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The US Securities and Exchange Commission (SEC) proposed new climate change disclosure rules on March 21, 2022. The proposed rules (Release Nos. 33-11042; 34-99478) draw heavily on the “four pillar” disclosure framework developed by the Task Force on Climate-Related Financial Disclosures (TCFD) and are significantly more prescriptive and granular than the SEC’s 2010 guidance on climate change-related disclosures.
On March 9, 2022, US President Joe Biden signed an unprecedented executive order directing federal agencies to coordinate their approach to clarifying cryptocurrency regulations. Sighs of relief were heard across the industry from those who feared a major blow from the White House.
On February 28, 2022, the White House issued a fact sheet outlining several efforts aimed to increase safety, accountability, oversight and transparency in the senior services industry (Fact Sheet).
The Washington State capital gains tax, which went into effect on January 1, 2022, has been held unconstitutional by the Douglas County Superior Court.
The National Labor Relations Board (NLRB) General Counsel’s office issued a memorandum reiterating the rights of immigrant workers under the National Labor Relations Act (NLRA). Continuing its aggressive approach to expanding legal protections for workers and labor unions, the General Counsel’s office of the NLRB issued Memorandum OM 22-09, reiterating NLRB policy on workers’ rights to access the NLRB collective bargaining and remedial procedures regardless of immigration status, without fear of reprisals from their employers or the federal government.
Effective January 1, 2023, Washington employers with at least 15 employees must affirmatively disclose the wage scale or salary range and a general description of all benefits and other compensation being offered when posting job openings, regardless of whether such information is requested by the applicant.
While the United States awaits the Supreme Court’s ruling in Dobbs v. Jackson, which may overturn Roe v. Wade and eliminate the federal standard for abortion access, some states are considering setting their own standards that would ban or protect the medical procedure.
As volatility in the cryptocurrency market has increased, regulators in the United States and around the world have indicated a willingness to impose tougher compliance requirements related to crypto assets. As a result, there is an increasing likelihood that companies that hold or deal in crypto assets may be subject to additional regulations in the coming years.
Manufacturers in the U.S. should take note of a new request for comment from the United States Trade Representative as a lack of support may lead to removal of the tariffs and surge in unfairly priced imports.
On May 18, 2022, the U.S. Court of Appeals for the Fifth Circuit issued its decision in Jarkesy v. Securities and Exchange Comm’n, in which it examined the constitutionality of an agency civil money penalty enforcement proceeding.
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