Paul Hastings LLP

Contact
Share
Info
515 South Flower Street
Twenty-Fifth Floor
Los Angeles, CA 90071, United States
Phone: (213) 683-6000
Fax: (213) 627-0705
Areas Of Practice
  • Alternative Dispute Resolution (ADR)
  • Antitrust & Trade Regulation
  • Appellate Practice
  • Art, Entertainment, & Sports Law
  • Bankruptcy
  • Class Action
  • Communications & Media Law
  • Criminal Law
  • Energy & Utilities
  • Environmental Law
  • Finance & Banking
  • Government
  • Health
  • Intellectual Property
  • International Law & Trade
  • Labor & Employment Law
  • Litigation
  • Mergers & Acquisitions
  • Privacy
  • Real Estate
  • Science, Computers, & Tech
  • Securities Law
  • Taxation
  • Zoning, Planning & Land Use
See more
Locations
Other U.S. Locations
  • California
  • D.C.
  • Georgia
  • Illinois
  • New York
  • Texas
Other Countries
  • Belgium
  • Brazil
  • China
  • France
  • Germany
  • Hong Kong
  • Japan
  • South Korea
  • United Kingdom
Number of Attorneys
800+ Attorneys

California Supreme Court In Adolph v. Uber Has “Last Word” On PAGA Standing

The California Supreme Court’s long-awaited “last word” (for now) on statutory standing post-Viking River Cruises v. Moriana is here: a plaintiff compelled to arbitrate individual claims brought under the Private Attorneys…more

Arbitration Agreements, CA Supreme Court, Class Action, Labor Law Violations, Private Attorneys General Act (PAGA)

See all updates »

Viking Victory: Supreme Court Holds PAGA Cannot Circumvent Arbitration Agreement

In the latest chapter regarding arbitration agreement enforcement, the U.S Supreme Court has rejected California’s rule precluding arbitration of California Labor Code Private Attorneys General Act (“PAGA”) claims…more

Arbitration, Arbitration Agreements, Class Action, Class Action Arbitration Waivers, Federal Arbitration Act

See all updates »

NYC Employers Required to Post and Provide the City’s Workers’ Bill of Rights

In December 2023, New York City’s Mayor signed into law a new section of the New York City Administrative Code (Local Law 161, §32-102) that requires the Department of Consumer and Worker Protection (DCWP), in conjunction with…more

City of New York, Employee Rights, Local Ordinance, Posting Requirements

See all updates »

FTC Proposed Ban on Non-Competes Includes M&A Exception Comparable to California Law

On January 5, 2023, the Federal Trade Commission (“FTC”) announced a proposed regulation (the “Proposed Rule”) that would ban non-compete agreements imposed against workers by employers. The Proposed Rule includes a narrow…more

Employment Contract, Exceptions, Federal Trade Commission (FTC), Non-Compete Agreements, NPRM

See all updates »

Navigating Control Mechanisms in Startups

The question of control is pivotal for startups and their investors. Startup founders naturally desire influence over their company's direction, but when external investors enter the picture, the dynamics of control often…more

Capital Raising, Dual Class Share Structures, Early Stage Companies, Initial Public Offering (IPO), Investors

See all updates »

Judicial Review of Japanese poison pills from the perspective of shareholder coercion—Between Shareholders’ meeting and Board of Directors meeting, which corporate organ is better situated to evaluate the issue?

Since 2005, Japanese courts have reviewed the legality of many poison pills and whether they can withstand the shareholder equality principle. Among those cases, of particular interest have been (a) how courts evaluate approval…more

Board of Directors, Coercion, Hostile Takeover, Poison Pill, Shareholder Rights

See all updates »

NDCA’s New Whistleblower Pilot Program: A Unique Focus on Reporting Intellectual Property Theft

On March 18, 2024, Ismail Ramsey (“Ramsey”), the U.S. Attorney for the Northern District of California (“NDCA”), announced the launch of NDCA Whistleblower Pilot Program (the “Pilot Program”), a significant new policy that…more

Corporate Crimes, Corporate Misconduct, Department of Justice (DOJ), Intellectual Property Protection, National Security

See all updates »

Brazil’s Accession to the OECD – This is where the serious things begin

In June 2022, Brazil hosted a set of meetings between Latin American and OECD countries, during which economic policies, education, and productivity matters were discussed…more

Anti-Bribery, Anti-Corruption, Brazil, Economic Development, Environmental Social & Governance (ESG)

See all updates »

What Employers Need to Know about the SCOTUS Affirmative Action Decision

Federal law governing affirmative action and non-discrimination in employment is unaffected by the Supreme Court’s highly publicized affirmative action decision published June 29, 2023. Still, the decision is sure to intensify…more

Affirmative Action, Civil Rights Act, College Admissions, Diversity, Employer Liability Issues

See all updates »

Key implications of the European Commission Report on the EU Securitisation Regulation for European CLO managers and investors

A new European Commission report on the functioning of the EU Securitisation Regulation addresses key uncertainties in existing interpretations of the EU Securitisation Regulation in the European CLO market. Some of the European…more

Disclosure Requirements, Environmental Social & Governance (ESG), European Banking Authority (EBA), European Commission, European Securities and Markets Authority (ESMA)

See all updates »

CFPB: Fixing Something That’s Not Broken – But Setting Forth a Framework for Abusive Conduct

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) recently issued a proposed rule that would prohibit financial institutions from charging nonsufficient funds (“NSF”) fees on instantaneously declined transactions…more

Consumer Financial Products, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

See all updates »

FTC Announces Expansive and Unprecedented Non-compete Ban

On April 23, 2024, the Federal Trade Commission (FTC) adopted a Non‑Compete Clause Rule (the “Rule”) prohibiting most employee non‑compete agreements as unfair methods of competition by a vote of 3 to 2. The Rule is a somewhat…more

Apprenticeships, Chamber of Commerce, Federal Trade Commission (FTC), Independent Contractors, Internships

See all updates »

SVB Receivership – Considerations for Agents and Lenders

Background- On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for SVB…more

Agents, Bank Deposits, Banks, Board of Governors, Borrowers

See all updates »

With Japan's Ratification, the Singapore Mediation Convention Gains International Momentum

On October 1, 2023, Japan became the twelfth nation to ratify the United Nations Convention on International Settlement Agreements Resulting from Mediation (the “Singapore Convention”). Pursuant to Japanese domestic legislation,…more

International Arbitration, International Litigation, Japan, Mediation, Ratification

See all updates »

Right to Reproductive Health Care Privacy

HHS announced modifications last week to the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”) Privacy Rule, that will strengthen privacy protections for reproductive health care information. The Final Rule,…more

Abortion, Biden Administration, Department of Health and Human Services (HHS), Dobbs v. Jackson Women’s Health Organization, Employer Liability Issues

See all updates »

SCOTUS Removes ‘Significant Harm’ Requirement for Title VII Transfer Suits

On April 17, 2024, the Supreme Court decided Muldrow v. St. Louis, No. 22‑193, holding that Title VII of the Civil Rights Act of 1964 prohibits discriminatory job transfers that cause “some harm” with respect to the terms,…more

Adverse Employment Action, Civil Rights Act, Employee Transfers, Employer Liability Issues, Employment Discrimination

See all updates »

Get Ready California Employers! A Wave Of New Employment Laws Set To Kick In Next Year.

Another New Year means another flurry of new laws for California employers. Indeed, Governor Newsom had another busy October, signing over a dozen employee-friendly bills touching everything from cannabis use to workplace…more

California, Discrimination, Drug Testing, Fast-Food Industry, FEHA

See all updates »

Get Ready California Employers! A Wave Of New Employment Laws Set To Kick In Next Year.

Another New Year means another flurry of new laws for California employers. Indeed, Governor Newsom had another busy October, signing over a dozen employee-friendly bills touching everything from cannabis use to workplace…more

California, Discrimination, Drug Testing, Fast-Food Industry, FEHA

See all updates »

What Employers Need to Know about the SCOTUS Affirmative Action Decision

Federal law governing affirmative action and non-discrimination in employment is unaffected by the Supreme Court’s highly publicized affirmative action decision published June 29, 2023. Still, the decision is sure to intensify…more

Affirmative Action, Civil Rights Act, College Admissions, Diversity, Employer Liability Issues

See all updates »

OFAC Revokes General Authorization for Venezuelan Oil and Gas Sector But Permits Limited Wind-Down Transactions

Broad authorizations permitting dealings in Venezuela’s oil and gas sector came to an end on April 17, 2024, when the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) terminated General…more

Economic Sanctions, General Licenses, Office of Foreign Assets Control (OFAC), Oil & Gas, SDN List

See all updates »

Key Takeaways from the National Cybersecurity Strategy

On March 3, 2023, the White House released the National Cybersecurity Strategy. The White House described this as the blueprint for a long-term effort by the Biden administration in cooperation with Congress and the private…more

Corporate Counsel, Corporate Liability, Critical Infrastructure Sectors, Cybersecurity, Federal Contractors

See all updates »

State of Electric Interconnection and Transmission Regulation: Staying Alert to Imminent Developments and Getting Involved - UPDATED April 16 2024

Update: Order No. 2023-A was published in the Federal Register on April 16, 2024. Compliance filings to Order Nos. 2023 and 2023-A are due on May 16, 2023 The electric industry is in the midst of a period of significant growth…more

Energy Sector, FERC, Interconnections, ISO/RTO, Large Generators

See all updates »

FinCEN’s Mixer 311 Has Immediate Impacts for U.S. Financial Institutions and De-Fi Protocols

On October 19, FinCEN announced its determination that transactions with foreign operating crypto-mixers, a service that obfuscates the source and destination of transactions on a public blockchain, are of “Primary Money…more

Bank Secrecy Act, Convertible Virtual Currencies (CVCs), Cryptocurrency, Decentralized Finance (DeFi), Financial Institutions

See all updates »

SEC Department of Examinations Issues Risk Alert on Marketing Rule Deficiencies

Last week, the Securities and Exchange Commission’s Division of Examinations (“DOE”) issued a Risk Alert (the “Alert”) entitled “Initial Observations Regarding Advisers Act Marketing Rule Compliance.” The Alert describes several…more

Compliance, Documentation, Investment Adviser, Marketing, Registered Investment Advisors

See all updates »

Multi-Stakeholder Initiatives and Mandatory Due Diligence

While it might seem counterintuitive, as business and human rights continues a sprint toward a mandatory paradigm, voluntary multi-stakeholder initiatives (“MSIs”) are perhaps more important than ever before. MSIs provide…more

Corporate Governance, Due Diligence, EU, Human Rights, Shareholders

See all updates »

SEC Adopts Long-Awaited SPAC Rules

On January 24, 2024, nearly two years after the SEC initially proposed industry-chilling rules overhauling the treatment of special purpose acquisition companies (“SPACs”) in their IPOs and de-SPAC transactions, the SEC adopted…more

Conflicts of Interest, Corporate Counsel, Dilution, Final Rules, Financial Statements

See all updates »

CFPB: Fixing Something That’s Not Broken – But Setting Forth a Framework for Abusive Conduct

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) recently issued a proposed rule that would prohibit financial institutions from charging nonsufficient funds (“NSF”) fees on instantaneously declined transactions…more

Consumer Financial Products, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

See all updates »

Market Intersection: A Quarterly Look at the U.S. Credit Markets 1Q23

General market unease in the first fiscal quarter of 2023 was evident. The back-to-back collapse of two regional banks spooked investors and the effects of two federal rate increases rippled through the market. Uncertainty in…more

Banks, Bond Markets, Borrowers, Financial Institutions, Investment

See all updates »

Reign Turns to Clouds—The Western District of Texas Fundamentally Changes Its Assignment Procedure for Patent Cases

On Monday, July 25, the Chief Judge for the Western District of Texas issued an order altering how patent cases are assigned in that District. The order implements a “random assignment” procedure that now prevents plaintiffs…more

Administrative Patent Judges, Assignments, Judges, Judicial Districts, Patent Litigation

See all updates »

Safe Harbor in the Coming Enforcement Storm? DOJ Announces New M&A Policy to Encourage Compliance

On October 4, 2023, Deputy Attorney General Lisa Monaco (the “DAG”) announced a new Mergers & Acquisitions (“M&A”) Safe Harbor Policy issued by the Department of Justice (“DOJ”) as part of her comments detailing increased…more

Anti-Corruption, Antitrust Division, Compliance, Corporate Governance, Corporate Misconduct

See all updates »

FTC Proposed Ban on Non-Competes Includes M&A Exception Comparable to California Law

On January 5, 2023, the Federal Trade Commission (“FTC”) announced a proposed regulation (the “Proposed Rule”) that would ban non-compete agreements imposed against workers by employers. The Proposed Rule includes a narrow…more

Employment Contract, Exceptions, Federal Trade Commission (FTC), Non-Compete Agreements, NPRM

See all updates »

Closing in on Security-Based Swaps – SEC Finalizes Antifraud Rules

On June 7, 2023, the Securities and Exchange Commission adopted final rule 9j-1 (“Rule 9j-1”)1 under the Securities Exchange Act of 1934 (the “Act”). Rule 9j-1 is designed to prevent fraud, manipulation, and deception in…more

10b5-1 Plans, CDS, Chief Compliance Officers, Fraud, Price Manipulation

See all updates »

The Supreme Court Clarifies Who May Sue Under Section 11 of the Securities Act

On June 1, 2023, the Supreme Court issued a unanimous decision in Slack Technologies, LLC v. Pirani, holding that a plaintiff asserting a claim under Section 11 of the Securities Act of 1933 (the “Securities Act”) must plead and…more

Initial Public Offering (IPO), SCOTUS, Section 11, Securities Act of 1933, Securities and Exchange Commission (SEC)

See all updates »

H1 2022 Energy and Infrastructure Round-up

Welcome to our H1 2022 Energy and Infrastructure Round-up. Here we share our assessment of key legal and transactional developments in the energy and infrastructure market including: •Market Activity- •Market Commentary-…more

BEIS, Divestiture, Energy Sector, Environmental Social & Governance (ESG), European Commission

See all updates »

SEC Department of Examinations Issues Risk Alert on Marketing Rule Deficiencies

Last week, the Securities and Exchange Commission’s Division of Examinations (“DOE”) issued a Risk Alert (the “Alert”) entitled “Initial Observations Regarding Advisers Act Marketing Rule Compliance.” The Alert describes several…more

Compliance, Documentation, Investment Adviser, Marketing, Registered Investment Advisors

See all updates »

SFDR II – No root and branch reform, please - Stay Current March 2024

The Targeted Consultation Document on the Implementation of the Sustainable Finance Disclosures Regulation (“SFDR Consultation”) published on 14 September 2023 engendered an industry and media storm, with commentators referring…more

Corporate Governance, Disclosure Requirements, Environmental Social & Governance (ESG), SFDR, Sustainability

See all updates »

SEC Adopts Long-Awaited SPAC Rules

On January 24, 2024, nearly two years after the SEC initially proposed industry-chilling rules overhauling the treatment of special purpose acquisition companies (“SPACs”) in their IPOs and de-SPAC transactions, the SEC adopted…more

Conflicts of Interest, Corporate Counsel, Dilution, Final Rules, Financial Statements

See all updates »

From General Discretion to Agency Authority? FDA’s Bold Bid to Regulate Laboratory Developed Tests

After years of FDA discussion and failed congressional efforts to assert greater oversight of laboratory developed tests (LDTs), FDA has proposed a rule that would require many LDTs to comply with FDA’s requirements for in vitro…more

CLIA, Clinical Laboratories, Diagnostic Tests, Food and Drug Administration (FDA), Laboratory Developed Tests

See all updates »

The Missing Piece to California’s Regulatory Puzzle for Accelerating Renewable Energy Development?

California has long been a leader in the development of renewable energy and the transition to a carbon-free economy. The State recently demonstrated its continuing leadership with the enactment of a new law that may streamline…more

California, California Energy Commission, CEQA, Environmental Impact Report (EIR), Governor Newsom

See all updates »

CFPB: Fixing Something That’s Not Broken – But Setting Forth a Framework for Abusive Conduct

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) recently issued a proposed rule that would prohibit financial institutions from charging nonsufficient funds (“NSF”) fees on instantaneously declined transactions…more

Consumer Financial Products, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

See all updates »

The End of California’s Anti-Arbitration Statute: Ninth Circuit Holds AB 51 is Preempted by the FAA

Bringing an end to the saga of California’s Assembly Bill 51, the Ninth Circuit Court of Appeals in Chamber of Commerce v. Bonta has held, in a 2-1 decision, that the Federal Arbitration Act preempts California’s…more

Arbitration, Arbitration Agreements, California, Federal Arbitration Act, FEHA

See all updates »

California Legislature Votes to Dramatically Expand Pay Transparency and Reporting Requirements

On August 30, 2022, the California Legislature passed SB 1162, which expands pay transparency and reporting requirements for employers doing business in California. If signed by Governor Gavin Newsom, the bill will amend Section…more

California, Disclosure Requirements, Governor Newsom, Pay Transparency, Reporting Requirements

See all updates »

The Fixed/Floating Distinction: Either Fixing a Fixed Charge or Seeing that the Floating Charge Floats, Not in Between

A lender’s decision between taking a fixed charge and taking a floating charge requires it to weigh a multitude of pros and cons. A fixed charge ranks ahead of an earlier floating charge that has not crystallized when the fixed…more

Asset Management, Charging Orders, Collateral, Debt, Financial Institutions

See all updates »

SVB Receivership – Considerations for Agents and Lenders

Background- On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for SVB…more

Agents, Bank Deposits, Banks, Board of Governors, Borrowers

See all updates »

CISA Proposes Sweeping Cybersecurity Incident Reporting for U.S. Companies

On March 27, 2024, the Cybersecurity & Infrastructure Security Agency (“CISA”) released proposed regulations requiring expansive new cybersecurity incident and ransomware payment reporting across sixteen “critical infrastructure…more

Critical Infrastructure Sectors, Cyber Attacks, Cyber Incident Reporting, Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA), Cybersecurity

See all updates »

Investment Funds & Private Capital Market Insights: SEC Adopts Scaled-Back Version of Private Fund Rules (Part 2 of 2)

Part 2 of the Paul Hastings’ Investment Funds and Private Capital team’s review of the new Private Fund Rules explores the new rules in-depth, and provides additional perspective on market practices that may evolve in response…more

Audits, Competition, Documentation, Exempt Reporting Advisers (ERAs), Grandfathering Rules

See all updates »

Pecuniary vs. Nonpecuniary Factors: Understanding the Potential Scope of Anti-ESG Restrictions in U.S. State Laws

Executive Summary and Overview- State anti-ESG lawmakers have enacted legislation aimed at restricting investors from considering ESG factors in their investment strategies and decisions by requiring state financial…more

Climate Change, Corporate Governance, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Environmental Social & Governance (ESG)

See all updates »

SVB Receivership – Considerations for Agents and Lenders

Background- On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for SVB…more

Agents, Bank Deposits, Banks, Board of Governors, Borrowers

See all updates »

Safe Harbor in the Coming Enforcement Storm? DOJ Announces New M&A Policy to Encourage Compliance

On October 4, 2023, Deputy Attorney General Lisa Monaco (the “DAG”) announced a new Mergers & Acquisitions (“M&A”) Safe Harbor Policy issued by the Department of Justice (“DOJ”) as part of her comments detailing increased…more

Anti-Corruption, Antitrust Division, Compliance, Corporate Governance, Corporate Misconduct

See all updates »

Loan Market Update: Q1-Q3 Recap, Trends & What’s Next

From Q1-Q3 of 2023, the U.S. loan market was marked by novel deal patterns and uneven market activity. Initially, the bulk of deals were portfolio work, including amend & extend transactions, covenant relief amendments and LIBOR…more

Banking Sector, Borrowers, EBITDA, Lenders, Libor

See all updates »

Market Intersection: A Quarterly Look at the U.S. Credit Markets 3Q22

The U.S. loan market continued to cool in the third quarter, amid an uncertain economic outlook. Geopolitical risks, rising interest rates and a continued threat of recession have caused lenders to focus on credit quality as the…more

Bank Loan Markets, Capital Markets, Collateralized Loan Obligations, Direct Lending, EBITDA

See all updates »

Supreme Court Rules Pure Omissions Not Actionable under Rule 10b-5

On April 12, 2024, the U.S. Supreme Court issued its decision in Macquarie Infrastructure Corp. v. Moab Partners, L.P., No. 22-1165, 601 U.S. __ (Apr. 12, 2024), in which the Court held that pure omissions are not actionable…more

Disclosure Requirements, Failure To Disclose, Macquarie Infrastructure Corp v Moab Partners LP, Omissions, Rule 10(b)

See all updates »

New U.S. Outbound Investment Restrictions on High-Technology Sectors in China

On August 9, 2023, President Biden issued a long-awaited Executive Order establishing the legal authority for the U.S. Department of Treasury (“Treasury Department”) to institute an unprecedented regulatory regime restricting…more

Advanced Notice of Proposed Rulemaking (ANPRM), Artificial Intelligence, China, Executive Orders, Information Technology

See all updates »

Data Privacy and Cybersecurity New Laws and Regulations Report

Throughout 2022, we continue to see regulators placing an emphasis on the importance of protecting and securing information, in particular consumer personal information, at both the federal and state levels. …more

Breach Notification Rule, Cybersecurity, Data Privacy, Data Protection, Employee Training

See all updates »

Indiana Set to Become Seventh State to Enact Comprehensive Privacy Law

State legislatures continue to take privacy matters into their own hands while talks of a federal privacy law linger. Indiana is set to become the seventh state to enact a comprehensive privacy law when Senate Bill No. 5 is…more

Consumer Privacy Rights, Data Protection, GLBA Privacy, Governor Holcomb, Gramm-Leach-Blilely Act

See all updates »

Credit Funds: The Year of the Regulator

We are delighted to bring you this edition of Spotlight Magazine, the content of which has come at just the right time, with it becoming increasingly apparent that we are in the midst of a global regulatory refresh of the…more

Alternative Investment Fund Managers Directive (AIFMD), Alternative Investment Funds, Asset Management, Credit Funds, ELTIF

See all updates »

H1 2022 Energy and Infrastructure Round-up

Welcome to our H1 2022 Energy and Infrastructure Round-up. Here we share our assessment of key legal and transactional developments in the energy and infrastructure market including: •Market Activity- •Market Commentary-…more

BEIS, Divestiture, Energy Sector, Environmental Social & Governance (ESG), European Commission

See all updates »

Netherlands HCP Rate Caps: Key Updates

In early 2022, Dutch regulators deployed a new methodology for calculating the maximum hourly rates that life sciences companies may pay to healthcare professionals (“HCPs”) and others engaged in fee-for-service consulting…more

Fee-for-Service, Health Care Providers, Life Sciences, Medical Devices, Netherlands

See all updates »

Supreme Court Clarifies "Undue Hardship" In Religious Accommodation

On June 29, 2023, the Supreme Court decided Groff v. DeJoy in a unanimous ruling that clarifies the “undue hardship” standard under which an employer can deny a requested religious accommodation under Title VII of the Civil…more

Civil Rights Act, Coronavirus/COVID-19, De Minimus Doctrine, Employer Mandates, Equal Employment Opportunity Commission (EEOC)

See all updates »

AI Takes the Spotlight at the UN Forum on Business and Human Rights

At the United Nations Forum on Business and Human Rights (the “Forum”) held at the UN headquarters in Geneva, Switzerland this past week, some 4000 thought leaders, human rights defenders, companies, civil society organizations,…more

Artificial Intelligence, Human Rights, OECD, Trafficking, United Nations

See all updates »

CFPB: Fixing Something That’s Not Broken – But Setting Forth a Framework for Abusive Conduct

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) recently issued a proposed rule that would prohibit financial institutions from charging nonsufficient funds (“NSF”) fees on instantaneously declined transactions…more

Consumer Financial Products, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

See all updates »

New Sanctions on Russia Mark Two-Year Anniversary of Ukraine Invasion

On February 23, 2024, the Biden Administration announced new sanctions targeting a number of different sectors of the Russian economy, Russian government officials and financial institutions, entities suspected of sanctions…more

Biden Administration, Bureau of Industry and Security (BIS), Economic Sanctions, Export Administration Regulations (EAR), Office of Foreign Assets Control (OFAC)

See all updates »

Market Intersection: A Quarterly Look at the U.S. Credit Markets 1Q23

General market unease in the first fiscal quarter of 2023 was evident. The back-to-back collapse of two regional banks spooked investors and the effects of two federal rate increases rippled through the market. Uncertainty in…more

Banks, Bond Markets, Borrowers, Financial Institutions, Investment

See all updates »

EEOC Issues Final Regulation on Pregnant Workers Fairness Act

All employers should take note of the U.S. Equal Opportunity Commission’s (“EEOC”) final rule and interpretative guidance regarding the Pregnant Workers Fairness Act (“PWFA”), recently issued on April 19, 2024. Effective last…more

Americans with Disabilities Act (ADA), Equal Employment Opportunity Commission (EEOC), Pregnancy, Pregnant Workers Fairness Act, Reasonable Accommodation

See all updates »

New U.S. Semiconductor Technology Controls Impose Strict Burdens, and Sow Confusion

On October 7, 2022, the Commerce Department Bureau of Industry and Security (“BIS”) – the primary gatekeeper on U.S. export controls – unleashed two lengthy and highly complex sets of regulations, aimed squarely at stopping the…more

Bureau of Industry and Security (BIS), China, ECCNs, Entity List, Export Administration Regulations (EAR)

See all updates »

State of Electric Interconnection and Transmission Regulation: Staying Alert to Imminent Developments and Getting Involved - UPDATED April 16 2024

Update: Order No. 2023-A was published in the Federal Register on April 16, 2024. Compliance filings to Order Nos. 2023 and 2023-A are due on May 16, 2023 The electric industry is in the midst of a period of significant growth…more

Energy Sector, FERC, Interconnections, ISO/RTO, Large Generators

See all updates »

A Sea Change Looms as FDA Finalizes Its Controversial Regulation Asserting Jurisdiction Over LDTs

On April 29, 2024, after years of false starts trying to expand oversight of laboratory developed tests (“LDTs”) through administrative and legislative actions, FDA announced the much-anticipated—and highly controversial—final…more

Chevron Deference, CLIA, Clinical Laboratories, Federal Food Drug and Cosmetic Act (FFDCA), Food and Drug Administration (FDA)

See all updates »

What Employers Need to Know about the SCOTUS Affirmative Action Decision

Federal law governing affirmative action and non-discrimination in employment is unaffected by the Supreme Court’s highly publicized affirmative action decision published June 29, 2023. Still, the decision is sure to intensify…more

Affirmative Action, Civil Rights Act, College Admissions, Diversity, Employer Liability Issues

See all updates »

SEC Adopts Updates to Private Fund Reporting on Form PF

On May 3, 2023, the SEC approved amendments to Form PF reporting requirements for private fund managers. Most significantly, the updates introduce new event reporting obligations for SEC-registered private fund advisers, which…more

Broker-Dealer, Fund Managers, Investment Adviser, Private Equity, Private Funds

See all updates »

Updated FinCEN CTA Guidance Impacts Private Equity Funds

On January 12, 2024, FinCEN updated its interpretations of the Corporate Transparency Act (“CTA”) that potentially will have a significant impact on private equity firms. This alert provides an overview of the CTA and certain…more

Beneficial Owner, Corporate Transparency Act, Exemptions, Financial Crimes, FinCEN

See all updates »

The Missing Piece to California’s Regulatory Puzzle for Accelerating Renewable Energy Development?

California has long been a leader in the development of renewable energy and the transition to a carbon-free economy. The State recently demonstrated its continuing leadership with the enactment of a new law that may streamline…more

California, California Energy Commission, CEQA, Environmental Impact Report (EIR), Governor Newsom

See all updates »

Public Company Update: Corporate America Beware: Labor Unions, Social Activists, and Universal Proxy Cards

On November 21, 2023, a coalition of labor unions led by the Service Employees International Union (SEIU), announced that it has nominated three director candidates for election to the Board of Directors of Starbucks at the 2024…more

Activist, Board of Directors, Securities and Exchange Commission (SEC), SEIU, Shareholder Meetings

See all updates »

The Russia-Ukraine War: Establishing a Claims Compensation Process

Russia’s invasion of Ukraine has resulted in the United States, European Union, United Kingdom and numerous other jurisdictions implementing the most draconian economic sanctions ever imposed on a major economy. While those…more

Asset Freeze, Damages, Economic Sanctions, EU, Popular

See all updates »

OFAC Revokes General Authorization for Venezuelan Oil and Gas Sector But Permits Limited Wind-Down Transactions

Broad authorizations permitting dealings in Venezuela’s oil and gas sector came to an end on April 17, 2024, when the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) terminated General…more

Economic Sanctions, General Licenses, Office of Foreign Assets Control (OFAC), Oil & Gas, SDN List

See all updates »

California Supreme Court Clarifies Whether Employers Must Pay for Certain Pre-Shift Activities

In Huerta v. CSI Electrical Contractors, No. S275431 (March 25, 2024), the California Supreme Court issued an important decision relating to whether California employers must pay non-exempt employees for certain pre-shift…more

CA Supreme Court, Compensation, Corporate Counsel, Employer Liability Issues, Rest and Meal Break

See all updates »

SEC Wins Trial Involving First-Ever Shadow Trading Case

On April 5, 2024, a federal jury in the Northern District of California found defendant Matthew Panuwat liable for insider trading in the Securities and Exchange Commission’s (“SEC”) first-ever case involving the so-called…more

Breach of Duty, Confidential Information, Confidentiality Agreements, Duty of Trust, Financial Services Industry

See all updates »

H1 2022 Energy and Infrastructure Round-up

Welcome to our H1 2022 Energy and Infrastructure Round-up. Here we share our assessment of key legal and transactional developments in the energy and infrastructure market including: •Market Activity- •Market Commentary-…more

BEIS, Divestiture, Energy Sector, Environmental Social & Governance (ESG), European Commission

See all updates »

Pay Transparency Laws: Washington D.C. Is Next

On January 12, 2024, District of Columbia Mayor Muriel Bowser approved a new set of pay transparency requirements for D.C. employers that will take effect on June 30, 2024. The Pay Scale and Benefits Disclosure Amendment Act of…more

Disclosure Requirements, Job Ads, Notice Requirements, Pay Transparency, Wage and Hour

See all updates »

Credit Funds: Riding the Sea of Change

We are delighted to bring this edition of Spotlight Magazine to you after the disruption of the past two years and the COVID-19 pandemic. There has been a sea of regulatory change that has evolved during this time, masked by…more

Alternative Investment Fund Managers Directive (AIFMD), Anti-Money Laundering, Blacklist, Coronavirus/COVID-19, Corporate Governance

See all updates »

Sign on the Dotted Line: Compliance Certifications by CEOs and CCOs A Likely Requirement

As it continues its focus not just on enforcement, but on compliance, members of the U.S. Department of Justice have foreshadowed a sea change for Chief Executive Officers and Chief Compliance Officers in corporate resolutions:…more

Bribery, CEOs, Chief Compliance Officers, Compliance, Corporate Governance

See all updates »

EU Legislators Reach Provisional Agreement on Corporate Sustainability Due Diligence Directive

After months of discussion – and years of development – on December 14, 2023, the European Council and the Parliament reached a provisional agreement on the Corporate Sustainability Due Diligence Directive (“CSDDD”). The CSDDD…more

Corporate Governance, Corporate Social Responsibility, Due Diligence, Environmental Social & Governance (ESG), EU

See all updates »

More Clarity on the Horizon for FCPA Resolutions? DOJ and SEC Officials Discuss Enforcement Trends

On November 28–30, 2023, the American Conference Institute’s 40th International Conference on the Foreign Corrupt Practices Act (“FCPA”), held in Washington, D.C., brought together prosecutors, regulators, corporate compliance…more

Clawbacks, Compliance, Corruption, Deferred Prosecution Agreements, Department of Justice (DOJ)

See all updates »

Revisiting Shareholder Proposal Exclusions

On July 13, 2022, the Securities and Exchange Commission (the “SEC”) proposed amendments (the “Proposed Amendments”) to Rule 14a-8 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which would revise three…more

Comment Period, Exclusions, No-Action Requests, Proposed Amendments, Securities and Exchange Commission (SEC)

See all updates »

Human Rights Risks for Mining and Manufacturing: Lessons from Ten Years of the OECD Guidelines

In 2011, following the adoption of the United Nations Guiding Principles, the OECD Guidelines for Multinational Enterprises (the “Guidelines”)—the only existing intergovernmental guidance to businesses—introduced a new chapter…more

Bribery, Department of Industrial Relations, Extortion, Human Rights, Manufacturers

See all updates »

Key Takeaways from SEC Speaks 2024 Event

Last week, Paul Hastings attended the Securities and Exchange Commission (SEC) Speaks 2024 event presented by the Practising Law Institute (PLI) in cooperation with the SEC on April 1 and 2. The SEC Speaks program provides…more

Artificial Intelligence, Corporate Governance, Cyber Incident Reporting, Cyber Threats, Cybersecurity

See all updates »

A “special merger control regime” for Energy Network Enterprises

What has changed? The Energy Act 2023 introduces a new UK merger control regime under which all mergers between energy network companies active in the UK can be assessed for their impact on Ofgem’s ability to make comparisons…more

Energy Sector, Investment, Merger Controls, Ofgem, Regulatory Agenda

See all updates »

SuperValu and Executive Health Resources: What to Know About the FCA Following the 2023 Term

As we take stock of the Supreme Court’s 2023 term, two landmark decisions shift our understanding of scienter and government intervention as it relates to the False Claims Act (“FCA”), 31 U.S.C. § 3729. First, on June 1, 2023,…more

Department of Justice (DOJ), Drug Pricing, False Claims Act (FCA), Foreign Corrupt Practices Act (FCPA), Healthcare

See all updates »

New Decision Addresses Whether Transcription Error in Prior Art Supports Obviousness

More than 50 years ago, the Court of Customs and Patent Appeals (CCPA) in In re Yale, 434 F.2d 666 (C.C.P.A. 1970), held that where a prior art reference includes an obvious error of a typographical or similar nature that would…more

Appeals, Board of Patent Appeals, Inter Partes Review (IPR) Proceeding, Obviousness, Patent Trial and Appeal Board

See all updates »

OFAC Revokes General Authorization for Venezuelan Oil and Gas Sector But Permits Limited Wind-Down Transactions

Broad authorizations permitting dealings in Venezuela’s oil and gas sector came to an end on April 17, 2024, when the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) terminated General…more

Economic Sanctions, General Licenses, Office of Foreign Assets Control (OFAC), Oil & Gas, SDN List

See all updates »

NLRB Adopts Stricter Standard for Assessing Lawfulness of Workplace Rules

The National Labor Relations Board recently issued a decision that should prompt most companies with U.S. operations to review—and, in all likelihood, modify—their workplace rules that apply to their workforce, whether unionized…more

Employee Rights, Employer Liability Issues, Employment Policies, NLRA, NLRB

See all updates »

Reign Turns to Clouds—The Western District of Texas Fundamentally Changes Its Assignment Procedure for Patent Cases

On Monday, July 25, the Chief Judge for the Western District of Texas issued an order altering how patent cases are assigned in that District. The order implements a “random assignment” procedure that now prevents plaintiffs…more

Administrative Patent Judges, Assignments, Judges, Judicial Districts, Patent Litigation

See all updates »

Financing the Middleman: Traps for the Unwary When Financing an Intermediary Business

Lenders relying on a security interest in the accounts receivable of borrowers need to use caution when financing an intermediary business that could be subject to express or constructive trusts. If an intermediary business…more

Accounts Receivable, Bank Deposits, Beneficiaries, Borrowers, Constructive Trusts

See all updates »

SCOTUS Removes ‘Significant Harm’ Requirement for Title VII Transfer Suits

On April 17, 2024, the Supreme Court decided Muldrow v. St. Louis, No. 22‑193, holding that Title VII of the Civil Rights Act of 1964 prohibits discriminatory job transfers that cause “some harm” with respect to the terms,…more

Adverse Employment Action, Civil Rights Act, Employee Transfers, Employer Liability Issues, Employment Discrimination

See all updates »

A “special merger control regime” for Energy Network Enterprises

What has changed? The Energy Act 2023 introduces a new UK merger control regime under which all mergers between energy network companies active in the UK can be assessed for their impact on Ofgem’s ability to make comparisons…more

Energy Sector, Investment, Merger Controls, Ofgem, Regulatory Agenda

See all updates »

Public Company Update: D.C. District Court Rules Proxy Voting Advice Beyond The Scope Of Federal Proxy Rules

On February 23, 2024, the U.S. District Court for the District of Columbia ruled in favor of Institutional Shareholder Services Inc. on the party’s motions for summary judgment, ending a years long dispute over whether proxy…more

Institutional Shareholder Services (ISS), National Association of Manufacturers, Proxy Voting, Proxy Voting Guidelines, Securities and Exchange Commission (SEC)

See all updates »

CISA Proposes Sweeping Cybersecurity Incident Reporting for U.S. Companies

On March 27, 2024, the Cybersecurity & Infrastructure Security Agency (“CISA”) released proposed regulations requiring expansive new cybersecurity incident and ransomware payment reporting across sixteen “critical infrastructure…more

Critical Infrastructure Sectors, Cyber Attacks, Cyber Incident Reporting, Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA), Cybersecurity

See all updates »

NDCA’s New Whistleblower Pilot Program: A Unique Focus on Reporting Intellectual Property Theft

On March 18, 2024, Ismail Ramsey (“Ramsey”), the U.S. Attorney for the Northern District of California (“NDCA”), announced the launch of NDCA Whistleblower Pilot Program (the “Pilot Program”), a significant new policy that…more

Corporate Crimes, Corporate Misconduct, Department of Justice (DOJ), Intellectual Property Protection, National Security

See all updates »

Landlords in Germany Will Soon Have to Bear Part of the CO2 Costs for Heat Supply

On 25 May 2022, the German Federal Cabinet submitted a draft of the Carbon Dioxide Cost Sharing Act (Kohlendioxidkostenaufteilungsgesetz – CO2-KostAufG). This bill intends to regulate the sharing of costs for CO2 emissions…more

Carbon Taxes, Commercial Leases, Germany, Landlords, Levy

See all updates »

Whistleblower Protection in Europe: Where do we Stand?

The European Court of Human Rights (hereinafter referred to as “ECHR”) has just granted the status of whistleblower to a former employee of PwC, in Luxemburg, who was at the origin of public revelations on certain tax practices,…more

EU, European Commission, European Court of Human Rights, Member State, Whistleblowers

See all updates »

Clock is Ticking: 1-Year until DSCSA’s Enhanced Drug Distribution Security Requirements Take Effect

Ten years in the making, and full implementation is finally coming. In about a year—beginning on November 27, 2023—prescription drug manufacturers and their supply chain partners will be required to fully trace and verify…more

Drug Distribution, DSCSA, Food and Drug Administration (FDA), Manufacturers, Pharmaceutical Industry

See all updates »

DOJ Criminal Division Announces New Voluntary Self-Disclosure Pilot Program for Individuals

On April 22, 2024, the Acting Assistant Attorney General for the Department of Justice (“DOJ”) Criminal Division (“Acting AAG”) Nicole M. Argentieri offered commentary in a blog post regarding the Criminal Division’s newest…more

CEOs, CFTC, COOs, Corporate Crimes, Corporate Misconduct

See all updates »

New Emphasis on Human Rights and Human Rights Due Diligence in U.S. Export Controls

As the European Union has made continued progress toward implementing a holistic human rights legislative agenda, the United States, in the wake of the recent second Summit for Democracy, began to push its own set of human…more

China, Code of Conduct, Due Diligence, Export Administration Regulations (EAR), Export Controls

See all updates »

Pecuniary vs. Nonpecuniary Factors: Understanding the Potential Scope of Anti-ESG Restrictions in U.S. State Laws

Executive Summary and Overview- State anti-ESG lawmakers have enacted legislation aimed at restricting investors from considering ESG factors in their investment strategies and decisions by requiring state financial…more

Climate Change, Corporate Governance, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Environmental Social & Governance (ESG)

See all updates »

SEC Department of Examinations Issues Risk Alert on Marketing Rule Deficiencies

Last week, the Securities and Exchange Commission’s Division of Examinations (“DOE”) issued a Risk Alert (the “Alert”) entitled “Initial Observations Regarding Advisers Act Marketing Rule Compliance.” The Alert describes several…more

Compliance, Documentation, Investment Adviser, Marketing, Registered Investment Advisors

See all updates »

SEC Adopts Amendments to Share Repurchase Disclosure Requirements

On May 3, 2023, the U.S. Securities and Exchange Commission (the “SEC”) adopted new enhanced disclosure requirements for issuers’ repurchases of equity securities. The amendments require issuers to provide the following…more

Closed-End Funds, Directors, Disclosure Requirements, Foreign Private Issuers, Regulation S-K

See all updates »

Navigating Control Mechanisms in Startups

The question of control is pivotal for startups and their investors. Startup founders naturally desire influence over their company's direction, but when external investors enter the picture, the dynamics of control often…more

Capital Raising, Dual Class Share Structures, Early Stage Companies, Initial Public Offering (IPO), Investors

See all updates »

DOJ Criminal Division Announces New Voluntary Self-Disclosure Pilot Program for Individuals

On April 22, 2024, the Acting Assistant Attorney General for the Department of Justice (“DOJ”) Criminal Division (“Acting AAG”) Nicole M. Argentieri offered commentary in a blog post regarding the Criminal Division’s newest…more

CEOs, CFTC, COOs, Corporate Crimes, Corporate Misconduct

See all updates »

Loan Market Update: Q1-Q3 Recap, Trends & What’s Next

From Q1-Q3 of 2023, the U.S. loan market was marked by novel deal patterns and uneven market activity. Initially, the bulk of deals were portfolio work, including amend & extend transactions, covenant relief amendments and LIBOR…more

Banking Sector, Borrowers, EBITDA, Lenders, Libor

See all updates »

The DOJ’s New Pilot Program Promises to Pay Whistleblowers for Uncovering Corporate Crimes

On March 7, 2024, Deputy Attorney General (“DAG”) Lisa Monaco announced a new Department of Justice (“DOJ”) pilot program to pay whistleblower rewards (“the Program”) for individuals who report corporate misconduct. As the DAG…more

CFTC, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA), Money Laundering, Pilot Programs

See all updates »

CFPB: Fixing Something That’s Not Broken – But Setting Forth a Framework for Abusive Conduct

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) recently issued a proposed rule that would prohibit financial institutions from charging nonsufficient funds (“NSF”) fees on instantaneously declined transactions…more

Consumer Financial Products, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

See all updates »

SCOTUS Removes ‘Significant Harm’ Requirement for Title VII Transfer Suits

On April 17, 2024, the Supreme Court decided Muldrow v. St. Louis, No. 22‑193, holding that Title VII of the Civil Rights Act of 1964 prohibits discriminatory job transfers that cause “some harm” with respect to the terms,…more

Adverse Employment Action, Civil Rights Act, Employee Transfers, Employer Liability Issues, Employment Discrimination

See all updates »

SEC Updates for Private Funds: Private Fund Rule Litigation and Marketing Rule FAQ

Private fund sponsors should be aware of two recent SEC regulatory developments with respect to (1) the newly adopted private fund rules (Rule 211(h)(1)-2; Rule 211(h)(2)-3; Rule 211(h)(2)-1; Rule 211(h)(2)-2, and Rule 206(4)-10…more

Fund Sponsors, Investment Adviser, Investment Advisers Act of 1940, Marketing, Private Funds

See all updates »

Seven Things to Know About California’s New Crypto Licensing Bill

As the world’s fifth-largest economy, the state of California plays a critical role in technological innovation globally, including in the areas of blockchain and financial technology. However, until now, the California…more

Blockchain, California, Department of Financial Protection and Innovation (DFPI), Digital Assets, Financial Services Industry

See all updates »

FTC Announces Expansive and Unprecedented Non-compete Ban

On April 23, 2024, the Federal Trade Commission (FTC) adopted a Non‑Compete Clause Rule (the “Rule”) prohibiting most employee non‑compete agreements as unfair methods of competition by a vote of 3 to 2. The Rule is a somewhat…more

Apprenticeships, Chamber of Commerce, Federal Trade Commission (FTC), Independent Contractors, Internships

See all updates »

Get Ready California Employers! A Wave Of New Employment Laws Set To Kick In Next Year.

Another New Year means another flurry of new laws for California employers. Indeed, Governor Newsom had another busy October, signing over a dozen employee-friendly bills touching everything from cannabis use to workplace…more

California, Discrimination, Drug Testing, Fast-Food Industry, FEHA

See all updates »

Credit Funds: Riding the Sea of Change

We are delighted to bring this edition of Spotlight Magazine to you after the disruption of the past two years and the COVID-19 pandemic. There has been a sea of regulatory change that has evolved during this time, masked by…more

Alternative Investment Fund Managers Directive (AIFMD), Anti-Money Laundering, Blacklist, Coronavirus/COVID-19, Corporate Governance

See all updates »

Latest Draft Comprehensive Data Privacy Legislation is Released

Two key members of Congress unveiled the latest iteration of a proposed nationwide comprehensive privacy and data protection bill this past week. House Energy and Commerce Chair Cathy McMorris Rodgers (R-WA) and Senate Commerce,…more

California Consumer Privacy Act (CCPA), Consumer Privacy Rights, Data Brokers, Data Privacy, Enforcement

See all updates »

Direct Lenders Are Navigating Rough Seas

Direct lenders need to be strategic about higher default rates, according to partners William Brady, Kris Hansen, and Jennifer Yount- William Brady: Direct lenders are facing challenges on two fronts: they are under enormous…more

Borrowers, Carve Out Provisions, Direct Lending, Equity Financing, EU

See all updates »

New NVCA Model Legal Documents - Now With Recent Market Data

The National Venture Capital Association, or NVCA, an organization that represents and advocates on behalf of the venture capital community, recently published updated forms of two of its model legal documents. Since 2003, the…more

Investment, Investors, Stock Purchase Agreement, Term Sheets, Venture Capital

See all updates »

SEC Reporting Obligations Under Section 13 and Section 16 of the Exchange Act

This legal update summarizes (a) the reporting requirements under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are generally applicable to persons that own, or exercise investment…more

Beneficial Owner, Control Person, EDGAR, Investment Management, Investors

See all updates »

Exchanges Propose Listing Standards Related to Executive Compensation Clawback Rules

Last fall, the U.S. Securities and Exchange Commission (the “SEC”) adopted a comprehensive set of rules related to recovery of erroneously awarded incentive-based compensation (the “SEC clawback rules”). Included in the SEC…more

Clawbacks, Executive Compensation, Incentive Compensation, Nasdaq, Noncompliance

See all updates »

DOL Releases Final Regulation with Respect to ESG Investing

Over the last few years, the U.S. Department of Labor’s (the “DOL”) guidance and rulemaking with respect to considering environmental, social, and governance (“ESG”) factors in Employee Retirement Security Act of 1974, as…more

401k, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Environmental Social & Governance (ESG), Investment Management

See all updates »

Treasury and IRS Release Final Regulations on Direct Pay

The Inflation Reduction Act of 2022 added Section 6417 to the Internal Revenue Code of 1986, as amended (the “Code”). Under this new section, certain taxpayers may make an elective payment, which will treat certain eligible…more

Carbon Capture and Sequestration, Final Rules, Income Taxes, Inflation Reduction Act (IRA), Internal Revenue Code (IRC)

See all updates »

Recent Court Rulings Shape Strategies for Closed-End Funds in Shareholder Activism Context

Recent decisions from the U.S. Court of Appeals for the Second Circuit and the U.S. District Court for the Southern District of New York have brought attention to anti-takeover strategies employed by registered closed-end…more

Appellate Courts, Closed-End Funds, Investment Company Act of 1940, Investment Funds, Shareholder Activism

See all updates »

FTC Proposed Ban on Non-Competes Includes M&A Exception Comparable to California Law

On January 5, 2023, the Federal Trade Commission (“FTC”) announced a proposed regulation (the “Proposed Rule”) that would ban non-compete agreements imposed against workers by employers. The Proposed Rule includes a narrow…more

Employment Contract, Exceptions, Federal Trade Commission (FTC), Non-Compete Agreements, NPRM

See all updates »

NDCA’s New Whistleblower Pilot Program: A Unique Focus on Reporting Intellectual Property Theft

On March 18, 2024, Ismail Ramsey (“Ramsey”), the U.S. Attorney for the Northern District of California (“NDCA”), announced the launch of NDCA Whistleblower Pilot Program (the “Pilot Program”), a significant new policy that…more

Corporate Crimes, Corporate Misconduct, Department of Justice (DOJ), Intellectual Property Protection, National Security

See all updates »

SVB Receivership – Considerations for Agents and Lenders

Background- On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for SVB…more

Agents, Bank Deposits, Banks, Board of Governors, Borrowers

See all updates »

California Expands Employee Protections: A Dozen New Employment Laws Impacting Employers

California’s Legislature recently ended another busy session, sending a slew of new employee-friendly bills to Governor Gavin Newsom, who was not stingy with his pen…more

Bereavement Leave, California, California Family Rights Act (CFRA), California Privacy Rights Act (CPRA), Call Centers

See all updates »

Market Intersection: A Quarterly Look at the U.S. Credit Markets 1Q23

General market unease in the first fiscal quarter of 2023 was evident. The back-to-back collapse of two regional banks spooked investors and the effects of two federal rate increases rippled through the market. Uncertainty in…more

Banks, Bond Markets, Borrowers, Financial Institutions, Investment

See all updates »

Post-COVID Checkup: Current FDA Due Diligence Considerations

The COVID-19 pandemic highlighted both the incredible promise and challenges for life science companies developing and manufacturing drugs, biological products, and devices that enhance our lives…more

Biologics, Coronavirus/COVID-19, False Statements, Food and Drug Administration (FDA), Fraud

See all updates »

How to Factor in the New EU Foreign Subsidies Regulation in the Transactional Process. Paul Hastings’ FAQs and Toolbox

The recently enacted EU Foreign Subsidies Regulation (FSR) grants the European Commission investigative powers on foreign subsidies that may distort competition in the EU internal market. The FSR imposes suspensory filing…more

EU, European Commission, European Merger Control Regulation, Foreign Acquisitions, Foreign Direct Investment

See all updates »

Treasury and IRS Release Final Regulations on Direct Pay

The Inflation Reduction Act of 2022 added Section 6417 to the Internal Revenue Code of 1986, as amended (the “Code”). Under this new section, certain taxpayers may make an elective payment, which will treat certain eligible…more

Carbon Capture and Sequestration, Final Rules, Income Taxes, Inflation Reduction Act (IRA), Internal Revenue Code (IRC)

See all updates »

Credit Funds: Riding the Sea of Change

We are delighted to bring this edition of Spotlight Magazine to you after the disruption of the past two years and the COVID-19 pandemic. There has been a sea of regulatory change that has evolved during this time, masked by…more

Alternative Investment Fund Managers Directive (AIFMD), Anti-Money Laundering, Blacklist, Coronavirus/COVID-19, Corporate Governance

See all updates »

Federal Case Challenges Mass Arbitration “Shakedown” Amid Recent Amendments to AAA Rules

A recent complaint against plaintiffs’ firm Zimmerman Reed directly challenges the law firm’s mass arbitration tactics and alleged “weaponization” of a California privacy statute. The complaint comes as arbitration authorities…more

American Arbitration Association, Arbitration, Arbitration Agreements, Arbitration Fees, Federal Arbitration Act

See all updates »

New Sanctions on Russia Mark Two-Year Anniversary of Ukraine Invasion

On February 23, 2024, the Biden Administration announced new sanctions targeting a number of different sectors of the Russian economy, Russian government officials and financial institutions, entities suspected of sanctions…more

Biden Administration, Bureau of Industry and Security (BIS), Economic Sanctions, Export Administration Regulations (EAR), Office of Foreign Assets Control (OFAC)

See all updates »

California Supreme Court Clarifies Whether Employers Must Pay for Certain Pre-Shift Activities

In Huerta v. CSI Electrical Contractors, No. S275431 (March 25, 2024), the California Supreme Court issued an important decision relating to whether California employers must pay non-exempt employees for certain pre-shift…more

CA Supreme Court, Compensation, Corporate Counsel, Employer Liability Issues, Rest and Meal Break

See all updates »

What Employers Need to Know about the SCOTUS Affirmative Action Decision

Federal law governing affirmative action and non-discrimination in employment is unaffected by the Supreme Court’s highly publicized affirmative action decision published June 29, 2023. Still, the decision is sure to intensify…more

Affirmative Action, Civil Rights Act, College Admissions, Diversity, Employer Liability Issues

See all updates »

PH Arbitration Speedread: English Court Sets Aside Multibillion-Dollar Award Procured by Fraud

In a significant decision, on 23 October 2023 the English Commercial Court (Knowles J) set aside a US$11 billion arbitration award obtained by a BVI-incorporated company against the Federal Republic of Nigeria arising from a…more

Arbitration, Arbitration Awards, Bribery, Compliance, Corruption

See all updates »

California Supreme Court In Adolph v. Uber Has “Last Word” On PAGA Standing

The California Supreme Court’s long-awaited “last word” (for now) on statutory standing post-Viking River Cruises v. Moriana is here: a plaintiff compelled to arbitrate individual claims brought under the Private Attorneys…more

Arbitration Agreements, CA Supreme Court, Class Action, Labor Law Violations, Private Attorneys General Act (PAGA)

See all updates »

H1 2022 Energy and Infrastructure Round-up

Welcome to our H1 2022 Energy and Infrastructure Round-up. Here we share our assessment of key legal and transactional developments in the energy and infrastructure market including: •Market Activity- •Market Commentary-…more

BEIS, Divestiture, Energy Sector, Environmental Social & Governance (ESG), European Commission

See all updates »

OFAC Issues New General Licenses for Venezuela, Suspending Sanctions in Certain Sectors

On October 18, 2023 the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a set of new authorizations under the Venezuela sanctions regime, including a temporary suspension of…more

Economic Sanctions, General Licenses, Office of Foreign Assets Control (OFAC), Oil & Gas, Presidential Elections

See all updates »

Key implications of the European Commission Report on the EU Securitisation Regulation for European CLO managers and investors

A new European Commission report on the functioning of the EU Securitisation Regulation addresses key uncertainties in existing interpretations of the EU Securitisation Regulation in the European CLO market. Some of the European…more

Disclosure Requirements, Environmental Social & Governance (ESG), European Banking Authority (EBA), European Commission, European Securities and Markets Authority (ESMA)

See all updates »

State of Electric Interconnection and Transmission Regulation: Staying Alert to Imminent Developments and Getting Involved - UPDATED April 16 2024

Update: Order No. 2023-A was published in the Federal Register on April 16, 2024. Compliance filings to Order Nos. 2023 and 2023-A are due on May 16, 2023 The electric industry is in the midst of a period of significant growth…more

Energy Sector, FERC, Interconnections, ISO/RTO, Large Generators

See all updates »

DOJ OFAC BIS Joint Compliance Note and Enhanced Coordination Highlights Increased Enforcement Risk

On July 26, 2023, the U.S. Departments of Justice, Treasury, and Commerce issued a joint compliance note (“JCN”) regarding voluntary self-disclosure (“VSD”) policies that apply to potential violations of U.S. sanctions…more

Bureau of Industry and Security (BIS), Department of Justice (DOJ), Economic Sanctions, Enforcement Actions, Export Controls

See all updates »

DOJ Announces Pilot Program and Updated Guidance: Individual Accountability is a Top Priority

On March 3, 2023, Assistant Attorney General (“AAG”) Kenneth Polite, Jr. announced new guidance issued by the Department of Justice (“DOJ”) Criminal Division intended to encourage companies to implement compensation policies to…more

Clawbacks, Department of Justice (DOJ), Incentives, Individual Accountability, Pilot Programs

See all updates »

The Federal Circuit Addresses Equitable Remedies and Defenses Against Patent Owners For Their Misconduct Before the District Court and the PTO

The Federal Circuit’s decision in Luv N’ Care v. Laurain (April 12, 2024) addresses the legal standards for remedying egregious forms of deceptive conduct by patent owners through the equitable barring of relief and patent…more

Deceptive Intent, Inequitable Conduct, Infringement, Injunctions, Patent Infringement

See all updates »

Primary or Significant? The Impact of the Supreme Court’s Decision to Not Review Attorney-Client Privilege In Dual Purpose Communications

At some point in their careers, most in-house counsel will be asked about the application of the attorney-client privilege or work on matters in which they will have to become familiar and comfortable with the application of…more

Attorney-Client Privilege, Corporate Counsel, Criminal Investigations, Dual Purpose, Privileged Communication

See all updates »

CFPB: Fixing Something That’s Not Broken – But Setting Forth a Framework for Abusive Conduct

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) recently issued a proposed rule that would prohibit financial institutions from charging nonsufficient funds (“NSF”) fees on instantaneously declined transactions…more

Consumer Financial Products, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

See all updates »

State of Electric Interconnection and Transmission Regulation: Staying Alert to Imminent Developments and Getting Involved - UPDATED April 16 2024

Update: Order No. 2023-A was published in the Federal Register on April 16, 2024. Compliance filings to Order Nos. 2023 and 2023-A are due on May 16, 2023 The electric industry is in the midst of a period of significant growth…more

Energy Sector, FERC, Interconnections, ISO/RTO, Large Generators

See all updates »

Proactive Recommendations to Private Equity Sponsors During Debt Ceiling Uncertainty

Like most other enterprises that raise and spend capital, the federal government finances its spending in part through the issuance of debt. The federal debt limit is the maximum amount of money that the federal government is…more

Acquisition Agreements, Credit Ratings, Debt Ceiling, Debt Financing, Default

See all updates »

Brazil’s Accession to the OECD – This is where the serious things begin

In June 2022, Brazil hosted a set of meetings between Latin American and OECD countries, during which economic policies, education, and productivity matters were discussed…more

Anti-Bribery, Anti-Corruption, Brazil, Economic Development, Environmental Social & Governance (ESG)

See all updates »

Reign Turns to Clouds—The Western District of Texas Fundamentally Changes Its Assignment Procedure for Patent Cases

On Monday, July 25, the Chief Judge for the Western District of Texas issued an order altering how patent cases are assigned in that District. The order implements a “random assignment” procedure that now prevents plaintiffs…more

Administrative Patent Judges, Assignments, Judges, Judicial Districts, Patent Litigation

See all updates »

Proposed SEC Custody Rule Amendments Could Drive Structural Changes in the Digital Asset Industry

The U.S. Securities and Exchange Commission (“SEC”) recently proposed amendments to its so-called custody rule[1] under the Investment Advisers Act of 1940 (“Advisers Act”). The Proposed Rule seeks to expand the range of assets…more

Custody Rule, Digital Assets, Foreign Financial Institutions (FFI), Futures Commission Merchants (FCMs), Investment Advisers Act of 1940

See all updates »

U.S. Supreme Court Approves Foreign Plaintiff’s Use of Civil RICO in Connection with Enforcement of Foreign Arbitral Awards

On June 22, 2023, a 6-3 Opinion issued in Yegiazaryan v. Smagin, No. 22-381, the U.S. Supreme Court held that a plaintiff—whether located in the United States or abroad—may use the Racketeer Influenced and Corrupt Organizations…more

Foreign Arbitral Awards, Foreign Jurisdictions, International Arbitration, Racketeering, RICO

See all updates »

Dawning of a New Regulatory Era - the EU Digital Competition Revamp

“Digital regulation” is a legislative concept and trend which has grown exponentially in recent years and looks set to develop for many more years to come…more

Competition, Cybersecurity, Digital Marketplace, Digital Service Providers, Digital Services

See all updates »

SVB Receivership – Considerations for Agents and Lenders

Background- On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for SVB…more

Agents, Bank Deposits, Banks, Board of Governors, Borrowers

See all updates »

SFDR II – No root and branch reform, please - Stay Current March 2024

The Targeted Consultation Document on the Implementation of the Sustainable Finance Disclosures Regulation (“SFDR Consultation”) published on 14 September 2023 engendered an industry and media storm, with commentators referring…more

Corporate Governance, Disclosure Requirements, Environmental Social & Governance (ESG), SFDR, Sustainability

See all updates »

SEC Adopts Long-Awaited SPAC Rules

On January 24, 2024, nearly two years after the SEC initially proposed industry-chilling rules overhauling the treatment of special purpose acquisition companies (“SPACs”) in their IPOs and de-SPAC transactions, the SEC adopted…more

Conflicts of Interest, Corporate Counsel, Dilution, Final Rules, Financial Statements

See all updates »

CFPB Takes Steps to Supervise Digital Payments Apps

On November 7, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule that would allow it to exercise its supervisory authority over larger nonbanks offering digital consumer payment applications, such as…more

Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Cryptocurrency, Digital Platforms, EFTA

See all updates »

Amendments to ISDA MA's Notices Provision and Treatment of CSAs

The International Swaps and Derivatives Association, Inc. (“ISDA”) has published a form of amendments to the Notices provision and the alignment of treatment of English law and New York law governed Credit Support Annexes…more

Coronavirus/COVID-19, Credit Support Annex (CSA), Force Majeure Clause, ISDA, ISDA Master Agreement

See all updates »

OFAC Issues New General Licenses for Venezuela, Suspending Sanctions in Certain Sectors

On October 18, 2023 the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a set of new authorizations under the Venezuela sanctions regime, including a temporary suspension of…more

Economic Sanctions, General Licenses, Office of Foreign Assets Control (OFAC), Oil & Gas, Presidential Elections

See all updates »

Non-Compete Agreements Declared Unlawful By NLRB General Counsel

On May 30, 2023, the General Counsel of the National Labor Relations Board, Jennifer Abruzzo, issued GC Memorandum 23-08, asserting that non-compete agreements generally violate the National Labor Relations Act. Much like the…more

Federal Trade Commission (FTC), NLRA, NLRB, NLRB General Counsel, Non-Compete Agreements

See all updates »

CFPB: Fixing Something That’s Not Broken – But Setting Forth a Framework for Abusive Conduct

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) recently issued a proposed rule that would prohibit financial institutions from charging nonsufficient funds (“NSF”) fees on instantaneously declined transactions…more

Consumer Financial Products, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry

See all updates »

Investment Funds & Private Capital Market Insights: SEC Charges Nine Investment Advisers for Advertising Hypothetical Performance to the General Public Without Adopting Policies and Procedures

On September 11, 2023 the SEC announced settlements with nine registered investment advisers (the “Advisers”) for alleged violations of the Investment Advisers Act’s new marketing rule (Rule 206(4)-1, available here, the…more

Advertising, Censures, Enforcement Actions, Investment Adviser, Investment Advisers Act of 1940

See all updates »

California Supreme Court In Adolph v. Uber Has “Last Word” On PAGA Standing

The California Supreme Court’s long-awaited “last word” (for now) on statutory standing post-Viking River Cruises v. Moriana is here: a plaintiff compelled to arbitrate individual claims brought under the Private Attorneys…more

Arbitration Agreements, CA Supreme Court, Class Action, Labor Law Violations, Private Attorneys General Act (PAGA)

See all updates »

Treasury Issues Proposed Regulations on the Section 30D Clean Vehicle Tax Credit’s Foreign Entity of Concern Rules

The Inflation Reduction Act of 2022 brought about modifications to the clean vehicle tax credit available under Section 30D of the U.S. Internal Revenue Code of 1986, as amended (the “Code” and such credit, the “Clean Vehicle…more

Department of Energy (DOE), Foreign Entities, Foreign Governments, Inflation Reduction Act (IRA), Infrastructure Investment and Jobs Act (IIJA)

See all updates »

The Fixed/Floating Distinction: Either Fixing a Fixed Charge or Seeing that the Floating Charge Floats, Not in Between

A lender’s decision between taking a fixed charge and taking a floating charge requires it to weigh a multitude of pros and cons. A fixed charge ranks ahead of an earlier floating charge that has not crystallized when the fixed…more

Asset Management, Charging Orders, Collateral, Debt, Financial Institutions

See all updates »

Credit Funds: The Year of the Regulator

We are delighted to bring you this edition of Spotlight Magazine, the content of which has come at just the right time, with it becoming increasingly apparent that we are in the midst of a global regulatory refresh of the…more

Alternative Investment Fund Managers Directive (AIFMD), Alternative Investment Funds, Asset Management, Credit Funds, ELTIF

See all updates »

Recent Whistleblower Activity Increases Pressure on Internal Reporting and Investigation Mechanisms

On May 5, 2023, the Securities and Exchange Commission (“SEC”) granted its largest-ever whistleblower award of $279M to an individual, reportedly stemming from Ericsson’s $1.1B settlement to resolve claims that the…more

Department of Justice (DOJ), Dodd-Frank, Enforcement Actions, False Claims Act (FCA), Foreign Corrupt Practices Act (FCPA)

See all updates »

NLRB Elevates Union Authorization Cards Over Secret-Ballot Elections to Compel Employers to Recognize Unions

For more than 50 years, the National Labor Relations Board had held — with Supreme Court approval — that when a union claimed to represent an employer’s workforce, the employer could refuse to recognize the union, leaving the…more

Administrative Law Judge (ALJ), Cemex, Collective Bargaining, Employees, Labor Relations

See all updates »

Treasury and IRS Release Final Regulations on Direct Pay

The Inflation Reduction Act of 2022 added Section 6417 to the Internal Revenue Code of 1986, as amended (the “Code”). Under this new section, certain taxpayers may make an elective payment, which will treat certain eligible…more

Carbon Capture and Sequestration, Final Rules, Income Taxes, Inflation Reduction Act (IRA), Internal Revenue Code (IRC)

See all updates »

Safe Harbor in the Coming Enforcement Storm? DOJ Announces New M&A Policy to Encourage Compliance

On October 4, 2023, Deputy Attorney General Lisa Monaco (the “DAG”) announced a new Mergers & Acquisitions (“M&A”) Safe Harbor Policy issued by the Department of Justice (“DOJ”) as part of her comments detailing increased…more

Anti-Corruption, Antitrust Division, Compliance, Corporate Governance, Corporate Misconduct

See all updates »

The Fixed/Floating Distinction: Either Fixing a Fixed Charge or Seeing that the Floating Charge Floats, Not in Between

A lender’s decision between taking a fixed charge and taking a floating charge requires it to weigh a multitude of pros and cons. A fixed charge ranks ahead of an earlier floating charge that has not crystallized when the fixed…more

Asset Management, Charging Orders, Collateral, Debt, Financial Institutions

See all updates »

HKIAC as First and Only outside Mainland China: Named by China International Commercial Court on One-Stop Platform for Diversified International Commercial Dispute Resolution

Starting from June 22, 2022, parties to international commercial arbitrations administered by the Hong Kong International Arbitration Centre (“HKIAC”) can apply directly to the China International Commercial Court (“CICC”) for…more

Arbitration, Arbitration Awards, China, Hong Kong International Arbitration Centre (HKIAC), International Arbitration

See all updates »

Brazil’s Accession to the OECD – This is where the serious things begin

In June 2022, Brazil hosted a set of meetings between Latin American and OECD countries, during which economic policies, education, and productivity matters were discussed…more

Anti-Bribery, Anti-Corruption, Brazil, Economic Development, Environmental Social & Governance (ESG)

See all updates »

From General Discretion to Agency Authority? FDA’s Bold Bid to Regulate Laboratory Developed Tests

After years of FDA discussion and failed congressional efforts to assert greater oversight of laboratory developed tests (LDTs), FDA has proposed a rule that would require many LDTs to comply with FDA’s requirements for in vitro…more

CLIA, Clinical Laboratories, Diagnostic Tests, Food and Drug Administration (FDA), Laboratory Developed Tests

See all updates »

An Eye on Insurance: Recent Developments in Insurance Regulation

The last months of 2023 capped off another major year for insurance regulation, with state insurance regulators and the National Association of Insurance Commissioners undertaking a number of initiatives that will affect the use…more

Algorithms, Artificial Intelligence, Colorado, Cybersecurity Framework, Data Protection

See all updates »

The CFTC Announces New Enforcement Advisory – Penalties, Monitors, and Admissions

On October 17, 2023, the Commodity Futures Trading Commission’s (“CFTC” or “Commission”) Division of Enforcement (“DOE”) released its latest enforcement advisory, providing guidance to CFTC staff on resolution of an enforcement…more

Aggravating Factors, CFTC, Civil Monetary Penalty, Department of Justice (DOJ), Enforcement Actions

See all updates »

The Fixed/Floating Distinction: Either Fixing a Fixed Charge or Seeing that the Floating Charge Floats, Not in Between

A lender’s decision between taking a fixed charge and taking a floating charge requires it to weigh a multitude of pros and cons. A fixed charge ranks ahead of an earlier floating charge that has not crystallized when the fixed…more

Asset Management, Charging Orders, Collateral, Debt, Financial Institutions

See all updates »

Delaware Court Imposes Price Bump Damages for Revlon Sales Process and Disclosure Violations

On March 15, 2023, Chancellor McCormick of the Court of Chancery in Delaware issued a post-trial opinion in a stockholder class action imposing liability upon a founder and CEO (“CEO”) for breaching Revlon sales process duties…more

Aiding and Abetting, CEOs, Change of Control, Class Action, Duty of Care

See all updates »

Market Intersection: A Quarterly Look at the U.S. Credit Markets 1Q23

General market unease in the first fiscal quarter of 2023 was evident. The back-to-back collapse of two regional banks spooked investors and the effects of two federal rate increases rippled through the market. Uncertainty in…more

Banks, Bond Markets, Borrowers, Financial Institutions, Investment

See all updates »

Sign on the Dotted Line: Compliance Certifications by CEOs and CCOs A Likely Requirement

As it continues its focus not just on enforcement, but on compliance, members of the U.S. Department of Justice have foreshadowed a sea change for Chief Executive Officers and Chief Compliance Officers in corporate resolutions:…more

Bribery, CEOs, Chief Compliance Officers, Compliance, Corporate Governance

See all updates »

The CFTC Announces New Enforcement Advisory – Penalties, Monitors, and Admissions

On October 17, 2023, the Commodity Futures Trading Commission’s (“CFTC” or “Commission”) Division of Enforcement (“DOE”) released its latest enforcement advisory, providing guidance to CFTC staff on resolution of an enforcement…more

Aggravating Factors, CFTC, Civil Monetary Penalty, Department of Justice (DOJ), Enforcement Actions

See all updates »

The DOJ’s New Pilot Program Promises to Pay Whistleblowers for Uncovering Corporate Crimes

On March 7, 2024, Deputy Attorney General (“DAG”) Lisa Monaco announced a new Department of Justice (“DOJ”) pilot program to pay whistleblower rewards (“the Program”) for individuals who report corporate misconduct. As the DAG…more

CFTC, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA), Money Laundering, Pilot Programs

See all updates »

Supreme Court Clarifies "Undue Hardship" In Religious Accommodation

On June 29, 2023, the Supreme Court decided Groff v. DeJoy in a unanimous ruling that clarifies the “undue hardship” standard under which an employer can deny a requested religious accommodation under Title VII of the Civil…more

Civil Rights Act, Coronavirus/COVID-19, De Minimus Doctrine, Employer Mandates, Equal Employment Opportunity Commission (EEOC)

See all updates »

CFPB Takes Steps to Supervise Digital Payments Apps

On November 7, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule that would allow it to exercise its supervisory authority over larger nonbanks offering digital consumer payment applications, such as…more

Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Cryptocurrency, Digital Platforms, EFTA

See all updates »

FinCEN Proposes AML and SAR Filing Obligations for RIAs and ERAs

On February 13, 2024, the United States Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a proposed rule that would apply comprehensive anti-money laundering and countering the financing of terrorism (“AML/CFT”)…more

AML/CFT, Anti-Money Laundering, Bank Holding Company, Bank Secrecy Act, Broker-Dealer

See all updates »

Developments in Employee Mobility: California’s SB 699, New York’s 203-f and FTC/DOL Collaboration

Employers take note: a series of recent developments could impact employment agreements across the country. SB 699: A New Addition to California Non-Compete Law- Under California Business and Professions Code Section…more

Assignment of Inventions, California, Collaboration, Department of Labor (DOL), Employer Liability Issues

See all updates »

Federal Energy Regulatory Commission Issues Final Rule Overhauling Interconnection Procedures

On July 28, 2023, in its first major overhaul of its standardized interconnection rules, procedures, and agreements since issuing Order No. 2003 20 years ago, the Federal Energy Regulatory Commission (Commission or FERC) issued…more

Electric Generation Suppliers, Energy Sector, FERC, Interconnections, Notice of Proposed Rulemaking (NOPR)

See all updates »

A Move Towards Unregulated Growth - Infrastructure

Decarbonisation and digitisation: two of the key trends we heard a lot about in 2023 and we see no signs of that abating in 2024. Hand in hand with this, one of the ongoing themes for sponsors in the infra space is: how should…more

Emerging Growth Companies, Energy Sector, Infrastructure, Investment, Investors

See all updates »

Safe Harbor in the Coming Enforcement Storm? DOJ Announces New M&A Policy to Encourage Compliance

On October 4, 2023, Deputy Attorney General Lisa Monaco (the “DAG”) announced a new Mergers & Acquisitions (“M&A”) Safe Harbor Policy issued by the Department of Justice (“DOJ”) as part of her comments detailing increased…more

Anti-Corruption, Antitrust Division, Compliance, Corporate Governance, Corporate Misconduct

See all updates »

Proactive Recommendations to Private Equity Sponsors During Debt Ceiling Uncertainty

Like most other enterprises that raise and spend capital, the federal government finances its spending in part through the issuance of debt. The federal debt limit is the maximum amount of money that the federal government is…more

Acquisition Agreements, Credit Ratings, Debt Ceiling, Debt Financing, Default

See all updates »

FTC Announces Publication Date for Expansive and Unprecedented Non-compete Ban

As stated in original Client Alert, on April 23, 2024, the Federal Trade Commission (FTC) adopted a Non‑Compete Clause Rule (the “Rule”) prohibiting most employee non-compete agreements as unfair methods of competition. The FTC…more

Chamber of Commerce, Federal Register, Federal Trade Commission (FTC), Final Rules, Non-Compete Agreements

See all updates »

NYDFS Releases Major Update to Part 500 Cybersecurity Requirements for Financial Services Companies

The New York Department of Financial Services (NYDFS) adopted a long-expected amendment to its Part 500 Cybersecurity Regulations (Part 500) this week. These are the first significant changes to Part 500 since its inception in…more

Amended Regulation, Chief Information Security Officer (CISO), Cybersecurity, Data Protection, Financial Institutions

See all updates »

[Webinar] Expanded Pay Transparency and Reporting Laws Nationwide: What Your Company Needs To Know - October 27th, 10:00 am - 11:00 am PDT

California, New York City, Colorado, and Washington state recently have expanded or changed pay transparency and reporting laws, providing employees and applicants with greater access to pay data, and posing more risk for…more

Employer Liability Issues, Hiring & Firing, Job Applicants, Pay Data, Pay Transparency

See all updates »

No Longer a ‘Nice to Have’: ESG and What it Means for Life Sciences Companies

In April 2022, the U.K. Health Secretary, Sajid Javid, announced plans to prohibit the United Kingdom’s National Health Service (“NHS”) from buying goods and services connected with forced labour or human trafficking. This came…more

Artificial Intelligence, Climate Change, Coronavirus/COVID-19, Environmental Social & Governance (ESG), EU

See all updates »

SFDR II – No root and branch reform, please - Stay Current March 2024

The Targeted Consultation Document on the Implementation of the Sustainable Finance Disclosures Regulation (“SFDR Consultation”) published on 14 September 2023 engendered an industry and media storm, with commentators referring…more

Corporate Governance, Disclosure Requirements, Environmental Social & Governance (ESG), SFDR, Sustainability

See all updates »

New Decision Addresses Whether Transcription Error in Prior Art Supports Obviousness

More than 50 years ago, the Court of Customs and Patent Appeals (CCPA) in In re Yale, 434 F.2d 666 (C.C.P.A. 1970), held that where a prior art reference includes an obvious error of a typographical or similar nature that would…more

Appeals, Board of Patent Appeals, Inter Partes Review (IPR) Proceeding, Obviousness, Patent Trial and Appeal Board

See all updates »

Key implications of the European Commission Report on the EU Securitisation Regulation for European CLO managers and investors

A new European Commission report on the functioning of the EU Securitisation Regulation addresses key uncertainties in existing interpretations of the EU Securitisation Regulation in the European CLO market. Some of the European…more

Disclosure Requirements, Environmental Social & Governance (ESG), European Banking Authority (EBA), European Commission, European Securities and Markets Authority (ESMA)

See all updates »

Financial Sanctions—Ten Key Due Diligence Principles

This Note is the second part of our look at regulatory expectations for sanctions compliance in the U.K. The first part of our review looked at Financial Conduct Authority (“FCA”) systems and controls requirements. The focus of…more

Due Diligence, Economic Sanctions, Financial Conduct Authority (FCA), Financial Crimes, Fund Transfers

See all updates »

NDCA’s New Whistleblower Pilot Program: A Unique Focus on Reporting Intellectual Property Theft

On March 18, 2024, Ismail Ramsey (“Ramsey”), the U.S. Attorney for the Northern District of California (“NDCA”), announced the launch of NDCA Whistleblower Pilot Program (the “Pilot Program”), a significant new policy that…more

Corporate Crimes, Corporate Misconduct, Department of Justice (DOJ), Intellectual Property Protection, National Security

See all updates »

Recent Whistleblower Activity Increases Pressure on Internal Reporting and Investigation Mechanisms

On May 5, 2023, the Securities and Exchange Commission (“SEC”) granted its largest-ever whistleblower award of $279M to an individual, reportedly stemming from Ericsson’s $1.1B settlement to resolve claims that the…more

Department of Justice (DOJ), Dodd-Frank, Enforcement Actions, False Claims Act (FCA), Foreign Corrupt Practices Act (FCPA)

See all updates »

Kraken Consents to SEC Injunction and Ceases Marketing its Staking-as-a-Service Program

In a headline-grabbing action, the Securities and Exchange Commission (“SEC”) announced on February 9 that it had instituted and settled an enforcement action against Kraken, a large crypto trading platform, in which it alleged…more

Cryptocurrency, Digital Assets, Enforcement Actions, Howey, Popular

See all updates »

DOL Releases Final Regulation with Respect to ESG Investing

Over the last few years, the U.S. Department of Labor’s (the “DOL”) guidance and rulemaking with respect to considering environmental, social, and governance (“ESG”) factors in Employee Retirement Security Act of 1974, as…more

401k, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Environmental Social & Governance (ESG), Investment Management

See all updates »

New Pay Transparency Law: Maryland Follows Growing Trend

On April 25, 2024, Maryland Governor Wes Moore signed into law a new set of pay transparency requirements for all Maryland employers that will take effect on October 1, 2024. The Wage Range Transparency Act imposes new…more

Equal Pay, Job Ads, Maryland, Pay Transparency, Popular

See all updates »

FTC and DOJ Solidify Expanded Merger Enforcement in Finalized Merger Guidelines

On December 18, 2023, the Federal Trade Commission (“FTC”) and the Department of Justice Antitrust Division (“DOJ”) released final revisions to the Merger Guidelines (the “2023 Merger Guidelines”) that frame the agencies’…more

Anticompetitive Behavior, Department of Justice (DOJ), European Commission, Federal Trade Commission (FTC), Hart-Scott-Rodino Act

See all updates »

Pecuniary vs. Nonpecuniary Factors: Understanding the Potential Scope of Anti-ESG Restrictions in U.S. State Laws

Executive Summary and Overview- State anti-ESG lawmakers have enacted legislation aimed at restricting investors from considering ESG factors in their investment strategies and decisions by requiring state financial…more

Climate Change, Corporate Governance, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Environmental Social & Governance (ESG)

See all updates »

Seven Things to Know About California’s New Crypto Licensing Bill

As the world’s fifth-largest economy, the state of California plays a critical role in technological innovation globally, including in the areas of blockchain and financial technology. However, until now, the California…more

Blockchain, California, Department of Financial Protection and Innovation (DFPI), Digital Assets, Financial Services Industry

See all updates »

SEC Issues Updated FAQ on Marketing Rule

Recently published guidance by the SEC staff from the Division of Investment Management (the “Staff”) is likely to have a significant impact on marketing materials prepared by investment advisers marketing new private funds. The…more

Division of Investment Management, Investment Adviser, Investment Funds, Management Fees, Marketing

See all updates »

FTC Proposes Ban on Non-Competes: What Employers Need to Know

On January 5, 2023, the Federal Trade Commission (“FTC”) announced a proposed regulation that would ban non-compete agreements between workers and employers, with some limited exceptions (the “Proposed Rule”). The Proposed Rule…more

Employment Contract, Executive Orders, Federal Trade Commission (FTC), FTC Act, Joe Biden

See all updates »

New Treasury Guidance on Sovereign Wealth Funds, Qualified Foreign Pension Funds, and REITS and RICs

On December 28, 2022, the Treasury Department and the IRS issued proposed regulations (the “Proposed Regulations”) on the treatment of qualified foreign pension funds (“QFPFs”) for purposes of the exemption from taxation for…more

C-Corporation, FIRPTA, Foreign Governments, Internal Revenue Code (IRC), Investors

See all updates »

Regulatory Developments in the Mexican Power Sector—Chapter 6: The Mexican Supreme Court Takes Decisive Action: A New Hope?!

In prior chapters of this series of my authorship regarding regulatory developments in the Mexican power sector during 2020 and 2021, we examined various actions taken by the administration of President Andrés Manuel López…more

Clean Energy, Competition, Energy Market, Exports, Power Purchase Agreements

See all updates »

Financial Sanctions—Ten Key Due Diligence Principles

This Note is the second part of our look at regulatory expectations for sanctions compliance in the U.K. The first part of our review looked at Financial Conduct Authority (“FCA”) systems and controls requirements. The focus of…more

Due Diligence, Economic Sanctions, Financial Conduct Authority (FCA), Financial Crimes, Fund Transfers

See all updates »

New OIG Developments Provide Additional Avenues for Feedback and Compliance Guidance

In recent months, the Department of Health and Human Services, Office of Inspector General (“OIG” or “the agency”) announced two major developments in its effort to provide enhanced health care and life sciences industry…more

Anti-Kickback Statute, Civil Monetary Penalty, Department of Health and Human Services (HHS), Department of Justice (DOJ), Healthcare Fraud

See all updates »

The Federal Circuit Addresses Equitable Remedies and Defenses Against Patent Owners For Their Misconduct Before the District Court and the PTO

The Federal Circuit’s decision in Luv N’ Care v. Laurain (April 12, 2024) addresses the legal standards for remedying egregious forms of deceptive conduct by patent owners through the equitable barring of relief and patent…more

Deceptive Intent, Inequitable Conduct, Infringement, Injunctions, Patent Infringement

See all updates »

Key implications of the European Commission Report on the EU Securitisation Regulation for European CLO managers and investors

A new European Commission report on the functioning of the EU Securitisation Regulation addresses key uncertainties in existing interpretations of the EU Securitisation Regulation in the European CLO market. Some of the European…more

Disclosure Requirements, Environmental Social & Governance (ESG), European Banking Authority (EBA), European Commission, European Securities and Markets Authority (ESMA)

See all updates »

Good Governance and The Future Scope of Human Rights Due Diligence

As we transition into an era of human rights due diligence mandated by regulation, many in the business and human rights community are nervously asking the same question. Will a company’s steps to identify and address actual and…more

Corruption, Due Diligence, EU, European Commission, European Parliament

See all updates »

Finance in Five Minutes: Healthcare Finance Checkup

While mergers and acquisitions, and attendant financings may not be at a blistering pace globally, the prognosis for deal activity in the healthcare sector remains healthy, in particular as the consolidation of providers, the…more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Department of Justice (DOJ), Federal Trade Commission (FTC), Food and Drug Administration (FDA)

See all updates »

How to Factor in the New EU Foreign Subsidies Regulation in the Transactional Process. Paul Hastings’ FAQs and Toolbox

The recently enacted EU Foreign Subsidies Regulation (FSR) grants the European Commission investigative powers on foreign subsidies that may distort competition in the EU internal market. The FSR imposes suspensory filing…more

EU, European Commission, European Merger Control Regulation, Foreign Acquisitions, Foreign Direct Investment

See all updates »

Clock is Ticking: 1-Year until DSCSA’s Enhanced Drug Distribution Security Requirements Take Effect

Ten years in the making, and full implementation is finally coming. In about a year—beginning on November 27, 2023—prescription drug manufacturers and their supply chain partners will be required to fully trace and verify…more

Drug Distribution, DSCSA, Food and Drug Administration (FDA), Manufacturers, Pharmaceutical Industry

See all updates »

Investment Funds & Private Capital Market Insights: SEC’s Final Amendments to Fund “Names Rule” and Procedures

On September 20, 2023, the Securities and Exchange Commission (the “SEC”) adopted amendments to Rule 35d-1 (the “Names Rule”) under the Investment Company Act of 1940, as amended, which is intended to prohibit the use of fund…more

Disclosure Requirements, Environmental Social & Governance (ESG), Investment Adviser, Investment Company Act of 1940, Recordkeeping Requirements

See all updates »

Federal Case Challenges Mass Arbitration “Shakedown” Amid Recent Amendments to AAA Rules

A recent complaint against plaintiffs’ firm Zimmerman Reed directly challenges the law firm’s mass arbitration tactics and alleged “weaponization” of a California privacy statute. The complaint comes as arbitration authorities…more

American Arbitration Association, Arbitration, Arbitration Agreements, Arbitration Fees, Federal Arbitration Act

See all updates »

European Sanctions: A Renewed Strength on Confiscation of Assets and the Fight against Sanctions Evasion

Since last February, Russia’s invasion of Ukraine has led to a series of restrictive measures against Russian and Belarusian individuals and companies, as well as sectoral measures some of which date back to 2014. The…more

Asset Recovery, Belarus, Economic Sanctions, EU, European Commission

See all updates »

NYC Employers Required to Post and Provide the City’s Workers’ Bill of Rights

In December 2023, New York City’s Mayor signed into law a new section of the New York City Administrative Code (Local Law 161, §32-102) that requires the Department of Consumer and Worker Protection (DCWP), in conjunction with…more

City of New York, Employee Rights, Local Ordinance, Posting Requirements

See all updates »

New Draft Antitrust Merger Guidelines Seek to Turn Screws on Merging Parties

The Department of Justice Antitrust Division and Federal Trade Commission issued new draft Merger Guidelines on July 19 that aim to significantly increase scrutiny of merger activity. The new Merger Guidelines would replace…more

Anti-Competitive, Antitrust Provisions, Department of Justice (DOJ), Draft Guidance, Federal Trade Commission (FTC)

See all updates »

Biden Administration Issues Executive Order and Announces Notice of Proposed Rulemaking Restricting “Countries of Concern” from Accessing Certain U.S. Bulk Sensitive Personal Data and U.S. Government-Related Data

On February 28, 2024, the Biden Administration issued a new “Executive Order on Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern” (the “EO”). The U.S…more

Biden Administration, CFIUS, Data Protection, Department of Justice (DOJ), Executive Orders

See all updates »

Right to Reproductive Health Care Privacy

HHS announced modifications last week to the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”) Privacy Rule, that will strengthen privacy protections for reproductive health care information. The Final Rule,…more

Abortion, Biden Administration, Department of Health and Human Services (HHS), Dobbs v. Jackson Women’s Health Organization, Employer Liability Issues

See all updates »

New Hampshire Privacy Law Signed By Governor

Earlier this month, Governor Chris Sununu of New Hampshire signed SB255, “An Act Relative to the Expectation of Privacy”, into law. The latest comprehensive state privacy law—bringing the total to 14 now—will go into effect…more

Consumer Privacy Rights, Data Privacy, Governor Sununu, Gramm-Leach-Blilely Act, New Legislation

See all updates »

With Japan's Ratification, the Singapore Mediation Convention Gains International Momentum

On October 1, 2023, Japan became the twelfth nation to ratify the United Nations Convention on International Settlement Agreements Resulting from Mediation (the “Singapore Convention”). Pursuant to Japanese domestic legislation,…more

International Arbitration, International Litigation, Japan, Mediation, Ratification

See all updates »

New Treasury Guidance on Sovereign Wealth Funds, Qualified Foreign Pension Funds, and REITS and RICs

On December 28, 2022, the Treasury Department and the IRS issued proposed regulations (the “Proposed Regulations”) on the treatment of qualified foreign pension funds (“QFPFs”) for purposes of the exemption from taxation for…more

C-Corporation, FIRPTA, Foreign Governments, Internal Revenue Code (IRC), Investors

See all updates »

Dawning of a New Regulatory Era - the EU Digital Competition Revamp

“Digital regulation” is a legislative concept and trend which has grown exponentially in recent years and looks set to develop for many more years to come…more

Competition, Cybersecurity, Digital Marketplace, Digital Service Providers, Digital Services

See all updates »

SEC Enforcement Continues Thematic Focus on Hypothetical Performance

The SEC charged five more registered investment advisers with violating the Investment Advisers Act’s Marketing Rule by advertising hypothetical performance on their websites without adopting appropriate policies and procedures,…more

Enforcement Actions, Financial Adviser, Investment Adviser, Marketing, Registered Investment Advisors

See all updates »

FTC Announces Publication Date for Expansive and Unprecedented Non-compete Ban

As stated in original Client Alert, on April 23, 2024, the Federal Trade Commission (FTC) adopted a Non‑Compete Clause Rule (the “Rule”) prohibiting most employee non-compete agreements as unfair methods of competition. The FTC…more

Chamber of Commerce, Federal Register, Federal Trade Commission (FTC), Final Rules, Non-Compete Agreements

See all updates »

Biometrics Litigation Update: Washington Is Poised to Become a New Frontier for Private Litigants

In just a few short weeks, a new front may emerge for biometrics litigation in the United States. On March 31, 2024, the My Health My Data Act (“MHMDA”) will go into effect in Washington for most entities that conduct business…more

Biometric Information, Consent, Consumer Protection Laws, Data Collection, Data Privacy

See all updates »

New California Law Imposes Anti-Greenwashing Disclosure Requirements Starting January 2024

While California’s Climate Accountability Package has received much recent attention, another California climate disclosure bill targeting corporate greenwashing was also signed into law on October 7, 2023, and its obligations…more

California, Carbon Emissions, Disclosure Requirements, Due Diligence, Green Guides

See all updates »

Credit Funds: Riding the Sea of Change

We are delighted to bring this edition of Spotlight Magazine to you after the disruption of the past two years and the COVID-19 pandemic. There has been a sea of regulatory change that has evolved during this time, masked by…more

Alternative Investment Fund Managers Directive (AIFMD), Anti-Money Laundering, Blacklist, Coronavirus/COVID-19, Corporate Governance

See all updates »

Proactive Recommendations to Private Equity Sponsors During Debt Ceiling Uncertainty

Like most other enterprises that raise and spend capital, the federal government finances its spending in part through the issuance of debt. The federal debt limit is the maximum amount of money that the federal government is…more

Acquisition Agreements, Credit Ratings, Debt Ceiling, Debt Financing, Default

See all updates »

Delaware Supreme Court Rejects “Reasonableness” Test for Forfeiture-for- Competition Provisions

Last week, the Delaware Supreme Court reversed a Chancery Court decision that we wrote about previously, which invalidated a forfeiture-for-competition provision as an unreasonable restraint of trade. The Ainslie et al. v…more

Breach of Contract, Competition, Contract Terms, DE Supreme Court, Forfeiture

See all updates »

Safe Harbor in the Coming Enforcement Storm? DOJ Announces New M&A Policy to Encourage Compliance

On October 4, 2023, Deputy Attorney General Lisa Monaco (the “DAG”) announced a new Mergers & Acquisitions (“M&A”) Safe Harbor Policy issued by the Department of Justice (“DOJ”) as part of her comments detailing increased…more

Anti-Corruption, Antitrust Division, Compliance, Corporate Governance, Corporate Misconduct

See all updates »

Landlords in Germany Will Soon Have to Bear Part of the CO2 Costs for Heat Supply

On 25 May 2022, the German Federal Cabinet submitted a draft of the Carbon Dioxide Cost Sharing Act (Kohlendioxidkostenaufteilungsgesetz – CO2-KostAufG). This bill intends to regulate the sharing of costs for CO2 emissions…more

Carbon Taxes, Commercial Leases, Germany, Landlords, Levy

See all updates »

Top PHive Crypto Enforcement Notes: January Edition

Happy New Year! While the holidays hopefully provided a chance to rest and recharge, things have not slowed down in the world of digital asset enforcement. We see a growing dedication of resources by government law enforcement…more

Bank Secrecy Act, CFTC, Cryptocurrency, Decentralized Autonomous Organization (DAO), Decentralized Finance (DeFi)

See all updates »

SEC Department of Examinations Issues Risk Alert on Marketing Rule Deficiencies

Last week, the Securities and Exchange Commission’s Division of Examinations (“DOE”) issued a Risk Alert (the “Alert”) entitled “Initial Observations Regarding Advisers Act Marketing Rule Compliance.” The Alert describes several…more

Compliance, Documentation, Investment Adviser, Marketing, Registered Investment Advisors

See all updates »

No Longer a ‘Nice to Have’: ESG and What it Means for Life Sciences Companies

In April 2022, the U.K. Health Secretary, Sajid Javid, announced plans to prohibit the United Kingdom’s National Health Service (“NHS”) from buying goods and services connected with forced labour or human trafficking. This came…more

Artificial Intelligence, Climate Change, Coronavirus/COVID-19, Environmental Social & Governance (ESG), EU

See all updates »

4 Things to Know About Crypto Legislation As Congress Comes Back In Session This Week - Updated September 2022

Congress comes back in session after the Labor Day weekend with a final push before the November elections. Over 20 bills regarding digital assets have been introduced to Congress, addressing a wide variety of areas including…more

Central Bank Digital Currency (CBDCs), CFTC, Cryptocurrency, Digital Assets, Digital Currency

See all updates »

Investment Funds & Private Capital Market Insights: SEC’s Final Amendments to Fund “Names Rule” and Procedures

On September 20, 2023, the Securities and Exchange Commission (the “SEC”) adopted amendments to Rule 35d-1 (the “Names Rule”) under the Investment Company Act of 1940, as amended, which is intended to prohibit the use of fund…more

Disclosure Requirements, Environmental Social & Governance (ESG), Investment Adviser, Investment Company Act of 1940, Recordkeeping Requirements

See all updates »

SEC Announces 2023 Examination Priorities for Fund Advisers

On February 7, 2023, the SEC’s Division of Examinations (the “Division”) issued its report on 2023 Examination Priorities. The following is a summary of key issues highlighted in the Division’s report which are of importance to…more

Anti-Money Laundering, Investment Adviser, Investment Advisers Act of 1940, Libor, Private Funds

See all updates »

Financing the Middleman: Traps for the Unwary When Financing an Intermediary Business

Lenders relying on a security interest in the accounts receivable of borrowers need to use caution when financing an intermediary business that could be subject to express or constructive trusts. If an intermediary business…more

Accounts Receivable, Bank Deposits, Beneficiaries, Borrowers, Constructive Trusts

See all updates »

A “special merger control regime” for Energy Network Enterprises

What has changed? The Energy Act 2023 introduces a new UK merger control regime under which all mergers between energy network companies active in the UK can be assessed for their impact on Ofgem’s ability to make comparisons…more

Energy Sector, Investment, Merger Controls, Ofgem, Regulatory Agenda

See all updates »

Seven Things to Know About California’s New Crypto Licensing Bill

As the world’s fifth-largest economy, the state of California plays a critical role in technological innovation globally, including in the areas of blockchain and financial technology. However, until now, the California…more

Blockchain, California, Department of Financial Protection and Innovation (DFPI), Digital Assets, Financial Services Industry

See all updates »

Finance in Five Minutes: Healthcare Finance Checkup

While mergers and acquisitions, and attendant financings may not be at a blistering pace globally, the prognosis for deal activity in the healthcare sector remains healthy, in particular as the consolidation of providers, the…more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Department of Justice (DOJ), Federal Trade Commission (FTC), Food and Drug Administration (FDA)

See all updates »

Key implications of the European Commission Report on the EU Securitisation Regulation for European CLO managers and investors

A new European Commission report on the functioning of the EU Securitisation Regulation addresses key uncertainties in existing interpretations of the EU Securitisation Regulation in the European CLO market. Some of the European…more

Disclosure Requirements, Environmental Social & Governance (ESG), European Banking Authority (EBA), European Commission, European Securities and Markets Authority (ESMA)

See all updates »

FERC’s Proposed Expansion of Duty of Candor Could Increase Compliance Risk

Can a seemingly innocuous requirement to tell the truth create unintended consequences? The Federal Energy Regulatory Commission (“FERC” or “Commission”) raised this question when it issued its July 28, 2022 Notice of Proposed…more

Duty of Candor, Energy Market, Federal Power Act, FERC, Fraud

See all updates »

Top PHive Crypto Enforcement Notes: January Edition

Happy New Year! While the holidays hopefully provided a chance to rest and recharge, things have not slowed down in the world of digital asset enforcement. We see a growing dedication of resources by government law enforcement…more

Bank Secrecy Act, CFTC, Cryptocurrency, Decentralized Autonomous Organization (DAO), Decentralized Finance (DeFi)

See all updates »

Financing the Middleman: Traps for the Unwary When Financing an Intermediary Business

Lenders relying on a security interest in the accounts receivable of borrowers need to use caution when financing an intermediary business that could be subject to express or constructive trusts. If an intermediary business…more

Accounts Receivable, Bank Deposits, Beneficiaries, Borrowers, Constructive Trusts

See all updates »

The DOJ’s New Pilot Program Promises to Pay Whistleblowers for Uncovering Corporate Crimes

On March 7, 2024, Deputy Attorney General (“DAG”) Lisa Monaco announced a new Department of Justice (“DOJ”) pilot program to pay whistleblower rewards (“the Program”) for individuals who report corporate misconduct. As the DAG…more

CFTC, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA), Money Laundering, Pilot Programs

See all updates »

FTC Announces Expansive and Unprecedented Non-compete Ban

On April 23, 2024, the Federal Trade Commission (FTC) adopted a Non‑Compete Clause Rule (the “Rule”) prohibiting most employee non‑compete agreements as unfair methods of competition by a vote of 3 to 2. The Rule is a somewhat…more

Apprenticeships, Chamber of Commerce, Federal Trade Commission (FTC), Independent Contractors, Internships

See all updates »

NLRB Adopts Stricter Standard for Assessing Lawfulness of Workplace Rules

The National Labor Relations Board recently issued a decision that should prompt most companies with U.S. operations to review—and, in all likelihood, modify—their workplace rules that apply to their workforce, whether unionized…more

Employee Rights, Employer Liability Issues, Employment Policies, NLRA, NLRB

See all updates »

SEC Adopts Rules Enhancing Short Sale Disclosures

On October 13, 2023, the U.S. Securities and Exchange Commission (the “SEC”) adopted final rules requiring the reporting and disclosure of short sale trade data information. New Rule 13f-2 implements new obligations on certain…more

Activist, Consolidated Audit Trail, Disclosure Requirements, Dodd-Frank, Final Rules

See all updates »

Seven Things to Know About California’s New Crypto Licensing Bill

As the world’s fifth-largest economy, the state of California plays a critical role in technological innovation globally, including in the areas of blockchain and financial technology. However, until now, the California…more

Blockchain, California, Department of Financial Protection and Innovation (DFPI), Digital Assets, Financial Services Industry

See all updates »

Federal Case Challenges Mass Arbitration “Shakedown” Amid Recent Amendments to AAA Rules

A recent complaint against plaintiffs’ firm Zimmerman Reed directly challenges the law firm’s mass arbitration tactics and alleged “weaponization” of a California privacy statute. The complaint comes as arbitration authorities…more

American Arbitration Association, Arbitration, Arbitration Agreements, Arbitration Fees, Federal Arbitration Act

See all updates »

Netherlands HCP Rate Caps: Key Updates

In early 2022, Dutch regulators deployed a new methodology for calculating the maximum hourly rates that life sciences companies may pay to healthcare professionals (“HCPs”) and others engaged in fee-for-service consulting…more

Fee-for-Service, Health Care Providers, Life Sciences, Medical Devices, Netherlands

See all updates »

FCC Adopts Anti-Discrimination Rules for Broadband Providers

Earlier this week, the Federal Communications Commission (“FCC”) voted 3-2 to adopt rules intended to prohibit discrimination and promote equal access to broadband internet service, regardless of race, income, or other factors…more

Anti-Discrimination Policies, Broadband, Enforcement, FCC, Internet Service Providers (ISPs)

See all updates »

U.S. Senate Passes Inflation Reduction Act

On August 7, after weeks of negotiations, the Senate voted 51-50 to pass a budget reconciliation package known as the Inflation Reduction Act (the “Bill”), introduced by Senators Joe Manchin (D‑WV) and Chuck Schumer (D‑NY) in…more

Affordable Care Act, Alternative Minimum Tax, Carbon Capture and Sequestration, Clean Energy, Corporate Taxes

See all updates »

Proactive Recommendations to Private Equity Sponsors During Debt Ceiling Uncertainty

Like most other enterprises that raise and spend capital, the federal government finances its spending in part through the issuance of debt. The federal debt limit is the maximum amount of money that the federal government is…more

Acquisition Agreements, Credit Ratings, Debt Ceiling, Debt Financing, Default

See all updates »

Treasury and IRS Release Final Regulations on Direct Pay

The Inflation Reduction Act of 2022 added Section 6417 to the Internal Revenue Code of 1986, as amended (the “Code”). Under this new section, certain taxpayers may make an elective payment, which will treat certain eligible…more

Carbon Capture and Sequestration, Final Rules, Income Taxes, Inflation Reduction Act (IRA), Internal Revenue Code (IRC)

See all updates »

Public Company Update: D.C. District Court Rules Proxy Voting Advice Beyond The Scope Of Federal Proxy Rules

On February 23, 2024, the U.S. District Court for the District of Columbia ruled in favor of Institutional Shareholder Services Inc. on the party’s motions for summary judgment, ending a years long dispute over whether proxy…more

Institutional Shareholder Services (ISS), National Association of Manufacturers, Proxy Voting, Proxy Voting Guidelines, Securities and Exchange Commission (SEC)

See all updates »

Reign Turns to Clouds—The Western District of Texas Fundamentally Changes Its Assignment Procedure for Patent Cases

On Monday, July 25, the Chief Judge for the Western District of Texas issued an order altering how patent cases are assigned in that District. The order implements a “random assignment” procedure that now prevents plaintiffs…more

Administrative Patent Judges, Assignments, Judges, Judicial Districts, Patent Litigation

See all updates »

The CFTC Announces New Enforcement Advisory – Penalties, Monitors, and Admissions

On October 17, 2023, the Commodity Futures Trading Commission’s (“CFTC” or “Commission”) Division of Enforcement (“DOE”) released its latest enforcement advisory, providing guidance to CFTC staff on resolution of an enforcement…more

Aggravating Factors, CFTC, Civil Monetary Penalty, Department of Justice (DOJ), Enforcement Actions

See all updates »

Increased Flexibility with New Public Offerings Regulatory Regime in Brazil

The Brazilian capital markets regulator, the Comissão de Valores Mobiliários (the “CVM”), has recently reformulated the regulatory framework for public offerings in Brazil…more

Capital Markets, Investment Banks, Public Offerings, Safe Harbors, Special Purpose Acquisition Companies (SPACs)

See all updates »

AIFMD II – A Summary of the Key Changes

10 years after the Alternative Investment Fund Managers Directive (AIFMD) entered into force, the Council of the European Union (EU) has published the final text of the political agreement reached in relation to the changes to…more

Alternative Investment Fund Managers Directive (AIFMD), Anti-Money Laundering, Asset Management, EU, Investment Funds

See all updates »

The DOJ’s New Pilot Program Promises to Pay Whistleblowers for Uncovering Corporate Crimes

On March 7, 2024, Deputy Attorney General (“DAG”) Lisa Monaco announced a new Department of Justice (“DOJ”) pilot program to pay whistleblower rewards (“the Program”) for individuals who report corporate misconduct. As the DAG…more

CFTC, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA), Money Laundering, Pilot Programs

See all updates »

Safe Harbor in the Coming Enforcement Storm? DOJ Announces New M&A Policy to Encourage Compliance

On October 4, 2023, Deputy Attorney General Lisa Monaco (the “DAG”) announced a new Mergers & Acquisitions (“M&A”) Safe Harbor Policy issued by the Department of Justice (“DOJ”) as part of her comments detailing increased…more

Anti-Corruption, Antitrust Division, Compliance, Corporate Governance, Corporate Misconduct

See all updates »

DOJ Criminal Division Announces New Voluntary Self-Disclosure Pilot Program for Individuals

On April 22, 2024, the Acting Assistant Attorney General for the Department of Justice (“DOJ”) Criminal Division (“Acting AAG”) Nicole M. Argentieri offered commentary in a blog post regarding the Criminal Division’s newest…more

CEOs, CFTC, COOs, Corporate Crimes, Corporate Misconduct

See all updates »

FinCEN Proposes AML and SAR Filing Obligations for RIAs and ERAs

On February 13, 2024, the United States Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a proposed rule that would apply comprehensive anti-money laundering and countering the financing of terrorism (“AML/CFT”)…more

AML/CFT, Anti-Money Laundering, Bank Holding Company, Bank Secrecy Act, Broker-Dealer

See all updates »

New Pay Transparency Law: Maryland Follows Growing Trend

On April 25, 2024, Maryland Governor Wes Moore signed into law a new set of pay transparency requirements for all Maryland employers that will take effect on October 1, 2024. The Wage Range Transparency Act imposes new…more

Equal Pay, Job Ads, Maryland, Pay Transparency, Popular

See all updates »

New Sanctions on Russia Mark Two-Year Anniversary of Ukraine Invasion

On February 23, 2024, the Biden Administration announced new sanctions targeting a number of different sectors of the Russian economy, Russian government officials and financial institutions, entities suspected of sanctions…more

Biden Administration, Bureau of Industry and Security (BIS), Economic Sanctions, Export Administration Regulations (EAR), Office of Foreign Assets Control (OFAC)

See all updates »

SEC Department of Examinations Issues Risk Alert on Marketing Rule Deficiencies

Last week, the Securities and Exchange Commission’s Division of Examinations (“DOE”) issued a Risk Alert (the “Alert”) entitled “Initial Observations Regarding Advisers Act Marketing Rule Compliance.” The Alert describes several…more

Compliance, Documentation, Investment Adviser, Marketing, Registered Investment Advisors

See all updates »

CFPB Takes Steps to Supervise Digital Payments Apps

On November 7, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule that would allow it to exercise its supervisory authority over larger nonbanks offering digital consumer payment applications, such as…more

Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Cryptocurrency, Digital Platforms, EFTA

See all updates »

Seven Things to Know About California’s New Crypto Licensing Bill

As the world’s fifth-largest economy, the state of California plays a critical role in technological innovation globally, including in the areas of blockchain and financial technology. However, until now, the California…more

Blockchain, California, Department of Financial Protection and Innovation (DFPI), Digital Assets, Financial Services Industry

See all updates »

EEOC Issues Final Regulation on Pregnant Workers Fairness Act

All employers should take note of the U.S. Equal Opportunity Commission’s (“EEOC”) final rule and interpretative guidance regarding the Pregnant Workers Fairness Act (“PWFA”), recently issued on April 19, 2024. Effective last…more

Americans with Disabilities Act (ADA), Equal Employment Opportunity Commission (EEOC), Pregnancy, Pregnant Workers Fairness Act, Reasonable Accommodation

See all updates »

Credit Funds: Riding the Sea of Change

We are delighted to bring this edition of Spotlight Magazine to you after the disruption of the past two years and the COVID-19 pandemic. There has been a sea of regulatory change that has evolved during this time, masked by…more

Alternative Investment Fund Managers Directive (AIFMD), Anti-Money Laundering, Blacklist, Coronavirus/COVID-19, Corporate Governance

See all updates »

An Eye on Insurance: Recent Developments in Insurance Regulation

The last months of 2023 capped off another major year for insurance regulation, with state insurance regulators and the National Association of Insurance Commissioners undertaking a number of initiatives that will affect the use…more

Algorithms, Artificial Intelligence, Colorado, Cybersecurity Framework, Data Protection

See all updates »

A Sea Change Looms as FDA Finalizes Its Controversial Regulation Asserting Jurisdiction Over LDTs

On April 29, 2024, after years of false starts trying to expand oversight of laboratory developed tests (“LDTs”) through administrative and legislative actions, FDA announced the much-anticipated—and highly controversial—final…more

Chevron Deference, CLIA, Clinical Laboratories, Federal Food Drug and Cosmetic Act (FFDCA), Food and Drug Administration (FDA)

See all updates »

U.S. Supreme Court Approves Foreign Plaintiff’s Use of Civil RICO in Connection with Enforcement of Foreign Arbitral Awards

On June 22, 2023, a 6-3 Opinion issued in Yegiazaryan v. Smagin, No. 22-381, the U.S. Supreme Court held that a plaintiff—whether located in the United States or abroad—may use the Racketeer Influenced and Corrupt Organizations…more

Foreign Arbitral Awards, Foreign Jurisdictions, International Arbitration, Racketeering, RICO

See all updates »

EEOC Issues Final Regulation on Pregnant Workers Fairness Act

All employers should take note of the U.S. Equal Opportunity Commission’s (“EEOC”) final rule and interpretative guidance regarding the Pregnant Workers Fairness Act (“PWFA”), recently issued on April 19, 2024. Effective last…more

Americans with Disabilities Act (ADA), Equal Employment Opportunity Commission (EEOC), Pregnancy, Pregnant Workers Fairness Act, Reasonable Accommodation

See all updates »

NLRB Elevates Union Authorization Cards Over Secret-Ballot Elections to Compel Employers to Recognize Unions

For more than 50 years, the National Labor Relations Board had held — with Supreme Court approval — that when a union claimed to represent an employer’s workforce, the employer could refuse to recognize the union, leaving the…more

Administrative Law Judge (ALJ), Cemex, Collective Bargaining, Employees, Labor Relations

See all updates »

NDCA’s New Whistleblower Pilot Program: A Unique Focus on Reporting Intellectual Property Theft

On March 18, 2024, Ismail Ramsey (“Ramsey”), the U.S. Attorney for the Northern District of California (“NDCA”), announced the launch of NDCA Whistleblower Pilot Program (the “Pilot Program”), a significant new policy that…more

Corporate Crimes, Corporate Misconduct, Department of Justice (DOJ), Intellectual Property Protection, National Security

See all updates »

Long-awaited Pay v. Performance Rules Adopted

Recently, the U.S. Securities and Exchange Commission (the “Commission”) adopted long anticipated final rules requiring registrants to disclose information regarding the relationship between the actual compensation paid to their…more

CD&A, Deferred Compensation, Dodd-Frank, Executive Compensation, Final Rules

See all updates »

HKIAC as First and Only outside Mainland China: Named by China International Commercial Court on One-Stop Platform for Diversified International Commercial Dispute Resolution

Starting from June 22, 2022, parties to international commercial arbitrations administered by the Hong Kong International Arbitration Centre (“HKIAC”) can apply directly to the China International Commercial Court (“CICC”) for…more

Arbitration, Arbitration Awards, China, Hong Kong International Arbitration Centre (HKIAC), International Arbitration

See all updates »

Updated: Date for Digital Asset Reporting is Here–Although Regs Have Not Been Promulgated

Please note this an update to a Client Alert that was issued on January 4, 2024. If you receive more than $10,000 in digital assets in one transaction (or a series of related transactions), the Infrastructure Investment and…more

Cash Transactions, Digital Assets, Electronic Filing, FinCEN, Infrastructure Investment and Jobs Act (IIJA)

See all updates »

New U.S. Outbound Investment Restrictions on High-Technology Sectors in China

On August 9, 2023, President Biden issued a long-awaited Executive Order establishing the legal authority for the U.S. Department of Treasury (“Treasury Department”) to institute an unprecedented regulatory regime restricting…more

Advanced Notice of Proposed Rulemaking (ANPRM), Artificial Intelligence, China, Executive Orders, Information Technology

See all updates »

More Clarity on the Horizon for FCPA Resolutions? DOJ and SEC Officials Discuss Enforcement Trends

On November 28–30, 2023, the American Conference Institute’s 40th International Conference on the Foreign Corrupt Practices Act (“FCPA”), held in Washington, D.C., brought together prosecutors, regulators, corporate compliance…more

Clawbacks, Compliance, Corruption, Deferred Prosecution Agreements, Department of Justice (DOJ)

See all updates »

An Eye on Insurance: Recent Developments in Insurance Regulation

The last months of 2023 capped off another major year for insurance regulation, with state insurance regulators and the National Association of Insurance Commissioners undertaking a number of initiatives that will affect the use…more

Algorithms, Artificial Intelligence, Colorado, Cybersecurity Framework, Data Protection

See all updates »

Recent Whistleblower Activity Increases Pressure on Internal Reporting and Investigation Mechanisms

On May 5, 2023, the Securities and Exchange Commission (“SEC”) granted its largest-ever whistleblower award of $279M to an individual, reportedly stemming from Ericsson’s $1.1B settlement to resolve claims that the…more

Department of Justice (DOJ), Dodd-Frank, Enforcement Actions, False Claims Act (FCA), Foreign Corrupt Practices Act (FCPA)

See all updates »

SVB Receivership – Considerations for Agents and Lenders

Background- On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for SVB…more

Agents, Bank Deposits, Banks, Board of Governors, Borrowers

See all updates »

H1 2022 Energy and Infrastructure Round-up

Welcome to our H1 2022 Energy and Infrastructure Round-up. Here we share our assessment of key legal and transactional developments in the energy and infrastructure market including: •Market Activity- •Market Commentary-…more

BEIS, Divestiture, Energy Sector, Environmental Social & Governance (ESG), European Commission

See all updates »

FTC Announces Increased HSR Thresholds and Filing Fees for 2024

Effective on March 6, 2024, the mandatory notification thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), will be increasing. The Size of Transaction threshold will jump from…more

Antitrust Division, Consolidated Appropriations Act (CAA), Consumer Price Index, Department of Justice (DOJ), Federal Trade Commission (FTC)

See all updates »

Despite Setbacks, Strong Support Remains for “Outbound CFIUS” Legislation

Efforts by a bipartisan group of U.S. lawmakers to establish a national security screening mechanism for investment in “countries of concern” (including the People’s Republic of China) were dealt a significant blow recently, as…more

America Competes Act, Bureau of Industry and Security (BIS), CFIUS, China, Foreign Investment

See all updates »

Navigating Control Mechanisms in Startups

The question of control is pivotal for startups and their investors. Startup founders naturally desire influence over their company's direction, but when external investors enter the picture, the dynamics of control often…more

Capital Raising, Dual Class Share Structures, Early Stage Companies, Initial Public Offering (IPO), Investors

See all updates »

With Japan's Ratification, the Singapore Mediation Convention Gains International Momentum

On October 1, 2023, Japan became the twelfth nation to ratify the United Nations Convention on International Settlement Agreements Resulting from Mediation (the “Singapore Convention”). Pursuant to Japanese domestic legislation,…more

International Arbitration, International Litigation, Japan, Mediation, Ratification

See all updates »

SDNY’s New Policy on Self-Disclosures for Individuals May Be a Game Changer

On January 10, 2024, Damian Williams, the U.S. Attorney for the Southern District of New York (“SDNY”), announced the launch of the SDNY Whistleblower Pilot Program (the “Pilot Program”), a significant new policy that promises…more

Anti-Money Laundering, Department of Justice (DOJ), Dodd-Frank, Financial Crimes, Incentives

See all updates »

NDCA’s New Whistleblower Pilot Program: A Unique Focus on Reporting Intellectual Property Theft

On March 18, 2024, Ismail Ramsey (“Ramsey”), the U.S. Attorney for the Northern District of California (“NDCA”), announced the launch of NDCA Whistleblower Pilot Program (the “Pilot Program”), a significant new policy that…more

Corporate Crimes, Corporate Misconduct, Department of Justice (DOJ), Intellectual Property Protection, National Security

See all updates »

New Decision Addresses Whether Transcription Error in Prior Art Supports Obviousness

More than 50 years ago, the Court of Customs and Patent Appeals (CCPA) in In re Yale, 434 F.2d 666 (C.C.P.A. 1970), held that where a prior art reference includes an obvious error of a typographical or similar nature that would…more

Appeals, Board of Patent Appeals, Inter Partes Review (IPR) Proceeding, Obviousness, Patent Trial and Appeal Board

See all updates »

SEC Wins Trial Involving First-Ever Shadow Trading Case

On April 5, 2024, a federal jury in the Northern District of California found defendant Matthew Panuwat liable for insider trading in the Securities and Exchange Commission’s (“SEC”) first-ever case involving the so-called…more

Breach of Duty, Confidential Information, Confidentiality Agreements, Duty of Trust, Financial Services Industry

See all updates »

Navigating Control Mechanisms in Startups

The question of control is pivotal for startups and their investors. Startup founders naturally desire influence over their company's direction, but when external investors enter the picture, the dynamics of control often…more

Capital Raising, Dual Class Share Structures, Early Stage Companies, Initial Public Offering (IPO), Investors

See all updates »

Key implications of the European Commission Report on the EU Securitisation Regulation for European CLO managers and investors

A new European Commission report on the functioning of the EU Securitisation Regulation addresses key uncertainties in existing interpretations of the EU Securitisation Regulation in the European CLO market. Some of the European…more

Disclosure Requirements, Environmental Social & Governance (ESG), European Banking Authority (EBA), European Commission, European Securities and Markets Authority (ESMA)

See all updates »

EEOC Draft Strategic Enforcement Plan Reflects Focus on Employers’ Use of Artificial Intelligence

On January 10, 2023, the Equal Employment Opportunity Commission (“EEOC”) published a draft Strategic Enforcement Plan (“SEP”) in the Federal Register. In it, the EEOC outlines the enforcement priorities that will guide its…more

Americans with Disabilities Act (ADA), Artificial Intelligence, Civil Rights Act, Employment Discrimination, Equal Employment Opportunity Commission (EEOC)

See all updates »

Carbon Offsets and Voluntary Carbon Markets – Opportunities and Uncertainty

The voluntary carbon market is rapidly growing to match the increasing focus by corporate leaders on ESG efforts and net-zero goals. In 2021, the voluntary carbon market reached $2 billion, and by some estimates may be worth up…more

Carbon Emissions, Carbon Off-Set Credits, CFTC, Environmental Social & Governance (ESG), EU

See all updates »

SEC Updates for Private Funds: Private Fund Rule Litigation and Marketing Rule FAQ

Private fund sponsors should be aware of two recent SEC regulatory developments with respect to (1) the newly adopted private fund rules (Rule 211(h)(1)-2; Rule 211(h)(2)-3; Rule 211(h)(2)-1; Rule 211(h)(2)-2, and Rule 206(4)-10…more

Fund Sponsors, Investment Adviser, Investment Advisers Act of 1940, Marketing, Private Funds

See all updates »

Navigating Control Mechanisms in Startups

The question of control is pivotal for startups and their investors. Startup founders naturally desire influence over their company's direction, but when external investors enter the picture, the dynamics of control often…more

Capital Raising, Dual Class Share Structures, Early Stage Companies, Initial Public Offering (IPO), Investors

See all updates »

FTC Announces Expansive and Unprecedented Non-compete Ban

On April 23, 2024, the Federal Trade Commission (FTC) adopted a Non‑Compete Clause Rule (the “Rule”) prohibiting most employee non‑compete agreements as unfair methods of competition by a vote of 3 to 2. The Rule is a somewhat…more

Apprenticeships, Chamber of Commerce, Federal Trade Commission (FTC), Independent Contractors, Internships

See all updates »

New Treasury Guidance on Sovereign Wealth Funds, Qualified Foreign Pension Funds, and REITS and RICs

On December 28, 2022, the Treasury Department and the IRS issued proposed regulations (the “Proposed Regulations”) on the treatment of qualified foreign pension funds (“QFPFs”) for purposes of the exemption from taxation for…more

C-Corporation, FIRPTA, Foreign Governments, Internal Revenue Code (IRC), Investors

See all updates »

PH Arbitration Speedread: English Court Sets Aside Multibillion-Dollar Award Procured by Fraud

In a significant decision, on 23 October 2023 the English Commercial Court (Knowles J) set aside a US$11 billion arbitration award obtained by a BVI-incorporated company against the Federal Republic of Nigeria arising from a…more

Arbitration, Arbitration Awards, Bribery, Compliance, Corruption

See all updates »

AIFMD II – A Summary of the Key Changes

10 years after the Alternative Investment Fund Managers Directive (AIFMD) entered into force, the Council of the European Union (EU) has published the final text of the political agreement reached in relation to the changes to…more

Alternative Investment Fund Managers Directive (AIFMD), Anti-Money Laundering, Asset Management, EU, Investment Funds

See all updates »

HKIAC as First and Only outside Mainland China: Named by China International Commercial Court on One-Stop Platform for Diversified International Commercial Dispute Resolution

Starting from June 22, 2022, parties to international commercial arbitrations administered by the Hong Kong International Arbitration Centre (“HKIAC”) can apply directly to the China International Commercial Court (“CICC”) for…more

Arbitration, Arbitration Awards, China, Hong Kong International Arbitration Centre (HKIAC), International Arbitration

See all updates »

China Enhances Scrutiny for Cross-Border Data Transfer that would Impact Multinational Companies

1. Introduction- China’s cross-border data transfer rules are unfolding in real time and taking clearer shape. On July 7, 2022, China’s cybersecurity regulatory agency, the Cyberspace Administration of China (“CAC”), issued the…more

Critical Infrastructure Sectors, Cross-Border, Cybersecurity, Data Breach, Data Storage

See all updates »

Despite Setbacks, Strong Support Remains for “Outbound CFIUS” Legislation

Efforts by a bipartisan group of U.S. lawmakers to establish a national security screening mechanism for investment in “countries of concern” (including the People’s Republic of China) were dealt a significant blow recently, as…more

America Competes Act, Bureau of Industry and Security (BIS), CFIUS, China, Foreign Investment

See all updates »

HKIAC as First and Only outside Mainland China: Named by China International Commercial Court on One-Stop Platform for Diversified International Commercial Dispute Resolution

Starting from June 22, 2022, parties to international commercial arbitrations administered by the Hong Kong International Arbitration Centre (“HKIAC”) can apply directly to the China International Commercial Court (“CICC”) for…more

Arbitration, Arbitration Awards, China, Hong Kong International Arbitration Centre (HKIAC), International Arbitration

See all updates »

Long-awaited Pay v. Performance Rules Adopted

Recently, the U.S. Securities and Exchange Commission (the “Commission”) adopted long anticipated final rules requiring registrants to disclose information regarding the relationship between the actual compensation paid to their…more

CD&A, Deferred Compensation, Dodd-Frank, Executive Compensation, Final Rules

See all updates »

From General Discretion to Agency Authority? FDA’s Bold Bid to Regulate Laboratory Developed Tests

After years of FDA discussion and failed congressional efforts to assert greater oversight of laboratory developed tests (LDTs), FDA has proposed a rule that would require many LDTs to comply with FDA’s requirements for in vitro…more

CLIA, Clinical Laboratories, Diagnostic Tests, Food and Drug Administration (FDA), Laboratory Developed Tests

See all updates »

SEC Issues Final Rule on Climate Disclosures

In an open meeting on Wednesday, March 6, 2024, the Securities and Exchange Commission (“SEC”) approved in a 3-2 vote a Final Rule on climate disclosures that will “require registrants to provide certain climate-related…more

Corporate Governance, Disclosure Requirements, Emerging Growth Companies, Environmental Social & Governance (ESG), EU

See all updates »

Loan Market Update: Q1-Q3 Recap, Trends & What’s Next

From Q1-Q3 of 2023, the U.S. loan market was marked by novel deal patterns and uneven market activity. Initially, the bulk of deals were portfolio work, including amend & extend transactions, covenant relief amendments and LIBOR…more

Banking Sector, Borrowers, EBITDA, Lenders, Libor

See all updates »

China Enhances Scrutiny for Cross-Border Data Transfer that would Impact Multinational Companies

1. Introduction- China’s cross-border data transfer rules are unfolding in real time and taking clearer shape. On July 7, 2022, China’s cybersecurity regulatory agency, the Cyberspace Administration of China (“CAC”), issued the…more

Critical Infrastructure Sectors, Cross-Border, Cybersecurity, Data Breach, Data Storage

See all updates »

A New Year and Another Chance to Get it Right – Tax Incentives and Permitting Reforms Pave the Way for More Renewables in 2023 and Beyond

On August 16, 2022, President Biden signed into law the Inflation Reduction Act (“IRA”). Heralded as a “transformative” legislative package, the IRA provides eye-popping incentives to drive clean energy development and related…more

California Energy Commission, Department of Energy (DOE), Energy Projects, Energy Storage, Inflation Reduction Act (IRA)

See all updates »

A Sea Change Looms as FDA Finalizes Its Controversial Regulation Asserting Jurisdiction Over LDTs

On April 29, 2024, after years of false starts trying to expand oversight of laboratory developed tests (“LDTs”) through administrative and legislative actions, FDA announced the much-anticipated—and highly controversial—final…more

Chevron Deference, CLIA, Clinical Laboratories, Federal Food Drug and Cosmetic Act (FFDCA), Food and Drug Administration (FDA)

See all updates »

FTC Sows Uncertainty with Unfair Competition Guidance

The Federal Trade Commission upended decades of antitrust compliance principles last week when it announced a broad framework for policing unfair methods of competition under Section 5 of the FTC Act…more

Antitrust Violations, Federal Trade Commission (FTC), FTC Act, Section 5, Sherman Act

See all updates »

California Passes New ESG Disclosure Laws Ahead of SEC, Triggering Increased Regulatory and Litigation Risk for Companies Doing Business in California

On October 7, 2023, Governor Gavin Newsom signed Senate Bill 253 into law, which imposes climate-related disclosure requirements for companies with revenues over $1 billion annually that do business in California. On the same…more

California, Disclosure Requirements, Duty to Disclose, Environmental Protection Agency (EPA), Environmental Social & Governance (ESG)

See all updates »

Despite Setbacks, Strong Support Remains for “Outbound CFIUS” Legislation

Efforts by a bipartisan group of U.S. lawmakers to establish a national security screening mechanism for investment in “countries of concern” (including the People’s Republic of China) were dealt a significant blow recently, as…more

America Competes Act, Bureau of Industry and Security (BIS), CFIUS, China, Foreign Investment

See all updates »

Market Intersection: A Quarterly Look at the U.S. Credit Markets 4Q22

In 4Q22, volatile market conditions persisted, including high inflation, rising interest rates, recession anxiety and geopolitical uncertainties. The impact of these conditions was reflected in decreased loan market activity,…more

Direct Lending, Financial Markets, Interest Rates, Loans, Middle Market

See all updates »

HKIAC as First and Only outside Mainland China: Named by China International Commercial Court on One-Stop Platform for Diversified International Commercial Dispute Resolution

Starting from June 22, 2022, parties to international commercial arbitrations administered by the Hong Kong International Arbitration Centre (“HKIAC”) can apply directly to the China International Commercial Court (“CICC”) for…more

Arbitration, Arbitration Awards, China, Hong Kong International Arbitration Centre (HKIAC), International Arbitration

See all updates »

FTC Proposed Ban on Non-Competes Includes M&A Exception Comparable to California Law

On January 5, 2023, the Federal Trade Commission (“FTC”) announced a proposed regulation (the “Proposed Rule”) that would ban non-compete agreements imposed against workers by employers. The Proposed Rule includes a narrow…more

Employment Contract, Exceptions, Federal Trade Commission (FTC), Non-Compete Agreements, NPRM

See all updates »

Kraken Consents to SEC Injunction and Ceases Marketing its Staking-as-a-Service Program

In a headline-grabbing action, the Securities and Exchange Commission (“SEC”) announced on February 9 that it had instituted and settled an enforcement action against Kraken, a large crypto trading platform, in which it alleged…more

Cryptocurrency, Digital Assets, Enforcement Actions, Howey, Popular

See all updates »

SEC Reporting Obligations Under Section 13 and Section 16 of the Exchange Act

This legal update summarizes (a) the reporting requirements under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are generally applicable to persons that own, or exercise investment…more

Beneficial Owner, Control Person, EDGAR, Investment Management, Investors

See all updates »

Supreme Court Rules Pure Omissions Not Actionable under Rule 10b-5

On April 12, 2024, the U.S. Supreme Court issued its decision in Macquarie Infrastructure Corp. v. Moab Partners, L.P., No. 22-1165, 601 U.S. __ (Apr. 12, 2024), in which the Court held that pure omissions are not actionable…more

Disclosure Requirements, Failure To Disclose, Macquarie Infrastructure Corp v Moab Partners LP, Omissions, Rule 10(b)

See all updates »

This profile may constitute attorney advertising. Prior results do not guarantee a similar outcome. Any correspondence with this profile holder does not constitute a client/attorney relationship. Neither the content on this profile nor transmissions between you and the profile holder through this profile are intended to provide legal or other advice or to create an attorney-client relationship.

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide

JD Supra Privacy Policy

Updated: Dec 28, 2021:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

This Privacy Policy describes how JD Supra, LLC ("JD Supra" or "we," "us," or "our") collects, uses and shares personal data collected from visitors to our website (located at www.jdsupra.com) (our "Website") who view only publicly-available content as well as subscribers to our services (such as our email digests or author tools)(our "Services"). By using our Website and registering for one of our Services, you are agreeing to the terms of this Privacy Policy.

Please note that if you subscribe to one of our Services, you can make choices about how we collect, use and share your information through our Privacy Center under the "My Account" dashboard (available if you are logged into your JD Supra account).

Collection of Information

Registration Information. When you register with JD Supra for our Website and Services, either as an author or as a subscriber, you will be asked to provide identifying information to create your JD Supra account ("Registration Data"), such as your:

  • Email
  • First Name
  • Last Name
  • Company Name
  • Company Industry
  • Title
  • Country

Other Information: We also collect other information you may voluntarily provide. This may include content you provide for publication. We may also receive your communications with others through our Website and Services (such as contacting an author through our Website) or communications directly with us (such as through email, feedback or other forms or social media). If you are a subscribed user, we will also collect your user preferences, such as the types of articles you would like to read.

Information from third parties (such as, from your employer or LinkedIn): We may also receive information about you from third party sources. For example, your employer may provide your information to us, such as in connection with an article submitted by your employer for publication. If you choose to use LinkedIn to subscribe to our Website and Services, we also collect information related to your LinkedIn account and profile.

Your interactions with our Website and Services: As is true of most websites, we gather certain information automatically. This information includes IP addresses, browser type, Internet service provider (ISP), referring/exit pages, operating system, date/time stamp and clickstream data. We use this information to analyze trends, to administer the Website and our Services, to improve the content and performance of our Website and Services, and to track users' movements around the site. We may also link this automatically-collected data to personal information, for example, to inform authors about who has read their articles. Some of this data is collected through information sent by your web browser. We also use cookies and other tracking technologies to collect this information. To learn more about cookies and other tracking technologies that JD Supra may use on our Website and Services please see our "Cookies Guide" page.

How do we use this information?

We use the information and data we collect principally in order to provide our Website and Services. More specifically, we may use your personal information to:

  • Operate our Website and Services and publish content;
  • Distribute content to you in accordance with your preferences as well as to provide other notifications to you (for example, updates about our policies and terms);
  • Measure readership and usage of the Website and Services;
  • Communicate with you regarding your questions and requests;
  • Authenticate users and to provide for the safety and security of our Website and Services;
  • Conduct research and similar activities to improve our Website and Services; and
  • Comply with our legal and regulatory responsibilities and to enforce our rights.

How is your information shared?

  • Content and other public information (such as an author profile) is shared on our Website and Services, including via email digests and social media feeds, and is accessible to the general public.
  • If you choose to use our Website and Services to communicate directly with a company or individual, such communication may be shared accordingly.
  • Readership information is provided to publishing law firms and companies and authors of content to give them insight into their readership and to help them to improve their content.
  • Our Website may offer you the opportunity to share information through our Website, such as through Facebook's "Like" or Twitter's "Tweet" button. We offer this functionality to help generate interest in our Website and content and to permit you to recommend content to your contacts. You should be aware that sharing through such functionality may result in information being collected by the applicable social media network and possibly being made publicly available (for example, through a search engine). Any such information collection would be subject to such third party social media network's privacy policy.
  • Your information may also be shared to parties who support our business, such as professional advisors as well as web-hosting providers, analytics providers and other information technology providers.
  • Any court, governmental authority, law enforcement agency or other third party where we believe disclosure is necessary to comply with a legal or regulatory obligation, or otherwise to protect our rights, the rights of any third party or individuals' personal safety, or to detect, prevent, or otherwise address fraud, security or safety issues.
  • To our affiliated entities and in connection with the sale, assignment or other transfer of our company or our business.

How We Protect Your Information

JD Supra takes reasonable and appropriate precautions to insure that user information is protected from loss, misuse and unauthorized access, disclosure, alteration and destruction. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. You should keep in mind that no Internet transmission is ever 100% secure or error-free. Where you use log-in credentials (usernames, passwords) on our Website, please remember that it is your responsibility to safeguard them. If you believe that your log-in credentials have been compromised, please contact us at privacy@jdsupra.com.

Children's Information

Our Website and Services are not directed at children under the age of 16 and we do not knowingly collect personal information from children under the age of 16 through our Website and/or Services. If you have reason to believe that a child under the age of 16 has provided personal information to us, please contact us, and we will endeavor to delete that information from our databases.

Links to Other Websites

Our Website and Services may contain links to other websites. The operators of such other websites may collect information about you, including through cookies or other technologies. If you are using our Website or Services and click a link to another site, you will leave our Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We are not responsible for the data collection and use practices of such other sites. This Policy applies solely to the information collected in connection with your use of our Website and Services and does not apply to any practices conducted offline or in connection with any other websites.

Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

  • Our Legal Basis for Processing: Generally, we rely on our legitimate interests in order to process your personal information. For example, we rely on this legal ground if we use your personal information to manage your Registration Data and administer our relationship with you; to deliver our Website and Services; understand and improve our Website and Services; report reader analytics to our authors; to personalize your experience on our Website and Services; and where necessary to protect or defend our or another's rights or property, or to detect, prevent, or otherwise address fraud, security, safety or privacy issues. Please see Article 6(1)(f) of the E.U. General Data Protection Regulation ("GDPR") In addition, there may be other situations where other grounds for processing may exist, such as where processing is a result of legal requirements (GDPR Article 6(1)(c)) or for reasons of public interest (GDPR Article 6(1)(e)). Please see the "Your Rights" section of this Privacy Policy immediately below for more information about how you may request that we limit or refrain from processing your personal information.
  • Your Rights
    • Right of Access/Portability: You can ask to review details about the information we hold about you and how that information has been used and disclosed. Note that we may request to verify your identification before fulfilling your request. You can also request that your personal information is provided to you in a commonly used electronic format so that you can share it with other organizations.
    • Right to Correct Information: You may ask that we make corrections to any information we hold, if you believe such correction to be necessary.
    • Right to Restrict Our Processing or Erasure of Information: You also have the right in certain circumstances to ask us to restrict processing of your personal information or to erase your personal information. Where you have consented to our use of your personal information, you can withdraw your consent at any time.

You can make a request to exercise any of these rights by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

  • Timeframe for retaining your personal information: We will retain your personal information in a form that identifies you only for as long as it serves the purpose(s) for which it was initially collected as stated in this Privacy Policy, or subsequently authorized. We may continue processing your personal information for longer periods, but only for the time and to the extent such processing reasonably serves the purposes of archiving in the public interest, journalism, literature and art, scientific or historical research and statistical analysis, and subject to the protection of this Privacy Policy. For example, if you are an author, your personal information may continue to be published in connection with your article indefinitely. When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
  • Onward Transfer to Third Parties: As noted in the "How We Share Your Data" Section above, JD Supra may share your information with third parties. When JD Supra discloses your personal information to third parties, we have ensured that such third parties have either certified under the EU-U.S. or Swiss Privacy Shield Framework and will process all personal data received from EU member states/Switzerland in reliance on the applicable Privacy Shield Framework or that they have been subjected to strict contractual provisions in their contract with us to guarantee an adequate level of data protection for your data.

California Privacy Rights

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

Access/Correct/Update/Delete Personal Information

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to privacy@jdsupra.com. We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to privacy@jdsupra.com.

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

If you have any questions about this Privacy Policy, the practices of this site, your dealings with our Website or Services, or if you would like to change any of the information you have provided to us, please contact us at: privacy@jdsupra.com.

JD Supra Cookie Guide

As with many websites, JD Supra's website (located at www.jdsupra.com) (our "Website") and our services (such as our email article digests)(our "Services") use a standard technology called a "cookie" and other similar technologies (such as, pixels and web beacons), which are small data files that are transferred to your computer when you use our Website and Services. These technologies automatically identify your browser whenever you interact with our Website and Services.

How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

  1. Improve the user experience on our Website and Services;
  2. Store the authorization token that users receive when they login to the private areas of our Website. This token is specific to a user's login session and requires a valid username and password to obtain. It is required to access the user's profile information, subscriptions, and analytics;
  3. Track anonymous site usage; and
  4. Permit connectivity with social media networks to permit content sharing.

There are different types of cookies and other technologies used our Website, notably:

  • "Session cookies" - These cookies only last as long as your online session, and disappear from your computer or device when you close your browser (like Internet Explorer, Google Chrome or Safari).
  • "Persistent cookies" - These cookies stay on your computer or device after your browser has been closed and last for a time specified in the cookie. We use persistent cookies when we need to know who you are for more than one browsing session. For example, we use them to remember your preferences for the next time you visit.
  • "Web Beacons/Pixels" - Some of our web pages and emails may also contain small electronic images known as web beacons, clear GIFs or single-pixel GIFs. These images are placed on a web page or email and typically work in conjunction with cookies to collect data. We use these images to identify our users and user behavior, such as counting the number of users who have visited a web page or acted upon one of our email digests.

JD Supra Cookies. We place our own cookies on your computer to track certain information about you while you are using our Website and Services. For example, we place a session cookie on your computer each time you visit our Website. We use these cookies to allow you to log-in to your subscriber account. In addition, through these cookies we are able to collect information about how you use the Website, including what browser you may be using, your IP address, and the URL address you came from upon visiting our Website and the URL you next visit (even if those URLs are not on our Website). We also utilize email web beacons to monitor whether our emails are being delivered and read. We also use these tools to help deliver reader analytics to our authors to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

Analytics/Performance Cookies. JD Supra also uses the following analytic tools to help us analyze the performance of our Website and Services as well as how visitors use our Website and Services:

  • HubSpot - For more information about HubSpot cookies, please visit legal.hubspot.com/privacy-policy.
  • New Relic - For more information on New Relic cookies, please visit www.newrelic.com/privacy.
  • Google Analytics - For more information on Google Analytics cookies, visit www.google.com/policies. To opt-out of being tracked by Google Analytics across all websites visit http://tools.google.com/dlpage/gaoptout. This will allow you to download and install a Google Analytics cookie-free web browser.

Facebook, Twitter and other Social Network Cookies. Our content pages allow you to share content appearing on our Website and Services to your social media accounts through the "Like," "Tweet," or similar buttons displayed on such pages. To accomplish this Service, we embed code that such third party social networks provide and that we do not control. These buttons know that you are logged in to your social network account and therefore such social networks could also know that you are viewing the JD Supra Website.

Controlling and Deleting Cookies

If you would like to change how a browser uses cookies, including blocking or deleting cookies from the JD Supra Website and Services you can do so by changing the settings in your web browser. To control cookies, most browsers allow you to either accept or reject all cookies, only accept certain types of cookies, or prompt you every time a site wishes to save a cookie. It's also easy to delete cookies that are already saved on your device by a browser.

The processes for controlling and deleting cookies vary depending on which browser you use. To find out how to do so with a particular browser, you can use your browser's "Help" function or alternatively, you can visit http://www.aboutcookies.org which explains, step-by-step, how to control and delete cookies in most browsers.

Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

- hide