The intersection of law and politics has always had a significant impact on regulations for multinational companies. From data privacy laws to international trade to global enforcement trends, the interplay of these regional laws and regulators is a key priority for many businesses. Enforcement trends from the US Department of Justice, Securities and Exchange Commission, and Food and Drug Administration, as well as state attorneys general, international regulatory and antitrust bodies, and others, will serve as a key roadmap for companies navigating uncertain waters. These actions will likely increase as COVID-19 restrictions slowly recede.
The education industry, like many others, saw a fundamental shift in 2020 as remote learning challenged some of the long-held traditions of institutions, educators, and related companies. From federal support of reopening in-person classes to changes in college athletics to overall financial challenges, here are some of the trends we could see defining the industry for the rest of 2021.
The Commodity Futures Trading Commission (CFTC) announced last week that it has obtained another admission from a trader of violations of the Commodity Exchange Act and CFTC regulations, demonstrating its continued aggressive enforcement of its market anti-manipulation provisions.
With the recent passage of the COVID-19 stimulus package, President Joseph R. Biden, his administration, and Congress have turned their attention to long-term economic recovery, deficit reduction, and tax reform. Proposals cover a broad range of tax policy issues, from raising the corporate income tax rate to reforming the current international tax regime. This LawFlash summarizes key elements of some of the tax reform proposals that have recently emerged.
There has been an increasing focus in recent years on the intersection of ERISA’s fiduciary duties and the issues of cybersecurity and data (including participant data) protection. Beyond the potential for pecuniary and reputational harm due to a breach, this interest has been driven by an increasing number of lawsuits in which plaintiffs allege that a plan fiduciary and/or service provider breached ERISA by failing to protect against a cybersecurity attack or data breach.
Following Brexit, EU competition law continued to apply in the United Kingdom until 31 December 2020 as part of an agreed Transition Period. In this LawFlash, we summarise how the end of the Transition Period is likely to impact the enforcement of competition law in the United Kingdom going forward, the extent to which UK competition agencies and courts are free to diverge from EU principles and case law, and our initial thoughts on the future landscape of competition law in the United Kingdom.
States and localities across the country are continuing to respond as quickly and effectively as possible to the coronavirus (COVID-19) outbreak. These responses include guidance for taxpayers on numerous topics, such as providing tax relief through filing and payment deadline extensions.
The American Rescue Plan Act of 2021 (ARPA) provides $1.9 trillion in relief funding to address the COVID-19 pandemic, support the US economy, and provide relief for impacted Americans. Signed into law by President Joseph R. Biden on March 11, 2021, ARPA includes provisions affecting healthcare providers, who remain on the frontlines of the pandemic as the new law takes effect.
Partners Carl Valenstein and Celia Soehner authored a Bloomberg Law Insight column about the need for companies to be cautious and exact when they are drafting mandatory or voluntary environmental, social, and governance (ESG) disclosures. In the piece, they outline the US Securities and Exchange Commission’s areas of focus and best practices for developing an ESG program and disclosures.
In a recent Law360 article, partner Eleanor Pelta discussed the expiration of the Trump administration’s Proclamation 10052 and the benefits the expiration presents multinational companies. "
Morgan Lewis partner Eleanor Pelta was quoted in a Bloomberg Law article about the visa application backlog caused by the COVID-19 pandemic. In the piece, she discussed the economic ramifications.
Partner Christine Lombardo was quoted in the first of a two-part series by Hedge Fund Law Report, which looks at the new US Securities and Exchange Commission (SEC) Marketing Rule “through the eyes of private fund managers.” The article examines important changes that have been made to the amendments that were originally proposed.
Partner Dennis Gucciardo was quoted in a MedTech Dive article about the outlook for the US Food and Drug Administration (FDA) under the Biden administration. Dennis noted that companies can expect an increase in “for cause” FDA inspections. "Under the Trump administration, we didn't really see that kind of activity unless there was a public health threat," he said.
Partner Dennis Gucciardo spoke with BioWorld about the hurdles medtech companies will likely face while converting their emergency use authorizations (EUAs) to conventional premarket filings.
Morgan Lewis partner Christine Lombardo was quoted by Hedge Fund Law Report in an article about the US Securities and Exchange Commission’s (SEC’s) modernized marketing rule. The new single “Marketing Rule” replaces the current Cash Solicitation Rule and Advertising Rule.
Morgan Lewis partner Greg Parks spoke with Compliance Week for an article about Virginia’s Consumer Data Protection Act.
Morgan Lewis partner Matt Miner commented on the findings of the US Justice Department’s (DOJ) Criminal Fraud Section’s Year in Review in a Law360 article breaking down the DOJ analysis.