Ropes & Gray’s Investment Management Update June – July 2022
June – July Alerts on Regulatory Actions Since our prior Investment Management Update, we have monitored a number of significant SEC actions affecting the mutual ...
Proposed Senate Legislation Would Impose Corporate Minimum, Excise Taxes; Increase Funding for IRS
On August 7, 2022, the Senate passed the Inflation Reduction Act of 2022 (the “Act”) that, among other provisions: Establishes a new 15 ...
State Regulation of ESG Investment Decision-making by Public Retirement Plans: An Updated Survey
Last year, Ropes & Gray published an Alert that described the different approaches states were considering (or had implemented in several cases) regarding the regulation ...
FY 2023 Hospital IPPS/LTCH PPS Final Rule
On August 1, 2022, CMS released the final rule for the federal fiscal year (“FY”) 2023 inpatient prospective payment system (“IPPS ...
Further EU and UK Developments in Financial Crime Regulation of Cryptoassets
While cryptocurrency markets have been experiencing significant fluctuation in value and stability, regulators have continued progressing proposals to further regulate virtual assets and virtual asset ...
Proposed Senate Legislation Would Limit Capital Gain Treatment for Carried Interests
On July 27, 2022, Senate Democrats announced proposed legislation, the Inflation Reduction Act of 2022 (the “Act”), that includes a proposal (the ...
The SEC’s Proposed Climate Disclosure Rules – Comment Letter Stats
In March, the SEC proposed rules that would mandate enhanced climate-related disclosures by public companies. These rules arguably would be the most significant new ...
CMS Publishes Calendar Year 2023 Hospital Outpatient Payment Proposed Rule and Addresses 340B Drug Payments, Organ Acquisition Costs, Pandemic Related Payment Changes, Rural Hospitals
On July 26, 2022, the Centers for Medicare & Medicaid Services (“CMS”) published in the Federal Register its annual proposed rule for the ...
DOL Proposes Stricter Requirements for All Managers Relying on the Qualified Professional Asset Manager (QPAM) Exemption
On July 27, 2022, the U.S. Department of Labor (DOL) published in the Federal Register a proposed amendment to the qualified professional asset manager ...
Latest Post-Brexit UK regulatory development on medical devices and in vitro diagnostic medical devices: UK Government Response to the future UK regulatory framework
On 26 June 2022, the Medicines and Healthcare products Regulatory Agency (the “MHRA”) published the Government’s response (the “Response ...
Proposed Overhaul of EU Regulation of Substances of Human Origin
Introduction In recent decades, technologies and medical treatments involving substances of human origin (‘SoHOs’) have proliferated and undergone significant advancements, improving their potential ...
Russia/Ukraine Crisis: U.K. and E.U. Impose Further Sanctions on Russia and Belarus and Issue Clarifications
This Alert was originally published on July 25, 2022. It was updated on July 29, 2022. In response to Russia’s continued military ...
Private Equity International Features Insights from Ropes & Gray on Dealmaking in Japan
Private Equity International’s 2022 special report on Japan featured insights from Ropes & Gray on dealmaking trends. In a Q&A feature ...
SEC Reverses its 2020 Amendments to the Proxy Rules Governing Proxy Voting Advice; Rescinds Supplemental Guidance on the Proxy Voting Responsibilities of Advisers
As described in this Ropes & Gray Alert, on July 22, 2020, the SEC adopted amendments to its rules governing proxy solicitations and the filing ...
SEC Proposes to Amend Rule 14a-8 Shareholder Proposal Provisions Regarding Substantial Implementation, Duplication and Resubmission
Rule 14a-8 under the Exchange Act requires issuers that are subject to the federal proxy rules to include shareholder proposals in their proxy statements ...
China Promulgates New Implementing Rules to Facilitate Cross-Border Transfers of Data
Background On July 7, 2022, the Cyberspace Affairs Commission (“CAC”) of China issued the Measures on Security Assessment of Cross-Border Data ...
DOJ Unveils Enforcement Actions in Connection with Alleged Cryptocurrency Fraud
On June 30, 2022, the Department of Justice (“DOJ”) announced four enforcement actions involving allegations of fraud in the cryptocurrency space. The enforcement ...
Privacy of Health Information Post-Dobbs and OCR Guidance on the Protections Afforded under HIPAA
Introduction On June 24, 2022, the Supreme Court issued its opinion in Dobbs v. Jackson Women’s Health Organization, overturning precedent that protected access ...
Ropes & Gray Crypto Quarterly: Digital Assets, Blockchain and Related Technologies Update
Click here to read the full Newsletter. The landscape of government enforcement, private litigation, and federal and state regulation of digital assets, blockchain and related ...
Ratings Firm Scrutiny of Modern Slavery Risks Increases – ISS ESG Launches New Modern Slavery Scorecard
Last month, ISS ESG, the responsible investment arm of Institutional Shareholder Services, introduced its Modern Slavery Scorecard. The Scorecard evaluates 25 quantitative and qualitative factors ...
Federal Court Orders New Trial to Consider Whether Cryptocurrency Constitutes a “Security”
A federal court recently rejected a jury’s verdict concluding that a disputed digital asset was not a security, and ordered a new trial ...
The TASK Act – Proposed Disclosure Requirements for Public Companies Relating to Xinjiang Labor and Other China Activities
The forced labor presumption in the Uyghur Forced Labor Prevention Act took effect on June 21. While that Act garnered significant attention from the time ...
Top five things you need to know about software deals before the UK’s Competition and Markets Authority (“CMA”)
While the CMA unconditionally clears the vast majority of software deals at Phase I, 50% (3) of the CMA’s active Phase II investigations ...
Supreme Court Overturns Reduction in Reimbursement for Outpatient Drugs Purchased by Hospitals Under 340B Program
On June 15, 2022, a unanimous United States Supreme Court decided in favor of the American Hospital Association (“AHA”) in its challenge to ...
The IRS As “Golden Creditor:” The Past Isn’t Dead (It Isn’t Even Past)
To paraphrase two out of fashion economic observers: There is a spectre haunting the market—the spectre of recession. And inasmuch as inflation was ...