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June 2014 Client Alerts

Practice groups throughout Bryan Cave often prepare alerts on issues of interest to our clients and friends. Listed below are the Client Alerts published in June 2014.  Please click on the title to read the full text of the Alert.

Supreme Court Holds Bare Allegation of Improper Purpose Does Not Entitle a Taxpayer to Examine IRS Officials, published by the Tax Advice and Controversy practice group on June 20, 2014.

District Judge Expands the Reach of Dodd Frank Retaliation Protections, published by the White Collar Defense and Investigations, Securities Litigation and Enforcement, Labor and Employment, Broker-Dealer Litigation, Arbitration and Regulatory practice groups on June 3, 2014.

Breaking News:  Second Circuit Reverses Rakoff Decision Rejecting SEC Settlement, Holds That Requiring Admissions was Abuse of Discretion, published by the White Collar Defense and Investigations, Securities Litigation and Enforcement and Investment Management practice groups on June 4, 2014.

SEC Settles First Whistleblower Anti-Retaliation Case, published by the White Collar Defense and Investigations, Securities Litigation and Enforcement and Labor and Employment practice groups on June 19, 2014.

Small Business Administration Issues Proposed Rule That Would Establish a Safe Harbor From Fraud Penalties for a Business That Acted in Good Faith in Incorrectly Representing the Firm as Being Small,  published by the Government Contracts practice group on June 26, 2014.

Ninth Circuit Issues Two Decisions Upholding Class Action Waivers in Employment Agreements, But Interplay with California Supreme Court Remains an Open Question,  published by the Labor and Employment and Commercial Litigation practice groups on June 27, 2014.

Securities Defendants Will Have New Tool To Use in Opposing Class Certification But Fraud-On-The-Market Theory Survives under Supreme Court Decision,  published by the Class and Derivative Actions and Securities Litigation and Enforcement practice groups on June 23, 2014.

California Supreme Court Affirms Use of Class Action Waivers in Arbitration Agreements, published by the Labor and Employment practice group on June 24, 2014.

Shifting Trends:  Privacy & Security Class Action Litigation, published by the Data Privacy and Security Team on June 11, 2014.

SEC to Give Credit For Self-Reporting Certain Municipal Offering Violations, published by the Broker-Dealer Litigation, Arbitration and Regulatory practice on June 18, 2014.

Whither Demand Response in Wholesale Electric Power Markets?, published by the Energy and Natural Resources practice group on June 2, 2014.

FINRA Cracks Down on Use of Consolidated Reporting,  published by the Broker-Dealer Litigation, Arbitration and Regulatory Practice on June 23, 2014.

Supreme Court Rejects Federal Circuit’s “Insolubly Ambiguous” Standard for Indefiniteness, published by the Intellectual Property practice group on June 3, 2014.

U.S. Supreme Court Allows Private Lanham Act Suits Against Product Labels Otherwise Compliant With Federal Law, published by the Antitrust and Competition practice, Food and Beverage Team and Intellectual Property practice on June 12, 2014.

U.S. Supreme Court Invalidates Alice Corp’s Software Patent Claims, published by the Intellectual Property practice group on June 20, 2014.

U.S. Supreme Court Rejects Divided Infringement of Method Claims in Limelight v. Akamai, published by the Intellectual Property practice group on June 3, 2014.

IRS Announces Changes to Offshore Voluntary Disclosure Program, published by the Tax Advice and Controversy practice group on June 20, 2014.

EPA Extends Comment Period For Proposed Clean Water Act Jurisdictional Regulations, published by the Environmental practice group on June 30, 2014.

EPA’s Proposed Clean Power Plan Regulations:  Structure and Impacts, published by the Environmental group on June 6, 2014.

Missouri Supreme Court Holds That Statutes of Limitations Are Not Tolled by Putative Class Action Lawsuits Filed Outside of Missouri, published by the Class and Derivatives Actions practice group on June 25, 2014.

Reminder:  Increase in California Minimum Wage Effective July 1, 2014, published by the Labor and Employment practice group on June 24, 2014.

EU Proposes Greater Transparency of Beneficial Ownership,  published by the White Collar Defense and Investigations practice group and Global Anti-Corruption/Foreign Corrupt Practices Act Team on June 26, 2014.

Significant Competition/Antitrust Fines in Europe Sound the Alarm for Private Equity Over Liability for Their Portfolio Companies,  published by the Antitrust and Competition and Private Equity groups in London and Frankfurt on June 19, 2014.

Australia Imposes Targeted Ukraine-Related Sanctions on 50 Individuals and 11 Entities, published by the White Collar Defense and Investigations practice group on June 19, 2014.

The French Blocking Statute:  Effective Protection Against Cross-Border Discovery?, published by the Commercial Litigation and Class and Derivative Actions practice groups on June 19, 2014.

Canada Charges 3 Foreign Nationals with Bribery of Foreign Officials, published by the Global Anti-Corruptions/Foreign Corrupt Practices Act Team on June 6, 2014.

EU Makes It Easier for Creditors to Recover Cross-Border Debts in the EU in Civil and Commercial Matters, but Has the UK Missed a Trick?, published by the London Commercial Litigation practice group on June 5, 2014.

EU and Competition Law Update — June 2014, published by the European Antitrust and Competition practice groups on June 9, 2014.

Thailand:  Is a Coup d’etat Force Majeure?published by the Hong Kong Commercial Litigation group on June 6, 2014.

Clarification of the Approach to Non-Arbitrable Claims — Silica Investors v Tomolugen Holdings (Singapore High Court), published by the International Arbitration practice group on June 4, 2014.

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March 2014 Client Alerts

Practice groups throughout Bryan Cave often prepare alerts on issues of interest to our clients and friends. Listed below are the Client Alerts published in March 2014.  Please click on the title to read the full text of the Alert.

The Evisceration of Attorney-Client Privilege for In-House Investigations?  District Court Rules that Internal Investigations Conducted Pursuant to Regulatory Law and Corporate Policy are Not Protected by Attorney-Client Privilege or the Work-Product Doctrine, published by the White Collar Defense and Investigations, Securities Litigation and Enforcement, and Government Contracts Client Service Groups, March 17, 2014.

Supreme Court Holds Severance Payments Subject to FICA Taxation, published by the Tax Advice and Controversy practice group, March 26, 2014.

Will the Supreme Court Curtail Securities Fraud Lawsuits This Term? published by the Broker-Dealer Litigation, Arbitration and Regulatory Practice and Investment Management groups, March 26, 2014.

Managing Legal Risks:  Trends in Mobile, Text Message, Fax and Telephone TCPA Class Action Litigation, published by the Data Privacy and Security Team, March 5, 2014.

SOX Whistleblower Protections Extend to Employees of Contractors and Subcontractors of Public Companies, published by the Labor and Employment Client Service Group, March 6, 2014.

A Significant Change is Occurring Regarding Regulatory Oversight of Banks and Their Third Party Relationships.  Both Banks and their Vendors must pay attention, published by the Financial Services Client Service Group,  Prepaid and Emerging Payments Team, March 25, 2014.

US and EU Impose Economic Sanctions in Response to the Crisis in Ukraine (IRB No. 519), published by the International Trade group  CIS Team, March 7, 2014.

U.S. Supreme Court Limits Scope of SLUSA’s Preclusion of Securities Class Actions for Violations of State Law Where Fraudulent Scheme Did Not Directly Involve Plaintiffs’ Purchase or Sale of “Covered”  Securities, published by the Class and Derivative Actions and Securities Litigation and Enforcement practice groups, March 7, 2014.

San Francisco Passes “Ban the Box” Ordinance, published by the Retail practice group, March 20, 2014.  Employers will not longer be able to ask about applicants’ criminal records.

Tax News and Developments (Winter 2013-2014), published by the Tax Advice and Controversy Client Service Group, March 21, 2014.

Reminder:  File Protective Refund Claim by April 15, 2014 for Severance Payments Made During 2010, published by the Tax Advice and Controversy Client Service Group, March 19, 2014.

Continued Expansion of U.S., EU and Canadian Sanctions on Russian Entities and Individuals in Response to Events in Crimea, published by the International Trade group and CIS Team, March 24, 2014.

US and EU Impose Economic Sanctions in Response to the Crisis in Ukraine (IRB No. 519), published by the International Trade group  CIS Team, March 7, 2014.

Whistleblowing Procedures:  The French Data Protection Authority Widens the Scope of Authorized Data Processing, published by the Data Privacy and Security team (Paris), March 3, 2014.

Retention of Title Clauses – Seller Beware!, published by the Energy and Natural Resources practice group (Asia), March 25, 2014.  The English Court of Appeal decision in Caterpillar v John Holt & Company, and its analysis of “retention of title” and “no set-off” clauses, will be of interest to commodity traders, compliance officers and legal counsel in industries dealing with energy and natural resources internationally.

UK Labor and Employment Bulletin – March 2014, published by the London Labor and Employment practice group, March 20, 2014.

EU & Competition Law Update – March 2014, published by the Antitrust and Competition group, March 14, 2014.

LCIA Rules 2014 – Final Draft Released, published by the International Arbitration group, March 12, 2014.

 

 

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December 2013 – Bryan Cave Client Alerts

Client Service Groups across the Firm often prepare Alerts on issues of interest to our clients and friends.  Listed below are the Alerts published in December, 2013.   Please click on the title to read the full text of the Alert.

New SEC Guidance on Bad Actor Rules, published by the Fund Formation Team, December 20, 2013

IRS Issues New Guidance on In-Plan Roth Rollovers, published by Employee Benefits and Executive Compensation, December 18, 2013

Tips and Traps for Taking Current Year Deductions for Bonus Programs Fixed by End of Year, published by Tax Advice and Controversy, December 20, 2013

Tax News and Developments – Fall 2013, published by Tax Advice and Controversy, December 20, 2013

IRS Publishes Proposed Regulations Determining Partner’s Share of Recourse Liabilities, published by Tax Advice and Controversy, December 26, 2013

Supreme Court Clarifies Law on Forum Selection Clauses:  Choice of Forum in Contract Should be Enforced Absent “Extraordinary Circumstances,” published by Commercial Litigation, December 23, 2013

Fifth Circuit Reverses ‘D.R. Horton’ in Another Decision Upholding Class Action Waivers, published by Class and Derivative Actions, December 17, 2013

Second Circuit Rules continuing Interest Payments are Not in Furtherance of a Conspiracy; Do Not Extend Statute of Limitations, published by White Collar Defense and Investigations and Securities Litigation, December 11, 2013

Department of Defense Imposes New Cybersecurity Requirements on its Contractors and Subcontractors, published by National Security, December 20, 2013

New Milestone:  China (Shanghai) Pilot Free Trade Zone Opens (IRB No. 515), published by International Trade, December 18, 2013

The Introduction of Class Actions in French Law:  Second Reading of the Bill by the French National Assembly, published by the Commercial Litigation, December 17, 2013

Foreign Companies Beware:  U.S. FCPA Enforcers Will Pursue You, published by the Global Anti-Corruption/Foreign Corrupt Practices Act Team, December 17, 2013

European Commission Announces Streamlined EU Merger Notification Process, published by Antitrust and Competition, December 11, 2013

Who You Gonna Call? — the Singapore DNC Registry Opens for Registrations, published by the Data Privacy and Security Team, December 9, 2013.

EU Competition Law Update – December 2013, published by Antitrust and Competition, December 9, 2013

PT First Media v Astro Nusantara:  A cautionary tale on the enforcement of arbitral awards and joinder of third parties, published by International Arbitration, December 2, 2013

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February 2014 – Bryan Cave Client Alerts

Practice groups throughout Bryan Cave often prepare alerts on issues of interest to our clients and friends.  Listed below are the client alerts published in January 2014.  Please click on the title to read the full text of the Alert.

Voluntary for Now:  Federal Cybersecurity Framework Likely to Become the Base-Line Requirement for Critical Infrastructure Organizations and, Potentially, Many Other Businesses, published by the National Security Data Privacy and Security Team, February 20, 2014.

Managing Legal Risks:  Trends in Data Privacy & Security Class Action Litigation, published by the Data Privacy and Security Team, February 27, 2014.

Bankruptcy Court Limits Credit Bid Right In An Unnecessarily “Rushed” Sale Process, published by the Bankruptcy, Restructuring and Creditors’ Rights Practice, February 14, 2014.

Proposed Regulation Would Limit Ability to Restrict Public Disclosure of Product Information Submitted to the CPSC, published by the Consumer Protection and Data Privacy Practice, February 27, 2014.

FINRA Levies Record Fine for AML Violations, published by the Securities litigation and Enforcement and White Collar Defense and Investigations Practice Groups.

FINRA’s Sweep Letter Targets Cybersecurity, published by the Broker-dealer Litigation, Arbitration and Regulatory Practice, February 10, 2014.

Managing Legal Risks:  Trends in Advertising Class Action Litigation (2013 Year-In-Review), published by the Consumer Protection and Data Privacy and Class and Derivative Actions Practice Groups, February 18, 2014.

DINP Listed as Carcinogen Under Prop. 65, published by the Retail Team, February 28, 2014.

OCIE’s “Never-Before Examined Initiative,” published by the Broker-Dealer Litigation, Arbitration and Regulatory Practice.

Attorney-Client Privilege in FCPA Investigation Nullified Based on Crime-Fraud Exception, published by the White Collar Defense and Investigations, Internal Trade, Global Anti-Corruption/Foreign Corrupt Practices Act Team, February 25, 2014.

Yet Another List to Check:  the Foreign Sanctions Evaders (IRB No. 518), published by the International Trade Group, February 21, 2014.

A Year in the Garden, published by the London labor and Employment Practice, February 19, 2014.

EU & Competition Law Update – February 2014, published by the European Antitrust and Competition Practice, February 10, 2014.

PRC Labor Activity Issues Interim Provisions on Labor Dispatch, published by the Asian Labor and Employment International Practice, February 25, 2014.

The Introduction of Time Limits in Works Council Consultations:  An Attempt at Streamlining Employer-Employee Relations, published by the Paris Labor and Employment Practice, February 3, 2014.

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February 2012 Client Alerts

FINRA Issues Guidance on Protection of Customer Accounts

A recent alert from the Financial Industry Regulatory Authority (“FINRA”) is encouraging broker-dealers to reexamine their policies and procedures relating to protection of customer assets and accounts.  FINRA Regulatory Notice 12-05 advises broker-dealers that FINRA has received an increasing number of reports of customer funds being stolen as a result of instructions e-mailed to firms from customer e-mail accounts that have been compromised.  With that notice, FINRA also issued an Investor Alert advising the public about the reported incidents.  To learn more about the Notice and Alert, please click here to read the Alert published by the White Collar Defense & Investigations and Securities Litigation & Enforcement Client Service Groups and Data Privacy & Security Team on February 6, 2012.

Reporting Cybersecurity Risks — New Obligations for Publicly Traded Companies 

Most companies are aware that they may be required to report data security breaches to consumers and, in some instances, state attorneys general, the FTC, or HHS.  Publicly traded companies should bear in mind that they have to notify another group — their investors.  The SEC last year offered  first-of-its kind guidance on when companies should report cybersecurity incidents in their disclosure statements.  To learn more about the new requirements, please click here to read the Alert published by the Data Privacy & Security Team on February 14, 2012.

DOL Issues Final Fee Disclosure Rule

Earlier this year, the Department of Labor issued a final rule on the disclosure requirements for a contract or arrangement for services to a covered plan to be deemed “reasonable” under Section 408(b)(2) of the Employee Retirement Income Security Act of 1973 (“ERISA”).  These disclosure requirements become effective July 1, 2012 and apply to service contracts and arrangements entered into both before and after that date.  To learn more about the disclosures required and what plans or contracts may be excluded from the rule, please  Click here to read the Alert published by the Employee Benefits and Executive Compensation Client Service Group on February 7, 2012. 

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