Corrupt Practices Act (FCPA), Multi-Jurisdictional Litigation, Odebrecht

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Amber Trincado

California Proposes Designating PFOA as a Carcinogen under Proposition 65

Designation of PFOA as a Carcinogen Will Increase Litigation Risks and Expand Proposition 65 Labeling Obligations - On March 19, 2021, California’s Office of Environmental Health Hazard Assessment (OEHHA) announced that it…more

California, National Toxicology Program (NTP), OEHHA, PFAS, Proposition 65

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Jonathan Trinh

FDA Ushers in New Program for Drug Products Manufactured Using Innovative Manufacturing Technologies

Under Section 3213 of Food and Drug Omnibus Reform Act, the U.S. Food & Drug Administration (“FDA” or the “Agency”) is required to establish the Advanced Manufacturing Technologies Designation Program, an initiative intended to…more

Abbreviated New Drug Application (ANDA), Draft Guidance, Food and Drug Administration (FDA), Marketing, Pharmaceutical Industry

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Heath Trisdale

The Insider: Key Developments for Chief Legal Officers and Corporate Legal Teams

Welcome to the inaugural issue of The Insider. This new publication from King & Spalding’s Public Companies Practice, which will be produced periodically, is focused on key developments for chief legal officers and their…more

Attorney-Client Privilege, D&O Insurance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Duty to Monitor

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Nina Trovato

Cassirer Argument: Ownership of Nazi-looted art to be determined by choice-of-law

A painting by Camille Pissarro hangs in a Spanish museum that the Nazis stole from a Jewish family in 1939. For fifteen years the parties have litigated who the rightful owner is: the museum or the family. The case may well turn…more

Choice-of-Law, Fine Art, Foreign Sovereign Immunities Act of 1976 (FSIA), Nazi Looted Art, Spain

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Rachael Trummel

EPA’s Inspector General Recommends Review of Ethylene Oxide and Chloroprene Standards to Address Health Risks, Environmental Justice Concerns

On May 6, 2021, the U.S. Environmental Protection Agency’s (“EPA”) Office of Inspector General (“OIG”) published the results of an audit examining EPA’s response to updated cancer risk values for two chemicals: ethylene oxide…more

Cancer, Environmental Justice, Environmental Protection Agency (EPA), NESHAP, OIG

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Elaine Tseng

FDA Issues Updated Draft Guidance on Addressing Misinformation About Medical Devices and Prescription Drugs

On July 8, 2024, the U.S. Food and Drug Administration (“FDA”) issued a new draft guidance for industry titled, Addressing Misinformation About Medical Devices and Prescription Drugs – Questions and Answers (hereafter,…more

Advertising, Disclosure Requirements, Draft Guidance, Enforcement, False Advertising

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Dr. Salomé Cisnal de Ugarte

Europe's Definition of Green Hydrogen (RFNBO) Adopted into EU Law

On June 20, 2023, the European Commission (the Commission) published the EU’s definition of green hydrogen in the Official Journal. This completes the legislative process for these two long-awaited and highly controversial…more

EU, European Commission, Greenhouse Gas Emissions, Hydrogen Power, Inflation Reduction Act (IRA)

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Michael Urschel

NAIC Developments Affecting Insurer Investment Portfolios

This bulletin discusses pending actions of the (a) National Association of Insurance Commissioners (NAIC) Valuation of Securities (E) Task Force (VOS Task Force) to address certain issues associated with insurer investments in…more

Arbitrage, Bonds, Credit Ratings, Feeder Funds, Insurance Industry

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Chris Utton

Arbitrating Premature Claims: An Issue of Admissibility

The question of whether a party’s failure to comply with a mandatory step in a multi-tiered dispute resolution clause is an issue of “admissibility” or “jurisdiction” was a hot topic in the international arbitration sphere for…more

Admissibility, Arbitration, Arbitration Agreements, Enforcement, Hong Kong

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Rick Vacura

IRS Proposed Regulations and DOL Guidance Clarify Certain Aspects of the Prevailing Wage and Apprenticeship Requirements

The U.S. Department of Treasury (“Treasury”) and IRS issued proposed regulations (“Proposed Regulations”) on August 29, 2023, regarding increased credit or deduction amounts available under the Inflation Reduction Act of 2022…more

Apprenticeships, Books & Records, Compliance, Davis-Bacon Act, Department of Labor (DOL)

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Jacqueline Van De Velde

Executive Order Restricts Foreign Access to U.S. Data, Citing National Security Risks

On February 28, 2024, President Biden signed Executive Order (EO) 14117 titled “Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern.” On March 5, 2024,…more

Advanced Notice of Proposed Rulemaking (ANPRM), Artificial Intelligence, Biden Administration, Biometric Information, Cyber Espionage

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Matthias Vangenechten

FCA Fines Starling Bank Over Financial Sanctions Screening Failures

On 27 September 2024, the Financial Conduct Authority (“FCA”), imposed a financial penalty of approximately £29 million on the British bank – Starling Bank Limited (“Starling”) – for failings related to its financial crime…more

Anti-Money Laundering, Economic Sanctions, Employment Policies, Enforcement Actions, Financial Conduct Authority (FCA)

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Jarno Vanto

Recent Amendments to Pennsylvania “Breach of Personal Information Notification Act”

On June 28, 2024, Governor Josh Shapiro of Pennsylvania approved several notable amendments to the Commonwealth’s data breach notification law (SB 824). In summary, the revised statute: adds a regulator notification…more

Breach Notification Rule, Consumer Reporting Agencies, Credit Reporting Agencies, Data Breach, Personal Information

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Lana Varney

FDA Announces Updates to Two Guidance Documents Concerning Breast Implant Safety and Transparency

Maintaining its focus on breast implant safety, on September 28, 2020, FDA announced the issuance of the final guidance, “Breast Implants— Certain Labeling Recommendations to Improve Patient Communication,” (the “2020 Final…more

Food and Drug Administration (FDA), Guidance Update, Labeling, Medical Devices

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Marcio Vasconcellos

Mexico Enacts New Legal Regime for Mining Concessions

On May 8, 2023, Mexico enacted an amendment in matters pertaining to mining and water to its mining law; national waters law; general law for ecologic equilibrium and environmental protection (LGEEPA); and general law for the…more

Compensation, Environmental Social & Governance (ESG), Mexico, New Amendments

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Stephen Vaughn

USTR Initiates New Process To Request Exclusions From The Section 301 China Tariffs For “Certain Machinery Used In Domestic Manufacturing”

Exclusion requests must be filed by March 31, 2025 and granted exclusions would be available through May 31, 2025 - On October 15, 2024, the Office of the U.S. Trade Representative (“USTR”) established an electronic portal…more

China, Documentation, Imports, Manufacturers, Section 301

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Nicholas Venetz

M&A, Real Estate and Other Transactions

While sophisticated transaction parties have been aware for some time of the need to evaluate potential liabilities associated with PFAS compounds, EPA’s proposal to designate PFOS and PFOA as hazardous substances under CERCLA…more

Acquisitions, CERCLA, Environmental Protection Agency (EPA), Environmental Site Assessment, Liability

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Chelsea Vernon

Energy Newsletter - May 2020

Energy Explosion: 10 Trends to Watch in Energy Restructuring - On April 20, 2020, U.S. benchmark crude traded negative for the first time. This drastic drop in price was caused by the perfect storm of the Saudi Arabia-Russia…more

Carbon Off-Set Credits, Coronavirus/COVID-19, Energy Sector, Foreign Investment, Mexico

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Katherine Vessels

OMB Finalizes Regulatory Guidance On “Buy America Preferences For Infrastructure Projects”

Revised guidance takes effect on October 22, 2023 and will be supplemented by forthcoming memorandum - On August 23, the Office of Management and Budget (“OMB”) published final Guidance for Grants and Agreements to “support…more

Buy American Act, Federal Acquisition Regulations (FAR), Financial Assistance Policies, Infrastructure, Infrastructure Investment and Jobs Act (IIJA)

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Mark Villapando

Anti-Satellite Tests and the Growing Demand for Space Debris Mitigation

The threat of anti-satellite (ASAT) weapons is once again front and center in the news, raising questions about norms for responsible state behavior in space. ASAT tests are used by countries to destroy or incapacitate…more

Aerospace, EU, Innovative Technology, NASA, Satellites

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James Vines

Supreme Court Stays OSHA Vaccine-or-Test Mandate for Large Businesses

On January 13, 2022, the Supreme Court issued its first rulings related to the Biden Administration’s COVID-19 vaccine mandates. In the case of NFIB v. OSHA, by a vote of 6-3, the Court held that the COVID-19 vaccination and…more

Centers for Medicare & Medicaid Services (CMS), Constitutional Challenges, Coronavirus/COVID-19, Employer Mandates, OSHA

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Jennifer Virostko

Supreme Court Accepts Narrow Definition of Autodialer, Limiting Reach of TCPA

On April 1, in a highly anticipated decision that likely will have a significant effect on litigation under the Telephone Consumer Protection Act (TCPA), the Supreme Court ruled on what qualifies as an “automatic telephone…more

ATDS, Auto-Dialed Calls, Facebook, Facebook Inc v Duguid, Random or Sequential Number Generator

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Aurelia de Viry

COVID-19: Tax measures announced by Governments in France, Germany, United Kingdom and United States

Based on the information available as of today, please find below an update regarding the exceptional tax measures implemented in France, Germany, United-Kingdom and United-States to support companies and business in the…more

Coronavirus/COVID-19, France, Germany, Relief Measures, Tax Credits

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Anne Voigts

Loper Bright v. Raimondo

U.S. Supreme Court overrules Chevron and restores courts’ obligation to exercise independent judgment - On June 28, 2024, in one of the last decisions of the Term, the U.S. Supreme Court issued its long-awaited decision in…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Constitutional Challenges, Government Agencies

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Nikolas Volosin

Florida Enacts Transformative Tort Reform Legislation

On Friday, March 24, 2023, Governor Ron DeSantis signed into law House Bill 837, providing an overhaul to tort law in the state of Florida. The new legislation makes transformative changes, including reducing the statute of…more

Attorney-Client Privilege, Bad Faith, Disclosure Requirements, Florida, Liability

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Kimberly Wade

ICBC Settles AML/BSA and CSI Matters with DFS, Fed: Three Take-Aways

AML Developments - What You Need to Know - Earlier this month, the New York State Department of Financial Services (“DFS”) and the Federal Reserve Board of Governors (“FRB”) announced settlements with the Industrial and…more

Banking Regulators, BSA/AML, China, Civil Monetary Penalty, Compliance

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Kaleb Walker

Energy Newsletter - April 2020

Developing Contingency Plans: The NYDFS Mandate on Licensed Virtual Currency Businesses - The events surrounding COVID-19 have increased the use of fintech products, both out of necessity and convenience. Shelter-in-place…more

Banking Sector, Chief Information Security Officer (CISO), Compliance, Confidential Information, Coronavirus/COVID-19

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Randall Walker

Dispute boards – a globally growing popularity, but limited use in the Middle East

Unsurprisingly, a volatile and disrupted economic climate will likely have a flow-on impact upon major infrastructure projects. For example, the COVID-19 pandemic continues to deeply disrupt economic activities globally,…more

Coronavirus/COVID-19, Dispute Adjudication Board (DAB), Dispute Boards, FIDIC Contracts, Middle East

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Richard Walker

Repairing A “Crack” in Insider Trading Regulation: SEC Rule 10b5-1 Trading Plans Face Increased Scrutiny

SEC Rule 10b5-1 plans have long provided an effective means for corporate insiders to buy and sell their own company’s securities without fear of civil or criminal insider trading liability, but these plans have come under…more

Administrative Orders, Disclosure Requirements, EDGAR, Enforcement Actions, Good Faith

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Sarah Walker

Beyond the Palette: Issues in art disputes in the English Courts

Fine art is big business. The three most expensive paintings to have ever been sold – Salvator Mundi by Leonardo da Vinci, Interchange by Willem de Kooning and The Card Players by Paul Cézanne – have an inflation-adjusted…more

Art Collections, Breach of Contract, Fine Art, Inflation Adjustments, Investors

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Ariana Fazel Wallizada

Tax-Exempt Mayo Clinic Awarded $11.5M UBIT Refund, Invalidating Treasury Regulations In the Process

In a recent taxpayer win, the United States District Court for the District of Minnesota granted summary judgment in an $11.5 million refund claim brought by the Mayo Clinic (“Mayo”) on the basis that certain Treasury…more

Chevron Deference, Chevron v NRDC, Internal Revenue Code (IRC), IRS, Mayo Clinic

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Brendon Walsh

Pumping the Brakes: FinCEN Reopens Comment Period for Controversial Crypto Reporting & Recordkeeping Rules

After Widespread Market Opposition in an Expedited First Round of Comments, FinCEN Solicits More Feedback on Rule Seeking to “Close Gaps” in Virtual Currency Anti-Money Laundering Rules On January 14, in a surprise move, the…more

Administrative Procedure Act, Anti-Money Laundering, Bank Secrecy Act, Biden Administration, Cryptocurrency

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Joshua Wan

Quantum Quarterly – Issue 12 – 4 Quarter 2020

Claimant is an Australian joint venture between Chile’s Antofagasta plc and Canada’s Barrick Gold Corporation. In 2006, Claimant became a party to a joint venture agreement between it and the Government of Balochistan with the…more

Arbitration, Burden of Proof, Causation, Compensation, Contributory Negligence

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Hershel Wancjer

Court Grants Injunction to Pause Handbag Merger

On Thursday, October 24, 2024, a New York federal judge granted the Federal Trade Commission’s request for a preliminary injunction to halt the merger between Tapestry Inc. and Capri Holdings Ltd. The court held that the…more

Acquisitions, Federal Trade Commission (FTC), Mergers, Preliminary Injunctions, Retail Market

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Yun Wang

ESG Trending Topics - Japan

Japan’s Big Banks Bet on Infrastructure + ESG. In anticipation of increased infrastructure spending worldwide to meet countries’ net-zero carbon targets, Japanese banks Sumitomo Mitsui and MUFG have recently launched…more

Carbon Emissions, Electricity, Environmental Social & Governance (ESG), Infrastructure, Japan

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Bradford Ward

USTR Seeks Comments Regarding Whether To Remove China Tariffs On Additional Medical-Care Products

Agency also seeks comments to "keep current on developments in our national fight against the coronavirus pandemic" - On Friday, March 20, the United States Trade Representative (“USTR”) published a document entitled “USTR:…more

Coronavirus/COVID-19, Public Comment, Section 301, Tariffs, USTR

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Matthew Warren

Utilizing Structured Finance Techniques in Distressed Situations

Securitization, and structured finance generally, is a critical capital-raising tool for many companies. Utilizing one or more bankruptcy-remote special purpose entities to legally isolate the credit risk of quality,…more

Bankruptcy Code, Bankruptcy Court, Capital Raising, Contingency Plans, Credit Enhancements

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Mark Wasden

Ten-Year Statute of Limitations for Sanctions Violations Update

As discussed in our May 7, 2024 alert, on April 24, 2024, President Biden signed into law a foreign military support package (i.e., H.R. 815), which included a provision doubling the statute of limitations (“SOL”) from five to…more

Civil Monetary Penalty, Cuban Assets Control Regulations (CACR), Department of Labor (DOL), Economic Sanctions, Enforcement

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Matthew Washnock

Industry-Focused American Rescue Plan Act Summary

Agriculture & Food Products - On March 11, 2021, President Joseph R. Biden Jr. signed into law the American Rescue Plan Act of 2021 (“ARPA” or “the Act”),[i] which provides $1.9 trillion in federal funds for a broad array of…more

American Rescue Plan Act of 2021, Coronavirus/COVID-19, Food Products ., Joe Biden, Relief Measures

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Michael Watling

Mid-Year Report: FINRA Enforcement Builds Momentum After Historic Penalties

After collecting near-record amounts in fines, restitution, and disgorgement in 2021 – which included a $70 million monetary penalty against a financial institution in a single action – FINRA continues to raise the bar on…more

Conflicts of Interest, Customer Protection Rule, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA)

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Benjamin Watson

Supreme Court Poised To Decide What Allegations Make The Grade In University Fee Case, With Broader Implications For ERISA Retirement Plan Fiduciaries

Last month, the U.S. Supreme Court heard argument in an ERISA case that could have sweeping ramifications for retirement plan fiduciaries. The case—Hughes v. Northwestern University—tees up a threshold question that has vexed…more

401k, Class Action, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

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Jasper Wauters

Update – Sweden’s Request to Ban American Lobster in the EU Risks Violating the Rules of the WTO

In July 2016, we reported that the Swedish Government had requested that the European Union impose a ban on imports of U.S./Canadian live lobster (Homarus americanus). Sweden argues that Homarus americanus should be designated…more

EU, Food Borne Bacteria, Imports, Scientific Evidence, Sweden

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Tristan Pelham Webb

Department of Energy Announces $2.6 Billion Funding Opportunities for Carbon Capture, Storage and Transport Projects

On July 13, the U.S. Department of Energy (DOE) issued Notices of Intent indicating that the agency will begin soliciting applications in the coming months for funding support for two programs involving carbon capture,…more

Carbon Capture and Sequestration, Carbon Emissions, Department of Energy (DOE), Energy Sector, Infrastructure

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C'Reda Weeden

CMS Proposes to Cancel Episode Payment Models, Cardiac Rehab Incentive Payment Model and Revise Comprehensive Care for Joint Replacement Incentive Payment Model

On August 15, 2017, CMS announced a proposed rule to cancel the Episode Payment Models (EPMs) and Cardiac Rehabilitation (CR) incentive payment model scheduled to begin January 1, 2018, and to rescind the regulations governing…more

Alternative Payment Models (APM), Centers for Medicare & Medicaid Services (CMS), Episode Payment Models (EPM), Health Care Providers

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Paul Weeks

Mallory Argument: Plaintiff Seeks To “Change The Jurisdictional Landscape”

A Virginia resident sued a Virginia company headquartered in Virginia over events that occurred in Virginia. And he filed his lawsuit in…… Pennsylvania. The Court heard argument earlier this week in Mallory v. Norfolk Southern…more

DaimlerChrysler v Bauman, Goodyear, Jurisdiction, Mallory v Norfolk Southern Railway Co, SCOTUS

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Philip Weems

LNG Disputes on the Rise

Although some in the LNG industry are generally aware of price review disputes (mostly in Europe) that occurred during the last decade, the growing overall trend globally in LNG disputes (especially via international…more

Buyers, Infrastructure, International Arbitration, Liquid Natural Gas, Oil & Gas

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Alexandra Weis

Schluss mit dem Schriftformmangel!

Wer in der deutschen Immobilienwirtschaft Transaktionen begleitet hat, dem ist das Schreckenswort „Schriftformmangel“ vertraut. Kein Due Diligence-Bericht zu den Mietverträgen eines Objekts, der dieses Thema nicht angesprochen…more

Contract Terms, Due Diligence, Germany, Landlords, Leases

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Kathryn Weiss

Pre-Marketing: Risks and Considerations Relating to Bespoke Securitization Transactions

The current volatility in financial markets has caused an increase in interest in pre-marketing certain bespoke securitization transactions, including esoteric, real estate-based, whole business, music royalty and digital…more

Appraisal, Due Diligence, Financial Markets, Indemnification, Investors

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William Westbrook

And So it Begins: What Recent Announcements Mean for the Future of LIBOR

On March 5, 2021, the ICE Benchmark Administration (the “IBA”) issued feedback that it had completed the consultation with LIBOR panel banks that it began in December 2020, and stated that it will be unable to publish certain…more

Alternative Reference Rates Committee (ARRC), Financial Conduct Authority (FCA), ICE Benchmark Administration (IBA), ISDA, Libor

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Laura Westfall

Compensation and Benefits Insights – April 2020

On November 22, 2019, the U.S. Court of Appeals for the First Circuit (the “First Circuit”) reversed the 2016 decision of the U.S. District Court for the District of Massachusetts (the “District Court”) in Sun Capital Partners…more

Compensation & Benefits, Employee Benefits, Employee Retirement Income Security Act (ERISA), Joint and Several Liability, Multiemployer Plan

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Fergus Wheeler

Lenders – Caution Required

Lenders need to adopt some risk mitigation techniques as the market operates in frothy conditions - Against a backdrop of optimistic asset valuations driving increased leverage multiples across the large cap and mid-market…more

Financial Services Industry, Lenders, Payment-In-Kind

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Sara Kay Wheeler

OIG Hospital Compliance Program Audit Claims $22 Million in Extrapolated Overpayments

A recent report issued by OIG finding an Indiana community hospital owed over $22 million in extrapolated overpayments carries some important lessons for hospitals audited under OIG’s hospital compliance program. As described in…more

Administrative Appeals, Administrative Procedure Act, Audits, Billing, Department of Justice (DOJ)

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Brian White

Potential Remedies for Russia’s Suspension of Foreign Investors’ Intellectual Property Rights

Potential Remedies for Russia’s Suspension of Foreign Investors’ Intellectual Property Rights: International Investment Arbitration - Foreign investors in Russia may have remedies pursuant to international investment treaties…more

Bilateral Investment Treaties, Economic Sanctions, Foreign Investment, Intellectual Property Protection, International Arbitration

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Kristian-Yves Whitaker

Energy Newsletter - July 2019

Choose Your Own Adventure: Farmouts of International Oil & Gas Interests and the AIPN 2019 Model Form - When I teach about the Association of International Petroleum Negotiator’s (AIPN) Model International Farmout Agreement…more

Assignments, Chapter 11, Clean Energy, Commercial Bankruptcy, Default

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Natalie Whitaker

Transient but Modern: How Popup is giving Retail a Facelift

As traditional leasing plans, for retail spaces in particular, have been interrupted by bankruptcies of traditional retailers and the shift in consumer habits to online shopping, a more transient tenant form is gaining…more

Commercial Leases, Commercial Property Owners, Commercial Real Estate Market, Commercial Tenants, Contract Terms

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Merrick White

Energy Newsletter - September 2020

Climate Change Litigation on the Horizon with Trump Environmental Overhaul - On July 16, 2020, President Trump’s Council on Environmental Quality (“CEQ”) published the long-awaited final rule revising the implementing…more

CEQ, CFIUS, Climate Change, Coronavirus/COVID-19, Debt Restructuring

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John Whittaker

CMS Expands Flexibilities Under Hospital Without Walls Initiative

Last week, CMS announced additional flexibilities that expand its Hospital Without Walls initiative, which provides broad regulatory flexibility that allows hospitals to provide services in locations beyond their existing walls…more

Ambulatory Surgery Centers, Centers for Medicare & Medicaid Services (CMS), Hospitals, Medicare, Telehealth

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Taylor Whitten

HHS Abandons Appeal of AHA’s Lawsuit Challenging HHS Website-Tracking Guidance

Last week, HHS filed a motion asking the Fifth Circuit’s permission to voluntarily dismiss its appeal of a District Court order directing HHS to rescind its guidance restricting hospitals’ ability to track online traffic to…more

Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA), New Guidance, PHI

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Benjamin Williams

Enhancing Jurisdictional Clarity: Dubai’s New Judicial Authority

On 18 April 2024, the Ruler of Dubai established the “Judicial Authority for Resolving Jurisdictional Conflicts between the DIFC Courts and the Judicial Bodies in the Emirate of Dubai” (New Judicial Authority). This new body,…more

DIFC, Dubai, Dubai International Arbitration Center (DIAC), Jurisdiction, United Arab Emirates (UAE)

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George Williams Jr.

Rule 192

On January 25, 2023, the Securities and Exchange Commission (“SEC”) issued a release reproposing new Rule 192 (the “Proposed Rule”) under the Securities Act of 1933 (the “Securities Act”), which is intended to prevent the sale…more

Asset-Backed Securities, Conflicts of Interest, Dodd-Frank, Liquidity, Proposed Rules

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Natalie Willis

Congressional Insight into Strategy to Combat Cyberattacks on the Healthcare Industry

On April 16, 2024, the House Committee on Energy and Commerce held a bipartisan hearing on the issue of cyberattacks involving healthcare providers. The Committee called as witnesses cybersecurity professionals and…more

Cyber Attacks, Cybersecurity, Data Breach, FBI, Health Care Providers

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John Wilson

Fifth Circuit Vacates Private Fund Adviser Rules

On Wednesday, the U.S. Court of Appeals for the Fifth Circuit (the “court”) held that the Securities and Exchange Commission (“Commission”) exceeded its statutory authority when it adopted the Private Fund Adviser Rules (“PFAR”)…more

Certiorari, En Banc Review, Investment Adviser, Judicial Review, Pending Litigation

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Suzanne Wilson (Murray)

EPA's Reconsideration of Ethylene Oxide Under the Clean Air Act - A Sign of Future Chemicals Policy to Come?

On January 25, 2022, the U.S. Environmental Protection Agency (“EPA”) reaffirmed its interpretation of ethylene oxide (“EtO”) requirements which may signal EPA’s increased scrutiny of chemical emissions generally and the…more

Chemicals, Clean Air Act, Environmental Protection Agency (EPA), IRIS, NESHAP

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Thaddeus Wilson

Trimming Back the Claws: Eleventh Circuit Strengthens Creditor “New Value” Defense Against Avoidable Preference Lawsuits

The U.S. Court of Appeals for the Eleventh Circuit reversed a bankruptcy court’s decision which held that a “subsequent new value” defense to avoidable preference liability must be reduced by payments the creditor-defendant…more

Appeals, Bankruptcy Code, Bankruptcy Court, Liquidity, New Value Exception

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Matthew Wissa

Fake It Till You Make It: The Travel Rule And Virtual Currencies

The Travel Rule is an old friend for those familiar with banking regulations and anti-money laundering rules. The Rule, first issued by FinCEN in 1995 with fiat currency in mind, requires banks and nonbank financial institutions…more

Anti-Money Laundering, Bitcoin, Cryptocurrency, Data Security, FATF

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Ray Witt

Saudi Arabia Takes First Steps to Privatise US$50 Billion of Water Sector Assets

Ali Al-Hazmi Appointed Governor of Saline Water Conversion Corporation as Kingdom Proceeds with Vision 2030 Privatisation Initiative - The Kingdom of Saudi Arabia last week announced that Ali Al-Hazmi is replacing…more

Saudi Arabia, Water Conservation

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Wintta Woldemariam

Tech Companies Endorse Federal Data Privacy Laws In Congress

On Wednesday, September 26, representatives from some of the United States’ largest technology and communications companies appeared before Congress to testify regarding consumers’ data privacy. The Senate Committee on…more

California Consumer Privacy Act (CCPA), Consumer Privacy Rights, Data Privacy, Federal Trade Commission (FTC), Privacy Laws

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Martin Wolff

Zukunftsfinanzierung, die Zweite

Im Schneckentempo zur Energiewende - Ende August hat das Bundesministerium der Finanzen einen Referentenentwurf für ein Zweites Gesetz zur Finanzierung von zukunftssichernden Investitionen (ZuFinG II) vorgelegt. Die…more

Capital Investments, Energy Sector, Infrastructure, Investment, Real Estate Investments

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Carol Wood

Energy Newsletter - June 2020

The Impact of COVID-19 on Nuclear Electricity Sales Contracts in France - The electricity sector, like numerous others in France, has been heavily affected by the economic shutdown due to the COVID-19 pandemic. The first…more

Administrative Hearings, Amended Rules, CARB, Climate Change, Commercial Bankruptcy

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Isabella Wood

HHS, the Department of Labor, and the Department of the Treasury Release Proposed Rules and a Report to Congress regarding Mental Health Parity

On July 25, 2023, HHS, the Department of Labor, and the Department of the Treasury (the Departments) issued proposed rules (Proposed Rules) and other information regarding health plan and issuer compliance with mental health…more

Centers for Medicare & Medicaid Services (CMS), Compliance, Consolidated Appropriations Act (CAA), Department of Health and Human Services (HHS), Department of Labor (DOL)

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James Woolery

A New Era For Activist Defense: Going Beyond the Relics of the 80s

New Market Paradigm and Pandemic Impact Requires New Solutions for U.S. Public Companies - After years of tremendous economic growth, COVID-19 has unleashed unprecedented market volatility and extreme value dislocations for…more

Coronavirus/COVID-19, Corporate Governance, Corporate Strategy, Disclosure Requirements, Publicly-Traded Companies

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Sven Wortberg

BGH erklärt sog. Schriftformheilungsklauseln in Gewerberaummietverträgen für unwirksam

Der für das Gewerberaummietrecht zuständige 12. Zivilsenat des Bundesgerichtshofs („BGH“) hat am 27.09.2017 mit einem Paukenschlag die hier beigefügte Entscheidung verkündet, in welchem er zu der seit einigen Jahren kontrovers…more

Commercial Leases, Germany, Tenants

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Peter Wozniak

NLRB General Counsel Announces Intention to Pursue Expansive Remedies for Non-Compete Agreements and to Target So-Called “Stay or Pay” Agreements

On October 7, 2024, National Labor Relations Board (“NLRB”) General Counsel Jennifer A. Abruzzo issued Memorandum GC 25-01, where she argues for expansive remedies for employers who violate the National Labor Relations Act…more

Breach of Contract, Compensation, Enforcement, New Guidance, NLRA

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Christopher Wray

DOJ Issues New Corporate Compliance Guidelines; Document Outlines Criteria for the Criminal Division’s Evaluation of Corporate Compliance Programs

Recently, and without the fanfare that often accompanies new policy guidance regarding corporate fraud, the Fraud Section of the Department of Justice posted a document on its website entitled “Evaluation of Corporate Compliance…more

Acquisitions, Compliance, Corporate Fraud, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA)

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Jonathan Wu

Preparing REITs for Shareholder Activists

Hostile public company investors routinely garner headline coverage in media outlets like the New York Times and the Wall Street Journal by engaging in aggressive tactics with public companies – a strategy typically referred to…more

Corporate Governance, Publicly-Traded Companies, REIT, Shareholder Activism, Shareholder Proposals

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Eric Xie

Bank Failures May Raise CFIUS Issues

Companies need to be aware of filing requirements before taking foreign money - On March 14, 2023, after a week of three bank failures that marked the largest such crisis since 2008, policymakers continued seeking private…more

CFIUS, Corporate Counsel, Critical Infrastructure Sectors, Enforcement, Executive Orders

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Alex Yacoub

NIST Announces Plan To Develop Privacy Framework

On September 4, 2018, the National Institute for Standards and Technology (NIST) announced that it would begin a collaborative process to develop a new Privacy Framework. Modeled on the agency’s Framework for Improving Critical…more

Cybersecurity, Cybersecurity Framework, Data Privacy, NIST

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Kiel Yager

United States Supreme Court Limits Deference Standard in Kisor v. Wilkie Decision

On June 26, 2019, the United States Supreme Court issued its decision in Kisor v. Wilkie. After hearing oral arguments in March, the Court considered whether to overrule the Auer deference standard, the long-standing doctrine of…more

Administrative Agencies, Ambiguous, Appeals, Auer Deference, Kisor v Wilkie

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Lingna Yan

Energy Newsletter - January 2018

Gas Market Reform in Asia: an Update on the Implementation of Third Party Access to LNG Import Terminals - The rise of natural gas and LNG in Asia continues apace, fuelled by a convergence of plentiful global LNG supply,…more

Asia, CERCLA, China, Environmental Protection Agency (EPA), Liquid Natural Gas

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Lawrence Yanowitch

The Insider: Key Developments for Chief Legal Officers and Corporate Legal Teams

Welcome to the inaugural issue of The Insider. This new publication from King & Spalding’s Public Companies Practice, which will be produced periodically, is focused on key developments for chief legal officers and their…more

Attorney-Client Privilege, D&O Insurance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Duty to Monitor

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Michael Yates

Energy Newsletter - May 2017

Taking the Long View - How Appropriate Foresight Supports the Development and Execution of Large-Cap Construction Projects - Introduction - The arduous, start-to-finish process of developing and constructing a…more

Architects, Construction Industry, Energy Sector, Exports, Oil & Gas

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Sally Yates

DOJ Corporate Enforcement Policy Revisions Target Executive Compensation, Following Multi-Agency Trend

On March 2, 2023 and March 3, 2023, in a pair of speeches by Deputy Attorney General (DAG) Lisa Monaco and Criminal Division Assistant Attorney General (AAG) Kenneth Polite, the U.S. Department of Justice (DOJ) announced…more

Clawbacks, Compliance, Corporate Crimes, Corporate Integrity Agreement, Corporate Misconduct

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Connie Ye

Indonesia Introduces CCS/CCUS Regulation

Indonesia has set an ambitious target to reach net zero emissions by 2060. The deployment of clean energy technologies, such as carbon capture and storage (“CCS”) and carbon capture, utilization and storage (“CCUS”), will play…more

Carbon Capture and Sequestration, Carbon Emissions, Contractors, Energy Sector, Indonesia

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Vanessa Yen

“Purple Book” Patent Listing Under Biological Product Patent Transparency Act: What is Required, and What to Expect?

The Biological Product Patent Transparency Act (“BPPT”) – tucked into Congress’s omnibus spending bill (“Consolidated Appropriations Act,” H.R. 133, Pub. L. No. 116-260) signed into law on December 27, 2020 – is the first-ever…more

Abbreviated New Drug Application (ANDA), aBLA, Antitrust Violations, BPCIA, Consolidated Appropriations Act (CAA)

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Charlene Yin

Considerations for Hybrid Rule 144A and 4(a)(2) Transactions

Sophisticated investors in structured finance products are increasingly demonstrating an interest in entering the market via direct private placements pursuant to Section 4(a)(2) of the Securities Act of 1933, either in private…more

Financial Products, Hybrid Plan, Investors, Non-Disclosure Agreement, Private Placements

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Patrick Yingling

Avoiding an Ambiguous Hold Harmless Clause: What Every Lender Should Consider

Lenders rely on indemnification and hold harmless provisions in commitment and engagement letters to protect against claims that may be brought not only by third parties but by borrowers and their affiliates as well. Such…more

Ambiguous, Commitment Letter, Damages, Engagement Letters, Hold Harmless

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Christopher Yook

Court Grants Injunction to Pause Handbag Merger

On Thursday, October 24, 2024, a New York federal judge granted the Federal Trade Commission’s request for a preliminary injunction to halt the merger between Tapestry Inc. and Capri Holdings Ltd. The court held that the…more

Acquisitions, Federal Trade Commission (FTC), Mergers, Preliminary Injunctions, Retail Market

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Barrett Young

Mere Statutory FACTA Violations Are Not Enough to Establish Article III Standing

On February 2, 2018, the United States District Court for the Northern District of Alabama dismissed a Fair and Accurate Credit Transaction Act (“FACTA”) lawsuit because, among other things, the plaintiff failed to allege a…more

Article III, Debit and Credit Card Transactions, FACTA, Standing

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Christina Young

DEA's Proposed Rule to Reschedule Marijuana Could Reduce Obstacles to Medical Research but Public Input Is Needed to Fill in Knowledge Gaps

On May 16, 2024, the U.S. Drug Enforcement Administration (“DEA”) issued a Notice of Proposed Rulemaking (“NPRM”) to reclassify marijuana from Schedule I to Schedule III under the federal Controlled Substances Act (“CSA”) and…more

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Marcus Young

Register of Overseas Entities: What foreign companies need to know about buying, selling or transferring property or land in the UK

When the Economic Crime (Transparency and Enforcement) Act 2022 came into force on 15 March 2022, a key aspect was the creation of a Register of Overseas Entities with the stated aim of ensuring transparency about who ultimately…more

Beneficial Owner, Deeds, Foreign Entities, Registration Statement, Responsible Managing Officer

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Mendel Yudin

Commercial Mortgage Loan Repurchase Agreements: COVID-19 Related Issues, Temporary Agreements and What May Come Next

The abrupt halt in commercial activity caused by the 2019 Novel Coronavirus (“COVID-19”) has had a significant impact on the global economy, and in particular, the commercial real estate market. As a result, the commercial real…more

Borrowers, Commercial Mortgages, Coronavirus/COVID-19, Interest Payments, Loan Modifications

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Steven Zager

Considering a Move to Texas? Here’s What You Need to Know About Patent Litigation

California-based tech companies have increasingly been moving their operations to Texas over the last two years, a trend that has only accelerated as remote and hybrid work have become a fact of life. Whether your company has…more

Inter Partes Review (IPR) Proceeding, Judges, Patent Litigation, Patents, Texas

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Osama Zaid

The New Saudi Special Economic Zones

On 14 April 2023, the Economic Cities and Special Zones Authority (ECZA) announced the launch of four special economic zones (SEZs) in the Kingdom of Saudi Arabia (the Kingdom) to accelerate the diversification of the national…more

Exports, Foreign Investment, Imports, Investment, Investors

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Joseph Zales

Recent Developments in Coburn: Walking the Tightrope of Cooperating with DOJ while Maintaining an Independent Investigation

In February 2022, a District of New Jersey court in United States v. Coburn took the surprising step of compelling a private company to produce internal investigation materials to two of its former executives, who were indicted…more

Attorney-Client Privilege, Brady Violation, Corporate Misconduct, Department of Justice (DOJ), Evidentiary Hearings

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Hani Zedan

Saudi Arabia’s New Civil Transactions Regulation

The Civil Transactions Regulation (the “CTR”) was promulgated on 18 June 2023 and entered into force on 16 December 2023. The CTR was conceived as one of four key reforms announced in February 2021 to enhance the general…more

Breach of Contract, Contract Termination, Contract Terms, Dispute Resolution, Force Majeure Clause

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Lynette Zentgraft

FDA Issues Discussion Paper on LDTs

Following its recent announcement that it would not finalize its 2014 draft guidance on laboratory developed tests (“LDTs”), the U.S. Food and Drug Administration (“FDA”) issued a Discussion Paper on Laboratory Developed Tests…more

Centers for Medicare & Medicaid Services (CMS), CLIA, Draft Guidance, Food and Drug Administration (FDA), Laboratory Developed Tests

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Malte Zessin

Controversial Bavarian Police Law Impacts Personal Freedom, Sets Off Protests

On May 15, 2018, the Bavarian state parliament passed a new “police task law” (“PAG”) with 89 votes in favor and 67 votes against. The new law will come into effect on May 25, 2018. Bavaria’s prime minister Markus Söder of the…more

Cloud Storage, Germany, Police

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Ruoxi Zhang

IRS Provides Temporary Guidance on the Treatment of Certain Stock Distributions by Publicly Offered REITs and RICs

On May 4, 2020, the Internal Revenue Service (the “IRS”) released temporary guidance (Revenue Procedure 2020-19, or “the Revenue Procedure”) on the treatment of certain stock distributions by publicly offered real estate…more

IRS, Mortgage REITS, Popular, Revenue Procedures, RICs

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Jennifer Lynn Zheng

CARB Strictly Interprets Performance Aftermarket Part Laws in New Enforcement Advisory

CARB takes the position that distributors, sellers, and installers of uncertified performance aftermarket parts are liable for any illegal use of those products. On July 10, the California Air Resources Board (“CARB”)…more

Aftermarket Purchases, CARB, Executive Orders, Motor Vehicles, Safe Harbors

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Qisheng Zheng

NAIC's Focus on Investment Management Agreements (IMAs) involving Private Equity-Owned Insurers

As private equity investors continue to increase their presence in the insurance industry with acquisitions of insurers and reinsurance of blocks of insurance contracts through insurer portfolio companies and segregated cells,…more

Conflicts of Interest, Insurance Industry, Investment Management, Investors, Life Insurance

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Amber Zinn

Pre-Marketing: Risks and Considerations Relating to Bespoke Securitization Transactions

The current volatility in financial markets has caused an increase in interest in pre-marketing certain bespoke securitization transactions, including esoteric, real estate-based, whole business, music royalty and digital…more

Appraisal, Due Diligence, Financial Markets, Indemnification, Investors

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Stuart Zisman

Energy Newsletter - March 2020

Disrupting the Disruptor: How a Prepared and Proactive Owner Can Mitigate the Effects of Coronavirus on Construction Projects - Once a remote health issue in China, the rapidly spreading coronavirus (COVID-19) has become not…more

Construction Project, Coronavirus/COVID-19, Energy Sector, Final Rules, Force Majeure Clause

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Iliya Zotkin

Russian Duma Approves Draft Law on Countersanctions

On May 22, 2018 Russia’s State Duma (the lower house of parliament) passed the third and final reading of the draft law "On measures to influence (counteract) the unfriendly actions of the United States of America and (or) other…more

Economic Sanctions, Exports, Imports, Russia

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