After 10 Years of Litigation, Ninth Circuit Dismisses Northstar v. Schwab Class Action
On September 14, 2018, the United States Court of Appeals for the Ninth Circuit put an end to the long-running Northstar Financial Advisors v ...
ISDA Publishes 2018 U.S. Resolution Stay Protocol: Considerations for the Buy Side
ISDA recently published the ISDA 2018 U.S. Resolution Stay Protocol (the “Protocol”), which is now open for adherence. This Client Alert provides ...
SEC Withdraws Two No-Action Letters Regarding Use of Proxy Advisory Firms – Chairman Clayton Issues Statement Regarding Staff Views
On September 13, 2018, the Division of Investment Management (the “Division”) issued an Information Update (the “Update”) in which it announced ...
United Technologies Hit with $13.9 Million Fine for Making Illicit Payments
On September 12, 2018, the United Technologies Corporation (“UTC”) reached a $13.9 million resolution with the U.S. Securities and Exchange Commission ...
Bid Rigging: For Multinationals, More Than Just a Local Law Violation
Bid Rigging: An Introduction In many countries, purchases of products or services1 by government or public entities take place primarily through public tenders. The ...
Common sense prevails in the UK’s battle over Legal Professional Privilege
Companies around the world can finally breathe a sigh of relief today with respect to the UK’s position on privilege in criminal investigations ...
Medicare Shared Savings Program May Get A Makeover
This article by partner Michael Lampert and associates Susan Sheffler and Whitney Wadman was published by Law360 on August 27, 2018. The Centers for ...
Second Circuit Holds that FCPA Does Not Apply to Foreigners Without U.S. Ties
On August 24, 2018, the United States Court of Appeals for the Second Circuit ruled that a non-resident foreign national cannot be charged with ...
SEC Adopts Amendments to Update and Simplify Disclosure Requirements
On August 17, 2018, the SEC adopted amendments to eliminate, integrate, update or modify certain of its disclosure requirements. The amendments are part of the ...
SEC Ratifies Appointment of ALJs and Lifts Stay on Pending Administrative Proceedings
The Securities and Exchange Commission (“SEC” or “Commission”) has issued an order clearing the way for cases to proceed before its ...
CMS Proposes Overhaul of the Medicare Shared Savings Program
The Centers for Medicare & Medicaid Services (“CMS”) has issued a proposed rule (the “Proposed Rule”) that would overhaul the Medicare ...
IRS Issues Guidance on UBTI Silos and Other UBTI-Related Tax Reform Provisions
In Notice 2018-67, issued August 21, 2018 (the “Notice”), the IRS has provided interim guidance – including rules on which tax-exempt ...
IRS Provides New Rules under Stricter $1 Million Tax Deduction Limit for Executive Compensation
In December 2017 Congress significantly broadened the Internal Revenue Code’s $1 million deduction limitation under Section 162(m) for compensation paid to top ...
Key Amendment to India’s Anti-Corruption Legislation Has Significant Implications for Multinationals Doing Business in India
In late July 2018, India’s parliament passed an amendment to the Prevention of Corruption Act 1988 (the "PCA"), India’s principal legislation ...
New Australian Modern Slavery Reporting Requirements on the Horizon – A Primer for Multinationals
Corporate modern slavery reporting requirements continue to proliferate. Two new Australian Modern Slavery Acts – one proposed by the federal government and the other adopted ...
The Federal Circuit Reverses Long Standing PTAB Precedent on the IPR Time Bar Exception
On August 16, 2018, the Federal Circuit overruled the Patent Trial and Appeal Board’s (“PTAB”) long-standing practice of accepting certain ...
Distributors Expose Health, Life Sci Cos. To FCPA Risks
This article by partner Mimi Yang, counsel Alison Fethke and associates Tina Yu, Grace Kim and Gabriella Stern was published by Law360 on August 14 ...
SEC Adopts Inline XBRL Requirements for Operating Companies and Open-End Funds
On June 28, 2018, the SEC voted 4-to-1 to adopt a final rule to require operating company financial information and fund risk/return ...
Trending Video: Forward Funding of Development Projects
Iain Morpeth, head of Ropes & Gray’s international real estate investments & transactions practice, discusses forward funding as a source of construction financing ...
New Disclosure Requirements for NFA Members Engaging in Virtual Currency Activities—Action Required
On August 9, 2018, the National Futures Association (“NFA”) announced that, effective October 31, 2018, NFA members are required to make additional disclosures ...
New Massachusetts Law Restricting Noncompetition Agreements
On August 10, 2018, Governor Charlie Baker signed into law a bill substantially limiting the use of noncompetition agreements in Massachusetts. The new Massachusetts Noncompetition ...
Patent Trial & Appeal Board (PTAB) to Give Patent Owners the Last Word
The U.S. Patent and Trademark Office has issued an update to its Trial Practice Guide. The update was published in the Federal Register today ...
The Impact of Scientific Data Administrative Measures on Foreign Companies in China
I. Introduction On March 17, 2018, the Chinese State Council passed the Scientific Data Administrative Measures (the “Measures”) to standardize the management of ...
Ropes & Gray’s Investment Management Update – June-July 2018
The following summarizes recent legal developments of note affecting the mutual fund/investment management industry: SEC Adopts Changes to Liquidity Risk Management Disclosure Items At ...
The Ropes Recap: Mergers & Acquisitions Law News
WELCOME TO THE NEW ROPES RECAP—our quarterly briefing of M&A news, trends and legal developments. We are thrilled to launch this ...