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Inflation Reduction Act
Texas Workforce Commission: New Employment Record Requirement
On September 28, 2012, the Texas Workforce Commission (TWC) proposed a new rule that would require all employers to create and maintain job descriptions for anyone who performed services for the employer over the last four years. Specifically, the TWC...
Beginning October 12th All Book-Outs Must Be Confirmed To Avoid CFTC Regulation
The Commodity Futures Trading Commission (CFTC) rule defining the term "Swap" (Products Rule) becomes effective October 12, 2012. 1 In the Products Rule, the CFTC exempted forward contracts (physically delivered contracts which are not commodity options) from inclusion as Swaps...
Expansion of MSRB Online "Toolkit" Provides New Resources to Organization Account Holders
The Municipal Securities Rulemaking Board (MSRB) recently released new additions to its State and Local Government Toolkit (Toolkit) available online here . Taking center stage is the Electronic Municipal Market Access (EMMA) Trade Monitor, which is designed to help issuers...
The House Cracks the Ice. Will the SEC Sail Through with Municipal Advisor Rules?
Just who is and is not regulated under changes made to federal securities law by the Dodd Frank Act as a "municipal advisor" and consequently a fiduciary to their clients has concerned many since the Securities and Exchange Commission released...
The SEC's New Rules Requiring Annual Disclosure of the Use of Conflict Minerals
The Securities and Exchange Commission (SEC) recently adopted, by a 3-to-2 vote, final rules requiring reporting issuers to disclose annually the use of certain "conflict minerals" originating in the Democratic Republic of the Congo (DRC) and adjoining countries (collectively, the...
The UAE Securities and Commodities Authority Issues Investment Fund Regulations Adopting a "Twin Peaks" Regulatory Approach
Following an extensive consultation period, the UAE Securities and Commodities Authority (SCA) has issued its regulations for investment funds pursuant to Board Decision No. (37) of 2012 Concerning the Regulations as to Mutual Funds (Regulations). The Regulations are significant because...
A Red-Leather Day: Giving Single Color Trademarks in the Fashion Industry a Little Sole
On Wednesday, September 5 th , 2012 the U.S. Court of Appeals for the Second Circuit delivered its much anticipated decision in the case of Christian Louboutin et al. v. Yves Saint Laurent America, Inc., No.11-3303 , holding that Louboutin...
SEC Issues Risk Alert on Campaign Contributions and Pay-to-Play Prohibitions
At the beginning of the Labor Day holiday and in the heart of the campaign season, the SEC's Office of Compliance Inspections and Examinations issued a Risk Alert targeting compliance by investment banks underwriting municipal bonds with rules limiting political...
Employer's Routine Requests to Employees to Keep Internal Investigation Matters Confidential Found Unlawful by NLRB
On July 30, 2012, the National Labor Relations Board (NLRB) ruled that a non-union employer’s practice of routinely advising its employees not to discuss ongoing internal investigation matters with their coworkers violated Section 8(a)(1) of the National Labor Relations Act...
The SEC's New Resource Extraction Issuer Rules – Broad, Vague, Costly, Anti-competitive, and Requiring Immediate Action
Introduction. On August 22, 2012, the Securities and Exchange Commission adopted new rules imposing significant new disclosure obligations on resource extraction issuers (“REIs”). The rules, which implement Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, require...
D.C. Circuit Appeals Court Vacates EPA's Cross-State Rule as Legally Flawed
The United States Court of Appeals for the D.C. Circuit today vacated the Environmental Protection Agency's (EPA) Cross-State Air Pollution Rule (CSAPR) as an unlawful exercise of EPA authority under the Clean Air Act (CAA). The Court also said that...
New America Invents Act Provisions Set to Become Effective in September 2012
The switch to a modified first-inventor-to-file system will not take place until March 16, 2013, but notably several provisions of the Leahy-Smith America Invents Act (AIA) will take effect in one month, on September 16, 2012. The U.S. Patent and...
Sixth Circuit to EPA: Decades of NSR Aggregation/Single Source Applicability Determinations Have Been Wrong
On August 7, 2012, the Sixth Circuit Court of Appeals handed down an important decision that reined in EPA's efforts to try to aggregate oil and gas emissions sources. In Summit Petroleum Corporation v. United States Environmental Protection Agency...
Latest Chapter in New York Market Manipulation Case: Court OKs Morgan Stanley's $4.8 Million Settlement
On August 7, 2012, U.S. District Judge William H. Pauley III granted the Department of Justice Antitrust Division's (DOJ) motion for entry of a consent decree requiring Morgan Stanley to disgorge $4.8 million for its role in an allegedly illegal...
FTC Signals Potential for Greater Use of Monetary Remedies in Competition Cases
The Federal Trade Commission (FTC) has withdrawn its Policy Statement on Monetary Remedies in Competition Cases (Policy Statement) by a 4-1 vote. The Policy Statement, issued in 2003, outlined an analytical framework to guide FTC determination of appropriate circumstances for...