President Joe Biden signed an Executive Order (E.O.) on Sept. 15, 2022, clarifying and elaborating key U.S. industries and business sectors that should expect heightened regulatory scrutiny from the Committee on Foreign...more
9/20/2022
/ Acquisitions ,
Biden Administration ,
CFIUS ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Export Controls ,
FIRRMA ,
Foreign Investment ,
Mergers ,
National Security ,
OSTP ,
Personally Identifiable Information ,
Popular ,
Supply Chain
The Department of Defense's (DoD) Defense Counterintelligence and Security Agency (DCSA)1 hosted its 26th Annual Conference on Foreign Ownership, Control, or Influence (FOCI Conference) on Aug. 25, 2022, which was attended by...more
China Practice Newsletter Holland & Knight invites you to read our China Practice Newsletter, in which our authors discuss pertinent Sino-American topics. The firm provides legal assistance to Chinese investors and companies...more
9/2/2022
/ Advertising ,
CFIUS ,
China ,
Cryptocurrency ,
Digital Assets ,
Estate Planning ,
Federal Trade Commission (FTC) ,
Foreign Investment ,
Forensic Accounting ,
Forensic Examination ,
FTC Endorsement Guidelines ,
Internal Investigations ,
National Security ,
Social Media
Since late July, at least 10 lawsuits have been filed against large 401(k) plan sponsors that offer certain BlackRock Inc. target-date funds (TDF) among their investment options. In an unexpected pivot away from the 401(k)...more
9/1/2022
/ 401k ,
Benefit Plan Sponsors ,
BlackRock ,
Class Action ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employment Litigation ,
Excessive Fees ,
Fiduciary Duty ,
Index Funds ,
Mutual Funds ,
Retirement Plan ,
Target Date Funds
The U.S. Department of the Treasury, in its role as chair of the Committee on Foreign Investment in the United States (CFIUS), released the public version of its Annual Report to Congress for Calendar Year 2021 (Annual...more
8/24/2022
/ CFIUS ,
Corporate Counsel ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Cross-Border Transactions ,
Due Diligence ,
Emerging Technology Companies ,
Filing Requirements ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
International Trade ,
National Security
Are you looking to hire a star engineer who is a foreign national? Are you considering raising capital from a foreign venture capital firm or other foreign investor? Are you interested in sourcing components or creating...more
8/5/2022
/ CFIUS ,
China ,
Compliance ,
Due Diligence ,
Early Stage Companies ,
Economic Sanctions ,
EU ,
Exports ,
Foreign Investment ,
Imports ,
Israel ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Risk Management ,
Russia ,
SDN List ,
Strategic Planning ,
Supply Chain ,
Trade Restrictions ,
US Trade Policies
The bipartisan Uyghur Forced Labor Prevention Act (UFLPA) went into effect on June 21, 2022. Moving forward, any goods mined, produced or manufactured wholly or in part in the Xinjiang Uyghur Autonomous Region (XUAR) of the...more
7/14/2022
/ Biden Administration ,
China ,
Customs and Border Protection ,
Enforcement ,
Entity List ,
Federal Agency Taskforce ,
Forced Labor ,
Human Rights ,
Importers ,
Imports ,
Supply Chain ,
Trade Restrictions ,
US Trade Policies ,
Uyghur Forced Labor Prevention Act (UFLPA)
The interagency Committee on Foreign Investment in the United States (CFIUS or the Committee) hosted its 2022 Inaugural Conference on June 16, 2022. In its capacity as chair of CFIUS, the U.S. Department of the Treasury...more
7/6/2022
/ Big Data ,
CFIUS ,
Cross-Border Transactions ,
Department of Defense (DOD) ,
Department of Homeland Security (DHS) ,
Department of Justice (DOJ) ,
Enforcement Priorities ,
Foreign Investment ,
National Intelligence Agencies ,
National Security ,
Risk Mitigation ,
U.S. Commerce Department ,
U.S. Treasury
U.S. Customs and Border Protection (CBP) released long-awaited Operational Guidance for Importers (Operational Guidance) on June 13, 2022, to assist importers in preparing for the implementation of the Uyghur Forced Labor...more
6/17/2022
/ Biden Administration ,
China ,
Compliance Dates ,
Customs and Border Protection ,
Forced Labor ,
Human Rights ,
Importers ,
Imports ,
New Guidance ,
Supply Chain ,
Trade Restrictions ,
US Trade Policies ,
Uyghur Forced Labor Prevention Act (UFLPA) ,
Withhold Release Orders (WROs)
Under the IRS Employee Plans Compliance Resolution System (EPCRS), as set forth in Revenue Procedure 2021-30, a plan that has been notified of an impending audit cannot remedy issues using the Voluntary Correction Program,...more
The U.S. Department of Commerce's Bureau of Industry and Security (BIS) on May 23, 2022, published in the Federal Register a proposed rule that would place unilateral export controls on four naturally occurring marine toxins...more
In a letter sent to President Joe Biden on April 19, 2022, the Republican-led, special congressional task force known as the China Task Force (CTF) expressed concerns over the takeover of Newport Wafer Fab (NWF), a Welsh...more
5/24/2022
/ Acquisitions ,
Biden Administration ,
CFIUS ,
China ,
Export Controls ,
Foreign Acquisitions ,
Foreign Investment ,
National Security ,
Semiconductors ,
State-Owned Enterprises ,
UK
The U.S. International Trade Commission (USITC) announced in a notice issued on May 5, 2022, the commencement of a retrospective investigation of the economic impacts of Section 301 and Section 232 tariffs on the most...more
5/20/2022
/ Canada ,
China ,
Comment Period ,
Consolidated Appropriations Act (CAA) ,
Filing Deadlines ,
International Trade Commission (ITC) ,
Mexico ,
Public Comment ,
Public Hearing ,
Section 232 ,
Section 301 ,
Tariffs ,
Trade Act of 1974 ,
Trade Expansion Act of 1962 ,
Trump Administration ,
USTR
The U.S. District Court for the District of Massachusetts has dismissed an Employee Retirement Income Security Act (ERISA) class action lawsuit challenging a retirement plan's use of an outdated mortality table in calculating...more
The Internal Revenue Service (IRS) issued expansive proposed regulations (the Proposed Regulations) on Feb. 24, 2022, reflecting the required minimum distribution (RMD) rules as set out in the Setting Every Community Up for...more
In response to COVID-19, the Internal Revenue Service (IRS) and Employee Benefits Security Administration (EBSA) have issued key notices and guidance that provide companies with extensions for filing deadlines and other...more
Congress has completed three rounds of legislation in response to the COVID-19 pandemic and resulting economic crisis. The first round, which included an $8.3 billion supplemental appropriation, was signed into law on March...more
• The Internal Revenue Service (IRS) has updated its Operational Compliance List for retirement plans with a number of changes that take effect in 2019, with a focus on changes to hardship distributions.
• The Operational...more
5/24/2019
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Bipartisan Budget Act ,
Determination Letter ,
Employee Benefits ,
Hardship Distributions ,
IRS ,
Proposed Regulation ,
Qualified Retirement Plans ,
Retirement Plan ,
Revenue Procedures ,
Safe Harbors ,
U.S. Treasury
President Donald Trump issued a memorandum on Feb. 3, 2017, directing the U.S. Department of Labor (DOL) to reconsider the regulations that change the definitions of fiduciary and fiduciary advice. The regulations,...more
President Donald Trump took the oath of office on Jan. 20, 2017, officially ushering in Republican control of the executive and legislative branches of government. With Republican control of both houses of Congress, and a new...more
1/23/2017
/ Affordable Care Act ,
Cadillac Tax ,
Department of Labor (DOL) ,
Employee Benefits ,
Employer Mandates ,
Excise Tax ,
Fiduciary Duty ,
Fiduciary Rule ,
Health Insurance ,
Health Savings Accounts ,
Healthcare ,
Healthcare Reform ,
Investment Management ,
Medicaid ,
Retirement Plan ,
Small Business ,
Tax Credits ,
Trump Administration
Holland & Knight's West Coast Land Use and Environment Practice Group has provided an update to its "In the Name of the Environment" report, detailing California Environmental Quality Act (CEQA) lawsuits that targeted housing...more
The Internal Revenue Service (IRS) on June 21, 2016, published long-awaited proposed rules on nonqualified deferred compensation plans under Section 409A of the Internal Revenue Code of 1986, as amended (Section 409A). These...more
On April 6, 2016, the U.S. Department of Labor (DOL) released its long-awaited final regulations defining who is a fiduciary investment adviser (the Final Rule), along with related prohibited transaction class exemptions and...more
4/11/2016
/ Business Advice ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
Fiduciary Duty ,
Final Rules ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
PTEs ,
Retirement Plan
For the ESOP fiduciary of a publicly traded employer, the Supreme Court has made clear that non-public insider information is not required to be used in reaching a decision to buy, hold or sell employer securities....more
HIGHLIGHTS -
- The Treasury Department and the IRS released final regulations regarding amounts used by a qualified plan to pay for accident or health insurance premiums. Under the regulations, there is one notable...more