As a part of Federal agencies’ issuance of their semi-annual Spring 2023 Regulatory Agenda, the CFPB has published its Spring 2023 Agency Rule List (“2023 List”). In that List, the CFPB has set forth the status of its present rulemaking activities and its plans for such activities in the next 6 months ...
From recovering after a global pandemic to the war in Ukraine, the collapse of Silicon Valley Bank to soaring inflation, and supply-chain delays to employee shortages, businesses across all sectors are coming up against a number of operational and liquidity challenges in current market conditions. Despite these challenges, we have seen confidence and resilience across all sectors with investment from seed to IPO ...
The National Labor Relations Board (“NLRB”) reinstated the test established in FedEx Home Delivery (FedEx II), lessening the requirements for a worker to be considered an employee and not an independent contractor. The decision in The Atlanta Opera, Inc., issued on June 13, 2023, overruled the 2019 SuperShuttle decision, opting to return to “common-law principles ...
On June 1, 2023, the Consumer Financial Protection Bureau along with Federal Reserve, OCC, FDIC, NCUA and FHFA (collectively, the “Agencies”) issued a Notice of Proposed Rulemaking seeking comment on rules to implement quality control standards for automated valuation models (AVMs) used by residential mortgage originators and secondary market issuers in determining the collateral worth of a mortgage loan that is secured by a consumer’s principal dwelling ...
The purpose of disclosing conflicts of interest in the investment services industry is to ensure maximum transparency for the investor. A common conflict of interest is the situation when the fund’s investment manager owns voting shares in the fund and appoints a director who is already heavily involved in the investment manager’s structure. Consequently, the appointed director might be conflicted if one is required to take a decision against the investment manager ...
On May 15, 2023, the Chilean Congress approved the Bill that Systematizes Economic Crimes and Attacks against the Environment (the "Bill"). Therefore, the Bill was sent to the President for its enactment into law, although it is subject to the preventive control that must be carried out by the Constitutional Court. During this period, the Executive has a deadline to exercise veto power over the bill prior to its enactment into law ...
We all know the feeling of making an online purchase and later regretting it - did I really need another kitchen gadget that I'll probably only use once? Luckily, by way of the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, which form part of retained EU law, consumers in the UK have the right to a "cooling off period" for distance contracts in certain circumstances ...
When initially approaching potential lenders it’s important to be clear about the level of flexibility you’ll need in your finance documents in order to accommodate future plans and aspirations. Amending documents and renegotiating terms is a huge drain on resources (and in current climes, costly) and your aim should be to ensure financing terms will remain fit for purpose throughout their term ...
Net migration figures from the Office for National Statistics (ONS) for the year ending December 2022 show an increase on figures from the previous year. Taking a closer look into the categories of migration behind the net figures gives further insight as to why the target to reduce net migration figures are not being met. These figures show that total immigration into the United Kingdom for 2022 was in the region of 1.2 million with emigration counted at approximately 557,000 ...
June marks ‘Pride Month’ which celebrates how far LGBTQ+ rights have come whilst also highlighting the work that still needs to be done. We consider how allies and effective employee networks can assist in this supporting ongoing progress. Employee networks are voluntary, employee-led groups aimed at providing support, resources and a sense of community for employees who may share a common identity or experience ...
Fertility is not only a ‘women’s issue’ - the impact of infertility on men can be enormous, yet regularly goes unnoticed. In light of Men’s Health Week and Father’s Day, we look at improving support for men who are experiencing fertility issues. When it comes to infertility, research and support predominantly centres around the perspectives of women ...
In a recent survey conducted by Fertility Network UK, 40% of patients undergoing fertility treatment admitted to experiencing suicidal feelings, with the majority feeling that they would benefit from counselling. Sadly, this support is not readily available and reportedly only half of those in need have access. Often, the only option is to go private, but with sessions estimated to be between £10-£70 per session, that is not always feasible for everyone ...
The Procurement Bill has now had its third and final reading and has passed the Report Stage in the House of Commons. The House of Commons’ latest amendments that have been added to the Bill include the following: If a supplier or a connected person poses a threat to the national security of the UK, this would be a mandatory exclusion ground. This is a change from previous versions of the Bill which classed this exclusion ground as discretionary ...
Good governance counts because without it a charity’s impact can be much diminished, but it is also important not to be overwhelmed by all the detail and to focus on what matters. There is a lot of guidance on governance for charities Someone once said, “With proper governance, life will improve for all ...
A Bill’s fate is never sealed until it has been through all the necessary approval stages and the Retained EU Law (Revocation and Reform) Bill is no exception. Whilst numerous concerns have been raised about the speed and impact of the Bill, there were comparatively few amendments made to it as it sped through the Commons ...
We look at the legal framework within which the dispute between the UK Covid-19 Inquiry and the Cabinet Office over the former Prime Minister’s WhatsApp messages and diaries has developed, and possible consequences for the Inquiry depending on the outcome. What has the Cabinet Office been asked to provide? On 21 April 2023, Baroness Heather Hallett, Chair of the UK Covid-19 Inquiry (‘the Inquiry’) issued a Section 21 Notice to the Cabinet Office (‘the Notice’) ...
On 17 May 2023, the Belgian Medicines Agency (FAMHP) announced that marketing authorisation holders (MAHs) have three years to comply with the prohibition of “negative formulations” on the packaging of medicinal products for human use. Such negative formulations include “gluten-free”, “lactose-free”, “ethanol-free” or “no colourings” ...
We are pleased to let you know that on 07 June 2023 the Russian parliament approved the draft law allowing the shareholders of small and medium-size enterprises to liquidate their business within a simplified procedure ...
The President of the Russian Federation instructed the Government to consider the opportunity of granting clearance for the sale of Russian legal entities controlled by “unfriendly” entities only with the consent of senior officials of the Russian regions where such entities are located. The Government should issue a report on this matter by June 15, 2023 ...
The SEC has published its final rule for the modernization of share repurchase disclosures. The final rule will require additional details of an issuer’s share repurchase activity. Unlike the previous requirements for share repurchase reporting, the final rule will require daily repurchase data, reported either quarterly or semi-annually, and eliminates the previous requirement for the publication of an issuer’s repurchase data by month in its 10-Qs and 10-Ks ...
In an opinion issued on June 5, 2023, the Federal Circuit provided a useful framework for overcoming obviousness rejections during patent prosecution, where a proposed modification to a prior art reference renders it unsatisfactory for its intended purpose.[1] Appropriately applying this framework may provide a strong position against a motivation to combine references, or otherwise modify a prior art device in an obviousness rejection. In Medtronic, Inc. v. Teleflex Innovations S.A.R.L ...
June 12, 2023 By: Michael Flynn On May 30, 2023, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) from the public focusing on “issues faced by tenants in multifamily properties, and on any opportunities and potential impacts associated with requiring or encouraging specific tenant protections at multifamily properties backed by Fannie Mae and Freddie Mac.” Written input and feedback from the public is due by July 31, 2023 ...
