On Dec. 14, 2022, Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), released a statement announcing a proposal to establish an SEC rule setting forth a best execution standard for broker-dealers.
On December 23, 2022, US Congress approved a year-end omnibus legislative package, Consolidated Appropriations Act, 2023 (CAA 2023), which consists of all 12 fiscal year 2023 appropriations bills and numerous other provisions, including health policy changes.
On August 6, 2021, the US Securities and Exchange Commission (SEC) approved the listing rules proposed by The Nasdaq Stock Market LLC (Nasdaq) to advance board diversity and enhance the transparency of diversity statistics (Board Diversity Rule).
In the context of finalising the first draft of the Markets in Crypto-Assets Regulation (MiCAR), the European Parliament Committee on Economic and Monetary affairs (ECON Committee) was considering a ban on the crypto-assets using “Proof of Work” (PoW) as a consensus mechanism to validate their underlying transactions.
On March 9, 2022, the SEC proposed a new rule to enhance and standardize disclosures regarding cybersecurity incidents, risk management, strategy, and governance.
President Biden has signed an Executive Order intended to respond to the explosive growth in digital assets, including cryptocurrencies.
President Biden has signed an Executive Order entitled “Ensuring Responsible Innovation in Digital Assets.”
The U.S. Supreme Court ruled Jan. 24 in Hughes et al. v Northwestern University et al. that in litigation challenging fiduciaries of benefit plans that allegedly have imprudent investment options, determining whether plan fiduciaries meet ERISA’s duty of prudence requires a context-specific analysis. Plan fiduciaries must conduct their own independent evaluation to determine which investments may be prudently included in the plan’s menu of options, the Supreme Court said, and if the fiduciaries fail to remove an imprudent investment from the plan within a reasonable time, they breach their ERISA fiduciary duty.
The globalization of business means that many companies operate in more than one jurisdiction. This requires multinational companies to be aware of trade laws in several jurisdictions, e.g., regarding export control laws and economic sanctions regimes. When a jurisdiction’s laws apply extraterritorially or regimes conflict, companies are left wrestling with whether to proceed with certain transactions. This is particularly true in relation to the economic sanctions regimes in the European Union and the United States. For companies subject to U.S. economic sanctions regimes, compliance is complicated by Regulation (EC) No 2271/96 (EU Blocking Regulation), which was updated in 2018 in light of the U.S. position on Iran. An illustration of this can be found in the recent judgement by the Court of Justice of the EU (CJEU) (Grand Chamber) in Bank Melli Iran v Telekom Deutschland.
The District of Columbia Council has postponed the first effective date of voter Initiative 82, the “Tip Credit Elimination Act,” from January 1, 2023, to May 1, 2023.
In 2022, New York State and New York City enacted many new workplace laws, creating additional obligations for employers.
On December 16, 2022, a federal district judge in California denied artist Ryder Ripps’s and his partner’s anti-SLAPP motion and motion to dismiss in a closely monitored action filed against them by Yuga Labs, Inc. (“Yuga”), the creator behind the monumentally successful Bored Ape Yacht Club (“BAYC”) NFTs.
If your New Year’s resolution is fitness-related, we’re on the same page … or hamster wheel.
Even with the strictest compliance with Occupational Safety and Health Administration (OSHA) regulations and best workplace safety practices, on-the-job injuries from time to time are inevitable in the construction industry.
The Equal Employment Opportunity Commission (EEOC) promised in a March 2022 hearing to address what it considered to be “severe and pervasive” discrimination in the construction sector.
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