Legal News

On July 3, 2020, the U.S. Department of Justice and the Securities and Exchange Commission issued a Second Edition of the Resource Guide to the U.S. Foreign Corrupt Practices Act (the Guide), representing the Guide’s first significant update since 2012....By: Troutman Pepper

Introduction - Nothing focuses the mind more than when you cannot obtain food which, as Maslow's hierarchy of needs tells us, is the first building block of humanity's motivation (although it’s currently unclear where toilet roll fits into this)....By: K&L Gates LLP

On July 2, 2020, the IRS issued proposed and temporary regulations under section 1502 that implement certain statutory amendments made by the Tax Cuts and Jobs Act (TCJA) and Coronavirus Aid, Relief, and Economic Security Act (CARES) Act. Generally, the regulation package addresses the absorption of consolidated net operating loss (NOL) carryovers and carrybacks by consolidated groups under the TCJA and CARES Act....By: Eversheds Sutherland (US) LLP

EPA limits states’ power to review projects that affect water quality - Bullet Courthouse News Service – July 13 - The U.S. Environmental Protection Agency (EPA) on Monday issued a new 401 Certification Rule under the Clean Water Act (CWA), aggressively curtailing the role states and tribal governments have played for 50 years in deciding whether projects that can harm water quality should receive federal permits......By: Allen Matkins

Effective June 3, 2020, the screening of foreign direct investments (FDIs) has been expanded in Germany with a first tranche of new rules primarily affecting the healthcare sector. This expansion of the FDI control scheme reflects a broader trend across a number of EU member states and globally. It is also a first step of a more extensive revision of German FDI control that will come into force during the course of this year......By: Morrison & Foerster LLP

As European nations increasingly focus on regulation of foreign direct investment (FDI), the UK Government recently announced changes to the Enterprise Act 2002, which underpins the UK’s merger control regime. Within the raft of legislative measures introduced to combat the effects of the COVID-19 pandemic, the UK Government has turned its focus to protection of businesses that are crucial to fighting public health emergencies, while also expanding the jurisdiction of the merger control regime...

On July 3, 2020, the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC) jointly released the second edition of the “Resource Guide to the U.S. Foreign Corrupt Practices Act,” which was originally published in November 2012. In the intervening eight years, the DOJ and SEC have brought over 275 criminal and civil Foreign Corrupt Practices Act (FCPA) actions and secured over $7 billion in monetary penalties. Following this period of sustained activity, the guide no...

In California, the "pay-when-paid" contract language typically found in general contractor’s subcontractor agreement may no longer be enforceable. A contract provision requiring a subcontractor to wait until the general contractor concluded its litigation with the owner before it could seek payment on a payment bond was held unenforceable as against public policy in a recent appellate court decision, Crosno Construction, Inc. v. Travelers Casualty and Surety Company of America (2018) WL 4183622...

Can a breach of one contract give rise to liability for lost profit on a related contract? Or is the loss too "remote"? A Privy Council decision from Monday of this week addressed this issue in the context of a design, build, and operate (DBO) form of procurement. ...By: White & Case LLP

On June 29, 2020, the Japan Fair Trade Commission (“JFTC”) issued a draft of amendments to relevant cabinet orders and rules (“Drafts”) in accordance with the amendments to the Anti-Monopoly Act (“AMA”) previously passed in June 2019 (“2019 AMA Amendments” or “Amendments”). The JFTC is seeking comments from the public. Comments are due by July 28, 2020....By: White & Case LLP