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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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January 2014 – Bryan Cave Client Alerts

Client service groups throughout Bryan Cave LLP 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.

Qualified Plan Limits, published by Employee Benefits and Executive Compensation, January 21, 2014

California “Do-Not-Track” Law Has Gone Into Effect, Requiring Some Websites to Revise Privacy Policy, published by the Data Privacy and Security Team, January 9, 2014

Federal Trade Commission Increases Interlocking Directorates Thresholds, published by Antitrust and Competition, January 24, 2014

Eleventh Circuit Holds that Affiliates of Indicted Contractor May Be Suspended from Government Contracting Indefinitely, Despite No Wrongdoing, published by Government Contracts, January 3, 2014

‘Single Asset Real Estate’:  A Concept in Need of Redefinition, published by Bankruptcy, Restructuring and Creditors’ Rights, January 15, 2014

Tax Court Upholds Captive Insurance Arrangement Despite Parent Guarantee and Captive’s Investment in Stock of Parent, published by Tax Advice and Controversy, January 16, 2014

Investment Funds Maintained by Charitable Organizations, published by the Fund Formation Team and Tax Exempt and Charitable Planning, January 7, 2014

Circuit Decision Requires Production of Foreign Bank Account Records, Thus Emphasizing Importance of IRS Amnesty Program, published by Tax Advice and Controversy and White Collar Defense and Investigations, January 9, 2014

SEC ALJ Imposes Six Month Bar on China Affiliates of Big Four Accounting Firms, published by White Collar Defense and Investigations and International Trade, January 24, 2014

Premerger Notification Thresholds Increased, published by Antitrust and Competition, January 24, 2014

EPA Adopts New ASTM Phase I Standard, published by the Environmental group, January 15, 2014

While Some Things Changed, Much Stays the Same as the EU and the United States Relax Sanctions Against Iran (IRB No. 517), published by International Trade, January 28, 2014

SCOTUS Limits the Exercise of General Personal Jurisdiction Over Multi-National Parent Corporations:  Daimler AG v. Bauman, published by Commercial Litigation, January 29, 2014

SEPA — Is There Some Respite for European and US Companies?, published by Financial Services, January 13, 2014

EU & Competition Law Update – January 2014, published by Antitrust and Competition, January 14, 2014

Overhaul of the BIS Unverified List Imposes New Requirements for Exporters (IRB No. 516), published by International Trade, January 21, 2014

UK Labor and Employment Law Bulletin – January 2014, published by Labor and Employment, January 23, 2014

Lokpal:  Finally a force to combat corruption in India, published by the India Practice Group, January 8, 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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March 2012 Client Alerts

9th Circuit Holds TILA Bars Rescission Suits Filed More Than 3 Years After Consummation

In McOmie-Gray v. Bank of America (9th Cir. Feb. 8, 2012), the Ninth Circuit Court of Appeals held that under the Truth in Lending Act (“TILA”), “rescission suits must be brought within three years from consummation of the loan, regardless whether notice of rescission is delivered within that three-year period.”  It ruled that the three year period in the Act is an absolute limitation on rescission actions and that the one year period for bringing claims applies only to damages actions and does not extend the time to file a claim for rescission even where the borrower has sent the Bank a written notice of rescission within three years of loan signing or “consummation.”  To learn more about the facts in this case and the Court’s decision, please click here to read the Alert published by the Commercial Litigation Client Service Group and the Financial Institutions Client Service Group on March 6, 2012.

How Long Should You Retain Data?  Recent Developments May Add Confusion Not Clarity

Businesses have always collected information about their customers, but with the explosion of on-line commerce the quantity of information collected has ballooned.  One question that necessarily arises for almost any business is deciding how long it will keep the data it collects.  Businesses are aware that future developments in technology will improve the usefulness (and value) of the data that is currently in their possession.  Retaining consumer data, however, raises a number of legal risks which are often difficult to quantify in light of the changing regulatory and litigation landscape.  For a discussion of how recent developments add to the legal complexity, please click here to read the Bulletin published by the Data Privacy & Security Team on March 16, 2012.

Supreme Court Weakens EPA’s Enforcement Regine

The United States Supreme Court handed landowners a major victory against the United States Environmental Protection Agency (EPA) in its unanimous decision in Sackett v. EPA, No. 10-1062.  The decision announced March 21, 2012, held that Clean Water Act compliance orders can be challenged in court under the Administrative Procedures, undercutting EPA’s historic practice of using compliance orders to, in the words of the Court, “strong-arm” parties into voluntary compliance.  To learn about the case and the Court’s decision, please click here to read the Alert published by the Environmental Client Service Group on March 22, 2012.

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