Mondaq Most Recent Articles-Sunday, July 23, 2017

CSA Proposed Amendments: Foreshadowing Future Changes To The Securities Resale Regime? Fasken Martineau The proposed amendments relate primarily to section 2.14 of NI 45-102 which sets out a prospectus exemption permitting the resale of securities by an investor where the issuer of those securities is not a reporting issuer in any Canadian jurisdiction.	Healthcare Real Estate Deals: Two Laws You Should Know Holland & Knight Healthcare real estate is one of the fastest growing construction sectors in terms of both the quantity and the size of projects. One factor contributing to this rapid growth is that hospitals and health systems can sell or lease their holdings to third parties.
An Argument Against Legal Sartorial To CSR: Where Are We? ARA LAW Our souls still tremor with the horrors of disaster which took place in 1984, commonly remembered as the infamous ‘Bhopal Gas Leakage Disaster', however the more shocking side is the behavior of...	SEC Expands The Use Of Confidential Submissions Of Draft Registration Statements Davies Ward Phillips & Vineberg The staff of the U.S. Securities and Exchange Commission recently began accepting from all issuers confidential submissions of draft registration statements for review by the SEC staff in certain cases.
Courts Continue To Enforce Foreign Non-Competes In California While The Window For Such Agreements Slowly Closes Orrick Contrary to common perception, California employees who signed restrictive covenants prior to January 1, 2017 are not completely immune to enforcement of all restrictions on competition.	Warehouse Financing – Internal And External Fraud Shook Lin & Bok Trade finance is often structured as self-liquidating financial transactions, with trust receipts and sale and repurchase agreements being the common staples of the industry.
Meeting Your US Filing Obligations In 6 Steps: Moodys Gartner Tax Law LLP Are you a US citizen living abroad? Did you know that the US taxes on both citizenship and residency? If you're a US citizen, you are required to file yearly tax returns with the IRS – even if you don't live on US soil.	Philippe Weiss interviewed by WGN Radio - July 12 Seyfarth Shaw LLP Philippe Weiss was interviewed on July 12 by WGN Radio on a recent study about the level of weariness women and men feel spending one-on-one time with the opposite sex.
The Art Of Trade: Knowing The US Position In NAFTA Negotiations McCarthy Tétrault LLP In the Art of War, Sun Tzu tells us that he who knows himself and knows his enemy need not fear the outcome of a hundred battles.	Ontario Opens Popular Immigration Stream Immigration.ca July 21, 2017 - The Ontario immigration office has open applications for its key Employer Job Offer Stream. Foreign workers and international students can apply now to the Ontario Immigration Nominee Program (OINP) stream.
Finance Targets Tax Planning For Private Corporations Collins Barrow National Incorporated On July 18, the Department of Finance released a consultation paper outlining a number of measures designed to close down various tax planning strategies currently available to owners of...	Ontario Court Overturns Quarry Licence Due To Government Failure To Adequately Consult First Nations Blake, Cassels & Graydon LLP The Ontario Divisional Court (Court) has set aside a quarry licence issued to a private company on the basis that the Ontario government failed to fulfil its constitutional obligation to consult with local First Nations...
Indiana Tax Court Allows Deductions For Interest Paid On Intercompany Loans And Holds That Gain From Sale Of Partnership Was Nonbusiness Income Morrison & Foerster LLP On July 11, 2017, the Indiana Tax Court released a decision in E.I. DuPont de Nemours and Company v. Indiana Department of State Revenue.	Public Healthcare In The Kingdom Of Saudi Arabia: Plans For Private Sector Participation Shearman & Sterling LLP Reform of how public healthcare and related services are delivered in the Kingdom is one of the Government's most important priorities.
Cayman Islands & BVI AEOI Update: Extended Reporting Deadlines Maples and Calder Pursuant to an industry advisory dated 19 July 2017, the Department for International Tax Cooperation has announced a final extension of the 2017 Reporting Deadline for FATCA and CRS to 31 August 2017.	Reforma al código penal federal: Cobranza Extrajudicial Ilegal Basham, Ringe y Correa, S.C. El 22 de junio de 2017 se publicó en el Diario Oficial de la Federación, decreto por el cual se reformó el Capítulo I del Título Decimoctavo y se adicionó el artículo 284 Bis del Código Penal Federal.
SEC Chair Addresses Capital Formation Morrison & Foerster LLP In a speech earlier today, Securities and Exchange Commission Chair Clayton discussed the Commission's guiding principles.	USDOT Seeks To Remove "Speedbumps" For Transportation Infrastructure Projects, Opens A Revamped Grant Program To Accelerate Public-Private Infrastructure Investment Morrison & Foerster LLP President Trump recently debuted his "Plan to Rebuild America's Infrastructure," which describes his vision for overhauling the nation's infrastructure.
Key Funding Issues For Provider-Operated Allied Health Residency Programs Dentons Medicare GME reimbursement is designed only to support the training of medical, dental and podiatric residents.	NBU Allows Early Repayment Of Cross-Border Loans Dentons These changes were approved by NBU Resolution No. 61 dated 10 July 2017, which came into force on 11 July 2017 and will be effective until cancelled by the NBU.
Cambios En Las Tasas De Argentina Clarke, Modet & Co El primer aumento, de un 20% aproximadamente, ocurrirá el 1 de agosto de 2017. Tal como sucedió en otras oportunidades, el aumento se llevará a cabo en dos etapas...	Arrested Development: Ship Released From Arrest Despite Pending Appeal Blake, Cassels & Graydon LLP In Platypus Marine, Inc. v. TATU (TATU), the Federal Court of Canada (Court) ordered that the defendant ship be released from arrest because there was no outstanding judgment.
Proposed Tax Amendments Announced For Income Splitting Rotfleisch & Samulovitch P.C. The Department of Finance announced 3 changes to the Canadian Income Tax Act on Tue July 18. The first one related to income sprinkling and is designed to reduce income splitting...	Cloud As A Strategic Business Enabler KPMG Cloud computing has been described as the future of computing and a boon for businesses with ambitious growth plans and the desire to use best in breed, innovative computing solutions.
Basel In A Box KPMG The Central Bank of the UAE (CBUAE) recently released Circular 52, regulations on capital adequacy. This is the CBUAE's response to Basel III definitions of capital and minimum capital requirements.	Context Matters: Mortgage Underwriters Don't Meet FLSA'S Administrative Exemption, Ninth Circuit Concludes Jackson Lewis P.C. Mortgage underwriters do not qualify for the Fair Labor Standards Act's administrative exemption because they are more appropriately characterized as "production" employees...
A Retail Payments Oversight Framework Torys LLP With the view of promoting innovation and competition while protecting the public interest, the Department of Finance (the Department) has followed up on an earlier Consultation Paper...	Rangers Ruling Opens Door To Further EBT Challenges By HMRC Ogier HMRC's successful appeal against the owners of the now-liquidated Glasgow Rangers FC is likely to lead to further challenges against Employee Benefit Trusts (EBT) and other loan and benefit schemes that have not yet gone through the settlement process.
GCC Releases VAT Framework KPMG The text of the GCC unified agreement for value added tax (VAT) has been published (in Arabic) by the Kingdom of Saudi Arabia.	To Increase Or Not To Increase? – The Question Has Been Answered Moeller IP Advisors Further to our previous post in June 2017 about this matter, on July 18, 2017, the Office of the President of Argentina published in the Official Bulletin Resolution 311-E / 2017, the planned increase of official fees for intellectual property.
FINRA Releases June 2017 Monthly Podcast Cadwalader, Wickersham & Taft LLP FINRA released a podcast summary of FINRA news, notices and resources from June 2017.	Los Angeles "Ban The Box" Laws Limit Employer Access To Criminal Records Gibbs Giden Locher Turner Senet & Wittbrodt LLP Over the past few years, California has gradually limited the ability of employers to utilize criminal records and background checks in making employment decisions.
Preliminary Approval Granted To Settlement Of Class-Action Suit For Opening Unauthorized Accounts Cadwalader, Wickersham & Taft LLP A judge in the U.S. District Court for the Northern District of California granted preliminary approval to an agreement that would allow Wells Fargo to settle a class-action lawsuit filed...	FINRA Highlights Change To Delay Periods For Historic TRACE Data Sets Cadwalader, Wickersham & Taft LLP Effective October 2, 2017, the delay period applicable to Historic Trade Reporting and Compliance Engine ("TRACE") Data for corporate bonds and agency debt will be reduced from 18 months to six months.
Stop Press! Supreme Court Holds That Full Survivors' Pension Benefits Must Be Applied To Civil Partnerships & Same-Sex Marriages – The Times Are Indeed A-Changin' MacRoberts Summary: occupational pension schemes must provide equal survivors' benefits to those who are married or in a civil partnership regardless of sexual orientation.	CFTC Brings Two Commodity Pool Fraud Cases Cadwalader, Wickersham & Taft LLP The CFTC charged a New York resident and his company with commodity pool fraud, off-exchange foreign currency derivatives fraud, and failure to register with the CFTC.
House Small Business Committee Requests Briefing From CFPB On Rulemaking Activity Cadwalader, Wickersham & Taft LLP The United States House Committee on Small Business ("Committee") requested a briefing by the Consumer Financial Protection Bureau ("CFPB") regarding the agency's business lending data collection rulemaking.	The Ninth Circuit Writes The Script On Pleading And Proving Reverse Confusion Claims Fenwick & West LLP The U.S. Court of Appeals for the Ninth Circuit clarified the requirements for pleading and establishing a trademark infringement claim under a "reverse confusion" theory in Marketquest Group v. BIC, Case No. 15-55755.
CIRC Publishes Draft Discussion Paper On Credit Guaranty Insurance Business Clyde & Co On the 19th of June 2017, the China insurance Regulatory Commission (CIRC) published its Draft Discussion Paper on Credit Guaranty Insurance Business (Discussion Paper).	Canada Gets Ready To Introduce Patent Term Restoration For The First Time McCarthy Tétrault LLP As a part of its obligations under CETA, Canada plans to introduce patent term restoration for up to two years when research or regulatory delays have consumed part of the 20-year term...
French Court Rules On Patent Revocation Interest To Sue, Statutes Of Limitation Jones Day In France, actions for patent revocation are subject to strict rules regarding interest to sue and to a five-year statute of limitation.	Informations- & Kommunikationstechnologien Duane Morris LLP Eng an den steigenden Trend der vietnamesischen Wirtschaftsentwicklung gekoppelt, wurde die Informationstechnologie- (IT) Branche ein sehr wichtiger Wirtschaftssektor in Vietnam.
Renewal Of U.S. FATCA Registration For Certain Investment Funds By Monday, July 31, 2017 Akin Gump Strauss Hauer & Feld LLP Recent IRS guidance requires that non-U.S. investment funds currently relying on an FFI agreement for their FATCA compliance must renew such agreement on the IRS website by July 31, 2017...	Arbitrating In Canada? Don't Count On Judicial Oversight McCarthy Tétrault LLP At first glance, international parties looking to do business in Canada may think that the provincial arbitration regimes are more lenient in granting appeal rights than the UNCITRAL rules.
Trust Essentials - July 2017 Ogier For the first time, a Guernsey trustee has sought advice from the Royal Court over whether it should submit to the jurisdiction of a foreign court – notwithstanding the firewall provisions of the island's trusts law.	Storefront Cannabis Retail Coming To Edmonton? Minden Gross LLP Edmonton City Council voted 10 – 0 (with three Councillors absent) to amend an existing zoning bylaw to make provision for future storefront cannabis retail establishments, as well for cannabis lounges within the City of Edmonton.
Alberta Clarifies Status of Linear Property Tax Claims Under Bankruptcy and Insolvency Act Torys LLP •The Court of Queen's Bench held that the Municipal Government Act, RSA 2000, c M-26 (MGA), which grants municipalities the power to levy linear property taxes in Alberta, may provide a special lien for tax arrears for taxes relating to a parcel of land.	FTC Reaffirms That IoT Devices Must Comply With COPPA Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. The Internet of Things ("IoT") can be thought of as a group of different devices that can communicate with each other, perhaps over a network such as the internet.
CPSC To Host Recall Effectiveness Workshop; Commissioner Kaye Issues Recall Effectiveness Statement Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. On July 25, 2017 at 9:00 AM, the Consumer Product Safety Commission will be hosting a public workshop on Recall Effectiveness.	Massachusetts: Medical Marijuana As A Reasonable Accommodation In The Workplace Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. As our readers know, we have been monitoring decisions regarding the ability of employers to take disciplinary action against employees for using marijuana at work (like this decision here).
Beverage Tax Wars Continue As Parties Head Back To Court For A Preliminary Injunction Hearing On The Cook County, Illinois Tax McDermott Will & Emery A legal challenge to Cook County Illinois Sweetened Beverage Tax (Tax) heads back to circuit court today for a hearing on the plaintiffs' motion for preliminary injunction.	The Implementation Of The AIFM-Directive In Germany – What Third Country Managers Should Know Mayer Brown The new German Capital Investment Act (Kapitalanlagegesetzbuch, "KAGB") enters into force on July 22, 2013.
Minorities Given Preferential Access To Cannabis Business Licenses Under D.C. Law Minden Gross LLP The Council of the District of Columbia has passed a law which gives minority-owned companies preferential access to cannabis business licenses.	Client Alert On Secured Transactions Law In Azerbaijan Dentons In late May 2017 the President of the Republic of Azerbaijan signed the new Law on Secured Transactions with Movable Property. The law was prepared based on the UNCITRAL Model Law on Secured Transactions.
Practical Tips For Staffing A New Entity In Latin America Harris Gomez Group Over the last 16 years, Harris Gomez Group has been helping companies from Australia, Canada, United Kingdom, South Africa, United States, as well as those in-between, expand and do business in Latin America.	Developments In FICA And Self-Employment Tax Affect Partners And S Corporations Thompson Coburn LLP I was recently honored to serve as a guest columnist in the June 2017 "Shop Talk" column in WG&L's Journal of Taxation.
MiFID II Implementation - Ireland And Third Country Firms Maples and Calder On 14 July 2017, the Irish Department of Finance issued a feedback statement on its 2016 public consultation on Ireland's approach to the transposition of MiFID II.	Pricing Algorithms: Conscious Parallelism Or Conscious Commitment? Orrick Antitrust partner Alex Okuliar and associate Elena Kamenir published a column on Competition Policy International about recent commentary by the global enforcement community on pricing algorithms...
Canadian Public Comments On NAFTA Are Due July 18 Osler, Hoskin & Harcourt LLP Canadian businesses should be mindful that the deadline for submitting comments to Global Affairs Canada on the renegotiation and modernization of the North American Free Trade Agreement (NAFTA)...	Additional 15,000 Visas For H-2B Temporary Nonagricultural Workers For FY 2017 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. Effective upon publication by the Federal Register on Wednesday, July 19, 2017, the DHS has authorized the one-time issuance of an additional 15,000 H-2B visas for Temporary Nonagricultural Workers...
Structuring A Strategic Alliance Frankfurt Kurnit Klein & Selz Emerging growth companies at some point generally will need to develop strategic alliances with other businesses.	Altman On FinTech And M&A—Protecting Intellectual Property (Video) Shearman & Sterling LLP Jordan Altman discusses the necessary steps—from developing source code to active filings—in protecting a FinTech company's intellectual property rights during an M&A transaction...
New York Attorney General's Chief Economist Guy Ben-Ishai Joins The Brattle Group The Brattle Group, Inc. The Brattle Group is pleased to announce that competition and securities expert Dr. Guy Ben-Ishai has joined the firm's New York office as a principal.	How Do Strata Owners Split The Proceeds When Selling To A Developer? Clark Wilson LLP Legislative amendments launched last year to allow strata corporations to sell their entire building and land with 80% owner approval, which has created a wave of group condo sales in Metro Vancouver.
A Review Of Recent Whistleblower Developments - July 2017 Foley & Lardner Whistleblower Developments is a periodic report covering significant cases, decisions, proposals, and legislation related to whistleblower statutes and how they may impact your business.	Controversial CFPB Rule Exposes Financial Services Companies To Greater Class Action Risk Holland & Knight Under a controversial new final rule issued by the Consumer Financial Protection Bureau (CFPB) on July 10, 2017, banks and credit card companies are prohibited from forcing consumers....
Lauren Liang Republished By Quickscribe Reporter Clark Wilson LLP Lauren Liang's recent article on inheritance rights of children born out of wedlock was republished by Quickscribe Reporter in its June edition. Quickscribe Reporter is a well-circulated summary of Canadian law.	California Supreme Court Sides With Coastal Commission In Case Challenging Permit Conditions Holland & Knight Ruling Holds That Property Owners Forfeit Challenge to Land Use Permit Conditions by Proceeding with Construction
Casualty notice: "KEA TRADER" Clyde & Co We have received reports that the " KEA TRADER ", a 2017 built container vessel flying the Maltese flag, has grounded on reefs off Mare Island.	The WFDL Is Broader Than You Think -- Lessons From Golf Pros Foley & Lardner On June 22, 2017, the Wisconsin Supreme Court took a 3-Iron to common intuitions about who is, and who is not, a dealer protected by the Wisconsin Fair Dealership Law (WFDL).
USCIS Revises Form I-9 (July 2017) Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. On July 17, 2017, U.S. Citizenship and Immigration Services (USCIS) published another revised version of Form I-9, Employment Eligibility Verification.	Canadian Environmental Regulatory Reform Taking Shape Torys LLP The GC Recently Issued A Discussion Paper Entitled "Environmental And Regulatory Reviews," Which Outlines Its Proposed "Series Of System-Wide Changes" To The Federal EA Regime, Energy Regulation By The NEB...
Glasgow Rangers – The "Big Tax Case" Ogier The essence of the arrangement was that Rangers paid monies into the EBT and further into various sub-trusts for the benefit of players and other senior figures within the club.	Ontario's New Long-Term Energy Plan To Be Released Around Late Summer of 2017 Aird & Berlis LLP On July 7, 2017, the Ontario Ministry of Energy released a proposal for a new Regulation under the Electricity Act, 1998 that will specify the timing for Ontario's Long-Term Energy Plan (LTEP).
9 Ways To Attract Buyers For Your Business Collins Barrow National Incorporated Most entrepreneurs who plan to sell when exiting their business don't think about it seriously until they are ready to sell.	Treasury Identifies Eight Regulations Subject To Modification And Potential Repeal Grant Thornton LLP The Treasury Department on July 7 issued Notice 2017-38 which identifies eight regulations — including those issued under Section 385 — that could be subject to some reform, including modification...
Steps To Maximize D&O Coverage For Investigations – Part 2 Miller Friel Today's blog post is the second video in a three-part series addressing steps that policyholders should take to maximize insurance recovery for governmental investigations under D&O insurance policies.	Travel Ban Update Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. On June 26, 2017 the Supreme Court ruled that a limited version of the 90-day Travel Ban contained in President Trump's Executive Order 13780 could go into effect.
Brattle Report Discusses The Impact Of The Wireless Infrastructure Industry On The U.S. Economy The Brattle Group, Inc. Brattle economists have authored a report discussing how the wireless infrastructure industry will impact the U.S. economy in the coming years, as mobile wireless services and networks continue to expand.	Bankers Life And Casualty: Illinois Appellate Court Finds Connecting To Old Colleagues Via LinkedIn Does Not Constitute Unlawful Solicitation Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. New job to-do list: (1) send goodbye email; (2) attend goodbye party; (3) update LinkedIn account; and (4) then use said LinkedIn account to send old colleagues new contact information.
SEFAZ Resolution No. 94/2017: Deadline Extended to File Information regarding Tax Benefits in State of Rio de Janeiro Tauil & Chequer On July 07, 2017, SEFAZ Resolution No. 94/2017 was published, extending the deadline to file information regarding the tax benefits and tax exemptions in the State of Rio de Janeiro...	IRS Identifies 8 Burdensome Regulations For Reform Lowndes, Drosdick, Doster, Kantor & Reed, P.A. Responding to a Trump Executive Order, the Treasury Department has reviewed all significant tax regulations issued after December 31, 2015 and identified eight regulations to be reformed to mitigate the burden...
North Carolina Passes Solar Reform Bill With An 18-Month Wind Moratorium Troutman Sanders LLP On June 30, 2017, the North Carolina General Assembly ratified compromise legislation that modernizes the state's solar energy rules but also includes an 18-month moratorium on wind energy projects in the state.	Financial Complexity And Non-Compliance The Key Worries In APAC TMF Group In a region housing some of the most financially-complex countries in the world, is it any wonder that non-compliance with local regulation was named the most concerning compliance trend in Asia Pacific?
Transfer Pricing Times: OECD Releases Discussion Draft On Hard-To-Value Intangibles Duff and Phelps In this edition: the OECD releases discussion draft on hard-to-value intangibles, Australia issues risk framework for evaluating intercompany loans, recent transfer pricing developments in India, ...	UK Corporate Offence Of Failure To Prevent Tax Evasion (Video) Ropes & Gray LLP The UK's new corporate offence of failure to prevent facilitation of tax evasion is quite a mouthful, but the title does do a pretty accurate job of describing the offence.
Healthcare Services Sector Update - May 2017 Duff and Phelps The S&P Healthcare Services Index increased 2.7% over the last month, outperforming the S&P 500, which increased 1.2% over the same period.	D.C. Circuit Rejects Seminole Electric Cooperative's Appeal For Additional Refunds Troutman Sanders LLP On June 30, 2017, the United States Court of Appeals for the D.C. Circuit denied a petition by Seminole Electric Cooperative, Inc. seeking to increase the refund amount FERC ordered FP&L...
A New Regulation Has Been Issued For The Harmonization Of Public Generation Facilities With The Environmental Legislation Aksac Law Office The requirement concerning harmonization of public generation plants with the environmental laws and regulations was originally introduced by the Provisional Article 8 of the Electricity Market Law numbered 6446.	Massachusetts Announces 200 MWh Energy Storage Procurement Target Troutman Sanders LLP On June 30, 2017, the Massachusetts DOER informed the Massachusetts Legislature of its adoption of a 200 MWh energy storage target for EDCs to procure "viable and cost-effective energy storage systems"...
Court Of Cassation Awards Employee Outstanding Monies After More Than One Year In Case Of Acknowledgement By Employer The Firm Dubai The law presumes that if a claimant does not bring his claim within a reasonable time, the claimant does not wish to pursue it.	Cassation Court Protects The Right Of Companies To Confidentiality Of Their Information In A Dispute Against An Employee The Firm Dubai Some of the employers we meet in the UAE believe that the labour courts are naturally inclined to rule against them in disputes against their employees.
Shenkman Interviewed By E&E TV On Clean Water Rule Repeal Arnold & Porter Kaye Scholer LLP Environmental partner Ethan Shenkman was recently interviewed for E&E TV's "OnPoint" series projecting how the EPA may address a proposed rule to rescind the Waters of the United States rule...	The New Turkish Industrial Property (IP) Law No. 6769 Efor Intellectual Property Law Firm The due date of annuity payments has been changed as the third anniversary of the application date, while it may also be paid with fine within six months following the due date.
The Deal Of The Century Ahead' VJT & Partners The official language of the tenders will be Russian, but this should not present an obstacle as US and European companies usually participate in tenders of Atomstroy export.	$644 Million Patent Infringement Judgment Is Largest In Canadian History Gowling WLG In its decision in The Dow Chemical Company v. Nova Chemicals Corporation, 2017 FC 637, the Federal Court of Canada has awarded the successful plaintiff (Dow Chemical) over $644,000,000...
Washington State Is Latest To Enact Paid Family Leave Legislation The McLane Law Firm On July 5, 2017 Washington became the latest state to enact some form of paid family and medical leave.	Digital Law Services In Costa Rica Facio & Canas More rights and obligations, some of which are part of our inalienable human rights.
FDA's Denial Of Citizen's Petition "Clear" Enough For Preemption Of Failure-To-Warn Claims Morrison & Foerster LLP The Tenth Circuit recently upheld a Utah district court's finding that a branded drug manufacturer could not be held liable for failing to warn consumers about alleged birth defect risks when the FDA...	On The Dark Side Of Automation: Impact On Subprime Auto Borrowers Davis & Gilbert Self-driving cars, car sharing and subscription-based vehicle services: these are destined to affect the auto industry in ways that will make the current sales slump and shift from cars to SUVs seem like a bump in the road.