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Decrease in HSR Reportability Thresholds and Other HSR Developments | Dorsey & Whitney LLP


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On February 2, 2021, the Federal Trade Commission (FTC) announced the annual adjustment of the thresholds that trigger premerger reporting obligations (and the mandatory waiting period) under the Hart-Scott Rodino (HSR) Act. The new thresholds will apply to transactions closing on or after March 4, 2021 (that is, 30 days after publication of the announcement in the Federal Register). This year, for the first time in a decade, the thresholds
decreased. Last month, the FTC also announced adjusted thresholds that trigger prohibitions on certain interlocking memberships on corporate boards of directors, which became effective immediately on publication in the Federal Register. Both sets of thresholds will remain in effect until the 2022 adjustments. In January, the FTC also announced the annual adjustment for maximum daily civil penalties for noncompliance with the HSR Act’s requirements. ....

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New Ownership Disclosure Requirements for Certain Federal High-Security Leased Space | Insights


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On Dec. 31, 2020, the president signed into law the Secure Federal Leases from Espionage and Suspicious Entanglements Act (Secure Federal Leases Act), Pub. L. 116-276. The Act imposes disclosure requirements regarding the foreign ownership, particularly “beneficial ownership” of prospective lessors of “high-security space” (i.e., property leased to the federal government having a security level of III or higher) as well as existing lessors of such space. The Act applies to any lease or lease novation entered into six months after the date of the enactment of the Act.
These requirements are applicable to leases by the U.S. General Services Administration (GSA), the Architect of the Capitol, “or the head of any Federal agency, other than the Department of Defense (DOD), that has independent statutory leasing authority” (Federal lessees). The Act is not applicable to DOD or to the intelligence community. In that regard, Section 2876 of the FY 2018 National D ....

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New Ownership Disclosure Requirements for Federally Leased Spaces


Wednesday, January 13, 2021
On Dec. 31, 2020, the president signed into law the Secure Federal Leases from Espionage and Suspicious Entanglements Act (Secure Federal Leases Act), Pub. L. 116-276. The Act imposes disclosure requirements regarding the foreign ownership, particularly “beneficial ownership” of prospective lessors of “high-security space” (i.e., property leased to the federal government having a security level of III or higher) as well as existing lessors of such space. The Act applies to any lease or lease novation entered into six months after the date of the enactment of the Act.
These requirements are applicable to leases by the U.S. General Services Administration (GSA), the Architect of the Capitol, “or the head of any Federal agency, other than the Department of Defense (DOD), that has independent statutory leasing authority” (Federal lessees). The Act is not applicable to DOD or to the intelligence community. In that regard, Secti ....

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