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The municipal securities market carried its momentum from the first half of 2021 into a strong finish for the year against the backdrop of continued regulatory and enforcement actions.
For many years, associations and their managers have responded to questionnaires from mortgage lenders that seek information about the condominium association to help the lender determine whether a loan to a unit owner or buyer will meet Fannie Mae’s requirements for federally guaranteed loans.
The UK’s Financial Conduct Authority (FCA) has just ended its consultation (CP21/29) on whether and how to permit the legacy use of one-, three- and six-month sterling LIBOR from 1 January 2022 to ensure limited market disruption for certain tough legacy loans that link to LIBOR but expire after LIBOR is discontinued. The FCA will require the LIBOR benchmark administrator to publish a “synthetic” LIBOR for the duration of 2022, beyond the cessation of LIBOR panels on 31 December 2021.
The London Interbank Offered Rate (LIBOR), one of the pillars of modern finance, will be phased out after the end of 2021. As of January 1, 2022, no new U.S. dollar LIBOR loans may be made. Existing legacy loans that bear interest based on one-, three- or six-month LIBOR may continue until June 30, 2023, and then they too will have to switch to an alternative reference rate (ARR). Among the many questions that U.S. borrowers have been, or should be, asking is whether the change from LIBOR to another rate will subject them to adverse U.S. tax consequences.
Most employment-based permanent residency applications require the applicant to go through the PERM labor certification process where the U.S. Department of Labor (DOL) certifies that there are not sufficient U.S. workers able, available, and qualified to fill a position.
On May 18, 2023, the United States Supreme Court issued its long-awaited decision in Andy Warhol Foundation for the Visual Arts, Inc. v. Goldsmith, a case that presented the Court with an opportunity to bring clarity to the often highly subjective standards lower courts apply when deciding the issue of fair use of visual works of art under copyright law.
It is more important than ever that employers understand the serious long-term, non-monetary consequences of settling or accepting Occupational Safety and Health Administration (OSHA) citations.
A new Washington law regulating employers’ use of production quotas or production standards for employees working at warehouse distribution centers (House Bill 1762) will go into effect on July 1, 2024.
As a part of the Consolidated Appropriations Act, 2023 (CAA), Congress passed new exceptions to the Physician Self-Referral Law (Stark Law) and the federal Anti-Kickback Statute (AKS) allowing certain healthcare entities to provide mental health or behavioral health improvement and/or maintenance programs to physicians and other clinicians.
On May 17, 2023, the Texas Senate approved Senate Bill No. 14 (SB 14), prohibiting physicians from providing gender-affirming medical care to minors experiencing gender dysphoria (distress that results from having one’s gender identity not match one’s sex assigned at birth).
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