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To embed, copy and paste the code into your website or blog: On April 27, 2021, President Biden issued Executive Order 14026 requiring contractors to pay a minimum wage of $15.00 per hour beginning January 30, 2022, on contracts entered into, contracts renewed or extended, and options exercised on or after January 30, 2022.   The new Executive Order is patterned on a February 12, 2014, Executive Order issued by President Obama which affected the same group of workers, and increased the then minimum wage for federal contract employees to $10.10 (a redline is here). Implementing Regulations ar...

  For what seemed like an eternity (okay, just a couple years), the California Consumer Privacy Act was the only game in town when it came to state-level, comprehensive privacy legislation. Sure, we saw many other states introduce similar bills, and Washington got close a couple times to passing the Washington Privacy Act. Those all died on the vine, however. In fact, California was the only state after itself to see passage of anything really big, with the California Privacy Rights Act (which amends the CCPA, and is not a separate, new law) gaining passage in the November 2020 election. Al...

III. To Whom Does the Executive Order Apply?    The ban on transactions applies to “any United States person,” which is defined as “any United States citizen, permanent resident alien, entity organized under the laws of the United States or any jurisdiction within the United States (including foreign branches), or any person in the United States.”  That means that hedge funds and fund managers organized in the United States are subject to the Executive Order, as well as U.S. branches of foreign entities.  The question of whether an entity is a “U.S. person,” is a fact-intensi...

Tuesday, February 2, 2021 On November 12, 2020, the Trump Administration issued an Executive Order prohibiting U.S. persons from trading securities and related derivatives in “Communist Chinese Military Companies” (CCMCs), effective 60 days later on January 11, 2021, and then extended to January 28, 2021.  The Order, which was amended on January 13, 2021, prohibits U.S. persons from “any transaction in publicly traded securities, or any securities that are derivative of, or are designed to provide investment exposure to such securities” of a CCMC.  Under the Amended Or...