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Commentary: Golan v. Holder: Divided Supreme Court Upholds Copyright Statute Taking Works Out of the Public Domain

2012-05-31T00:13:47+00:00

Copyright Law - Expert Legal Commentary || By Jeffrey J. Zuber and Ryan Smith || In a 6-2 opinion, the Supreme Court affirmed the validity of copyright protection for some works once in the public domain. Specifically, in Golan v. Holder, 132 S.Ct. 873 (2012), the majority sided with the United States in upholding the Uruguay Round Agreements Act § 514, which granted copyright protection…

House Oversight Committee Advances Major Federal Pension Reform

2012-05-30T22:17:26+00:00

Employment Law - New Proposed Legislation || Securing Annuities for Federal Employees Act of 2012 || The House Oversight and Government Reform Committee has passed the largest cost-saving reform to federal employee pensions since the creation of the Federal Employee Retirement System in 1984.

Former CEO of Defunct New York Brokerage Firm Held Liable for Massive Investment Fraud

2012-05-30T22:05:51+00:00

Securities Law - New Releases/No Action Letters || U.S. v. Mandell || Ross Mandell, a former Chief Executive Officer of Sky Capital, LLC, a brokerage firm, and related Sky Capital companies, has been sentenced in Manhattan federal court to 12 years in prison.

SEC Charges Mother, Daughter, and Their Attorney in Illegal Penny Stock Scheme

2012-05-29T22:07:31+00:00

Securities Law - New Releases/No Action Letters || SEC v. Christel S. Scucci, et al. || The Securities and Exchange Commission has charged a mother and daughter along with their attorney in a scheme to unlawfully acquire and sell billions of shares of penny stock in unregistered transactions.

U.S. Customs and Border Protection Announces IPR Interim Final Rule

2012-05-29T21:43:38+00:00

Trademark Law - New Statutes, Regulations and Rules || Disclosure of Information for Certain Intellectual Property Rights Enforced at the Border || The U.S. Customs and Border Protection has published in the Federal Register an Intellectual Property Rights Interim Final Rule (IFR) which takes effect immediately upon publication.

Clawback Provisions Applied in Suit against Two Executives in Texas to Recover Bonuses and Stock Profits Received During Accounting Fraud

2012-05-24T01:45:40+00:00

Securities Law - New Releases/No Action Letters || SEC v. Michael A. Baker, et al. || The Securities and Exchange Commission has sued two former executives at an Austin, Texas-based surgical products manufacturer to recover bonus compensation and stock sale profits they received during an accounting fraud at the company.

CPSS and IOSCO Issue Final Report on Principles for Financial Market Infrastructures and Seek Comment on Two Consultative Documents

2012-05-24T01:32:49+00:00

Securities Law - New Releases/No Action Letters || Final Report on Principles for Financial Market Infrastructures || The Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commissions (IOSCO) have published the final report on the Principles for Financial Market Infrastructures.

CFTC’s Division of Market Oversight Issues Advisory Addressing Bona Fide Hedge Transactions and Positions

2012-05-22T20:55:26+00:00

Securities Law - New Statutes, Regulations and Rules || Bona Fide Hedge Treatment under the Commission’s Position Limit Regulations || The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) has issued an Advisory regarding the treatment of bona fide hedging transactions and positions under Commission Regulations 1.3(z), 1.47, and 1.48 as they existed prior to the adoption of the final rule addressing Position Limits for Futures and…

EEOC Updates Guidance on Employer Use of Arrest and Conviction Records

2012-05-22T20:36:14+00:00

Employment Law - New Statutes, Regulations, and Rules || Enforcement Guidance on the Consideration of Arrest and Conviction Records in Employment Decisions Under Title VII || The U.S. Equal Employment Opportunity Commission (EEOC) has issued an updated Enforcement Guidance on employer use of arrest and conviction records in employment decisions under Title VII of the Civil Rights Act of 1964, as amended (Title VII).

Jobs Bill for New Veterans Would Enlist Local Business Leaders as Mentors

2012-05-22T00:06:51+00:00

Employment Law - New Proposed Legislation || The Veterans Jobs Act || Congresswoman Tammy Baldwin (D-WI) and Congressmen Adam Kinzinger (R-IL) and Dave Reichert (R-WA) have introduced legislation to improve programs that provide employment and job training preparation for separating servicemembers.

Former Detroit Officials and Investment Adviser to City Pension Funds Asked to Account for Role in Influence-Peddling Activity

2012-05-21T23:32:38+00:00

Securities Law - New Releases/No Action Letters || SEC v. Kwame M. Kilpatrick, et al. || The Securities and Exchange Commission has charged former Detroit mayor Kwame M. Kilpatrick, former city treasurer Jeffrey W. Beasley, and the investment adviser to the city’s public pension funds involved in a secret exchange of lavish gifts to peddle influence over the funds’ investment process.

Domestic Partnership Benefits and Obligations Act Clears Senate Committee

2012-05-18T18:38:18+00:00

Employment Law - New Proposed Legislation || Domestic Partnership Benefits and Obligations Act of 2011 || The Senate Homeland Security and Governmental Affairs Committee has approved legislation that would entitle federal employees in same sex domestic partnerships to the same benefits now available to married federal employees.

FTC Takes Action against Bogus Precious Metals Investment Scheme

2012-05-18T18:07:21+00:00

Securities Law - New Releases/No Action Letters || FTC v. Premier Precious Metals, Inc., et al. || The Federal Trade Commission has taken action to halt a telemarketing operation that allegedly took millions of dollars from senior citizens by conning them into buying precious metals on credit without clearly disclosing significant costs and risks, including the likelihood that consumers would subsequently have to pay more money or…

IRS Reminds Tax Preparers Need to File Due Diligence Checklist with All Earned Income Tax Credit Claims

2012-05-17T21:12:36+00:00

Tax Law - New Statutes, Regulations, and Rulings || Form 8867 for Earned Income Tax Credit (EITC) || The Internal Revenue Service has issued final regulations requiring paid tax return preparers to file a due diligence checklist, Form 8867, with any federal return claiming the Earned Income Tax Credit (EITC).

Justice Department Will Not Challenge Worker Rights Consortium's Designated Suppliers Program for Collegiate Apparel

2012-05-17T21:03:29+00:00

Employment Law - New Statutes, Regulations, and Rules || Worker Rights Consortium's Designated Suppliers Program for Collegiate Apparel || The Department of Justice has issued a business review letter stating that it will not challenge a proposal by the Worker Rights Consortium to implement the Designated Suppliers Program.

SEC Releases Risk Alert on Unauthorized Trading

2012-05-16T22:07:51+00:00

Securities Law - New Releases/No Action Letters || Strengthening Practices for Preventing and Detecting Unauthorized Trading and Similar Activities || The Securities and Exchange Commission has released an alert to help firms prevent and detect unauthorized trading in brokerage and advisory accounts.

IRS Provides Penalty Relief to Farmers Affected by MF Global Bankruptcy

2012-05-16T21:51:21+00:00

Tax Law - New Statutes, Regulations, and Rulings || Penalty Relief to Farmers || The Internal Revenue Service has provided penalty relief to farmers who incur estimated tax penalties because they did not timely receive Forms 1099 from MF Global or its court appointed trustee, and were unable to file their 2011 calendar year tax return by March 1, 2012.

FTC Closes Eight-Month Investigation of Express Scripts, Inc.'s Proposed Acquisition of Pharmacy Benefits Manager Medco Health Solutions, Inc.

2012-05-16T00:40:15+00:00

Securities Law - New Releases/No Action Letters || The Proposed Acquisition of Medco Health Solutions, Inc., by Express Scripts, Inc. || The Federal Trade Commission has closed its investigation of the proposed acquisition of pharmacy benefits manager Medco Health Solutions, Inc. by Express Scripts, Inc.

US Labor Department Publishes Revised List of Products Made with Forced or Indentured Child Labor

2012-05-15T21:46:14+00:00

Employment Law - New Statutes, Regulations, and Rules || Final Determination Revising the List of Products Requiring Federal Contractor Certification as to Forced Child Labor || The U.S. Department of Labor’s Bureau of International Labor Affairs has published a revised list of products that federal contractors must certify under Executive Order 13126 are not produced with forced or indentured child labor.

SEC Establishes New Supervisory Cooperation Arrangements with Foreign Counterparts

2012-05-10T19:15:54+00:00

Securities Law - New Releases/No Action Letters || Memorandum of Understanding between the U.S. SEC and the ESMA and the U.S. SEC and the CIMA || The Securities and Exchange Commission has established comprehensive arrangements with the Cayman Islands Monetary Authority (CIMA) and the European Securities and Markets Authority (ESMA) as part of long-term strategy to improve the oversight of regulated entities that operate across national borders.

US Labor Department’s OSHA Announces New National Emphasis Program for Nursing and Residential Care Facilities

2012-05-10T18:01:59+00:00

Employment Law - New Statutes, Regulations, and Rules || National Emphasis Program for Nursing and Residential Care Facilities || The U.S. Department of Labor's Occupational Safety and Health Administration has announced a new National Emphasis Program for Nursing and Residential Care Facilities to protect workers from serious safety and health hazards that are common in medical industries.

Senators and Congressmen File Separate Bills Prohibiting Employers from Requiring Employees to Give Access to their Social Networking Accounts

2012-05-9T23:23:21+00:00

Employment Law - New Proposed Legislation || Password Protection Act of 2012 and Social Networking Online Protection Act || Senators Richard Blumenthal (D-CT), Chuck Schumer (D-NY), Ron Wyden (D-OR), Jeanne Shaheen (D-NH), and Amy Klobuchar (D-MN) have introduced legislation aimed at curbing the growing practice of employers requiring prospective or current employees to provide access to password-protected accounts as a condition for employment.

FCC Adopts New Rules Permitting TV Channel Sharing by Broadcasters; Enacts First Step Towards Freeing UP Spectrum under Incentive Auction

2012-05-8T23:45:12+00:00

Copyright Law - New Statutes, Regulations and Rules || In the Matter of Innovation in the Broadcast Television Bands: Allocations, Channel Sharing and Improvements to VHF || The Federal Communications Commission (FCC) has taken its first step toward making a significant portion of spectrum currently used by the broadcast television service available for new uses.

FCC Modernizes Broadcast Television Public Inspection Files to Give the Public Online Access to Information Previously Available Only at TV Stations

2012-05-8T22:24:14+00:00

Copyright Law - New Statutes, Regulations and Rules || In the Matter of Standardized and Enhanced Disclosure Requirements for Television Broadcast Licensee Public Interest Obligation || Broadcasters have kept what are now known as “public files” on paper since 1965 as part of their longstanding obligation to disclose community-relevant information for public review.

SEC Issues Risk Alert on Strengthening Practices for Underwriting of Municipal Securities, and Investor Bulletin on Municipal Bonds

2012-05-3T20:22:37+00:00

Securities Law - New Releases/No Action Letters || Strengthening Practices for the Underwriting of Municipal Securities and Investor Bulletin: Municipal Bonds || The Securities and Exchange Commission has issued a Risk Alert on compliance measures to help broker-dealers fulfill their due-diligence duties when underwriting offerings of municipal securities. The agency also issued an Investor Bulletin to help educate investors about municipal bonds.