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Cozen O'Connor

Joint Guidelines for Secure AI Deployment

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New cybersecurity guidance for artificial intelligence (AI) systems, available here, was recently issued jointly by the U.S. Cybersecurity and Infrastructure Security Agency (CISA), the FBI, the National Security Agency’s...more

Goodwin

“Open Banking” Promoted in New CFPB Rule

Goodwin on

​​​​​​​In October 2023, the Consumer Financial Protection Bureau (CFPB) proposed a new rule intended to encourage “open banking”. “Open banking” is a practice of sharing, with consent, consumers’ banking and financial data...more

BCLP

Open Banking: When You Build It, Will They Come? CFPB Proposes Rules Requiring Banks to Share Consumer Data

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The federal consumer protection agency’s proposed rule would give consumers greater control over access to their personal financial information held by banks and credit unions. The CFPB’s stated goal is to increase...more

Goodwin

FINRA Requests Comment on Its Machine-Readable Rulebook Initiative

Goodwin on

Regulatory Developments - FINRA Requests Comment on Its Machine-Readable Rulebook Initiative - On October 21, FINRA released a special notice requesting comment on the launch of its MRR initiative. The MRR is designed...more

Locke Lord LLP

Proposed Changes to Code Section ‎‎1061 Contemplate Significant Changes for Real Estate Funds ‎and Developers

Locke Lord LLP on

The “Inflation Reduction Act of 2022” recently announced by Senators Manchin and Shumer to be added to the 2022 Budget Reconciliation bill proposes several significant changes to Section 1061 of the Internal Revenue Code of...more

Jackson Lewis P.C.

Carried Interest/Promote in 2022: Action Items for Investment, Private Equity, Real Estate Fund Managers

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Investment, private equity, and real estate fund managers should consider becoming familiar with the complex final regulations on the preferential tax treatment of “carried interest” under Section 1061 of the Internal Revenue...more

Fox Rothschild LLP

What is the Online Privacy Act of 2021?

Fox Rothschild LLP on

U.S. Congresswomen Anna Eshoo (D-California) and Zoe Lofgren (D-California) have reintroduced House Resolution 6027 for the Online Privacy Act of 2021. Some of the bill’s key differentiators from CCPA, CDPA and CPA:...more

McCarter & English, LLP

All Is Fair In Google And Oracle: Supreme Court Says Google’s Copying Was Fair Use In Landmark Copyright Case

Was it fair for Google to copy 11,500 lines of Oracle’s copyrighted Java Application Programming Interface (API) simply to make it easier for programmers already familiar with Java to develop apps for Google’s Android...more

BakerHostetler

Carried Interest Update: Final Regulations Provide Taxpayer-Favorable Rules, but Unanswered Questions Linger

BakerHostetler on

On Jan. 19, 2021, the Internal Revenue Service and the Treasury Department published final regulations on the Section 1061 “carried interest” rules (T.D. 9945). The final regulations generally adopt proposed regulations...more

ArentFox Schiff

President Biden Orders 100-Day Review of America’s Supply Chains for Semiconductors, Batteries, Critical Minerals and APIs

ArentFox Schiff on

Changes are afoot for key industry sectors with complicated global supply chains. “As this pandemic has made clear, we can never again be in a position where we have to rely on a foreign country that doesn’t share our...more

Cole Schotz

Carried Interests: Final Capital Gain Recharacterization Rules Released

Cole Schotz on

In the 2017 Tax Act, Congress adopted Code §1061, a provision which affects non-corporate holders of certain carried interests, which the new law refers to as applicable partnership interests (“APIs”). Under the new law,...more

Gould + Ratner LLP

IRS Finalizes Carried Interest Regulations

Gould + Ratner LLP on

The IRS and Treasury Department released final regulations on January 7, 2021, that govern the tax treatment of partnership and LLC interests related to services, so-called carried interests, a/k/a applicable partnership...more

Husch Blackwell LLP

Update: Information Blocking Rule Deadline Delayed, But Telehealth Still In Play

Husch Blackwell LLP on

On October 29, 2020, HHS extended the effective date of compliance for the “Information Blocking” final rule promulgated as part of the 21st Century Cures Act (Information Blocking Rule). The Information Blocking Rule, which...more

White & Case LLP

The European Commission starts two new studies into the mobile payment sector

White & Case LLP on

The mobile payments sector is on regulatory tenterhooks following the increase in the use of mobile wallets and the entry of new competitors, including tech companies, in the sector. The European Commission ("EC") just...more

Skadden, Arps, Slate, Meagher & Flom LLP

Open Banking: Navigating the Emerging Regulatory Landscape

Open banking is an important driver of the fintech revolution. Regulators have recognised open banking as a means of introducing competition and innovation in the banking sector. Likewise, fintechs are seizing the...more

MoFo Life Sciences

China Patent Linkage Update: Codification And Rulemaking

MoFo Life Sciences on

On July 3, 2020, China’s National People’s Congress published the second draft of the latest amendment to China’s Patent Law (the “Draft Amendment”) for public comments, which were allowed to be submitted by August 16, 2020....more

Alston & Bird

FDA Issues New Guidance on Nitrosamine Impurities in APIs and Drug Products

Alston & Bird on

Our FDA Compliance & Enforcement Team reviews how the Food and Drug Administration’s first guidance on nitrosamine impurities shows what the FDA has learned about the sources of such impurities and what manufacturers can do...more

K&L Gates LLP

IRS Issues Section 1061 Proposed Regulations

K&L Gates LLP on

Prior to 2017 Tax Cuts and Jobs Act (TCJA), private equity fund, hedge fund, and other investment fund or asset managers that received an interest in an entity taxed as a partnership for U.S. federal income tax purposes (a...more

Foley & Lardner LLP

What You Need to Know about President Trump’s Executive Order to Strengthen the Domestic Supply Chain for Essential Drugs and...

Foley & Lardner LLP on

On August 6, 2020, President Trump signed an Executive Order (“Order”) to ensure essential medicines, medical countermeasures, and critical inputs are made in the United States. The President recognized that reliable...more

Fox Rothschild LLP

New OCR Resource Adds Guidance On HIPAA And Direct-To-Consumer Health Apps

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A tricky issue for mobile health app developers since the Office for Civil Rights (OCR) released its first “Health App Use Scenarios & HIPAA” guidance back in 2016 has been deciphering whether the developer is a business...more

King & Spalding

New FDA Guidance on Control of Nitrosamine Impurities

King & Spalding on

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

Goodwin

Highlights From The Proposed Carried Interest Regulations

Goodwin on

The U.S. Treasury Department and the Internal Revenue Service recently released proposed regulations under Section 1061 of the Internal Revenue Code of 1986, as amended.1 Congress enacted Section 1061 in 2017 in order to...more

Kramer Levin Naftalis & Frankel LLP

Long-Awaited Treasury Regulations Address the Application of Section 1061 to Carried Interests

On July 31, the Department of the Treasury (Treasury) and the Internal Revenue Service (the Service) issued proposed regulations (REGS-107213-18) (Proposed Regulations) governing the treatment of “carried interests” (also...more

BakerHostetler

Proposed Regulations Provide Guidance on Taxation of Carried Interests

BakerHostetler on

On July 31, the IRS and the Treasury Department released long-awaited proposed regulations on the Section 1061 “carried interest” rules. The proposed regulations include extensive definitional and operational rules on the...more

Proskauer Rose LLP

Key Takeaways from the Proposed Regulations on Carried Interest

Proskauer Rose LLP on

On July 31, 2020, the Internal Revenue Service (the “IRS”) and the U.S. Department of the Treasury (the “Treasury”) issued proposed regulations (the “Proposed Regulations”) providing guidance on Section 1061 of the Code, as...more

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