Mondaq Most Recent Articles-11 December 2013

SEC Lifts Long-Time Ban On Advertising By Hedge Funds, Private Equity Funds, And Other Private Investment Vehicles Jones Day On July 10, the U.S. Securities and Exchange Commission ("SEC") adopted final rules under Section 201(a) of the Jumpstart Our Business Startups Act (the "JOBS Act") removing the ban against general solicitation and general advertising in private offerings made in reliance on Rule 144A and Rule 506 of Regulation D under the U.S. Securities Act of 1933 (the "Securities Act").	Changes Being Effected To Drug Labeling Regime: FDA Releases Proposed Pathway For Generic Safety Updates Jones Day On November 13, the U.S. Food and Drug Administration ("FDA") published a proposed rule concerning "procedures for application holders of an approved drug or biological product to change the product labeling to reflect certain types of newly acquired information prior to FDA's review of the change" that would, specifically, allow abbreviated new drug application ("ANDA") holders to update product labeling for their "generic" drug products in advance of its reference listed drug ("RLD"; i.e., the
Dewonkify – Markup Drinker Biddle & Reath LLP A legislative process for considering and making any recommended adjustments to a piece of legislation prior to moving the legislation forward for a committee vote of passage or defeat.	Fifth Circuit Holds That NLRB Erred In Finding That Arbitration Agreements With Class Action Waivers Violate NLRA Jones Day On December 3, the Fifth Circuit, in D.R. Horton, Inc. v. National Labor Relations Board, rejected the National Labor Relations Board's ruling that Horton's mandatory arbitration agreement containing a class action waiver violated § 7 of the National Labor Relations Act. No. 12-60031, 2013 WL 6231617 (5th Cir. Dec. 3, 2013).
NCVO Opens Inquiry Into Executive Pay Withers LLP The inquiry will produce definitive guidelines for charity trustees to help determine the remuneration of senior executives.	Changes Made To Charity Commission Annual Return Withers LLP Under the new annual return regime, registered charities will be obliged to provide additional key information to the Commission including...
Autumn Statement - 06 December 13 Withers LLP The Chancellor said yesterday in presenting his Autumn Statement that he wished to put beyond doubt that entities established for the purposes of tax avoidance would not have any entitlement to charitable tax reliefs and that the measure would be introduced in the Finance Bill 2014.	Cup Trust Appeal Fails Withers LLP Mountstar had appealed to the High Court over the Commission’s decision to open a statutory inquiry into the Cup Trust and to appoint an interim manger of the charity but the tribunal ruled that there was an overwhelming public interest in the Commission’s inquiry.
Autumn Statement 2013: Key Points For Private Clients Wedlake Bell Chancellor George Osborne delivered his Autumn Statement to Parliament yesterday, 4 December 2013.	RETLA Clauses And When To Clause Bills In The Steel Trade - RETLA Does Not Cover All Rust Van Velden Pike Inc The importance of the RETLA Clause in Bills of Lading has been highlighted in the recent Breffka & Hehnke GMBH & Co KG and Others v Navire Shipping Co. Ltd and others (The SAGA EXPLORER) [2012] EWHC 3124 (Comm) decision in which the English Commercial Court did not follow the Tokio Marine & Fire Insurance Company Ltd v Retla Steamship Company [1970] 2 Lloyd's Rep 91 United States Court of Appeal (Ninth Circuit) decision.
ALINA II – South Africa’s Robust Approach To Arrests Van Velden Pike Inc The Alina II judgment handed down by the Western Cape High Court under case number AC47/2010 in January 2013 is important as it highlights the robust approach taken by our courts with regard to evidence of ownership when it comes to arrests.	Feeling Sidelined? – How To Have Your Voice Heard By Your Fellow Shareholders Van Velden Pike Inc It is in the context of a private company (where shares cannot always simply be sold on an open market as recourse to an undesirable resolution being passed) that the need for protective mechanisms for minority shareholders’ interests is highlighted.
Should Master Circular Cover Derivative Transaction? PSA Legal Counsellors Derivative is a financial contract that derives its value from a specific market reference, such as a common stock, index, interest rate, commodity, or currency.	Appointment Of Employees PSA Legal Counsellors Employing a candidate to a company is an important process as a company cannot grow and survive without adequate and well-trained human resources.
ASIC Employee Incentive Schemes - consultation paper HopgoodGanim Changes to the policy on Employee Incentive Schemes are suggested, to keep up with new developments and legal changes.	SPC orders courts to publish judgments online R&P China Lawyers While Chinese judgments are technically public, until now there has been no public database to search judgments.
Staff Of SEC’s Division Of Corporation Finance Issues Interpretations Of "Bad Actor" Rule Fried Frank Harris Shriver & Jacobson On December 4, 2013, the Division of Corporation Finance of the Securities and Exchange Commission ("SEC") issued Compliance and Disclosure Interpretations ("CDIs") addressing several questions that may arise regarding the recently adopted "bad actor" disqualification provisions applicable to offerings relying on Rule 506 of Regulation D under the Securities Act of 1933 (the "Securities Act").	SDE Focuses On Public Procurement Sector Felsberg e Associados On June 29, 2007, Ms. Mariana Araujo, the head of the Secretariat of Economic Law (SDE), the antitrust agency in charge of investigating and prosecuting anticompetitive conducts, made a presentation to the Antitrust Committee of the Brazilian Bar Association (Sao Paulo Chapter) of SDE’s strategic working plan for the next four years.
Update on privacy compliance for app developers DLA Piper Australia The final version of the guide 'Mobile privacy: A better practice guide for mobile developers' was released by the OAIC.	Asia Autumn Statement 2013 Withers LLP We set out below the personal tax highlights from today’s Autumn Statement. Unsurprisingly the main focus of the statement was the UK’s economic progress, and many of the measures announced are UK focussed.
The Link Between Risk Management And Compliance Parker Poe Risk management professionals constantly preach that risk management is not compliance. Risk managers help set strategy.	Two Circuits Address The First Amendment Status Of Facebook Activity Morrison & Foerster LLP Two recent U.S. appellate court decisions have clarified the extent to which the First Amendment protects the social media activities of government employees.
Regulation Of Financial Transfer Pricing TozziniFreire Advogados On August 2nd, 2013, the Minister of Finance regulated that 3.5 percent is the spread to be adopted to calculate the maximum interest rate that a Brazilian company may deduct from Corporate Income Taxes (IRPJ/CSLL) calculation bases, when the creditor is either an affiliated company domiciled outside Brazil, or a resident of a tax haven jurisdiction.	IN 1397: O Balanço Fiscal, O Lucro Fiscal E Suas Consequências TozziniFreire Advogados Em 17 de setembro, foi publicada a Instrução Normativa da Receita Federal do Brasil ("RFB") nº 1.397/2013 ("IN 1397"), que trata do Regime Tributário de Transição ("RTT") previsto pela Lei nº 11.941/2009, cujo objetivo é neutralizar os efeitos fiscais das novas práticas contábeis estabelecidas pela Lei nº 11.638/07, que introduziu as normas contábeis internacionais (IFRS) no Brasil.
Hospital Outpatient Payment (HOP) Advisory Panel Meeting - March 10-11, 2014 Reed Smith CMS has scheduled a meeting of the HOP Advisory Panel on March 10-11, 2014.	CMS Town Hall Meeting On IPPS New Technology Add-On Payments (Feb. 12) Reed Smith CMS is holding a meeting on February 12, 2014 to discuss fiscal year (FY) 2015 applications for add-on payments for new medical services and technologies under the Medicare hospital inpatient prospective payment system (IPPS).
The Perfect Storm For Increased Scrutiny Of The Cleared Workforce: What Contractors Need To Know Venable LLP After the damning security leaks by Eric Snowden and the Washington Navy Yard shooting, many people in Washington are turning their sights to additional regulation to protect national security and military installations.	CMS Announces Plans To Finalize ACA Medicaid Drug Pricing Policy In July 2014 Reed Smith After more than two years of releasing draft average manufacturer price (AMP)-based federal upper payment limit (FUL) files and methodology documents, CMS now expects to finalize the ACA Medicaid FULs for multiple source drugs in July 2014.
President Obama’s New Memorandum On Federal Agency Use Of Renewable Energy And Energy Management Reed Smith On December 5, 2013, President Obama issued a memorandum establishing (1) a new goal for federal agencies’ use of renewable energy and (2) new energy management directives (Memorandum).	Professional Associations Under Competition Bureau Scrutiny Davies Ward Phillips & Vineberg In a speech delivered on December 5, 2013, John Pecman, the Commissioner of Competition, provided an update on the Competition Bureau’s recent advocacy efforts.