Page 43 - Client Alert News Today

The amendments aim to increase transparency and efficiency in the arbitral proceedings. Key Points: ..To increase transparency, parties must disclose “the ...

Recovering from a relatively slow start to the year, due in no small part to the global pandemic, the U.S. Foreign Corrupt Practices Act (“FCPA”) Units of the U.S. Department of Justice (“DOJ”) and Securities and Exchange Commission (“SEC”) closed the year with a bang. With 32 combined FCPA enforcement actions, 51 total cases including ancillary enforcement, and a record-setting $2.78 billion in corporate fines and penalties (plus billions more collected by foreign regulators), 2020...

To embed, copy and paste the code into your website or blog: Last week, on December 29, 2020, the Food and Drug Administration (“FDA”) published a notice setting the amount of new annual facility fees for both for over-the-counter (“OTC”) monograph drug product manufacturers and for OTC monograph drug product contract manufacturing organizations (“CMOs”). The annual facility fee for OTC monograph drug manufacturers – the so-called Monograph Drug Facility (“MDF”) fee – was se...

To embed, copy and paste the code into your website or blog: Expanded compliance obligations will have far-reaching implications for regulated financial institutions and most companies operating in the US. On January 1, 2021, Congress overrode President Trump’s veto and enacted the National Defense Authorization Act for Fiscal Year 2021, an omnibus bill that includes the Anti-Money Laundering Act of 2020 (the Act). The Act represents a significant development in US anti-money laundering laws....

To embed, copy and paste the code into your website or blog: The Coronavirus Response and Relief Supplemental Appropriations Act (CRRSA) was enacted on December 27, 2020. The new law, the federal government’s follow-up to the CARES Act, provides for renewed stimulus payments to individuals and businesses and includes significant provisions relating to the Paycheck Protection Program (PPP). This Client Alert provides an overview of those provisions. New PPP Loans CRRSA allocates approximately...

To embed, copy and paste the code into your website or blog: This Client Alert provides an overview of some of the key considerations EU and UK financial services firms may wish to consider following the announcement of the post-Brexit Trade and Cooperation Agreement (TCA), which, if ratified, will govern the EU and UK’s relationship with one another. This Client Alert may be updated as and when the TCA is ratified. If you would like to discuss any of the items mentioned above, in particular ...

On December 15, 2020, the Federal Deposit Insurance Corporation (“ Final Rule”) setting forth standards to apply to controlling shareholders of industrial banks that are not subject to consolidated supervision by the Board of Governors of the Federal Reserve System (“ Federal Reserve”). The Final Rule is substantially similar to the FDIC’s proposal announced March 17, 2020 (“ Proposed Rule”), and will take effect on April 1, 2021.   The Final Rule is prospective in the sense tha...

To embed, copy and paste the code into your website or blog: On December 16, 2020, the U.S. Department of Health and Human Services (HHS), Office for Civil Rights (OCR), announced that the Centers for Medicare & Medicaid (CMS) will disallow $200 million in federal Medi-Cal funding next quarter due to California’s refusal to stop imposing abortion coverage mandates on health plans and issuers. Each quarter CMS will disallow another $200 million in Medicaid Federal Financial Participation funds...

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To embed, copy and paste the code into your website or blog: The new rules are set to go in effect when the UK leaves the European Union on 31 December at 11 p.m. GMT. The United Kingdom’s transition period for withdrawing from the European Union is scheduled to end on 31 December 2020 at 11 p.m. GMT. Subject to certain exceptions (particularly regarding Northern Ireland), the UK will at that point no longer automatically implement EU laws — with important ramifications for the UK’s sanct...