READ: SEC Enforcement Division Announcement On February 12, 2018, the SEC Division of Enforcement announced the Share Class Selection Disclosure Initiative self-reporting initiative (the SCSD Initiative) ...
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) has announced its 2018 examination priorities. The 2018 priorities provide insight into what activities OCIE believes present the highest risks to investors and, as such, what the examiners will be highlighting during their examinations of registered entities this year ...
As the new year started, two Department of Justice memoranda began circulating that may bring a change in the way the United States focuses its efforts in the FCA arena. The first, entitled, “Factors for Evaluating Dismissal Pursuant to 31 U.S.C ...
On February 7, 2018 the SEC Office of Compliance Inspections and Examinations (OCIE) issued the 2018 National Exam Program Examination Priorities. In introducing the examination priorities for 2018, OCIE describes the four pillars upon which the work of OCIE is based: promoting compliance; preventing fraud; identifying and monitoring risk; and informing policy. OCIE includes in the examination priorities factual data relating to the increase in examinations of investment advisers ...
IN THIS ISSUE: SEC Releases Update to 2018 Agenda of Regulatory Priorities The SEC Enforcement Division’s Initiatives Regarding Retail Investor Protection and Cybersecurity ENFORCEMENT ACTIONS: F-Squared Investment, Inc ...
Municipal Advisor Exam Results On November 7, the SEC’s National Examination Program issued a Risk Alert providing the SEC staff’s observations after conducting over 110 examinations of municipal advisors during the Municipal Advisor Examination Initiative ...
We previously reported on oral arguments before the Supreme Court regarding which court has original jurisdiction to hear challenges to the Clean Water Act’s “waters of the United States” (“WOTUS”) definition. On January 22, 2018, the Supreme Court issued a unanimous decision in National Association of Manufacturers v. Department of Defense that only district courts have original jurisdiction to hear such challenges ...
Personnel Season is fast approaching for county boards of education. Personnel offices are busy ensuring proper notices are sent to impacted employees, employees are afforded hearings before a reduction or transfer is acted upon by the board, and board of education agendas are legally compliant. At the same time, personnel offices are receiving early notice of year-end retirements from classroom teachers. W. V a ...
A new requirement will be introduced shortly that will affect all applications for employment visas. At the start of 2018, a Good Conduct and Behavior Certificate must be submitted along with the other supporting documents when an employer seeks to sponsor a residence visa for a new employee who is not a UAE national. It appears that the requirement will apply throughout the UAE, including the nation’s many free zones ...
On November 27, 2017, at the 34th International Conference on the Foreign Corrupt Practices Act (FCPA), Deputy Attorney General Rod Rosenstein announced a revised FCPA Corporate Enforcement Policy, which purports to lend certainty for companies grappling with the question of whether to voluntarily disclose violations. This new policy comes on the heels of the year and-a-half long FCPA Pilot Program ...
Sen. Cornyn (R-TX), along with co-sponsors Sen. Feinstein (D-CA), Sen. Burr (R-NC), Sen. Peters (D-MI), Sen. Rubio (R-FL), and Sen. Klobuchar (D-MN), introduced the “Foreign Investment Risk Review Modernization Act of 2017” (FIRRMA) November 8, 2017. This proposed bill, and a companion bill of the same name introduced in the House of Representatives by Rep ...
Why is April 2, 2018 Important? April 2, 2018 is the first day on which U.S. Citizenship and Immigration Services (USCIS) will accept H-1B specialty worker petitions for the next fiscal year beginning October 1, 2018 ...
Parents seeking to enroll their children in schools located in another county are required to comply with the statutory requirements of W. Va. Code 18-5-16(b) and WVDE Policy 7212. Step One: The parent must first obtain the consent of the sending county board and the receiving county board. The WVDE in the past has recommended parents make the requests to the sending and receiving counties at the same time. Step Two: The sending county must approve the request ...
The Philippine Department of Labor and Employment (DOLE) recently issued guidelines to address safety and health issues faced by workers who, by the nature of their work, have to stand or sit for long periods. The DOLE noted that the wearing of high heeled shoes and/or standing at work for long periods or even frequent walking lead to health issues such as strain on the lower limbs, aching muscles, hazardous pressure on the hip, knee and ankle joints and sore feet ...
The UK Corporate Governance Code (the Code) is undergoing a review by the Financial Regulatory Council (FRC) in the UK. A consultation process was announced by the FRC earlier this year, with a view to making changes to the Code to reflect the changing business environment in the UK ...
The Minister of State in the Department of Justice and Equality, Mr. David Stanton, has expressed an intention to bring forward the long awaited Gambling Control Bill (the GCB) by the end of 2017. The Government's Legislation Programme for Autumn 2017 notes that work is underway on the GCB. However, there has been no further information on when the draft of the GCB will be published, which is the next substantive step ...
The national competition authorities in South Eastern Europe are evidently increasing and strengthening their cross-border cooperation and communication, allowing for a more effective regional approach in the protection of competition. Taking into account common challenges and economic interdependence, as well as similar goals in EU integration, the authorities appear to have recognized significant merit in a broader regional framework for competition enforcement ...
The Sixth Circuit Court of Appeals recently affirmed dismissal of an FCA complaint that failed to meet the FCA’s stringent pleading requirements. See United States ex rel. Ibanez v. Bristol-Myers Squibb Co., No. 16-3154, 2017 U.S. App. LEXIS 21328 (6th Cir. Oct. 27, 2017) ...
Californians diverting water should take notice of new measurement and reporting requirements with quickly approaching deadlines. Water right holders diverting between 10 and 100 acre-feet per year have until January 1, 2018, to either (1) install and maintain a measurement device, (2) employ a measurement method capable of measuring the rate of diversion, or (3) submit an alternative compliance plan ...
The term “dawn raid” refers to an unanticipated visit to commercial premises by a regulatory authority. Examples of this could include a squad of policemen entering a warehouse, a team from a financial-services regulator checking trading records at a bank, or an official from the UAE Ministry of Human Resources and Emiratisation entering your office to check the work permits of all employees present there (an increasingly common practice) ...
The revised Phase 2 Requirements of Participation for long-term care facilities will go into effect November 28, 2017. While multiple provider groups have requested a delay of some of the rule's provisions to allow time for additional revisions, officials at the Centers for Medicare and Medicaid Services ("CMS") have indicated that they will not act on those requests at this time and plan to move forward with the November 28, 2017, implementation date for Phase 2 ...
More hotels are imposing mandatory “resort fees” on their guests for amenities, and the amount of those fees is increasing at many of those hotels. Many consumers dislike these fees, even when they appreciate the value of the included amenities. A legal battle is underway over mandatory resort fees ...
The California Office of Environmental Health Hazard Assessment (OEHHA) announced on November 9, 2017 that it was adding two widely used perfluorinated chemicals to the Proposition 65 list of chemicals known to cause reproductive toxicity: perfluorooctanoic acid (PFOA) and perfluorooctane sulfonate (PFOS) ...
Simonsen Vogt Wiig and lead counsel Anders Thue represented Fosen-Linjen AS (a ferry operator) against AtB AS before the EFTA Court. AtB organises the public transportation in one of the Norwegian counties. In its judgment delivered earlier this year (in Case E-16/16), the EFTA Court replied to questions referred to it by the Frostating Court of Appeal (Frostating lagmannsrett) ...
A common question our Education Law Group receives is, “Can an employee rescind his or her written resignation that has been submitted to the superintendent and is waiting on approval from the board of education?” Unfortunately the question often arises frequently in situations where the employee is not the “best employee” and administration feels thankful upon receipt of the resignation ...
