On Friday, June 28, 2024, the United States Supreme Court overturned the Chevron doctrine in Loper Bright Enterprises v. Raimondo, 603 U.S. __ (2024), ushering in a new era of judicial review of agency action.
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Trade Secrets
FinCEN Seeking Comments on New Beneficial Owner Reporting Requirements
On April 5, 2021, the Financial Crimes Enforcement Network (“FinCEN”) released its advance notice of proposed rulemaking (“ANPRM”) to solicit public comments on questions pertinent to its implementation of the Corporate Transparency Act’s (“CTA”) beneficial owner reporting requirements. As discussed in a previous Energy Law Blog post, the CTA was adopted as part of the 2021 National Defense Authorization Act and requires that certain business entities disclose to FinCEN the identities of their beneficial owners and applicants. The information will then be stored in a secure, private database that may be accessed by, among others, law enforcement agencies for crime prevention and certain financial institutions for customer due diligence purposes. FinCEN has until January 1, 2022, to implement the regulations regarding reporting requirements, although FinCEN is also using this ANPRM to solicit comments on the implementation of the related database maintenance use and disclosure provisions. Final rules on customer due diligence requirements for financial institutions will be the subject of separate rulemaking and comment periods.
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Top 10 Labor and Employment Issues in Bankruptcy Continued
Last week we reviewed five of the most common, and problematic, labor and employment law issues in bankruptcy. You can read last week’s article here. Below are five additional labor and employment law concerns in bankruptcy that companies must know and assess when they are undergoing bankruptcy.
6. Back Wages
Companies must obviously pay…
Congress Passes the Corporate Transparency Act to Require Beneficial Ownership Disclosure
The Corporate Transparency Act, adopted as part of the 2021 National Defense Authorization Act (the “Act”), will require certain business entities (defined as “reporting companies”) to disclose to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) the identities of their beneficial owners and applicants. FinCEN will use these disclosures to create a…
Supreme Court Punts on Important Arbitrability Question
On January 25, 2021, the United States Supreme Court dismissed, as “improvidently granted,” a writ of certiorari it had previously granted on a petition asking it to consider “[w]hether a provision in an arbitration agreement that exempts certain claims from arbitration negates an otherwise clear and unmistakable delegation of questions of arbitrability to an arbitrator.” …
Navigating Non-Compete and Other Key Talent Issues: A Primer for Employers
Finding new customers and growing sales and market share are the Holy Grail. One way to achieve these objectives is to hire talented sales professionals or managers from competitors. These individuals already know the market and have relationships with potential new customers.
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