Morgan Lewis

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2222 Market St.
Philadelphia, PA 19103-3007, United States
Phone: 215.963.5000
Fax: 215.963.5001
Practice Groups
Areas Of Practice
  • Administrative Law
  • Alternative Dispute Resolution (ADR)
  • Antitrust & Trade Regulation
  • Appellate Practice
  • Art, Entertainment, & Sports Law
  • Bankruptcy
  • Business Organizations
  • Civil Rights
  • Class Action
  • Commercial Law & Contracts
  • Communications & Media Law
  • Constitutional Law
  • Construction Law
  • Debtor/Creditor
  • Education
  • Elections & Politics
  • Energy & Utilities
  • Environmental Law
  • Finance & Banking
  • Government
  • Health
  • Immigration Law
  • Indigenous Peoples
  • Insurance
  • Intellectual Property
  • International Law & Trade
  • Labor & Employment Law
  • Litigation
  • Maritime Law
  • Mergers & Acquisitions
  • Privacy
  • Products Liability
  • Real Estate
  • Science, Computers, & Tech
  • Securities Law
  • Taxation
  • Toxic Torts
  • Transportation
  • Workers' Compensation
  • Zoning, Planning & Land Use
See more
Locations
Other U.S. Locations
  • California
  • Connecticut
  • D.C.
  • Delaware
  • Florida
  • Illinois
  • Massachusetts
  • New Jersey
  • New York
  • Pennsylvania
  • Texas
  • Washington
Other Countries
  • Belgium
  • China
  • France
  • Germany
  • Hong Kong
  • Japan
  • Kazakhstan
  • Singapore
  • United Arab Emirates
  • United Kingdom
Number of Attorneys
1,000+ Attorneys

Securities Enforcement Roundup – July 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from July 2025. In July 2025: As part of its FINRA Forward program, FINRA CEO Robert Cook announced a new… more

Administrative Procedure Act, Appeals, Broker-Dealer, Conflicts of Interest, Cryptoassets

See all updates »

Investment Opportunities and Regulatory Framework in Kazakhstan

The Republic of Kazakhstan, having vast reserves of natural resources and being located at the intersection of Europe and Asia, competes for investments in the region. As such, and as laid out in this article, the government… more

Arbitration, Contract Terms, Foreign Investment, Income Taxes, Investment

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USPTO Withdraws Proposed Terminal Disclaimer Rule

The United States Patent and Trademark Office (USPTO) has withdrawn a proposed rule for filing terminal disclaimers to overcome obviousness-type double patenting rejections. The proposed rule would likely have had wide… more

Double Patent, Intellectual Property Protection, Obviousness, Patents, USPTO

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Supreme Court Holds Ban on Treatment for Transgender Minors Does Not Violate Equal Protection Clause

The US Supreme Court on June 18, 2025 rejected a challenge under the Fourteenth Amendment’s Equal Protection Clause to Tennessee law SB1, which prohibits healthcare providers from dispensing puberty blockers, hormone replacement… more

Constitutional Challenges, Equal Protection, Fourteenth Amendment, Gender Identity, New Legislation

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NLRB Restrains Employer Speech, Finds Captive-Audience Meetings Unlawful

A split National Labor Relations Board recently issued its decision in Amazon.com Services LLC, ruling an employer violates the National Labor Relations Act by mandating employees attend a meeting in which the employer expresses… more

Employer Liability Issues, NLRA, NLRB, Unfair Labor Practices, Union Representatives

See all updates »

Window of Opportunity Available for Reducing 2023 PBGC Premiums

Single-employer defined benefit pension plans that have elected to use the “alternative method” for determining Pension Benefit Guaranty Corporation (PBGC) premiums have a window to take action that may significantly reduce… more

Employee Benefits, PBGC, Pensions, Retirement Plan

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Supreme Court Won’t Hear Nextel’s Challenge to PA’s Cap on Net Operating Loss Carryforwards

Following the US Supreme Court’s denial of cert in Nextel, taxpayers with protective refund claims held pending the ultimate outcome of Nextel will need to re-evaluate their claims as Pennsylvania begins to address them… more

Appeals, Net Operating Losses, Nextel, PA Supreme Court, SCOTUS

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White House Issues Executive Order to Fast-Track Data Center Development

In a major move to bolster US digital infrastructure, the White House issued an executive order on July 23, 2025 aimed at accelerating the federal permitting process for data centers and related infrastructure. The order is part… more

Artificial Intelligence, Data Centers, Department of Defense (DOD), Department of Energy (DOE), Department of the Interior

See all updates »

SEC Modernizes Framework for Fund Valuation Practices

Financial markets and fund investment practices have changed substantially since the US Securities and Exchange Commission (SEC) last addressed fund valuation comprehensively 50 years ago. In adopting Rule 2a-5 on December 3,… more

Business Development Companies, Corporate Governance, Investment Company Act of 1940, Investment Funds, Securities and Exchange Commission (SEC)

See all updates »

New Restatement Rule Expands Vicarious Liability for Employee Sexual Misconduct

The American Law Institute approved a controversial new provision of the Restatement of Torts, Third expanding vicarious liability to employers for certain sexual assaults committed by employees against third parties who are… more

Commercial Insurance Policies, Employer Liability Issues, Employer Responsibilities, Employment Litigation, Independent Contractors

See all updates »

Inaugural Strike Force Meeting Signals Broad Cross-Agency Focus on Pricing

The Federal Trade Commission (FTC) and the US Department of Justice (DOJ) on August 1, 2024 co-hosted the first public meeting of the Strike Force on Unfair and Illegal Pricing (Strike Force), formed by President Joseph Biden… more

Consumer Financial Protection Bureau (CFPB), Department of Health and Human Services (HHS), Department of Justice (DOJ), Department of Transportation (DOT), FCC

See all updates »

DOL Issues Temporary Enforcement Policy for Small Amount Transfers to State Unclaimed Property Funds

The US Department of Labor recently issued Field Assistance Bulletin (FAB) 2025-01, a temporary enforcement policy regarding the transfer of small retirement plan benefits to state unclaimed property funds. This development is… more

401k, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

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Leveraging Legal Expertise in M&A Transactions to Drive Business Success

Given the significance of strategic transactions such as mergers, acquisitions, or dispositions, it is likely that in-house counsel has competent external counsel that it can leverage to do much of the heavy lifting regarding… more

Acquisitions, Corporate Counsel, Mergers, Shareholders

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2017 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases… more

Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Penalties, Securities and Exchange Commission (SEC)

See all updates »

Massachusetts High Court Clarifies Noncompete Law’s Scope, Declines to Let Nonsolicits ‘Through the Back Door’

In Miele v. Foundation Medicine, Inc., the Massachusetts Supreme Judicial Court (SJC) clarified that the Massachusetts Noncompetition Agreement Act (MNAA or the Act) does not apply to a forfeiture clause triggered by a breach of… more

Appeals, Breach of Contract, Contract Disputes, Contract Terms, Employment Contract

See all updates »

EU Competition Authorities Escalate Enforcement of No-Poach Agreements

The French Competition Authority recently fined several companies for no-poach agreements, following similar action by the European Commission in the online food delivery sector. These decisions mark a sharp escalation in labor… more

Acquisitions, Antitrust Provisions, Competition, Employee Rights, Employment Contract

See all updates »

California Announces Substantial Increase in Compensation Rate for Computer Professional Exemption in 2023

California employers must ensure that compensation rates for computer professionals meet new salary thresholds, effective January 1, 2023. As inflation continues to rise, so too have the minimum wage thresholds for the… more

Department of Labor (DOL), Exempt-Employees, Fair Labor Standards Act (FLSA), Highly Compensated Employees, Minimum Salary

See all updates »

Five Developments Family Offices Are Watching in 2025

As family offices continue to adapt to economic, financial, and technological changes, several ongoing developments are giving family offices plenty consider heading into 2025, including gift and estate tax exemptions, which are… more

Anti-Money Laundering, Estate Planning, Estate Tax, Estate-Tax Exemption, Family Offices

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DOJ Issues Anticipated FCPA Enforcement Guidelines with Focus on US Interests, Individual Accountability

The US Department of Justice has issued new guidance regarding enforcement of the Foreign Corrupt Practices Act (FCPA) in a June 9 memorandum from Deputy Attorney General Todd Blanche. The memorandum formalizes a shift in FCPA… more

Anti-Corruption, Bribery, Corporate Counsel, Corruption, Department of Justice (DOJ)

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California Further Bolsters its Prohibitions on Noncompete Agreements

On the heels of the enactment of Senate Bill 699, which fortified California’s restrictions on noncompete agreements and other restrictive covenants and provided additional employee protections, California has once more… more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Non-Solicitation Agreements, Restrictive Covenants

See all updates »

COVID-19 in Germany: The Employment Law Response – So Far

The coronavirus (COVID-19) pandemic challenges people, economies, and governments across the globe. This LawFlash highlights the actions affecting employers and employees that the German federal government has taken, or is about… more

Coronavirus/COVID-19, Germany, International Labor Laws, Social Distancing, Wage and Hour

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The New DIFC Prescribed Company Regulations 2024

The DIFC Prescribed Company Regulations 2024 (New PC Regulations) were enacted on July 15, 2024. Replacing the former PC Regulations 2019 (and the 2020 and 2022 amendments thereto), the New PC Regulations aim to streamline and… more

DIFC, Dubai, Gulf Cooperation Council (GCC), United Arab Emirates (UAE)

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Silicon Valley Bank Collapse: Initial Issues Raised

The California Department of Financial Protection & Innovation on March 10 declared Silicon Valley Bank insolvent and appointed the FDIC as receiver. To help with the resolution of SVB, the FDIC created the Deposit Insurance… more

Banking Sector, Deposit Insurance, Disclosure Requirements, FDIC, Financial Crisis

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One Big Beautiful Bill Act Tax Proposals: Select Highlights and Implications

The US House of Representatives on May 22, 2025 passed the One Big Beautiful Bill Act (the Act), which includes a tax package that would extend certain provisions of the 2017 Tax Cuts and Jobs Act set to expire at the end of… more

Clean Energy, Energy Policy, Energy Sector, Inflation Reduction Act (IRA), Investment Funds

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Contract Corner: Exceptions to Unenforceability of Termination in the Event of Bankruptcy Clauses (Part 2)

In Part 1, we discussed how, despite widespread usage, termination in the event of bankruptcy clauses (“ipso facto” clauses) are generally unenforceable pursuant to the bankruptcy code. In this second part, we discuss why these… more

Bankruptcy Code, Commercial Bankruptcy, Executory Contracts, Ipso Facto Clauses

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‘Mini-HSR’ Acts Take Effect in Washington and Colorado, with Similar Legislation Pending in Other States

Colorado and Washington state recently became the first states to adopt their own smaller versions of the Hart-Scott-Rodino Antitrust Improvements (HSR) Act. These “mini-HSR” state laws require certain parties that submit… more

Antitrust Provisions, Filing Requirements, Hart-Scott-Rodino Act, Merger Controls, Merger Reviews

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Paycheck Protection Program Loans: Advice for Borrowers and Lenders

Both borrowers and lenders need to be aware of issues arising from a new US government loan program for small businesses relative to existing capital structures, although some guidance also is not yet available. Both borrowers… more

Business Interruption, CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus

See all updates »

Addressing Tariffs and Trade in Energy Storage Projects

Two major areas of international trade that will remain causes of concern for energy storage projects are the application of tariffs and supply chain integrity. While it remains to be seen what the US administration might impose… more

Batteries, China, Customs and Border Protection, Energy Sector, Energy Storage

See all updates »

SEC Roundtable on Tokenization: Technology Meets Regulation in the Evolution of Capital Markets

The US Securities and Exchange Commission recently convened a public roundtable, Tokenization – Moving Assets Onchain: Where TradFi and DeFi Meet, the fourth in a five-part series hosted by its Crypto Task Force. The May 12… more

Blockchain, Capital Markets, Cryptocurrency, Digital Assets, FinTech

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Modernizing FINRA Rules for Member Workplaces: A Call for Comments

FINRA previously announced in Regulatory Notice 25-04 that it is launching a broad review to modernize its rules regarding member firms and associated persons and identified the modern workplace as its area of initial focus… more

Broker-Dealer, Financial Industry Regulatory Authority (FINRA), Investment Adviser, Modernization, Registered Investment Advisors

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Maryland Supreme Court Upholds Removal of Civil Statute of Limitations for Child Sexual Abuse Cases

Maryland’s highest court, in a 4-3 decision on February 3, narrowly upheld the Child Victims Act of 2023, a law that retroactively and prospectively repeals the civil statute of limitations for survivors of child sexual abuse… more

Child Abuse, Damages, Educational Institutions, Public Schools, School Policies

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EU Update: EES and ETIAS Implementation Timelines - Phased Rollout Confirmed

The European Union has provided updated guidance on the phased implementation of its long-anticipated Entry/Exit System (EES) and the European Travel Information and Authorisation System (ETIAS), both of which form part of a… more

Employer Responsibilities, EU, Immigration Procedures, International Travel, Regulatory Requirements

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Federal Circuit Applies Prosecution History Estoppel Based on Claim Cancellation

The US Court of Appeals for the Federal Circuit recently held that cancellation of a claim during prosecution may give rise to prosecution history estoppel, precluding the patentee from recapturing the surrendered subject matter… more

Appeals, CAFC, Claim Construction, Doctrine of Equivalents, Patent Infringement

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FTC Letters to Endorsers Highlight Need for Transparency in Social Media Advertising

The Federal Trade Commission sent letters to online influencers and marketers regarding disclosure obligations in social media endorsements… more

Advertising, Endorsements, Federal Trade Commission (FTC), FTC Endorsement Guidelines, Marketing

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How to Develop Partner-Ready Patent Estates

For our third and final Biotech Week Boston post, partner Stephen Altieri—one of the many within our 250-member-strong comprehensive cross-practice life sciences team with an advanced scientific degree—discusses efficient patent… more

Intellectual Property Protection, Patent Infringement, Patents, Pharmaceutical Industry, Pharmaceutical Patents

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Metaverse: A Jumpstart Guide to Intellectual Property, Antitrust, and International Considerations

The term “metaverse” first appeared in Neal Stephenson’s dystopian novel Snow Crash in 1992. Two decades later, the metaverse has evolved from a concept in print into an interactive and immersive reality. Its hyper-realistic… more

Corporate Branding, Cryptocurrency, Digital Assets, Intellectual Property Protection, Metaverse

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FTC Raises Hart-­Scott-­Rodino Thresholds and Filing Fees for 2025

The Federal Trade Commission (FTC) announced on January 10, 2025 that it will raise the Hart­-Scott­-Rodino Act (HSR Act) jurisdictional and filing fee thresholds. The increased thresholds will go into effect 30 days after their… more

Acquisitions, Antitrust Provisions, Competition, Corporate Counsel, Federal Trade Commission (FTC)

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Powering the Digital Future: The Rise of Data Centers in the Middle East

The Middle East is experiencing a transformative surge in its data center industry, driven by digital transformation, the widespread adoption of cloud services, and strategic investments in artificial intelligence (AI). The… more

Artificial Intelligence, Clean Energy, Cloud Computing, Cybersecurity, Data Centers

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

See all updates »

Key Considerations for the United States’ Notice Implementing OECD’s ‘Amount B’

The Internal Revenue Service (IRS) has released Notice 2025-04 announcing the IRS and US Department of the Treasury’s intention to issue proposed regulations implementing “Amount B,” the OECD’s new method (also known as the… more

Corporate Taxes, Income Taxes, Internal Revenue Code (IRC), IRS, OECD

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DOJ Targeting Private Equity Firms in False Claims Act Litigation

A recent complaint by the US Department of Justice against private equity firm Riordan, Lewis & Haden signals that such firms could be a new class of defendants in False Claims Act cases. Private equity firms are thus… more

Department of Justice (DOJ), False Claims Act (FCA), Private Equity Firms

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Tariff-Related Commercial Litigation: What Businesses Need to Know About Force Majeure Clauses & Common Law Defenses

Faced with ongoing tariff uncertainty, companies in the United States and abroad are grappling with the consequences of existing or forthcoming trade duties for their businesses. Exacerbating this uncertainty, companies’… more

Commercial Litigation, Contract Disputes, Contract Terms, Countervailing Duties, Force Majeure Clause

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Maryland Joins Growing Number of States Issuing Heat Illness Prevention Standards

Maryland Occupational Safety and Health (MOSH) issued the final version of its Heat Stress Standards, which became effective on September 30, 2024, becoming the first state on the East Coast to adopt a heat standard and joining… more

Employer Liability Issues, Health and Safety, Heat Exposure, State Labor Laws, Workplace Hazards

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New York Labor Law Amendment Limits Damages for ‘Frequency-of-Pay’ Violations

New York recently passed an amendment to New York Labor Law (NYLL) § 198(1-a) that significantly limits the available damages for a violation of NYLL § 191(1)(a) in a “frequency-of-pay” lawsuit… more

Amended Legislation, Damages, Employees, Employer Liability Issues, Employment Litigation

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The Introduction of Commercial Courts and Commercial Chambers in Germany

On April 1, 2025, the Act to Strengthen the Judicial System (Justizstandort-Stärkungsgesetz – Strengthening Act) came into force. This Act authorizes the federal states to establish specialized chambers for commercial matters at… more

Arbitration, Commercial Court, Commercial Litigation, Dispute Resolution, Germany

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Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true… more

Investment, Investors, Japan, Limited Partnerships, Partnerships

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the… more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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The Rise of the Global Capability Center: Key Considerations

Interest in offshore business centers, commonly known as global capability centers (GCCs), continues to rise as US companies across industries look to establish overseas offices and hire skilled workers to support critical… more

Business Entities, Contract Terms, Employment Contract, Foreign Investment, India

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The Latest Trends in Moving ERP Systems to the Cloud

According to Forbes, “in 2025, the landscape of enterprise resource planning (ERP) is set for a thrilling transformation,” with a shift toward cloud-native ERP solutions at the top of the list… more

Cloud Computing, Contract Negotiations, Contract Terms, Cybersecurity, Data Management

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A 2025 Update on Utility-Scale Energy Storage Procurements

While the energy storage market continues to rapidly expand, fueled by record-low battery costs and robust policy support, challenges still loom on the horizon—tariffs, shifting tax incentives, and supply chain uncertainties… more

Batteries, Department of Energy (DOE), Energy Policy, Energy Storage, Inflation Reduction Act (IRA)

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‘America’s AI Action Plan’: Implications for Data Center Expansion

Our Morgan Lewis colleagues recently wrote on the US administration’s new artificial intelligence action plan, specifically as the plan seeks to foster innovation and expedite the development of AI data centers and the necessary… more

Artificial Intelligence, Biden Administration, Data Centers, Energy Policy, Environmental Policies

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

See all updates »

DOJ Officials Commit to Aggressive FCA Enforcement, Signal Its Value and Direction

In remarks delivered at the Federal Bar Association’s (FBA) annual Qui Tam Section Conference, Deputy Assistant Attorney General Michael Granston reiterated the US Department of Justice’s (DOJ or the Department) commitment to… more

Coronavirus/COVID-19, Cybersecurity, Department of Justice (DOJ), Enforcement Actions, False Claims Act (FCA)

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Strategy Considerations for Companies Assessing Risks of Fraud Liability for DEI Programs

On May 19, 2025, the US Department of Justice announced the establishment of the Civil Rights Fraud Initiative, which will “utilize the False Claims Act to investigate and, as appropriate, pursue claims against any recipient of… more

Contract Terms, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), Educational Institutions, Employment Discrimination

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DOJ Announces New Corporate Enforcement Policies

The US Department of Justice on May 12, 2025 announced revisions to the Criminal Division’s “enforcement priorities and policies for prosecuting corporate and white-collar crimes” under the current US administration. The new… more

China, Department of Justice (DOJ), Enforcement Actions, Enforcement Priorities, Financial Crimes

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Securities Enforcement Roundup – July 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from July 2025. In July 2025: As part of its FINRA Forward program, FINRA CEO Robert Cook announced a new… more

Administrative Procedure Act, Appeals, Broker-Dealer, Conflicts of Interest, Cryptoassets

See all updates »

NRC Finalizes FY 2025 Fee Rule with Significant Break for Advanced Reactor Applicants

The US Nuclear Regulatory Commission (NRC) recently issued a final rule amending the licensing, inspection, special project, and annual fees for applicants and licensees for FY 2025, aligning with fee-related provisions in both… more

Clean Energy, Energy Policy, Energy Projects, Fees, Final Rules

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Securities Enforcement Roundup – February 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from February 2025. In February 2025: The US Securities and Exchange Commission (SEC) announced a new… more

Climate Change, Cryptocurrency, Cybersecurity, Digital Assets, Disclosure Requirements

See all updates »

EU Competition Authorities Escalate Enforcement of No-Poach Agreements

The French Competition Authority recently fined several companies for no-poach agreements, following similar action by the European Commission in the online food delivery sector. These decisions mark a sharp escalation in labor… more

Acquisitions, Antitrust Provisions, Competition, Employee Rights, Employment Contract

See all updates »

Sudden Termination of European and International Established Commercial Relations: Overview of Claiming Compensation in France

The sudden termination of a business relationship between a French company and a foreign company may lead to compensation being awarded to the company that has suffered the termination. However, in an international or European… more

Breach of Contract, Commercial Litigation, Contract Disputes, Contract Termination, Dispute Resolution

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Kazakhstan Amends Rules for Organizing a "One-Stop Shop" for Investors and the Procedure for Interaction in Attracting Investments

As part of its October 2024 Concept of Investment Policy of the Republic of Kazakhstan, on December 31, 2024, the acting minister of foreign affairs of the Republic of Kazakhstan issued Order No. 11-1-4/746 (the Order) amending… more

Financial Services Industry, Investment, Investors, Kazakhstan

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English High Court Confirms Enforceability of Termination Sum Provisions in JOLCO Structures

The English High Court has confirmed the enforceability of provisions providing for significant termination payments from a defaulting airline following the termination of an aircraft leasing arrangement using a JOLCO Structure… more

Aviation Industry, Commercial Litigation, Contract Disputes, Financial Contracts, Liquidated Damages

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EU General Court Affirms English Trade Marks Must Pass A1–A2 Bar

In Karneolis LTD v. EU Intellectual Property Office and Match Group LLC,[1] the EU General Court ruled in favour of Match Group LLC, the dating app conglomerate that owns and operates, among others, Tinder, Hinge, and OkCupid,… more

Descriptive Trademarks, EU, European Union Intellectual Property Office (EUIPO), Intellectual Property Protection, Jurisdiction

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Federal Circuit Clarifies Secret Prior Art May Be Used in IPR Challenges

On January 14, 2025, the Federal Circuit in Lynk Labs Inc. v. Samsung Electronics Co. Ltd. clarified that inter partes review challenges may be “based upon published patent applications, and such published patent applications… more

America Invents Act, Intellectual Property Litigation, Inter Partes Review (IPR) Proceeding, Patent Applications, Patents

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Massachusetts Provides Guidance for Phases II–IV of Reopening Plan

Massachusetts is beginning to prepare for the next phase of its four-phase reopening plan. On June 1 Governor Charlie Baker issued an order allowing Phase II businesses to open their locations to workers to prepare for… more

Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities, Hospitality Industry, Re-Opening Guidelines

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US Supreme Court Considers Whether Classes with Uninjured Members Can Be Certified

The US Supreme Court held oral arguments in Laboratory Corporation of America Holdings d/b/a Labcorp v. Davis, et al. to consider the issue of whether a federal court can certify a class when some of the members of the proposed… more

Americans with Disabilities Act (ADA), Appeals, Article III, Class Action, Class Certification

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Trade Secrets in the Automotive Industry

As recent innovations in automotive technology continue to fuel unprecedented growth across the industry, companies must adapt their privacy and confidentiality capabilities to safeguard highly valuable trade secrets. With… more

Automotive Industry, Best Practices, Confidential Information, Data Security, Defend Trade Secrets Act (DTSA)

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Just Passed: Senate Bill Significantly Amends Delaware General Corporation Law

On March 25, 2025, Senate Bill 21, which significantly amends the Delaware General Corporation Law (DGCL), passed the Delaware General Assembly and was signed into law by Governor Matt Meyer… more

Board of Directors, Books & Records, Controlling Stockholders, Corporate Governance, Delaware General Corporation Law

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ILPA Issues Guidance on Net Asset Value–Based Credit Facilities

The Institutional Limited Partners Association (ILPA) has released new guidance for limited partners (LPs) and general partners (GPs) on net asset value–based facilities (NAV Facilities). NAV-based lending, a type of financing… more

General Partnerships, Institutional Limited Partners Association (ILPA), Limited Partnership Agreements, Limited Partnerships

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IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

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Venture Philanthropy More Important Than Ever for Rare Disease Care

Private foundations providing support, resources, and advocacy for individuals and families affected by rare diseases have played an important role for more than 30 years in the advancement of treatments for rare diseases. Much… more

Healthcare, Internal Revenue Code (IRC), Investment, IRS, Life Sciences

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Staying Ahead of State Attorneys General Enforcement Trends

As federal enforcement and regulatory actions evolve under the current administration, state attorneys general (State AGs) are taking an active role in responding to the changes, with support or challenges in alignment with… more

Antitrust Violations, Artificial Intelligence, Consumer Protection Laws, Enforcement Actions, Environmental Policies

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Procrastinators Rejoice Part II: IRS Extends CARES Act Amendment Deadlines for Loan Relief and COVID-19-Related Distributions

As described in our prior blog post, the US Internal Revenue Service (IRS) recently extended many impending amendment deadlines for legislative changes made by the Setting Every Community Up for Retirement Enhancement Act of… more

Benefit Plan Sponsors, CARES Act, Employee Benefits, Individual Retirement Account (IRA), IRS

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Ninth Circuit Exempts Relators from Ban on Customs-Based FCA Actions

In a recent decision, the US Court of Appeals for the Ninth Circuit determined that its decades-long ban on customs-based False Claims Act actions does not apply to qui tam relator actions. The decision leaves the ban in place… more

Appeals, False Claims Act (FCA), Jurisdiction, Qui Tam, Relators

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

See all updates »

'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

See all updates »

New York’s DOL Publishes New Guidance, FAQs on Retail Workers Safety Act

Just days before the Retail Worker Safety Act took effect on June 2, 2025, the New York State Department of Labor issued guidance, model training, and a sample policy to assist covered employers with compliance. The act, signed… more

Employee Training, Employer Responsibilities, New Guidance, New Legislation, New York

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California's New PAGA Bill: Key Changes and Implications for Employers

The State of California significantly overhauled the Labor Code Private Attorneys General Act of 2004 (PAGA) with the recent enactment of Assembly Bill 2288 and Senate Bill 92. This LawFlash summarizes some of the key provisions… more

Employer Liability Issues, Labor Code, Private Attorneys General Act (PAGA), State Labor Laws, Wage and Hour

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New Executive Order Aims to Reshape Athlete Pay, Fair Access & College Sports Revenue Models

President Donald Trump on July 24, 2025 issued an executive order titled “Saving College Sports.” This order, which follows recent significant changes to compensation rules and limitations in the collegiate sports landscape,… more

Compensation, Executive Orders, NCAA, Sports, Student Athletes

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Federal Circuit Clarifies Proper Double-Patenting Reference

In Allergan USA v. MSN Labs, the US Court of Appeals for the Federal Circuit held, that later-filed, later-issued claims cannot serve as proper reference for invalidating earlier-filed, earlier-issued claims having the same… more

Double Patent, Intellectual Property Protection, Obviousness, Patent Expiration, Patent Litigation

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IP and Commercial Contract Litigation Developments and Trends: What Transactional Lawyers Should Know

As part of our Spotlight series, we invited litigation partners Dana E. Becker (Philadelphia), Shon Lo (Chicago), and Krista Vink Venegas, Ph.D. (Chicago), to talk about recent trends and issues in IP-related and other… more

Commercial Contracts, Contract Drafting, Contract Terms, IP License, Non-Disclosure Agreement

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German Federal Labor Court Strengthens Employee Rights for Virtual Stock Options upon Employment Termination - Legal Insights Germany

In its ruling dated March 19, 2025, the German Federal Labor Court (BAG)—in contrast to the two previous instances and contrary to its previous case law—deemed an expiry clause in general terms and conditions to be unreasonably… more

Appeals, Contract Terms, Corporate Governance, Employee Benefits, Employee Rights

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California Increases Paid Sick Leave Entitlements

Governor Gavin Newsom recently signed SB 616, which amends California’s Healthy Workplaces, Healthy Families Act of 2014 by increasing the amount of paid sick leave employers must provide to eligible California employees… more

Employer Liability Issues, Paid Leave, Sick Leave, State Labor Laws, Wage and Hour

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California Governor Vetoes AI Safety Bill SB 1047, Signs AB 2013 Requiring Generative AI Transparency

California Governor Gavin Newsom on September 29, 2024 vetoed a bill imposing new AI safety regulations, while approving a law mandating transparency in generative AI. This update explores the implications for developers and the… more

Artificial Intelligence, California, Governor Newsom, Governor Vetoes, Machine Learning

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Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative… more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

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New Jersey Passes Pay Transparency Law

On November 18, 2024, New Jersey Governor Phil Murphy signed into law SB2310, which will require employers with 10 or more employees to disclose certain compensation and benefit information in job advertisements. The law will go… more

Employer Liability Issues, Job Applicants, Pay Transparency, State Labor Laws, Wage and Hour

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected… more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

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DEI and Best Practices in Corporate America: Harvard/UNC One Year Later

All eyes were on the US Supreme Court in June 2023 as the justices were poised to issue their decision in Students for Fair Admissions v. Harvard & UNC. As colleges and universities awaited the decision and wondered what it… more

Best Practices, College Admissions, Diversity, Diversity and Inclusion Standards (D&I), Educational Institutions

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

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Navigating Change: Innovation, Policy, and Market Shifts in the Automotive Industry

The automotive industry is undergoing a period of rapid transformation, driven by advancements in electric vehicle (EV) technology, artificial intelligence (AI), and digital connectivity amid shifting trade policies and evolving… more

Artificial Intelligence, Automotive Industry, Electric Vehicles, Innovation, Regulatory Requirements

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DOJ’s Rescission of Longstanding Guidance Creates Uncertainty for Market Benchmarking Activities

The US Department of Justice (DOJ) Antitrust Division is withdrawing three enforcement policy statements that provided important guidance on the exchange of competitively sensitive information through third parties. The guidance… more

Antitrust Division, Antitrust Provisions, Competition, Department of Justice (DOJ), Enforcement Actions

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Reinforcing Ethics and Oversight in Corporate Governance: Essentials for Public Companies

In an environment where public scrutiny is high and enforcement expectations are rising, investing in strong corporate ethics and oversight frameworks has become a strategic necessity for public companies. Effective compliance… more

Board of Directors, Corporate Governance, Form 8-K, Listing Rules, Publicly-Traded Companies

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FDA’s Shifting Stance on Public Disclosure of NDA and BLA Complete Response Letters – How Far Will It Go?

The US Food and Drug Administration has announced a renewed focus on a long-considered issue—whether FDA should release complete response letters (CRLs) issued to drug or biologic applicants. Specifically, on July 10, 2025 FDA… more

Biosimilars, Disclosure Requirements, FDA Approval, Food and Drug Administration (FDA), Pharmaceutical Industry

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What’s New in the NVCA Model Legal Documents—And What’s Next?

The National Venture Capital Association’s model legal documents are industry-standard venture capital financing documents that act as a baseline for emerging and venture capital companies, consisting of the certificate of… more

Delaware General Corporation Law, Investors, Purchase Agreement, Venture Capital

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California Employers: New Law Limits NDAs in Settlement & Severance Agreements

California Governor Gavin Newsom on October 7 signed Senate Bill 331, which will prohibit employers from (1) including in a settlement agreement a clause that restricts an employee’s right to disclose information about… more

Cal Code of Civil Procedure, Confidential Information, Employer Liability Issues, Governor Newsom, Hiring & Firing

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DOE Issues Update to Consent-Based Site Process for Spent Nuclear Fuel

The US Department of Energy’s Office of Nuclear Energy recently issued an update to its “road map for implementing a consent-based siting process” to site one or more federal interim storage facilities for spent nuclear fuel… more

Department of Energy (DOE), Electricity, Energy Policy, Energy Sector, Energy Storage

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Blockbuster Biologics Review | Issue 27

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to… more

Biosimilars, Intellectual Property Litigation, Inter Partes Review (IPR) Proceeding, New Legislation, Patent Litigation

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Indian Aviation and Cape Town: Part II

In Part I of this series, we explored the historical landscape that led to significant regulatory development in Indian aviation and the passage of the Protection of Interest in Aircraft Objects Bill, 2025. In Part II, we take a… more

Aircraft Financing, Aviation Industry, Cape Town Convention, Creditors, India

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FDA’s New Priority Voucher Program for Drug Developers Ties Incentives to Defined National Interests

The US Food and Drug Administration recently announced the launch of a regulatory incentive program pilot program, the Commissioner’s National Priority Voucher Program (CNPVP), designed to reward drug and biologic sponsors that… more

Biologics, Food and Drug Administration (FDA), Investigational New Drug Application (IND), Life Sciences, Manufacturers

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Lanham Act Only Extends to Claims Stemming from US Conduct that Causes a Likelihood of Confusion

The US Supreme Court unanimously overturned a $90 million verdict for trademark infringement under the Lanham Act, 97% of which was attributed to purely extraterritorial conduct. While the holding attempts to draw a bright-line… more

Abitron Austria GmbH v Hetronic International Inc, Extraterritoriality Rules, Foreign Sales, Intellectual Property Protection, Lanham Act

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California Supreme Court Shuts Down Consumer Sales Tax Suit

Dear Retail Clients and Friends: The California Supreme Court recently ruled that consumers cannot file suit to force a retailer to seek a refund of sales taxes from the California tax agency absent a determination by the… more

CA Supreme Court, Retailers, Sales Tax

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France Attracts Major Data Center Investment: A Legal Framework Overview

Several major data center projects were announced at this year’s “Choose France” summit, which comes on the heels of the announcement of a €109 billion investment at the 2025 Artificial Intelligence Action Summit in Paris. While… more

Data Centers, Energy Policy, Environmental Policies, France, Investment

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SEC Requests Public Comment on Changes to the Definition of ‘Foreign Private Issuer’

On June 4, 2025, the US Securities and Exchange Commission published a concept release to solicit comments on whether and how the definition of “foreign private issuer” (FPI) should be changed. As a result of recent developments… more

Capital Markets, China, Disclosure Requirements, Foreign Private Issuers, Proposed Amendments

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Appellate Court Holds Servicers Can Set Aside Litigation Reserves

The Minnesota Court of Appeals affirmed in a recent case that the securitization agreements at issue authorized the creation of reserves to ensure that the securitization trust could meet its contractual obligation to indemnify… more

Appeals, Indemnification, Investors, Securitization

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OSHA, Employment, and Antitrust: New Compliance Strategies for Grocery Industry Companies

Recent labor law, workplace safety regulation, and antitrust enforcement developments are creating an increasingly complex regulatory landscape for grocery industry employers. Companies must navigate an array of compliance… more

Fair Workweek, OSHA, Wage and Hour, Work Schedules, Workplace Safety

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Balancing Leasing Acquisition and Environmental Risk in Data Center Projects

Buoyed by robust demand for large parcels of undeveloped land, the rise of artificial intelligence workloads, and the game-changing role that hyperscalers are playing, the real estate market for data centers is in a strong… more

Acquisition Agreements, Commercial Leases, Commercial Real Estate Market, Data Centers, Due Diligence

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Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

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

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IRS Issues Important Reminder on Application of IRC Section 415(c) Limit to 403(b) Plans

The Internal Revenue Service (IRS) issued an important reminder of the unique application of the limit under Internal Revenue Code (IRC) Section 415(c) to 403(b) plans on August 20, 2021. The IRS’s “Issue Snapshot” highlighted a… more

403(b) Plans, Benefit Plan Sponsors, Compensation & Benefits, Defined Contribution Plans, Employee Benefits

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Congress Codifies SEC Staff's M&A Broker No-Action Letter ... With a Tweak

As many are aware, Congress passed its own version of the US Securities and Exchange Commission (SEC) staff’s mergers and acquisitions (M&A) broker no-action letter in December 2022, creating a new exemption from broker… more

Broker-Dealer, Brokers, EBITDA, Investment Adviser, No-Action Letters

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Just Passed: Senate Bill Significantly Amends Delaware General Corporation Law

On March 25, 2025, Senate Bill 21, which significantly amends the Delaware General Corporation Law (DGCL), passed the Delaware General Assembly and was signed into law by Governor Matt Meyer… more

Board of Directors, Books & Records, Controlling Stockholders, Corporate Governance, Delaware General Corporation Law

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The DC Circuit Affirms the FCC’s Open Internet Rules

The court upholds the FCC’s authority to regulate internet access services as telecommunications carriers and impose restrictions on blocking and throttling internet content… more

Broadband, FCC, Free Speech, Internet, Internet Service Providers (ISPs)

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Increase in USERRA Issues Likely to Continue in 2025 and Beyond

Uniformed Services Employment and Reemployment Rights Act of 1994 issues are almost certain to increase under the incoming Trump-Vance administration, which has promised greater border enforcement and signaled that the National… more

Employer Liability Issues, Employment Policies, Military Leave, Military Service Members, USERRA

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Securities Enforcement Roundup – July 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from July 2025. In July 2025: As part of its FINRA Forward program, FINRA CEO Robert Cook announced a new… more

Administrative Procedure Act, Appeals, Broker-Dealer, Conflicts of Interest, Cryptoassets

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DOJ Issues Guidance for Recipients of Federal Funding Regarding Unlawful Discrimination

The US Department of Justice released new guidance for recipients of federal funding on July 29, 2025 intended to “clarif[y] the application of federal antidiscrimination laws to programs or initiatives that may involve… more

Anti-Discrimination Policies, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), False Claims Act (FCA), Federal Funding

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Assessing Your Health Plan’s Service Provider Compensation

Based on new ERISA disclosure rules, now is a good time to review the compensation paid to your health plan’s consultant and broker. ERISA Section 408(b)(2)(B) requires brokers and consultants expecting $1,000 or more in direct… more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

See all updates »

The DC Circuit Affirms the FCC’s Open Internet Rules

The court upholds the FCC’s authority to regulate internet access services as telecommunications carriers and impose restrictions on blocking and throttling internet content… more

Broadband, FCC, Free Speech, Internet, Internet Service Providers (ISPs)

See all updates »

What’s New in the NVCA Model Legal Documents—And What’s Next?

The National Venture Capital Association’s model legal documents are industry-standard venture capital financing documents that act as a baseline for emerging and venture capital companies, consisting of the certificate of… more

Delaware General Corporation Law, Investors, Purchase Agreement, Venture Capital

See all updates »

‘Unimpairment’ Under Chapter 11: More Than Just a Non-Word

It begins with an awkward mouthful. Outside a bankruptcy brief, is “unimpairment” even a word? (No, per Merriam-Webster.) Inside Chapter 11, it’s much more: a trend… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors

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One Big Beautiful Bill: Impact on Welfare Benefits

President Donald Trump signed the One Big Beautiful Bill (OBBB) into law on July 4, 2025. The OBBB is a wide-ranging piece of legislation that introduces significant reforms across multiple areas of federal policy, including… more

Dependent Care, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, HDHP

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Need for Action: Employment of Freelance Teachers

On June 28, 2022, the Federal Social Court (BSG) ruled on the employment of a music teacher (case reference: B 12 R 3/20 R). The teacher was deployed as a "freelance" teacher at a music school in Herrenberg and received a fee… more

Employer Liability Issues, Independent Contractors, Social Security, Teachers

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Final Treasury Regulations Published on Transition from IBORs to Qualified Rates

The Internal Revenue Service and the US Treasury Department have issued final regulations providing rules for taxpayers transitioning from interbank offered rates to qualified rates. These regulations provide financial… more

Banking Sector, FATCA, Final Rules, Financial Conduct Authority (FCA), Financial Institutions

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CFPB Finalizes Qualified Mortgage Changes

The Consumer Financial Protection Bureau (Bureau or CFPB) issued two final rules on December 10 with significant implications for the mortgage marketplace. Of the two final rules from the Bureau, one drastically simplifies the… more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Regulatory Reform, Financial Services Industry

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California Supreme Court Confirms There is a Good Faith Defense to Wage Statement Penalties

The California Supreme Court recently issued its opinion in Naranjo v. Spectrum Security Services Inc., resolving a split of authority in California state and federal courts whether there is a “good faith” defense to claims… more

CA Supreme Court, Employer Liability Issues, Labor Code, Wage and Hour, Wage Statements

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UK Arbitration Act 2025 to Enter Into Force on 1 August

The substantive reforms contained within the Arbitration Act 2025, which received Royal Assent on 24 February, will come into full force on 1 August 2025. The reforms will apply to all English-seated arbitrations commenced on or… more

Arbitration, Arbitration Agreements, Arbitration Awards, Arbitration Procedural Rules, Corporate Counsel

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EU General Court Affirms English Trade Marks Must Pass A1–A2 Bar

In Karneolis LTD v. EU Intellectual Property Office and Match Group LLC,[1] the EU General Court ruled in favour of Match Group LLC, the dating app conglomerate that owns and operates, among others, Tinder, Hinge, and OkCupid,… more

Descriptive Trademarks, EU, European Union Intellectual Property Office (EUIPO), Intellectual Property Protection, Jurisdiction

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Unemployment Benefits in the CARES Act

The Relief for Workers Affected by Coronavirus Act (Act), part of the Coronavirus Aid, Relief, and Economic Security Act—known as the CARES Act—provides enhanced unemployment payments for workers traditionally eligible for… more

CARES Act, Coronavirus/COVID-19, Financial Stimulus, Relief Measures, Unemployment Benefits

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ICE Enforcement Actions: Understanding Employers’ Rights and Obligations

In the past two weeks, the landscape of immigration enforcement in the United States has seen a significant shift. President Donald Trump’s executive orders have greatly impacted both employers and foreign workers across… more

Department of Homeland Security (DHS), Employee Rights, Employer Liability Issues, Enforcement Actions, Foreign Workers

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E-Money Tokens: European Banking Authority Clarifies PSD2-MiCA Interplay – Implications for CASPs

Barely a year after the entry into application of MiCA, the European Banking Authority published a "No-Action Letter" aimed at securing the applicable regime for cryptoasset service providers operating in relation to e-money… more

Blockchain, Cryptocurrency, Digital Assets, E-Money, EU

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16 States Challenge Gender-Affirming Care EO as DOJ Scrutinizes Hospitals, Doctors, and Pharma Manufacturers

On August 1, 2025, 16 state attorneys general filed a complaint in federal court in Massachusetts against the US administration seeking a declaratory judgment that President Trump’s January 28, 2025 Executive Order 14187,… more

Constitutional Challenges, Department of Health and Human Services (HHS), Department of Justice (DOJ), Executive Orders, False Claims Act (FCA)

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DOL Issues Temporary Enforcement Policy for Small Amount Transfers to State Unclaimed Property Funds

The US Department of Labor recently issued Field Assistance Bulletin (FAB) 2025-01, a temporary enforcement policy regarding the transfer of small retirement plan benefits to state unclaimed property funds. This development is… more

401k, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

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Current Developments in SEC Enforcement for Public Companies 2024

The US Securities and Exchange Commission (SEC) continued its significant focus on public companies in 2023 with its enforcement and rulemaking programs, and this heightened level of attention will continue throughout 2024… more

10b5-1 Plans, Disclosure Requirements, Insider Trading, Securities Act of 1933, Securities and Exchange Commission (SEC)

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Increased Penalties and Faster Enforcement Potential Changes to the DOLs Form 5500 Penalty Program

Recently, we have become aware of what appears to be a new approach in the US Department of Labor’s (DOL’s) Form 5500 Annual Report (Form 5500) penalty program, including increased penalties and faster enforcement actions. This… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Form 5500

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DOJ Deputy Attorney General Pledges New Approach to Corporate Crime

Deputy Attorney General Lisa Monaco described important changes to the Department of Justice’s corporate criminal enforcement policies during her October 28, 2021 keynote address to the ABA’s 36th National Institute on White… more

Corporate Crimes, Criminal Investigations, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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Indian Aviation and Cape Town: Part II

In Part I of this series, we explored the historical landscape that led to significant regulatory development in Indian aviation and the passage of the Protection of Interest in Aircraft Objects Bill, 2025. In Part II, we take a… more

Aircraft Financing, Aviation Industry, Cape Town Convention, Creditors, India

See all updates »

New York State Senate Introduces Bill that Would Ban Non-Compete Agreements

At the end of the 2023 New York legislative session, Senator Paul Ryan introduced a bill to broadly ban non-compete agreements in the state. While the bill passed the New York State Senate and Assembly, Governor Kathy Hochul… more

Employee Rights, Employment Contract, Employment Litigation, New Legislation, New York

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Securities Enforcement Roundup – April 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from April 2025. In April 2025: Crypto Enforcement Activity and Developments… more

Cryptocurrency, Digital Assets, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Regulatory Reform

See all updates »

'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

See all updates »

US Administration Rolls Out ‘America’s AI Action Plan’

On July 23, 2025, the White House released “Winning the Race: America’s AI Action Plan,” encompassing more than 90 federal policy actions and outlining the administration’s comprehensive and aggressive approach to securing US… more

Artificial Intelligence, Biden Administration, China, Export Controls, Infrastructure

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Retail Did You Know? CARES Act Provides Important Relief for Retail & Hospitality Companies

Dear Retail Clients and Friends, This edition of Morgan Lewis Retail Did You Know? examines how the Coronavirus Aid, Relief, and Economic Security (CARES) Act impacts companies in the retail and hospitality sector… more

Business Closures, CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus

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Influencer Marketing Class Actions on the Rise: Common Themes & Key Takeaways

A wave of class action lawsuits targeting influencer marketing practices has emerged in the first half of 2025, signaling what could be a popular trend in consumer class action litigation. With demands for substantial monetary… more

Class Action, Corporate Counsel, Damages, Disclosure Requirements, False Advertising

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2019 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2019, post-grant proceedings have been in use for seven years. Designed as an alternative to district court litigation, post-grant proceedings have offered litigants a faster and more cost-effective forum for resolving… more

Claim Construction, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board, Patents, Post-Grant Review

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OSHA’s Aggressive Deregulatory Efforts Begin

The Occupational Safety and Health Administration (OSHA) has begun what the US Department of Labor describes as “aggressive deregulatory efforts” to “put American workers and job creators first.” In response to President Donald… more

Construction Industry, Deregulation, Executive Orders, Federal Register, General Duty Clause

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Football Governance Act Passes into Law, Establishing Independent Football Regulator

The Football Governance Act, introducing a new regulatory framework and independent football regulator for the top five tiers of men’s football in England, has now passed as legislation. This LawFlash sets out some of the final… more

Dispute Resolution, Football, Governance Standards, New Legislation, Regulatory Authority

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Football Governance Act Passes into Law, Establishing Independent Football Regulator

The Football Governance Act, introducing a new regulatory framework and independent football regulator for the top five tiers of men’s football in England, has now passed as legislation. This LawFlash sets out some of the final… more

Dispute Resolution, Football, Governance Standards, New Legislation, Regulatory Authority

See all updates »

DOL’s VFCP Final Rule Adds Limited ‘Self-Correction’ Program for Late Contributions, Participant Loan Failures

The Employee Benefits Security Administration recently released its final rule amending and restating the Voluntary Fiduciary Correction Program, along with corresponding amendments to a related class exemption, Prohibited… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Final Rules

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SEC Requests Public Comment on Changes to the Definition of ‘Foreign Private Issuer’

On June 4, 2025, the US Securities and Exchange Commission published a concept release to solicit comments on whether and how the definition of “foreign private issuer” (FPI) should be changed. As a result of recent developments… more

Capital Markets, China, Disclosure Requirements, Foreign Private Issuers, Proposed Amendments

See all updates »

NLRB Returns to “Clear and Unmistakable Waiver” Test for Assessing Employer Unilateral Changes

In Endurance Environmental Solutions, the National Labor Relations Board returned to the “clear and unmistakable waiver” standard for determining whether an employer may make changes to terms and conditions of employment while a… more

Collective Bargaining, Collective Bargaining Agreements (CBA), Employer Liability Issues, Labor Relations, NLRA

See all updates »

'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

See all updates »

DOJ FCPA Declination Points to Continuation of Policies and Importance of Robust Compliance

An August 7, 2025 declination agreement published by the US Department of Justice’s (DOJ’s) Fraud Section—and the first bribery DOJ resolution of President Trump’s second term—provides initial insights into declinations under… more

Anti-Corruption, Bribery, Corporate Counsel, Corporate Crimes, Criminal Investigations

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

See all updates »

EPA Kicks the Tires on Stricter Passenger Car Tailpipe Emission Standards

The proposed emissions requirements would be phased in over model years 2027 through 2032, drastically accelerating the nationwide transition to zero-emission vehicles (ZEVs) consistent with the Biden administration’s commitment… more

Automotive Industry, Biden Administration, Electric Vehicles, Environmental Protection Agency (EPA), Executive Orders

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Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative… more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

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US Department of Labor Rolls Back Biden-Era FLSA Practices

The US Department of Labor has recently rolled back two critical Biden-era wage and hour practices. First, the DOL has stated that it will no longer enforce the 2024 Final Rule’s framework for determining employee or independent… more

Biden Administration, Department of Labor (DOL), Enforcement Actions, Fair Labor Standards Act (FLSA), Independent Contractors

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Need for Action: Employment of Freelance Teachers

On June 28, 2022, the Federal Social Court (BSG) ruled on the employment of a music teacher (case reference: B 12 R 3/20 R). The teacher was deployed as a "freelance" teacher at a music school in Herrenberg and received a fee… more

Employer Liability Issues, Independent Contractors, Social Security, Teachers

See all updates »

Trump’s Second-Term Tariff Agenda: Importers’ Tools for Addressing Tariffs

In this second installment of our four-part trade series, we consider strategies importers may adopt for addressing anticipated tariffs imposed under the Trump-Vance administration. As we draw closer to President-elect Donald… more

Classification, Compliance, Customs and Border Protection, Importers, Risk Management

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IP Protection in Digital Transformation Agreements, A French Perspective: Insights from Mathilde Carle

We are excited to welcome Mathilde Carle as a partner in Morgan Lewis’s Paris office and as a guest contributor to our Tech & Sourcing Spotlight series to discuss intellectual property (IP) protection and other related issues in… more

Contract Terms, Copyright, Data Privacy, Data Protection, France

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Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 3—Impact on Mergers and Acquisitions

This is the third part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC), banning the enforcement of almost all noncompete… more

Acquisitions, Employee Benefits, Employer Liability Issues, Employment Contract, Executive Compensation

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EU Update: EES and ETIAS Implementation Timelines - Phased Rollout Confirmed

The European Union has provided updated guidance on the phased implementation of its long-anticipated Entry/Exit System (EES) and the European Travel Information and Authorisation System (ETIAS), both of which form part of a… more

Employer Responsibilities, EU, Immigration Procedures, International Travel, Regulatory Requirements

See all updates »

SEC Adopts New Treasury Clearing Rules

On December 13, 2023, the US Securities and Exchange Commission (SEC) adopted rule amendments (Treasury Clearing Rules) designed to improve risk management in clearance and settlement and to facilitate additional central… more

Broker-Dealer, Financial Institutions, Risk Management, Securities and Exchange Commission (SEC), Securities Exchange Act

See all updates »

New FASB Standards Mandate Disclosure of Reverse Factoring Programs

Due to new standards issued by the Financial Accounting Standards Board (FASB) in late 2022, companies with supply chain financing are now required to comply with additional disclosures intended to monitor and understand the… more

Accounting Standards, FASB, Financial Accounting, Financial Reporting, Financial Statements

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DOJ Announces First FCA Settlement with Medical Device Company for Cybersecurity Violations

The US Department of Justice’s settlement with Illumina, Inc. is a first-of-its-kind involving alleged cybersecurity deficiencies causing violations of the False Claims Act (FCA) based on FDA quality standards. The cybersecurity… more

Cybersecurity, Department of Justice (DOJ), Digital Health, Enforcement Actions, False Claims Act (FCA)

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Institutional Shifts in College Sports: Private Equity, Athlete Pay, and Legal Risk

College sports are undergoing a seismic shift as commercial activity accelerates and athlete compensation evolves. With the approval of the House vs. NCAA settlement and a surge in private investment, the traditional model of… more

Antitrust Provisions, College Athletes, Compliance, Investment, Name and Likeness

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Corporate Transparency Act: Beneficial Ownership Reporting Requirements for Small, Medium Businesses Effective Jan. 1

The Financial Crimes Enforcement Network’s final rule implementing the Corporate Transparency Act’s beneficial ownership information reporting requirements will become effective on January 1, 2024. Small and medium businesses… more

Anti-Money Laundering, Beneficial Owner, Corporate Transparency Act, Financial Crimes, FinCEN

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Florida’s New CHOICE Act Authorizes Garden Leave, Makes 4-Year Noncompete Agreements Easier to Enforce

The Florida House and Senate recently passed the Contracts Honoring Opportunity, Investment, Confidentiality, and Economic Growth (CHOICE) Act by an overwhelming majority. The CHOICE Act will substantially reshape Florida… more

Contract Terms, Employee Rights, Employer Responsibilities, Employment Contract, Florida

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Securities Enforcement Roundup – May 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from May 2025. In May 2025: More ongoing developments in the crypto enforcement area at the US… more

Cryptocurrency, Digital Assets, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investors

See all updates »

Delaware Fully Embraces Captive Insurance as an Option to Protect Directors and Officers

Delaware amended its Corporation Law (Section 145(g)) to expressly permit the use of captive insurance to protect directors and officers, including from claims for which indemnification is prohibited, joining many other key… more

Board of Directors, Captive Insurance Company, Corporate Officers, D&O Insurance, Delaware General Corporation Law

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding… more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

See all updates »

US Supreme Court Expands the Scope of Employment Decisions That Can Support Title VII Claims

The US Supreme Court ruled on April 17 that any “disadvantageous” change in the “terms and conditions” of employment that is based on race, gender, or another protected characteristic is actionable under Title VII, even if the… more

Civil Rights Act, Employee Transfers, Employer Liability Issues, Employment Litigation, Muldrow v City of St Louis

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Exploring the Legal Frontier of Space and Satellite Innovation

For companies in the aerospace and defense industry, the future of space innovation involves far more than rockets and satellites. Intellectual property, technology transfers, data privacy, and life sciences are among the fields… more

Data Privacy, Export Controls, FCC, Government Agencies, Intellectual Property Protection

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New Jersey Enacts First-of-Its-Kind Temporary Workers’ Bill of Rights

New Jersey Governor Phil Murphy recently signed into law the Temporary Workers’ Bill of Rights, which is the first law in the nation to require equal pay for temporary workers. Under the law, employers must pay temporary workers… more

Corporate Counsel, Employer Liability Issues, Governor Murphy, Staffing Agencies, State Labor Laws

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‘Mini-HSR’ Acts Take Effect in Washington and Colorado, with Similar Legislation Pending in Other States

Colorado and Washington state recently became the first states to adopt their own smaller versions of the Hart-Scott-Rodino Antitrust Improvements (HSR) Act. These “mini-HSR” state laws require certain parties that submit… more

Antitrust Provisions, Filing Requirements, Hart-Scott-Rodino Act, Merger Controls, Merger Reviews

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Main Street Lending Program (UPDATED)

This White Paper gives a broad understanding of the terms and implications of the Main Street Lending Program by delving into the key questions market participants are likely to have and addressing the latest changes implemented… more

Coronavirus/COVID-19, FRB, Main Street Lending Programs, Main Street New Loan Facility, Relief Measures

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The eData Guide to GDPR: Anonymization and Pseudonymization Under the GDPR

The EU General Data Protection Regulation (GDPR) regulates the use of personal data collected from European data subjects, including activities of non-European companies that target or process European data subject personal… more

Anonymization, Cybersecurity, Data Protection, EU, General Data Protection Regulation (GDPR)

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AVIA Publishes Federal Policy Framework for Autonomous Vehicles

The Autonomous Vehicle Industry Association on January 7 released a federal policy framework to accelerate the deployment and commercialization of autonomous vehicle technology and maintain the US leadership role in AV design,… more

Automation Systems, Automotive Industry, Cybersecurity, Data Protection, Driverless Cars

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M&A Considerations Across the Technology Sector

Technology is quickly becoming one of the most active and dynamic sectors for mergers and acquisitions (M&A) in 2025. Despite a macro environment filled with uncertainty, technology deal activity reflects an appetite for growth,… more

Acquisitions, Antitrust Provisions, Artificial Intelligence, Cybersecurity, Data Privacy

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Practical Guidance on Labor and Employment Issues in a Post-Chevron World

With the US Supreme Court’s June 28 decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, the four-decades Chevron doctrine is no longer. While the Court’s decision has altered administrative… more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Department of Labor (DOL), Equal Employment Opportunity Commission (EEOC)

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TCE Rule Takes Effect but Ultimate Fate Is Still Unknown

The US Environmental Protection Agency’s final rule to regulate trichloroethylene recently went into effect, triggering compliance deadlines for implementing the prohibition and Workplace Chemical Protection Programs even while… more

Environmental Protection Agency (EPA), Final Rules, Hazardous Substances, Judicial Review, Manufacturers

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Washington, DC, Takes Steps to Protect Employees’ Off-Duty Marijuana Use

Washington, DC, City Council unanimously passed a bill on June 7 that would prohibit employers from basing adverse employment actions on an individual’s lawful, off-duty use of marijuana, unless certain exceptions apply. The… more

Adverse Employment Action, Decriminalization of Marijuana, Drug Testing, Employer Liability Issues, Employment Policies

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IP Protection in Digital Transformation Agreements, A French Perspective: Insights from Mathilde Carle

We are excited to welcome Mathilde Carle as a partner in Morgan Lewis’s Paris office and as a guest contributor to our Tech & Sourcing Spotlight series to discuss intellectual property (IP) protection and other related issues in… more

Contract Terms, Copyright, Data Privacy, Data Protection, France

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SEC Proposes Mandatory Swing Pricing for Mutual Funds and Revised Liquidity Requirements

On November 2, 2022, the US Securities and Exchange Commission (SEC), by a 3-2 party line vote, proposed amendments (the Proposal) to the liquidity risk management programs rule (Rule 22e-4) under the Investment Company Act of… more

Investment Company Act of 1940, Investment Management, Liquidity, Liquidity Risk Management Rule, Mutual Funds

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How Early-Stage Life Sciences Companies Can Avoid Potential Legal Missteps Through These Five Key Commercial Agreements

In the early days of a life science company, there can be confusion and a number of landmines where legal missteps may happen. As part of our 2022 Startup & Accelerate Webinar Series, we look at five key commercial agreements… more

Confidential Information, Early Stage Companies, Entrepreneurs, Life Sciences, Master Service Agreement

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UK Adequacy Decision for European Data Transfers

The European Commission has finally approved two decisions  on 28 June granting the United Kingdom the cherished status of having “adequate” data protection laws so that transfers of personal data from the European Union are not… more

Corporate Counsel, Cybersecurity, Data Protection, EU, EU Data Protection Laws

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Key Changes to the Federal Rules Governing Discovery

Important amendments went into effect on December 1. The major changes to the Federal Rules of Civil Procedure that govern discovery in federal cases affect Rules 26, 34, and 37… more

Discovery, Electronically Stored Information, Federal Rules of Civil Procedure, Proportionality, Spoliation

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Schrems II Could Disrupt US Courts’ Common Ground on eDiscovery and Data Transfers from Europe - THE EDATA GUIDE TO GDPR

Schrems II may force companies obligated to produce EU personal data to the task of determining whether to comply with US discovery obligation rules that risk fines under the GDPR for illegal data transfers or to defy the US… more

Corporate Counsel, Court of Justice of the European Union (CJEU), Cybersecurity, Data Protection, EU

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Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three… more

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

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Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three… more

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

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US House of Representatives Holds ‘China Week’ – What Happened and What’s Next?

With federal elections and the conclusion of the 118th Congress drawing near, “China Week,” as dubbed by House leadership, presented one of the final opportunities for the US House of Representatives to act on a variety of… more

CFIUS, Department of Homeland Security (DHS), Department of Justice (DOJ), Export Control Reform Act (ECRA), Export Controls

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From Checkout to Crisis – Subcontractor Risk in Retail Contracts

Today’s retail operations depend on far more than the products on store shelves or the design of an ecommerce site. Behind the scenes, a fulfilment provider may rely on regional couriers, a payment processor on a cloud host, and… more

Contract Management, Contract Terms, Data Protection, Data Security, Liability

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2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,… more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

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Navigating Evolving Cyber Regulations in the United States

Cyber regulations are crucial for the protection of individuals and businesses and aid in risk minimization; failure to comply with these regulations can result in severe consequences such as financial penalties, legal action,… more

Cyber Attacks, Cybersecurity, Data Privacy, Data Security, Disclosure Requirements

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Delaware Supreme Court Raises the Bar on Plaintiffs’ Firms Extracting Fees for Challenges to Advance Notice Bylaws

The Delaware Supreme Court on July 11 partially reversed the Delaware Court of Chancery decision in Kellner v. AIM ImmunoTech, which had held that certain advance notice bylaw provisions were “facially invalid,” holding instead… more

Board of Directors, Bylaws, Corporate Governance, Shareholders

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Second Circuit Affirmance of ‘Sterilization’ Remedy Denial in 13d Case Reinforces Need for Appropriate Advance Notice Bylaws

The US Court of Appeals for the Second Circuit recently affirmed a District Court’s denial of a company’s request to “sterilize” the voting securities of stockholders who allegedly violated the disclosure requirements of Section… more

Investors, Schedule 13D, Securities and Exchange Commission (SEC), Securities Exchange Act of 1934

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Executive Order Withdraws United States from International Climate Commitments and Finance Initiatives

On January 20, US President Trump issued an executive order, “Putting America First in International Environmental Agreements,” withdrawing the United States from the Paris Agreement and other climate-related financial… more

Carbon Emissions, Climate Change, Environmental Policies, Executive Orders, Foreign Policy

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Proactive Approach To Cybersecurity: Recent SEC guidance and enforcement actions suggest that reactive firms may be in the SEC’s crosshairs

In an environment where even the largest and most powerful corporations have fallen victim to data breaches, it can be challenging to fathom how to protect against the sophisticated and ever-evolving threat of cyber attacks. The… more

Broker-Dealer, Corporate Governance, Cyber Attacks, Cyber Incident Reporting, Cyber Threats

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HKEX to Further Promote Its Paperless Initiative in 2024

The Stock Exchange of Hong Kong Limited (HKEX) recently released its Consultation Conclusions on the Consultation Paper introduced in December 2022, Proposals to Expand the Paperless Listing Regime and Other Rule Amendments,… more

HKEx, Hong Kong, Hong Kong Stock Exchange, Listing Rules

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DC Circuit Ruling May Limit SEC Ability to Bar or Suspend Registered Persons

The US Court of Appeals for the DC Circuit upended a longstanding Securities and Exchange Commission (SEC or Commission) position by ruling on April 30 that “willful” conduct—a frequent prerequisite in a broad range of sanctions… more

Financial Services Industry, Investment Adviser, Securities and Exchange Commission (SEC)

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California Law Will Obligate VC Firms to Report Portfolio Company Diversity Metrics

California Governor Gavin Newsom recently signed Senate Bill 54, which aims to increase diversity among founders that are backed by venture capital (VC) companies. If implemented in its current version, SB 54 will likely apply… more

California, Governor Newsom, Investors, Startups, Venture Capital

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California Consumer Privacy Act Could Spell a Sea Change in US Privacy Law

The California Consumer Privacy Act, which could be on the ballot in November, aims to introduce a groundbreaking approach to consumer privacy that not only is likely to resonate with the state’s voters, but is also expected to… more

Ballot Measures, Consumer Privacy Rights, Data Breach, Privacy Laws

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Long Awaited ESOP Proposals Issued and Then Quickly Withdrawn

On January 20, 2025, an executive order froze two new pieces of proposed employee stock ownership plan (ESOP) guidance announced in a notice of proposed rulemaking and originally set for publication in the Federal Register on… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP, Executive Orders

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California Wildfires: Essential Insurance Recovery Considerations for Businesses and Homeowners

The devastating wildfires that have rapidly spread across Los Angeles this month underscore the need for businesses and homeowners to be prepared to make insurance claims when natural disasters strike. This LawFlash details five… more

Business Interruption, California, Commercial Insurance Policies, Homeowners, Insurance Claims

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COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for… more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

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Singapore Introduces ‘Simplified Insolvency Programme’ for Micro and Small Companies

Micro and small companies will be able to use a “Simplified Insolvency Programme” to be introduced by proposed amendments to Singapore’s Insolvency, Restructuring, and Dissolution Act 2018 (IRDA)… more

Coronavirus/COVID-19, Corporate Restructuring, Financial Distress, Infectious Diseases, Insolvency

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Singapore Court Rules on Right to Challenge Arbitral Awards on Jurisdictional Grounds

On 9 May 2019, the Singapore Court of Appeal in Rakna Arakshaka Lanka Ltd v Avant Garde Maritime Services (Pte) Ltd [2019] SGCA 33 considered whether a respondent who failed to appeal to the Singapore courts in accordance with… more

Arbitration, Arbitration Awards, International Arbitration, Singapore, UNCITRAL

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Update: Russia Ends Involvement of Russian National Settlement Depository in Recordkeeping of Type C Account Russian Shares

The president of Russia issued Decree No. 840 on October 2, 2024, prescribing that all Russian custodians transfer shares of Russian joint-stock companies held in Type C custody accounts from the National Settlement Depository… more

Banks, Economic Sanctions, Financial Institutions, Office of Financial Sanctions Implementation (OFSI), Russia

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HKEX to Further Promote Its Paperless Initiative in 2024

The Stock Exchange of Hong Kong Limited (HKEX) recently released its Consultation Conclusions on the Consultation Paper introduced in December 2022, Proposals to Expand the Paperless Listing Regime and Other Rule Amendments,… more

HKEx, Hong Kong, Hong Kong Stock Exchange, Listing Rules

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Singapore Court of Appeal: Claims from Other Contracts Cannot Be Set Off in an Adjudication

Singapore’s Court of Appeal recently ruled that claims and set-offs from other contracts between the two parties in an adjudication are not consistent with the purpose of the Building and Construction Industry Security of… more

Adjudicatory Process, Construction Contracts, Contract Disputes, Singapore

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Singapore Court of Appeal Provides Guidance on Duty of Adjudicators to Consider Issues Raised by Parties

The Singapore Court of Appeal, in Bintai Kindenko Pte Ltd v Samsung C&T Corporation (2018) SGCA 39, recently upheld the decision of the High Court in setting aside an adjudication determination made under the Building and… more

Adjudicatory Process, Singapore, SOP Act

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New Jersey WARN Act to Impose Mandatory Severance Pay, Stricter Employer Obligations

The amended New Jersey WARN Act will impose significantly stricter obligations (including potential individual liability) and make New Jersey the first state to mandate severance pay to employees separated as a result of certain… more

Employer Liability Issues, Hiring & Firing, Labor Regulations, Layoffs, Severance Pay

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CFPB Issues Final Rule on Personal Financial Data Rights

Almost exactly a year after issuing a Notice of Proposed Rulemaking (NPRM) on Personal Financial Data rights, on October 22, 2024 the Consumer Financial Protection Bureau (CFPB) issued its final Rule under Section 1033 of the… more

Consumer Financial Products, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Dodd-Frank, Financial Services Industry

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Reopening the Workplace: A Preliminary Guide for UK Employers

Key issues that UK employers should begin considering now to minimize difficulties as they reopen or expand their operations include reintegrating staff, assessing internal policies in light of the pandemic, testing for the… more

Coronavirus/COVID-19, Employer Responsibilities, Re-Opening Guidelines, Return-to-Work Agreements, UK

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California Law Requires Pay Range Disclosures on Job Postings and Mandates Pay Data Reporting

Employers in California must include pay ranges in all job advertisements effective January 1, 2023, and must submit comprehensive pay data for employees and subcontractors to the California Civil Rights Department starting on… more

California, Employees, Employer Liability Issues, New Legislation, Pay Data

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OSHA’s Aggressive Deregulatory Efforts Begin

The Occupational Safety and Health Administration (OSHA) has begun what the US Department of Labor describes as “aggressive deregulatory efforts” to “put American workers and job creators first.” In response to President Donald… more

Construction Industry, Deregulation, Executive Orders, Federal Register, General Duty Clause

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DOJ Updates Antitrust Leniency FAQs––Clarifying Some Standards and Raising Questions

The US Department of Justice (DOJ) Antitrust Division announced significant guidance updates to its leniency program on April 4, 2022. Under the program, companies that self-report antitrust conspiratorial activity to the… more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Criminal Antitrust Litigation, Department of Justice (DOJ)

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DOJ Issues Guidance on Compliance Monitors in Corporate Plea Agreements

The guidance emphasizes flexibility and cost-benefit analysis in the monitor selection process, and along with the recognition by the US Department of Justice that monitors should be appointed only when absolutely necessary, it… more

Compliance, Department of Justice (DOJ), Pleas

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PA Court Holds That Natural Gas Producer Improperly Deducted Fees

Post-production costs deducted from gas royalties, such as interstate transportation charges and marketing costs, must be incurred while a producer still holds title to the gas… more

Class Action, Interstate Commerce, Land Owners, Natural Gas, Pipelines

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GENIUS Act Passes in US Congress: A Breakdown of the Landmark Stablecoin Law

The US House of Representatives passed the Guiding and Establishing National Innovation for US Stablecoins Act, or the “GENIUS Act,” on July 17, 2025, sending the landmark legislation to President Donald Trump for his signature… more

Anti-Money Laundering, Blockchain, Cryptocurrency, Digital Assets, Financial Regulatory Reform

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When Is a Deposit Refundable? Express Terms Are Important

Singapore’s Court of Appeal recently ruled that a party to a contract is not entitled to a refund of a $300,000 deposit it had paid in anticipation of an agreement that never materialised. Contracting parties are therefore well… more

Appeals, Contract Terms, Refunds, Singapore

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Colorado’s Proposed Teen Privacy Rules Signal New Era of State-Led Regulation

The Colorado Attorney General’s Office recently released proposed rule amendments to the Colorado Privacy Act (CPA) that, if adopted, would create some of the most robust protections for minors’ online data in the United States… more

Biometric Information, Colorado, Consent, COPPA, Data Privacy

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DOJ Revises Corporate Monitor Policy with New Cost and Oversight Rules

On May 12, 2025, the US Department of Justice’s Criminal Division published a set of memoranda outlining white collar enforcement priorities and an updated outlook on the imposition and selection of corporate monitors. The… more

Compliance Monitoring, Corporate Misconduct, Corporate Monitoring, Department of Justice (DOJ), Enforcement Priorities

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Key Considerations for the United States’ Notice Implementing OECD’s ‘Amount B’

The Internal Revenue Service (IRS) has released Notice 2025-04 announcing the IRS and US Department of the Treasury’s intention to issue proposed regulations implementing “Amount B,” the OECD’s new method (also known as the… more

Corporate Taxes, Income Taxes, Internal Revenue Code (IRC), IRS, OECD

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Not Done Yet—Employee Benefits Plan Transition and Integration Decisions Continue After M&A Transactions Close

Patrick Rehfield focuses on matters related to executive compensation, payroll tax, and employee fringe benefits. He advises private and public companies on designing and implementing nonqualified retirement plans, equity… more

Acquisitions, Employee Benefits, Employer Liability Issues, Mergers, Retirement Plan

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‘America’s AI Action Plan’ Encourages Reforms for Rapid Data Center Buildout

The US administration released its Artificial Intelligence (AI) Action Plan (Plan) on July 23, 2025. This Plan seeks to encourage innovation in AI along with an aggressive buildout of AI data centers, as well as the energy… more

Artificial Intelligence, Data Centers, Energy Policy, Environmental Policies, Infrastructure

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Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative… more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

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UK Bolsters Sanctions Powers Against Russia

The United Kingdom on 10 February 2022 amended its Russian sanctions law to more easily add persons to its targeted sanctions regime, which enhances the UK’s ability to quickly impose sanctions against most parts of the Russian… more

Economic Sanctions, Executive Orders, Export Controls, Financial Services Industry, Russia

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PFAS and Microplastics Litigation: The Latest Front of ESG Lawsuits

A growing awareness of perfluoroalkyl and polyfluoroalkyl substances (PFAS) and the pervasiveness of microplastics have led to an uptick in litigation by private plaintiffs, nongovernmental organizations, and state attorneys… more

Class Action, Consumer Protection Laws, Environmental Litigation, Environmental Social & Governance (ESG), False Advertising

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Current Developments in SEC Enforcement for Public Companies and a Look Ahead 2024–2025

The US Securities and Exchange Commission (SEC) brought a number of notable enforcement proceedings against public companies in fiscal year 2024, which ended September 30, 2024, and into the first quarter of fiscal year 2025. We… more

Corporate Governance, Corporate Misconduct, Enforcement Actions, Investors, Publicly-Traded Companies

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New York Issues Tax Advisory Opinion Regarding Cloud Computing Product

The new guidance addresses the New York sales and use tax treatment of cloud computing services. Background - On April 14, the New York State Department of Taxation and Finance (the Department) issued Advisory… more

Advisory Opinions, Cloud Computing, Popular, Sales & Use Tax

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Current Developments in SEC Enforcement for Public Companies 2024

The US Securities and Exchange Commission (SEC) continued its significant focus on public companies in 2023 with its enforcement and rulemaking programs, and this heightened level of attention will continue throughout 2024… more

10b5-1 Plans, Disclosure Requirements, Insider Trading, Securities Act of 1933, Securities and Exchange Commission (SEC)

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EU Update: EES and ETIAS Implementation Timelines - Phased Rollout Confirmed

The European Union has provided updated guidance on the phased implementation of its long-anticipated Entry/Exit System (EES) and the European Travel Information and Authorisation System (ETIAS), both of which form part of a… more

Employer Responsibilities, EU, Immigration Procedures, International Travel, Regulatory Requirements

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Implications of COVID-19 for Institutional Investors

The spread of the coronavirus (COVID-19) continues to impact global financial markets and private funds. Institutional investors, funds-of-funds, family offices, and other investors in private funds should consider the economic… more

China, Coronavirus/COVID-19, Crisis Management, Emergency Management Plans, Infectious Diseases

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Private Funds 2023: The Year in Brief

2023 was a watershed year for the private fund industry, not only because the US Securities and Exchange Commission (SEC) adopted a package of new regulations that will substantially alter the private fund landscape (subject to… more

Broker-Dealer, Form PF, Investment Adviser, Investors, Private Funds

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SEC Division of Examinations Issues Registered Funds Risk Alert

The US Securities and Exchange Commission’s (SEC’s) Division of Examinations recently issued a Risk Alert citing recent deficiencies observed during examinations of registered funds, including the mischaracterization of… more

Corporate Governance, Disclosure Requirements, Environmental Social & Governance (ESG), Securities and Exchange Commission (SEC)

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FinCEN Issues First Transaction Ban on Certain Mexico-Based Financial Institutions

In a historic first, the US Department of the Treasury’s Financial Crimes Enforcement Network recently published orders prohibiting transactions with covered Mexico-based financial institutions. On June 30, 2025, the US… more

Anti-Money Laundering, Department of Justice (DOJ), Drug Trafficking, Economic Sanctions, Enforcement Actions

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Latest Changes to Disclosure Pilot Scheme in the Business and Property Courts of England and Wales

Over the last 18 months, the Business and Property Courts of England and Wales have been running the Disclosure Pilot Scheme. Since its inception, this scheme has undergone a series of tweaks and amendments and the latest… more

Business and Property Courts, Case Management, Disclosure Pilot Scheme, Discovery, Document Productions

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Commenters Weigh in on Proposed Federal MDL Rule to Help Shape Future of Mass Litigation

The Federal Advisory Committee on Civil Rules has opened public comment on proposed Rule 16.1, which addresses case management in multidistrict litigation (MDL) proceedings. The proposed rule attempts to provide guidance for… more

Case Management, Comment Period, Discovery, Federal Rules of Civil Procedure, Multidistrict Litigation

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Names Rule Amendments Will Require Changes For Certain Funds

On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping… more

Amended Rules, Investment Companies, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

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UK Life Sciences Sector Plan: What In-House Legal and Compliance Teams Need to Know

The UK government recently unveiled its 10-year Life Sciences Sector Plan, putting forward a comprehensive strategy for transforming the UK into a global leader in life sciences by 2035. This LawFlash outlines key areas of… more

Biotechnology, Clinical Trials, Data Privacy, Intellectual Property Protection, Investment

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New York’s DOL Publishes New Guidance, FAQs on Retail Workers Safety Act

Just days before the Retail Worker Safety Act took effect on June 2, 2025, the New York State Department of Labor issued guidance, model training, and a sample policy to assist covered employers with compliance. The act, signed… more

Employee Training, Employer Responsibilities, New Guidance, New Legislation, New York

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State Insurance Regulators and Legislators Respond to COVID-19 Pandemic

Insurance regulators across the country have enacted emergency regulations, issued administrative guidance, and requested carriers to take certain actions to try to address the financial impact of the coronavirus (COVID-19)… more

Coronavirus/COVID-19, Insurance Claims, Insurance Regulations, Legislative Agendas, Policy Terms

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FDA Updates Food Labeling Compliance Program: What It Means for Food Manufacturers

In June 2025, the US Food and Drug Administration (FDA) announced a major update to its General Food Labeling Requirements Compliance Program—the first overhaul of this program since 2010. This program guides FDA inspectors in… more

Class Action, Enforcement Actions, Food and Drug Administration (FDA), Food Labeling, Food Manufacturers

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Ensuring Compliance with ‘Junk Fee’ Regulatory Requirements

With the continued expansion of the regulation of “junk fees,” including bipartisan actions from federal, state, and local authorities, it is more important than ever for businesses to ensure compliance with these requirements… more

Consumer Financial Protection Bureau (CFPB), Enforcement Actions, Federal Trade Commission (FTC), Fees, New Regulations

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Non-performing and Re-performing Loan Securitisation in Europe: What Does the Future Hold?

An elevated level of non-performing loans (NPLs) on European banks’ balance sheets drove a slate of legislation and regulation in recent years, including directives aimed at developing and enhancing a secondary market for NPLs… more

Banking Sector, EU, European Banking Authority (EBA), Non-Performing Loans (NPL), Securitization

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CMS Administrator Touts Changes to RAC Program

In CMS’s continuing effort to take “a strategic approach to protecting taxpayer dollars and reducing regulation to put patients over paperwork,” Administrator Seema Verma recently highlighted changes to the Recovery Audit… more

Centers for Medicare & Medicaid Services (CMS), Fee-for-Service, Health Care Providers, Medicare, Recovery Audit Contractors (RACs)

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SEC Disclosure and Taxation of Executive Security Benefits: Legal Requirements and Key Considerations

Many companies are reevaluating their corporate security practices and considering enhancements to the security protections they provide to their executives and other senior leaders. Companies exploring such security practices… more

Disclosure Requirements, Employee Benefits, Income Taxes, Internal Revenue Code (IRC), Reporting Requirements

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How to Develop Partner-Ready Patent Estates

For our third and final Biotech Week Boston post, partner Stephen Altieri—one of the many within our 250-member-strong comprehensive cross-practice life sciences team with an advanced scientific degree—discusses efficient patent… more

Intellectual Property Protection, Patent Infringement, Patents, Pharmaceutical Industry, Pharmaceutical Patents

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California Wildfires: Essential Insurance Recovery Considerations for Businesses and Homeowners

The devastating wildfires that have rapidly spread across Los Angeles this month underscore the need for businesses and homeowners to be prepared to make insurance claims when natural disasters strike. This LawFlash details five… more

Business Interruption, California, Commercial Insurance Policies, Homeowners, Insurance Claims

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Assembly Bill 152 Extends California’s COVID-19 Supplemental Paid Sick Leave

California Governor Gavin Newsom signed Assembly Bill 152 into law on September 29, extending California’s 2022 COVID-19 Supplemental Paid Sick Leave law to December 31, 2022. The bill also creates a program that will reimburse… more

Coronavirus/COVID-19, Employee Benefits, Governor Newsom, Paid Leave, Paid Time Off (PTO)

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European Commission Publishes Proposed Amendments to the EU Securitisation Regulation

The European Commission published its proposals for amendments to the EU Securitisation Regulation on 17 June 2025. These proposals are of significant importance for securitisation market participants… more

Capital Requirements, Disclosure Requirements, EU, European Commission, Financial Markets

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Amendments to Mexico’s Power Industry Law Remain Suspended Despite Court Decisions

As of July 15, 2021, both Federal Collegiate Courts in Administrative Matters Specialized in Economic Competition (Tribunal Colegiado en Materia Administrativa Especializado en Competencia Económica, Radiodifusión y… more

Arbitration, Electricity, Energy Sector, Foreign Investment, International Arbitration

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2024 Amendments to India's Patent Rules: Unlocking Cross-Border IP Opportunities

In March 2024, the Indian Ministry of Commerce and Industry published changes to its 2003 Patent Rules. These applicant-friendly changes include (1) a relaxation in the rules relating to the submission of information regarding… more

Artificial Intelligence, European Patent Office, Intellectual Property Protection, Patent Applications, Patent Infringement

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NLRB Restrains Employer Speech, Finds Captive-Audience Meetings Unlawful

A split National Labor Relations Board recently issued its decision in Amazon.com Services LLC, ruling an employer violates the National Labor Relations Act by mandating employees attend a meeting in which the employer expresses… more

Employer Liability Issues, NLRA, NLRB, Unfair Labor Practices, Union Representatives

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Allegations Of Sexual Misconduct On Campus: Complying With The Us Department Of Education’s Final Regulations On Title IX

The US Department of Education (DOE) on May 6, 2020 issued legally binding amended regulations governing how institutions that receive federal funding under Title IX of the Education Amendments of 1972 (Title IX) must respond to… more

Department of Education, Deregulation, Disciplinary Proceedings, Educational Institutions, Gender-Based Violence

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US Department of Labor Rolls Back Biden-Era FLSA Practices

The US Department of Labor has recently rolled back two critical Biden-era wage and hour practices. First, the DOL has stated that it will no longer enforce the 2024 Final Rule’s framework for determining employee or independent… more

Biden Administration, Department of Labor (DOL), Enforcement Actions, Fair Labor Standards Act (FLSA), Independent Contractors

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Employers Can Aid Wildfire Victims with Out-of-Pocket Expenses, Paid Leave, and Through Tax-Exempt Organizations

Many individuals are in desperate need of funds due to injuries, damage, and other unexpected expenses caused by the ongoing wildfires in Los Angeles. Employers can aid wildfire victims with tax-free payments, paid leave, and… more

Corporate Counsel, Disaster Aid, Employee Benefits, Employees, Employment Policies

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OSHA’s Aggressive Deregulatory Efforts Begin

The Occupational Safety and Health Administration (OSHA) has begun what the US Department of Labor describes as “aggressive deregulatory efforts” to “put American workers and job creators first.” In response to President Donald… more

Construction Industry, Deregulation, Executive Orders, Federal Register, General Duty Clause

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Evolving Transfer Pricing Controversy: Divergent Paths in the United States and Ireland

Transfer pricing enforcement is undergoing significant changes in both the United States and Ireland, with the two jurisdictions actively moving in different directions. While the United States is experiencing internal resource… more

Audits, Enforcement, International Tax Issues, Ireland, IRS

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New Jersey ‘Mansion Tax’ Changes Impose Higher Transaction Costs on Commercial and Residential Real Estate Sales

Recent revisions to New Jersey law increase the so-called “mansion tax” for sales in excess of $2 million and shift the tax payment obligation to the seller. Governor Phil Murphy recently signed legislation making substantial… more

Buyers, New Jersey, New Legislation, Real Estate Transactions, Real Estate Transfers

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State by State: An Updated Roadmap Through the Current US Energy Storage Policy Landscape

Energy storage resources have become an increasingly important component of the energy mix as traditional fossil fuel baseload energy resources transition to renewable energy sources. Currently 23 states, plus the District of… more

Clean Energy, Energy Policy, Energy Projects, Energy Sector, Energy Storage

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UK Government and FCA Propose More Streamlined, Nuanced Approach to Regulating Managers of Alternative Investment Funds

The UK government’s April launch of a consultation, along with a related call for input by the FCA, paves the way for further material divergence between the EU and UK models for the regulation of managers of alternative… more

Alternative Investment Funds, Asset Management, Financial Conduct Authority (FCA), Financial Regulatory Reform, Fund Managers

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Energy Storage Investments

As investment in renewable energy generation continues to rise to match increasing demand so too does investment, and the opportunity to invest, in energy storage. Estimates indicate that global energy storage installations rose… more

Acquisitions, Energy Projects, Energy Sector, Energy Storage, Investment

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Foreign Direct Investment in Asia: Key Trends and Regulatory Considerations

Foreign direct investment (FDI) in Asia continues to expand, with jurisdictions across the region implementing diverse regulatory frameworks to attract and control foreign capital. Understanding the nuances of these regulations… more

China, Foreign Direct Investment, Foreign Investment, India, Indonesia

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A 2025 Update on Utility-Scale Energy Storage Procurements

While the energy storage market continues to rapidly expand, fueled by record-low battery costs and robust policy support, challenges still loom on the horizon—tariffs, shifting tax incentives, and supply chain uncertainties… more

Batteries, Department of Energy (DOE), Energy Policy, Energy Storage, Inflation Reduction Act (IRA)

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Reform Comes to Australian Restructuring and Insolvency Law

Two key changes made to Australian insolvency law enhance restructuring efforts in Australia and could improve outcomes for US investors… more

Australia, Bankruptcy Code, Chapter 11, Debtors, Insolvency

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US Government Cracks Down on Alleged Misuse of US Funded Research by Chinese Scholars, Students

US government–funded academic medical centers and other research institutions are caught between traditional values of academic freedom, collaboration, and nondiscrimination and their obligations to comply with US law and… more

China, Health Care Providers, Medical Research, Research Funding

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Undeclared Work Among Subcontractors: Ensuring Compliance and Managing Social Contribution Reassessment

In France, combating against undeclared work remains a priority due to the estimated loss in contributions which amount to between 7 and 9 billion euros per year. In 2024, the Urssaf (the French social security collection… more

Employer Responsibilities, Enforcement Actions, France, Labor Regulations, Penalties

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‘A Second Bite at the Apple’: Copyright Case Highlights Section 203 Recapture Rights

A recent decision that will allow rap group 2 Live Crew to terminate a prior transfer of its copyrighted songs to a record label is a reminder that, due to a unique provision of the Copyright Act of 1976, every company that owns… more

Copyright, Copyright Litigation, Music, Musical Sound Recordings, Section 203

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Navigating FDA’s Evolving Approach to Guidance Publication for Medical Products

Guidance development and publication from the Food and Drug Administration (FDA) has long been considered an essential element of medical product development, approval, and regulation. While temporary pauses in guidance… more

Coronavirus/COVID-19, Drug Pricing, Executive Orders, Food and Drug Administration (FDA), Generic Drugs

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Early Results of USPTO’s New Climate Change Mitigation Pilot Program

The United States Patent and Trademark Office launched the Climate Change Mitigation Pilot Program last year to incentivize the filing of patent applications that cover technologies directed to climate change mitigation. With… more

Intellectual Property Protection, Patent Litigation, Patent Trial and Appeal Board, Patents, USPTO

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EU Competition Authorities Escalate Enforcement of No-Poach Agreements

The French Competition Authority recently fined several companies for no-poach agreements, following similar action by the European Commission in the online food delivery sector. These decisions mark a sharp escalation in labor… more

Acquisitions, Antitrust Provisions, Competition, Employee Rights, Employment Contract

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Biden Administration Proposes Increased Enforcement of Mental Health Parity Requirements

The US Departments of the Treasury, Labor, and Health and Human Services (the Departments) recently unveiled a proposed rule intended to increase mental health coverage through expanded plan oversight and enforcement activity… more

Biden Administration, Employer Group Health Plans, Health Insurance, Mental Health, Mental Health Parity Rule

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IRS Releases “Start Construction” Guidance for Renewable Energy Facilities

Long-awaited guidance regarding eligibility for production or investment tax credits largely tracks guidance under the Section 1603 cash grant program… more

American Taxpayer Relief Act, Begun Construction Test, Investment Tax Credits, IRS, Physical Work Test

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COVID-19: Practical Considerations for UK Companies’ Annual General Meetings

In light of the UK government’s lockdown measures and the COVID-19 pandemic, there are key issues English public companies should consider for their annual general meetings (AGMs) while awaiting further legislation and… more

Annual Meeting, BEIS, Coronavirus/COVID-19, Corporate Governance, UK

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Update: EU, UK, and US Sanctions Against Turkey

Recent sanctions imposed by the European Union, United Kingdom, and the United States on Turkey and certain Turkish persons will be of interest to European and American investors in Turkey’s defense and energy sectors. The… more

CAATSA, Defense Sector, Economic Sanctions, EU, Foreign Relations

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President Biden Revokes Ban Suspending Entry of Certain Immigrants, Issuance of Green Cards Overseas

President Joe Biden has rescinded Presidential Proclamation 10014, the prior administration’s ban that suspended the issuance of certain green cards overseas and barred entry into the United States of certain groups of… more

Biden Administration, Corporate Counsel, EB-1, EB-2, EB-3

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US Supreme Court Clarifies Where Corporations Can Be Sued for Patent Infringement

The United States Supreme Court clarified that 28 U.S.C. § 1400 is the exclusive venue statute for patent infringement cases, so the definition of “residence” for domestic corporations is limited to where they are incorporated… more

Patent Infringement, Patent Litigation, Patents, SCOTUS, TC Heartland LLC v Kraft Foods

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Top of Mind Issues When Negotiating Global Distribution Agreements: A Conversation with Marie Davy

As part of our Spotlight series, we welcome Marie Davy, who recently joined Morgan Lewis as a partner in our Paris office, to discuss key issues to consider when negotiating global distribution agreements… more

Contract Negotiations, Contract Terms, Dispute Resolution, Force Majeure Clause, Jurisdiction

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The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private… more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

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Navigating Legal Risk and Compliance Across the Nuclear Energy Sector

As the nuclear energy sector enters a period of renewed growth, companies face a complex array of legal, regulatory, and operational challenges. From liability frameworks governing radiation exposure to evolving enforcement… more

Artificial Intelligence, Department of Energy (DOE), Department of Justice (DOJ), Employee Benefits, False Claims Act (FCA)

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DOJ Announces New ‘No Piling-On’ Policy, but Maintains Compliance Expectations

The US Department of Justice announced on May 9 a new policy to avoid the imposition of duplicative penalties by multiple authorities in corporate fraud investigations. But, the DOJ’s expectations with respect to compliance… more

Compliance, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA), Penalties

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Communication Tools in a Digital Age: How Might a Works Council Interface with Employees?

In a time of ultra-connected communication tools and work from home, the access rights of a France-based company’s works council (WC) to its electronic and internal communication resources is a necessity now more than ever… more

Data Privacy, Employee Privacy Rights, Employee Rights, Employer Responsibilities, France

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White House Partnership Aims to Speed Up Construction of Offshore Wind Farms

Another boost to the growing US offshore wind industry came on June 23, 2022, when the Biden-Harris administration and several cabinet secretaries announced new initiatives, including a partnership with 11 eastern states… more

Biden Administration, Energy Projects, Energy Sector, Offshore Wind, Renewable Energy

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Texas High Court Limits Interdependent Expert Opinions

Experts may not rely on the unreliable opinions of other experts. In a recent opinion in Gharda USA, Inc. v. Control Solutions, Inc., No. 12-0987, --S.W.3d--, 2015 WL 2148058, at *9 (Tex. May 8, 2015), the Supreme Court of… more

Expert Testimony, Expert Witness, Manufacturing Defects

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met… more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

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Washington State Clarifies Its Pay Transparency Law

The Equal Pay and Opportunity Act requires employers hiring in Washington state to publish in job postings a wage scale or salary range and a general description of benefits to be offered to hired applicants. The Washington… more

Class Action, Damages, Employer Liability Issues, Employment Litigation, Job Applicants

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New SEC Rule Will Regulate Registered Fund Investments in Derivatives

On October 28, 2020, the US Securities and Exchange Commission (SEC) voted 3–2 to adopt Rule 18f-4 (the Rule) under the Investment Company Act of 1940 (the Investment Company Act), which will replace decades-old SEC and staff… more

Business Development Companies, Derivatives, ETFs, Financial Regulatory Reform, Investment Funds

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Maryland Becomes Ninth State to Enact Paid Sick Leave

The Healthy Working Families Act requires certain Maryland employers with 15 or more employees to provide paid sick leave. Maryland became the ninth state, along with the District of Columbia, to enact paid sick leave after… more

Healthy Workplaces Healthy Families Act 2014, Paid Leave, Paid Sick Leave Act, Sick Leave, Wage and Hour

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Illinois Enacts New Job Posting Transparency Law

Following the lead of numerous other states and localities requiring pay transparency in job postings, the State of Illinois further amended the Illinois Equal Pay Act of 2003 (IEPA) to accomplish this goal. Effective January 1,… more

Employer Liability Issues, Equal Pay, Posting Requirements, State Labor Laws, Transparency

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English High Court Takes ‘More Nuanced Approach’ to Difference Between Fixed and Floating Charges

The English High Court provided guidance on 25 April 2023 in Re Avanti Communications Limited to determine whether a charge is a fixed charge or a floating charge. The distinction between a fixed charge and a floating charge is… more

Financial Institutions, Financial Services Industry, Insolvency, UK

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Financial Institutions Face Investigations and Possible Referral to DOJ Based on Past ‘Debanking’ Practices

An executive order signed by the US president on August 7, 2025, titled Guaranteeing Fair Banking for All Americans, seeks to prohibit financial institutions from engaging in “debanking” practices, such as denying services or… more

Banking Sector, BSA/AML, Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ), ECOA

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Exploring the Legal Frontier of Space and Satellite Innovation

For companies in the aerospace and defense industry, the future of space innovation involves far more than rockets and satellites. Intellectual property, technology transfers, data privacy, and life sciences are among the fields… more

Data Privacy, Export Controls, FCC, Government Agencies, Intellectual Property Protection

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2019 ISG Momentum Market Trends & Insights Geography Report

The 2019 ISG Momentum Market Trends & Insights Geography Report was recently released and contains valuable insights on how the outsourcing industry is growing and transforming around the world. The report, which was published… more

Contract Terms, Outsourcing, Technology

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DOJ Launches Procurement Collusion Strike Force on Antitrust Crimes

The US Department of Justice (DOJ) on November 5 announced the formation of the Procurement Collusion Strike Force (PCSF). This interagency initiative will “lead a coordinated national response to combat antitrust crimes and… more

Antitrust Violations, Department of Justice (DOJ), DOJ Strike Force, Public Procurement Policies

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DOJ Issues Guidance for Recipients of Federal Funding Regarding Unlawful Discrimination

The US Department of Justice released new guidance for recipients of federal funding on July 29, 2025 intended to “clarif[y] the application of federal antidiscrimination laws to programs or initiatives that may involve… more

Anti-Discrimination Policies, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), False Claims Act (FCA), Federal Funding

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European Commission Launches Merger Guidelines Review

The European Commission (EC) is conducting a comprehensive review of its Merger Guidelines, supported by a broad public consultation. The review aims to determine whether the current framework remains suitable for assessing the… more

Antitrust Provisions, Competition, Digital Platforms, EU, European Commission

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following:… more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report… more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

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Essential Insurance Recovery Strategies for Retail and Energy Companies in a Year of Extreme Weather

The influx of severe weather events throughout 2024, including most recently Hurricane Helene, demonstrates the need for retail and energy companies to shore up commercial property and business interruption insurance. This… more

Business Interruption, Hurricane Season, Insurance Claims, Insurance Industry, Natural Gas

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Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government… more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

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What’s in a Name? FDA Proposes Updates to Its Biosimilar Naming Policy

The US Food and Drug Administration (FDA) issued an updated draft guidance on March 7 on the nonproprietary naming of biologics, titled Nonproprietary Naming of Biological Products: Update (Guidance). This update is FDA’s second… more

Biosimilars, Draft Guidance, Food and Drug Administration (FDA), Life Sciences

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Düsseldorf Fiscal Court: Legal and Consulting Fees for Sale of Second-Tier Subsidiary Fully Deductible Irrespective of an Existing Income Tax Group

In its decision dated February 26, 2025 (7 K 1811/21 K), the Düsseldorf Fiscal Court concluded that legal and consulting fees incurred by the indirect sale of a second-tier subsidiary by the subsidiary are deductible business… more

Business Expenses, Corporate Taxes, Germany, Income Taxes, Subsidiaries

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High-stakes Game: IRS ‘goes on the Offense’ Against Sports Industry Partnership Losses

Sports industry partnerships are now on notice that the Internal Revenue Service (IRS) is initiating specialized, issue-based BBA partnership examinations focusing on their income and deductions… more

Income Taxes, IRS, Tax Deductions, Tax Planning, Tax Returns

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US Federal Government Expands CFIUS, Texas Joins States Limiting Foreign Control of Real Property

Texas joins the patchwork of states enacting legislation restricting foreign investment in real property with the enactment of the 2025 Texas Senate Bill No. 17, highlighting the growing state interest in national security. The… more

CFIUS, Constitutional Challenges, Foreign Investment, Foreign Ownership, National Security

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Guidance on Distributions for Emergency Personal Expense and Domestic Abuse Victims

The Internal Revenue Service (IRS) released a notice providing guidance on distributions for emergency personal expense and domestic abuse victims under the SECURE 2.0 Act of 2022 (SECURE 2.0). Both distributions are optional,… more

Domestic Violence, Employee Benefits, Hardship Distributions, IRS, Retirement

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Back in the Classroom, but Not Back to ‘Normal’

The education industry, like many others, saw a fundamental shift in 2020 as remote learning challenged some of the long-held traditions of institutions, educators, and related companies. From federal support of reopening… more

American Rescue Plan Act of 2021, Biden Administration, Coronavirus/COVID-19, DACA, Education Reform

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COVID-19: Moscow Steps Up Workplace Restrictions, Introduces Reporting Requirements as Infection Rises

In response to the coronavirus (COVID-19) pandemic, President Vladimir Putin authorized the heads of Russian regions to determine the lockdown rules depending on the epidemiological situation in a particular territory. In this… more

Coronavirus/COVID-19, Government Lockdown, Infectious Diseases, Re-Opening Guidelines, Remote Working

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DOJ and OIG Warn Against Fraud Schemes Related to COVID-19 Pandemic

In managing the quickly evolving healthcare landscape during this current crisis, healthcare companies should be wary of fraudsters who attempt to divert critical resources… more

Coronavirus/COVID-19, Fraud, Medical Supplies, Personal Protective Equipment, Risk Mitigation

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SEC Issues FAQs on Broker-Dealer Crypto Asset Activities, Transfer Agent Blockchain Use

The Staff of the Division of Trading and Markets of the US Securities and Exchange Commission issued on May 15, 2025 responses to Frequently Asked Questions Relating to Crypto Asset Activities and Distributed Ledger Technology… more

Blockchain, Broker-Dealer, Cryptocurrency, Digital Assets, Financial Institutions

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Contract Corner: Best Practices for Securing IP Ownership

Part 1 of this three-part series discusses intellectual property ownership rights in the absence of another agreement. Part 2 addresses some of the common ways that parties can allocate the ownership of intellectual property in… more

Copyright Ownership, Intellectual Property Protection, Non-Disclosure Agreement, Patent Ownership, Trademark Ownership

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EPA Extends PFAS Reporting Deadline Under Toxic Substances Control Act Once More

EPA’s May 13 interim final rule, which extended the start and end dates of the PFAS Toxic Substances Control Act Section 8(a)(7) reporting period for all manufacturers by nine months, was EPA’s second such extension to the rule,… more

Environmental Protection Agency (EPA), Filing Deadlines, Imports, Manufacturers, PFAS

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Treasury and IRS Promulgate Final Regulations Governing Resolution of Federal Tax Controversies by the Independent Office of Appeals

The US Department of the Treasury and the Internal Revenue Service (IRS) have released Final Regulations related to the resolution of federal tax controversies by the Independent Office of Appeals (Appeals), largely rejecting… more

Appeals, Income Taxes, Internal Revenue Code (IRC), IRS, New Regulations

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EU Update: EES and ETIAS Implementation Timelines - Phased Rollout Confirmed

The European Union has provided updated guidance on the phased implementation of its long-anticipated Entry/Exit System (EES) and the European Travel Information and Authorisation System (ETIAS), both of which form part of a… more

Employer Responsibilities, EU, Immigration Procedures, International Travel, Regulatory Requirements

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Second Circuit Reverses Marblegate Holding on TIA § 316(b)

Court holds that TIA § 316(b) prohibits only non-consensual amendments to an indenture’s core payment terms. The US Court of Appeals for the Second Circuit limited the ability of minority bondholders to challenge… more

Bonds, Creditors, Foreclosure Sales, Trust Indenture Act

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Going Digital in the UK, US, and UAE: The Latest Digital Asset Developments

The global digital landscape continues to rapidly transform and bring forth innovative financial instruments and technologies, including within the shifting regulatory frameworks that have shaped the digital asset ecosystem in… more

Cryptoassets, Cryptocurrency, Digital Assets, Financial Conduct Authority (FCA), Financial Services Industry

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PBGC Modernizes De Minimis Distribution Rates

The Pension Benefit Guaranty Corporation (PBGC) published a final rule (Final Rule) on September 9 providing that effective January 1, 2021, it will use the interest and mortality assumptions under Internal Revenue Code (Code)… more

Defined Benefit Plans, Distribution Rules, Employee Benefits, Internal Revenue Code (IRC), IRS

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Blockbuster Biologics Review | Issue 27

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to… more

Biosimilars, Intellectual Property Litigation, Inter Partes Review (IPR) Proceeding, New Legislation, Patent Litigation

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DIFC Funds Regime Introduces Changes to Improve Flexibility, Clarity

In line with its position as the leading financial hub for the Middle East and North Africa region, the Dubai International Financial Centre (DIFC) has improved the flexibility of its funds regime, which should make it more… more

DIFC, Dubai, Investment Management, Private Investment Funds, United Arab Emirates (UAE)

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EPA Announces Creation of Office of Environmental Justice and External Civil Rights

US Environmental Protection Agency Administrator Michael Regan announced on September 24 that the agency is establishing a new national office focused on advancing environmental justice and civil rights… more

Biden Administration, Environmental Justice, Environmental Policies, Environmental Protection Agency (EPA), Executive Orders

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Federal Fiscal Court Issues Two Rulings on the Requirements for a Consolidated Tax Group for Income Tax Purposes - Legal Insights Germany

In two rulings, the Federal Fiscal Court (BFH) ruled in favor of the taxpayer on the requirements for a consolidated tax group for income tax purposes. Managing holding partnership as controlling company (judgment of November… more

Appeals, Business Entities, Corporate Taxes, Germany, Income Taxes

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Dueling Briefs Filed Over Human Authorship Requirement for US Copyright Registration

The threshold issue of human authorship as a prerequisite for obtaining copyright registration at the US Copyright Office is currently being litigated in federal court in the District of Columbia. In August 2023, the US District… more

Artificial Intelligence, Authorship, Copyright, Copyright Applications, Copyright Office

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The Trends—and Traps—that Will Shape 2023

The last few years have thrown many surprises at businesses. Organizations across all sectors have faced inflation, global conflicts, supply chain challenges, a pandemic, and continually changing government policies. In 2023,… more

Automotive Industry, Capital Markets, Cryptocurrency, Energy Sector, EU

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California Announces Increase in Compensation Rate for Computer Professional Exemption in 2025

California employers must ensure that compensation rates for computer professionals meet new salary thresholds, effective January 1, 2025. Employers must prepare now for the new computer professional exemption salary rates to… more

Employer Liability Issues, Employment Policies, State Labor Laws, Wage and Hour

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USPTO and Copyright Office Grant Deadline Relief, Further Guidance Awaited

The Director of the US Patent and Trademark Office and the Acting Register of the US Copyright Office have now taken action pursuant to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide relief from… more

CARES Act, Coronavirus/COVID-19, Deadlines, Filing Deadlines, Intellectual Property Protection

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Select Broker-Dealer Enforcement Cases and Developments: 2014 Year in Review

This Outline highlights key U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) and Financial Industry Regulatory Authority (“FINRA”) enforcement developments and cases regarding broker dealers.* The SEC… more

Broker-Dealer, Enforcement, Enforcement Actions, Municipal Securities Issuers, Securities and Exchange Commission (SEC)

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New Law Expands Prohibitions on Restrictive Covenant Agreements With Illinois Employees

Illinois Governor J.B. Pritzker signed new legislation on August 13 amending the Illinois Freedom to Work Act (the Act). The amended Act codifies certain existing common law principles and imposes new requirements that will… more

Collective Bargaining Agreements (CBA), Confidential Information, Employer Liability Issues, Employment Contract, Hiring & Firing

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FTC ‘Click-to-Cancel’ Rule Requires Canceling Recurring Charges to Be as Easy as Signing Up

The Federal Trade Commission (FTC) recently issued its Final Rule requiring businesses subject to its authority to establish equivalency between the ease of signing up and canceling subscriptions, memberships, and other… more

Automatic Renewals, Cancellation Rights, Consent, Consumer Contracts, Disclosure Requirements

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2017 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases… more

Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Penalties, Securities and Exchange Commission (SEC)

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SEC Staff Issues Names Rule FAQs

The Staff of the US Securities and Exchange Commission has issued FAQs regarding recent amendments to Rule 35d-1 (often referred to as the Names Rule) under the Investment Company Act of 1940. The amendments to the Names Rule,… more

Amended Rules, Disclosure Requirements, Investment, Investment Adviser, Investment Company Act of 1940

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In Yet Another Decision Restricting EPA Authority, US Supreme Court Holds EPA Cannot Set CWA Permit Limits

The US Supreme Court held in City and County of San Francisco v. EPA that the US Environmental Protection Agency lacks authority under the Clean Water Act to include “end-result” limitations in National Pollutant Discharge… more

Clean Water Act, Enforcement, Environmental Protection Agency (EPA), NPDES, Pollution Control

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San Francisco to Impose Tax on Companies with Disproportionate Executive Pay

San Francisco voters on November 3 approved Proposition L, which imposes an additional tax on businesses whose highest paid executive makes 100 times or more than the median salary of the business’s employees based in San… more

Ballot Measures, Business Taxes, Compensation & Benefits, Executive Compensation, New Legislation

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IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

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The Intersection of Artificial Intelligence, COVID-19, and Copyright

While artificial intelligence promises to be useful in responding to the coronavirus (COVID-19) pandemic, companies should be aware of potential copyright considerations. The sudden and severe impact of COVID-19 has created many… more

Artificial Intelligence, Copyright, Coronavirus/COVID-19, Intellectual Property Protection, Patents

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Attorney General’s Guidance on Unlawful Discrimination: Implications for Federal Funding Recipients and FCA Whistleblower Accountability

The Office of the Attorney General in the US Department of Justice (DOJ) issued a Memorandum on July 29, 2025, titled “Guidance for Recipients of Federal Funding Regarding Unlawful Discrimination” (the Guidance). The Guidance… more

Anti-Discrimination Policies, Anti-Retaliation Provisions, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), False Claims Act (FCA)

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Regulatory Shifts in Aerospace and Defense: What Businesses Need to Know as 2025 Takes Flight

The aerospace and defense industry is facing a rapidly shifting legal landscape in 2025, shaped by regulatory updates, enforcement trends, and geopolitical considerations. With increased scrutiny on foreign investments,… more

CFIUS, Compliance, Cybersecurity, Department of Justice (DOJ), DFARS

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Washington State Year-End Legislative Developments Employers Need to Know (Updated)

Washington state recently enacted a slew of laws that will impact employers across the state. Most of the new laws expand protections for employees, but some offer relief to employers as they adjust to new requirements… more

Criminal Records, Family and Medical Leave Act (FMLA), Hate Crimes, Job Ads, Paid Family Leave Law

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Affordable Care Act Section 1557 New Language Accessibility Requirements

Section 1557 of the Affordable Care Act (ACA) prohibits discrimination on the basis of race, color, national origin, sex, age, or disability in certain healthcare activities. Among other requirements, all healthcare providers… more

Affordable Care Act, Centers for Medicare & Medicaid Services (CMS), Civil Rights Act, Department of Health and Human Services (HHS), Health Care Providers

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US Patent Office ARP Affirms the Use of Means-Plus-Function Limitations to Claim Antibodies

In the recent decision Ex parte Chamberlain, Appeal 22-1944 (Xencor), the United States Patent and Trademark Office’s new Appeals Review Panel provided clarity regarding its stance on means-plus-function claims. Its decision… more

Intellectual Property Protection, Patent Applications, Patent Trial and Appeal Board, Patents, USPTO

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District of Massachusetts Adds Certainty to Local Patent Rules

Effective June 1, the local rule for patent cases in the US District Court for the District of Massachusetts, Local Rule 16.6, has been amended. The amendments replace the former rule entirely and apply to all cases for which a… more

Claim Construction, New Amendments, Patents

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Supreme Court Adopts Broad Interpretation of Primary Liability in SEC Antifraud Case

In a decision beneficial to the US Securities and Exchange Commission, the US Supreme Court has affirmed that those persons who disseminate statements containing material misrepresentations or omissions are primarily liable for… more

Appeals, Enforcement Actions, False Statements, Fines, Intent to Defraud

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Pennsylvania Does Not Recognize Duty to Warn an Employee’s Spouse

District court predicts that Pennsylvania will not recognize a duty to protect or warn the spouse of an employee in “take home” or “household” asbestos exposure cases. On August 26, Judge Eduardo C. Robreno of the U.S… more

Asbestos, Boeing, Employer Liability Issues, Take-Home Exposure

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NJ State Contractors Required to Mandate Vaccination or Weekly Covid-19 Testing – Publications

Under a newly signed executive order in New Jersey, all state contractors and subcontractors entering agreements with the state must include a clause that requires all covered workers to either provide adequate proof to the… more

Coronavirus/COVID-19, Employer Liability Issues, Executive Orders, Governor Murphy, Public Health

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DOJ's Data Security Program Enforcement in Full Swing: Key Considerations for Companies

The US Department of Justice’s (DOJ’s) final rule implementing Executive Order (EO) 14117, Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern went into… more

China, Cybersecurity, Data Privacy, Data Security, Department of Justice (DOJ)

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Colorado’s Proposed Teen Privacy Rules Signal New Era of State-Led Regulation

The Colorado Attorney General’s Office recently released proposed rule amendments to the Colorado Privacy Act (CPA) that, if adopted, would create some of the most robust protections for minors’ online data in the United States… more

Biometric Information, Colorado, Consent, COPPA, Data Privacy

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New York Drops COVID-19 Restrictions as State Reaches 70% Vaccination Goal

Governor Andrew Cuomo announced on June 15 that the State of New York reached its goal of 70% of adult New Yorkers receiving at least one dose of a COVID-19 vaccine. As anticipated based on prior announcements, Governor Cuomo… more

Coronavirus/COVID-19, Critical Infrastructure Sectors, Emergency Management Plans, Health and Safety, Infectious Diseases

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Russia Adopts New Investment Law

President Vladimir Putin signed a package of laws (informally referred to as the Investment Code) on 1 April to encourage further investment in Russia. The primary tool that the new legislation offers to investors is an… more

Capital Investments, Corporate Sales Transactions, Covered Transactions, Investment, New Legislation

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European Commission Publishes Proposed Amendments to the EU Securitisation Regulation

The European Commission published its proposals for amendments to the EU Securitisation Regulation on 17 June 2025. These proposals are of significant importance for securitisation market participants… more

Capital Requirements, Disclosure Requirements, EU, European Commission, Financial Markets

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met… more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

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Washington State Year-End Legislative Developments Employers Need to Know (Updated)

Washington state recently enacted a slew of laws that will impact employers across the state. Most of the new laws expand protections for employees, but some offer relief to employers as they adjust to new requirements… more

Criminal Records, Family and Medical Leave Act (FMLA), Hate Crimes, Job Ads, Paid Family Leave Law

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Brexit and Judicial Cooperation – All Is Not Lost…Yet

The smooth functioning of international civil legal proceedings across European Union (EU) national frontiers has been one of the benefits of EU membership. With the United Kingdom (UK) now departing from the EU, are… more

Cross-Border, EU, Foreign Jurisdictions, International Business Courts, International Litigation

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NLRB Restrains Employer Speech, Finds Captive-Audience Meetings Unlawful

A split National Labor Relations Board recently issued its decision in Amazon.com Services LLC, ruling an employer violates the National Labor Relations Act by mandating employees attend a meeting in which the employer expresses… more

Employer Liability Issues, NLRA, NLRB, Unfair Labor Practices, Union Representatives

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No More Public Access to German Transparency Register Due to New European Court of Justice Ruling

The European Court of Justice in a recent judgment nullified a key provision in the 2018 version of the EU Money Laundering Directive requiring that information regarding beneficial owners registered in the European national… more

Anti-Money Laundering, Beneficial Owner, Court of Justice of the European Union (CJEU), Disclosure Requirements, EU

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Minneapolis and Washington State Impose ‘Fair Chance’ Requirements on Employers That Consider Criminal History

Minneapolis and Washington state have amended their antidiscrimination laws to provide new employment protections for individuals with criminal histories and to impose new procedural requirements on employers who consider… more

Criminal Background Checks, Employment Discrimination, Hiring & Firing, New Legislation, State Labor Laws

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US Supreme Court Clarifies Application of Federal Arbitration Act’s ‘Transportation Worker’ Exemption

In Bissonnette v. LePage Bakeries, a unanimous Supreme Court clarified the scope of the Federal Arbitration Act’s (FAA’s) “transportation worker” exemption by rejecting the industry-based test applied in the Second Circuit. In… more

Arbitration, Arbitration Agreements, Bissonnette v LePage Bakeries Park St LLC, Delivery Drivers, Employer Liability Issues

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Class Action Litigation Over Massachusetts Lie Detector Statute Surges: What Employers Need to Know

Massachusetts employers are increasingly being targeted in a growing wave of class action litigation under the commonwealth’s longstanding law G.L. c. 149, § 19B. In relevant part, the law requires that all job applications “for… more

Class Action, Damages, Employee Rights, Employer Responsibilities, Employment Litigation

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US Supreme Court Considers Whether Classes with Uninjured Members Can Be Certified

The US Supreme Court held oral arguments in Laboratory Corporation of America Holdings d/b/a Labcorp v. Davis, et al. to consider the issue of whether a federal court can certify a class when some of the members of the proposed… more

Americans with Disabilities Act (ADA), Appeals, Article III, Class Action, Class Certification

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Key Takeaways: Advertising and Marketing in the Automotive Industry

As advertising and marketing strategies in the automotive sector continue to evolve in response to advancing technology and changing consumer expectations, advertisers are encountering new questions—accompanied by intensifying… more

Advertising, Artificial Intelligence, Automotive Industry, Environmental Claims, Federal Trade Commission (FTC)

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected… more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

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Navigating Trends and Pitfalls in Power and Utilities M&A Transactions

For businesses in the highly regulated areas of electric, gas, and water, and businesses in the wholesale electric generation space, there are many key considerations to keep in mind when pursuing an M&A transaction… more

Acquisition Agreements, Energy Storage, Infrastructure, Merger Agreements, Oil & Gas

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US Supreme Court Allows Trademark Registration for Booking.com

The US Supreme Court has rejected a bright-line rule denying applications to register trademarks comprising a generic term and “.com.” In an 8–1 decision by Justice Ruth Bader Ginsberg in United States Patent and Trademark… more

Acquired Distinctiveness, Appeals, Booking.com, Domain Name Registration, Domain Names

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EPA Delays Start of Toxic Substances Control Act Reporting Period for PFAS Data

The US Environmental Protection Agency (EPA) issued a direct final rule on September 5 that will delay the beginning of the per- and polyfluoroalkyl substances (PFAS) reporting period under the Toxic Substances Control Act… more

Environmental Protection Agency (EPA), Hazardous Substances, PFAS, Toxic Chemicals, Toxic Substances Control Act (TSCA)

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ADA Compliant Websites: Uptick in Litigation Against Financial Services Firms, Increased Regulatory Attention

Amid a notable recent uptick in website accessibility cases, both threatened and filed, against financial services companies alleging violations under the Americans with Disabilities Act (ADA) and/or similar state and local… more

Americans with Disabilities Act (ADA), Department of Justice (DOJ), Disability Discrimination, Public Accommodation, Securities and Exchange Commission (SEC)

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Healthcare and Life Sciences: Key Insights and Considerations for Stakeholders in 2025

This report compiles several important developments that shaped the healthcare and life sciences industries in 2024 and spotlights key areas to watch in 2025. Each section addresses either an industry sector within healthcare or… more

Artificial Intelligence, Digital Health, Drug Pricing, Health Technology, Hospitals

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New Tariffs, Old Risks: Antitrust Considerations

With regulatory scrutiny by governments on the rise, this LawFlash summarizes key antitrust issues for companies in all industries affected by tariffs. History shows that cartels tend to form in times of rapid economic change… more

Antitrust Provisions, Antitrust Violations, Competition Authorities, Enforcement Actions, Information Sharing

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Federal Circuit Broadly Interprets Indemnity Provisions in the Price Anderson Act

A recent decision by the US Court of Appeals for the Federal Circuit reinstated claims seeking indemnification under the Price-Anderson Act. In reversing a decision by the US Court of Federal Claims, the Federal Circuit affirmed… more

Contract Disputes, Contract Terms, Department of Energy (DOE), Environmental Liability, Federal Contractors

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US Supreme Court: Highly Compensated Employees Entitled to Overtime Unless FLSA Exemption Requirements Satisfied

In Helix Energy Solutions Group Inc. v. Hewitt, the US Supreme Court held (on the facts of that case) that an employer had improperly classified a supervisory employee earning more than $200,000 per year as an exempt “executive”… more

Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Helix Energy Solutions Group Inc v Hewitt No 21-984, Highly Compensated Employees

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Antitrust Considerations Amid the Rapid Expansion of Cricket in the US

Firms across industries face mounting antitrust scrutiny from enforcers, legislators, and the plaintiffs’ bar. Sports teams and leagues are no exception. As the volume of sports commerce expands globally, so too does scrutiny… more

Antitrust Litigation, Antitrust Violations, Broadcasting, Competition, Sherman Act

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FTC Issues Final ‘Junk Fees Rule’ to Crackdown on Aggressive Pricing Practices

The Federal Trade Commission (FTC or Commission) recently issued a final rule (the Junk Fees Rule or the Rule) banning so-called “junk fees” in two key industries: short-term lodging and live events. The Rule addresses whether… more

Disclosure Requirements, Event Tickets, Excessive Fees, Federal Trade Commission (FTC), Fees

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Navigating Change: Innovation, Policy, and Market Shifts in the Automotive Industry

The automotive industry is undergoing a period of rapid transformation, driven by advancements in electric vehicle (EV) technology, artificial intelligence (AI), and digital connectivity amid shifting trade policies and evolving… more

Artificial Intelligence, Automotive Industry, Electric Vehicles, Innovation, Regulatory Requirements

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Main Street Lending Program (UPDATED)

This White Paper gives a broad understanding of the terms and implications of the Main Street Lending Program by delving into the key questions market participants are likely to have and addressing the latest changes implemented… more

Coronavirus/COVID-19, FRB, Main Street Lending Programs, Main Street New Loan Facility, Relief Measures

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Qualified Data Center Purchases Now Eligible for Massachusetts Sales and Use Tax Exemption

As part of a broad economic development bill recently passed by the Massachusetts Legislature and signed into law by Governor Maura Healey, the owner or operator of a qualified data center may now apply for a sales tax exemption… more

Construction Project, Data Centers, Economic Development, Infrastructure, Sales Tax

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UK Government Amends Employment Rights Bill and Issues Ethnicity and Disability Pay Gap Reporting Consultation

The UK government tabled large volume of amendments to the Employment Rights Bill throughout March 2025. Given the Bill’s significance, this LawFlash highlights some of the key changes under the Bill as it stands as of mid-March… more

Collective Bargaining, Disability Discrimination, Employee Rights, New Legislation, Pay Transparency

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Final Section 956 Regulations Follow Approach of Proposed Regulations—with Two Helpful Modifications

Final regulations applicable to controlled foreign corporations and their US shareholders, issued by the US Treasury under Code Section 956, generally follow previously proposed regulations but introduce two modifications: a new… more

Banking Sector, Controlled Foreign Corporations, Financial Services Industry, Section 956, Shareholders

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California Announces 2024 Substantial Increase in Computer Professional Exemption Compensation Rate

California employers must ensure that compensation rates for exempt computer professionals meet updated salary thresholds, as of January 1, 2024. The minimum wage thresholds for the California computer professional… more

Consumer Price Index, Department of Industrial Relations, Department of Labor (DOL), Employer Liability Issues, Fair Labor Standards Act (FLSA)

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One Big Beautiful Bill: Impact on Welfare Benefits

President Donald Trump signed the One Big Beautiful Bill (OBBB) into law on July 4, 2025. The OBBB is a wide-ranging piece of legislation that introduces significant reforms across multiple areas of federal policy, including… more

Dependent Care, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, HDHP

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Select Broker-Dealer Enforcement Cases and Developments: 2014 Year in Review

This Outline highlights key U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) and Financial Industry Regulatory Authority (“FINRA”) enforcement developments and cases regarding broker dealers.* The SEC… more

Broker-Dealer, Enforcement, Enforcement Actions, Municipal Securities Issuers, Securities and Exchange Commission (SEC)

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Supreme Court Limits American Pipe Tolling

The unanimous ruling in China Agritech, Inc. v. Resh, et al., reflects the US Supreme Court’s continued attempt to confine American Pipe tolling, denying such tolling for follow-on class actions filed after the expiration of… more

Appeals, China Agritech Inc v Resh, Class Action, Class Certification, Class Members

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New Tariffs, Old Risks: Antitrust Considerations

With regulatory scrutiny by governments on the rise, this LawFlash summarizes key antitrust issues for companies in all industries affected by tariffs. History shows that cartels tend to form in times of rapid economic change… more

Antitrust Provisions, Antitrust Violations, Competition Authorities, Enforcement Actions, Information Sharing

See all updates »

2016 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases… more

Anti-Money Laundering, Broker-Dealer, Conflicts of Interest, Custody Rule, Customer Protection Rule

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Rewind and (P)FAST Forward: Current Developments in PFAS Regulation

With a flurry of new regulatory activity involving per- and polyfluoroalkyl substances (PFAS), 2023 proved to be a milestone year for PFAS governance by the US Environmental Protection Agency (EPA). Among other key developments,… more

Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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EPA Extends PFAS Reporting Deadline Under Toxic Substances Control Act Once More

EPA’s May 13 interim final rule, which extended the start and end dates of the PFAS Toxic Substances Control Act Section 8(a)(7) reporting period for all manufacturers by nine months, was EPA’s second such extension to the rule,… more

Environmental Protection Agency (EPA), Filing Deadlines, Imports, Manufacturers, PFAS

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Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative… more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

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US Supreme Court: Nonconsensual Third-party Releases Impermissible Under Bankruptcy Code

The US Supreme Court ruled in a landmark 5-4 decision on June 27, 2024 that nonconsensual third-party releases, as proposed in Purdue Pharma’s bankruptcy plan, were not permissible under the Bankruptcy Code. A nonconsensual… more

Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Debtors, SCOTUS

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Legal Considerations for WHO’s ‘Possibly Carcinogenic’ Aspartame Classification

On July 14, 2023, the World Health Organization (WHO) published a summary of two findings regarding aspartame, an artificial sweetener found in many consumer products. One finding categorized aspartame as “possibly… more

Cancer, Commercial Insurance Policies, Duty to Defend, Food and Drug Administration (FDA), Food Labeling

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EPA Updates Model Remedial Design/Remedial Action Consent Decree and Statement of Work

The updated model of the remedial design/remedial action consent decree and statement of work seeks to streamline and quicken CERCLA settlement negotiations and address environmental justice concerns of Superfund sites in… more

CERCLA, Consent Decrees, Department of Justice (DOJ), Environmental Justice, Environmental Protection Agency (EPA)

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Essential Insurance Recovery Strategies for Retail and Energy Companies in a Year of Extreme Weather

The influx of severe weather events throughout 2024, including most recently Hurricane Helene, demonstrates the need for retail and energy companies to shore up commercial property and business interruption insurance. This… more

Business Interruption, Hurricane Season, Insurance Claims, Insurance Industry, Natural Gas

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One Big Beautiful Bill: Impact on Welfare Benefits

President Donald Trump signed the One Big Beautiful Bill (OBBB) into law on July 4, 2025. The OBBB is a wide-ranging piece of legislation that introduces significant reforms across multiple areas of federal policy, including… more

Dependent Care, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, HDHP

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Securities Enforcement Roundup – April 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from April 2025. In April 2025: Crypto Enforcement Activity and Developments… more

Cryptocurrency, Digital Assets, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Regulatory Reform

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Facilities & Residential Services: Opportunities & Challenges

The facilities and residential services industry continues to evolve, marked by M&A growth, complex workforce structures, and increasing regulatory demands. Our multidisciplinary team is deeply experienced in supporting private… more

Acquisitions, Domain Names, Independent Contractors, Mergers, NLRB

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New York State Year-End Legislative Developments for Employers to Know

New York recently enacted a number of laws and rules affecting New York employers, many of which took effect immediately. Some of these laws are significant, including changes to the confidentiality preference agreements… more

Corporate Counsel, Employee Rights, Employer Liability Issues, Employment Discrimination, Separation Agreement

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2016 Post-Election Report

President - While final vote tallies are still being counted in several battleground states, Republican Donald J. Trump has surpassed the 270 Electoral College vote threshold to be elected as the 45th president of the… more

Ballot Measures, Political Campaigns, Political Candidates, Presidential Elections, State and Local Government

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SEC Staff Greenlights Information Barriers as Alternative Approach to Rule 192 Compliance

The staff of the US Securities and Exchange Commission’s Division of Corporation Finance recently granted no-action relief for transactions under Securities Act Rule 192(a)(3)(iii) (commonly known as prong (iii)) where the… more

Asset-Backed Securities, Conflicts of Interest, Dodd-Frank, Final Rules, Financial Institutions

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Closing the Gap: Why Women’s Health Is Still Underfunded—And How to Bring About Change

During the week of the 2025 J.P. Morgan Healthcare Conference in San Francisco, life sciences partners Suzanne Filippi and Laurie Burlingame led a thought-provoking discussion with women leaders in the industry on the persistent… more

Innovation, Investment, Investors, Life Sciences, Medical Devices

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US Administration, Congress, and SEC and CFTC Leadership Push for Unified Digital Asset Framework

February 2025 has already proven to be a busy month in the congressional and US Securities and Exchange Commission public discourse regarding the digital assets sector. Members of the SEC and US Congress made significant… more

CFTC, Cryptoassets, Cryptocurrency, Digital Assets, FinTech

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FERC Issues Rule to Implement Revisions to PURPA Regulations

FERC has issued a final rule, Order No. 872, revising the Commission’s regulations governing qualifying small power producers and co-generators (collectively, qualifying facilities or QFs) under the Public Utility Regulatory… more

Electric Generation Suppliers, Energy Policy, Federal Power Act, FERC, Power Plants

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European Banking Authority Issues Recommendations for Outsourcing to Cloud Service Providers

European financial institutions (competent authorities, credit institutions, and investment firms as defined in EU Regulation No. 575/2013, collectively Institutions) have been instructed to comply with the European Banking… more

Banking Sector, Cloud Service Providers (CSPs), EU, European Banking Authority (EBA), Financial Institutions

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Amended Daniel’s Law Sparks Litigation and Business Implications

Daniel’s Law, a New Jersey privacy statute aimed at protecting public officials’ personal information from being disclosed online, has been on the books since 2020. But a slew of amendments made to Daniel’s Law in 2023 that… more

Covered Person, Data Brokers, Data Privacy, Personal Information

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DOJ and FTC Issue Antitrust Employment Law Guidelines on Eve of New Administration

In the final days of the Biden administration and on the eve of significant agency turnover, the US Department of Justice Antitrust Division (DOJ) and Federal Trade Commission (FTC) issued a new set of guidelines addressing how… more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Department of Justice (DOJ), Employment Contract

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Massachusetts Attorney General Issues Expansive ‘Junk Fees Rule’

The Attorney General of Massachusetts recently promulgated rules expanding the scope of its enforcement against alleged “junk fees,” including business practices for consumer subscriptions, renewals, and recurring charge… more

Consumer Protection Laws, Disclosure Requirements, Enforcement Actions, Fees, Final Rules

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New York’s Marijuana Regulation and Taxation Act: Employer Considerations

New York’s Marijuana Regulation and Taxation Act legalized recreational cannabis in New York State on March 31, 2021. While it will take some time to organize and implement many aspects of the law … more

Adverse Employment Action, Decriminalization of Marijuana, Disability Discrimination, Employment Policies, Marijuana

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Ultra Court Confirms Make-Whole Amount and Post-Petition Interest for OpCo Noteholders

The court awarded OpCo Noteholders in excess of $320 million in Make-Whole Amount and post-petition interest, confirming that make-whole is an enforceable liquidated damage claim… more

Bankruptcy Court, Liquidated Damages, Make-Whole Doctrine, Noteholders

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FINRA Again Seeks Information on Broker-Dealers’ Digital Asset Activities

In its continued efforts to learn what broker-dealers and their employees are doing in the digital asset space, FINRA has effectively reissued a regulatory notice requesting that broker-dealers keep FINRA apprised of their… more

Blockchain, Broker-Dealer, Cryptocurrency, Digital Assets, Financial Industry Regulatory Authority (FINRA)

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DOJ Criminal Division Launches Corporate Whistleblower Awards Pilot Program

The US Department of Justice’s (DOJ) Criminal Division on August 1 announced the details of its much-anticipated Corporate Whistleblower Awards Pilot Program. This three-year initiative aims to incentivize individuals to report… more

Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Securities and Exchange Commission (SEC)

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California Appellate Court Holds Web Access Claims Against Web-Only Businesses Fail Under ADA and Unruh Act

The California Court of Appeal, Second Appellate District, issued a decision on August 1 holding that websites without any connection to physical place of business are not “places of public accommodation” under Title III of the… more

Americans with Disabilities Act (ADA), Diversity Jurisdiction, Forum Shopping, Principal Place of Business, Public Accommodation

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CARB Calls on Motor Vehicle Industry to Self-Report Regulatory Violations

Citing recent investigations and new emissions detection capabilities, the California Air Resources Board (CARB) urges automakers and equipment manufacturers to voluntarily disclose potential violations of regulatory… more

Auto Parts, Automotive Industry, CARB, Enforcement Guidance, Environmental Policies

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Fifth Circuit Vacates SEC Private Fund Adviser Rules in Full

In a unanimous decision published on June 5, 2024, the US Court of Appeals for the Fifth Circuit vacated the entire set of regulations, including amendments to existing rules (collectively, the Rules), adopted by the US… more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds

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ADA Compliant Websites: Uptick in Litigation Against Financial Services Firms, Increased Regulatory Attention

Amid a notable recent uptick in website accessibility cases, both threatened and filed, against financial services companies alleging violations under the Americans with Disabilities Act (ADA) and/or similar state and local… more

Americans with Disabilities Act (ADA), Department of Justice (DOJ), Disability Discrimination, Public Accommodation, Securities and Exchange Commission (SEC)

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Court Limits FERC’s Authority to Direct Modifications Under Section 205

The court reaffirms that when reviewing a utility’s filing under Section 205, FERC may not “transform the proposal into an entirely new rate.”… more

Energy Sector, Federal Power Act, FERC, PJM, Section 205

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SEC Roundtable on Tokenization: Technology Meets Regulation in the Evolution of Capital Markets

The US Securities and Exchange Commission recently convened a public roundtable, Tokenization – Moving Assets Onchain: Where TradFi and DeFi Meet, the fourth in a five-part series hosted by its Crypto Task Force. The May 12… more

Blockchain, Capital Markets, Cryptocurrency, Digital Assets, FinTech

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The Regulatory Overlay On ESG Investing

This White Paper highlights the legal and regulatory considerations in the United States, the United Kingdom, the European Union, Hong Kong, and Singapore that asset managers and their institutional investor clients should… more

Best Practices, Business Plans, Business Strategies, Capital Investments, Corporate Governance

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ILPA Issues Guidance on Net Asset Value–Based Credit Facilities

The Institutional Limited Partners Association (ILPA) has released new guidance for limited partners (LPs) and general partners (GPs) on net asset value–based facilities (NAV Facilities). NAV-based lending, a type of financing… more

General Partnerships, Institutional Limited Partners Association (ILPA), Limited Partnership Agreements, Limited Partnerships

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Paying Salaries in Cryptocurrency in the UAE: A New Possibility?

A recent judgment from the Dubai Court of First Instance determined that part of an employee’s remuneration can be paid in cryptocurrency, but notably does not change the basic principle that cryptocurrencies cannot be the sole… more

Cryptocurrency, Digital Assets, Employer Liability Issues, International Labor Laws, United Arab Emirates (UAE)

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Current Developments in SEC Enforcement for Private Funds and a Look Ahead 2024–2025

In 2024, private funds continued to be a major focus for the US Securities and Exchange Commission (SEC), with an active docket of enforcement cases and rulemaking efforts. Although we expect 2025 to include a continued emphasis… more

Enforcement Actions, Fraud, Investment Funds, Investment Management, Private Equity Funds

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Burger King Has Its Way: Vegan Whopper Class Action Suit Dismissed

In an order issued on July 20, Judge Raag Singhal of the US District Court for the Southern District of Florida dismissed a class action lawsuit that claimed Burger King Corporation’s advertising deceived customers by making a… more

Advertising, Breach of Contract, Burger King, Class Action, Food Manufacturers

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Public Use and Estoppel Reexamined: Strategic Lessons from Ingenico

This LawFlash details strategic takeaways and practical lessons from the recent US Court of Appeals for the Federal Circuit case on IPR estoppel, evidence of public use, and jury instructions on specific issues… more

Appeals, Estoppel, Federal Rules of Civil Procedure, Inter Partes Review (IPR) Proceeding, Jury Instructions

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Increase in USERRA Issues Likely to Continue in 2025 and Beyond

Uniformed Services Employment and Reemployment Rights Act of 1994 issues are almost certain to increase under the incoming Trump-Vance administration, which has promised greater border enforcement and signaled that the National… more

Employer Liability Issues, Employment Policies, Military Leave, Military Service Members, USERRA

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US Supreme Court Holds Oral Argument on Securities Fraud Pleading Standards

The US Supreme Court held oral argument in NVIDIA Corp. v. E. Ohman J:or Fonder AB on November 13, 2024, considering the standards for pleading falsity and scienter under the federal securities laws. The Justices’ questioning… more

Oral Argument, Pleading Standards, SCOTUS, Securities Fraud, Securities Litigation

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US Supreme Court Rejects Heightened Standard for Proving FLSA Exemptions

The US Supreme Court issued a unanimous decision on January 15, 2025 in EMD Sales Inc. v. Carrera clarifying the evidentiary standard employers must meet to show that an employee is exempt from overtime and minimum wage… more

Appeals, Employer Liability Issues, Employment Litigation, Evidence, Exempt-Employees

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Leveraging Legal Expertise in M&A Transactions to Drive Business Success

Given the significance of strategic transactions such as mergers, acquisitions, or dispositions, it is likely that in-house counsel has competent external counsel that it can leverage to do much of the heavy lifting regarding… more

Acquisitions, Corporate Counsel, Mergers, Shareholders

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LA County Passes Fair Chance Ordinance on Employer Consideration of Criminal History

The County of Los Angeles has announced a new Fair Chance Ordinance, taking effect on September 3, 2024, that will regulate the consideration of criminal history information by employers with five or more employees in… more

Background Checks, Criminal Background Checks, Criminal Records, Employer Liability Issues, Fair Chance Act

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Reminder: New California Employment Regulations Go into Effect July 1

Employers with employees in California should review policies and practices regarding consideration of criminal history in employment decisions as well as protections on the basis of gender identity, gender expression, and… more

Ban the Box, Criminal Background Checks, Employer Liability Issues, Employment Policies, Gender Identity

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ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial… more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

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Navigating Labor and Employment Law Changes in the Aerospace and Defense Industry

The aerospace and defense industry operates in a complex regulatory environment in which labor and employment law is continuously evolving. Recent developments relating to the Uniformed Services Employment and Reemployment… more

Employee Rights, Employer Liability Issues, Federal Contractors, NLRB, Non-Compete Agreements

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CFPB Revokes Guidance in Sweeping Rollback of Agency Policies and Priorities

In a sweeping announcement, the Consumer Financial Protection Bureau (CFPB) revoked nearly 70 interpretive rules, advisory opinions, and guidance documents on May 12, 2025. The Federal Register Notice adds to the pullback on… more

Consumer Financial Protection Bureau (CFPB), Debt Collection, Enforcement Actions, Fair Credit Reporting Act (FCRA), Financial Institutions

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Legal Issues Facing Owners and Operators of Data Centers in Japan

As experienced investors in Japanese real estate know, the Tokutei Mokuteki Kaisha (TMK) is the Japanese entity used by most investors to acquire and hold large real estate assets due to its favorable tax treatment. It is also… more

Business Entities, Data Centers, Foreign Investment, Investment, Investors

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Foreign Direct Investment in Asia: Key Trends and Regulatory Considerations

Foreign direct investment (FDI) in Asia continues to expand, with jurisdictions across the region implementing diverse regulatory frameworks to attract and control foreign capital. Understanding the nuances of these regulations… more

China, Foreign Direct Investment, Foreign Investment, India, Indonesia

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FTC’s Click-to-Cancel Rule Vacated Ahead of Planned July 14 Effective Date

On July 8, 2025, a three-judge panel of the US Court of Appeals for the Eighth Circuit issued a per curiam opinion vacating the US Federal Trade Commission’s (FTC’s) Negative Option Rule (Click-to-Cancel) on Administrative… more

Administrative Procedure Act, Appeals, Consumer Protection Laws, Enforcement, Federal Trade Commission (FTC)

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COVID-19: Cares Act Provisions Impacting The Banking Sector

The Coronavirus Aid, Relief, and Economic Security (CARES) Act offers broad-based economic support for companies contending with the disruptions caused by the coronavirus (COVID-19) pandemic… more

CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus, Paycheck Protection Program (PPP)

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Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government… more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

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The Evolving Landscape of Third-Party Releases Post-Purdue

The Delaware Bankruptcy Court on September 25 issued a ruling in Smallhold that a creditor cannot be presumed to consent to a third-party release in a bankruptcy plan without clear, affirmative consent. This decision rules on… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Corporate Counsel

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US Administration Terminates Federal Office Leases Through General Services Administration

The widely reported directive tasking the US Department of Government Efficiency and the General Services Administration (GSA) with the termination of roughly 7,500 federal office leases nationwide will have far-reaching… more

Commercial Leases, Executive Orders, General Services Administration (GSA), Investors, Lenders

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Renewables Under the New Administration: Navigating an Uncertain Roadmap

Recent policy shifts at the federal level have introduced significant variability to the US renewable energy sector. While demand for clean energy continues to grow, executive orders, regulatory changes, and evolving legislative… more

Clean Energy, Electric Vehicles, Energy Policy, Energy Projects, Executive Orders

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COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for… more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

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New Opportunities for Investors in the Growing Women's Sports Sector

Investment in women’s sports has undergone a significant transformation in recent years, with the once underinvested market now commanding attention from sports fans and investors globally. The shift not only reflects the… more

Athletes, Investors, Sports, Women in Sports

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Florida’s New Immigration Law to Require Private Employers to Use E-Verify

Florida’s new immigration bill, effective July 1, will require private employers with 25 or more employees to verify compliance with US work authorization regulations through the E-Verify system. Previously, only public… more

E-Verify, Employer Liability Issues, Employment Eligibility Verification, Foreign Workers, Immigration Procedures

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Key Themes and Actionable Insights from Recent eDiscovery Case Law – Q4 2024

Recent developments in eDiscovery case law highlight significant trends legal counsel, eDiscovery professionals, and business leaders should keep an eye on, including the growing complexity of privilege assertions, the… more

Class Action, Data Management, Data Preservation, Discovery, e-Discovery

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FTC and USDA Promote Transparency in ‘Made in USA’ Labeling Claims

The Federal Trade Commission (FTC) recently issued a final rule that marks a major shift in the regulatory landscape for labeling that has already begun to impact other regulatory bodies—namely, the US Department of Agriculture… more

Country of Origin, Federal Trade Commission (FTC), Final Rules, FTC Act, Made in the USA

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Football Governance Act Passes into Law, Establishing Independent Football Regulator

The Football Governance Act, introducing a new regulatory framework and independent football regulator for the top five tiers of men’s football in England, has now passed as legislation. This LawFlash sets out some of the final… more

Dispute Resolution, Football, Governance Standards, New Legislation, Regulatory Authority

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Texas Federal Court ‘Sets Aside’ FTC’s Noncompete Clause Rule

Judge Ada Brown of the US District Court for the Northern District of Texas entered a final judgment in Ryan LLC v. Federal Trade Commission (FTC) on August 20, 2024, holding unlawful and setting aside the FTC Noncompete Clause… more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

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Financial Institutions Face Investigations and Possible Referral to DOJ Based on Past ‘Debanking’ Practices

An executive order signed by the US president on August 7, 2025, titled Guaranteeing Fair Banking for All Americans, seeks to prohibit financial institutions from engaging in “debanking” practices, such as denying services or… more

Banking Sector, BSA/AML, Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ), ECOA

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What’s Driving the Future of Asia’s Tech Scene: Key Trends and Regulatory Updates

Heading into 2023, Asia’s tech scene is well-positioned for strong growth potential. As with any industry where advancement and innovation are outpacing regulation, the complex landscape can be difficult for businesses to… more

Asia, CFIUS, Data Privacy, Digital Assets, Due Diligence

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USPTO Withdraws Proposed Terminal Disclaimer Rule

The United States Patent and Trademark Office (USPTO) has withdrawn a proposed rule for filing terminal disclaimers to overcome obviousness-type double patenting rejections. The proposed rule would likely have had wide… more

Double Patent, Intellectual Property Protection, Obviousness, Patents, USPTO

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New Executive Order Aims to Accelerate Development of Data Centers

The White House has issued an executive order dated July 23, 2025, aimed at accelerating the federal permitting process for data center infrastructure. This latest directive from the US administration is intended to facilitate… more

Data Centers, Energy Projects, Environmental Policies, Executive Orders, Government Agencies

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Securities Enforcement Roundup – June 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from June 2025. In June 2025: Overall, we continue to see the SEC and other regulators focus on interactions… more

Cryptocurrency, Department of Justice (DOJ), Enforcement Actions, Final Rules, Foreign Corrupt Practices Act (FCPA)

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SEC Focus on the Life Sciences Industry: What to Expect and How to Prepare

The life sciences sector remains a critical area of focus for the US Securities and Exchange Commission (SEC) under the current administration. Companies operating in the healthcare, pharmaceutical, biotechnology, and medical… more

Biotechnology, Cybersecurity, Disclosure Requirements, Financial Fraud, Insider Trading

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Securities Enforcement Roundup – June 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from June 2025. In June 2025: Overall, we continue to see the SEC and other regulators focus on interactions… more

Cryptocurrency, Department of Justice (DOJ), Enforcement Actions, Final Rules, Foreign Corrupt Practices Act (FCPA)

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Regulatory Shifts in Aerospace and Defense: What Businesses Need to Know as 2025 Takes Flight

The aerospace and defense industry is facing a rapidly shifting legal landscape in 2025, shaped by regulatory updates, enforcement trends, and geopolitical considerations. With increased scrutiny on foreign investments,… more

CFIUS, Compliance, Cybersecurity, Department of Justice (DOJ), DFARS

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New Executive Order Aims to Accelerate Development of Data Centers

The White House has issued an executive order dated July 23, 2025, aimed at accelerating the federal permitting process for data center infrastructure. This latest directive from the US administration is intended to facilitate… more

Data Centers, Energy Projects, Environmental Policies, Executive Orders, Government Agencies

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Environmental Regulation Under the New Administration: Key Shifts and Implications for Industry

The first few months of the new US administration have brought sweeping changes to the country’s environmental regulatory landscape. Through a spate of executive orders, agency directives, and staffing restructurings, the… more

Clean Energy, Climate Change, Energy Policy, Environmental Justice, Executive Orders

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Changes in Delaware Trade Name and DBA Registrations Slated for Early 2026

Effective February 2, 2026, significant changes will be implemented in the process of registering fictitious names, trade names, and doing business as names (collectively trade names) in Delaware. These changes are designed to… more

Business Licenses, Delaware, Filing Deadlines, Filing Requirements, Government Agencies

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FDA’s Shifting Stance on Public Disclosure of NDA and BLA Complete Response Letters – How Far Will It Go?

The US Food and Drug Administration has announced a renewed focus on a long-considered issue—whether FDA should release complete response letters (CRLs) issued to drug or biologic applicants. Specifically, on July 10, 2025 FDA… more

Biosimilars, Disclosure Requirements, FDA Approval, Food and Drug Administration (FDA), Pharmaceutical Industry

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Assessing Your Health Plan’s Service Provider Compensation

Based on new ERISA disclosure rules, now is a good time to review the compensation paid to your health plan’s consultant and broker. ERISA Section 408(b)(2)(B) requires brokers and consultants expecting $1,000 or more in direct… more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

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2026 World Cup: Navigating Labor, Employment, and Immigration Challenges

The 2026 Men’s World Cup is expected to draw in a substantial cross-border workforce, meaning participating employers should prepare ahead of time if they want to successfully navigate this global event--including with respect… more

Employer Liability Issues, Foreign Workers, Immigrants, Immigration Procedures

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Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative… more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

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Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

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

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Trade Secrets in the Automotive Industry

As recent innovations in automotive technology continue to fuel unprecedented growth across the industry, companies must adapt their privacy and confidentiality capabilities to safeguard highly valuable trade secrets. With… more

Automotive Industry, Best Practices, Confidential Information, Data Security, Defend Trade Secrets Act (DTSA)

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NRC NEPA Overhaul: Agency Plans to Amend Regulations in 10 CFR Part 51

The Commission recently issued a Staff Requirements Memorandum (SRM) directing NRC Staff to revise the NRC’s National Environmental Policy Act of 1969 (NEPA) regulations at 10 CFR Part 51 and update related NRC guidance and… more

Environmental Assessments, Environmental Impact Statements, Environmental Review, NEPA, New Regulations

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Deadline for Filing BE-180 Approaches for US Financial Service Providers

As the US Department of Commerce seeks certain financial services data from an expanded list of US financial services providers, most US fund managers, investment advisers, private funds, and registered investment companies will… more

BE-180, BEA, Filing Deadlines, Financial Regulatory Reform, Financial Services Industry

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Could Sponsoring a Pooled Employer Plan Grow Your Business?

While large financial institutions with significant expertise in retirement plan administration are widely expected to sponsor most pooled employer plans (PEPs), other firms (such as franchisors, gig economy employers, joint… more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), PEP

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California's New PAGA Bill: Key Changes and Implications for Employers

The State of California significantly overhauled the Labor Code Private Attorneys General Act of 2004 (PAGA) with the recent enactment of Assembly Bill 2288 and Senate Bill 92. This LawFlash summarizes some of the key provisions… more

Employer Liability Issues, Labor Code, Private Attorneys General Act (PAGA), State Labor Laws, Wage and Hour

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Navigating the Evolving Landscape of State Consumer Privacy Laws

With the flurry of new consumer privacy laws enacted in states across the country, it is vital for companies operating in multiple states to remain informed of this changing landscape in order to plan and execute their… more

Consumer Privacy Rights, Cybersecurity, Data Collection, Data Privacy, Data Protection

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Cartels, TCOs, ‘Instrumentalities of a Government’: Reassessing FCPA Risk Amid Shifting US Enforcement Priorities

Whether cartels do or do not qualify as “instrumentalities of a government” under current FCPA law or based on the AG’s forthcoming revised FCPA guidance, their entanglement with corrupt officials and influence over local… more

Bribery, Cartels, Corruption, Department of Justice (DOJ), Due Diligence

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Second Circuit 'Shuts the Door' on Meta Pixel VPPA Claims

The US Court of Appeals for the Second Circuit has repeatedly affirmed dismissals of putative class actions brought under the Video Privacy Protection Act (VPPA) based on the use of third-party tracking technologies. The Second… more

Appeals, Class Action, Data Privacy, Facebook, Litigation Strategies

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The Lowdown on IPOs: Key Takeaways for Founders & Investors in High Growth Companies

In the context of a global economic slowdown, heightened market volatility, geopolitical changes, and adjustments in monetary policy, the global initial public offering (IPO) market in Q3 2024 warrants a sense of cautious… more

Corporate Governance, Initial Public Offering (IPO), PCAOB, Shareholders

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SCOTUS Punts on Remedy for Unconstitutional Chapter 11 Quarterly Fee Increase

Earlier this year, we highlighted the US Supreme Court’s grant of certiorari in Siegel v. Fitzgerald (In re Circuit City Stores, Inc.) to determine whether a 2017 statute that increased Chapter 11 quarterly fees was… more

Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Constitutional Challenges, Fees

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State Attorneys General Step Up Antitrust Enforcement

State attorneys general are playing an increasingly prominent role in shaping the antitrust enforcement landscape in the United States. With a combination of expanded authority, increased funding, strategic collaboration, and a… more

Algorithms, Antitrust Litigation, Antitrust Violations, Environmental Social & Governance (ESG), Healthcare

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One Big Beautiful Bill: Impact on Welfare Benefits

President Donald Trump signed the One Big Beautiful Bill (OBBB) into law on July 4, 2025. The OBBB is a wide-ranging piece of legislation that introduces significant reforms across multiple areas of federal policy, including… more

Dependent Care, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, HDHP

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following:… more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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Dont Forget to Invite the Committee to the Party Fiduciary Committees as Parties to a Vendor Contract

In many situations, practitioners recommend establishing a fiduciary committee to oversee ERISA-covered employee benefit plans. There are several reasons for this, including providing a well-defined process for decision-making;… more

Benefit Plan Sponsors, Contract Terms, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

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Upcoming Deadlines to Dispute California Property Tax Valuation for 2025

For California property owners that could potentially reduce their property taxes with a decline-in-value assessment appeal, the property tax assessment appeals for 2025 are due by either September 15 or December 1 depending on… more

Assessment, California, Filing Deadlines, Property Tax, Property Valuation

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ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial… more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

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UK Employment Law 2024 Year in Review and a Look Forward to 2025 Webinar: Key Takeaways

The UK Employment Rights Bill introduces expanded worker protections, including stronger day-one rights and stricter requirements for preventing workplace harassment. Employers will also need to navigate upcoming national wage… more

Artificial Intelligence, Diversity and Inclusion Standards (D&I), Employee Rights, Employment Discrimination, Employment Litigation

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California Law Requiring Disclaimers by Healthcare Providers Using GenAI Will Affect Providers and GenAI Developers

The Artificial Intelligence in Healthcare Services Bill, signed into law by Governor Gavin Newsom, imposes new requirements on California healthcare providers that use generative artificial intelligence tools to generate patient… more

Artificial Intelligence, Governor Newsom, Health Care Providers, Machine Learning, Physicians

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New York State 2024 Employment Law Legislative Developments

New York enacted a number of laws and rules in 2024 that will impact New York employers in 2025—many of which, including New York’s Paid Prenatal Leave Law, certain wage and hour developments, and changes to New York Paid Family… more

Department of Labor (DOL), Employee Benefits, Employee Rights, Minimum Wage, New Legislation

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UK Life Sciences Sector Plan: What In-House Legal and Compliance Teams Need to Know

The UK government recently unveiled its 10-year Life Sciences Sector Plan, putting forward a comprehensive strategy for transforming the UK into a global leader in life sciences by 2035. This LawFlash outlines key areas of… more

Biotechnology, Clinical Trials, Data Privacy, Intellectual Property Protection, Investment

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Thanks For (Less Than) Nothing

Section 72001 of the FAST Act and the SEC’s interim final rule. In a December 2015 LawFlash, we addressed several provisions of the Fixing America’s Surface Transportation Act (“FAST Act”) that relate to the federal… more

Fixing America’s Surface Transportation Act (FAST Act), Form 10-K, Interim Rule, Securities and Exchange Commission (SEC)

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Securities Enforcement Roundup – January 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from January 2025. In January 2025: The US Securities and Exchange Commission (SEC) announced the… more

Broker-Dealer, Compliance, Cryptoassets, Cryptocurrency, Digital Assets

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The Future of College Sports: A Monetary and Regulatory Maze

Following the House v. NCAA settlement, which provides for backpay and permits revenue sharing with student athletes, Division I colleges and universities are grappling with regulatory, compliance, and financial challenges that… more

Employee Benefits, Fair Labor Standards Act (FLSA), Immigration Procedures, Name and Likeness, NCAA

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Institutional Shifts in College Sports: Private Equity, Athlete Pay, and Legal Risk

College sports are undergoing a seismic shift as commercial activity accelerates and athlete compensation evolves. With the approval of the House vs. NCAA settlement and a surge in private investment, the traditional model of… more

Antitrust Provisions, College Athletes, Compliance, Investment, Name and Likeness

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Federal Reserve Bank Publishes Paper on ‘Extend-and-Pretend’ Workouts

The Federal Reserve Bank of New York released a paper last week analyzing the effects of “extend-and-pretend” mortgage modifications on the broader financial system. Since the first quarter of 2022, banks have extended the… more

Banking Sector, Banks, Commercial Real Estate Market, Federal Reserve, Mortgages

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In Split Decision, Federal Circuit Invalidates Diagnostic Method Patent

A split panel of the US Court of Appeals for the Federal Circuit held on February 6 that claims to an assay for diagnosing myasthenia gravis are not patent eligible because they are directed to a natural law. The majority… more

Life Sciences, Patent-Eligible Subject Matter, Patents

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New York State 2024 Employment Law Legislative Developments

New York enacted a number of laws and rules in 2024 that will impact New York employers in 2025—many of which, including New York’s Paid Prenatal Leave Law, certain wage and hour developments, and changes to New York Paid Family… more

Department of Labor (DOL), Employee Benefits, Employee Rights, Minimum Wage, New Legislation

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Federal Court Blocks FDA’s Final Rule on LDTs: Key Considerations for Clinical Labs

The US District Court for the Eastern District of Texas issued a pivotal ruling in the consolidated lawsuit American Clinical Laboratory Association v. US Food and Drug Administration (FDA) challenging FDA’s final rule to end… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Clinical Laboratories, Food and Drug Administration (FDA), Judicial Authority

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‘One Big Beautiful Bill Act’: Key Final Medicaid Changes Explained

The One Big Beautiful Bill Act was signed into law on July 4 and includes significant changes to the Medicaid program, particularly with regard to state and federal financing for the program. This LawFlash provides a high-level… more

Centers for Medicare & Medicaid Services (CMS), Federal Funding, Health Care Providers, Healthcare Reform, Immigrants

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Staying Resilient Amid Global Tariff Uncertainty

From reciprocal tariffs and retaliatory investigations to paused agreements and looming re-escalations, the global tariff landscape remains as turbulent as ever. Morgan Lewis recently hosted a three-part webinar series examining… more

China, Enforcement Actions, EU, Risk Management, Supply Chain

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DOJ's Data Security Program Enforcement in Full Swing: Key Considerations for Companies

The US Department of Justice’s (DOJ’s) final rule implementing Executive Order (EO) 14117, Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern went into… more

China, Cybersecurity, Data Privacy, Data Security, Department of Justice (DOJ)

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SEC Adopts New Private Fund Adviser Rules with Nuanced Application to Non-US Advisers

The US Securities and Exchange Commission (SEC) recently adopted sweeping new rules under the Investment Advisers Act of 1940 (Advisers Act) that apply in certain circumstances to non-US advisers to private investment funds… more

Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds, Securities and Exchange Commission (SEC)

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Securities Enforcement Roundup – July 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from July 2025. In July 2025: As part of its FINRA Forward program, FINRA CEO Robert Cook announced a new… more

Administrative Procedure Act, Appeals, Broker-Dealer, Conflicts of Interest, Cryptoassets

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New Jersey ‘Mansion Tax’ Changes Impose Higher Transaction Costs on Commercial and Residential Real Estate Sales

Recent revisions to New Jersey law increase the so-called “mansion tax” for sales in excess of $2 million and shift the tax payment obligation to the seller. Governor Phil Murphy recently signed legislation making substantial… more

Buyers, New Jersey, New Legislation, Real Estate Transactions, Real Estate Transfers

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UK Government Updates Tax Regime for Carried Interest

As part of the Autumn Statement, the UK government on 30 October 2024 announced a reform of its taxation of carried interest. This follows a call for evidence on the reform of the UK taxation treatment of carried interest in… more

Capital Gains, Capital Gains Tax, Carried Interest, Income Taxes, Tax Planning

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Current Developments in SEC Enforcement for Public Companies and a Look Ahead 2024–2025

The US Securities and Exchange Commission (SEC) brought a number of notable enforcement proceedings against public companies in fiscal year 2024, which ended September 30, 2024, and into the first quarter of fiscal year 2025. We… more

Corporate Governance, Corporate Misconduct, Enforcement Actions, Investors, Publicly-Traded Companies

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Corporate Transparency Act Update: Beneficial Ownership Reporting in Tax Equity Transactions

Regulations recently coming into effect under the Corporate Transparency Act (CTA) may impose new beneficial ownership reporting obligations on clean energy tax equity partnerships and joint ventures. The rules now require… more

Beneficial Owner, Corporate Transparency Act, FinCEN, Popular, Reporting Requirements

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Colorado’s Proposed Teen Privacy Rules Signal New Era of State-Led Regulation

The Colorado Attorney General’s Office recently released proposed rule amendments to the Colorado Privacy Act (CPA) that, if adopted, would create some of the most robust protections for minors’ online data in the United States… more

Biometric Information, Colorado, Consent, COPPA, Data Privacy

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Expert Testimony May Be Limited if ‘Confidential’ Information Is Withheld Under Section 6103

Expert witnesses can be critical to defending a tax position—but what happens when an expert must maintain confidentiality over information that is important to their analysis? Preserving this confidentiality while ensuring a… more

Confidential Communications, Discovery, Evidence, Expert Testimony, Federal Rules of Civil Procedure

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New York Labor Law Amendment Limits Damages for ‘Frequency-of-Pay’ Violations

New York recently passed an amendment to New York Labor Law (NYLL) § 198(1-a) that significantly limits the available damages for a violation of NYLL § 191(1)(a) in a “frequency-of-pay” lawsuit… more

Amended Legislation, Damages, Employees, Employer Liability Issues, Employment Litigation

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Class Action Litigation Over Massachusetts Lie Detector Statute Surges: What Employers Need to Know

Massachusetts employers are increasingly being targeted in a growing wave of class action litigation under the commonwealth’s longstanding law G.L. c. 149, § 19B. In relevant part, the law requires that all job applications “for… more

Class Action, Damages, Employee Rights, Employer Responsibilities, Employment Litigation

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UK Corporate Insolvency and Governance Act 2020: Protection for Cape Town-Registered Interests

The Corporate Insolvency and Governance (CIG) Act 2020, which was enacted on 25 June 2020, introduces a number of permanent changes to the insolvency and restructuring framework in the United Kingdom, some of which have specific… more

Aircraft Equipment, Airlines, Aviation Industry, Cape Town Convention, Corporate Governance

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Preparation is Key When Selling a Business: What to Know

After years of dedication to building a business, the time has come to consider selling. The process of selling can be complex, but taking the time to prepare before listing a business for sale or engaging with potential buyers… more

Acquisitions, Buyers, Due Diligence, Sellers, Selling a Business

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NYSE Amendments to Trading Halt Rules for Reverse Stock Splits Effective May 11

The New York Stock Exchange’s (NYSE) amendments to NYSE Rule 123D (Rule 123D) (Halts in Trading) will become effective on May 11, 2024. The amendments to Rule 123D (NYSE Amendments) provide for a regulatory halt to trading at… more

Amended Rules, NYSE, Reverse Stock Splits, Securities and Exchange Commission (SEC), Stock Splits

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the… more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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Companies Committing to Corporate Sustainability

The scope of commitments by corporations involving their own sustainability efforts around the globe has markedly accelerated this year. About 300 companies have signed on to the RE100 initiative, which brings together… more

Carbon Emissions, Climate Change, Energy Projects, Environmental Social & Governance (ESG), Greenhouse Gas Emissions

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Sudden Termination of European and International Established Commercial Relations: Overview of Claiming Compensation in France

The sudden termination of a business relationship between a French company and a foreign company may lead to compensation being awarded to the company that has suffered the termination. However, in an international or European… more

Breach of Contract, Commercial Litigation, Contract Disputes, Contract Termination, Dispute Resolution

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State and Local Survey of Laws Regulating Escooter Sharing Services

The growth and use of electric scooters (escooters) for personal transportation has exploded over the last several years. Much of this growth has been driven by escooter sharing companies, which, rather than pursuing a model of… more

Critical Infrastructure Sectors, E-Scooters, Educational Institutions, Green Transportation, Innovative Technology

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Captive Insurance Opportunities and Solutions Post-COVID-19

Companies with coronavirus (COVID-19)-related losses and legacy liabilities may appreciate significant additional tax benefits from funding those legacy liabilities through a captive insurer before the end of this year… more

Business Interruption, Business Losses, Captive Insurance Company, Coronavirus/COVID-19, Insurance Claims

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A Union of Innovation? The EU Strategy for Startups and Scale-ups

The European economy is currently under a considerable structural adjustment pressure. Against the backdrop of rapid technological change, diverse geopolitical tensions, an increasing shortage of skilled workers, and global… more

Competition, EU, Financing, Innovation, Investment

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Tokenized Funds, The Next Investment Trend? Regulatory Developments in the UK, EU, and UAE

There has been a growing trend among traditional funds and asset managers to launch programs to tokenize alternative assets. The main benefits of tokenizing funds include increased liquidity and accessibility, heightened… more

Asset Management, Blockchain, Cryptocurrency, Distributed Ledger Technology (DLT), Financial Markets

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Blockbuster Biologics Review | Issue 27

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to… more

Biosimilars, Intellectual Property Litigation, Inter Partes Review (IPR) Proceeding, New Legislation, Patent Litigation

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Ninth Circuit Ruling Confirms Strength of the Eliminating Kickbacks in Recovery Act

Since its enactment in 2018, the Eliminating Kickbacks in Recovery Act (EKRA) has rapidly gained momentum as a powerful tool against healthcare kickbacks. By 2020, the US Department of Justice (DOJ) had already secured its first… more

Anti-Kickback Statute, Appellate Courts, Department of Justice (DOJ), Eliminating Kickbacks in Recovery Act of 2018 (EKRA), Enforcement Actions

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New Texas Laws Expand Sexual Harassment Liability for Employers and Individuals

Texas has expanded sexual harassment protections for employees in the workplace beyond those offered under federal law. As of September 1, 2021, individuals and all employers (including those with only one employee) may now face… more

Anti-Harassment Policies, Corrective Actions, Employer Liability Issues, Employment Policies, Hostile Environment

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State & Federal Public Records Laws: An Often-Overlooked Discovery Tool

Information and document requests under the Freedom of Information Act and analogous state public records laws can be powerful and relatively inexpensive tools in a party’s litigation toolbox and are not only reserved for… more

Administrative Procedure Act, Artificial Intelligence, Discovery, Evidence, FOIA

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Facilities & Residential Services: Opportunities & Challenges

The facilities and residential services industry continues to evolve, marked by M&A growth, complex workforce structures, and increasing regulatory demands. Our multidisciplinary team is deeply experienced in supporting private… more

Acquisitions, Domain Names, Independent Contractors, Mergers, NLRB

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Current Developments in SEC Enforcement for Private Funds and a Look Ahead 2024–2025

In 2024, private funds continued to be a major focus for the US Securities and Exchange Commission (SEC), with an active docket of enforcement cases and rulemaking efforts. Although we expect 2025 to include a continued emphasis… more

Enforcement Actions, Fraud, Investment Funds, Investment Management, Private Equity Funds

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected… more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

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Private Equity Investments in the Sports Arena: A Growing Opportunity

In recent years, the sports industry has become an increasingly attractive area for investment, driven by new opportunities, evolving regulations, and a growing global fan base. As private equity firms, sovereign wealth funds,… more

Acquisitions, Digital Assets, Investment, Investment Funds, Private Equity

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New SEC Guidance Eases Burden in Rule 506(c) Accredited Investor Verification Requirements

SEC staff issued no-action guidance on Rule 506(c) of Regulation D private securities offerings on March 12, 2025, which should provide issuers with an easier path to rely on Rule 506(c) and solicit and advertise their private… more

Accredited Investors, Investment, Investors, Private Funds, Private Investment Funds

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OCC’s Updated Guidance on Retail Nondeposit Investment Products

The Office of the Comptroller of the Currency (OCC) recently released an updated and substantially revised section of its Comptroller’s Handbook titled “Retail Nondeposit Investment Products” (the Booklet). The Booklet replaces… more

Banking Sector, Banks, Guidance Update, Industry Examinations, OCC

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One Big Beautiful Bill Act Tax Proposals: Select Highlights and Implications

The US House of Representatives on May 22, 2025 passed the One Big Beautiful Bill Act (the Act), which includes a tax package that would extend certain provisions of the 2017 Tax Cuts and Jobs Act set to expire at the end of… more

Clean Energy, Energy Policy, Energy Sector, Inflation Reduction Act (IRA), Investment Funds

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GENIUS Act Passes in US Congress: A Breakdown of the Landmark Stablecoin Law

The US House of Representatives passed the Guiding and Establishing National Innovation for US Stablecoins Act, or the “GENIUS Act,” on July 17, 2025, sending the landmark legislation to President Donald Trump for his signature… more

Anti-Money Laundering, Blockchain, Cryptocurrency, Digital Assets, Financial Regulatory Reform

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Illinois Supreme Court Holds Healthcare Employee Fingerprint Data Exempt from BIPA

In the first win for defendants facing Illinois Biometric Information Privacy Act (BIPA) litigation before the Illinois Supreme Court, the Court in Mosby v. Ingalls Memorial Hospital held that BIPA excludes from its protections… more

Biometric Information, Biometric Information Privacy Act, Data Collection, Data Privacy, Fingerprints

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False Claims Act Enforcement Continues to Target Education Industry

A recent settlement agreement presents another example of how educational institutions can find themselves facing potential liability under the False Claims Act (FCA). The settlement illustrates how FCA liability remains a risk… more

False Claims Act (FCA), Health Care Providers, Medicaid, Medicare

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DOJ Announces Establishment of Civil Rights Fraud Initiative

The US Department of Justice announced the establishment of the Civil Rights Fraud Initiative on May 19, 2025, which will “utilize the False Claims Act to investigate and, as appropriate, pursue claims against any recipient of… more

Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), Educational Institutions, Enforcement Actions, Executive Orders

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US Supreme Court Clarifies Venue Rules Under the Clean Air Act

The US Supreme Court in EPA v. Calumet Shreveport clarified where challenges to certain US Environmental Protection Agency actions under the Clean Air Act must be filed. The Court split the difference between competing… more

Appellate Courts, Clean Air Act, Environmental Policies, Environmental Protection Agency (EPA), Judicial Review

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Early Results of USPTO’s New Climate Change Mitigation Pilot Program

The United States Patent and Trademark Office launched the Climate Change Mitigation Pilot Program last year to incentivize the filing of patent applications that cover technologies directed to climate change mitigation. With… more

Intellectual Property Protection, Patent Litigation, Patent Trial and Appeal Board, Patents, USPTO

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IRS Guidance on Uncashed and Reissued Checks: An Opportunity to Review Payment Practices

In a release that was fairly unsurprising in content, the Internal Revenue Service issued Revenue Ruling 2025-15 to address a payor’s tax withholding and reporting obligations with respect to stale and reissued retirement plan… more

Benefit Plan Sponsors, Internal Revenue Code (IRC), IRS, Reporting Requirements, Retirement Plan

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Navigating Change: Innovation, Policy, and Market Shifts in the Automotive Industry

The automotive industry is undergoing a period of rapid transformation, driven by advancements in electric vehicle (EV) technology, artificial intelligence (AI), and digital connectivity amid shifting trade policies and evolving… more

Artificial Intelligence, Automotive Industry, Electric Vehicles, Innovation, Regulatory Requirements

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California's New PAGA Bill: Key Changes and Implications for Employers

The State of California significantly overhauled the Labor Code Private Attorneys General Act of 2004 (PAGA) with the recent enactment of Assembly Bill 2288 and Senate Bill 92. This LawFlash summarizes some of the key provisions… more

Employer Liability Issues, Labor Code, Private Attorneys General Act (PAGA), State Labor Laws, Wage and Hour

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Key Considerations for Restructuring Investment in China

Geopolitical tensions have increasingly impacted business operations in China, prompting multinational companies to adopt contingency strategies, including spin-offs or restructuring. These efforts present both challenges and… more

China, Corporate Restructuring, Foreign Investment, Merger Controls, Taxation

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Bipartisan Majorities in Two House Committees Vote to Advance the Digital Asset Market CLARITY Act of 2025

On June 10, 2025, bipartisan majorities of the House Committees on Financial Services and on Agriculture (Committees) voted to advance the Digital Asset Market Clarity Act of 2025 (CLARITY Act)… more

CFTC, Commodities, Crypto Exchanges, Cryptocurrency, Digital Assets

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Facilities & Residential Services: Opportunities & Challenges

The facilities and residential services industry continues to evolve, marked by M&A growth, complex workforce structures, and increasing regulatory demands. Our multidisciplinary team is deeply experienced in supporting private… more

Acquisitions, Domain Names, Independent Contractors, Mergers, NLRB

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SECURE Act 2.0: Impact on ESOPs

The SECURE 2.0 Act of 2022 (SECURE Act 2.0) makes far-reaching changes to the US retirement plan system. Our initial SECURE Act 2.0 LawFlash provided a general overview of its significant provisions. This blog post—one in our… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP, Labor Regulations

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New York AG Launches Easy-to-Use Online Filing Portal for State Charities

New York Attorney General Letitia James has announced the launch of an easy-to-use online filing portal for charities to file required state annual financial disclosures. The new system will use e-signatures and electronic… more

Annual Filings, Charitable Organizations, E-Filing, E-Signatures, Filing Deadlines

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Act to Modernize the Law on Civil Law Partnerships: Transparency Obligations for Family Companies

The Act to Modernize the Law on Civil Law Partnerships (MoPeG) came into force on January 1, 2024, bringing comprehensive reform to the law of civil law partnerships (GbR). Since family-owned companies (also known as family… more

Disclosure Requirements, EU, Family Businesses, Shareholders, Transparency

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A New Line Drawn: Federal Circuit Applies Prosecution History Disclaimer to Design Patents

The US Court of Appeals for the Federal Circuit recently issued a decision that held for the first time that principles of prosecution history disclaimer apply to design patents, aligning design patent law more closely with… more

CAFC, Corporate Counsel, Design Patent, Patent Applications, Patent Infringement

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A New Era for the PTAB: Discretion Returns, Layoffs Loom, and Early Challenges Encouraged

The USPTO has launched a sweeping recalibration of its post-grant proceedings at the PTAB, signaling a decisive pivot back toward discretionary denials of patent challenges. With the rescission of prior procedural guidance, a… more

Inter Partes Review (IPR) Proceeding, Litigation Strategies, Patent Invalidity, Patent Litigation, Patent Trial and Appeal Board

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California ‘Pink Tax’ Law Prohibits Gender-Based Pricing of Consumer Products

Dear Retail Clients and Friends: Starting January 1, 2023, a new law in California will prohibit higher prices for products marketed to a particular gender. The law specifically takes aim at higher prices on products marketed… more

Gender Discrimination, Gender Neutral, New Legislation, Price Discrimination, Retailers

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UK Supreme Court Confirms Post-Sale Context Is a Basis for Trademark Infringement

The UK Supreme Court recently handed down judgement in the case of Iconix Luxembourg Holdings SARL v. Dream Pairs Europe Inc. The decision has provided important clarity on the question of whether post-sale confusion is… more

Appellate Courts, Brand, Intellectual Property Protection, Likelihood of Confusion, Trademark Infringement

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Reminder: California Noncompete Deadline Is February 14

Besides being Valentine’s Day, February 14, 2024 is an important day for employers with any California employees: It is the last day for employers to notify California employees (including former employees who were employed… more

California, Employer Liability Issues, Employment Contract, Non-Compete Agreements, Restrictive Covenants

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CFPB Finalizes Delay of Mandatory Compliance Date for General Qualified Mortgage Final Rule

On April 27, 2021, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a final rule formally delaying the mandatory compliance date for the rule defining a “qualified mortgage” (QM) (the General QM Final Rule) from… more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Cooperative Compliance Regime, Financial Regulatory Reform

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The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private… more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

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Practical Applications of Recent USPTO Patent Eligibility Examples

The United States Patent and Trademark Office (USPTO) has released new guidance on patent subject matter eligibility (the Guidance), with a particular focus on artificial intelligence (AI) and related technologies. As noted by… more

Intellectual Property Protection, Inventions, Patent Applications, Patents, USPTO

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EU AI Act Compliance: 10 Key Steps for Providers and Deployers of AI Systems

The European Union’s new AI Act (the Act) went into efect on 1 August 2024. The Act is the first-ever comprehensive law focused on artifcial intelligence and machine learning (collectively, AI). The Act impacts many… more

Artificial Intelligence, Corporate Counsel, EU, General Data Protection Regulation (GDPR), Innovative Technology

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IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

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Tariff-Related Commercial Litigation: What Businesses Need to Know About Force Majeure Clauses & Common Law Defenses

Faced with ongoing tariff uncertainty, companies in the United States and abroad are grappling with the consequences of existing or forthcoming trade duties for their businesses. Exacerbating this uncertainty, companies’… more

Commercial Litigation, Contract Disputes, Contract Terms, Countervailing Duties, Force Majeure Clause

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Debtors Need Not Apply? Continuing Developments on the SBA’s Authority to Deny PPP Loans to Debtor Applicants

The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the… more

Bankruptcy Code, CARES Act, Commercial Bankruptcy, Coronavirus/COVID-19, Debtors

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Face Coverings and Gloves On: New Jersey Orders New Worksite Social Distancing and Infection Control Measures

As New Jersey continues to battle the spread of coronavirus (COVID-19), Governor Phil Murphy ordered essential businesses in the state to adopt several measures including mandatory face coverings at worksites, occupancy limits… more

Best Practices, Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Crisis Management, Emergency Management Plans

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Morgan Lewis Automotive & Mobility – Q1 2021

Welcome to the 27th edition of our newsletter on developments in the automotive industry published by Morgan Lewis’s automotive and mobility team with contributions from lawyers in our offices around the globe. We counsel our… more

Antitrust Provisions, Automotive Industry, Connected Cars, Corporate Sales Transactions, Driverless Cars

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Morgan Lewis Spark Q2 - 2021 - Russian

Morgan Lewis Spark – это ежеквартальный обзор, освещающий нововведения и изменения российского законодательства, имеющие важное значение для компаний, работающих в российских секторах энергетики и добычи полезных ископаемых. Мы… more

Climate Change, Electricity, Energy Projects, Energy Sector, Greenhouse Gas Emissions

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SEC Releases Interpretations on Ransomware Attacks and Payment Disclosures

The US Securities and Exchange Commission (SEC), Division of Corporation Finance on June 24, 2024 issued five Compliance and Disclosure Interpretations (C&DIs) on its website to address questions raised by its requirement for… more

Cyber Incident Reporting, Cybersecurity, Form 8-K, Ransomware, Securities and Exchange Commission (SEC)

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Hong Kong Stock Exchange Welcomes Specialist Tech Companies Under New Chapter 18C

The Hong Kong Stock Exchange (HKEx) announced on March 24, 2023 that eligible specialist technology companies (STCs) at the pre-commercial or early commercial stage can apply for listing on the HKEx under the new Chapter 18C of… more

Capital Markets, Corporate Governance, HKEx, Hong Kong, Hong Kong Stock Exchange

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US Supreme Court Considers Whether Classes with Uninjured Members Can Be Certified

The US Supreme Court held oral arguments in Laboratory Corporation of America Holdings d/b/a Labcorp v. Davis, et al. to consider the issue of whether a federal court can certify a class when some of the members of the proposed… more

Americans with Disabilities Act (ADA), Appeals, Article III, Class Action, Class Certification

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Private Funds Year in Review: Key Tax Developments That Shaped the Industry in 2024

In 2024, several significant tax developments emerged that are set to impact the private fund industry in 2025. These changes include pivotal US Tax Court (Tax Court) opinions, updates to Internal Revenue Service (IRS) forms,… more

Internal Revenue Code (IRC), Investment Funds, IRS, Private Equity Funds, Private Funds

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AI and Algorithmic Pricing: 2025 Antitrust Outlook and Compliance Considerations

While algorithmic pricing has been used in many industries for decades, the rapid development of artificial intelligence (AI) technology has led antitrust enforcers—including federal agencies and state attorneys… more

Algorithms, Antitrust Litigation, Antitrust Provisions, Artificial Intelligence, Competition

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The Introduction of Commercial Courts and Commercial Chambers in Germany

On April 1, 2025, the Act to Strengthen the Judicial System (Justizstandort-Stärkungsgesetz – Strengthening Act) came into force. This Act authorizes the federal states to establish specialized chambers for commercial matters at… more

Arbitration, Commercial Court, Commercial Litigation, Dispute Resolution, Germany

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US Supreme Court to Hear International Case Involving Alleged Price Fixing

Potentially impacting the reach of US antitrust enforcement, the Court will determine standards to apply in considering a foreign government's legal statement concerning the interpretation of its domestic law in price fixing and… more

China, Corporate Counsel, MOFCOM, Price-Fixing, SCOTUS

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Singapore High Court Allows Creditor’s Challenge Against Liquidator's Admission of Another Creditor's Proof of Debt

In the recent case of Park Hotel Group Management Pte Ltd v Aw Eng Hai (in his capacity as a joint and several liquidator of Park Hotel CQ Pte Ltd (in liquidation) and others [2025] SGHC 97, the General Division of the High… more

Business Litigation, Commercial Leases, Commercial Litigation, Contract Disputes, Creditors

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EMEA Private Equity: A Look Ahead at 2024

The private equity industry has faced a number of challenges over the last year: we have seen interest rate rises in response to greater inflationary pressure including increasing labor, transport, and energy costs, the… more

Acquisitions, Investment, Investors, Private Equity, Private Equity Firms

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Federal Circuit Clarifies IPR Estoppel Burden

A recent Federal Circuit opinion clarified that patent owners carry the burden of proving that inter partes review (IPR) estoppel applies to invalidity grounds not included in their IPR petitions. The Federal Circuit also… more

§315(e), Burden of Proof, Estoppel, Inter Partes Review (IPR) Proceeding, Patent Litigation

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Japan Continues to Relax Registration Requirements – Simplified Type 1 FIBO Registration

Japanese regulators have been significantly amending the Financial Instruments and Exchange Act (FIEA), similar to other jurisdictions seeking to innovate and relax regulatory requirements in order to help spur economic activity… more

Asset Management, Capital Markets, Financial Institutions, Fund Managers, Investment Funds

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European Commission Publishes Proposed Amendments to the EU Securitisation Regulation

The European Commission published its proposals for amendments to the EU Securitisation Regulation on 17 June 2025. These proposals are of significant importance for securitisation market participants… more

Capital Requirements, Disclosure Requirements, EU, European Commission, Financial Markets

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COVID-19: LA City Council Approves Ordinances on Sick Leave and Retail and Delivery Workers

The Los Angeles City Council held an emergency meeting on March 27 in response to the coronavirus (COVID-19) crisis and approved several ordinances, including one pertaining to sick leave and another relating to retail and… more

Business Closures, Coronavirus/COVID-19, Critical Infrastructure Sectors, Grocery Stores, On-Demand Services

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HHS Signals GRAS Reform: How Food Manufacturers Can Prepare Now

Ingredient suppliers and food manufacturers face an uncertain supply chain landscape in which “generally recognized as safe” (GRAS) self-determinations may be more closely scrutinized. The US Department of Health and Human… more

Department of Health and Human Services (HHS), Food & Drug Regulations, Food Manufacturers, Food Safety, GRAS

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The Landmark Defend Trade Secrets Act of 2016

The Defend Trade Secrets Act of 2016 (DTSA) amends the Economic Espionage Act of 1996, which provides for federal criminal penalties for foreign economic espionage and trade secret theft and adds new federal civil trade secret… more

Asset Seizure, Defend Trade Secrets Act (DTSA), Economic Espionage Act, Ex Parte, Misappropriation

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US Awaits Substantial Changes to Title IX Regulations – Will They Apply to You?

Despite popular belief that Title IX applies only to higher education institutions, the regulations interpreting Title IX—and court decisions analyzing and applying those regulations—apply the statute much more broadly. This… more

Colleges, Department of Education, Educational Institutions, Federal Funding, OCR

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Update to Economic Substance Regulations in the UAE

The United Arab Emirates (UAE) Cabinet of Ministers has recently issued updated Economic Substance Regulations which repeal and replace those previously announced. These are: the Ministry of Finance Resolution No. 57 of 2020,… more

Economic Substance Doctrine, Licensing Rules, Regulatory Requirements, United Arab Emirates (UAE)

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Last-Minute Amendments Proposed to UK Employment Rights Bill

Shortly before the UK Employment Rights Bill was expected to be signed into law, a significant number of amendments were proposed. This LawFlash outlines the key points for employers to note based on the latest amendments, an… more

Bereavement Leave, Confidentiality Agreements, Hiring & Firing, Non-Disclosure Agreement, Pregnancy

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Financial Institutions Face Investigations and Possible Referral to DOJ Based on Past ‘Debanking’ Practices

An executive order signed by the US president on August 7, 2025, titled Guaranteeing Fair Banking for All Americans, seeks to prohibit financial institutions from engaging in “debanking” practices, such as denying services or… more

Banking Sector, BSA/AML, Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ), ECOA

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving… more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

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China Issues New National Standard on Security Requirements for Sensitive Personal Information

The State Administration for Market Regulation and the Standardization Administration of China have jointly issued a new national standard applicable to companies conducting business in China, GB/T 45574-2025, Data Security… more

China, Consent, Data Collection, Data Privacy, Data Security

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Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative… more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

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China’s Highest Court Highlights Guidance on Termination Certificate Guidelines Set by Appellate Court

The Supreme People’s Court of the People’s Republic of China (PRC) recently confirmed guidance on the contents of termination certificates, which employers in the PRC are required to issue to evidence the end of an employment… more

China, Employer Liability Issues, Employment Contract, Hiring & Firing, Termination

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Federal Circuit: 2D Depiction of 3D Article Can Satisfy Written Description in a Design Patent

The recent ruling in In re Maatita means that a two-dimensional drawing of a three-dimensional object may meet the enablement and definiteness requirements for a design patent… more

Corporate Counsel, Design Patent, Indefiniteness, Patent Applications, Patent Trial and Appeal Board

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EPA Releases Final Risk Evaluation for 1,4-Dioxane

The US Environmental Protection Agency’s controversial final risk evaluation for 1,4-dioxane found unreasonable risks to workers and occupational non-users for 13 out of 24 use conditions, but no unreasonable risks to the… more

Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances, Public Health, Risk Assessment

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Tax Reform Legislation Addresses UBIT and Segregation of UBTI Investments

Adopting the Senate’s approach, tax reform legislation will not require governmental pension plans to be subject to unrelated business income tax, and tax-exempt entities subject to tax on unrelated business taxable income will… more

Business Taxes, Tax Exempt Entities, Tax Reform, UBIT

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Department of Energy Predicts Substantial Impact From Fracking Ban

The US Department of Energy submitted a report to the president last month on “Economic and National Security Impacts under a Hydraulic Fracturing Ban.” This 80-page report analyzed the effects of a hypothetical United States… more

Biden Administration, Department of Energy (DOE), Energy Policy, Energy Reform, Environmental Liability

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Medicare Part D Creditable Coverage Online Disclosure Due March 1

Each year, employers that provide prescription drug coverage to Medicare-eligible individuals through a group health plan must complete a two-step process regarding the prescription drug coverage they offer to active employees… more

Centers for Medicare & Medicaid Services (CMS), Disclosure Requirements, Employee Benefits, Health Insurance, Medicare

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CFPB Issues Final Rule on Personal Financial Data Rights

Almost exactly a year after issuing a Notice of Proposed Rulemaking (NPRM) on Personal Financial Data rights, on October 22, 2024 the Consumer Financial Protection Bureau (CFPB) issued its final Rule under Section 1033 of the… more

Consumer Financial Products, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Dodd-Frank, Financial Services Industry

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Temporary Reprieve for New Short Sale Reporting on Form SHO; Filings not Due Until 2026

The date for complying with new Rule 13f-2 and filing Form SHO has been extended by one year. The first filings by covered institutional investment managers will now be due February 17, 2026, rather than February 14, 2025… more

Financial Institutions, Investment Adviser, Regulatory Requirements, Reporting Requirements, Securities and Exchange Commission (SEC)

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SGX RegCo Proposes Independent Director Tenure Limits, Director and CEO Pay Disclosure

The Singapore Exchange Regulation (SGX RegCo) published a public consultation paper proposing to amend the Listing Rules to impose a hard nine-year limit on the tenure of independent directors, removing the current two-tier… more

Board of Directors, CEOs, Corporate Governance, Independent Directors, Listing Rules

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Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true… more

Investment, Investors, Japan, Limited Partnerships, Partnerships

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Update: New Decree Allows Certain Russian Companies to Remove Voting Rights of Minority Shareholders and Directors from Unfriendly States

Russian President Vladimir Putin adopted Decree No. 16 on January 17, allowing Russian companies to change their corporate decision-making so that minority shareholders from the so-called “unfriendly states” (or those controlled… more

Board of Directors, Corporate Governance, Minority Shareholders, Russia, Shareholders

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Key Themes and Actionable Insights from Recent eDiscovery Case Law – Q1 2025

Recent eDiscovery rulings from the first quarter of 2025 reveal courts grappling with redaction practices, cross-border data transfer tensions, evolving artificial intelligence (AI) usage in litigation, and increasing… more

Artificial Intelligence, Corporate Counsel, Cross-Border, Data Collection, Data Preservation

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

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Developments in SEC and FINRA Enforcement and Exams for Investment Advisers and Broker-Dealers: 2024–2025

The US Securities and Exchange Commission (SEC) brought a number of significant enforcement proceedings against investment advisers and broker-dealers in FY 2024 and during the first quarter of FY 2025. If history serves as a… more

Broker-Dealer, Compliance, Enforcement Actions, Financial Services Industry, Fraud

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Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true… more

Investment, Investors, Japan, Limited Partnerships, Partnerships

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DOL QPAM Notification Deadline of September 15 Fast Approaching

The amendments to the QPAM Exemption include a September 15, 2024 notification deadline that will apply to many asset managers. This blog post includes a brief summary of the US Department of Labor’s (DOL’s) recent technical… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions, Individual Retirement Account (IRA)

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US Supreme Court to Decide Fate of FCA’s Implied Certification Theory

Supreme Court grants certiorari in qui tam case to consider viability and scope of the “implied certification” theory of liability under the False Claims Act. On December 4, the US Supreme Court granted certiorari in… more

Certiorari, False Claims Act (FCA), Federal Contractors, Implied Certification, Qui Tam

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The COVID-19 Test for Compensation Committees

Compensation Committees are addressing whether compensation should be adjusted to reflect the effect of the coronavirus (COVID-19) pandemic on companies’ businesses and how to correlate executive compensation with changing… more

Compensation Committee, Coronavirus/COVID-19, Executive Compensation, Publicly-Traded Companies

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DOJ Shifts Focus of Enforcement Efforts to Tariff Evasion

As the US administration has imposed and modified tariffs on key trading partners, the US Department of Justice has turned its focus to criminally prosecuting companies and individuals for tariff evasion… more

Criminal Prosecution, Customs and Border Protection, Department of Justice (DOJ), Enforcement Actions, False Claims Act (FCA)

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EPA Finalizes New Enforceable National Drinking Water Regulation

On April 10, 2024, the US Environmental Protection Agency (EPA) finalized its highly anticipated new rule aimed at reducing the level of certain per- and polyfluoroalkyl substances (PFAS) in drinking water. The final rule is not… more

Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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New UK Corporate Offence: The ‘Failure to Prevent Fraud’

The recent passage of the Economic Crime and Corporate Transparency Act 2023 marked a significant moment in the UK government’s commitment to improving its economic crime legislative framework with the aim to deter and further… more

Corporate Crimes, Corporate Entities, Corporate Transparency Act, Financial Crimes, Fraud

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New Modifications to the Proposition 65 Regulations

The modifications significantly change both the AG’s Regulations and OEHHA’s Clear and Reasonable Warnings provisions. California’s Office of Administrative Law recently approved important changes to two sets of Proposition 65… more

Amended Regulation, Manufacturers, OEHHA, Proposition 65, Retailers

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Facilities & Residential Services: Opportunities & Challenges

The facilities and residential services industry continues to evolve, marked by M&A growth, complex workforce structures, and increasing regulatory demands. Our multidisciplinary team is deeply experienced in supporting private… more

Acquisitions, Domain Names, Independent Contractors, Mergers, NLRB

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German Federal Fiscal Court Questions Practice of Imposing Double Real Estate Transfer Tax on Share Deals

In proceedings to suspend enforcement, the German Federal Fiscal Court has expressed serious doubts about the administrative practice of imposing double real estate transfer tax in share deals. In particular, the court believes… more

Acquisitions, Germany, Real Estate Holding Companies, Real Estate Transactions, Real Estate Transfers

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SEC and CFTC Adopt Amendments to Form PF

On February 8, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC and, together with the SEC, the Commissions) voted to adopt amendments to Form PF1 that will impact the required… more

CFTC, Form PF, Investment Adviser, Investors, Private Equity

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Securities Enforcement Roundup – April 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from April 2025. In April 2025: Crypto Enforcement Activity and Developments… more

Cryptocurrency, Digital Assets, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Regulatory Reform

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Understanding China’s New Company Law: What Foreign Investors Need to Know

The amended Company Law of China (the New Company Law) took effect on July 1, 2024, making substantial changes to existing rules in a wide range of areas including, among others, new timeline requirements for capital… more

Business Entities, China, Corporate Governance, Foreign Investment, Investors

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Nasdaq Proposes Stricter Delisting Rules for Noncompliance with Minimum Bid Price Requirement

The Nasdaq Stock Market LLC (Nasdaq) recently filed with the Securities and Exchange Commission (SEC) the proposed amendments to its rules regarding the delisting of penny stocks (i.e., shares with bid price below $1.00), aiming… more

Delisting, Nasdaq, Noncompliance, Securities and Exchange Commission (SEC)

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‘Mini-HSR’ Acts Take Effect in Washington and Colorado, with Similar Legislation Pending in Other States

Colorado and Washington state recently became the first states to adopt their own smaller versions of the Hart-Scott-Rodino Antitrust Improvements (HSR) Act. These “mini-HSR” state laws require certain parties that submit… more

Antitrust Provisions, Filing Requirements, Hart-Scott-Rodino Act, Merger Controls, Merger Reviews

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State and Local Survey of Laws Regulating Escooter Sharing Services

The growth and use of electric scooters (escooters) for personal transportation has exploded over the last several years. Much of this growth has been driven by escooter sharing companies, which, rather than pursuing a model of… more

Critical Infrastructure Sectors, E-Scooters, Educational Institutions, Green Transportation, Innovative Technology

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New SEC Guidance Eases Burden in Rule 506(c) Accredited Investor Verification Requirements

SEC staff issued no-action guidance on Rule 506(c) of Regulation D private securities offerings on March 12, 2025, which should provide issuers with an easier path to rely on Rule 506(c) and solicit and advertise their private… more

Accredited Investors, Investment, Investors, Private Funds, Private Investment Funds

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CFPB Finalizes Qualified Mortgage Changes

The Consumer Financial Protection Bureau (Bureau or CFPB) issued two final rules on December 10 with significant implications for the mortgage marketplace. Of the two final rules from the Bureau, one drastically simplifies the… more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Regulatory Reform, Financial Services Industry

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UK Life Sciences Sector Plan: What In-House Legal and Compliance Teams Need to Know

The UK government recently unveiled its 10-year Life Sciences Sector Plan, putting forward a comprehensive strategy for transforming the UK into a global leader in life sciences by 2035. This LawFlash outlines key areas of… more

Biotechnology, Clinical Trials, Data Privacy, Intellectual Property Protection, Investment

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Employers Can Aid Wildfire Victims with Out-of-Pocket Expenses, Paid Leave, and Through Tax-Exempt Organizations

Many individuals are in desperate need of funds due to injuries, damage, and other unexpected expenses caused by the ongoing wildfires in Los Angeles. Employers can aid wildfire victims with tax-free payments, paid leave, and… more

Corporate Counsel, Disaster Aid, Employee Benefits, Employees, Employment Policies

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New Jersey Declares Hair Discrimination Unlawful

New Jersey Governor Phil Murphy recently signed legislation under the New Jersey Law Against Discrimination expanding the definition of “race” to cover “traits historically associated with race,” including hair texture, hair… more

Dress Codes, Employer Liability Issues, Employment Discrimination, Employment Policies, Hairstyle Discrimination

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Family Offices Investing in Impact

Family offices are increasingly seeking to use their assets to achieve financial returns and build a legacy that aligns with their deeply held values. Traditional approaches to philanthropy have been used for generations by… more

Investment, Investment Adviser, Investment Opportunities, Investors, Securities and Exchange Commission (SEC)

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New NLRB Acting General Counsel’s Actions and Increased White House Oversight Signal Shift in Enforcement

National Labor Relations Board Acting General Counsel William B. Cowen on February 14, 2025 changed the course of the agency’s strategic goals by rescinding more than a dozen memos penned by former General Counsel Jennifer… more

Enforcement Actions, Executive Orders, Labor Reform, Labor Relations, NLRA

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UK Economic Crime and Corporate Transparency Act: Additional Changes to Roll Out in 2025

Following the implementation of the Economic Crime and Corporate Transparency Act 2023, Companies House enacted some initial changes over the course of 2024 to improve transparency and ensure the accuracy of the information on… more

Anti-Money Laundering, Beneficial Owner, Corporate Counsel, Corporate Governance, Corporate Transparency Act

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Developments in SEC and FINRA Enforcement and Exams for Investment Advisers and Broker-Dealers: 2024–2025

The US Securities and Exchange Commission (SEC) brought a number of significant enforcement proceedings against investment advisers and broker-dealers in FY 2024 and during the first quarter of FY 2025. If history serves as a… more

Broker-Dealer, Compliance, Enforcement Actions, Financial Services Industry, Fraud

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New York State Senate Introduces Bill that Would Ban Non-Compete Agreements

At the end of the 2023 New York legislative session, Senator Paul Ryan introduced a bill to broadly ban non-compete agreements in the state. While the bill passed the New York State Senate and Assembly, Governor Kathy Hochul… more

Employee Rights, Employment Contract, Employment Litigation, New Legislation, New York

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State & Federal Public Records Laws: An Often-Overlooked Discovery Tool

Information and document requests under the Freedom of Information Act and analogous state public records laws can be powerful and relatively inexpensive tools in a party’s litigation toolbox and are not only reserved for… more

Administrative Procedure Act, Artificial Intelligence, Discovery, Evidence, FOIA

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IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

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California Appellate Court Holds Web Access Claims Against Web-Only Businesses Fail Under ADA and Unruh Act

The California Court of Appeal, Second Appellate District, issued a decision on August 1 holding that websites without any connection to physical place of business are not “places of public accommodation” under Title III of the… more

Americans with Disabilities Act (ADA), Diversity Jurisdiction, Forum Shopping, Principal Place of Business, Public Accommodation

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Supreme Court Denies Certiorari Petition in Madden Case

Although it is reasonably unlikely that other circuit courts will follow the Second Circuit decision, it is uncertain whether application of the Madden case in the Second Circuit will be confined to its facts… more

Appeals, Banking Sector, Choice-of-Law, Credit Cards, Debt Buyers

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SEC Adopts Further Money Market Fund Reforms

The US Securities and Exchange Commission (Commission) adopted amendments to the rule governing money market funds on July 12, 2023 in an attempt to address concerns about institutional prime and institutional tax-exempt (i.e.,… more

Amended Rules, Final Rules, Money Market Funds, Reporting Requirements, Securities and Exchange Commission (SEC)

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The Turning Tide of Energy Storage: A Global Opportunity and Regulatory Roadmap for 2024

This report comes to you at the turning of the tide for energy storage: after two years of rising prices and supply chain disruptions, the energy storage industry is starting to see price declines and much-anticipated supply… more

Energy Projects, Energy Sector, Energy Storage, Renewable Energy, Solar Energy

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Electric Utilities Affected by Recent EPA Regulation May Benefit from Legacy Liability Insurance Policies

The US Environmental Protection Agency (EPA) on May 8, 2024 expanded the obligations of coal-fired power plants to remediate coal ash-related groundwater impacts with amendments to the federal Coal Combustion Residual (CCR)… more

Environmental Protection Agency (EPA), Groundwater, Insurance Industry, Water

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Taxation of Royalties Under New Tax Code of Kazakhstan

This LawFlash summarizes the taxation of royalties in accordance with the new Tax Code of Kazakhstan that will come into effect in January 2026. The definition of “royalty” has been slightly modified in the new Tax Code… more

Exceptions, Kazakhstan, Royalties, Software, Tax Code

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Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

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

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2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,… more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

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2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,… more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

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The Project Financing Outlook for Global Energy Projects in 2025

Both the US and global energy storage markets have experienced rapid growth over the last year and are expected to continue expanding rapidly in order to support grid resiliency. Through 2030, the global energy storage market is… more

Clean Energy, Construction Industry, Energy Projects, Energy Storage, Investment

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‘Mini-HSR’ Acts Take Effect in Washington and Colorado, with Similar Legislation Pending in Other States

Colorado and Washington state recently became the first states to adopt their own smaller versions of the Hart-Scott-Rodino Antitrust Improvements (HSR) Act. These “mini-HSR” state laws require certain parties that submit… more

Antitrust Provisions, Filing Requirements, Hart-Scott-Rodino Act, Merger Controls, Merger Reviews

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Names Rule Amendments Will Require Changes For Certain Funds

On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping… more

Amended Rules, Investment Companies, Investment Company Act of 1940, Securities and Exchange Commission (SEC)

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Courts Diverge in Challenges to CMS's Minimum Staffing Requirements for LTC Facilities

On May 10, 2024, the Centers for Medicare and Medicaid Services (CMS) published its Final Rule to implement minimum staffing standards for long-term care (LTC) facilities in the United States. However, as discussed in our prior… more

Administrative Procedure Act, Appeals, Centers for Medicare & Medicaid Services (CMS), Final Rules, Healthcare Facilities

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From Checkout to Crisis – Subcontractor Risk in Retail Contracts

Today’s retail operations depend on far more than the products on store shelves or the design of an ecommerce site. Behind the scenes, a fulfilment provider may rely on regional couriers, a payment processor on a cloud host, and… more

Contract Management, Contract Terms, Data Protection, Data Security, Liability

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Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational… more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

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Litigation Risks Under the DC Consumer Protection Procedures Act: Defense Strategies and Mitigation

In recent years, public interest organizations have increasingly turned to the District of Columbia’s Consumer Protection Procedures Act (CPPA) to bring legal challenges against companies over their public environmental and… more

Consumer Protection Laws, Discovery, Environmental Litigation, Greenwashing, Injunctive Relief

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Religious Accommodations: Us Supreme Court Heightens Undue Hardship Standard

The US Supreme Court issued a unanimous decision on June 29, 2023 in Groff v. DeJoy, revising the standard for undue hardship in the context of religious discrimination claims brought under Title VII. The Court held that an… more

Civil Rights Act, De Minimus Doctrine, Employer Liability Issues, Equal Employment Opportunity Commission (EEOC), Groff v DeJoy

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Prosecutors Record First-Ever Conviction for ‘Spoofing’: A New Era of Trading Enforcement

Asset managers and other traders should expect aggressive anti-spoofing enforcement and consider reviewing their trading practices in light of this most recent development. On November 3, 2015, a federal jury in Chicago,… more

Algorithmic Trading, CFTC, Department of Justice (DOJ), Disruptive Trading Practices, Enforcement Actions

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Institutional Shifts in College Sports: Private Equity, Athlete Pay, and Legal Risk

College sports are undergoing a seismic shift as commercial activity accelerates and athlete compensation evolves. With the approval of the House vs. NCAA settlement and a surge in private investment, the traditional model of… more

Antitrust Provisions, College Athletes, Compliance, Investment, Name and Likeness

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Minneapolis and Washington State Impose ‘Fair Chance’ Requirements on Employers That Consider Criminal History

Minneapolis and Washington state have amended their antidiscrimination laws to provide new employment protections for individuals with criminal histories and to impose new procedural requirements on employers who consider… more

Criminal Background Checks, Employment Discrimination, Hiring & Firing, New Legislation, State Labor Laws

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Courts Invalidate President’s IEEPA Tariffs, But Stays Keep Duties on Imports—for Now

The US Court of International Trade and the US District Court for the District of Columbia have invalidated President Donald Trump’s actions imposing tariffs pursuant to the International Emergency Economic Powers Act of 1977;… more

Appeals, Constitutional Challenges, Imports, Injunctions, International Emergency Economic Powers Act (IEEPA)

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Executive Order Halts Offshore Wind Leasing, Orders Review of Federal Leasing and Permitting Practices for Wind Projects

The Trump-Vance administration issued an executive order temporarily halting offshore wind leasing and calling for a review of the federal governmental leasing and permitting practices for all wind projects… more

Clean Energy, Energy Policy, Energy Sector, Environmental Policies, Executive Orders

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Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative… more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

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The Lowdown on IPOs: Key Takeaways for Founders & Investors in High Growth Companies

In the context of a global economic slowdown, heightened market volatility, geopolitical changes, and adjustments in monetary policy, the global initial public offering (IPO) market in Q3 2024 warrants a sense of cautious… more

Corporate Governance, Initial Public Offering (IPO), PCAOB, Shareholders

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California Expands Diversity Requirements for Public Company Boards

California Governor Gavin Newsom on September 30 signed into law Assembly Bill No. 979, which requires publicly held companies headquartered in California to have a minimum number of directors from “underrepresented… more

Board of Directors, Corporate Governance, Diversity, Diversity and Inclusion Standards (D&I), Gender Equity

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Stick to the (ERISA) Plan

The backbone of a fiduciary’s duties is the written plan document: understanding the key terms and adhering to them provides a bulwark against fiduciary breach. ERISA Sections 402(a)(1) and 404(a)(1)(d) require that every… more

Breach of Duty, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Retirement

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Fifth Circuit Vacates SEC Private Fund Adviser Rules in Full

In a unanimous decision published on June 5, 2024, the US Court of Appeals for the Fifth Circuit vacated the entire set of regulations, including amendments to existing rules (collectively, the Rules), adopted by the US… more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds

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IRS Proposes Long-Term, Part-Time Employee Regulations

On November 24, 2023, the Internal Revenue Service (IRS) proposed long-awaited regulations providing guidance on the required coverage of long-term, part-time employees (LTPTEs) under the Setting Every Community Up for… more

401k, Employee Benefits, Employer Liability Issues, Full-Time Employees, IRS

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2021 Year in Review: Automotive Industry

In 2021, the automotive industry was awash in change— driven by investment trends, new goals set by the Biden-Harris administration, and international electric vehicle–focused developments. Looking back, 2021 will be viewed as a… more

Automotive Industry, Biden Administration, Clean Energy, Compliance, Department of Justice (DOJ)

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New Jersey ‘Mansion Tax’ Changes Impose Higher Transaction Costs on Commercial and Residential Real Estate Sales

Recent revisions to New Jersey law increase the so-called “mansion tax” for sales in excess of $2 million and shift the tax payment obligation to the seller. Governor Phil Murphy recently signed legislation making substantial… more

Buyers, New Jersey, New Legislation, Real Estate Transactions, Real Estate Transfers

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The Road Ahead: DFSA Seeks Market Feedback on the DIFC Credit Fund Regime

The Dubai Financial Services Authority (DFSA) has issued a consultation paper (CP 158) relating to proposed amendments to its Collective Investment Rules (CIR), which includes one proposed change in relation to credit funds, and… more

DFSA, DIFC, Dubai, Financial Services Industry, Investment Funds

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Sovereign Wealth Funds in the Sports Arena

Over the last decade, sovereign wealth funds (SWFs) have emerged as influential and active players across a range of global asset classes. Most recently, the spotlight has turned to an unlikely but increasingly strategic… more

Acquisitions, Financial Institutions, Foreign Investment, Geopolitical Risks, Investment

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New UAE Merger Control Thresholds Now Effective

This LawFlash sets out the key features of the new UAE merger control regime, which recently came into effect. In December 2023, the United Arab Emirates introduced a new competition law (Competition Law), implementing a… more

Acquisitions, Competition, Filing Requirements, Merger Controls, Mergers

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New York State Senate Introduces Bill that Would Ban Non-Compete Agreements

At the end of the 2023 New York legislative session, Senator Paul Ryan introduced a bill to broadly ban non-compete agreements in the state. While the bill passed the New York State Senate and Assembly, Governor Kathy Hochul… more

Employee Rights, Employment Contract, Employment Litigation, New Legislation, New York

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Supreme Court Narrows Scope of Judicial Review Under NEPA

After nearly two decades of silence, the US Supreme Court on May 29, 2025, weighed in on an issue that has tremendous significance for permitting of complex infrastructure and other development projects—the depth and breadth of… more

Energy Projects, Environmental Impact Statements, Infrastructure, Judicial Review, NEPA

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Navigating Legal Risk and Compliance Across the Nuclear Energy Sector

As the nuclear energy sector enters a period of renewed growth, companies face a complex array of legal, regulatory, and operational challenges. From liability frameworks governing radiation exposure to evolving enforcement… more

Artificial Intelligence, Department of Energy (DOE), Department of Justice (DOJ), Employee Benefits, False Claims Act (FCA)

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The POWER Act: A New Era of Worker Protections in Philadelphia

The Philadelphia City Council unanimously passed the Protect Our Workers, Enforce Rights Act (POWER Act) on May 8, 2025, setting a new standard for worker protections for more than 750,000 workers in Philadelphia. Applicable to… more

Department of Labor (DOL), Employee Rights, Enforcement Actions, Labor Reform, New Legislation

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US Supreme Court to Weigh In on Tennessee’s Durational Residency Requirements for Wine Retailers

The US Supreme Court is expected to rule this summer in Tennessee Wine & Spirit Retailers Ass’n v. Blair, which marks the first time in 14 years that the Court has taken up a case involving the wine industry. One hundred years… more

Constitutional Challenges, Out-of-State Companies, Retailers, SCOTUS, Twenty-First Amendment

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PBGC Issues Final Regulation on Multiemployer Pension Plan Special Financial Assistance

The Pension Benefit Guaranty Corporation has issued a Final Rule implementing the special financial assistance provisions of the American Rescue Plan Act to help financially troubled multiemployer pension plans. The Final Rule… more

American Rescue Plan Act of 2021, Employee Benefits, Final Rules, Financial Assistance Policies, Multiemployer Plan

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FDA’s New Priority Voucher Program for Drug Developers Ties Incentives to Defined National Interests

The US Food and Drug Administration recently announced the launch of a regulatory incentive program pilot program, the Commissioner’s National Priority Voucher Program (CNPVP), designed to reward drug and biologic sponsors that… more

Biologics, Food and Drug Administration (FDA), Investigational New Drug Application (IND), Life Sciences, Manufacturers

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US Announces New Restrictions on Export of Luxury Goods to Russia

Dear Retail Clients and Friends, President Joseph Biden issued Executive Order 14068 on March 11 expanding prohibitions on trade with Russia and announcing new restrictions on Russian imports, exports, and investments—including… more

Belarus, Bureau of Industry and Security (BIS), Economic Sanctions, Executive Orders, Export Controls

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One Year Out from World Cup 2026: Key Considerations

As organizations prepare for the 2026 Men’s World Cup, co-hosted across 16 North American cities, it is vital for such entities to begin weighing several key considerations to ensure a successful and compliant event. This… more

Anti-Corruption, Contract Terms, Employment Contract, Foreign Workers, Immigration Procedures

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Executive Order Seeks to Limit State Role in Energy Regulation

The US administration issued the executive order “Protecting American Energy from State Overreach” on April 8, 2025, directing the US Attorney General to identify and challenge state- and local-level energy and climate policies… more

Climate Change, Constitutional Challenges, Energy Policy, Energy Sector, Environmental Policies

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The US Corporate Transparency Act Compliance Deadline is Approaching: What Companies Need to Know

The deadline for Corporate Transparency Act (CTA) compliance is fast approaching. Companies formed or registered to do business in the United States prior to January 1, 2024 must file initial beneficial ownership reports with… more

Beneficial Owner, Corporate Transparency Act, Financial Institutions, FinCEN, Reporting Requirements

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‘America’s AI Action Plan’: Implications for Data Center Expansion

Our Morgan Lewis colleagues recently wrote on the US administration’s new artificial intelligence action plan, specifically as the plan seeks to foster innovation and expedite the development of AI data centers and the necessary… more

Artificial Intelligence, Biden Administration, Data Centers, Energy Policy, Environmental Policies

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Navigating Trends and Pitfalls in Power and Utilities M&A Transactions

For businesses in the highly regulated areas of electric, gas, and water, and businesses in the wholesale electric generation space, there are many key considerations to keep in mind when pursuing an M&A transaction… more

Acquisition Agreements, Energy Storage, Infrastructure, Merger Agreements, Oil & Gas

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From Particles to Policy: Microplastics at the Crossroads of Regulation and Litigation

Rising alarm over microplastics as pollutants has sparked significant attention, stirring public concern and regulatory scrutiny. While there is both a lack of standardized methods for measuring microplastics and no scientific… more

Environmental Protection Agency (EPA), Food and Drug Administration (FDA), PFAS, Plastics

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Securities Enforcement Roundup – September 2024

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from September 2024. In September 2024 (the last month of the US Securities and Exchange Commission’s… more

Broker-Dealer, Corporate Counsel, Enforcement Actions, Environmental Social & Governance (ESG), Regulation Best Interest

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US Federal Government Expands CFIUS, Texas Joins States Limiting Foreign Control of Real Property

Texas joins the patchwork of states enacting legislation restricting foreign investment in real property with the enactment of the 2025 Texas Senate Bill No. 17, highlighting the growing state interest in national security. The… more

CFIUS, Constitutional Challenges, Foreign Investment, Foreign Ownership, National Security

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DOL Removes Restrictions on Recommendations of Principal Traded Assets from Prohibited Transaction Exemption 2020-02

The US Department of Labor (DOL) amended Prohibited Transaction Exemption 2020-02 (PTE 2020-02) to provide relief for recommendations of all types of principal trades. This change, effective September 23, 2024 and subject to all… more

Department of Labor (DOL), Fiduciary Duty, Initial Public Offering (IPO), Investors, Popular

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EU AI Office Publishes Third Draft of EU AI Act-Related General-Purpose AI Code of Practice: Key Copyright Issues

This LawFlash summarizes key EU copyright aspects of the European AI Office’s third draft of its General-Purpose AI Code of Practice developed in connection with the EU AI Act. The Code of Practice sets out “commitments” and… more

AI Act, Algorithms, Copyright, Copyright Infringement, Corporate Counsel

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Power and Speed

Merger and acquisition (M&A) activity involving data centers and digital infrastructure had a record year in 2024, and all signs point to that trend continuing in 2025. Market strategies and capital raising in this space are… more

Acquisitions, Artificial Intelligence, Data Centers, Electricity, Energy Sector

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US Supreme Court: FTC Cannot Seek Equitable Monetary Relief in Section 13(b) Cases

In a unanimous 9-0 decision authored by Justice Breyer, the US Supreme Court has held that the Federal Trade Commission (FTC) lacks the authority to seek equitable monetary relief in cases brought in federal court under FTC Act… more

AMG Capital Management LLC v FTC, Enforcement Authority, Federal Trade Commission (FTC), FTC Act, FTCA Section 13(b)

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New Executive Order Aims to Reshape Athlete Pay, Fair Access & College Sports Revenue Models

President Donald Trump on July 24, 2025 issued an executive order titled “Saving College Sports.” This order, which follows recent significant changes to compensation rules and limitations in the collegiate sports landscape,… more

Compensation, Executive Orders, NCAA, Sports, Student Athletes

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Executive Actions Substantially Revise Environmental Justice Policies and Practices

President Donald Trump’s early executive actions have rescinded environmental justice initiatives dating back more than 30 years as a part of the US administration’s broader objective of eliminating considerations of race,… more

Biden Administration, Environmental Justice, Environmental Policies, Environmental Protection Agency (EPA), Executive Orders

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Court Upholds Validity of ERISA Fiduciary Indemnification

Ruling rejects DOL challenge of an agreement by a 100% ESOP-owned company to advance defense costs and indemnify a trustee… more

Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), ESOP, Indemnification, Legal Costs

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Update: ‘Control’ for UK Sanctions Addressed in Hellard Case

Asset freeze measures enacted by the United Kingdom against designated persons (DPs) can, under certain circumstances, extend to entities “owned or controlled” by DPs. To date, there have been few—and at times partly… more

Asset Freeze, Economic Sanctions, Trustees, UK

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Private Funds 2023: The Year in Brief

2023 was a watershed year for the private fund industry, not only because the US Securities and Exchange Commission (SEC) adopted a package of new regulations that will substantially alter the private fund landscape (subject to… more

Broker-Dealer, Form PF, Investment Adviser, Investors, Private Funds

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EMEA Private Equity: A Look Ahead at 2024

The private equity industry has faced a number of challenges over the last year: we have seen interest rate rises in response to greater inflationary pressure including increasing labor, transport, and energy costs, the… more

Acquisitions, Investment, Investors, Private Equity, Private Equity Firms

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Copyright, Patent, or Trade Secret Protection for AI Content: Challenges and Considerations

From creative endeavors like art and music to practical applications like translation and weather forecasting, artificial intelligence (AI) is producing more and more content and being used by inventors. Given the nuances in how… more

Artificial Intelligence, Authorship, Computer-Related Inventions, Copyright, European Patent Office

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Key Takeaways: CFIUS and Other Foreign Investor Considerations for Venture Capital

For venture capital investors, proactive diligence, thoughtful deal structuring, and attention to key shifts in investment regulation are essential, particularly when participating in cross-border transactions or investing in… more

CFIUS, Foreign Investment, National Security, Regulatory Requirements, Venture Capital

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A Practical Guide to Aircraft Engine RPFH Agreements

For the ever-evolving aviation industry, the traditional time and material–based contracts between airlines and original equipment manufacturers (OEMs) for the maintenance of aircraft engines may not always be the most practical… more

Aircraft, Airlines, Aviation Industry, Maintenance, Transportation Industry

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Multijurisdictional Securitization in the Age of the New EU Securitization Rules

It can be difficult to structure securitization transactions that comply with both the US and EU regulatory regimes, a task made even more complicated by the new EU rules that came into effect on January 1, 2019. While the… more

Banking Sector, Banks, EU, European Banking Authority (EBA), Financial Institutions

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A Union of Innovation? The EU Strategy for Startups and Scale-ups

The European economy is currently under a considerable structural adjustment pressure. Against the backdrop of rapid technological change, diverse geopolitical tensions, an increasing shortage of skilled workers, and global… more

Competition, EU, Financing, Innovation, Investment

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Pennsylvania Amends Overtime Rate Calculations for Salaried, Nonexempt Employees

Pennsylvania employers with salaried, nonexempt employees working in the commonwealth may need to adjust how they calculate overtime premiums for these employees in light of amendments to the Pennsylvania Minimum Wage Act that… more

Employer Liability Issues, Fair Labor Standards Act (FLSA), Non-Exempt Employees, Over-Time, PA Supreme Court

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CFPB Finalizes Qualified Mortgage Changes

The Consumer Financial Protection Bureau (Bureau or CFPB) issued two final rules on December 10 with significant implications for the mortgage marketplace. Of the two final rules from the Bureau, one drastically simplifies the… more

Ability-to-Repay, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Regulatory Reform, Financial Services Industry

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State Attorneys General Step Up Consumer Financial Services Enforcement

State attorneys general (AGs) are increasingly shaping the enforcement landscape for consumer financial services in response to shifting federal priorities and a less active Consumer Financial Protection Bureau (CFPB). These… more

Artificial Intelligence, Buy Now Pay Later (BNPL), Consumer Financial Products, Consumer Protection Laws, Dodd-Frank

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Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

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

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Modernizing FINRA Rules for Member Workplaces: A Call for Comments

FINRA previously announced in Regulatory Notice 25-04 that it is launching a broad review to modernize its rules regarding member firms and associated persons and identified the modern workplace as its area of initial focus… more

Broker-Dealer, Financial Industry Regulatory Authority (FINRA), Investment Adviser, Modernization, Registered Investment Advisors

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German Federal Court of Justice Strengthens Minimum Offer Price Rules Under German Securities Acquisitions and Takeover Act - Legal Insights Germany

The German Federal Court of Justice (FCJ), in two recent judgments (case numbers II ZR 219/21 and II ZR 220/21), awarded former shareholders of a target company that accepted a takeover offer payment claims for the difference… more

Acquisitions, Capital Markets, Germany, Shareholders

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Act to Modernize the Law on Civil Law Partnerships: Transparency Obligations for Family Companies

The Act to Modernize the Law on Civil Law Partnerships (MoPeG) came into force on January 1, 2024, bringing comprehensive reform to the law of civil law partnerships (GbR). Since family-owned companies (also known as family… more

Disclosure Requirements, EU, Family Businesses, Shareholders, Transparency

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Regulatory Reforms and Market Incentives Announced to Revitalise Singapore’s Equities Market

The Monetary Authority of Singapore (MAS), in coordination with the Singapore Exchange (SGX), recently announced the first set of measures, along with public consultations, designed to enhance the competitiveness of the SGX’s… more

Capital Markets, Fund Managers, Initial Public Offering (IPO), Investment Funds, Listing Rules

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PLF 2025 Adopted in France

The PLF 2025, definitively adopted by the Senate on 6 February 2025 following a months-long process, is currently being examined by the French Constitutional Council… more

Anti-Avoidance, Capital Gains, Corporate Taxes, Dividends, Employee Benefits

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PA Public Utility Commission’s Fully Projected Future Test Year Filing Requirements Advance at IRRC

On May 15, 2025, Pennsylvania’s Independent Regulatory Review Commission (IRRC) approved final-form regulations proposed by the Pennsylvania Public Utility Commission (PUC or Commission) regarding the use of a fully projected… more

Compliance Dates, Filing Requirements, Government Agencies, New Regulations, Pennsylvania

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State Legislatures’ Continued Focus on Private Equity Transactions in Healthcare

On the heels of significant legislative activity in 2024 when numerous state legislatures sought to expand the reach of "mini-HSR laws" by targeting healthcare transactions involving private equity firms or sponsors, state… more

Acquisitions, Hospitals, Investors, Mergers, New Legislation

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Balancing Leasing Acquisition and Environmental Risk in Data Center Projects

Buoyed by robust demand for large parcels of undeveloped land, the rise of artificial intelligence workloads, and the game-changing role that hyperscalers are playing, the real estate market for data centers is in a strong… more

Acquisition Agreements, Commercial Leases, Commercial Real Estate Market, Data Centers, Due Diligence

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Commissioners Signal Changes to FTC Enforcement of Employee No-Hire Restrictions Under Trump-Vance Administration

The US Federal Trade Commission (FTC or Commission), in the final two months of the Biden administration, entered into two settlements in cases targeting the use of so-called “no-hire” restrictions in services agreements. In… more

Antitrust Provisions, Competition, Department of Justice (DOJ), Employment Contract, Federal Trade Commission (FTC)

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New York Expands False Claims Act Tax Liability for Non-Filers

New York Governor Kathy Hochul recently signed into law new legislation expanding the reach of the New York False Claims Act (NYFCA) to entities that fail to file tax returns in New York. Unlike the federal False Claims Act… more

False Claims Act (FCA), New York, Qui Tam, State Taxes, Tax Fraud

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Private Funds Year in Review: Key Tax Developments That Shaped the Industry in 2024

In 2024, several significant tax developments emerged that are set to impact the private fund industry in 2025. These changes include pivotal US Tax Court (Tax Court) opinions, updates to Internal Revenue Service (IRS) forms,… more

Internal Revenue Code (IRC), Investment Funds, IRS, Private Equity Funds, Private Funds

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OIG’s Advisory Opinion No. 25-08: Negative Opinion Highlights Potential Broad Reach of AKS

In a relatively rare move, the US Department of Health and Human Services Office of Inspector General (OIG) recently issued an unfavorable Advisory Opinion (No. 25-08) (Opinion) reinforcing the agency’s expansive view of the… more

Advisory Opinions, Anti-Kickback Statute, Department of Health and Human Services (HHS), Fraud and Abuse, Health Care Providers

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Ukraine Conflict Two Years Later: Key Legal Lessons for Businesses

It’s been two years since the escalation of the ongoing conflict in Ukraine, which has led many companies with business operations or personnel in Eastern Europe to adjust, restructure, or exit locations in Russia. Meanwhile,… more

Economic Sanctions, Foreign Policy, Foreign Relations, Military Conflict, Russia

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Ensuring Compliance with ‘Junk Fee’ Regulatory Requirements

With the continued expansion of the regulation of “junk fees,” including bipartisan actions from federal, state, and local authorities, it is more important than ever for businesses to ensure compliance with these requirements… more

Consumer Financial Protection Bureau (CFPB), Enforcement Actions, Federal Trade Commission (FTC), Fees, New Regulations

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AVIA Publishes Federal Policy Framework for Autonomous Vehicles

The Autonomous Vehicle Industry Association on January 7 released a federal policy framework to accelerate the deployment and commercialization of autonomous vehicle technology and maintain the US leadership role in AV design,… more

Automation Systems, Automotive Industry, Cybersecurity, Data Protection, Driverless Cars

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The Dawn of BEPS 2.0 in Singapore: An Uncertain Road, A Certain Destination

The global wave of the two-pillar solution to address base erosion and profit shifting, commonly known as BEPS 2.0, has formally washed ashore in Singapore. It is now certain that multinational enterprises (MNEs) with local… more

BEPS, Corporate Taxes, Cross-Border Transactions, International Tax Issues, Multinationals

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IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

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Insurance, Liability, and Enforcement Considerations for Organizations Providing Vaccine Access

The recent rollout of various COVID-19 vaccines has raised many questions around their availability, distribution, and requirements for employers and other groups, including essential insurance, liability, and enforcement… more

Civil Liability, Commercial General Liability Policies, Coronavirus/COVID-19, Infectious Diseases, Life Sciences

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Key Themes and Actionable Insights from Recent eDiscovery Case Law – Q4 2024

Recent developments in eDiscovery case law highlight significant trends legal counsel, eDiscovery professionals, and business leaders should keep an eye on, including the growing complexity of privilege assertions, the… more

Class Action, Data Management, Data Preservation, Discovery, e-Discovery

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PA Public Utility Commission’s Fully Projected Future Test Year Filing Requirements Advance at IRRC

On May 15, 2025, Pennsylvania’s Independent Regulatory Review Commission (IRRC) approved final-form regulations proposed by the Pennsylvania Public Utility Commission (PUC or Commission) regarding the use of a fully projected… more

Compliance Dates, Filing Requirements, Government Agencies, New Regulations, Pennsylvania

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2014 Changes to the New York Uniform Commercial Code

The changes provide modernization but with some nonuniform provisions. On December 17, 2014, New York Governor Andrew Cuomo signed into law New York Assembly Bill 9933, which amends the Uniform Commercial Code (the UCC)… more

Amended Legislation, Article 9, Governor Cuomo, Uniform Commercial Code (UCC)

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Final Treasury Regulations Published on Transition from IBORs to Qualified Rates

The Internal Revenue Service and the US Treasury Department have issued final regulations providing rules for taxpayers transitioning from interbank offered rates to qualified rates. These regulations provide financial… more

Banking Sector, FATCA, Final Rules, Financial Conduct Authority (FCA), Financial Institutions

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Singapore Expands Its AI Governance Approach to Include Generative AI

Singapore’s Infocomm Media Development Authority (IMDA) launched the Model AI Governance Framework for Generative AI (Generative AI Framework) on 30 May 2024. The framework, developed by the IMDA and its wholly owned and… more

Artificial Intelligence, Innovative Technology, Machine Learning, Technology Sector

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Upcoming Deadlines to Dispute California Property Tax Valuation for 2025

For California property owners that could potentially reduce their property taxes with a decline-in-value assessment appeal, the property tax assessment appeals for 2025 are due by either September 15 or December 1 depending on… more

Assessment, California, Filing Deadlines, Property Tax, Property Valuation

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DOJ Issues Guidance for Recipients of Federal Funding Regarding Unlawful Discrimination

The US Department of Justice released new guidance for recipients of federal funding on July 29, 2025 intended to “clarif[y] the application of federal antidiscrimination laws to programs or initiatives that may involve… more

Anti-Discrimination Policies, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), False Claims Act (FCA), Federal Funding

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Life Sciences Post-Chevron: Navigating the Range of Legal and Regulatory Challenges Raised by Loper Bright

The US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, which overrules the longstanding Chevron doctrine that required federal courts to defer to administrative… more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

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Singapore Exchange Amends Listing Rules Following Changes to the Companies Act

The Singapore Exchange has introduced amendments to the Mainboard and Catalist listing rules—including in relation to the electronic transmission of documents to shareholders, exemptions for insurance coverage and indemnities… more

CEOs, Consent, Directors, Electronic Communications, Financial Statements

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Llcs and Small Business Owners: Be Sure to File Beneficial Ownership Information Report to Comply With CTA

January 1, 2024 ushered in a new regulatory scheme for small business owners across the United States with the Corporate Transparency Act (CTA). The CTA seeks to combat illicit activity involving tax fraud, money laundering, and… more

Beneficial Owner, Business Ownership, Corporate Transparency Act, FinCEN, Limited Liability Company (LLC)

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Washington State Year-End Legislative Developments Employers Need to Know (Updated)

Washington state recently enacted a slew of laws that will impact employers across the state. Most of the new laws expand protections for employees, but some offer relief to employers as they adjust to new requirements… more

Criminal Records, Family and Medical Leave Act (FMLA), Hate Crimes, Job Ads, Paid Family Leave Law

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Inducement Grants Enable Companies to Avoid Depletion of Equity Plan Share Reserves

This LawFlash discusses awarding equity grants to newly hired employees as “inducement grants” outside the shareholder approved plan and the pros and cons of making inducement grants… more

Coronavirus/COVID-19, Equity Compensation, Equity Grants, Hiring & Firing, Inducements

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CPPA Board Finalizes New Rules on ADMT, Cybersecurity Audits, and Risk Assessments

The California Privacy Protection Agency (CPPA) board unanimously voted on July 24, 2025 to finalize a package of regulations related to automated decision-making technology (ADMT), cybersecurity audits, and risk assessments… more

Audits, Automated Decision Systems (ADS), California Consumer Privacy Act (CCPA), California Privacy Protection Agency (CPPA), Consumer Privacy Rights

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‘Settled Expectations,’ PTAB’s New Discretionary Denial Factor, Gains Additional Footing in Dabico

Acting Director of the USPTO Coke Morgan Stewart recently discretionarily denied institution of an inter partes review (IPR) based on a new consideration, “settled expectations,” that is, the length of time that the challenged… more

Appeals, Due Process, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Invalidity

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SEC Staff Issues Names Rule FAQs

The Staff of the US Securities and Exchange Commission has issued FAQs regarding recent amendments to Rule 35d-1 (often referred to as the Names Rule) under the Investment Company Act of 1940. The amendments to the Names Rule,… more

Amended Rules, Disclosure Requirements, Investment, Investment Adviser, Investment Company Act of 1940

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State & Federal Public Records Laws: An Often-Overlooked Discovery Tool

Information and document requests under the Freedom of Information Act and analogous state public records laws can be powerful and relatively inexpensive tools in a party’s litigation toolbox and are not only reserved for… more

Administrative Procedure Act, Artificial Intelligence, Discovery, Evidence, FOIA

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True Lender Rule Invalidated

Congress has enacted and President Joseph Biden has signed a joint resolution of disapproval under the Congressional Review Act (CRA) of the Office of the Comptroller of the Currency’s (OCC’s) “true lender” rule, which, as we… more

Congressional Review Act, FDIC, Financial Regulatory Reform, Financial Services Industry, FinTech

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US Supreme Court Restricts Use of US Courts to Aid in Discovery for International Arbitrations

Parties seeking to use the US court system to facilitate discovery in foreign commercial and investor-state arbitrations may no longer have that option… more

28 U.S.C. § 1782, Commercial Arbitration, Discovery, Foreign Jurisdictions, Foreign Tribunals

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding… more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

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Saudi Arabia’s Personal Data Protection Law: A Guide to Registering as a Data Controller

The Kingdom of Saudi Arabia’s (KSA’s) Personal Data Protection Law (PDPL) marks a significant milestone in protecting personal data in the region. Overseen by the Saudi Data and Artificial Intelligence Authority (SDAIA), the… more

Cybersecurity, Data Privacy, Data Protection, Data Security, Personal Data

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SEC Requests Public Comment on Changes to the Definition of ‘Foreign Private Issuer’

On June 4, 2025, the US Securities and Exchange Commission published a concept release to solicit comments on whether and how the definition of “foreign private issuer” (FPI) should be changed. As a result of recent developments… more

Capital Markets, China, Disclosure Requirements, Foreign Private Issuers, Proposed Amendments

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NMPA Releases Draft Administrative Measures for Pharmaceutical Representatives: Review and Considerations

China’s main healthcare regulatory bodies, including the National Medical Products Administration, released draft administrative measures for pharmaceutical representatives intended to strengthen anti-corruption efforts and… more

Pharmaceutical Industry, Prescription Drugs, State Administration for Market Regulation (SAMR)

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Key Considerations for Restructuring Investment in China

Geopolitical tensions have increasingly impacted business operations in China, prompting multinational companies to adopt contingency strategies, including spin-offs or restructuring. These efforts present both challenges and… more

China, Corporate Restructuring, Foreign Investment, Merger Controls, Taxation

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GENIUS Act Passes in US Congress: A Breakdown of the Landmark Stablecoin Law

The US House of Representatives passed the Guiding and Establishing National Innovation for US Stablecoins Act, or the “GENIUS Act,” on July 17, 2025, sending the landmark legislation to President Donald Trump for his signature… more

Anti-Money Laundering, Blockchain, Cryptocurrency, Digital Assets, Financial Regulatory Reform

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NRC NEPA Overhaul: Agency Plans to Amend Regulations in 10 CFR Part 51

The Commission recently issued a Staff Requirements Memorandum (SRM) directing NRC Staff to revise the NRC’s National Environmental Policy Act of 1969 (NEPA) regulations at 10 CFR Part 51 and update related NRC guidance and… more

Environmental Assessments, Environmental Impact Statements, Environmental Review, NEPA, New Regulations

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Shanghai Introduces Shared-Cost Mechanism to Support Maternity and Childbirth Leave

The Shanghai government on August 8, 2025 introduced a significant new policy to combat declining birth rates, an ageing population, and perceived barriers in the workplace for female professionals. The policy aims to benefit… more

China, Compensation & Benefits, Employee Benefits, Employees, Employer Responsibilities

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Key Considerations for Management in Corporate Transactions: Perspectives from Management Team’s Counsel

In buyout or take private transactions, the management team of the target business is a key constituency that frequently—yet often unknowingly—requires legal counsel to advocate for its interests. The management team’s interests… more

Investment, Private Equity, Shareholders, Take-Private Transactions

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SEC Amends Rules for Reporting Beneficial Ownership on Schedules 13D and 13G

The US Securities and Exchange Commission (SEC) adopted amendments on October 10, 2023 to the rules governing beneficial ownership reporting on Schedules 13D and 13G and provided guidance on the rules’ application. The revisions… more

Beneficial Owner, Proposed Amendments, Reporting Requirements, Schedule 13D, Securities and Exchange Commission (SEC)

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Evolving Transfer Pricing Controversy: Divergent Paths in the United States and Ireland

Transfer pricing enforcement is undergoing significant changes in both the United States and Ireland, with the two jurisdictions actively moving in different directions. While the United States is experiencing internal resource… more

Audits, Enforcement, International Tax Issues, Ireland, IRS

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Federal Court Holds DOL’s New Overtime Regulations Invalid

The US Department of Labor’s (DOL’s) regulations setting a new salary threshold to be exempt under the Fair Labor Standards Act (FLSA) were scheduled to go into effect on January 1, 2025. On November 15, 2024, a judge from the… more

Department of Labor (DOL), Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Federal Labor Laws

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the… more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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OSHA’s Aggressive Deregulatory Efforts Begin

The Occupational Safety and Health Administration (OSHA) has begun what the US Department of Labor describes as “aggressive deregulatory efforts” to “put American workers and job creators first.” In response to President Donald… more

Construction Industry, Deregulation, Executive Orders, Federal Register, General Duty Clause

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China Issues New National Standard on Security Requirements for Sensitive Personal Information

The State Administration for Market Regulation and the Standardization Administration of China have jointly issued a new national standard applicable to companies conducting business in China, GB/T 45574-2025, Data Security… more

China, Consent, Data Collection, Data Privacy, Data Security

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China Securities Regulatory Commission Responds to Foreign Asset Managers’ FMC Applications

Feedback on recent applications to the China Securities Regulatory Commission provides some clarity on what will be expected from foreign asset managers wishing to establish fund management companies in the Chinese domestic… more

Asset Management, China, China Securities Regulatory Commission (CSRC), Financial Markets, Foreign Corporations

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Upcoming Deadlines to Dispute California Property Tax Valuation for 2025

For California property owners that could potentially reduce their property taxes with a decline-in-value assessment appeal, the property tax assessment appeals for 2025 are due by either September 15 or December 1 depending on… more

Assessment, California, Filing Deadlines, Property Tax, Property Valuation

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IP and Commercial Contract Litigation Developments and Trends: What Transactional Lawyers Should Know

As part of our Spotlight series, we invited litigation partners Dana E. Becker (Philadelphia), Shon Lo (Chicago), and Krista Vink Venegas, Ph.D. (Chicago), to talk about recent trends and issues in IP-related and other… more

Commercial Contracts, Contract Drafting, Contract Terms, IP License, Non-Disclosure Agreement

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State Legislatures’ Continued Focus on Private Equity Transactions in Healthcare

On the heels of significant legislative activity in 2024 when numerous state legislatures sought to expand the reach of "mini-HSR laws" by targeting healthcare transactions involving private equity firms or sponsors, state… more

Acquisitions, Hospitals, Investors, Mergers, New Legislation

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Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational… more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

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US Department of State Releases August 2025 Visa Bulletin

The US Citizenship and Immigration Services (USCIS) will use the Final Action Dates for Employment-Based Adjustment of Status Applications chart in August 2025. The Final Action Dates chart shows retrogression for some countries… more

EB-2, EB-3, Filing Deadlines, Final Action, Foreign Nationals

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SEC Staff Issues Updated Marketing Rule FAQs

SEC Staff published new guidance providing private fund managers and other investment advisers with flexibility to use extracted performance and portfolio/investment characteristics in marketing materials, without cumbersome… more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investment Funds, Investment Management

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ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial… more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

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Executive Order Directs Major Reform to Federal Contracting Regulations

The US administration on April 15, 2025 issued an executive order that directs prompt and substantial reforms to the Federal Acquisition Regulation (FAR). The order, titled Restoring Common Sense to Federal Procurement,… more

Executive Orders, Federal Acquisition Regulations (FAR), Federal Contractors, Government Agencies, National Security

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One Year Out from World Cup 2026: Key Considerations

As organizations prepare for the 2026 Men’s World Cup, co-hosted across 16 North American cities, it is vital for such entities to begin weighing several key considerations to ensure a successful and compliant event. This… more

Anti-Corruption, Contract Terms, Employment Contract, Foreign Workers, Immigration Procedures

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US Supreme Court Rejects Heightened Standard for Proving FLSA Exemptions

The US Supreme Court issued a unanimous decision on January 15, 2025 in EMD Sales Inc. v. Carrera clarifying the evidentiary standard employers must meet to show that an employee is exempt from overtime and minimum wage… more

Appeals, Employer Liability Issues, Employment Litigation, Evidence, Exempt-Employees

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Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three… more

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

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Navigating Change: Innovation, Policy, and Market Shifts in the Automotive Industry

The automotive industry is undergoing a period of rapid transformation, driven by advancements in electric vehicle (EV) technology, artificial intelligence (AI), and digital connectivity amid shifting trade policies and evolving… more

Artificial Intelligence, Automotive Industry, Electric Vehicles, Innovation, Regulatory Requirements

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Private Funds 2023: The Year in Brief

2023 was a watershed year for the private fund industry, not only because the US Securities and Exchange Commission (SEC) adopted a package of new regulations that will substantially alter the private fund landscape (subject to… more

Broker-Dealer, Form PF, Investment Adviser, Investors, Private Funds

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Singapore Corporate Service Providers Act Now in Effect as of 9 June

The Accounting and Corporate Regulatory Authority of Singapore announced on 9 May 2025 that the Corporate Service Providers Act 2024 (CSP Act) and the Corporate Service Provider Regulations 2025 (CSP Regulations), providing… more

AML/CFT, Anti-Money Laundering, Business Entities, Filing Requirements, Financial Crimes

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HKEX to Further Promote Its Paperless Initiative in 2024

The Stock Exchange of Hong Kong Limited (HKEX) recently released its Consultation Conclusions on the Consultation Paper introduced in December 2022, Proposals to Expand the Paperless Listing Regime and Other Rule Amendments,… more

HKEx, Hong Kong, Hong Kong Stock Exchange, Listing Rules

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SEC Proposes Mandatory Cybersecurity Disclosures

The US Securities and Exchange Commission has proposed new rules and amendments to mandate disclosure regarding cybersecurity risk management, strategy, governance, and incident reporting, including amendments to Form 8-K, Form… more

Cyber Incident Reporting, Cybersecurity, Disclosure Requirements, Form 10-K, Form 8-K

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Understanding China’s New Company Law: What Foreign Investors Need to Know

The amended Company Law of China (the New Company Law) took effect on July 1, 2024, making substantial changes to existing rules in a wide range of areas including, among others, new timeline requirements for capital… more

Business Entities, China, Corporate Governance, Foreign Investment, Investors

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The Proposed GENIUS Act Raises Concerns Over Insolvency Provisions

Much attention has been paid to the regulatory and customer protection provisions of the proposed Guiding and Establishing National Innovation of US Stablecoins Act, the so-called GENIUS Act, S. 1582 (the proposed Act). However,… more

Bankruptcy Code, Chapter 11, Creditors, Debtors, Financial Institutions

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Pennsylvania Does Not Recognize Duty to Warn an Employee’s Spouse

District court predicts that Pennsylvania will not recognize a duty to protect or warn the spouse of an employee in “take home” or “household” asbestos exposure cases. On August 26, Judge Eduardo C. Robreno of the U.S… more

Asbestos, Boeing, Employer Liability Issues, Take-Home Exposure

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New Restatement Rule Expands Vicarious Liability for Employee Sexual Misconduct

The American Law Institute approved a controversial new provision of the Restatement of Torts, Third expanding vicarious liability to employers for certain sexual assaults committed by employees against third parties who are… more

Commercial Insurance Policies, Employer Liability Issues, Employer Responsibilities, Employment Litigation, Independent Contractors

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US Department of Labor Publishes Its Independent Contractor Final Rule

The US Department of Labor (DOL) published on January 10, 2024 its long-awaited Final Rule regarding independent contractor classification under the Fair Labor Standards Act (FLSA), signaling a return to its pre-2021… more

Department of Labor (DOL), Economic Realities Test, Employee Definition, Employer Liability Issues, Fair Labor Standards Act (FLSA)

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Innovation, Regulation, and Litigation - The Automotive Industry’s Road to 2024

The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action… more

Artificial Intelligence, Automation Systems, Automotive Industry, Electric Vehicles, Innovative Technology

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following:… more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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Key Considerations for Foreign Clinical Trials When Looking Abroad for Product Development

With the continuing cuts to US Food and Drug Administration (FDA) staffing, the pharmaceutical and biotechnology industries are communicating increasing concern about potential product development impacts. While these cuts and… more

Clinical Trials, Data Privacy, Food and Drug Administration (FDA), Imports, International Data Transfers

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UK Supreme Court Confirms Post-Sale Context Is a Basis for Trademark Infringement

The UK Supreme Court recently handed down judgement in the case of Iconix Luxembourg Holdings SARL v. Dream Pairs Europe Inc. The decision has provided important clarity on the question of whether post-sale confusion is… more

Appellate Courts, Brand, Intellectual Property Protection, Likelihood of Confusion, Trademark Infringement

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met… more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

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The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private… more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

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Affordable Care Act Section 1557 New Language Accessibility Requirements

Section 1557 of the Affordable Care Act (ACA) prohibits discrimination on the basis of race, color, national origin, sex, age, or disability in certain healthcare activities. Among other requirements, all healthcare providers… more

Affordable Care Act, Centers for Medicare & Medicaid Services (CMS), Civil Rights Act, Department of Health and Human Services (HHS), Health Care Providers

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Affordable Care Act Section 1557 New Language Accessibility Requirements

Section 1557 of the Affordable Care Act (ACA) prohibits discrimination on the basis of race, color, national origin, sex, age, or disability in certain healthcare activities. Among other requirements, all healthcare providers… more

Affordable Care Act, Centers for Medicare & Medicaid Services (CMS), Civil Rights Act, Department of Health and Human Services (HHS), Health Care Providers

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DOJ Breaks Silence on ADA Web Accessibility with New Guidance

Following a period of silence on whether the Americans with Disabilities Act requires websites to be accessible to persons with disabilities, the US Department of Justice released new guidance on March 18 focusing on covered… more

Americans with Disabilities Act (ADA), Department of Justice (DOJ), Disability Discrimination, New Guidance, Public Accommodation

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Small and Micro Entities with COVID-19-related Inventions Now Have Inexpensive Track to Patent

The US Patent and Trademark Office (USPTO) on May 8 announced a new COVID-19 Prioritized Examination Pilot Program (Pilot Program), under which eligible small and micro entities will receive prioritized examination without… more

Coronavirus/COVID-19, Intellectual Property Protection, Patent Examinations, USPTO, USPTO Pilot Program

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CDC Expands Definition of ‘Close Contact’ to Include Multiple Short Interactions

The US Centers for Disease Control and Prevention has expanded its definition of “close contact” to include individuals who spend 15 cumulative minutes within six feet of an individual infected with coronavirus (COVID-19) over a… more

Centers for Disease Control and Prevention (CDC), Contact Tracing, Coronavirus/COVID-19, Infectious Diseases, New Guidance

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Antitrust Considerations Amid the Rapid Expansion of Cricket in the US

Firms across industries face mounting antitrust scrutiny from enforcers, legislators, and the plaintiffs’ bar. Sports teams and leagues are no exception. As the volume of sports commerce expands globally, so too does scrutiny… more

Antitrust Litigation, Antitrust Violations, Broadcasting, Competition, Sherman Act

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AI in Investment Management: Opportunities, Pitfalls, and Regulatory Developments in Asia

Artificial intelligence has become one of the most transformative forces in modern finance, reshaping how investment firms operate, analyze data, and interact with clients. AI is no longer a futuristic concept but rather a… more

Artificial Intelligence, Asia, Cybersecurity, Financial Services Industry, FinTech

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Department of Labor Issues Final Rule Raising Salary Level for FLSA ‘White Collar’ Exemptions

On April 24, 2024, the US Department of Labor (DOL) announced the highly anticipated revisions to the salary thresholds for the Fair Labor Standards Act’s (FLSA’s) “white collar” overtime exemptions. The update significantly… more

Department of Labor (DOL), Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Final Rules

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California Wildfires: Essential Insurance Recovery Considerations for Businesses and Homeowners

The devastating wildfires that have rapidly spread across Los Angeles this month underscore the need for businesses and homeowners to be prepared to make insurance claims when natural disasters strike. This LawFlash details five… more

Business Interruption, California, Commercial Insurance Policies, Homeowners, Insurance Claims

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Last-Minute Amendments Proposed to UK Employment Rights Bill

Shortly before the UK Employment Rights Bill was expected to be signed into law, a significant number of amendments were proposed. This LawFlash outlines the key points for employers to note based on the latest amendments, an… more

Bereavement Leave, Confidentiality Agreements, Hiring & Firing, Non-Disclosure Agreement, Pregnancy

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OSHA Issues Guidance on Mitigating and Preventing COVID-19 Spread in the Workplace

Among other features, the new guidance recommends that employers implement a COVID-19 prevention program and identifies key measures for limiting the spread of COVID-19. The Occupational Safety and Health Administration (OSHA)… more

Coronavirus/COVID-19, Employer Liability Issues, Health and Safety, Infectious Diseases, Masks

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Life Sciences International Review | August 2020

Welcome to the August 2020 issue of our Life Sciences International Review. This issue covers new developments within Asia, Europe, and the United States in intellectual property, regulatory, pricing, and international trade,… more

Asia, Coronavirus/COVID-19, Digital Health, EU, Food and Drug Administration (FDA)

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Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

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

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European Regulators Publish Joint Report on Recent Developments in Cryptoassets and DeFi

In a Joint Report published on January 16, 2025, the European Banking Authority (EBA) and European Securities and Markets Authority (ESMA) set out the findings of their analysis on specific elements covered by Article 142 of the… more

Cryptoassets, Cybersecurity, Decentralized Finance (DeFi), EU, European Supervisory Authorities (ESAs)

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Morgan Lewis Spark Q2 - 2021 - Russian

Morgan Lewis Spark – это ежеквартальный обзор, освещающий нововведения и изменения российского законодательства, имеющие важное значение для компаний, работающих в российских секторах энергетики и добычи полезных ископаемых. Мы… more

Climate Change, Electricity, Energy Projects, Energy Sector, Greenhouse Gas Emissions

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Update: Russia Ends Involvement of Russian National Settlement Depository in Recordkeeping of Type C Account Russian Shares

The president of Russia issued Decree No. 840 on October 2, 2024, prescribing that all Russian custodians transfer shares of Russian joint-stock companies held in Type C custody accounts from the National Settlement Depository… more

Banks, Economic Sanctions, Financial Institutions, Office of Financial Sanctions Implementation (OFSI), Russia

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Power and Speed

Merger and acquisition (M&A) activity involving data centers and digital infrastructure had a record year in 2024, and all signs point to that trend continuing in 2025. Market strategies and capital raising in this space are… more

Acquisitions, Artificial Intelligence, Data Centers, Electricity, Energy Sector

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NLRB Issues New Joint Employer Rule Affirming Expansive Joint Employer Status

The NLRB recently published its final rule on the standard for determining joint employer status, broadening the circumstances under which separate businesses can be considered joint employers—thereby making them obligated to… more

Employer Liability Issues, Franchisee, Franchisors, Joint Employers, NLRB

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UK Employers’ New Duty to Prevent Sexual Harassment: Are You Ready?

Employers have a new duty to take reasonable steps to prevent sexual harassment of employees in the course of their employment under the Worker Protection (Amendment of Equality Act 2010) Act 2023 (the Act). After receiving… more

Employer Liability Issues, International Labor Laws, Sexual Harassment, UK

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Securities Enforcement Roundup – June 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from June 2025. In June 2025: Overall, we continue to see the SEC and other regulators focus on interactions… more

Cryptocurrency, Department of Justice (DOJ), Enforcement Actions, Final Rules, Foreign Corrupt Practices Act (FCPA)

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GENIUS Act Passes in US Congress: A Breakdown of the Landmark Stablecoin Law

The US House of Representatives passed the Guiding and Establishing National Innovation for US Stablecoins Act, or the “GENIUS Act,” on July 17, 2025, sending the landmark legislation to President Donald Trump for his signature… more

Anti-Money Laundering, Blockchain, Cryptocurrency, Digital Assets, Financial Regulatory Reform

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The Impact of Brexit on UK Competition Law Cases

Following Brexit, EU competition law continued to apply in the United Kingdom until 31 December 2020 as part of an agreed Transition Period. In this LawFlash, we summarise how the end of the Transition Period is likely to impact… more

Anti-Competitive, Antitrust Provisions, Competition, EU, Jurisdiction

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US-China Auditing Oversight Agreement Signals Cooperation Between Nations but Could Lead to Increased Enforcement Risk

Due to a recent agreement between the Public Company Accounting Oversight Board and Chinese securities regulators, many US exchange–listed companies audited by accounting firms based in mainland China and Hong Kong may be able… more

Capital Markets, China, Corporate Governance, Department of Justice (DOJ), Foreign Corporations

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Courts Issue Three Significant DEI Decisions

Last week, three federal courts issued significant decisions impacting the diversity, equity, and inclusion (DEI) legal landscape. Together, the cases demonstrate the rapidly evolving state of the law with respect to DEI… more

Diversity, Diversity and Inclusion Standards (D&I), Employee Training, Employer Liability Issues, Stop Woke Act

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected… more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

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Withdrawal Liability Notice and Demand in Multiemployer Plans: Interpreting ‘As Soon as Practicable’ for Funds and Employers

A recent ruling by the US Court of Appeals for the Third Circuit serves provides a valuable reminder for multiemployer pension funds and contributing employers regarding ERISA’s withdrawal liability notice and demand… more

Employee Benefits, Employee Retirement Income Security Act (ERISA), Multiemployer Plan, Pensions, Retirement Plan

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European Commission Launches Merger Guidelines Review

The European Commission (EC) is conducting a comprehensive review of its Merger Guidelines, supported by a broad public consultation. The review aims to determine whether the current framework remains suitable for assessing the… more

Antitrust Provisions, Competition, Digital Platforms, EU, European Commission

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Attorney General’s Guidance on Unlawful Discrimination: Implications for Federal Funding Recipients and FCA Whistleblower Accountability

The Office of the Attorney General in the US Department of Justice (DOJ) issued a Memorandum on July 29, 2025, titled “Guidance for Recipients of Federal Funding Regarding Unlawful Discrimination” (the Guidance). The Guidance… more

Anti-Discrimination Policies, Anti-Retaliation Provisions, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), False Claims Act (FCA)

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Second Circuit Confirms ‘Willfulness’ Standard for Scienter Has Teeth Under the Anti-Kickback Statute and False Claims Act

In a new decision that could have a significant impact on the persistent efforts of relators to reach otherwise lawful conduct and characterize it as a violation of the Anti-Kickback Statute (AKS), the US Court of Appeals for… more

Anti-Kickback Statute, False Claims Act (FCA), Health Care Providers, Healthcare Fraud, Medicare

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Update on Status of US-UK 123 Agreement Regarding Nuclear Trade

As we reported in 2019, the United Kingdom’s withdrawal from the European Union, which occurred on January 31, 2020, included the United Kingdom’s exit from the European Atomic Energy Community (Euratom). Exports of nuclear… more

Atomic Energy, Atomic Energy Act, Euratom Treaty, Nuclear Power, UK

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NRC Finalizes FY 2025 Fee Rule with Significant Break for Advanced Reactor Applicants

The US Nuclear Regulatory Commission (NRC) recently issued a final rule amending the licensing, inspection, special project, and annual fees for applicants and licensees for FY 2025, aligning with fee-related provisions in both… more

Clean Energy, Energy Policy, Energy Projects, Fees, Final Rules

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US Supreme Court Affirms Easy Government Dismissal Standard in Declined Qui Tam Cases, But Renews Constitutionality Debate

The US Supreme Court’s decision in United States ex rel. Polansky v. Executive Health Resources ­confirms the relative ease by which the US government can exercise its dismissal authority under False Claims Act (FCA) Section… more

Constitutional Challenges, False Claims Act (FCA), Qui Tam, Relators, SCOTUS

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Kazakhstan Introduces Unified Register of State Support Measures for Private Entrepreneurship

The Deputy Prime Minister – Minister of National Economy of the Republic of Kazakhstan recently adopted Order No. 55, which came into force on 6 July 2025. The order approves the Register of State Support Measures, which… more

Business Development, Financial Services Industry, Government Agencies, Investment, Lending

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Navigating Change: Innovation, Policy, and Market Shifts in the Automotive Industry

The automotive industry is undergoing a period of rapid transformation, driven by advancements in electric vehicle (EV) technology, artificial intelligence (AI), and digital connectivity amid shifting trade policies and evolving… more

Artificial Intelligence, Automotive Industry, Electric Vehicles, Innovation, Regulatory Requirements

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EPA Finalizes Rules for Fossil Fuel–Fired Power Plants, Including GHG Standards

The US Environmental Protection Agency (EPA) released on April 25, 2024 the prepublication versions of four final rules applicable to fossil fuel–fired power plants. The rules establish carbon dioxide standards for existing… more

Clean Air Act, Clean Water Act, Environmental Protection Agency (EPA), Fossil Fuel, Greenhouse Gas Emissions

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DOJ Announces First FCA Settlement with Medical Device Company for Cybersecurity Violations

The US Department of Justice’s settlement with Illumina, Inc. is a first-of-its-kind involving alleged cybersecurity deficiencies causing violations of the False Claims Act (FCA) based on FDA quality standards. The cybersecurity… more

Cybersecurity, Department of Justice (DOJ), Digital Health, Enforcement Actions, False Claims Act (FCA)

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EPA Proposes Repeal of Greenhouse Gas Standards for Power Plants

The US Environmental Protection Agency recently issued a proposed rule and accompanying press release announcing its intent to repeal both the 2015 greenhouse gas emissions standards for new fossil fuel-fired power plants issued… more

Biden Administration, Clean Air Act, Deregulation, Energy Sector, Environmental Protection Agency (EPA)

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SECURE Act: IRS Sets Amendment Deadline for IRA Providers and Addresses Other IRA Issues

The Internal Revenue Service (IRS) recently released new guidance in IRS Notice 2020-68 to assist owners of individual retirement accounts and annuities (IRAs) and IRA providers implement certain provisions of the Setting Every… more

Employee Benefits, Individual Retirement Account (IRA), IRS, Popular, Retirement Plan

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

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US Administration Terminates Federal Office Leases Through General Services Administration

The widely reported directive tasking the US Department of Government Efficiency and the General Services Administration (GSA) with the termination of roughly 7,500 federal office leases nationwide will have far-reaching… more

Commercial Leases, Executive Orders, General Services Administration (GSA), Investors, Lenders

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US Administration Tariff Expansion, Potential False Claims Act Actions, and Other Enforcement Implications

With the second Trump administration holding the reins of the executive branch, companies should brace for a renewed focus on trade enforcement. The administration has already begun to expand tariffs on a variety of items… more

Compliance, Customs and Border Protection, Department of Justice (DOJ), Enforcement Actions, False Claims Act (FCA)

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Long Awaited ESOP Proposals Issued and Then Quickly Withdrawn

On January 20, 2025, an executive order froze two new pieces of proposed employee stock ownership plan (ESOP) guidance announced in a notice of proposed rulemaking and originally set for publication in the Federal Register on… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP, Executive Orders

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COVID-19: Cares Act Provisions Impacting The Banking Sector

The Coronavirus Aid, Relief, and Economic Security (CARES) Act offers broad-based economic support for companies contending with the disruptions caused by the coronavirus (COVID-19) pandemic… more

CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus, Paycheck Protection Program (PPP)

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Leadership at the NRC Hanson Dismissed Wright Nominated for Reappointment

The NRC is undergoing a period of transition, including the unexpected departure of Commissioner Christopher Hanson. Commissioner Christopher Hanson Dismissed On June 14, 2025, Commissioner Christopher Hanson was relieved of… more

Administrative Appointments, Constitutional Challenges, Executive Authority, Government Agencies, Judicial Authority

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DC Circuit Sidesteps Questions Around FINRA’s Constitutionality

On November 22, 2024, the US Court of Appeals for the DC Circuit issued its decision in the closely watched Alpine Securities Corp. v. FINRA case. Declining to decide larger constitutional questions, the court instead reversed… more

Administrative Law Judge (ALJ), Appointments Clause, Constitutional Challenges, Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC)

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New Jersey Passes Pay Transparency Law

On November 18, 2024, New Jersey Governor Phil Murphy signed into law SB2310, which will require employers with 10 or more employees to disclose certain compensation and benefit information in job advertisements. The law will go… more

Employer Liability Issues, Job Applicants, Pay Transparency, State Labor Laws, Wage and Hour

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Boards of Directors Must Continue to Meet Fiduciary Duties During Pandemic

As the coronavirus (COVID-19) pandemic disrupts everyday life throughout the world, boards of directors of corporations working around the clock to understand, address, and mitigate its effects on business operations must direct… more

Business Continuity Plans, Coronavirus/COVID-19, Corporate Governance, Duty of Care, Duty of Loyalty

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Antitrust Scrutiny of ESG Initiatives by State Attorneys General Heats Up

Recent actions by state attorneys general in Texas and Florida highlight rising antitrust scrutiny of environmental, social, and governance (ESG)-aligned investment strategies and climate disclosure groups. Companies with… more

Antitrust Investigations, Antitrust Litigation, Antitrust Provisions, Climate Change, Competition

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Navigating Legal Risk and Compliance Across the Nuclear Energy Sector

As the nuclear energy sector enters a period of renewed growth, companies face a complex array of legal, regulatory, and operational challenges. From liability frameworks governing radiation exposure to evolving enforcement… more

Artificial Intelligence, Department of Energy (DOE), Department of Justice (DOJ), Employee Benefits, False Claims Act (FCA)

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Proxies, Pay, and the Brave New World of ESG

Environmental, social, and governance (ESG) matters are now the subject of significantly greater regulatory scrutiny and are becoming a more prominent part of public companies’ mandatory filings, shareholder proposals, and… more

Annual Meeting, Climate Change, Corporate Governance, Corporate Social Responsibility, Environmental Social & Governance (ESG)

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FinCEN Removes BOI Reporting Requirements for US Companies and US Persons

The Financial Crimes Enforcement Network issued an interim final rule that removes the requirement for US companies and US persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act… more

Anti-Money Laundering, Beneficial Owner, Corporate Transparency Act, Filing Deadlines, Final Rules

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Pennsylvania Moves on Governor Shapiro’s Vision for Power Infrastructure

The Pennsylvania General Assembly on April 23, 2025 introduced a suite of legislation to implement Governor Josh Shapiro’s six-part “Lightening Plan” to secure the commonwealth’s energy future. A key element of the Lightening… more

Data Centers, Energy Policy, Energy Projects, Pennsylvania, Permits

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Federal Circuit Defines Commercial Sale For ‘On-Sale’ Bar

Unanimous en banc Federal Circuit holds that on-sale bar only applies where a commercial sale “bears the general hallmarks of a sale.” On July 11, in a unanimous en banc ruling, the full US Court of Appeals for the Federal… more

Medco Health Solutions, On-Sale Bar, Patent Applications, Patents, Uniform Commercial Code (UCC)

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Metaverse: A Jumpstart Guide to Intellectual Property, Antitrust, and International Considerations

The term “metaverse” first appeared in Neal Stephenson’s dystopian novel Snow Crash in 1992. Two decades later, the metaverse has evolved from a concept in print into an interactive and immersive reality. Its hyper-realistic… more

Corporate Branding, Cryptocurrency, Digital Assets, Intellectual Property Protection, Metaverse

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SEC Amends Registered Fund Reporting Requirements, Issues Guidance on Liquidity Risk Management Programs

The US Securities and Exchange Commission (SEC), by a 3-2 vote, recently adopted amendments to registered fund reporting requirements on Form N-PORT and Form N-CEN and provided guidance on open-end funds’ liquidity risk… more

Form N-CEN, Form N-PORT, Investment Companies, Investment Company Act of 1940, Liquidity

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Impact of New Tax Regulations on Intercompany Debt Obligations

The final, temporary, and proposed regulations issued by the Internal Revenue Service on October 13 relating to intercompany debt obligations between members of an affiliated group of corporations under Section 385 of the… more

Collateralized Debt Obligations, Corporate Counsel, Foreign Corporations, Intercompany Transactions, Internal Revenue Code (IRC)

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Cal/OSHA Standards Board Approves Its First-Ever Indoor Heat Rule

The California Occupational Safety and Health (Cal/OSHA) Standards Board voted unanimously to approve a new indoor heat illness rule covering the vast majority of California employers… more

Cal-OSHA, California, Employer Liability Issues, Health and Safety, Heat Exposure

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Mobilizing for Equality: 2021 Annual Report

The murder of George Floyd in May 2020 ignited a long-overdue global movement for racial justice, with communities across the United States and around the world unifying to demand change. In the immediate aftermath of the… more

Diversity and Inclusion Standards (D&I), Law Enforcement, Police, Police Brutality, Police Misconduct

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US Supreme Court Bars Claims Involving Defined Benefit Plan Investments

In a 5-4 decision in Thole v. U.S. Bank N.A., the US Supreme Court has ruled that defined benefit plan participants lack Article III standing to sue for fiduciary breaches that do not harm the individual participants. As the… more

Article III, Breach of Duty, Defined Benefit Plans, Duty of Loyalty, Duty of Prudence

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DOJ and FTC Issue Antitrust Employment Law Guidelines on Eve of New Administration

In the final days of the Biden administration and on the eve of significant agency turnover, the US Department of Justice Antitrust Division (DOJ) and Federal Trade Commission (FTC) issued a new set of guidelines addressing how… more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Department of Justice (DOJ), Employment Contract

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Just Passed: Senate Bill Significantly Amends Delaware General Corporation Law

On March 25, 2025, Senate Bill 21, which significantly amends the Delaware General Corporation Law (DGCL), passed the Delaware General Assembly and was signed into law by Governor Matt Meyer… more

Board of Directors, Books & Records, Controlling Stockholders, Corporate Governance, Delaware General Corporation Law

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Top Questions for Retailers in the United Kingdom Amid COVID-19

Key questions and issues facing the UK retail sector, an industry that has been acutely impacted by the coronavirus (COVID-19) pandemic, include mitigation strategies, reopening in line with government guidance, and future… more

Commercial Leases, Commercial Tenants, Coronavirus/COVID-19, Furloughs, Infectious Diseases

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Update: Amendments to San Francisco Retail Workers Bill of Rights Take Effect

Less than one week after the San Francisco Retail Workers Bill of Rights became effective, it was amended in several ways that impact employers’ compliance obligations going forward… more

Collective Bargaining, Exemptions, Local Ordinance, Part-Time Employees, Retail Workers

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Massachusetts High Court Clarifies Noncompete Law’s Scope, Declines to Let Nonsolicits ‘Through the Back Door’

In Miele v. Foundation Medicine, Inc., the Massachusetts Supreme Judicial Court (SJC) clarified that the Massachusetts Noncompetition Agreement Act (MNAA or the Act) does not apply to a forfeiture clause triggered by a breach of… more

Appeals, Breach of Contract, Contract Disputes, Contract Terms, Employment Contract

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Texas Joins the Emerging Landscape of State-Level AI Governance

Governor Greg Abbott recently signed into law the Texas Responsible Artificial Intelligence Governance Act (TRAIGA or Act), which takes effect on January 1, 2026. Texas joins California, Colorado, and Utah as one of the… more

Artificial Intelligence, Biometric Information, Disclosure Requirements, Enforcement, Government Agencies

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White House Issues Executive Order to Fast-Track Data Center Development

In a major move to bolster US digital infrastructure, the White House issued an executive order on July 23, 2025 aimed at accelerating the federal permitting process for data centers and related infrastructure. The order is part… more

Artificial Intelligence, Data Centers, Department of Defense (DOD), Department of Energy (DOE), Department of the Interior

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FTC Settles Consumer Review Charges against Fashion Nova and Signals More Action to Come - Retail Did You Know?

The US Federal Trade Commission (FTC) has settled charges brought against Fashion Nova, LLC (Fashion Nova) under Section 5(a) of the FTC Act for failure to publish negative product reviews on its website. This edition of Morgan… more

Federal Trade Commission (FTC), FTC Act, Marketing, Online Reviews, Section 5

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Reopening Considerations for Latin America in the Time of COVID-19

As Latin America continues to manage the adverse economic effects resulting from the coronavirus (COVID-19) pandemic and prepares for what lies ahead, there are certain post-shutdown processes and regulatory requirements to keep… more

Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities, International Labor Laws, Latin America

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DOJ Announces First FCA Settlement with Medical Device Company for Cybersecurity Violations

The US Department of Justice’s settlement with Illumina, Inc. is a first-of-its-kind involving alleged cybersecurity deficiencies causing violations of the False Claims Act (FCA) based on FDA quality standards. The cybersecurity… more

Cybersecurity, Department of Justice (DOJ), Digital Health, Enforcement Actions, False Claims Act (FCA)

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AI in Healthcare: Opportunities, Enforcement Risks and False Claims, and the Need for AI-Specific Compliance

The risks associated with the growth of AI in the healthcare and life sciences industries, as well as recent federal and state activity and enforcement actions, emphasize the importance of understanding and implementing a robust… more

Artificial Intelligence, Data Privacy, Data Security, Enforcement Actions, False Claims Act (FCA)

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The Name Game: SEC Proposes Expanding Scope of Registered Funds’ ‘Names Rule’

In a 3-1 vote, the US Securities and Exchange Commission on May 25 proposed amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Names Rule) that, if adopted as proposed, could cause new entrants and existing… more

Comment Period, Environmental Social & Governance (ESG), Investment Company Act of 1940, Proposed Amendments, Public Comment

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Paying Salaries in Cryptocurrency in the UAE: A New Possibility?

A recent judgment from the Dubai Court of First Instance determined that part of an employee’s remuneration can be paid in cryptocurrency, but notably does not change the basic principle that cryptocurrencies cannot be the sole… more

Cryptocurrency, Digital Assets, Employer Liability Issues, International Labor Laws, United Arab Emirates (UAE)

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10 Frequently Asked Questions on Starting a Family Office

In the last decade, family offices have become increasing popular vehicles among high-net-worth individuals and families looking for more formalized investment management, tax planning, estate planning, and philanthropic… more

Family Offices, Investment, Investment Management, Tax Planning

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Baltimore Bridge Collapse: Key Insurance Considerations for Impacted Businesses

The catastrophic collapse of the Baltimore Francis Scott Key Bridge resulted in the tragic loss of life, severed part of Interstate 695, and shut down one of the busiest ports in the United States. The disaster could become one… more

Business Interruption, Commercial General Liability Policies, Insurance Industry, Liability Insurance, Policy Terms

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EU AI Office Publishes Third Draft of EU AI Act-Related General-Purpose AI Code of Practice: Key Copyright Issues

This LawFlash summarizes key EU copyright aspects of the European AI Office’s third draft of its General-Purpose AI Code of Practice developed in connection with the EU AI Act. The Code of Practice sets out “commitments” and… more

AI Act, Algorithms, Copyright, Copyright Infringement, Corporate Counsel

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A Look at the SPAC Market in 2022

A Special Purpose Acquisition Company (SPAC) is a blank-check company formed for the purpose of effecting a business combination with one or more businesses. While SPACs are not new, they have recently increased in prevalence… more

Acquisitions, Capital Markets, Initial Public Offering (IPO), Listing Rules, Mergers

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Rounding Employee Time in California—Even Via Neutral Policy—Creates Risk Under New Appellate Decision

Although prior California decisions have approved neutral rounding systems, Camp v. Home Depot U.S.A., Inc. questions that law when an employer can track employee clock times to the minute. Therefore, employers in California… more

CA Supreme Court, Employer Liability Issues, Employment Litigation, State Labor Laws, Timekeeping

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New York State: Healthcare Entities Must Disclose Certain Material Transactions

As part of the New York State budget for fiscal year 2023–2024, the New York State Assembly amended the New York Public Health Law to impose new notification requirements related to material transactions involving physician… more

Confidential Information, Disclosure Requirements, Health Care Providers, New Legislation, New York

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New Modifications to the Proposition 65 Regulations

The modifications significantly change both the AG’s Regulations and OEHHA’s Clear and Reasonable Warnings provisions. California’s Office of Administrative Law recently approved important changes to two sets of Proposition 65… more

Amended Regulation, Manufacturers, OEHHA, Proposition 65, Retailers

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Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government… more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

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Taking Advantage of the New Purple Book Patent Requirements for Biologics

New federal legislation will take effect this year that will require a reference product sponsor to submit to the FDA a list of any patents identified to a biosimilar applicant during the patent dance. The FDA is required to… more

Biologics, Biosimilars, Food and Drug Administration (FDA), Intellectual Property Protection, IP License

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Key Themes and Actionable Insights from Recent eDiscovery Case Law – Q1 2025

Recent eDiscovery rulings from the first quarter of 2025 reveal courts grappling with redaction practices, cross-border data transfer tensions, evolving artificial intelligence (AI) usage in litigation, and increasing… more

Artificial Intelligence, Corporate Counsel, Cross-Border, Data Collection, Data Preservation

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding… more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

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The House Democrats’ Tax Plan – The Time for Estate Planning Is Now

The Democrats of the House of Representatives have released a much-anticipated tax plan that would significantly impact the federal estate and gift tax system. Importantly, the House could still amend this legislation and the… more

Biden Administration, Closely Held Businesses, Estate Planning, Estate Tax, Generation-Skipping Transfer

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New NLRB Rules Favor Mandatory Union Recognition & Limit Employee Voting in Secret-Ballot Elections

The National Labor Relations Board drastically changed the process for unions seeking recognition of most private sector employees in the United States. Abandoning 50 years of established law, in Cemex Construction Materials… more

Employer Liability Issues, NLRB, NLRB General Counsel, Unfair Labor Practices, Union Organizers

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Supreme Court Provides One Answer about SEC Administrative Law Judges, but Leaves Many Questions

On June 21, in Lucia v. Securities and Exchange Commission, the US Supreme Court held that administrative law judges of the US Securities and Exchange Commission are not mere federal employees but qualify as “Officers of the… more

Administrative Agencies, Administrative Law Judge (ALJ), Administrative Proceedings, Appeals, Appointments Clause

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Responding to the 2019 Novel Coronavirus: Guidance for Multinational Employers in Hong Kong

With the situation surrounding the 2019 Novel Coronavirus (COVID-19) rapidly changing, multinational companies with operations in Hong Kong should be aware of how to handle challenging employment issues during this time… more

Best Practices, China, Coronavirus/COVID-19, Emergency Management Plans, Employer Liability Issues

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US Federal Government Expands CFIUS, Texas Joins States Limiting Foreign Control of Real Property

Texas joins the patchwork of states enacting legislation restricting foreign investment in real property with the enactment of the 2025 Texas Senate Bill No. 17, highlighting the growing state interest in national security. The… more

CFIUS, Constitutional Challenges, Foreign Investment, Foreign Ownership, National Security

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US Supreme Court: Highly Compensated Employees Entitled to Overtime Unless FLSA Exemption Requirements Satisfied

In Helix Energy Solutions Group Inc. v. Hewitt, the US Supreme Court held (on the facts of that case) that an employer had improperly classified a supervisory employee earning more than $200,000 per year as an exempt “executive”… more

Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Helix Energy Solutions Group Inc v Hewitt No 21-984, Highly Compensated Employees

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National Aviation Authorities Network Unveils Roadmap for AAM Aircraft Type Certification

US Transportation Secretary Sean Duffy recently announced a first-of-its-kind collaboration between the US Federal Aviation Administration (FAA), aviation authorities of Australia (Civil Aviation Safety Authority), Canada… more

Aircraft, Aviation Industry, Bilateral Agreements, Canada, Government Agencies

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EU Commission Publishes Omnibus Package Proposing to Simplify EU Sustainability Laws

While the European Union has established itself as a frontrunner in sustainability legislation, having passed a significant number of sustainability laws under its Green Deal, its recent omnibus sustainability package proposes… more

Climate Change, Corporate Governance, Corporate Social Responsibility, Environmental Social & Governance (ESG), EU

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Navigating the New Era of Private Equity and Institutional Capital in Sports Investing: Key Takeaways

As institutional capital floods into sports, investors are navigating a rapidly changing landscape where traditional financial models don’t always apply. At the 2025 Moorad Symposium, global sports industry practice co-chairs… more

Financial Markets, Institutional Investors, Investment, Investment Funds, Private Equity

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Financial Institutions Face Investigations and Possible Referral to DOJ Based on Past ‘Debanking’ Practices

An executive order signed by the US president on August 7, 2025, titled Guaranteeing Fair Banking for All Americans, seeks to prohibit financial institutions from engaging in “debanking” practices, such as denying services or… more

Banking Sector, BSA/AML, Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ), ECOA

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ICE Enforcement Actions: Understanding Employers’ Rights and Obligations

In the past two weeks, the landscape of immigration enforcement in the United States has seen a significant shift. President Donald Trump’s executive orders have greatly impacted both employers and foreign workers across… more

Department of Homeland Security (DHS), Employee Rights, Employer Liability Issues, Enforcement Actions, Foreign Workers

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Federal Reserve Bank Publishes Paper on ‘Extend-and-Pretend’ Workouts

The Federal Reserve Bank of New York released a paper last week analyzing the effects of “extend-and-pretend” mortgage modifications on the broader financial system. Since the first quarter of 2022, banks have extended the… more

Banking Sector, Banks, Commercial Real Estate Market, Federal Reserve, Mortgages

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

See all updates »

Navigating Change: Innovation, Policy, and Market Shifts in the Automotive Industry

The automotive industry is undergoing a period of rapid transformation, driven by advancements in electric vehicle (EV) technology, artificial intelligence (AI), and digital connectivity amid shifting trade policies and evolving… more

Artificial Intelligence, Automotive Industry, Electric Vehicles, Innovation, Regulatory Requirements

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Providers: Are You Prepared for Broadband Label Requirements?

The Federal Communications Commission’s (FCC’s) broadband label requirements take effect as soon as April 10, 2024, but preparation to meet this deadline—including extensive documentation and information technology… more

Broadband, FCC, Labeling, Telecommunications

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Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three… more

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

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DOJ FCPA Declination Points to Continuation of Policies and Importance of Robust Compliance

An August 7, 2025 declination agreement published by the US Department of Justice’s (DOJ’s) Fraud Section—and the first bribery DOJ resolution of President Trump’s second term—provides initial insights into declinations under… more

Anti-Corruption, Bribery, Corporate Counsel, Corporate Crimes, Criminal Investigations

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Ensuring Compliance with ‘Junk Fee’ Regulatory Requirements

With the continued expansion of the regulation of “junk fees,” including bipartisan actions from federal, state, and local authorities, it is more important than ever for businesses to ensure compliance with these requirements… more

Consumer Financial Protection Bureau (CFPB), Enforcement Actions, Federal Trade Commission (FTC), Fees, New Regulations

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Evolving Regulatory Landscape for Connected Vehicles: Balancing Innovation with National Security

The US Department of Commerce’s Bureau of Industry and Security (BIS) took a potentially important step toward shaping the future of connected vehicles (CVs) by issuing an advance notice of proposed rulemaking (ANPRM) on… more

Automotive Industry, Connected Cars, Electric Vehicles, Manufacturers, National Security

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DIFC New Security Law: Creditors Beware

The Law of Security 2024 (New Law) came into effect in the Dubai International Financial Centre (DIFC) on 8 March 2024 (Effective Date), replacing the previous Law of Security 2005 (Old Law). Modelled after the UNCITRAL Model… more

Arbitration, DIFC, Dubai, UNCITRAL, United Arab Emirates (UAE)

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What’s New in the NVCA Model Legal Documents—And What’s Next?

The National Venture Capital Association’s model legal documents are industry-standard venture capital financing documents that act as a baseline for emerging and venture capital companies, consisting of the certificate of… more

Delaware General Corporation Law, Investors, Purchase Agreement, Venture Capital

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Staying in the Fight: Getting Your Company Through the Down Round to the Next Round of Financing

A “down round” is when a company raises capital based on a valuation that is lower (often materially so) than the company’s valuation in one or more prior financing rounds. Depending on the severity of the situation, a “down… more

Board of Directors, Breach of Duty, Fiduciary Duty, Venture Capital

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The Project Financing Outlook for Global Energy Projects in 2025

Both the US and global energy storage markets have experienced rapid growth over the last year and are expected to continue expanding rapidly in order to support grid resiliency. Through 2030, the global energy storage market is… more

Clean Energy, Construction Industry, Energy Projects, Energy Storage, Investment

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New UK Cybersecurity Measures for Data Centers and Managed Service Providers

The UK government published on April 1 a policy statement setting out its proposals for the much-anticipated Cyber Security and Resilience Bill (the Bill). The proposals include bringing data centers and managed service… more

Cybersecurity, Data Centers, Government Agencies, National Security, Proposed Legislation

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SPACs: Financial Conduct Authority Consults on Changes to UK Listing Regime

Key proposed changes to the UK listing regime include the removal of the presumption of suspension in trading in a SPAC’s shares when it announces a potential acquisition, subject to certain qualifying criteria being met… more

Capital Markets, Capital Raising, Initial Public Offering (IPO), Investment, Listing Rules

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DOJ Antitrust Division Brings First Criminal Wage-Fixing Case: Continuing Enforcement on Labor Market Issues

A federal grand jury in Texas indicted the owner of a therapist staffing company on wage-fixing charges on December 9. Although this is the US Department of Justice’s first criminal wage-fixing prosecution, the indictment… more

Anti-Competitive, Antitrust Violations, Corporate Counsel, Criminal Investigations, Department of Justice (DOJ)

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UK Life Sciences Sector Plan: What In-House Legal and Compliance Teams Need to Know

The UK government recently unveiled its 10-year Life Sciences Sector Plan, putting forward a comprehensive strategy for transforming the UK into a global leader in life sciences by 2035. This LawFlash outlines key areas of… more

Biotechnology, Clinical Trials, Data Privacy, Intellectual Property Protection, Investment

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The Future of SPACs: Increasing Litigation and Regulation

So far in 2021, we have seen more than 500 Special Purpose Acquisition Companies (SPACs) go public and raise more than $123 billion, and more than 160 of these “blank check firms” complete mergers with or acquisitions of private… more

Acquisitions, Breach of Duty, Corporate Governance, Financial Industry Regulatory Authority (FINRA), Initial Public Offering (IPO)

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FSA Responds to Public Comments on Its ESG Public Fund Guidelines

The Financial Services Agency of Japan (FSA) published its responses to public comments on the draft version of new guidelines on environmental, social, and governance (ESG) public funds on March 31. This LawFlash discusses… more

Environmental Social & Governance (ESG), Financial Services Agency, Financial Services Industry, Japan, Public Funds

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ITC Rescinds Seizure & Forfeiture Order after CIT Determines Redesign Does Not Infringe

A recent decision by the International Trade Commission (ITC) to temporarily rescind a seizure and forfeiture order after the Court of International Trade (CIT) granted summary judgment of non-infringement for certain redesigned… more

Asset Seizure, Court of International Trade, Customs and Border Protection, Enforcement Authority, Exclusion Orders

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The Road Ahead: DFSA Seeks Market Feedback on the DIFC Credit Fund Regime

The Dubai Financial Services Authority (DFSA) has issued a consultation paper (CP 158) relating to proposed amendments to its Collective Investment Rules (CIR), which includes one proposed change in relation to credit funds, and… more

DFSA, DIFC, Dubai, Financial Services Industry, Investment Funds

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2020 Year in Review and a Look Forward: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes selected… more

Biden Administration, BSA/AML, Disgorgement, Enforcement Actions, Exchange-Traded Products

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AI Servers à la Carte: Major Investment by France and UAE in French Data Center

We are closely following the recent announcement by France and the UAE regarding their €30 billion–€50 billion investment to build Europe’s largest AI data center in France with up to 1 gigawatt of capacity. The announcement… more

Artificial Intelligence, Data Centers, EU, Foreign Investment, France

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SEC Proposes Sweeping Rules on Broker-Dealer and Investment Adviser Technology Use

The US Securities and Exchange Commission (SEC) proposed on July 26, 2023 new rules designed to address conflicts of interest from the use of predictive data analytics in “investor interactions” by broker-dealers and investment… more

Broker-Dealer, Investment Adviser, Investment Advisers Act of 1940, Proposed Rules, Securities and Exchange Commission (SEC)

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Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair… more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

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NLRB Issues New Joint Employer Rule Affirming Expansive Joint Employer Status

The NLRB recently published its final rule on the standard for determining joint employer status, broadening the circumstances under which separate businesses can be considered joint employers—thereby making them obligated to… more

Employer Liability Issues, Franchisee, Franchisors, Joint Employers, NLRB

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Ninth Circuit Considers Whether False Claims Act Applies to Customs Violations

In a recent development in Island Industries, Inc. v. Sigma Corp.—a nonintervened False Claims Act (FCA) qui tam action based on an alleged failure to pay antidumping duties—the Ninth Circuit, post–oral argument, ordered… more

Anti-Dumping Duty, Court of International Trade, False Claims Act (FCA), Qui Tam

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Final Treasury Regulations Published on Transition from IBORs to Qualified Rates

The Internal Revenue Service and the US Treasury Department have issued final regulations providing rules for taxpayers transitioning from interbank offered rates to qualified rates. These regulations provide financial… more

Banking Sector, FATCA, Final Rules, Financial Conduct Authority (FCA), Financial Institutions

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California Wildfires: Essential Insurance Recovery Considerations for Businesses and Homeowners

The devastating wildfires that have rapidly spread across Los Angeles this month underscore the need for businesses and homeowners to be prepared to make insurance claims when natural disasters strike. This LawFlash details five… more

Business Interruption, California, Commercial Insurance Policies, Homeowners, Insurance Claims

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AI Compliance: A Quick Reminder

Artificial intelligence (AI) is reshaping modern society, enabling the automation and modification of routine human activities and, consequently, enhancing efficiency and productivity. Like any technological development, AI… more

AI Act, Artificial Intelligence, Biometric Information, Data Privacy, Ethics

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Failure to Connect: Grid Challenges Persist as Demand Rises

An imbalance has emerged between the amount of energy needed to meet demands in the United States and the ability to quickly bring energy projects online to supply that need. As generative AI continues to advance and become… more

Energy Policy, Energy Projects, Energy Sector, Regulatory Reform, Renewable Energy

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Singapore Corporate Service Providers Act Now in Effect as of 9 June

The Accounting and Corporate Regulatory Authority of Singapore announced on 9 May 2025 that the Corporate Service Providers Act 2024 (CSP Act) and the Corporate Service Provider Regulations 2025 (CSP Regulations), providing… more

AML/CFT, Anti-Money Laundering, Business Entities, Filing Requirements, Financial Crimes

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MAS Issues Circular on Anti-Scam Measures for Major Payment Institutions That Provide E-Wallets

The Monetary Authority of Singapore (MAS) published the Circular on Anti-Scam Measures by Major Payment Institutions Providing Personal Payment Accounts That Contain E-money on 25 October 2024, setting out MAS’s supervisory… more

Banking Sector, Financial Institutions, Financial Services Industry, Monetary Authority of Singapore, Singapore

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Monetary Authority of Singapore Set to Repeal Registered Fund Management Companies Regime

The Monetary Authority of Singapore (MAS) intends to repeal the Registered Fund Management Companies (RFMCs) regime to streamline fund management regulations. Ahead of this substantial change, the MAS has launched a public… more

Fund Managers, Investors, Monetary Authority of Singapore, Singapore

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California Courts Adopt Rule Governing the State’s Generative AI Use

Following the year-long work of its Artificial Intelligence Task Force, California’s Judicial Council has adopted Rule 10.430 addressing the use of generative AI by the state’s judicial branch. California is the largest, and one… more

Artificial Intelligence, Corporate Counsel, Ethics, Innovative Technology, Legal Technology

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California’s Regional Stay-at-Home Order Takes Effect December 5

Governor Gavin Newsom announced a regional stay-at-home order on December 3 in response to the unprecedented surge of coronavirus (COVID-19) cases in California. The order, which takes effect December 5, is triggered for any… more

Business Closures, California, Coronavirus/COVID-19, Critical Infrastructure Sectors, Emergency Management Plans

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Spending Bill Revives Paycheck Protection Program for US Small Businesses

The US Congress has passed a spending bill that includes $285 billion to extend and expand the Paycheck Protection Program, providing new first-time loans and adding second-draw loans to help support small businesses… more

CARES Act, Consolidated Appropriations Act (CAA), Coronavirus/COVID-19, Infectious Diseases, Loan Forgiveness

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California Supreme Court: Trial Courts Lack Authority to Strike or Dismiss PAGA Claims on Manageability Grounds

In Estrada v. Royalty Carpet Mills Inc., a unanimous decision by the California Supreme Court resolves a split between California courts of appeal by ruling that a trial court does not have inherent authority to strike PAGA… more

CA Supreme Court, Class Action, Employer Liability Issues, Employment Litigation, Labor Code

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving… more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

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CPPA Board Finalizes New Rules on ADMT, Cybersecurity Audits, and Risk Assessments

The California Privacy Protection Agency (CPPA) board unanimously voted on July 24, 2025 to finalize a package of regulations related to automated decision-making technology (ADMT), cybersecurity audits, and risk assessments… more

Audits, Automated Decision Systems (ADS), California Consumer Privacy Act (CCPA), California Privacy Protection Agency (CPPA), Consumer Privacy Rights

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New Section 174A Restores Domestic R&E Deductibility, but Other Changes Bring Mixed Results

President Donald Trump signed into law the One Big Beautiful Bill Act on July 4, 2025. Among many other provisions, this bill permits taxpayers to deduct domestic research and experimentation (R&E) expenditures under new Section… more

Corporate Taxes, Internal Revenue Code (IRC), New Legislation, Research and Development, Small Business

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SEC Amends Registered Fund Reporting Requirements, Issues Guidance on Liquidity Risk Management Programs

The US Securities and Exchange Commission (SEC), by a 3-2 vote, recently adopted amendments to registered fund reporting requirements on Form N-PORT and Form N-CEN and provided guidance on open-end funds’ liquidity risk… more

Form N-CEN, Form N-PORT, Investment Companies, Investment Company Act of 1940, Liquidity

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California Law Will Obligate VC Firms to Report Portfolio Company Diversity Metrics

California Governor Gavin Newsom recently signed Senate Bill 54, which aims to increase diversity among founders that are backed by venture capital (VC) companies. If implemented in its current version, SB 54 will likely apply… more

California, Governor Newsom, Investors, Startups, Venture Capital

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New Jersey's WARN Act Amended to Provide Relief to Employers Conducting Mass Layoffs

Governor Phil Murphy signed a suite of new laws on April 14 in response to the coronavirus (COVID-19) pandemic, including an amendment to New Jersey’s WARN Act providing relief to employers that conduct mass layoffs as a result… more

Coronavirus/COVID-19, Employer Liability Issues, Hiring & Firing, Layoff Notices, Layoffs

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FinCEN Issues First Transaction Ban on Certain Mexico-Based Financial Institutions

In a historic first, the US Department of the Treasury’s Financial Crimes Enforcement Network recently published orders prohibiting transactions with covered Mexico-based financial institutions. On June 30, 2025, the US… more

Anti-Money Laundering, Department of Justice (DOJ), Drug Trafficking, Economic Sanctions, Enforcement Actions

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ETFs for ERISA Plans: Operational Barriers and Potential Benefits

Exchange-traded funds (ETFs) have gained an increasing foothold in the wealth-management investment universe, with ETF assets under management currently about half the assets under management of mutual funds. As the ETF market… more

401k, Asset Management, Employee Retirement Income Security Act (ERISA), ETFs, Fiduciary Duty

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Ninth Circuit Finds Time Booting Up Computers May Be Compensable for Call Center Workers

The US Court of Appeals for the Ninth Circuit (which covers California, Nevada, Arizona, Alaska, Hawaii, Idaho, Montana, Oregon, and Washington) held on October 24 in a unanimous published opinion that because call center… more

Employer Liability Issues, Essential Functions, Fair Labor Standards Act (FLSA), Job Duties, Labor Regulations

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Employers: How Prepared Are You for Ebola?

Rapidly changing circumstances raise workplace questions. The Ebola epidemic in 2014 has already been confirmed by the U.S. Centers for Disease Control (CDC) as the worst in history. The extent of this outbreak is still… more

Best Management Practices, Centers for Disease Control and Prevention (CDC), Disaster Preparedness, Ebola, Health Insurance Portability and Accountability Act (HIPAA)

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Navigating Change: Innovation, Policy, and Market Shifts in the Automotive Industry

The automotive industry is undergoing a period of rapid transformation, driven by advancements in electric vehicle (EV) technology, artificial intelligence (AI), and digital connectivity amid shifting trade policies and evolving… more

Artificial Intelligence, Automotive Industry, Electric Vehicles, Innovation, Regulatory Requirements

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US Supreme Court Holds ‘Pure Omissions’ Not Actionable Under 10(b) of Securities Exchange Act, Resolving Circuit Split

In a blow to the plaintiffs’ securities bar, the US Supreme Court in Macquarie Infrastructure Corp. v. Moab Partners unanimously held that a “pure omission”—the failure to disclose information in the absence of an inaccurate,… more

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

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LinkedIn v. hiQ: Landmark Data Scraping Suit Provides Guidance to Data Scrapers and Web Operators

Following up on our April 27, 2022 post, Data Scraping Deemed Legal in Certain Circumstances, the most significant data scraping lawsuit has finally come to an end. After six years of litigation, LinkedIn Corp. and hiQ Labs,… more

Breach of Contract, Common Law Torts, Computer Fraud and Abuse Act (CFAA), Corporate Counsel, Estoppel

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California Wildfires: Essential Insurance Recovery Considerations for Businesses and Homeowners

The devastating wildfires that have rapidly spread across Los Angeles this month underscore the need for businesses and homeowners to be prepared to make insurance claims when natural disasters strike. This LawFlash details five… more

Business Interruption, California, Commercial Insurance Policies, Homeowners, Insurance Claims

See all updates »

Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding… more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

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National Mediation Board Revokes Jurisdiction over Airline Service Providers; NLRB Likely to Fill the Vacuum

In Swissport Cargo Services LP, the National Mediation Board drastically altered the labor landscape for airline service providers, abandoning 40 years of precedent, by determining that the Railway Labor Act does not apply to… more

Airlines, Jurisdiction, National Mediation Board (NMB), NLRA, NLRB

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USPTO Provides Guidance for Design Patent Applications Directed to Computer-Generated Electronic Images

The US Patent and Trademark Office (USPTO) published supplemental guidance on whether a design claim including a computer-generated electronic image is directed to statutory subject matter. While the USPTO’s examination of… more

Design Patent, Patent Applications, Patents, USPTO

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Facilities & Residential Services: Opportunities & Challenges

The facilities and residential services industry continues to evolve, marked by M&A growth, complex workforce structures, and increasing regulatory demands. Our multidisciplinary team is deeply experienced in supporting private… more

Acquisitions, Domain Names, Independent Contractors, Mergers, NLRB

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USPTO Clarifies and Expands Small Entity Status Exceptions

The US Patent and Trademark Office (USPTO) announced on December 4 a rule change to clarify and expand exceptions to small entity status, which primarily affects the fees that the USPTO charges patent applicants… more

Business Entities, Intellectual Property Protection, Investors, Patent Applications, Patents

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Sudden Termination of European and International Established Commercial Relations: Overview of Claiming Compensation in France

The sudden termination of a business relationship between a French company and a foreign company may lead to compensation being awarded to the company that has suffered the termination. However, in an international or European… more

Breach of Contract, Commercial Litigation, Contract Disputes, Contract Termination, Dispute Resolution

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Navigating Remote Work and Vaccine Mandates in Latin America: A Road Map for the Region

Faithful to the historically employee-friendly nature of laws and courts in the region, most regulators in Latin America are adopting policies to protect remote workers and their constitutional rights to make unpressured… more

Coronavirus/COVID-19, Employer Liability Issues, Employer Mandates, Employment Policies, Remote Working

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US Supreme Court Adopts Narrow Reading of TCPA’s Autodialer Ban: Four Things to Know

The US Supreme Court in Facebook, Inc. v. Duguid unanimously held on April 1 that the Telephone Consumer Protection Act’s definition of an autodialer is limited to systems that have the capacity either to store a telephone… more

ATDS, Auto-Dialed Calls, Corporate Counsel, Facebook, Facebook Inc v Duguid

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UK Financial Conduct Authority Adopts New Anti-Greenwashing Rule and Guidance

The UK Financial Conduct Authority (FCA) recently adopted a new anti-greenwashing rule, alongside supplemental guidance, requiring that financial service businesses regulated by the FCA ensure that any sustainability claims… more

Financial Conduct Authority (FCA), Financial Services Industry, Greenwashing, UK, UK Competition and Markets Authority (CMA)

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FTC Votes to Rescind Vertical Merger Guidelines, No Replacement Announced

The US Federal Trade Commission (FTC) recently voted to withdraw its approval of the Vertical Merger Guidelines (the 2020 VMGs), which, as we covered in the past, the FTC and Department of Justice (DOJ) issued over a year ago on… more

Antitrust Provisions, Competition, Department of Justice (DOJ), Federal Trade Commission (FTC), Merger Controls

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Ninth Circuit Holds That Social Media Posts Can Give Rise to Securities Act Liability

The US Court of Appeals for the Ninth Circuit recently held that a person who makes social media posts promoting securities—motivated at least in part by their own financial interests or those of the securities’ owner—is… more

Corporate Issuers, Disclosure Requirements, Public Offerings, Securities Act of 1933, Securities and Exchange Commission (SEC)

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COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for… more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the… more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following:… more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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Corporate Venture Capital Survey: Q1 2025

Our first quarter 2025 corporate venture capital (CVC) survey indicators demonstrate challenging market conditions, but with valuations increasing in surveyed transactions. In this survey, we track investment trends as the… more

Financial Markets, Investment, Investors, Private Equity, Venture Capital

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Responding to Requests to Delete - Morgan Lewis Practical Advice on Privacy: Guide to the CCPA

The recently proposed regulations implementing the California Consumer Privacy Act (CCPA) “establish procedures to facilitate consumers’ new rights under the CCPA and provide guidance to businesses for how to comply.” This… more

California Consumer Privacy Act (CCPA), Consumer Privacy Rights, Cybersecurity, Data Collection, Data Privacy

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Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true… more

Investment, Investors, Japan, Limited Partnerships, Partnerships

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Updated Guide to the 2020 Term Asset-backed Securities Loan Facility (TALF) Program (UPDATED)

The US Treasury Department and the Federal Reserve Bank of New York (the New York Fed) have announced the complete terms of a new Term Asset-Backed Securities Loan Facility (TALF) program, which is intended to address the… more

Asset-Backed Securities, Borrowers, CARES Act, Collateral, Collateralized Loan Obligations

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CPPA Board Finalizes New Rules on ADMT, Cybersecurity Audits, and Risk Assessments

The California Privacy Protection Agency (CPPA) board unanimously voted on July 24, 2025 to finalize a package of regulations related to automated decision-making technology (ADMT), cybersecurity audits, and risk assessments… more

Audits, Automated Decision Systems (ADS), California Consumer Privacy Act (CCPA), California Privacy Protection Agency (CPPA), Consumer Privacy Rights

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US Department of Labor Rolls Back Biden-Era FLSA Practices

The US Department of Labor has recently rolled back two critical Biden-era wage and hour practices. First, the DOL has stated that it will no longer enforce the 2024 Final Rule’s framework for determining employee or independent… more

Biden Administration, Department of Labor (DOL), Enforcement Actions, Fair Labor Standards Act (FLSA), Independent Contractors

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US Department of Labor Rolls Back Biden-Era FLSA Practices

The US Department of Labor has recently rolled back two critical Biden-era wage and hour practices. First, the DOL has stated that it will no longer enforce the 2024 Final Rule’s framework for determining employee or independent… more

Biden Administration, Department of Labor (DOL), Enforcement Actions, Fair Labor Standards Act (FLSA), Independent Contractors

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DIFC New Security Law: Creditors Beware

The Law of Security 2024 (New Law) came into effect in the Dubai International Financial Centre (DIFC) on 8 March 2024 (Effective Date), replacing the previous Law of Security 2005 (Old Law). Modelled after the UNCITRAL Model… more

Arbitration, DIFC, Dubai, UNCITRAL, United Arab Emirates (UAE)

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GENIUS Act Passes in US Congress: A Breakdown of the Landmark Stablecoin Law

The US House of Representatives passed the Guiding and Establishing National Innovation for US Stablecoins Act, or the “GENIUS Act,” on July 17, 2025, sending the landmark legislation to President Donald Trump for his signature… more

Anti-Money Laundering, Blockchain, Cryptocurrency, Digital Assets, Financial Regulatory Reform

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Indian Aviation and Cape Town: Part II

In Part I of this series, we explored the historical landscape that led to significant regulatory development in Indian aviation and the passage of the Protection of Interest in Aircraft Objects Bill, 2025. In Part II, we take a… more

Aircraft Financing, Aviation Industry, Cape Town Convention, Creditors, India

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Navigating Legal Risk and Compliance Across the Nuclear Energy Sector

As the nuclear energy sector enters a period of renewed growth, companies face a complex array of legal, regulatory, and operational challenges. From liability frameworks governing radiation exposure to evolving enforcement… more

Artificial Intelligence, Department of Energy (DOE), Department of Justice (DOJ), Employee Benefits, False Claims Act (FCA)

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Texas Soars into the Future: Driving Innovation and Growth in the Space Industry

With the establishment of the Texas Space Commission in 2024 through House Bill 3447 and rapid innovations toward space commercialization by industry-leading companies, NASA, and institutions of higher education in the state,… more

Aerospace, Infrastructure, Innovation, Innovative Technology, Investment

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Communication Tools in a Digital Age: How Might a Works Council Interface with Employees?

In a time of ultra-connected communication tools and work from home, the access rights of a France-based company’s works council (WC) to its electronic and internal communication resources is a necessity now more than ever… more

Data Privacy, Employee Privacy Rights, Employee Rights, Employer Responsibilities, France

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US Department of State Releases August 2025 Visa Bulletin

The US Citizenship and Immigration Services (USCIS) will use the Final Action Dates for Employment-Based Adjustment of Status Applications chart in August 2025. The Final Action Dates chart shows retrogression for some countries… more

EB-2, EB-3, Filing Deadlines, Final Action, Foreign Nationals

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US Attorneys Emphasize Benefits of New Voluntary Self-Disclosure Policy

Assistant Attorney General (AAG) Kenneth A. Polite Jr. of the US Department of Justice’s (DOJ’s) Criminal Division recently joined several high-profile, diverse US Attorneys at the inaugural Charlotte E. Ray Lecture and White… more

Compliance, Cooperation, Corporate Misconduct, Department of Justice (DOJ), Self-Disclosure Requirements

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Recent US Administration Actions Promote Coal Energy

President Donald Trump’s second inaugural address identified making America “energy dominant again” as one of four America First Priorities. Having issued several statements and executive orders in January that focused on… more

Clean Air Act, Coal Industry, Energy Policy, Environmental Policies, Executive Orders

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Navigating Evolving Cyber Regulations in the United States

Cyber regulations are crucial for the protection of individuals and businesses and aid in risk minimization; failure to comply with these regulations can result in severe consequences such as financial penalties, legal action,… more

Cyber Attacks, Cybersecurity, Data Privacy, Data Security, Disclosure Requirements

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NFTs: What's in Store for 2022?

2021 was a banner year for non-fungible token sales, which are projected to climb even higher in 2022. Selected by Collins English Dictionary as the 2021 Word of the Year, non-fungible tokens (NFTs) are unique blockchain-based… more

Art, Artists, Blockchain, Copyright, Cryptocurrency

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NLRB Changes Standard for Lawful Employer Statements During Union Organizing Campaigns

The National Labor Relations Board (NLRB or the Board) issued its decision on November 8, 2024 in Siren Retail Corp. d/b/a Starbucks, which changes the test for determining what an employer may lawfully say during an organizing… more

Employer Liability Issues, NLRA, NLRB, Unfair Labor Practices, Unions

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IP, Licensing, and M&A in the Life Sciences Industry: Trends to Watch in 2025

The life sciences industry has long been at the forefront of innovation, and 2025 promises to continue this trajectory with exciting developments in intellectual property (IP), licensing, and mergers and acquisitions (M&A). As… more

Acquisitions, Artificial Intelligence, Biologics, Biosimilars, Data Protection

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Florida’s New CHOICE Act Authorizes Garden Leave, Makes 4-Year Noncompete Agreements Easier to Enforce

The Florida House and Senate recently passed the Contracts Honoring Opportunity, Investment, Confidentiality, and Economic Growth (CHOICE) Act by an overwhelming majority. The CHOICE Act will substantially reshape Florida… more

Contract Terms, Employee Rights, Employer Responsibilities, Employment Contract, Florida

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Class Action Litigation Over Massachusetts Lie Detector Statute Surges: What Employers Need to Know

Massachusetts employers are increasingly being targeted in a growing wave of class action litigation under the commonwealth’s longstanding law G.L. c. 149, § 19B. In relevant part, the law requires that all job applications “for… more

Class Action, Damages, Employee Rights, Employer Responsibilities, Employment Litigation

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A New Era for the PTAB: Discretion Returns, Layoffs Loom, and Early Challenges Encouraged

The USPTO has launched a sweeping recalibration of its post-grant proceedings at the PTAB, signaling a decisive pivot back toward discretionary denials of patent challenges. With the rescission of prior procedural guidance, a… more

Inter Partes Review (IPR) Proceeding, Litigation Strategies, Patent Invalidity, Patent Litigation, Patent Trial and Appeal Board

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US Federal Government Expands CFIUS, Texas Joins States Limiting Foreign Control of Real Property

Texas joins the patchwork of states enacting legislation restricting foreign investment in real property with the enactment of the 2025 Texas Senate Bill No. 17, highlighting the growing state interest in national security. The… more

CFIUS, Constitutional Challenges, Foreign Investment, Foreign Ownership, National Security

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Navigating Legal Risk and Compliance Across the Nuclear Energy Sector

As the nuclear energy sector enters a period of renewed growth, companies face a complex array of legal, regulatory, and operational challenges. From liability frameworks governing radiation exposure to evolving enforcement… more

Artificial Intelligence, Department of Energy (DOE), Department of Justice (DOJ), Employee Benefits, False Claims Act (FCA)

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Wait a Minute, Mister Postman: DOL Issues Annual Funding Notice Guidance

The US Department of Labor (DOL) has issued new guidance in the form of Field Assistance Bulletin No. 2025-02 (FAB 2025-02) and updated model annual funding notices (AFNs) for single-employer and multiemployer pension plans. FAB… more

Department of Labor (DOL), Disclosure Requirements, Employee Benefits, Employee Retirement Income Security Act (ERISA), Filing Requirements

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Practical Applications of Recent USPTO Patent Eligibility Examples

The United States Patent and Trademark Office (USPTO) has released new guidance on patent subject matter eligibility (the Guidance), with a particular focus on artificial intelligence (AI) and related technologies. As noted by… more

Intellectual Property Protection, Inventions, Patent Applications, Patents, USPTO

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FTC Revives Price Discrimination Law in Suit Against Nation’s Largest Alcohol Distributor

On the eve of a new administration, the Federal Trade Commission (FTC) filed its first price-discrimination action under the Robinson-Patman Act (RPA) since 2000. The FTC sued Southern Glazer’s Wine and Spirits LLC in US… more

Competition, Federal Trade Commission (FTC), Price Discrimination, Retailers, Robinson-Patman Act

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Unlocking AI and Outsourcing: Strategies for Success

In today’s dynamic business landscape, outsourcing has become an indispensable tool for organizations seeking to streamline operations, cut costs, and access specialized expertise. Yet, as technology advances at an exponential… more

Artificial Intelligence, Innovative Technology, Machine Learning, Outsourcing, Technology Sector

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California Supreme Court Ruling Gives Guidance on Compensable Time Under California Law

The California Supreme Court issued its decision in Huerta v. CSI Electrical Contractors, providing further guidance to employers on when employee time spent in (1) security exit procedures, (2) traveling on employer property,… more

CA Supreme Court, Employer Liability Issues, Labor Code, State Labor Laws, Wage and Hour

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National Labor Relations Board Reinstates ‘Quickie’ Election Rules

In a move that marks the return of the Board’s “quickie” election rules, the National Labor Relations Board has announced changes to its representation-case procedures that will dramatically accelerate the pre-election timeline… more

Employer Liability Issues, NLRB, Quickie Election Rules, Union Elections, Unions

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Developments in SEC and FINRA Enforcement and Exams for Investment Advisers and Broker-Dealers: 2024–2025

The US Securities and Exchange Commission (SEC) brought a number of significant enforcement proceedings against investment advisers and broker-dealers in FY 2024 and during the first quarter of FY 2025. If history serves as a… more

Broker-Dealer, Compliance, Enforcement Actions, Financial Services Industry, Fraud

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California Law Will Obligate VC Firms to Report Portfolio Company Diversity Metrics

California Governor Gavin Newsom recently signed Senate Bill 54, which aims to increase diversity among founders that are backed by venture capital (VC) companies. If implemented in its current version, SB 54 will likely apply… more

California, Governor Newsom, Investors, Startups, Venture Capital

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Mexican Companies Face Risk of Secondary Sanctions From Mexican President’s Offer to Sell Gasoline to Venezuela

Mexican President Andrés Manuel López Obrador recently announced that Mexico is willing to ship gasoline to Venezuela notwithstanding the threat of US sanctions against such activity… more

Economic Sanctions, Exports, Foreign Policy, Mexico, Office of Foreign Assets Control (OFAC)

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IRS Announces Increased Gift and Estate Tax Exemption Amounts for 2024

The US Internal Revenue Service has announced that the annual gift tax exclusion is increasing in 2024 due to inflation. The exclusion will be $18,000 per recipient for 2024—the highest exclusion amount ever… more

Estate Planning, Estate Tax, Estate-Tax Exemption, Gift Tax, Gift-Tax Exemption

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AI in Investment Management: Opportunities, Pitfalls, and Regulatory Developments in Asia

Artificial intelligence has become one of the most transformative forces in modern finance, reshaping how investment firms operate, analyze data, and interact with clients. AI is no longer a futuristic concept but rather a… more

Artificial Intelligence, Asia, Cybersecurity, Financial Services Industry, FinTech

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White House Issues Executive Order to Fast-Track Data Center Development

In a major move to bolster US digital infrastructure, the White House issued an executive order on July 23, 2025 aimed at accelerating the federal permitting process for data centers and related infrastructure. The order is part… more

Artificial Intelligence, Data Centers, Department of Defense (DOD), Department of Energy (DOE), Department of the Interior

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Securities Enforcement Roundup – June 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from June 2025. In June 2025: Overall, we continue to see the SEC and other regulators focus on interactions… more

Cryptocurrency, Department of Justice (DOJ), Enforcement Actions, Final Rules, Foreign Corrupt Practices Act (FCPA)

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DOJ's Data Security Program Enforcement in Full Swing: Key Considerations for Companies

The US Department of Justice’s (DOJ’s) final rule implementing Executive Order (EO) 14117, Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern went into… more

China, Cybersecurity, Data Privacy, Data Security, Department of Justice (DOJ)

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EU/US Trade: Takeaways for Companies Amid Turbulent Tariff Policy

On July 11, 2025, the US administration threatened increased duties of 30% on products from the European Union and Mexico, two of the United States’ biggest trading partners—EU and Mexican exports combined accounted for around… more

EU, Imports, Risk Management, Supply Chain, Tariffs

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Blockbuster Biologics Review | Issue 27

Welcome to the latest issue of Blockbuster Biologics Review, which covers the status and developments of post-grant challenges and patent litigations implicating blockbuster biologics and legislative proposals related to… more

Biosimilars, Intellectual Property Litigation, Inter Partes Review (IPR) Proceeding, New Legislation, Patent Litigation

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A Proxy Season Wrap-up: Shareholder Proposals Target ESG and Equity Audits

In recent years, there has been a steady increase in shareholder proposals that target a public company’s ESG commitments, including diversity and inclusion data, environmental or emission programs, and community engagement. As… more

Corporate Governance, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG), Proxy Season, Proxy Statements

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NRC Approves Staff Withdrawal of Recommendations on Reactor Oversight Program Improvements

The NRC’s Commissioners approved an NRC Staff request on August 5 to withdraw two SECY memoranda related to improvements of the effectiveness and efficiency of the Reactor Oversight Process (ROP). These SECY papers were… more

Electricity, Energy Sector, Nuclear Power, Nuclear Regulatory Commission, Power Plants

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Powering Data Centers: President Issues Four Executive Orders to Expand and Accelerate the Development of US Nuclear Energy

As we have previously written, the rise in data center development has significantly increased predicted electricity demand. As a reliable, carbon-free source of base load power with an average capacity factor of 93% in the… more

Clean Energy, Data Centers, Department of Energy (DOE), Energy Policy, Energy Projects

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Lanham Act Only Extends to Claims Stemming from US Conduct that Causes a Likelihood of Confusion

The US Supreme Court unanimously overturned a $90 million verdict for trademark infringement under the Lanham Act, 97% of which was attributed to purely extraterritorial conduct. While the holding attempts to draw a bright-line… more

Abitron Austria GmbH v Hetronic International Inc, Extraterritoriality Rules, Foreign Sales, Intellectual Property Protection, Lanham Act

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IRS Guidance on Uncashed and Reissued Checks: An Opportunity to Review Payment Practices

In a release that was fairly unsurprising in content, the Internal Revenue Service issued Revenue Ruling 2025-15 to address a payor’s tax withholding and reporting obligations with respect to stale and reissued retirement plan… more

Benefit Plan Sponsors, Internal Revenue Code (IRC), IRS, Reporting Requirements, Retirement Plan

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Fifth Circuit Vacates SEC Private Fund Adviser Rules in Full

In a unanimous decision published on June 5, 2024, the US Court of Appeals for the Fifth Circuit vacated the entire set of regulations, including amendments to existing rules (collectively, the Rules), adopted by the US… more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investors, Private Funds

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UK Life Sciences Sector Plan: What In-House Legal and Compliance Teams Need to Know

The UK government recently unveiled its 10-year Life Sciences Sector Plan, putting forward a comprehensive strategy for transforming the UK into a global leader in life sciences by 2035. This LawFlash outlines key areas of… more

Biotechnology, Clinical Trials, Data Privacy, Intellectual Property Protection, Investment

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2018 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and cases regarding broker-dealers,… more

Broker-Dealer, Disgorgement, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investment Adviser

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Medicare Part D Creditable Coverage Online Disclosure Due March 1

Each year, employers that provide prescription drug coverage to Medicare-eligible individuals through a group health plan must complete a two-step process regarding the prescription drug coverage they offer to active employees… more

Centers for Medicare & Medicaid Services (CMS), Disclosure Requirements, Employee Benefits, Health Insurance, Medicare

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FTC Sues Private Equity Firm Over Alleged Anticompetitive Scheme Involving Roll-up Acquisitions

The US Federal Trade Commission is suing US Anesthesia Partners Inc. and its private equity founder for allegedly enacting an anticompetitive scheme to gain market power through a series of roll-up acquisitions… more

Anti-Competitive, Antitrust Provisions, Competition, Federal Trade Commission (FTC), Private Equity Firms

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An Expansion to the Experimental Use Exception to Patent Infringement in the Works?

The US Patent and Trademark Office is requesting public feedback on the current experimental use exception’s impact on technology sectors—and the public’s appetite for expanding the exception… more

Comment Period, Intellectual Property Protection, Patent Infringement, Patent Litigation, Patents

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Department of Labor Issues Final Rule Raising Salary Level for FLSA ‘White Collar’ Exemptions

On April 24, 2024, the US Department of Labor (DOL) announced the highly anticipated revisions to the salary thresholds for the Fair Labor Standards Act’s (FLSA’s) “white collar” overtime exemptions. The update significantly… more

Department of Labor (DOL), Employer Liability Issues, Exempt-Employees, Fair Labor Standards Act (FLSA), Final Rules

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European Council Issues Guidance on Recently Imposed ‘No Russia’ Clause for EU Exporters

EU-based aircraft owners and lessors, among other exporters, will soon have to incorporate a “No Russia” clause in their contracts with non-EU counterparties for the sale, supply, transfer, or export of aircraft and aircraft… more

Economic Sanctions, EU, Export Controls, Exporters, Exports

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California Announces 2022 Increase in Compensation Rate for Computer Professional Exemption

California employers must ensure that compensation rates for computer professionals meet updated salary thresholds, as of January 1, 2022. The California Department of Industrial Relations (DIR) issued a memo on October 18,… more

Compensation & Benefits, Computer Programmers, Consumer Price Index, Department of Industrial Relations, Department of Labor (DOL)

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CEQ Issues Draft Guidance on Evaluation of Greenhouse Gas Emissions

The guidance will significantly affect infrastructure projects located on federal land and federal permitting of major energy projects. On December 18, the White House’s Council on Environmental Quality (CEQ) issued draft… more

Climate Change, Draft Guidance, Energy Projects, Greenhouse Gas Emissions, Infrastructure

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New York Enacts Legislative ‘Fix’ for Legacy LIBOR Contracts Governed by NY Law; Will a Federal Fix Be Next?

The State of New York has enacted a new law that should ease the transition away from US dollar LIBOR for legacy financial contracts that are governed by New York law but do not contain modern benchmark fallback provisions… more

Alternative Reference Rates Committee (ARRC), Benchmarks, Consumer Financial Products, Financial Contracts, ICE Benchmark Administration (IBA)

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German Braunschweig Higher Regional Court Rules on Statutory ESG Reporting Obligations for Stock Corporation Management Boards

In a decision dated May 8, 2023 (case reference: 2 W 25/23), the Braunschweig Higher Regional Court (OLG) addressed the question of whether specific ESG reporting obligations can be provided for in the articles of association of… more

Environmental Social & Governance (ESG), Germany, Reporting Requirements, Stock Corporations

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Trump National Labor Relations Board Reverses Major Obama-Era Decisions

With the issuance of four recent decisions overruling key Obama-era National Labor Relations Board precedent and announcing a review of the NLRB’s 2015 election regulations, the NLRB has begun the process of charting a new… more

Joint Employers, NLRA, NLRB, Trump Administration

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Indian Aviation and Cape Town: Part II

In Part I of this series, we explored the historical landscape that led to significant regulatory development in Indian aviation and the passage of the Protection of Interest in Aircraft Objects Bill, 2025. In Part II, we take a… more

Aircraft Financing, Aviation Industry, Cape Town Convention, Creditors, India

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USPTO Implements PTAB Director Review Rules

The US Patent and Trademark Office (USPTO) implemented 37 CFR § 42.75 on October 31, 2024, establishing a formal framework for Director Review of Patent Trial and Appeal Board (PTAB) proceedings. During her tenure, Director… more

America Invents Act, Intellectual Property Protection, Patent Trial and Appeal Board, Patents, USPTO

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Leadership at the NRC Hanson Dismissed Wright Nominated for Reappointment

The NRC is undergoing a period of transition, including the unexpected departure of Commissioner Christopher Hanson. Commissioner Christopher Hanson Dismissed On June 14, 2025, Commissioner Christopher Hanson was relieved of… more

Administrative Appointments, Constitutional Challenges, Executive Authority, Government Agencies, Judicial Authority

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US Supreme Court Clarifies Where Corporations Can Be Sued for Patent Infringement

The United States Supreme Court clarified that 28 U.S.C. § 1400 is the exclusive venue statute for patent infringement cases, so the definition of “residence” for domestic corporations is limited to where they are incorporated… more

Patent Infringement, Patent Litigation, Patents, SCOTUS, TC Heartland LLC v Kraft Foods

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DOJ Breaks Silence on ADA Web Accessibility with New Guidance

Following a period of silence on whether the Americans with Disabilities Act requires websites to be accessible to persons with disabilities, the US Department of Justice released new guidance on March 18 focusing on covered… more

Americans with Disabilities Act (ADA), Department of Justice (DOJ), Disability Discrimination, New Guidance, Public Accommodation

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‘Settled Expectations,’ PTAB’s New Discretionary Denial Factor, Gains Additional Footing in Dabico

Acting Director of the USPTO Coke Morgan Stewart recently discretionarily denied institution of an inter partes review (IPR) based on a new consideration, “settled expectations,” that is, the length of time that the challenged… more

Appeals, Due Process, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Invalidity

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What Public Companies Should Consider Since the NYSE and Nasdaq Have Issued Proposed Clawback Listing Standards

On October 26, 2022, the US Securities and Exchange Commission (SEC) announced the adoption of its new rules directing national securities exchanges, including the New York Stock Exchange (NYSE) and the Nasdaq Stock Market… more

Clawbacks, Incentive Based Contracts, Listing Standards, Nasdaq, New Rules

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Navigating Labor and Employment Law Changes in the Aerospace and Defense Industry

The aerospace and defense industry operates in a complex regulatory environment in which labor and employment law is continuously evolving. Recent developments relating to the Uniformed Services Employment and Reemployment… more

Employee Rights, Employer Liability Issues, Federal Contractors, NLRB, Non-Compete Agreements

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Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not… more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

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UK Life Sciences Sector Plan: What In-House Legal and Compliance Teams Need to Know

The UK government recently unveiled its 10-year Life Sciences Sector Plan, putting forward a comprehensive strategy for transforming the UK into a global leader in life sciences by 2035. This LawFlash outlines key areas of… more

Biotechnology, Clinical Trials, Data Privacy, Intellectual Property Protection, Investment

See all updates »

CFPB Revokes Guidance in Sweeping Rollback of Agency Policies and Priorities

In a sweeping announcement, the Consumer Financial Protection Bureau (CFPB) revoked nearly 70 interpretive rules, advisory opinions, and guidance documents on May 12, 2025. The Federal Register Notice adds to the pullback on… more

Consumer Financial Protection Bureau (CFPB), Debt Collection, Enforcement Actions, Fair Credit Reporting Act (FCRA), Financial Institutions

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Litigation Risks Under the DC Consumer Protection Procedures Act: Defense Strategies and Mitigation

In recent years, public interest organizations have increasingly turned to the District of Columbia’s Consumer Protection Procedures Act (CPPA) to bring legal challenges against companies over their public environmental and… more

Consumer Protection Laws, Discovery, Environmental Litigation, Greenwashing, Injunctive Relief

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The Next Big Things: Insights for 2020

Autonomous cars, sports betting, and CBD products have burst onto the scene, setting the stage for major developments in how companies do business and how regulators monitor new innovations… more

Affordable Care Act, Appropriations Bill, Automotive Industry, Big Data, Bioengineering

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California Wildfires: Essential Insurance Recovery Considerations for Businesses and Homeowners

The devastating wildfires that have rapidly spread across Los Angeles this month underscore the need for businesses and homeowners to be prepared to make insurance claims when natural disasters strike. This LawFlash details five… more

Business Interruption, California, Commercial Insurance Policies, Homeowners, Insurance Claims

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Texas Soars into the Future: Driving Innovation and Growth in the Space Industry

With the establishment of the Texas Space Commission in 2024 through House Bill 3447 and rapid innovations toward space commercialization by industry-leading companies, NASA, and institutions of higher education in the state,… more

Aerospace, Infrastructure, Innovation, Innovative Technology, Investment

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NLRB General Counsel Expands Crackdown on Non-Competes with New Focus on ‘Stay-or-Pay’ Agreements

National Labor Relations Board (NLRB) General Counsel Jennifer Abruzzo released GC Memo 25-01 on October 7, 2024 further urging the Board to find non-compete agreements, particularly “stay-or-pay” practices, unlawful and broaden… more

Contract Terms, Employer Liability Issues, Employment Contract, NLRA, NLRB

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Practical Guidance on Labor and Employment Issues in a Post-Chevron World

With the US Supreme Court’s June 28 decision in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce, the four-decades Chevron doctrine is no longer. While the Court’s decision has altered administrative… more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Department of Labor (DOL), Equal Employment Opportunity Commission (EEOC)

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2024 Amendments to India's Patent Rules: Unlocking Cross-Border IP Opportunities

In March 2024, the Indian Ministry of Commerce and Industry published changes to its 2003 Patent Rules. These applicant-friendly changes include (1) a relaxation in the rules relating to the submission of information regarding… more

Artificial Intelligence, European Patent Office, Intellectual Property Protection, Patent Applications, Patent Infringement

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US Administration, Congress, and SEC and CFTC Leadership Push for Unified Digital Asset Framework

February 2025 has already proven to be a busy month in the congressional and US Securities and Exchange Commission public discourse regarding the digital assets sector. Members of the SEC and US Congress made significant… more

CFTC, Cryptoassets, Cryptocurrency, Digital Assets, FinTech

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Federal Panel’s Decision Not to Centralize Certain COVID-19 Insurance Lawsuits Provides Strategic Opportunities for Policyholders

The US Judicial Panel on Multidistrict Litigation (Panel) previously declined to centralize all coronavirus (COVID-19)-related business interruption insurance lawsuits, but left open the possibility of certain insurer-specific… more

Business Interruption, Coronavirus/COVID-19, Corporate Counsel, Hartford Insurance Company, Infectious Diseases

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ADA Compliant Websites: Uptick in Litigation Against Financial Services Firms, Increased Regulatory Attention

Amid a notable recent uptick in website accessibility cases, both threatened and filed, against financial services companies alleging violations under the Americans with Disabilities Act (ADA) and/or similar state and local… more

Americans with Disabilities Act (ADA), Department of Justice (DOJ), Disability Discrimination, Public Accommodation, Securities and Exchange Commission (SEC)

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SEC Amends Registered Fund Reporting Requirements, Issues Guidance on Liquidity Risk Management Programs

The US Securities and Exchange Commission (SEC), by a 3-2 vote, recently adopted amendments to registered fund reporting requirements on Form N-PORT and Form N-CEN and provided guidance on open-end funds’ liquidity risk… more

Form N-CEN, Form N-PORT, Investment Companies, Investment Company Act of 1940, Liquidity

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USPTO Withdraws Proposed Terminal Disclaimer Rule

The United States Patent and Trademark Office (USPTO) has withdrawn a proposed rule for filing terminal disclaimers to overcome obviousness-type double patenting rejections. The proposed rule would likely have had wide… more

Double Patent, Intellectual Property Protection, Obviousness, Patents, USPTO

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2024 Antitrust & Competition Year in Review and Trends for 2025

The past year marked the culmination of the Biden antitrust era. Under assertive leadership, the Federal Trade Commission (FTC) and the United States Department of Justice Antitrust Division (DOJ) adopted a more aggressive… more

Acquisitions, Antitrust Division, Antitrust Provisions, Antitrust Violations, Competition

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Texas Governor Instructs Hospitals to Postpone Surgeries and Procedures

Texas Governor Greg Abbott issued Executive Order No. GA-27 on June 25 relating to the need for increased hospital capacity during the coronavirus (COVID-19) pandemic. As COVID-19 numbers in Texas surge, the order aims to… more

Coronavirus/COVID-19, Critical Infrastructure Sectors, Elective Surgical Procedures, Executive Orders, Health Care Providers

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EU’s Highest Court Expands EU GDPR Restrictions on Automated Decision-Making, Profiling, and AI

A recent decision by the Court of Justice of the European Union will extend the EU General Data Protection Regulation’s automated decision-making restrictions to many present and future use cases of such technologies. While the… more

Artificial Intelligence, Corporate Counsel, Court of Justice of the European Union (CJEU), Data Protection, EU

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Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 3—Impact on Mergers and Acquisitions

This is the third part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC), banning the enforcement of almost all noncompete… more

Acquisitions, Employee Benefits, Employer Liability Issues, Employment Contract, Executive Compensation

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NJ State Contractors Required to Mandate Vaccination or Weekly Covid-19 Testing – Publications

Under a newly signed executive order in New Jersey, all state contractors and subcontractors entering agreements with the state must include a clause that requires all covered workers to either provide adequate proof to the… more

Coronavirus/COVID-19, Employer Liability Issues, Executive Orders, Governor Murphy, Public Health

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The Introduction of Commercial Courts and Commercial Chambers in Germany

On April 1, 2025, the Act to Strengthen the Judicial System (Justizstandort-Stärkungsgesetz – Strengthening Act) came into force. This Act authorizes the federal states to establish specialized chambers for commercial matters at… more

Arbitration, Commercial Court, Commercial Litigation, Dispute Resolution, Germany

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DoD Opens Loan Applications for $1 Billion in Funding for Critical Technologies

The new year has brought with it new funding opportunities from the US government in support of companies developing technologies crucial to national security. On January 2, 2025, the Office of Strategic Capital (OSC) of the US… more

Capital Investments, Cybersecurity, Department of Defense (DOD), Investment, Loans

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COVID-19: Reopening Businesses, Potential Personal Injury Theories, And Mitigating Risks

REOPENING BUSINESS IN THE WAKE OF COVID-19 - As federal, state, and local regulators issue guidelines allowing businesses to reopen during the coronavirus (COVID-19) crisis, businesses face the risk of personal injury claims… more

Coronavirus/COVID-19, Occupational Exposure, Premises Liability, Re-Opening Guidelines, Risk Mitigation

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‘Mini-HSR’ Acts Take Effect in Washington and Colorado, with Similar Legislation Pending in Other States

Colorado and Washington state recently became the first states to adopt their own smaller versions of the Hart-Scott-Rodino Antitrust Improvements (HSR) Act. These “mini-HSR” state laws require certain parties that submit… more

Antitrust Provisions, Filing Requirements, Hart-Scott-Rodino Act, Merger Controls, Merger Reviews

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EU/US Trade: Takeaways for Companies Amid Turbulent Tariff Policy

On July 11, 2025, the US administration threatened increased duties of 30% on products from the European Union and Mexico, two of the United States’ biggest trading partners—EU and Mexican exports combined accounted for around… more

EU, Imports, Risk Management, Supply Chain, Tariffs

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Securities Enforcement Roundup – May 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from May 2025. In May 2025: More ongoing developments in the crypto enforcement area at the US… more

Cryptocurrency, Digital Assets, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investors

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DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting… more

Artificial Intelligence, Department of Justice (DOJ), Fraud, Securities and Exchange Commission (SEC), Self-Disclosure Requirements

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving… more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

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Life Sciences Industry: Key Trends and Developments for Asia-based Investors

With the consequences of the global pandemic still reverberating throughout the Asia-Pacific region, governments and businesses in the area continue to focus on the life sciences industry. From startups to global multinational… more

CFIUS, China, Foreign Direct Investment, Foreign Investment, Investors

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‘… this isn’t Hotel California’ (or India’s New Fixed Offer Price Mechanism for Taking Public Companies Private)

The Securities and Exchange Board of India has decided to simplify the process of taking public companies private in India by permitting fixed-price delisting offers as an alternative to the existing requirement of determining… more

Board of Directors, Corporate Governance, India, Publicly-Traded Companies, Shareholders

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State of the Fintech M&A Landscape: Market Trends and Regulatory and Enforcement Considerations

Three months into 2023 and the fintech landscape looks wildly different than this time one year ago. Global economic uncertainty clouds the fintech industry, with it facing challenges from rising interest rates, significant… more

Acquisitions, Blockchain, Cryptocurrency, Digital Assets, Financial Services Industry

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Crypto, Private Equity, and Real Estate in Your 401(k)? Latest Executive Order Could Redefine Retirement Investing

The US administration issued an executive order aiming to expand access to alternative investments, including cryptocurrency, private equity, and real estate, in ERISA-governed retirement accounts… more

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

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Long Awaited ESOP Proposals Issued and Then Quickly Withdrawn

On January 20, 2025, an executive order froze two new pieces of proposed employee stock ownership plan (ESOP) guidance announced in a notice of proposed rulemaking and originally set for publication in the Federal Register on… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP, Executive Orders

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New York and California: Bans on PFAS in Textiles and Apparel Begin January 1, 2025

Bans in California and New York on textile articles and apparel containing per- and polyfluoroalkyl substances (PFAS) will take effect January 1, 2025. That same day, Colorado will commence its phased approach to prohibit PFAS… more

Disclosure Requirements, Hazardous Substances, Manufacturers, PFAS, Textiles

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Navigating Change: Innovation, Policy, and Market Shifts in the Automotive Industry

The automotive industry is undergoing a period of rapid transformation, driven by advancements in electric vehicle (EV) technology, artificial intelligence (AI), and digital connectivity amid shifting trade policies and evolving… more

Artificial Intelligence, Automotive Industry, Electric Vehicles, Innovation, Regulatory Requirements

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Second Circuit 'Shuts the Door' on Meta Pixel VPPA Claims

The US Court of Appeals for the Second Circuit has repeatedly affirmed dismissals of putative class actions brought under the Video Privacy Protection Act (VPPA) based on the use of third-party tracking technologies. The Second… more

Appeals, Class Action, Data Privacy, Facebook, Litigation Strategies

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EU AI Office Publishes Third Draft of EU AI Act-Related General-Purpose AI Code of Practice: Key Copyright Issues

This LawFlash summarizes key EU copyright aspects of the European AI Office’s third draft of its General-Purpose AI Code of Practice developed in connection with the EU AI Act. The Code of Practice sets out “commitments” and… more

AI Act, Algorithms, Copyright, Copyright Infringement, Corporate Counsel

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German Federal Fiscal Court Questions Practice of Imposing Double Real Estate Transfer Tax on Share Deals

In proceedings to suspend enforcement, the German Federal Fiscal Court has expressed serious doubts about the administrative practice of imposing double real estate transfer tax in share deals. In particular, the court believes… more

Acquisitions, Germany, Real Estate Holding Companies, Real Estate Transactions, Real Estate Transfers

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Securities Enforcement Roundup – May 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from May 2025. In May 2025: More ongoing developments in the crypto enforcement area at the US… more

Cryptocurrency, Digital Assets, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investors

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One Big Beautiful Bill Act Tax Proposals: Select Highlights and Implications

The US House of Representatives on May 22, 2025 passed the One Big Beautiful Bill Act (the Act), which includes a tax package that would extend certain provisions of the 2017 Tax Cuts and Jobs Act set to expire at the end of… more

Clean Energy, Energy Policy, Energy Sector, Inflation Reduction Act (IRA), Investment Funds

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Impact on IP Law in the Wake of US Supreme Court’s Decision

The US Supreme Court’s June 28, 2024 decision in Loper Bright Enterprises v. Raimondo and Relentless Inc. v. Department of Commerce overruled the forty-year-old Chevron U.S.A. Inc. v. Natural Resources Defense Council Inc… more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

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FTC Raises Hart-­Scott-­Rodino Thresholds and Filing Fees for 2025

The Federal Trade Commission (FTC) announced on January 10, 2025 that it will raise the Hart­-Scott­-Rodino Act (HSR Act) jurisdictional and filing fee thresholds. The increased thresholds will go into effect 30 days after their… more

Acquisitions, Antitrust Provisions, Competition, Corporate Counsel, Federal Trade Commission (FTC)

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Antitrust Scrutiny of ESG Initiatives by State Attorneys General Heats Up

Recent actions by state attorneys general in Texas and Florida highlight rising antitrust scrutiny of environmental, social, and governance (ESG)-aligned investment strategies and climate disclosure groups. Companies with… more

Antitrust Investigations, Antitrust Litigation, Antitrust Provisions, Climate Change, Competition

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Generative AI and Antitrust Enforcement: Understanding the GenAI ‘Stack’

The rapid rise of generative artificial intelligence (GenAI) is poised to revolutionize industries and potentially unleash efficiencies and innovation in the global economy. However, this transformative technology has also… more

Antitrust Provisions, Artificial Intelligence, Best Practices, Competition, Corporate Counsel

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Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative… more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

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Institutional Shifts in College Sports: Private Equity, Athlete Pay, and Legal Risk

College sports are undergoing a seismic shift as commercial activity accelerates and athlete compensation evolves. With the approval of the House vs. NCAA settlement and a surge in private investment, the traditional model of… more

Antitrust Provisions, College Athletes, Compliance, Investment, Name and Likeness

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New York’s DOL Publishes New Guidance, FAQs on Retail Workers Safety Act

Just days before the Retail Worker Safety Act took effect on June 2, 2025, the New York State Department of Labor issued guidance, model training, and a sample policy to assist covered employers with compliance. The act, signed… more

Employee Training, Employer Responsibilities, New Guidance, New Legislation, New York

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Antitrust Scrutiny of ESG Initiatives by State Attorneys General Heats Up

Recent actions by state attorneys general in Texas and Florida highlight rising antitrust scrutiny of environmental, social, and governance (ESG)-aligned investment strategies and climate disclosure groups. Companies with… more

Antitrust Investigations, Antitrust Litigation, Antitrust Provisions, Climate Change, Competition

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IRS Expands Self-Correction Program, Issues Other Technical Changes in Update to EPCRS

The Internal Revenue Service (IRS) issued an important update late last month to the Employee Plans Compliance Resolution System (EPCRS) in Revenue Procedure 2019-19. The IRS provided a helpful summary of the changes. The most… more

EPCRS, IRS, Retirement Plan

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New Duty to Prevent Sexual Harassment for UK Employers Now in Effect

A new duty came into force on 26 October 2024 requiring UK employers to take reasonable steps to prevent sexual harassment of employees in the course of their employment under the Worker Protection (Amendment of Equality Act… more

Employee Rights, Employer Liability Issues, Equality and Human Rights Commission (EHRC), International Labor Laws, Sexual Harassment

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Debtors Need Not Apply? Continuing Developments on the SBA’s Authority to Deny PPP Loans to Debtor Applicants

The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the… more

Bankruptcy Code, CARES Act, Commercial Bankruptcy, Coronavirus/COVID-19, Debtors

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Developing and Investing in Automotive Production in China

The growth of automobile production and sales in China, particularly in the realm of alternative fuel vehicles (New Energy Vehicles or NEVs), has been nothing short of explosive, experiencing a nearly 1,000-fold increase between… more

Alternative Fuels, Automotive Industry, China, Foreign Investment, Transportation Industry

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New Jersey Supreme Court Decision Requires Review of Non-Disparagement Agreements

On May 7, 2024, the New Jersey Supreme Court ruled that non-disparagement provisions precluding discussion of discrimination, retaliation, or harassment claims are unenforceable. We delve into the Court’s reasoning, as well as… more

Employer Liability Issues, Employment Contract, NJ Supreme Court, Non-Disclosure Agreement, Non-Disparagement Provisions

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New York Labor Law Amendment Limits Damages for ‘Frequency-of-Pay’ Violations

New York recently passed an amendment to New York Labor Law (NYLL) § 198(1-a) that significantly limits the available damages for a violation of NYLL § 191(1)(a) in a “frequency-of-pay” lawsuit… more

Amended Legislation, Damages, Employees, Employer Liability Issues, Employment Litigation

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National Labor Relations Board Reinstates ‘Quickie’ Election Rules

In a move that marks the return of the Board’s “quickie” election rules, the National Labor Relations Board has announced changes to its representation-case procedures that will dramatically accelerate the pre-election timeline… more

Employer Liability Issues, NLRB, Quickie Election Rules, Union Elections, Unions

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Silicon Valley Bank Collapse: Initial Issues Raised

The California Department of Financial Protection & Innovation on March 10 declared Silicon Valley Bank insolvent and appointed the FDIC as receiver. To help with the resolution of SVB, the FDIC created the Deposit Insurance… more

Banking Sector, Deposit Insurance, Disclosure Requirements, FDIC, Financial Crisis

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Navigating Change: Innovation, Policy, and Market Shifts in the Automotive Industry

The automotive industry is undergoing a period of rapid transformation, driven by advancements in electric vehicle (EV) technology, artificial intelligence (AI), and digital connectivity amid shifting trade policies and evolving… more

Artificial Intelligence, Automotive Industry, Electric Vehicles, Innovation, Regulatory Requirements

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EU Clean Industrial Deal: A New Plan to Bring Together Climate Action and Competitiveness

The European Union has adopted the Clean Industrial Deal, a roadmap aiming to bring together climate action and competitiveness under one overarching growth strategy for the EU industry. The European Commission released the… more

Carbon Emissions, Clean Energy, Climate Change, Competition, Energy Policy

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Environmental Regulation Under the New Administration: Key Shifts and Implications for Industry

The first few months of the new US administration have brought sweeping changes to the country’s environmental regulatory landscape. Through a spate of executive orders, agency directives, and staffing restructurings, the… more

Clean Energy, Climate Change, Energy Policy, Environmental Justice, Executive Orders

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DOL’s VFCP Final Rule Adds Limited ‘Self-Correction’ Program for Late Contributions, Participant Loan Failures

The Employee Benefits Security Administration recently released its final rule amending and restating the Voluntary Fiduciary Correction Program, along with corresponding amendments to a related class exemption, Prohibited… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Final Rules

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Exploring the Legal Frontier of Space and Satellite Innovation

For companies in the aerospace and defense industry, the future of space innovation involves far more than rockets and satellites. Intellectual property, technology transfers, data privacy, and life sciences are among the fields… more

Data Privacy, Export Controls, FCC, Government Agencies, Intellectual Property Protection

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Update: United States Expands Sanctions, Export Controls in Response to Russian Operations in Ukraine

Based on the evolving military operations of the Russian Federation in Ukraine, the United States has imposed additional sanctions on the Russian Federation, Russian leadership, and various financial institutions and companies… more

Asset Freeze, Biden Administration, Blocking Sanctions, Economic Sanctions, Export Administration Regulations (EAR)

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US Supreme Court Agrees to Hear Recordkeeping Fees Case Against Cornell University

In 2017, several private universities were hit with ERISA class actions alleging various breaches of fiduciary duty and prohibited transactions—including claims that these universities’ defined contribution plans charged… more

Breach of Duty, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Retirement Plan

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Consumer Finance in the US Automotive Industry

As the legal environment for consumer financial services continues to shift through 2025, regulatory activity in the automotive sector has emerged as a fast-evolving area of focus for industry stakeholders. Recent developments… more

Automotive Industry, Consumer Financial Protection Bureau (CFPB), Consumer Protection Laws, Credit Reports, Data Protection

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London Court of International Arbitration Is Granted Exemption from Russia and Belarus Sanctions

The United Kingdom’s Office of Financial Sanctions Implementation (OFSI) has granted the London Court of International Arbitration (LCIA) a General Licence allowing it to process payments from designated parties (DPs) who are… more

Belarus, Belarus Sanctions, Economic Sanctions, International Arbitration, London Court of International Arbitration

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Federal Circuit Applies Prosecution History Estoppel Based on Claim Cancellation

The US Court of Appeals for the Federal Circuit recently held that cancellation of a claim during prosecution may give rise to prosecution history estoppel, precluding the patentee from recapturing the surrendered subject matter… more

Appeals, CAFC, Claim Construction, Doctrine of Equivalents, Patent Infringement

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Staying Resilient Amid Global Tariff Uncertainty

From reciprocal tariffs and retaliatory investigations to paused agreements and looming re-escalations, the global tariff landscape remains as turbulent as ever. Morgan Lewis recently hosted a three-part webinar series examining… more

China, Enforcement Actions, EU, Risk Management, Supply Chain

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OFAC Action Shows Risk of Not Recognizing That ‘Property Interests’ Include ‘Any Interest Whatsoever’

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) fined GVA Capital Ltd. $215 million, primarily for violating the Ukraine/Russia-related sanctions regulations, when GVA mistakenly concluded that it… more

Beneficial Owner, Economic Sanctions, Enforcement Actions, Fund Managers, Investment Funds

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California’s Pandemic Stay-at-Home Order Didn’t Excuse Employer’s Obligation to Reimburse Necessary Work-From-Home Expenses

The California Court of Appeal held in Thai v. International Business Machines Corp. that even if government-mandated stay-at-home orders during the COVID-19 pandemic were an intervening cause of employees working from home and… more

Employer Liability Issues, Job Duties, Reimbursements, Remote Working

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New Section 174A Restores Domestic R&E Deductibility, but Other Changes Bring Mixed Results

President Donald Trump signed into law the One Big Beautiful Bill Act on July 4, 2025. Among many other provisions, this bill permits taxpayers to deduct domestic research and experimentation (R&E) expenditures under new Section… more

Corporate Taxes, Internal Revenue Code (IRC), New Legislation, Research and Development, Small Business

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Guide to Japanese Corporate Venture Capital Investments

The number of Japan’s corporate venture capital (CVC) funds, which invest corporate funds directly in external startup companies, and the amount of their investments have risen markedly in recent years. This is especially true… more

Investment, Investors, Japan, Limited Partnerships, Partnerships

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Transitioning to Post-SECURE 2.0 Pension Overpayment Recovery Practices

As we have previously discussed, the SECURE Act 2.0 of 2022 (SECURE 2.0) changed the game for plan sponsors when considering whether and how to recover retirement plan overpayments. The new rules provide welcome relief and… more

Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Pensions, Retirement Plan

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New Restatement Rule Expands Vicarious Liability for Employee Sexual Misconduct

The American Law Institute approved a controversial new provision of the Restatement of Torts, Third expanding vicarious liability to employers for certain sexual assaults committed by employees against third parties who are… more

Commercial Insurance Policies, Employer Liability Issues, Employer Responsibilities, Employment Litigation, Independent Contractors

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The Impact of the ‘One Big Beautiful Bill Act’ on Nuclear Tax Incentives

The One Big Beautiful Bill Act alters the landscape of nuclear energy tax incentives, with significant implications for nuclear developers, investors, and stakeholders. This LawFlash breaks down how the bill may affect financing… more

Clean Energy, Energy Policy, Energy Projects, Energy Tax Incentives, Inflation Reduction Act (IRA)

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New Texas Legislation on Color Additives – Takeaways for Industry

As we have previously discussed, state and federal government authorities are turning their attention toward artificial coloring in foods. Most recently, Texas Governor Greg Abbott signed into law SB 25 targeting the sale of… more

Consumer Protection Laws, Enforcement Actions, False Advertising, Food Labeling, Food Manufacturers

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Navigating Change: Innovation, Policy, and Market Shifts in the Automotive Industry

The automotive industry is undergoing a period of rapid transformation, driven by advancements in electric vehicle (EV) technology, artificial intelligence (AI), and digital connectivity amid shifting trade policies and evolving… more

Artificial Intelligence, Automotive Industry, Electric Vehicles, Innovation, Regulatory Requirements

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New Tariffs, Old Risks: Antitrust Considerations

With regulatory scrutiny by governments on the rise, this LawFlash summarizes key antitrust issues for companies in all industries affected by tariffs. History shows that cartels tend to form in times of rapid economic change… more

Antitrust Provisions, Antitrust Violations, Competition Authorities, Enforcement Actions, Information Sharing

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Treasury and the IRS Finalize Section 897 ‘Domestically Controlled’ Look-Through Rule

On April 24, the Internal Revenue Service (IRS) issued final regulations (Final Regulations) regarding Section 897. In December 2022, the IRS issued proposed regulations under Sections 897 (the Proposed Regulations) and 892 of… more

Income Taxes, Internal Revenue Code (IRC), IRS, Tax Planning, U.S. Treasury

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'Made in USA' Claims: Compliance Refresher and Best Practices

With tariffs reshaping the trade landscape and patriotic holidays on the horizon, companies are looking for ways to showcase their US origin, presence, and footprint. But while “Made in USA” claims offer powerful consumer… more

Advertising, Consumer Protection Laws, Enforcement Actions, False Advertising, Manufacturers

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Retail Reopens Guide

As local and national governments begin easing pandemic-related restrictions on in-person activities, businesses must weigh how best to proceed with reopening, including restarting or expanding operations, reintegrating… more

CARES Act, Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities, Personal Protective Equipment

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Need for Action: Employment of Freelance Teachers

On June 28, 2022, the Federal Social Court (BSG) ruled on the employment of a music teacher (case reference: B 12 R 3/20 R). The teacher was deployed as a "freelance" teacher at a music school in Herrenberg and received a fee… more

Employer Liability Issues, Independent Contractors, Social Security, Teachers

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COVID-19: What Servicers Should Know About Managing Mortgage Loan Forbearances

Federal and state regulators and Congress continue to release new guidance and requirements to assist mortgage borrowers facing economic hardships resulting from the coronavirus (COVID-19) pandemic… more

CARES Act, Coronavirus/COVID-19, Fannie Mae, FHFA, Financial Distress

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SEC’s New Data Breach Requirement Increases Obligations for Financial Services Companies

The US Securities and Exchange Commission has adopted amendments to Regulation S-P requiring entities under its remit to provide notice to individuals affected by certain types of data breaches. This adds yet another obligation… more

Amended Regulation, Cybersecurity, Cybersecurity Information Sharing Act (CISA), Data Breach, Regulation S-P

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California Announces Increase in Compensation Rate for Computer Professional Exemption in 2025

California employers must ensure that compensation rates for computer professionals meet new salary thresholds, effective January 1, 2025. Employers must prepare now for the new computer professional exemption salary rates to… more

Employer Liability Issues, Employment Policies, State Labor Laws, Wage and Hour

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SEC Staff Issues Updated Marketing Rule FAQs

SEC Staff published new guidance providing private fund managers and other investment advisers with flexibility to use extracted performance and portfolio/investment characteristics in marketing materials, without cumbersome… more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investment Funds, Investment Management

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PLF 2025 Adopted in France

The PLF 2025, definitively adopted by the Senate on 6 February 2025 following a months-long process, is currently being examined by the French Constitutional Council… more

Anti-Avoidance, Capital Gains, Corporate Taxes, Dividends, Employee Benefits

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Qualified Data Center Purchases Now Eligible for Massachusetts Sales and Use Tax Exemption

As part of a broad economic development bill recently passed by the Massachusetts Legislature and signed into law by Governor Maura Healey, the owner or operator of a qualified data center may now apply for a sales tax exemption… more

Construction Project, Data Centers, Economic Development, Infrastructure, Sales Tax

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Carbon Dioxide Storage Act Amendment: An Important Step Toward Decarbonizing the German Industry?

On May 29, 2024, the German Federal Cabinet adopted a draft law to amend the Carbon Dioxide Storage Act (Kohlendioxid-Speicherungsgesetz – KSpG) and key points of a carbon management strategy. The draft law is based on a draft… more

Carbon Emissions, Climate Change, Energy Sector, Germany, Renewable Energy

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SEC Requests Public Comment on Changes to the Definition of ‘Foreign Private Issuer’

On June 4, 2025, the US Securities and Exchange Commission published a concept release to solicit comments on whether and how the definition of “foreign private issuer” (FPI) should be changed. As a result of recent developments… more

Capital Markets, China, Disclosure Requirements, Foreign Private Issuers, Proposed Amendments

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Morgan Lewis Automotive & Mobility – Q3 | 2023

Welcome to the 37th edition of our newsletter on developments in the automotive industry, published by Morgan Lewis’s automotive and mobility team with contributions from lawyers in our offices around the globe. We counsel our… more

Acquisitions, Antitrust Provisions, Automotive Industry, Competition, Mergers

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Reinforcing Ethics and Oversight in Corporate Governance: Essentials for Public Companies

In an environment where public scrutiny is high and enforcement expectations are rising, investing in strong corporate ethics and oversight frameworks has become a strategic necessity for public companies. Effective compliance… more

Board of Directors, Corporate Governance, Form 8-K, Listing Rules, Publicly-Traded Companies

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16 States Challenge Gender-Affirming Care EO as DOJ Scrutinizes Hospitals, Doctors, and Pharma Manufacturers

On August 1, 2025, 16 state attorneys general filed a complaint in federal court in Massachusetts against the US administration seeking a declaratory judgment that President Trump’s January 28, 2025 Executive Order 14187,… more

Constitutional Challenges, Department of Health and Human Services (HHS), Department of Justice (DOJ), Executive Orders, False Claims Act (FCA)

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Electric Utilities Affected by Recent EPA Regulation May Benefit from Legacy Liability Insurance Policies

The US Environmental Protection Agency (EPA) on May 8, 2024 expanded the obligations of coal-fired power plants to remediate coal ash-related groundwater impacts with amendments to the federal Coal Combustion Residual (CCR)… more

Environmental Protection Agency (EPA), Groundwater, Insurance Industry, Water

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Supreme Court Broadens Wire Fraud Liability to Include Fraudulent Inducement Without Economic Loss

The US Supreme Court’s ruling on May 22, 2025 expands the scope of federal wire fraud to include convictions based on fraudulent inducement even without economic harm. This development raises the stakes for entities involved in… more

Contract Terms, Criminal Prosecution, Federal Acquisition Regulations (FAR), Fraud, Fraudulent Inducement

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Nasdaq Proposes New Board Diversity Composition and Disclosure Requirements

The Nasdaq Stock Market (Nasdaq) announced that it had submitted a proposal to the US Securities and Exchange Commission (SEC) seeking approval of new listing rules to advance board diversity and increase transparency to… more

Board of Directors, Corporate Governance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Gender Equity

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SEC Modernizes Business, Legal Proceedings, and Risk Factor Disclosures Under Regulation S-K

The US Securities and Exchange Commission announced that it voted on August 26 to adopt amendments to Regulation S-K to modernize the description of business, legal proceedings, and risk factor disclosures that registrants are… more

Corporate Governance, Disclosure Requirements, Financial Regulatory Reform, Publicly-Traded Companies, Regulation S-K

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GENIUS Act Passes in US Congress: A Breakdown of the Landmark Stablecoin Law

The US House of Representatives passed the Guiding and Establishing National Innovation for US Stablecoins Act, or the “GENIUS Act,” on July 17, 2025, sending the landmark legislation to President Donald Trump for his signature… more

Anti-Money Laundering, Blockchain, Cryptocurrency, Digital Assets, Financial Regulatory Reform

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Massachusetts Publishes FAQs on Pay Transparency Act as Deadline Nears

The Commonwealth of Massachusetts has published frequently asked questions (FAQS) on its new pay transparency law requiring employers with 100 or more employees in Massachusetts during the prior calendar year to submit workforce… more

EEO-1, Employees, Equal Employment Opportunity Commission (EEOC), Pay Transparency, Reporting Requirements

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A German Court Goes Green? Recent Developments in German Climate Litigation

The Higher Regional Court Hamm dismissed a Peruvian farmer’s claim against a large international energy group for damages related to climate change but acknowledged in an obiter dictum that such claims may be legally possible… more

Appeals, Climate Change, Damages, Energy Sector, Environmental Litigation

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California Public Agency Open-Meeting Rules Relaxed Amid COVID-19

California Governor Gavin Newsom has issued multiple orders affecting how and under what conditions state and local agencies may meet and discuss and/or approve of contracts for services and products during the coronavirus… more

Coronavirus/COVID-19, Executive Orders, Government Agencies, Public Meetings, Ralph M. Brown Act

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Processed Food Industry in the Crosshairs: FDA and USDA’s Ultra-Processed Food Request for Information

Last week’s issuance of a request for information (RFI) in the Federal Register by the FDA and the US Department of Agriculture (USDA) marks the first step in the administration’s effort to address health concerns associated… more

Consumer Protection Laws, Food and Drug Administration (FDA), Food Labeling, Food Manufacturers, Food Safety

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

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The LSTA Case: DC Circuit Court Delivers Victory for CLO Industry, with Some Broader Ramifications

The Loan Syndications & Trading Association prevailed in its quest to eliminate credit risk retention requirements for open-market CLO managers, in a ruling that has other important implications… more

Collateralized Loan Obligations, Dodd-Frank, LTSA, Risk Retention, Securities and Exchange Commission (SEC)

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European Court of Justice Facilitates Access to Vehicle Data for Independent Vehicle Repairers

In two recent judgments, the European Court of Justice (ECJ) mandated information access rights by independent vehicle repairers to vehicle data under Regulation (EU) 2018/858. The judgments are likely to facilitate access to… more

Competition, EU, European Court of Justice (ECJ), Motor Vehicles, Transportation Industry

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Tariff-Related Commercial Litigation: What Businesses Need to Know About Force Majeure Clauses & Common Law Defenses

Faced with ongoing tariff uncertainty, companies in the United States and abroad are grappling with the consequences of existing or forthcoming trade duties for their businesses. Exacerbating this uncertainty, companies’… more

Commercial Litigation, Contract Disputes, Contract Terms, Countervailing Duties, Force Majeure Clause

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New UAE Merger Control Thresholds Now Effective

This LawFlash sets out the key features of the new UAE merger control regime, which recently came into effect. In December 2023, the United Arab Emirates introduced a new competition law (Competition Law), implementing a… more

Acquisitions, Competition, Filing Requirements, Merger Controls, Mergers

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GAO Finds Offshore Pipeline Oversight Lacking

On April 19, 2021, eleven years since the Deepwater Horizon explosion, the US Government Accountability Office (GAO) released a report issued to Congress criticizing the Department of Interior’s Bureau of Safety and… more

BSEE, Deepwater Horizon, Failure to Monitor, GAO, Gulf of Mexico

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met… more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

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Staying Within the Legal Lane: Providing Products and Services for COVID-19

Companies marketing products or services for coronavirus (COVID-19) should be aware of key areas of healthcare law and regulation, including Food and Drug Administration regulation, clinical laboratory testing oversight, product… more

Centers for Medicare & Medicaid Services (CMS), Clinical Laboratory Testing, Coronavirus/COVID-19, Department of Health and Human Services (HHS), Food and Drug Administration (FDA)

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Antitrust Considerations Amid the Rapid Expansion of Cricket in the US

Firms across industries face mounting antitrust scrutiny from enforcers, legislators, and the plaintiffs’ bar. Sports teams and leagues are no exception. As the volume of sports commerce expands globally, so too does scrutiny… more

Antitrust Litigation, Antitrust Violations, Broadcasting, Competition, Sherman Act

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US District Court Resumes CTA BOI Reporting Requirements as FinCEN Extends Deadline

A nationwide preliminary injunction put in place on January 7, 2025 by a district court in Texas has been stayed pending appeal, reinstating the reporting requirements of the Corporate Transparency Act (CTA). However, the… more

Anti-Money Laundering, Beneficial Owner, Corporate Transparency Act, FinCEN, New Legislation

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AI in Investment Management: Opportunities, Pitfalls, and Regulatory Developments in Asia

Artificial intelligence has become one of the most transformative forces in modern finance, reshaping how investment firms operate, analyze data, and interact with clients. AI is no longer a futuristic concept but rather a… more

Artificial Intelligence, Asia, Cybersecurity, Financial Services Industry, FinTech

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Corporate Transparency Act Update: Beneficial Ownership Reporting in Tax Equity Transactions

Regulations recently coming into effect under the Corporate Transparency Act (CTA) may impose new beneficial ownership reporting obligations on clean energy tax equity partnerships and joint ventures. The rules now require… more

Beneficial Owner, Corporate Transparency Act, FinCEN, Popular, Reporting Requirements

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English High Court Confirms Enforceability of Termination Sum Provisions in JOLCO Structures

The English High Court has confirmed the enforceability of provisions providing for significant termination payments from a defaulting airline following the termination of an aircraft leasing arrangement using a JOLCO Structure… more

Aviation Industry, Commercial Litigation, Contract Disputes, Financial Contracts, Liquidated Damages

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Bill Ending Forced Arbitration of Sexual Misconduct Expected to Become Law

The Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021 passed by voice vote in the US Senate on February 10. The US House of Representatives approved the same measure with bipartisan support on… more

#MeToo, Arbitration, Arbitration Agreements, Employer Liability Issues, Employment Contract

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OSHA Updates Guidance to Mitigate COVID-19 in the Workplace

The Occupational Safety and Health Administration (OSHA) recently updated its nonbinding COVID-19 guidance applicable to all industries not otherwise covered by its Emergency Temporary Standard (ETS). The primary purpose of the… more

Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, General Duty Clause, Guidance Update, Infectious Diseases

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UK Government Announces Funding for Innovative Companies, New COVID-19 Future Fund

The UK government has announced two new schemes for funding to innovative companies and startups, launching in May 2020… more

Business Formation, Coronavirus/COVID-19, Funding, Small Business, Startups

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Healthcare and Life Sciences: Key Insights and Considerations for Stakeholders in 2025

This report compiles several important developments that shaped the healthcare and life sciences industries in 2024 and spotlights key areas to watch in 2025. Each section addresses either an industry sector within healthcare or… more

Artificial Intelligence, Digital Health, Drug Pricing, Health Technology, Hospitals

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Facilities & Residential Services: Opportunities & Challenges

The facilities and residential services industry continues to evolve, marked by M&A growth, complex workforce structures, and increasing regulatory demands. Our multidisciplinary team is deeply experienced in supporting private… more

Acquisitions, Domain Names, Independent Contractors, Mergers, NLRB

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Data Utilisation in Sports Transactions: Legal and Commercial Considerations

The sports industry is undergoing a transformative shift as data becomes an increasingly important part of commercial strategy. From enhancing player performance to unlocking new revenue streams, data’s role in… more

Data Privacy, Data-Sharing, Popular, Sponsorship Agreements, Sports

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Evolving Transfer Pricing Controversy: Divergent Paths in the United States and Ireland

Transfer pricing enforcement is undergoing significant changes in both the United States and Ireland, with the two jurisdictions actively moving in different directions. While the United States is experiencing internal resource… more

Audits, Enforcement, International Tax Issues, Ireland, IRS

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UK Life Sciences Sector Plan: What In-House Legal and Compliance Teams Need to Know

The UK government recently unveiled its 10-year Life Sciences Sector Plan, putting forward a comprehensive strategy for transforming the UK into a global leader in life sciences by 2035. This LawFlash outlines key areas of… more

Biotechnology, Clinical Trials, Data Privacy, Intellectual Property Protection, Investment

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Public Use and Estoppel Reexamined: Strategic Lessons from Ingenico

This LawFlash details strategic takeaways and practical lessons from the recent US Court of Appeals for the Federal Circuit case on IPR estoppel, evidence of public use, and jury instructions on specific issues… more

Appeals, Estoppel, Federal Rules of Civil Procedure, Inter Partes Review (IPR) Proceeding, Jury Instructions

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China’s First Antitrust Enforcement Case Targeting Individual Liability: Strategic Guidance for Multinational Corporations

The Administration for Market Regulation of Shanghai recently finalized penalties totaling RMB 223 million (approx. $31 million) against three pharmaceutical companies for colluding to fix prices and divide markets for… more

Antitrust Violations, China, Competition, Corporate Counsel, Enforcement Actions

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The Evolving Landscape of Third-Party Releases Post-Purdue

The Delaware Bankruptcy Court on September 25 issued a ruling in Smallhold that a creditor cannot be presumed to consent to a third-party release in a bankruptcy plan without clear, affirmative consent. This decision rules on… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Corporate Counsel

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Ninth Circuit Holds That Social Media Posts Can Give Rise to Securities Act Liability

The US Court of Appeals for the Ninth Circuit recently held that a person who makes social media posts promoting securities—motivated at least in part by their own financial interests or those of the securities’ owner—is… more

Corporate Issuers, Disclosure Requirements, Public Offerings, Securities Act of 1933, Securities and Exchange Commission (SEC)

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US Administration Rolls Out ‘America’s AI Action Plan’

On July 23, 2025, the White House released “Winning the Race: America’s AI Action Plan,” encompassing more than 90 federal policy actions and outlining the administration’s comprehensive and aggressive approach to securing US… more

Artificial Intelligence, Biden Administration, China, Export Controls, Infrastructure

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving… more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

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Strengthening Governance in Family Offices: Investment Committees Can Safeguard Family Legacies

Establishing a formal investment committee is crucial for strategic investment oversight and decision-making in the complex landscape of family office management. Given the unique challenges and opportunities that family offices… more

Due Diligence, Investment, Investors, Reporting Requirements

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ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial… more

Bitcoin, Cryptocurrency, Digital Assets, ETFs, Exchange-Traded Products

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Taxation of Royalties Under New Tax Code of Kazakhstan

This LawFlash summarizes the taxation of royalties in accordance with the new Tax Code of Kazakhstan that will come into effect in January 2026. The definition of “royalty” has been slightly modified in the new Tax Code… more

Exceptions, Kazakhstan, Royalties, Software, Tax Code

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Update: Russia Ends Involvement of Russian National Settlement Depository in Recordkeeping of Type C Account Russian Shares

The president of Russia issued Decree No. 840 on October 2, 2024, prescribing that all Russian custodians transfer shares of Russian joint-stock companies held in Type C custody accounts from the National Settlement Depository… more

Banks, Economic Sanctions, Financial Institutions, Office of Financial Sanctions Implementation (OFSI), Russia

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Year in Review: Select SEC and FINRA Developments and Enforcement Cases

The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases regarding… more

American Depository Receipts (ADRs), BSA/AML, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Financial Transactions

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Government Arguments Potentially Open Constitutional Can of Worms Regarding PTAB Appointments

In response to arguments made by the US government in an appeal pending before the US Supreme Court, members of Congress requested an investigation into the adequacy of due process afforded to Patent Trial and Appeal Board… more

Administrative Patent Judges, Appointments Clause, Arthrex Inc v Smith & Nephew Inc, Constitutional Challenges, Director of the USPTO

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DAG Rosenstein Reinforces Value of Effective and Tailored Compliance Programs

Deputy Attorney General Rod Rosenstein delivered remarks on May 21 at the Mayflower Hotel in Washington, DC, as part of Compliance Week’s 2018 Annual Conference for Risk Professionals. In candid remarks, Mr. Rosenstein… more

Attorney General, Compliance, Department of Justice (DOJ)

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New Texas Legislation on Color Additives – Takeaways for Industry

As we have previously discussed, state and federal government authorities are turning their attention toward artificial coloring in foods. Most recently, Texas Governor Greg Abbott signed into law SB 25 targeting the sale of… more

Consumer Protection Laws, Enforcement Actions, False Advertising, Food Labeling, Food Manufacturers

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EPA Proposes Landmark Stormwater Regulation in Massachusetts

The US Environmental Protection Agency (EPA) has proposed a new draft general stormwater permit that, once finalized, will impose potentially onerous new requirements on more than 4,000 properties in the Charles, Neponset, and… more

Discharge of Pollutants, Environmental Policies, Environmental Protection Agency (EPA), NPDES, Permits

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Executive Orders Target DEI Programs and Gender Protections

On the first day of his presidency, January 20, 2025, President Donald Trump issued two executive orders targeting diversity, equity, and inclusion (DEI) programs in the federal government and stating that the US government will… more

Civil Rights Act, Diversity and Inclusion Standards (D&I), Employment Discrimination, Equal Employment Opportunity Commission (EEOC), Executive Orders

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Final 417(e) Regulations Add New Requirements and Offer Design Flexibility

The US Internal Revenue Service (IRS) recently issued final regulations concerning “minimum present value requirements” for tax-qualified defined benefit plans (DB plans). There are three primary changes for sponsors of DB plans… more

Defined Benefit Plans, Employee Benefits, Employee Contributions, IRS, Retirement Plan

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Employers Can Aid Wildfire Victims with Out-of-Pocket Expenses, Paid Leave, and Through Tax-Exempt Organizations

Many individuals are in desperate need of funds due to injuries, damage, and other unexpected expenses caused by the ongoing wildfires in Los Angeles. Employers can aid wildfire victims with tax-free payments, paid leave, and… more

Corporate Counsel, Disaster Aid, Employee Benefits, Employees, Employment Policies

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PTAB Issues Decision Awarding Priority of Invention of CRISPR Gene Editing Patents to Broad Institute

The Patent Trial and Appeal Board issued a decision on February 28 awarding priority of invention of foundational CRISPR gene editing patents to the Broad Institute, Massachusetts Institute of Technology, and Harvard… more

CRISPR, Interference Claims, Life Sciences, Patent Applications, Patent Litigation

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EU/US Trade: Takeaways for Companies Amid Turbulent Tariff Policy

On July 11, 2025, the US administration threatened increased duties of 30% on products from the European Union and Mexico, two of the United States’ biggest trading partners—EU and Mexican exports combined accounted for around… more

EU, Imports, Risk Management, Supply Chain, Tariffs

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Update: Business Insurance Considerations Amid Conflict in Ukraine

The conflict in Ukraine and actions taken by and against Russia continue to wreak havoc on global business operations, causing supply chain disruptions, interruptions in operations, and the loss of assets located abroad. With… more

Aircraft, Business Interruption, Commercial Insurance Policies, Insurance Industry, Political Risk Insurance

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16 States Challenge Gender-Affirming Care EO as DOJ Scrutinizes Hospitals, Doctors, and Pharma Manufacturers

On August 1, 2025, 16 state attorneys general filed a complaint in federal court in Massachusetts against the US administration seeking a declaratory judgment that President Trump’s January 28, 2025 Executive Order 14187,… more

Constitutional Challenges, Department of Health and Human Services (HHS), Department of Justice (DOJ), Executive Orders, False Claims Act (FCA)

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Russia Limits Enforcement of International Arbitration Awards Rendered by ‘Unfriendly’ Arbitrators

The Supreme Court of the Russian Federation on 26 July 2024 issued a ruling (the 26 July Ruling) which effectively restricts enforcement of international arbitration awards against Russian parties rendered by arbitrators from… more

Arbitration, Arbitration Agreements, Arbitration Awards, International Arbitration

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Failure to Connect: Grid Challenges Persist as Demand Rises

An imbalance has emerged between the amount of energy needed to meet demands in the United States and the ability to quickly bring energy projects online to supply that need. As generative AI continues to advance and become… more

Energy Policy, Energy Projects, Energy Sector, Regulatory Reform, Renewable Energy

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UK Life Sciences Sector Plan: What In-House Legal and Compliance Teams Need to Know

The UK government recently unveiled its 10-year Life Sciences Sector Plan, putting forward a comprehensive strategy for transforming the UK into a global leader in life sciences by 2035. This LawFlash outlines key areas of… more

Biotechnology, Clinical Trials, Data Privacy, Intellectual Property Protection, Investment

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What’s Next in Tech: Must-Watch Innovations for 2025

As we look ahead to 2025, it's clear that the next few years will bring about groundbreaking shifts across industries, with technologies such as AI, quantum computing, data centers, robotics, and autonomous vehicles leading the… more

Artificial Intelligence, Cybersecurity, Innovation, Machine Learning, Robotics

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Key Takeaways: CFIUS and Other Foreign Investor Considerations for Venture Capital

For venture capital investors, proactive diligence, thoughtful deal structuring, and attention to key shifts in investment regulation are essential, particularly when participating in cross-border transactions or investing in… more

CFIUS, Foreign Investment, National Security, Regulatory Requirements, Venture Capital

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GENIUS Act Passes in US Congress: A Breakdown of the Landmark Stablecoin Law

The US House of Representatives passed the Guiding and Establishing National Innovation for US Stablecoins Act, or the “GENIUS Act,” on July 17, 2025, sending the landmark legislation to President Donald Trump for his signature… more

Anti-Money Laundering, Blockchain, Cryptocurrency, Digital Assets, Financial Regulatory Reform

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Bipartisan Focus on Drug Prices Continues with Proposed Expansion of Federal Authority Over Patent Rights

Pharmaceutical drug pricing and reimbursement remains a bipartisan focus as we draw closer to the November presidential elections, with politicians remaining steadfast in their efforts to turn up the heat on pharmaceutical… more

Drug Pricing, Intellectual Property Protection, NIST, Patents, Pharmaceutical Industry

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TAKE IT DOWN Act Targets Deepfakes: Are Online Platforms Caught in the Crosshairs?

The TAKE IT DOWN Act, recently signed into federal law, criminalizes the distribution of nonconsensual intimate imagery and requires covered online platforms to implement a notice-and-removal process by May 19, 2026… more

Communications Decency Act, Consent, Corporate Counsel, Criminal Prosecution, Deep Fake

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SEC Proposes Mandatory Swing Pricing for Mutual Funds and Revised Liquidity Requirements

On November 2, 2022, the US Securities and Exchange Commission (SEC), by a 3-2 party line vote, proposed amendments (the Proposal) to the liquidity risk management programs rule (Rule 22e-4) under the Investment Company Act of… more

Investment Company Act of 1940, Investment Management, Liquidity, Liquidity Risk Management Rule, Mutual Funds

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Treasury Issues Final Regulations on FIRPTA Exemption for Qualified Foreign Pension Funds

The US Department of Treasury recently released final regulations providing guidance on the exception from taxation under the Foreign Investment in Real Property Tax Act of 1980 for “qualified foreign pension funds” under… more

Anti-Abuse Rule, FIRPTA, Internal Revenue Code (IRC), Investment Management, Pension Funds

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France Moves to Reform Gender Equality Index by 2027: What Companies Need to Know

The French government has confirmed a complete overhaul of the Gender Equality Index to comply with European Directive 2023/970 on pay transparency, which will be implemented in full by 2027. The introduction of seven new… more

EU Directive, France, Gender Discrimination, Gender Equity, Labor Reform

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Update: ‘Control’ for UK Sanctions Addressed in Hellard Case

Asset freeze measures enacted by the United Kingdom against designated persons (DPs) can, under certain circumstances, extend to entities “owned or controlled” by DPs. To date, there have been few—and at times partly… more

Asset Freeze, Economic Sanctions, Trustees, UK

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Federal Circuit Clarifies Proper Double-Patenting Reference

In Allergan USA v. MSN Labs, the US Court of Appeals for the Federal Circuit held, that later-filed, later-issued claims cannot serve as proper reference for invalidating earlier-filed, earlier-issued claims having the same… more

Double Patent, Intellectual Property Protection, Obviousness, Patent Expiration, Patent Litigation

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European Commission Publishes Proposed Amendments to the EU Securitisation Regulation

The European Commission published its proposals for amendments to the EU Securitisation Regulation on 17 June 2025. These proposals are of significant importance for securitisation market participants… more

Capital Requirements, Disclosure Requirements, EU, European Commission, Financial Markets

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SEC Disclosure and Taxation of Executive Security Benefits: Legal Requirements and Key Considerations

Many companies are reevaluating their corporate security practices and considering enhancements to the security protections they provide to their executives and other senior leaders. Companies exploring such security practices… more

Disclosure Requirements, Employee Benefits, Income Taxes, Internal Revenue Code (IRC), Reporting Requirements

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Energy Storage Legislation Updates in the European Union and United Kingdom

Discover the evolving policies and regulations of the European Union and United Kingdom, with both issuing landmark legislation in the energy storage. EUROPEAN UNION DEVELOPMENTS EU energy storage initiatives are a key part of… more

Clean Energy, Climate Change, Energy Policy, Energy Storage, EU

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COVID-19: Court Denies Motion for Class Certification in Ticket Refund Case

A federal district court in Florida denied a plaintiff’s motion for class certification in a putative class action asserting claims on behalf of ticket purchasers against Viagogo, a secondary ticket marketplace platform, for… more

Ascertainable Class, Breach of Contract, Breach of Implied Contract, Class Action, Class Certification

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Delaware Supreme Court Raises the Bar on Plaintiffs’ Firms Extracting Fees for Challenges to Advance Notice Bylaws

The Delaware Supreme Court on July 11 partially reversed the Delaware Court of Chancery decision in Kellner v. AIM ImmunoTech, which had held that certain advance notice bylaw provisions were “facially invalid,” holding instead… more

Board of Directors, Bylaws, Corporate Governance, Shareholders

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New NLRB Acting General Counsel’s Actions and Increased White House Oversight Signal Shift in Enforcement

National Labor Relations Board Acting General Counsel William B. Cowen on February 14, 2025 changed the course of the agency’s strategic goals by rescinding more than a dozen memos penned by former General Counsel Jennifer… more

Enforcement Actions, Executive Orders, Labor Reform, Labor Relations, NLRA

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EEOC and DOJ Issue Guidance on Discrimination Related to DEI under Title VII

The US Equal Employment Opportunity Commission (EEOC) and US Department of Justice (DOJ) issued two guidance documents on March 19, 2025 detailing their views on discrimination related to diversity, equity, and inclusion (DEI)… more

Anti-Discrimination Policies, Civil Rights Act, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), Employment Discrimination

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EU AI Office Publishes Third Draft of EU AI Act-Related General-Purpose AI Code of Practice: Key Copyright Issues

This LawFlash summarizes key EU copyright aspects of the European AI Office’s third draft of its General-Purpose AI Code of Practice developed in connection with the EU AI Act. The Code of Practice sets out “commitments” and… more

AI Act, Algorithms, Copyright, Copyright Infringement, Corporate Counsel

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US Reliability Executive Order Directs Broad Use of DOE Emergency Powers

President Donald Trump recently issued an executive order titled Strengthening the Reliability and Security of the United States Electric Grid, which aims to bolster electric grid reliability and address the national energy… more

Clean Energy, Department of Energy (DOE), Electricity, Energy Policy, Energy Sector

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Volcker Rule Amendments: An Early Assessment of Interpretive Issues, Business Impact, and Market Opportunities

Recently published amendments to the Volcker Rule — effective October 1, 2020—could have significant market impact for affected stakeholders, and will liberalize certain key aspects of the Volcker Rule’s regulations and quell or… more

Asset Management, Covered Funds, Credit Funds, Dodd-Frank, Exclusions

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Strengthening Control over the Purchase of Noncash Foreign Currency in Kazakhstan

Amendments to the Rules for Conducting Currency Transactions in the Republic of Kazakhstan (the Amendments) came into effect on January 1, 2025. From now on, banks will control the acquisition of foreign currency by reference to… more

Anti-Money Laundering, Banking Sector, Exchange Rates, Financial Services Industry, Foreign Currency

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New FASB Standards Mandate Disclosure of Reverse Factoring Programs

Due to new standards issued by the Financial Accounting Standards Board (FASB) in late 2022, companies with supply chain financing are now required to comply with additional disclosures intended to monitor and understand the… more

Accounting Standards, FASB, Financial Accounting, Financial Reporting, Financial Statements

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Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

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

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One Big Beautiful Bill Act Tax Proposals: Select Highlights and Implications

The US House of Representatives on May 22, 2025 passed the One Big Beautiful Bill Act (the Act), which includes a tax package that would extend certain provisions of the 2017 Tax Cuts and Jobs Act set to expire at the end of… more

Clean Energy, Energy Policy, Energy Sector, Inflation Reduction Act (IRA), Investment Funds

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US Department of Education Issues Sweeping Guidance on Race-Conscious Practices By Academic Institutions

The US Department of Education’s (the Department’s) Office for Civil Rights issued a sweeping “Dear Colleague” letter on February 14, 2025 outlining a new zero-tolerance policy for the consideration of race in any regard by… more

Affirmative Action, Civil Rights Act, Colleges, Department of Education, Educational Institutions

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‘Settled Expectations,’ PTAB’s New Discretionary Denial Factor, Gains Additional Footing in Dabico

Acting Director of the USPTO Coke Morgan Stewart recently discretionarily denied institution of an inter partes review (IPR) based on a new consideration, “settled expectations,” that is, the length of time that the challenged… more

Appeals, Due Process, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Invalidity

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IP, Licensing, and M&A in the Life Sciences Industry: Trends to Watch in 2025

The life sciences industry has long been at the forefront of innovation, and 2025 promises to continue this trajectory with exciting developments in intellectual property (IP), licensing, and mergers and acquisitions (M&A). As… more

Acquisitions, Artificial Intelligence, Biologics, Biosimilars, Data Protection

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FTC Sues Private Equity Firm Over Alleged Anticompetitive Scheme Involving Roll-up Acquisitions

The US Federal Trade Commission is suing US Anesthesia Partners Inc. and its private equity founder for allegedly enacting an anticompetitive scheme to gain market power through a series of roll-up acquisitions… more

Anti-Competitive, Antitrust Provisions, Competition, Federal Trade Commission (FTC), Private Equity Firms

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New OFCCP Rule Changes Investigative Process—to the Detriment of Contractors

The US Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) recently issued a new final rule that will change how the agency investigates and enforces allegations of discrimination against federal… more

Federal Contractors, Investigations, Notice of Violation, OFCCP

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US Supreme Court: FTC Cannot Seek Equitable Monetary Relief in Section 13(b) Cases

In a unanimous 9-0 decision authored by Justice Breyer, the US Supreme Court has held that the Federal Trade Commission (FTC) lacks the authority to seek equitable monetary relief in cases brought in federal court under FTC Act… more

AMG Capital Management LLC v FTC, Enforcement Authority, Federal Trade Commission (FTC), FTC Act, FTCA Section 13(b)

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WIN Initiative for the Promotion of Startups, Innovation, and Venture Capital

Based on the German federal government's current startup strategy and its specific measures and funding programs (see Legal Insights dated March 14, 2024 for details), the federal government and KfW, together with relevant… more

Corporate Financing, Investors, Startups, Venture Capital

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Attorney General’s Guidance on Unlawful Discrimination: Implications for Federal Funding Recipients and FCA Whistleblower Accountability

The Office of the Attorney General in the US Department of Justice (DOJ) issued a Memorandum on July 29, 2025, titled “Guidance for Recipients of Federal Funding Regarding Unlawful Discrimination” (the Guidance). The Guidance… more

Anti-Discrimination Policies, Anti-Retaliation Provisions, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), False Claims Act (FCA)

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New NLRB Acting General Counsel’s Actions and Increased White House Oversight Signal Shift in Enforcement

National Labor Relations Board Acting General Counsel William B. Cowen on February 14, 2025 changed the course of the agency’s strategic goals by rescinding more than a dozen memos penned by former General Counsel Jennifer… more

Enforcement Actions, Executive Orders, Labor Reform, Labor Relations, NLRA

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SEC Staff Issues Updated Marketing Rule FAQs

SEC Staff published new guidance providing private fund managers and other investment advisers with flexibility to use extracted performance and portfolio/investment characteristics in marketing materials, without cumbersome… more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investment Funds, Investment Management

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Early Results of USPTO’s New Climate Change Mitigation Pilot Program

The United States Patent and Trademark Office launched the Climate Change Mitigation Pilot Program last year to incentivize the filing of patent applications that cover technologies directed to climate change mitigation. With… more

Intellectual Property Protection, Patent Litigation, Patent Trial and Appeal Board, Patents, USPTO

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Building Energy Contracts: Go Beyond Boilerplate

The complex, heavily regulated, and often-volatile environment within which energy companies must operate can magnify the importance of contractual arrangements, and the severity of repercussions when those arrangements do not… more

Contract Disputes, Contract Terms, Energy Contracts, Energy Sector, Indemnification Clauses

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DOJ and HHS Announce Joint False Claims Act Working Group

The US Departments of Justice and Health and Human Services recently issued a press release on the formation of a new False Claims Act Working Group, signaling to the healthcare industry an increased focus on anti-fraud… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Department of Justice (DOJ), Enforcement Actions, Enforcement Priorities

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New Executive Order Aims to Reshape Athlete Pay, Fair Access & College Sports Revenue Models

President Donald Trump on July 24, 2025 issued an executive order titled “Saving College Sports.” This order, which follows recent significant changes to compensation rules and limitations in the collegiate sports landscape,… more

Compensation, Executive Orders, NCAA, Sports, Student Athletes

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Russia Considers Limiting Repurchase Rights of Foreign Investors Who Exited After February 2022

The Russia-Ukraine ceasefire and peace negotiations remain uncertain, the European Union and United Kingdom are considering more sanctions against Russia, and the US administration’s next steps are unclear. Anticipating restored… more

Acquisitions, Contract Terms, Economic Sanctions, Foreign Investment, International Arbitration

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CPPA Board Finalizes New Rules on ADMT, Cybersecurity Audits, and Risk Assessments

The California Privacy Protection Agency (CPPA) board unanimously voted on July 24, 2025 to finalize a package of regulations related to automated decision-making technology (ADMT), cybersecurity audits, and risk assessments… more

Audits, Automated Decision Systems (ADS), California Consumer Privacy Act (CCPA), California Privacy Protection Agency (CPPA), Consumer Privacy Rights

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ESG Investing: A Global Regulatory Review and Outlook

As environmental, social, and governance (ESG) considerations become increasingly central to investment strategies worldwide, the regulatory landscapes governing ESG investing are evolving rapidly across different regions… more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Popular, Renewable Energy

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2017 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

Recent patent reform legislation, rule changes, and court rulings are expected to have a significant impact on the strategies of both patent owners and petitioners… more

America Invents Act, Claim Construction, Discovery, Estoppel, Inter Partes Review (IPR) Proceeding

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Delaware Supreme Court Raises the Bar on Plaintiffs’ Firms Extracting Fees for Challenges to Advance Notice Bylaws

The Delaware Supreme Court on July 11 partially reversed the Delaware Court of Chancery decision in Kellner v. AIM ImmunoTech, which had held that certain advance notice bylaw provisions were “facially invalid,” holding instead… more

Board of Directors, Bylaws, Corporate Governance, Shareholders

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EU AI Office Publishes Third Draft of EU AI Act-Related General-Purpose AI Code of Practice: Key Copyright Issues

This LawFlash summarizes key EU copyright aspects of the European AI Office’s third draft of its General-Purpose AI Code of Practice developed in connection with the EU AI Act. The Code of Practice sets out “commitments” and… more

AI Act, Algorithms, Copyright, Copyright Infringement, Corporate Counsel

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HHS Proposes Major 2025 Update to HIPAA Security Rule

For the first time in 11 years, the US Department of Health and Human Services (HHS) has proposed updating the Security Rule under the Health Insurance Portability and Accountability Act of 1996 (HIPAA). The Proposed Rule, to be… more

Business Associates, Covered Entities, Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

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One Year Out from World Cup 2026: Key Considerations

As organizations prepare for the 2026 Men’s World Cup, co-hosted across 16 North American cities, it is vital for such entities to begin weighing several key considerations to ensure a successful and compliant event. This… more

Anti-Corruption, Contract Terms, Employment Contract, Foreign Workers, Immigration Procedures

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AI and Algorithmic Pricing: 2025 Antitrust Outlook and Compliance Considerations

While algorithmic pricing has been used in many industries for decades, the rapid development of artificial intelligence (AI) technology has led antitrust enforcers—including federal agencies and state attorneys… more

Algorithms, Antitrust Litigation, Antitrust Provisions, Artificial Intelligence, Competition

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Navigating PPP Loans In M&A Transactions (UPDATED)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government… more

CARES Act, Coronavirus/COVID-19, Eligibility, Federal Loans, Financial Stimulus

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UK Civil Engineering Market Under CMA Scrutiny as Regulator Turns Up Heat on Construction Sector

The UK’s Competition and Markets Authority (CMA) on 19 June 2025 launched a market study into the supply of public roads and railways across the United Kingdom. This market study, together with recent investigations into the… more

Anti-Competitive, Competition Authorities, Construction Contracts, Construction Industry, Infrastructure

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UK Sovereign Immunity from Direct Taxation

Sovereign immunity is a principle of public international law whereby one sovereign state should not seek to apply its law to another sovereign state. Alongside the jurisdictional immunity foreign sovereigns enjoy in the United… more

Capital Gains Tax, Corporate Taxes, Foreign Sovereigns, Income Taxes, Sovereign Immunity

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Singapore High Court Allows Creditor’s Challenge Against Liquidator's Admission of Another Creditor's Proof of Debt

In the recent case of Park Hotel Group Management Pte Ltd v Aw Eng Hai (in his capacity as a joint and several liquidator of Park Hotel CQ Pte Ltd (in liquidation) and others [2025] SGHC 97, the General Division of the High… more

Business Litigation, Commercial Leases, Commercial Litigation, Contract Disputes, Creditors

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16 States Challenge Gender-Affirming Care EO as DOJ Scrutinizes Hospitals, Doctors, and Pharma Manufacturers

On August 1, 2025, 16 state attorneys general filed a complaint in federal court in Massachusetts against the US administration seeking a declaratory judgment that President Trump’s January 28, 2025 Executive Order 14187,… more

Constitutional Challenges, Department of Health and Human Services (HHS), Department of Justice (DOJ), Executive Orders, False Claims Act (FCA)

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Pharma Review - Issue 3

Welcome to the third issue of the Morgan Lewis Pharma Review, which summarizes key recent cases from the Federal Circuit and district courts that impact the pharma space, including Federal Circuit and district court decisions in… more

Abbreviated New Drug Application (ANDA), Antitrust Division, Claim Construction, Hatch-Waxman, Inter Partes Review (IPR) Proceeding

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Seattle Becomes First US Jurisdiction to Add Caste as a Protected Class

The city council of Seattle recently added caste as a protected class to the city’s anti-discrimination laws. In doing so, Seattle becomes the first US jurisdiction to ban caste discrimination and the first in the world to pass… more

Anti-Discrimination Policies, Employees, Employer Liability Issues, Equal Protection, Labor Reform

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Data Utilisation in Sports Transactions: Legal and Commercial Considerations

The sports industry is undergoing a transformative shift as data becomes an increasingly important part of commercial strategy. From enhancing player performance to unlocking new revenue streams, data’s role in… more

Data Privacy, Data-Sharing, Popular, Sponsorship Agreements, Sports

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NLRB Adopts Final Regulations to Restrict Employee Choice on Union Representation

The National Labor Relations Board (NLRB or Board) on August 1 published a new rule addressing three distinct situations affecting employees’ rights to decide whether they want union representation (New Rule). The New Rule… more

Construction Industry, Employer Liability Issues, NLRB, Unfair Labor Practices, Union Representatives

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Financial Institutions Face Investigations and Possible Referral to DOJ Based on Past ‘Debanking’ Practices

An executive order signed by the US president on August 7, 2025, titled Guaranteeing Fair Banking for All Americans, seeks to prohibit financial institutions from engaging in “debanking” practices, such as denying services or… more

Banking Sector, BSA/AML, Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ), ECOA

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Legal Considerations for WHO’s ‘Possibly Carcinogenic’ Aspartame Classification

On July 14, 2023, the World Health Organization (WHO) published a summary of two findings regarding aspartame, an artificial sweetener found in many consumer products. One finding categorized aspartame as “possibly… more

Cancer, Commercial Insurance Policies, Duty to Defend, Food and Drug Administration (FDA), Food Labeling

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Securities Enforcement Roundup – May 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from May 2025. In May 2025: More ongoing developments in the crypto enforcement area at the US… more

Cryptocurrency, Digital Assets, Enforcement Actions, Financial Industry Regulatory Authority (FINRA), Investors

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Washington Supreme Court Clarifies Limits on Employers’ Anti-Moonlighting Agreements

The Supreme Court for the State of Washington issued a decision in David v. Freedom Vans LLC expanding the state’s prohibition against anti-moonlighting covenants for low-wage workers. The court held that employers may not… more

Class Action, Employee Rights, Employees, Employment Contract, Employment Litigation

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Private Credit Markets Continue to Expand in Asia

Private credit, or funding provided by non-bank lenders, has expanded significantly, becoming a $1.7 trillion global industry. Many market participants anticipate continued growth, with conservative estimates projecting an… more

Asset Management, Capital Markets, Financial Institutions, Financial Services Industry, Investment

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UK Life Sciences Sector Plan: What In-House Legal and Compliance Teams Need to Know

The UK government recently unveiled its 10-year Life Sciences Sector Plan, putting forward a comprehensive strategy for transforming the UK into a global leader in life sciences by 2035. This LawFlash outlines key areas of… more

Biotechnology, Clinical Trials, Data Privacy, Intellectual Property Protection, Investment

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UK Takeover Panel Makes Extensive Compensation and ‘Cold Shoulder’ Orders for UK Takeover Code Breaches

The UK Takeover Panel (Panel) has made its first-ever compensation order under the statutory powers granted to it under the Companies Act 2006 (CA 2006). It has also issued “cold shoulder” orders against 10 individuals, the most… more

Companies Act, Corporate Governance, Directors, UK

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Securities Enforcement Roundup – February 2025

In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from February 2025. In February 2025: The US Securities and Exchange Commission (SEC) announced a new… more

Climate Change, Cryptocurrency, Cybersecurity, Digital Assets, Disclosure Requirements

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Third Circuit Affirms Priority of NRC Public Health and Safety Requirements

Court rules that the ADA does not create a loophole to NRC fitness-for-duty and security regulations. On August 15, for the first time, a US court of appeals ruled that the US Nuclear Regulatory Commission’s (NRC’s)… more

Americans with Disabilities Act (ADA), Fitness for Duty Exams, Public Health

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US EPA Announces Ambitious PFAS Agenda

On April 28, 2025, US Environmental Protection Agency (EPA) Administrator Lee Zeldin announced ambitious plans to advance regulation of perfluoroalkyl and polyfluoroalkyl substances (PFAS). The plans include the near-term… more

Biden Administration, Clean Water Act, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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UK Government Updates Tax Regime for Carried Interest

As part of the Autumn Statement, the UK government on 30 October 2024 announced a reform of its taxation of carried interest. This follows a call for evidence on the reform of the UK taxation treatment of carried interest in… more

Capital Gains, Capital Gains Tax, Carried Interest, Income Taxes, Tax Planning

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Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

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

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Accelerating Innovation: France Implements Several Measures to Facilitate Recruitment of Foreign Employees

France is taking action to become a leader in research and development, notably by relaxing entry and residence requirements for highly skilled workers and rolling out its France 2030 investment plan, which aims to support… more

EU, Foreign Nationals, Foreign Workers, France, Highly-Skilled Workers Visa

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Real Estate Report

The Real Estate Report, produced by our Real Estate lawyers, covers important commercial real estate trends and developments… more

Buyers, CFIUS, Commercial Leases, Commercial Real Estate Contracts, Commercial Real Estate Market

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ADGM Issues Real Estate Consultation Paper: Changes to Real Estate Regulations

The Abu Dhabi Global Market (ADGM) recently issued a consultation paper seeking opinions on how to revamp its real estate legal framework in light of the expansion of the ADGM territory to include Al Maryah Island and Al Reem… more

Abu Dhabi Global Markets (ADGM), Escrow Accounts, Financial Services Industry, United Arab Emirates (UAE)

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PLF 2025 Adopted in France

The PLF 2025, definitively adopted by the Senate on 6 February 2025 following a months-long process, is currently being examined by the French Constitutional Council… more

Anti-Avoidance, Capital Gains, Corporate Taxes, Dividends, Employee Benefits

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IRS Issues Proposed Regulations on SECURE 2.0 Catch-Up Contribution Changes – Publications

The Internal Revenue Service (IRS) issued proposed regulations providing guidance on how to interpret and implement changes to "catch-up" contributions made by the SECURE 2.0 Act of 2022 (SECURE 2.0). The regulations mainly… more

401k, 403(b) Plans, 457(b) Plans, Employee Benefits, Internal Revenue Code (IRC)

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The Rise of the Global Capability Center: Key Considerations

Interest in offshore business centers, commonly known as global capability centers (GCCs), continues to rise as US companies across industries look to establish overseas offices and hire skilled workers to support critical… more

Business Entities, Contract Terms, Employment Contract, Foreign Investment, India

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'One Big Beautiful Bill Act' Tax Provisions: A First-Take Comparison of the House and the Final Senate Versions

The tax proposal originally offered by the US House of Representatives and the final version of the comprehensive budget reconciliation bill, the One Big Beautiful Bill Act, as developed in the Senate, contain some key… more

Budget Reconciliation, Clean Energy, Investment Tax Credits, New Legislation, Production Tax Credit

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National Aviation Authorities Network Unveils Roadmap for AAM Aircraft Type Certification

US Transportation Secretary Sean Duffy recently announced a first-of-its-kind collaboration between the US Federal Aviation Administration (FAA), aviation authorities of Australia (Civil Aviation Safety Authority), Canada… more

Aircraft, Aviation Industry, Bilateral Agreements, Canada, Government Agencies

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SEC Staff Issues Names Rule FAQs

The Staff of the US Securities and Exchange Commission has issued FAQs regarding recent amendments to Rule 35d-1 (often referred to as the Names Rule) under the Investment Company Act of 1940. The amendments to the Names Rule,… more

Amended Rules, Disclosure Requirements, Investment, Investment Adviser, Investment Company Act of 1940

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Approving QDROs During Court and Government Office Closures

Due to widespread court closures as a result of the coronavirus (COVID-19) pandemic, it may be difficult for participants or their attorneys to obtain a certified copy of a domestic relations order that many retirement plans… more

Beneficiary Designations, Coronavirus/COVID-19, Employee Benefits, QDRO, Retirement Plan

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Japan Continues to Relax Registration Requirements – Simplified Type 1 FIBO Registration

Japanese regulators have been significantly amending the Financial Instruments and Exchange Act (FIEA), similar to other jurisdictions seeking to innovate and relax regulatory requirements in order to help spur economic activity… more

Asset Management, Capital Markets, Financial Institutions, Fund Managers, Investment Funds

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New Law Changes Massachusetts Estate Tax Exemption Amount

Massachusetts Governor Maura Healey signed a bill on October 4, 2023 amending the state’s estate tax law. INCREASED MASSACHUSETTS ESTATE TAX EXEMPTION AMOUNT For individuals dying on or after January 1, 2023, the new law… more

Estate Planning, Estate Tax, Estate-Tax Exemption, Tax Exemptions, Tax Planning

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NY Federal Court Decision Highlights Importance of Careful Drafting of Arbitration Program

The US District Court for the Southern District of New York (SDNY) ruled that an employer’s mandatory arbitration program was unenforceable because its terms were contained in an employee handbook and did not create a binding… more

Arbitration, Arbitration Agreements, Corporate Counsel, Employee Handbooks, Employer Liability Issues

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Renewables Under the New Administration: Navigating an Uncertain Roadmap

Recent policy shifts at the federal level have introduced significant variability to the US renewable energy sector. While demand for clean energy continues to grow, executive orders, regulatory changes, and evolving legislative… more

Clean Energy, Electric Vehicles, Energy Policy, Energy Projects, Executive Orders

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Amendments to DGCL Proposed After Chancery Decisions on M&A Practice and Stockholder Agreements on Corporate Governance Rights

The Council of the Corporation Law Section of the Delaware State Bar Association has proposed amendments to the Delaware General Corporation Law that, if enacted by the General Assembly, will address issues raised in three… more

Board of Directors, Delaware General Corporation Law, Fiduciary Duty, Mergers, Shareholders

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Legal Issues Facing Owners and Operators of Data Centers in Japan

As experienced investors in Japanese real estate know, the Tokutei Mokuteki Kaisha (TMK) is the Japanese entity used by most investors to acquire and hold large real estate assets due to its favorable tax treatment. It is also… more

Business Entities, Data Centers, Foreign Investment, Investment, Investors

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EPA Announces Ban on Chrysotile Asbestos

The White House and US Environmental Protection Agency (EPA) jointly announced on March 18 a final rule to prohibit ongoing uses of chrysotile asbestos, the only known form of asbestos currently used in or imported to the United… more

Asbestos, Chemicals, Environmental Protection Agency (EPA), Toxic Chemicals, Toxic Substances Control Act (TSCA)

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2024 Amendments to India's Patent Rules: Unlocking Cross-Border IP Opportunities

In March 2024, the Indian Ministry of Commerce and Industry published changes to its 2003 Patent Rules. These applicant-friendly changes include (1) a relaxation in the rules relating to the submission of information regarding… more

Artificial Intelligence, European Patent Office, Intellectual Property Protection, Patent Applications, Patent Infringement

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DHS Announces New Form I-9 and Document Verification Guidelines

The US Department of Homeland Security (DHS) announced on July 21, 2023 the modernization of the I-9 process following the COVID-19 pandemic, including through new guidelines expanding the use of E-Verify, the DHS’s employment… more

Department of Homeland Security (DHS), E-Verify, Employer Liability Issues, Employment Eligibility Verification, Foreign Workers

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Supreme Court to Review Third Circuit’s ‘Disruptive’ NGA Decision on Pipeline’s Power to Acquire Right-of-Way over State Lands

The US Supreme Court granted certification on February 3 to review the US Court of Appeals for the Third Circuit’s decision in In re PennEast Pipeline Co. in order to resolve an important question: Does the Natural Gas Act (NGA)… more

Certificate of Public Convenience and Necessity, Certiorari, Condemnation, Critical Infrastructure Sectors, Eleventh Amendment

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Tariff-Related Commercial Litigation: What Businesses Need to Know About Force Majeure Clauses & Common Law Defenses

Faced with ongoing tariff uncertainty, companies in the United States and abroad are grappling with the consequences of existing or forthcoming trade duties for their businesses. Exacerbating this uncertainty, companies’… more

Commercial Litigation, Contract Disputes, Contract Terms, Countervailing Duties, Force Majeure Clause

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Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair… more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

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European Commission Publishes Proposed Amendments to the EU Securitisation Regulation

The European Commission published its proposals for amendments to the EU Securitisation Regulation on 17 June 2025. These proposals are of significant importance for securitisation market participants… more

Capital Requirements, Disclosure Requirements, EU, European Commission, Financial Markets

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PA Public Utility Commission’s Fully Projected Future Test Year Filing Requirements Advance at IRRC

On May 15, 2025, Pennsylvania’s Independent Regulatory Review Commission (IRRC) approved final-form regulations proposed by the Pennsylvania Public Utility Commission (PUC or Commission) regarding the use of a fully projected… more

Compliance Dates, Filing Requirements, Government Agencies, New Regulations, Pennsylvania

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Crypto Donations: The State of Play, Opportunities, Regulations, and Tax Treatment in the EU and France

More than 1,300 global nonprofit organizations are now embracing cryptocurrency donations, demonstrating how easy it is for charities to take advantage of new payment methods to collect funds. As of early 2025, 10% of French… more

Anti-Money Laundering, Cryptocurrency, Donations, EU, France

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IP and Commercial Contract Litigation Developments and Trends: What Transactional Lawyers Should Know

As part of our Spotlight series, we invited litigation partners Dana E. Becker (Philadelphia), Shon Lo (Chicago), and Krista Vink Venegas, Ph.D. (Chicago), to talk about recent trends and issues in IP-related and other… more

Commercial Contracts, Contract Drafting, Contract Terms, IP License, Non-Disclosure Agreement

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The Trends—and Traps—that Will Shape 2024

At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months, the… more

Artificial Intelligence, Banking Sector, Banks, Central Bank Digital Currency (CBDCs), Cryptocurrency

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California Further Bolsters its Prohibitions on Noncompete Agreements

On the heels of the enactment of Senate Bill 699, which fortified California’s restrictions on noncompete agreements and other restrictive covenants and provided additional employee protections, California has once more… more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Non-Solicitation Agreements, Restrictive Covenants

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Financial Institutions Face Investigations and Possible Referral to DOJ Based on Past ‘Debanking’ Practices

An executive order signed by the US president on August 7, 2025, titled Guaranteeing Fair Banking for All Americans, seeks to prohibit financial institutions from engaging in “debanking” practices, such as denying services or… more

Banking Sector, BSA/AML, Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ), ECOA

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IRS Holds Two-Day Hearing on Proposed Donor-Advised Fund Regulations

The Internal Revenue Service (IRS) held a hearing on May 6–7, 2024 on the proposed regulations for donor-advised funds (REG-142338-07) issued by the agency in November 2023. More than 150 organizations provided comments on the… more

Donor-Advised Funds (DAFs), IRS, Private Foundations, Proposed Regulation

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UK Arbitration Act 2025 to Enter Into Force on 1 August

The substantive reforms contained within the Arbitration Act 2025, which received Royal Assent on 24 February, will come into full force on 1 August 2025. The reforms will apply to all English-seated arbitrations commenced on or… more

Arbitration, Arbitration Agreements, Arbitration Awards, Arbitration Procedural Rules, Corporate Counsel

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COVID-19 in India: Lockdown Guidelines Revised

The nationwide lockdown in India in response to the coronavirus (COVID-19) pandemic has been extended until May 3. The Indian government has permitted the operation of certain additional business activities from April 20… more

Coronavirus/COVID-19, Government Lockdown, India, Operators of Essential Services, Wage and Hour

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New Jersey Rejects Contractual Shortening of Limitations Period

The New Jersey Supreme Court’s decision forbids employers from contractually shortening the two-year limitations period under the state’s Law Against Discrimination. In a decision issued on June 15 that reversed two lower… more

Arbitration Agreements, Contract of Adhesion, Employment Contract, Employment Discrimination, Limitation Periods

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National Telecommunications and Information Administration Seeks Input on US Spectrum Strategy

The US Commerce Department’s National Telecommunications and Information Administration (NTIA), the executive branch’s advisor and representative on spectrum policy, recently launched a public inquiry to develop the National… more

5G Network, NTIA, Public Comment, Telecommunications, Wireless Industry

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Copyright, Patent, or Trade Secret Protection for AI Content: Challenges and Considerations

From creative endeavors like art and music to practical applications like translation and weather forecasting, artificial intelligence (AI) is producing more and more content and being used by inventors. Given the nuances in how… more

Artificial Intelligence, Authorship, Computer-Related Inventions, Copyright, European Patent Office

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NMPA Releases Draft Administrative Measures for Pharmaceutical Representatives: Review and Considerations

China’s main healthcare regulatory bodies, including the National Medical Products Administration, released draft administrative measures for pharmaceutical representatives intended to strengthen anti-corruption efforts and… more

Pharmaceutical Industry, Prescription Drugs, State Administration for Market Regulation (SAMR)

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US Department of Justice Updates Its Evaluation of Corporate Compliance Programs

The Criminal Division of the US Department of Justice released a revised version of its Evaluation of Corporate Compliance Programs on September 23, 2024. The guidance is intended to help prosecutors assess the effectiveness of… more

Compliance, Corporate Crimes, Corporate Misconduct, Department of Justice (DOJ)

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UK and European Taskforce Emerges to Expand Anti-Corruption as US Looks to Scale Back

The United Kingdom, France, and Switzerland recently issued a founding statement to establish a new anti-corruption prosecutorial taskforce—an international move that could be seen as a response to the United States’ pause on… more

Anti-Corruption, Bribery, Enforcement, Foreign Corrupt Practices Act (FCPA), Serious Fraud Office (SFO)

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving… more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

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Rise of Text-to-Speech AI Models Part 1: Intellectual Property Issues

Text-to-speech AI models (TTS Models) are rapidly evolving within the broader spectrum of AI solutions, offering tremendous potential for businesses. These models can analyze text and speech as well as generate anything from… more

Artificial Intelligence, Copyright, Intellectual Property Protection, Text Messages

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Second Circuit Affirmance of ‘Sterilization’ Remedy Denial in 13d Case Reinforces Need for Appropriate Advance Notice Bylaws

The US Court of Appeals for the Second Circuit recently affirmed a District Court’s denial of a company’s request to “sterilize” the voting securities of stockholders who allegedly violated the disclosure requirements of Section… more

Investors, Schedule 13D, Securities and Exchange Commission (SEC), Securities Exchange Act of 1934

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Race Around the World to Achieve Net Zero Energy Consumption

Since the 2015 Paris Agreement, countries around the globe have been analyzing their energy and development strategies and planning to meet their commitments. While some countries have made progress by, among other things,… more

Carbon Capture and Sequestration, Carbon Emissions, Climate Change, Energy Efficiency, Energy Policy

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Guidance on Distributions for Emergency Personal Expense and Domestic Abuse Victims

The Internal Revenue Service (IRS) released a notice providing guidance on distributions for emergency personal expense and domestic abuse victims under the SECURE 2.0 Act of 2022 (SECURE 2.0). Both distributions are optional,… more

Domestic Violence, Employee Benefits, Hardship Distributions, IRS, Retirement

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Tariff-Related Commercial Litigation: What Businesses Need to Know About Force Majeure Clauses & Common Law Defenses

Faced with ongoing tariff uncertainty, companies in the United States and abroad are grappling with the consequences of existing or forthcoming trade duties for their businesses. Exacerbating this uncertainty, companies’… more

Commercial Litigation, Contract Disputes, Contract Terms, Countervailing Duties, Force Majeure Clause

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Navigating Change: Innovation, Policy, and Market Shifts in the Automotive Industry

The automotive industry is undergoing a period of rapid transformation, driven by advancements in electric vehicle (EV) technology, artificial intelligence (AI), and digital connectivity amid shifting trade policies and evolving… more

Artificial Intelligence, Automotive Industry, Electric Vehicles, Innovation, Regulatory Requirements

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Nasdaq Proposes Stricter Delisting Rules for Noncompliance with Minimum Bid Price Requirement

The Nasdaq Stock Market LLC (Nasdaq) recently filed with the Securities and Exchange Commission (SEC) the proposed amendments to its rules regarding the delisting of penny stocks (i.e., shares with bid price below $1.00), aiming… more

Delisting, Nasdaq, Noncompliance, Securities and Exchange Commission (SEC)

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Noncompete Clause No Longer Persona Non Grata in Wake of Ryan Ruling

Mere months after the Federal Trade Commission (FTC) approved a final rule banning almost all worker noncompete clauses, the US District Court for the Northern District of Texas granted in Ryan LLC v. Federal Trade Commission… more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

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Split SEC Adopts New and Amended Rules Overhauling Private Fund Industry

On August 23, 2023, the US Securities and Exchange Commission (SEC) voted 3-2 to adopt new and amended rules under the Investment Advisers Act of 1940, as amended (Advisers Act) that will impose additional requirements on… more

Investment Adviser, Investment Advisers Act of 1940, Private Funds, Registered Investment Advisors, Securities and Exchange Commission (SEC)

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DOJ FCPA Declination Points to Continuation of Policies and Importance of Robust Compliance

An August 7, 2025 declination agreement published by the US Department of Justice’s (DOJ’s) Fraud Section—and the first bribery DOJ resolution of President Trump’s second term—provides initial insights into declinations under… more

Anti-Corruption, Bribery, Corporate Counsel, Corporate Crimes, Criminal Investigations

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Five Developments Family Offices Are Watching in 2025

As family offices continue to adapt to economic, financial, and technological changes, several ongoing developments are giving family offices plenty consider heading into 2025, including gift and estate tax exemptions, which are… more

Anti-Money Laundering, Estate Planning, Estate Tax, Estate-Tax Exemption, Family Offices

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FDA’s Shifting Stance on Public Disclosure of NDA and BLA Complete Response Letters – How Far Will It Go?

The US Food and Drug Administration has announced a renewed focus on a long-considered issue—whether FDA should release complete response letters (CRLs) issued to drug or biologic applicants. Specifically, on July 10, 2025 FDA… more

Biosimilars, Disclosure Requirements, FDA Approval, Food and Drug Administration (FDA), Pharmaceutical Industry

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Modernizing FINRA Rules for Member Workplaces: A Call for Comments

FINRA previously announced in Regulatory Notice 25-04 that it is launching a broad review to modernize its rules regarding member firms and associated persons and identified the modern workplace as its area of initial focus… more

Broker-Dealer, Financial Industry Regulatory Authority (FINRA), Investment Adviser, Modernization, Registered Investment Advisors

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CARES Act and Federal Reserve Offer Economic Assistance to Stabilize US Economy (UPDATED)

The Federal Reserve took additional actions on April 9 to provide up to $2.3 trillion in loans to support the US economy during the coronavirus (COVID-19) pandemic. This LawFlash covers the new and expanded programs, and… more

CARES Act, Coronavirus/COVID-19, Federal Loans, Financial Stimulus, Main Street Lending Programs

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Role of Antitrust Laws in Labor Markets, Including in the Energy Field, Remains Key Focus of Enforcers

As noted in this article by Morgan Lewis antitrust lawyers, the role of antitrust laws in labor markets, including in the energy field, remains a key area of focus by enforcers, including the Antitrust Division of the US… more

Antitrust Litigation, Energy Sector, Risk Management

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CDC Issues Health Recommendations for Vaccinated People; States Begin Issuing Vaccine Guidance

The Centers for Disease Control and Prevention (CDC) issued public health recommendations for fully vaccinated people that provide guidance on activities these individuals can engage in as well as ongoing precautions of which to… more

Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, DFEH, Health and Safety, Infectious Diseases

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‘One Big Beautiful Bill Act’: Key Final Medicaid Changes Explained

The One Big Beautiful Bill Act was signed into law on July 4 and includes significant changes to the Medicaid program, particularly with regard to state and federal financing for the program. This LawFlash provides a high-level… more

Centers for Medicare & Medicaid Services (CMS), Federal Funding, Health Care Providers, Healthcare Reform, Immigrants

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2020 PTAB Digest: The Latest Trends and Developments in Post-Grant Proceedings

As of 2020, post grant proceedings have been in use for eight years. Designed as an alternative to district court litigation post grant proceedings have offered litigants a faster and more cost effective forum for resolving… more

Corporate Counsel, Covered Business Method Patents, Ex Partes Reexamination, Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board

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Navigating the New Era of Private Equity and Institutional Capital in Sports Investing: Key Takeaways

As institutional capital floods into sports, investors are navigating a rapidly changing landscape where traditional financial models don’t always apply. At the 2025 Moorad Symposium, global sports industry practice co-chairs… more

Financial Markets, Institutional Investors, Investment, Investment Funds, Private Equity

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PTAB Digest 2021/2022: The Latest Trends and Developments in Post-Grant Proceedings

The PTAB Digest 2021/2022 provides an overview of PTAB statistics, trends, and updates that impact strategies and business decisions for patent owners and petitioners alike. Significant developments included the following:… more

Administrative Patent Judges, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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SEC Issues FAQs on Broker-Dealer Crypto Asset Activities, Transfer Agent Blockchain Use

The Staff of the Division of Trading and Markets of the US Securities and Exchange Commission issued on May 15, 2025 responses to Frequently Asked Questions Relating to Crypto Asset Activities and Distributed Ledger Technology… more

Blockchain, Broker-Dealer, Cryptocurrency, Digital Assets, Financial Institutions

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New York’s DOL Publishes New Guidance, FAQs on Retail Workers Safety Act

Just days before the Retail Worker Safety Act took effect on June 2, 2025, the New York State Department of Labor issued guidance, model training, and a sample policy to assist covered employers with compliance. The act, signed… more

Employee Training, Employer Responsibilities, New Guidance, New Legislation, New York

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NHTSA Promulgates Final Rule on Whistleblower Program

The National Highway Traffic and Safety Administration (NHTSA) has published a long-awaited final rule establishing regulations to implement its whistleblower program. The whistleblower program authorizes the Secretary of… more

Automotive Industry, Department of Transportation (DOT), NHTSA, Safety Standards, Whistleblowers

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US Tax Court Decision Opens Limited Partners to Self-Employment Tax Exposure

Private equity, hedge fund, and other investment fund sponsors should be aware of the recent development in the Internal Revenue Service’s (IRS’s) audit campaign with respect to potential liability for Self-Employment… more

Income Taxes, IRS, Limited Liability Company (LLC), Limited Partnerships, Self-Employment Tax

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CPPA Board Finalizes New Rules on ADMT, Cybersecurity Audits, and Risk Assessments

The California Privacy Protection Agency (CPPA) board unanimously voted on July 24, 2025 to finalize a package of regulations related to automated decision-making technology (ADMT), cybersecurity audits, and risk assessments… more

Audits, Automated Decision Systems (ADS), California Consumer Privacy Act (CCPA), California Privacy Protection Agency (CPPA), Consumer Privacy Rights

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Energy Storage Rides a Wave of Growth but Uncertainty Looms: A Global Opportunity and Regulatory Roadmap for 2025

A Global Opportunity and Regulatory Roadmap for Energy Storage in 2025 The energy storage sector maintained its upward trajectory in 2024, with estimates indicating that global energy storage installations rose by more than 75%,… more

Battery, Clean Energy, Climate Change, Energy Sector, Energy Storage

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Exploring the Legal Frontier of Space and Satellite Innovation

For companies in the aerospace and defense industry, the future of space innovation involves far more than rockets and satellites. Intellectual property, technology transfers, data privacy, and life sciences are among the fields… more

Data Privacy, Export Controls, FCC, Government Agencies, Intellectual Property Protection

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DC Circuit Issues Landmark Ruling Holding CEQ Lacks Authority to Issue NEPA Regulations

The two-judge majority opinion in Marin Audubon Society v. Federal Aviation Administration effectively invalidates the White House Council on Environmental Quality’s (CEQ’s) longstanding regulations implementing the National… more

CEQ, Environmental Assessments, Environmental Impact Report (EIR), Environmental Policies, Environmental Review

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Attorney General’s Guidance on Unlawful Discrimination: Implications for Federal Funding Recipients and FCA Whistleblower Accountability

The Office of the Attorney General in the US Department of Justice (DOJ) issued a Memorandum on July 29, 2025, titled “Guidance for Recipients of Federal Funding Regarding Unlawful Discrimination” (the Guidance). The Guidance… more

Anti-Discrimination Policies, Anti-Retaliation Provisions, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), False Claims Act (FCA)

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Texas Joins the Emerging Landscape of State-Level AI Governance

Governor Greg Abbott recently signed into law the Texas Responsible Artificial Intelligence Governance Act (TRAIGA or Act), which takes effect on January 1, 2026. Texas joins California, Colorado, and Utah as one of the… more

Artificial Intelligence, Biometric Information, Disclosure Requirements, Enforcement, Government Agencies

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State Consumer Privacy Laws: New Privacy Laws in Texas, Oregon, and Montana Take Effect in 2024

Beginning July 1, 2024, Texas and Oregon will join the growing list of states with active consumer privacy laws, with Montana joining them on October 1. The new laws are similar to existing state data privacy laws in that they… more

Consumer Privacy Rights, Cybersecurity, Data Privacy, Data Protection, Data Security

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Pharma Review - Issue 3

Welcome to the third issue of the Morgan Lewis Pharma Review, which summarizes key recent cases from the Federal Circuit and district courts that impact the pharma space, including Federal Circuit and district court decisions in… more

Abbreviated New Drug Application (ANDA), Antitrust Division, Claim Construction, Hatch-Waxman, Inter Partes Review (IPR) Proceeding

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FinCEN Removes BOI Reporting Requirements for US Companies and US Persons

The Financial Crimes Enforcement Network issued an interim final rule that removes the requirement for US companies and US persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act… more

Anti-Money Laundering, Beneficial Owner, Corporate Transparency Act, Filing Deadlines, Final Rules

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1940 Act Regulatory Checklists

Rule 12d1-4 under the Investment Company Act of 1940 permits funds to enter into “funds of funds” arrangements notwithstanding the prohibitions of Section 12(d)(1) of the Act of 1940, provided that certain conditions are met… more

Asset Management, Derivatives, Environmental Social & Governance (ESG), Financial Services Industry, Fund Managers

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Attorney General’s Guidance on Unlawful Discrimination: Implications for Federal Funding Recipients and FCA Whistleblower Accountability

The Office of the Attorney General in the US Department of Justice (DOJ) issued a Memorandum on July 29, 2025, titled “Guidance for Recipients of Federal Funding Regarding Unlawful Discrimination” (the Guidance). The Guidance… more

Anti-Discrimination Policies, Anti-Retaliation Provisions, Department of Justice (DOJ), Diversity and Inclusion Standards (D&I), False Claims Act (FCA)

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The COVID-19 Test for Compensation Committees

Compensation Committees are addressing whether compensation should be adjusted to reflect the effect of the coronavirus (COVID-19) pandemic on companies’ businesses and how to correlate executive compensation with changing… more

Compensation Committee, Coronavirus/COVID-19, Executive Compensation, Publicly-Traded Companies

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UAE Central Bank Takes Measures in Response to COVID-19

Measures under the Targeted Economic Support Scheme include allowing UAE banks to temporarily defer loan repayments and extend existing facilities for corporate and retail clients… more

Banks, Coronavirus/COVID-19, Deferred Action, Loans, Retail Banks

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Fiat-Backed Stablecoin Regulation Compared: UK, EU, Hong Kong, and US

This LawFlash compares the regulatory requirements (as currently proposed or established) on single fiat-backed stablecoin issuers in the United Kingdom, European Union, Hong Kong, and the United States… more

Cryptoassets, EU, Financial Markets, Hong Kong, New Regulations

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Great Atlantic & Pacific Tea Co. – Giving Structure to a Structured Dismissal

Most corporate bankruptcy filings result in either a plan of reorganization under Chapter 11 of the Bankruptcy Code (the Code) or a liquidation under Chapter 7 of the Code. Sometimes, however, neither option is viable and the… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Structured Dismissals

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Debtors Need Not Apply? Continuing Developments on the SBA’s Authority to Deny PPP Loans to Debtor Applicants

The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the… more

Bankruptcy Code, CARES Act, Commercial Bankruptcy, Coronavirus/COVID-19, Debtors

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A New Line Drawn: Federal Circuit Applies Prosecution History Disclaimer to Design Patents

The US Court of Appeals for the Federal Circuit recently issued a decision that held for the first time that principles of prosecution history disclaimer apply to design patents, aligning design patent law more closely with… more

CAFC, Corporate Counsel, Design Patent, Patent Applications, Patent Infringement

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Ninth Circuit Exempts Relators from Ban on Customs-Based FCA Actions

In a recent decision, the US Court of Appeals for the Ninth Circuit determined that its decades-long ban on customs-based False Claims Act actions does not apply to qui tam relator actions. The decision leaves the ban in place… more

Appeals, False Claims Act (FCA), Jurisdiction, Qui Tam, Relators

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Tailoring Shareholder Reports: SEC Finalizes Amendments to Registered Fund Shareholder Reporting Requirements

The US Securities and Exchange Commission (SEC) recently finalized rule and form amendments (Adopted Rules) that require mutual funds and most exchange-traded funds (ETFs) to provide shareholders with streamlined and “visually… more

Corporate Governance, Reporting Requirements, Securities and Exchange Commission (SEC), Shareholders

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HKEx Issues Conclusions on Optimizing IPO Price Discovery and Open Market Requirements

This LawFlash breaks down the key conclusions of the HKEx’s consultation on optimizing IPO price discovery and open market requirements, which aimed to review the existing decades-long regulatory framework and enhance the… more

Capital Markets, Hong Kong Stock Exchange, Initial Public Offering (IPO), Listing Rules, Publicly-Traded Companies

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Singapore High Court Holds Employee Lawfully Terminated for Failure to Meet Performance Ratio, Not Entitled to Damages or Unpaid Bonus

In BGC Partners (Singapore) Ltd and another v Sumit Grover [2024] SGHC 206 (BGC v Grover), the Singapore High Court allowed the employer’s claim for recovery of an unpaid loan with contractual interest from a former employee and… more

Bonuses, Performance Standards, Singapore, Wage and Hour

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SEC Releases Draft Strategic Plan for Fiscal Years 2022 to 2026

The US Securities and Exchange Commission recently released its draft Strategic Plan for fiscal years 2022 to 2026 for public comment. The Strategic Plan sets forth the following three key goals for the Securities and Exchange… more

Capital Markets, Comment Period, Cybersecurity, Financial Reporting, Internal Controls

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Publication of Final Listing Rules Marks Fundamental Overhaul of UK Listing Regime

The new UK listing regime, entering into force on 29 July 2024, is the result of more than three years and multiple rounds of consultation and is intended to make the UK a more attractive market for listing. The Listing Rules… more

Capital Markets, Disclosure Requirements, Financial Conduct Authority (FCA), Listing Rules, UK

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UK FCA Publishes PISCES Sourcebook, Completing the Regulatory Regime for This New Form of Private Market

The UK Financial Conduct Authority recently issued the PISCES Sourcebook, finalizing the regulatory regime for this new type of private capital market. On 10 June 2025, the UK Financial Conduct Authority (FCA) published Policy… more

Capital Markets, Disclosure Requirements, Final Rules, Financial Conduct Authority (FCA), New Regulations

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SVB and Distressed Banks: Lessons Learned from a Wild Weekend

US governmental authorities, including the US Department of the Treasury, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation, took actions to provide both insured and uninsured… more

Banking Sector, Deposit Accounts, Deposit Insurance, Depository Institutions, FDIC

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California Voluntary Carbon Market Disclosures Act Compliance Deadline: Strategic Considerations

In October 2023, California enacted AB 1305, the Voluntary Carbon Market Disclosures Act, as part of a trio of climate laws aimed at advancing transparency and integrity in decarbonization efforts. As businesses prepare for AB… more

California, Carbon Emissions, Climate Change, Disclosure Requirements, Greenhouse Gas Emissions

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US Department of Education Issues Sweeping Guidance on Race-Conscious Practices By Academic Institutions

The US Department of Education’s (the Department’s) Office for Civil Rights issued a sweeping “Dear Colleague” letter on February 14, 2025 outlining a new zero-tolerance policy for the consideration of race in any regard by… more

Affirmative Action, Civil Rights Act, Colleges, Department of Education, Educational Institutions

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New Chinese Administrative Forum, CNIPA, Issues First Patent Infringement Decisions Against Generic Drug Makers

The China National Intellectual Property Administration, a newly established administrative authority on patent infringement disputes, recently issued its first decisions, addressing questions many companies had on the practical… more

China, CNIPA, Corporate Counsel, Generic Drugs, Intellectual Property Protection

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M&A Considerations Across the Technology Sector

Technology is quickly becoming one of the most active and dynamic sectors for mergers and acquisitions (M&A) in 2025. Despite a macro environment filled with uncertainty, technology deal activity reflects an appetite for growth,… more

Acquisitions, Antitrust Provisions, Artificial Intelligence, Cybersecurity, Data Privacy

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Nasdaq Proposes Stricter Delisting Rules for Noncompliance with Minimum Bid Price Requirement

The Nasdaq Stock Market LLC (Nasdaq) recently filed with the Securities and Exchange Commission (SEC) the proposed amendments to its rules regarding the delisting of penny stocks (i.e., shares with bid price below $1.00), aiming… more

Delisting, Nasdaq, Noncompliance, Securities and Exchange Commission (SEC)

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ETFs for ERISA Plans: Operational Barriers and Potential Benefits

Exchange-traded funds (ETFs) have gained an increasing foothold in the wealth-management investment universe, with ETF assets under management currently about half the assets under management of mutual funds. As the ETF market… more

401k, Asset Management, Employee Retirement Income Security Act (ERISA), ETFs, Fiduciary Duty

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UK Government and FCA Propose More Streamlined, Nuanced Approach to Regulating Managers of Alternative Investment Funds

The UK government’s April launch of a consultation, along with a related call for input by the FCA, paves the way for further material divergence between the EU and UK models for the regulation of managers of alternative… more

Alternative Investment Funds, Asset Management, Financial Conduct Authority (FCA), Financial Regulatory Reform, Fund Managers

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ETFs for ERISA Plans: Operational Barriers and Potential Benefits

Exchange-traded funds (ETFs) have gained an increasing foothold in the wealth-management investment universe, with ETF assets under management currently about half the assets under management of mutual funds. As the ETF market… more

401k, Asset Management, Employee Retirement Income Security Act (ERISA), ETFs, Fiduciary Duty

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DOJ Announces First FCA Settlement with Medical Device Company for Cybersecurity Violations

The US Department of Justice’s settlement with Illumina, Inc. is a first-of-its-kind involving alleged cybersecurity deficiencies causing violations of the False Claims Act (FCA) based on FDA quality standards. The cybersecurity… more

Cybersecurity, Department of Justice (DOJ), Digital Health, Enforcement Actions, False Claims Act (FCA)

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DOJ and HHS Announce Joint False Claims Act Working Group

The US Departments of Justice and Health and Human Services recently issued a press release on the formation of a new False Claims Act Working Group, signaling to the healthcare industry an increased focus on anti-fraud… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Department of Justice (DOJ), Enforcement Actions, Enforcement Priorities

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China Expands Visa-Free Transit Policy to Boost International Travel

As part of China’s continuous effort to strengthen exchanges and collaborations between Chinese citizens and foreign nationals, the Chinese government has further expanded its visa-free transit policies to promote… more

China, Foreign Nationals, Foreign Policy, Immigration Procedures, International Travel

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IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

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US Offshore Wind Roundup as of March 2023

Despite global economic headwinds, the US offshore wind industry has continued to slowly but steadily blossom, driven largely by enhanced vision and cooperation among federal government agencies under the Biden administration,… more

Biden Administration, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Offshore Wind

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Asia's Private Investment Landscape: Trends, Strategies & Insights

The Asian private investment market has experienced significant growth in recent years, driven by factors such as regional economic expansion, evolving regulatory landscapes, and increasing investor appetite for alternative… more

Acquisitions, Investment, Investment Funds, Investors, Private Equity

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California Retroactively Extends Sick Leave Coverage for Employees Affected by COVID-19

California Governor Gavin Newsom signed into law Senate Bill 95 (SB 95) on March 19, 2021. SB 95 requires employers to provide employees with supplemental paid sick leave (CSPSL) for various absences related to COVID-19 and… more

Coronavirus/COVID-19, Infectious Diseases, New Legislation, Relief Measures, Sick Leave

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One Big Beautiful Bill Act Tax Proposals: Select Highlights and Implications

The US House of Representatives on May 22, 2025 passed the One Big Beautiful Bill Act (the Act), which includes a tax package that would extend certain provisions of the 2017 Tax Cuts and Jobs Act set to expire at the end of… more

Clean Energy, Energy Policy, Energy Sector, Inflation Reduction Act (IRA), Investment Funds

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DOJ Emphasizes Importance of Antitrust Compliance Programs for HR Professionals

The US Department of Justice’s Antitrust Division recently stated that antitrust compliance programs must include training for human resources professionals on issues such as wage-fixing and no-poach agreements in order to be… more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Competition, Department of Justice (DOJ)

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Upcoming Deadlines to Dispute California Property Tax Valuation for 2025

For California property owners that could potentially reduce their property taxes with a decline-in-value assessment appeal, the property tax assessment appeals for 2025 are due by either September 15 or December 1 depending on… more

Assessment, California, Filing Deadlines, Property Tax, Property Valuation

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Venezuelan Employers Must Immediately Put Outsourced Employees on Payroll

The grace period for implementation has expired. Venezuelan employers were required to incorporate outsourced employees into their payroll as of May 7 to meet the deadline for the 2012 Organic Law of Labor and Workers… more

Employer Mandates, Independent Contractors, Outsourcing, Temporary Employees, Venezuela

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Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 4—Timing of Taxation under Code Sections 83, 3121(v), and 457(f)

This is the fourth part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC) banning the enforcement of almost all noncompete… more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Final Rules, Internal Revenue Code (IRC)

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Fiat-Backed Stablecoin Regulation Compared: UK, EU, Hong Kong, and US

This LawFlash compares the regulatory requirements (as currently proposed or established) on single fiat-backed stablecoin issuers in the United Kingdom, European Union, Hong Kong, and the United States… more

Cryptoassets, EU, Financial Markets, Hong Kong, New Regulations

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GENIUS Act Passes in US Congress: A Breakdown of the Landmark Stablecoin Law

The US House of Representatives passed the Guiding and Establishing National Innovation for US Stablecoins Act, or the “GENIUS Act,” on July 17, 2025, sending the landmark legislation to President Donald Trump for his signature… more

Anti-Money Laundering, Blockchain, Cryptocurrency, Digital Assets, Financial Regulatory Reform

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Influencer Marketing Class Actions on the Rise: Common Themes & Key Takeaways

A wave of class action lawsuits targeting influencer marketing practices has emerged in the first half of 2025, signaling what could be a popular trend in consumer class action litigation. With demands for substantial monetary… more

Class Action, Corporate Counsel, Damages, Disclosure Requirements, False Advertising

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Unveiling and Preventing Common Expense Fraud Schemes in China

In this LawFlash, we outline the expense fraud scheme reported in a 2019 case involving the crime of illegal sale of “fapiaos,” examine some typical expense fraud schemes in China, and provide our practical takeaways with regard… more

China, Fraud, Purchase and Sale Agreements, Reimbursements, White Collar Crimes

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Hong Kong’s Stablecoins Ordinance to Take Effect August 1: An Overview of the Regulatory Framework

On June 6, 2025, the government of Hong Kong published in the Gazette a notice to appoint August 1, 2025 as the effective date for the Stablecoins Ordinance (Cap. 656) following passage of the Stablecoins Bill on May 21, 2025… more

Anti-Money Laundering, Blockchain, Cryptocurrency, Digital Assets, FinTech

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‘… this isn’t Hotel California’ (or India’s New Fixed Offer Price Mechanism for Taking Public Companies Private)

The Securities and Exchange Board of India has decided to simplify the process of taking public companies private in India by permitting fixed-price delisting offers as an alternative to the existing requirement of determining… more

Board of Directors, Corporate Governance, India, Publicly-Traded Companies, Shareholders

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Shanghai Introduces Shared-Cost Mechanism to Support Maternity and Childbirth Leave

The Shanghai government on August 8, 2025 introduced a significant new policy to combat declining birth rates, an ageing population, and perceived barriers in the workplace for female professionals. The policy aims to benefit… more

China, Compensation & Benefits, Employee Benefits, Employees, Employer Responsibilities

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FTC Raises Hart-­Scott-­Rodino Thresholds and Filing Fees for 2025

The Federal Trade Commission (FTC) announced on January 10, 2025 that it will raise the Hart­-Scott­-Rodino Act (HSR Act) jurisdictional and filing fee thresholds. The increased thresholds will go into effect 30 days after their… more

Acquisitions, Antitrust Provisions, Competition, Corporate Counsel, Federal Trade Commission (FTC)

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China Announces Plan to Gradually Increase Statutory Retirement Age

China has released its plan to raise the statutory retirement age for male and female employees. The increase will start to gradually take effect from January 1, 2025. The ultimate retirement age set by statute will continue to… more

China, Employee Benefits, International Labor Laws, Retirement

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SCOTUS Punts on Remedy for Unconstitutional Chapter 11 Quarterly Fee Increase

Earlier this year, we highlighted the US Supreme Court’s grant of certiorari in Siegel v. Fitzgerald (In re Circuit City Stores, Inc.) to determine whether a 2017 statute that increased Chapter 11 quarterly fees was… more

Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Constitutional Challenges, Fees

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Russia Sanctions Update – US / EU (And Brexit-UK) Overview And Energy Sector Focus & Russian Countersanctions, as of 10 December 2020

The still evolving US sanctions (as well as the EU and now also separate UK sanctions) continue to challenge Russia-related business. The sanctions frameworks are complex, changing, and, at times, inconsistent as well as… more

Bureau of Industry and Security (BIS), CAATSA, Crimea, Economic Sanctions, EU

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Biden Highlights IRS Plans to Audit Corporate/Partnership Jet Use in State of the Union Address

In his State of the Union address, President Joseph Biden targeted tax breaks for corporations and wealthy individuals who use private jets as part of a broader goal to make big corporations and the wealthy pay “their fair… more

IRS, Section 162(m), Tax Audits, Tax Code, Tax Cuts and Jobs Act

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SEC Staff Issues Updated Marketing Rule FAQs

SEC Staff published new guidance providing private fund managers and other investment advisers with flexibility to use extracted performance and portfolio/investment characteristics in marketing materials, without cumbersome… more

Disclosure Requirements, Investment Adviser, Investment Advisers Act of 1940, Investment Funds, Investment Management

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One Big Beautiful Bill: Impact on Welfare Benefits

President Donald Trump signed the One Big Beautiful Bill (OBBB) into law on July 4, 2025. The OBBB is a wide-ranging piece of legislation that introduces significant reforms across multiple areas of federal policy, including… more

Dependent Care, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, HDHP

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Harm Is Not Required to Sue Under Illinois Biometric Privacy Statute

In a significant ruling for businesses operating in Illinois, the Illinois Supreme Court held that plaintiffs are not required to allege actual harm to sue for liquidated damages and/or injunctive relief under the state’s… more

Amusement Parks, Biometric Information, Biometric Information Privacy Act, Data Collection, Data Privacy

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German Federal Court of Justice Strengthens Minimum Offer Price Rules Under German Securities Acquisitions and Takeover Act - Legal Insights Germany

The German Federal Court of Justice (FCJ), in two recent judgments (case numbers II ZR 219/21 and II ZR 220/21), awarded former shareholders of a target company that accepted a takeover offer payment claims for the difference… more

Acquisitions, Capital Markets, Germany, Shareholders

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US Supreme Court Strikes Down Partial Institutions in IPRs

The ruling in SAS Institute v. Iancu, which requires final written decisions on all or none of the challenged claims, will lead petitioners to carefully consider their strategy on which claims to challenge in an inter partes… more

Inter Partes Review (IPR) Proceeding, Patent Trial and Appeal Board, Patents, SAS Institute Inc. v Iancu, SCOTUS

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