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Treasury and IRS Issue Proposed Regulations With Respect to Clean Hydrogen Credits Under Sections 45V and 48 of the Internal Revenue Code
On December 22, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released a notice of proposed rulemaking and notice of public hearing containing proposed regulations (Proposed Regulations) with respect to Internal Revenue Code of 1986, as...
Natural Resources: Renewable Energy
Bracewell’s Taylor Stuart , Joshua Robichaud and Catherine McCarthy recently contributed a chapter on renewable energy for the American Bar Association’s Recent Developments in Infrastructure and Regulated Industries 2023 . This chapter provides a high-level summary of notable developments in...
Navigating Compliance Trends With a Roadmap to a Corporate Culture of Integrity
The Department of Justice has published — and continues to update and emphasize — a set of practical guidelines on what it views as an effective compliance program and how it makes decisions about bringing charges and evaluating resolutions. Companies...
Key Developments in Environmental Law and Policy in 2023, and What's Ahead in 2024
On this episode of the Bracewell Environmental Law Monitor, we look back at the significant developments in environmental and natural resources law and policy in 2023, as well as look ahead to what's to come in 2024. Co-hosts Daniel Pope...
The Investment Tax Credit for Offshore Wind Projects: A Second Look at the Proposed Regulations Under Section 48
On November 22, 2023, the Internal Revenue Service and Treasury Department released proposed regulations (the Proposed Regulations) relating to the investment tax credit (the ITC) under Section 48 of the Internal Revenue Code of 1986, as amended (the Code). The...
Third Circuit Provides Guidance on Reviewability of Constructive Approvals Resulting From FERC Deadlocks in PJM Focused-MOPR Appeal
On December 1, 2023, the U.S. Court of Appeals for the Third Circuit held that outcomes by operation of law caused by deadlocks among the members of the Federal Energy Regulatory Commission (“FERC” or “Commission”) are judicially reviewable as final...
What is AI Washing? The SEC’s Latest Target
Is AI the new green? Recent comments by Securities and Exchange Commission Chair Gary Gensler suggest the regulator is primed to begin turning its enforcement efforts against so-called “AI washing,” presenting a new area of risk for some companies that...
FINRA Facts and Trends: December 2023
Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. This month, we report on a significant proposed rule...
Demystifying The Good Neighbor Rule: Summary and Litigation Update
It can be difficult to keep track and make sense of all the activity under the EPA’s Clean Air Act programs and regulations. In this episode of the Bracewell Environmental Law Monitor, co-hosts Daniel Pope and Taylor Stuart talk with...
DOJ Spotlights Voluntary Self Disclosure in M&A as it Adapts to New National Security Threats
The past few months have seen numerous high-profile enforcement actions highlighting an increasing trend, what Deputy Attorney General Lisa Monaco called “the biggest shift in corporate criminal enforcement that I’ve seen during my time in government: the rapid expansion of...
Crystal Ball Gazing – Are There Calmer Waters in the Offshore Wind Sector in 2024?
2023 seems to have been a perfect storm for the offshore wind industry around the globe. Between permitting delays and grid connection hurdles, inflation and supply chain challenges all have led to some developers wanting to renegotiate their previously agreed...
What SEC Retreat in Ripple Case Means for Crypto Regulation
Bracewell’s Keith Blackman takes a look at the ripple effect of the SEC’s regulation-by-enforcement approach to cryptocurrency policy rather than through rulemaking. The agency's recently aborted enforcement action against two Ripple Labs executives for alleged securities law violations demonstrates the limits of this piecemeal tactic.
Chevron Overboard? Loper Bright Enterprises v. Raimondo With Prof. Kristin Hickman
Since the 1980s, Chevron deference has set the standard for when courts should defer to reasonable agency interpretations of ambiguous statutes. That may all change, however, as the US Supreme Court will reconsider the Chevron deference in Loper Bright Enterprises...
Offshore Petroleum Licensing Bill: Energy Security at the Forefront of the Government’s Legislative Agenda
On 7 November 2023, the Offshore Petroleum Licensing Bill (the Bill ) was announced as part of King Charles III’s “King’s Speech”, outlining the UK Government’s legislative agenda for the upcoming UK parliamentary session. If enacted, the Bill would require...
Rethinking Safeguards in Arbitration?
In The Federal Republic of Nigeria v Process & Industrial Developments Limited [2023] EWHC 2638 (Comm) the Commercial Court determined that arbitration awards against Nigeria had been obtained by fraud and were contrary to public policy. This decision is of...