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Crumpets, Congress, Cannabis and Crypto: Top 10 Issues for Financial Services in 2019 – Part 2
Dykema, December 2018

Continuing froma previoiuspost, here is the second half of our “Top 10 List” of key issues U.S. financial institutions, non-banks providing financial services, and financial technology (fintech) entities should plan for and watch throughout 2019...

The NFUS Joint Venture Hub: Match-Making for a New Agricultural Future
Shepherd and Wedderburn LLP, December 2018

The National Farmers Union, Scotland (NFUS) Joint Venture Hub is designed to act as a match-maker, bringing together enterprising individuals – some of whom have land and some of whom don’t – with a view to pooling their resources to farm together for profit. The Hub can be accessed online via this link. One of the possible vehicles for pursuing a joint venture is by entering into a share farming agreement...

PBJ: The Sandwich that Bites Back
Dykema, December 2018

Several years ago the U.S. Centers for Medicare and Medicaid Services (CMS) required skilled nursing facilities (SNFs) to report nurse staffing levels using the SNF’s payroll records, in an effort to obtain more accurate information about actual daily nurse presence in SNFs. CMS has collected this Payroll Based Journal (PBJ) information for a few quarters now...

End to Foreign Ownership Cap of Brazilian Airlines
Veirano Advogados, December 2018

The Brazilian Federal Government published, on December 13, 2018, Medida Provisória No. 863/2018 ("MP 863/18"), a new rule that amends Federal Law No. 7,565, of December 19, 1986 (Brazilian Aviation Code) and lifts the existing restrictions to foreign capital shareholding in Brazilian air transportation companies. As a result, foreign investors are from now on able to hold up to one hundred percent (100%) of the voting capital of Brazilian airlines...

Agreement on The New EU Cybersecurity Act
Heuking Kühn Lüer Wojtek, December 2018

I. Introduction According to a Bitkom study from September 2018, German industry has incurred a total loss of 43 billion euros as a result of cyberattacks over the past two years. Seven out of ten industrial companies have been victims of such attacks during this period. At EU level, there has recently been a growing discussion on how to face this mounting danger...

Industrial Hemp - Now Legal and Unregulated in Michigan
Dykema, December 2018

On November 6, 2018, Michigan voters approved Proposal 1 and made Michigan the twelfth U.S. jurisdiction to legalize recreational marijuana. The Michigan Regulation and Taxation of Marihuana Act (MRTMA) went into effect December 6. What has been lost in all the smoke from the past several weeks is how MRTMA impacts the regulation of industrial hemp...

FDA Releases Medical Device De Novo Pathway Proposed Rule
Dinsmore & Shohl LLP, December 2018

On December 7, 2018, the Food and Drug Administration (FDA) released a Proposed Rule that clarifies procedures and criteria for the de novo medical device clearance pathway.  In a statement accompanying the Proposed Rule, FDA Commissioner Scott Gottlieb stated FDA believes the Proposed Rule will help facilitate classification of innovative low- to moderate-risk novel medical devices by providing more structure, clarity, and transparency to the de novo pathway...

Michigan Legislature Amends State Minimum Wage and Paid Sick Leave Acts
Dykema, December 2018

On December 4, 2018, the Michigan Legislature pared back the minimum wage and paid sick leave laws it passed last September in an effort to preclude those issues from being on the November ballot. Had the Legislature not adopted the language of the ballot initiatives legislation, the measures would have been on the November ballot and it would have needed a vote of three-fourths of each house to amend the law if adopted by the voters...

PBM Contracting Transparency: Pennsylvania Auditor General Releases PBM Report
Dinsmore & Shohl LLP, December 2018

On December 11, 2018, Pennsylvania Auditor General Eugene A. Depasquale released a long-awaited report discussing the role of pharmacy benefit managers (PBMs) in Pennsylvania’s health care system...

Crumpets, Congress, Cannabis and Crypto: Top 10 Issues for Financial Services in 2019 (Part 1 of 2)
Dykema, December 2018

As an eventful 2018 comes to a close, we look ahead to 2019 and our “Top 10 List” of key issues U.S. financial institutions, non-banks providing financial services, and financial technology (fintech) entities should plan for and watch throughout the upcoming year. The first five items on the list are discussed below, and the remainder of our list will follow shortly in another post...

Amendment of The General Rules on Sales at a Loss and Removal of Franchiser and Distance Sales Company Registers
Veirano Advogados, December 2018

The government has approved, by royal decree-law, a legal reform introducing a number of changes to the Retail Trade Law. Royal Decree-Law 20/2018, of December 7, 2018, on urgent measures to foster economic competitiveness in the industrial and trading sectors in Spain, published in the Official State Gazette last Saturday, December 8, amends Retail Trade Law 7/1996, of January 15,1996...

Illinois’ BIPA’s Rollercoaster Ride to the Illinois Supreme Court
Dykema, December 2018

Over the last several years, the emphasis on privacy and data protection has grown significantly. With the amount of data collected by companies and technology skyrocketing, the need to protect personal information has been at the forefront of states’ legislative agendas. While all 50 states now have breach notification statutes, states are now taking a closer look at issues such as tracking online behavior and the use of biometric data...

EU Publishes Amendments to VAT Legislation Affecting Intra-Community Trade
Garrigues, December 2018

Call-off stock or consignment stock is specifically regulated, changes are introduced into chain sales, and requirements are laid down for applying the exemption to intra-Community supplies of goods...

Develop and Be Damned is Not a Good Strategy
Shoosmiths LLP, December 2018

The Court of Appeal has held that public policy interests do not justify the release of restrictive covenants where a developer deliberately builds houses on land in breach of those covenants. Background Millgate, a property developer, obtained planning permission for, and then built, houses and flats on a development site. Part of the land was subject to a restrictive covenant that prevented residential development. Millgate was aware of the covenant but chose to ignore it...

Where Does the Money Go?
Dykema, December 2018

Medicare and Medicaid certified nursing homes are frequently required to pay fines (called “civil money penalties” or “CMPs”) to the U.S. Centers for Medicare and Medicaid Services (“CMS”) when government surveyors find them out of compliance with the Requirements for Participation for Long-Term Care Facilities. It is not uncommon for CMS to assess CMPs in the hundreds of thousands of dollars...

New Tax Measures Revealed in the Coalition Agreement Published by the Future Government - ATAD Bill Amendments
Arendt & Medernach, December 2018

In December of 2018, the coalition partners finalised their governing plan for the next 5 years in a coalition agreement (“Coalition Agreement”) which was signed the same day. The Coalition Agreement confirms the ambition, amongst others, to pursue a responsible, sustainable and innovative financial policy based on sound public finances...

OIG Puts SNF Involuntary Discharges and Transfers Under the Microscope
Dykema, December 2018

Increased federal oversight may be on the horizon for skilled nursing facility involuntary transfers and discharges. The Office of Inspector General (OIG) included in its 2019 Work Plan reviewing SNFs’ involuntary transfers and discharges, focusing on reviewing whether State agencies have effectively investigated and enforced proper transfer and discharge procedures...

Preliminary Opinion of EU Court of Justice Suggests that United Kingdom Could Still Avoid Brexit
Arendt & Medernach, December 2018

In December of 2018, EU Court of Justice Advocate General Campos Sánchez-Bordona concluded that the United Kingdom may unilaterally withdraw its intention to leave the European Union before 29 March 2019 and therefore remain in the EU. This is so long as the revocation notice is made before the formal conclusion of a withdrawal agreement and it respects the UK’s constitutional requirements...

Are You at Risk of Having Electronic Data Seized When Traveling Abroad?
Dykema, December 2018

Executives and in-house counsel should be aware that traveling with sensitive data can lead to its seizure—with potentially severe consequences worldwide. Recently, Parliament in the United Kingdom seized from a traveling executive a USB drive containing data that had been produced in a United States lawsuit between Six4Three, a software company, and Facebook. Put simply, that data was in the wrong place at the wrong time...

Executive Session Privilege: There is No Such Thing
Dinsmore & Shohl LLP, December 2018

Often, board of education members believe what happens in executive session, stays in executive session. However, you and your board’s members, both new and old, are well-served to remember that many issues, including those involving personnel, discussed in executive session are communications that may be subject to discovery in a deposition or other legal proceeding by an affected employee...

Supreme Court Ruling on Critical Habitat in Dusky Gopher Frog Case
Schwabe, Williamson & Wyatt, December 2018

The Supreme Court has handed down one of the most anticipated Endangered Species Act (ESA) rulings in recent years. In Weyerhaeuser Co. v. U.S. Fish and Wildlife Serv., the Supreme Court unanimously overruled the Fifth Circuit Court of Appeals, holding that the Fish and Wildlife Service can only designate property that is “habitat” as critical habitat under the ESA...

EU: Geo-Blocking Regulation Enters Into Force
Simonsen Vogt Wiig AS, December 2018

Regulation (EU) 2018/302 of February 28, 2018, on addressing geo-blocking and other forms of discrimination based on customers' nationality, place of residence or place of establishment within the internal market (the "Regulation") came into force, December 3, 2018. The Regulation seeks to increase access for customers in the EU and EEA to goods and services by preventing unjustified geo-discrimination due to the customer's nationality, place of residence or establishment...

Confidentiality Under Renewed Focus
Afridi & Angell, December 2018

The UAE federal government has recently issued a raft of important legislation. The raft addresses and updates areas of law that are key to businesses in the jurisdiction. Amongst this legislation is Federal Decree-Law 14 of 2018 concerning the central bank and the organisation of financial institutions and activities (the New Banking Law)...

New California Employment Laws to Take Effect in January 2019 and Beyond
Dykema, December 2018

As in previous years, the California legislature kept busy in 2018. As a result, a number of new and noteworthy employment laws will go into effect on January 1, 2019, and beyond. Much of the legislation stems from the #MeToo movement by strengthening harassment and discrimination protection, imposing broader anti-harassment training obligations, updating lactation accommodations and mandating female presence on boards of public companies...

Starwood Data Breach Serves as Wakeup Call to Tennessee Bars, Hotels and Restaurants
Waller, November 2018

We suspect that thousands of Tennessee restaurants, hotels, bars and other hospitality businesses gather personal information from their customers for marketing purposes.   It’s just a birthdate, address, anniversary, spouse’s name – good stuff to know, right? That’s all fine and dandy until some hacker steals the information...

SEC Takes Aim at Cybersecurity Disclosures
Dykema, December 2018

In February of this year, the Securities Exchange Commission issued its updated Statement and Guidance on Public Company Cybersecurity Disclosures. In April, the SEC issued an Order that, among other things, levied a $35 million fine against Yahoo! Inc. for failing to properly report a 2014 data breach. These actions support the view that the SEC is consciously committing attention and resources to cybersecurity issues affecting public companies...

Why Ireland Deserves Its Place as a Global Leader in the Aviation Sector
A&L Goodbody, November 2018

Ireland is a key global hub for aviation finance and leasing, having almost 50 years' experience in the sector. Recent reports forecast that the Irish aviation sector will see growth of over 20 per cent in aircraft assets from 2016 to 2021. Aviation finance and leasing is a global industry with investment into Ireland mainly coming from the US, Europe and Asia. Ireland’s aviation finance and leasing sector was a 'disruptive' industry in Ireland long before the term was even coined...

Orientation Guide From The German Data Protection Supervisory Authorities For Direct Marketing
Heuking Kühn Lüer Wojtek, November 2018

Since the GDPR has been in force, almost every company has, among other things, dealt with issues of the permissibility of direct marketing and other marketing activities under data protection law. At their data protection conference on Nov. 07-08, 2018, the German data protection supervisory authorities issued a new "orientation guide" on this topic (as of November 2018)...

How to Prepare for the 2019 Nursing Home Compliance Program Mandate
Dinsmore & Shohl LLP, November 2018

The deadline for meeting the previously issued nursing home compliance mandate is approaching. The Centers for Medicare & Medicaid Services (CMS) issued the mandate in 2016 and gave facilities three years to become compliant. On November 28, 2019, skilled nursing facilities (SNF) and nursing homes will be required to adopt and implement a compliance program as a condition for participation in Medicare and Medicaid...

International Scope of the GDPR
Heuking Kühn Lüer Wojtek, November 2018

The large number of vague terms as well as provisions requiring interpretation in the GDPR create significant application issues for companies. However, it becomes even more of a challenge if companies not established in the EU want to review whether the GDPR is applicable to them. Generally speaking, the European legislator set themselves the goal of creating the most extensive territorial scope of the GDPR possible...

Department of Education Proposes New Title IX Regulations
Dinsmore & Shohl LLP, November 2018

Educational institutions (“recipient” or “recipient institutions”) have been waiting for the Department of Education to issue formal Title IX regulations after it issued interim guidance in September 2017.  This interim guidance rescinded previous Obama-era guidance that called for strict enforcement of Title IX and indicated that new formal guidance would be forthcoming...

What's Past is Prologue: Applying Lessons from the Financial Crisis to the Future of eMortgage and eNote Litigation
Dykema, November 2018

In the fallout from the 2008 financial crisis, courts across the United States were inundated with litigation challenging the legitimacy of mortgages, notes, and the records purporting the transfer or assign them...

New Anti-Money Laundering Law
Afridi & Angell, November 2018

The new anti-money laundering (AML) law of the UAE took effect at the end of October 2018. Containing features recommended by the Financial Action Task Force (FATF), the new law introduces subtle but important changes to the AML landscape in the UAE. The new law was enacted as Federal Decree-Law 20 of 2018. The previous AML law was Federal Law 4 of 2002, as amended by Federal Law 9 of 2014, and the implementing regulations that were promulgated pursuant to Cabinet Resolution 38 of 2014...

The Luxembourg Registers of Beneficial Owners ("BOs") Expected Soon, So Get Ready!
Arendt & Medernach, November 2018

The enactment of EU Directive 2018/843 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (the "5th AML Directive") (AML 5 – key aspects and changes) has prompted the Luxembourg government to accelerate the final implementation process of EU Directive 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist

CMS Announces Section 1115 Waiver Allowing Medicaid Payments for Inpatient Mental Health Treatment
Dinsmore & Shohl LLP, November 2018

In a letter to state Medicaid directors on Nov.13, 2018, the Secretary of the U.S. Department of Health and Human Services, Alexander Azar, announced a new demonstration opportunity that will allow states to provide improved care for adults with a serious mental illness (SMI) and children with serious emotional disturbance (SED)...

Serbia Enacts a New Data Protection Law
Karanovic & Nikolic, November 2018

In light of the new EU data protection scheme, shaped by the GDPR, Serbia has enacted a new Data Protection Law earlier this year, with its' applicability postponed for 21 August 2019. The new law was long-awaited: it has been 10 years since the existing law was passed, which was even at that moment already outdated (e.g. it recognized only consent in the written form and almost completely restricted data transfers to non-European countries)...

BIS Requests Public Comment on Emerging Technologies to be Subject to Increased Export Controls
Dinsmore & Shohl LLP, November 2018

On Nov. 19, 2018, the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce issued an Advance Notice of Proposed Rulemaking[1] requesting public comment on criteria for identifying emerging technologies essential to U.S. national security that would be subject to increased export controls...

What do Hurricanes, Tornadoes, Blizzards, Floods, Wildfires and Earthquakes all have in Common?
Dykema, November 2018

Obviously, they are all natural disasters that climate scientists believe will increase in severity and intensity in the coming years. And they are all events that nursing homes and assisted living facilities (and all Medicare/Medicaid certified health care providers) are legally required to prepare for in order to protect their residents and patients. More pointedly, though, they are all events which the U.S...

Importance of the Effective Collection of Real Mortgage Loan
Morgan & Morgan, November 2018

The loan agreement secured by mortgage is a legal and financial concept that has undoubtedly been a pillar of world economic progress. Hence, the Supreme Court of Justice of Panama in some of its judgments has given it its importance as part of the economic public order...

FDA Proposes Changes to Clinical Trial Informed Consent Rules
Dinsmore & Shohl LLP, November 2018

On November 15, 2018, the Food and Drug Administration (FDA) published a Proposed Rule, which, if finalized, will allow an institutional review board (IRB) to waive or alter certain informed consent requirements if a clinical trial poses minimal risk to human subjects and includes appropriate safeguards to protect the rights, safety, and welfare of those human subjects...

GDPR Non-Compliance May Adversely Affect the Outcome of the Annual Financial Statement Audit
Heuking Kühn Lüer Wojtek, November 2018

When auditing annual financial statements, auditors are required to draw attention to risks that potentially threaten the company. Such risks can result for example from failure to implement the EU General Data Protection Regulation (GDPR) that has been in force since May 25, 2018. Given the substantial fines envisaged in the GDPR, these risks can result in high provisions, in the worst case in refusal on the part of the auditor to issue an unqualified audit opinion...

The New Foreign Direct Investment Law - United Arab Emirates
Afridi & Angell, November 2018

News of a new federal law on foreign direct investment in the UAE has many people asking: “Does this mean I can now form a new company with majority foreign ownership?” The answer is the same as previously, “No, not yet”. Companies incorporated in the UAE require a minimum of 51 percent UAE ownership. As an exception to this rule, 100 percent foreign ownership is permitted in free zones. The new law may lead to further exceptions in the future...

The Battle Between The Taxi Industry and The e-Hailing Operators
Shearn Delamore & Co., November 2018

The introduction of the e-hailing system had changed the landscape of public transport in Malaysia and, at the same time, intensified the competition in the taxi industry. Whilst the taxi industry was subject to specific regulatory requirements there was previously no express law to regulate the operation of the e-hailing system...

OIG Ramping Up Enforcement Actions Against Dental Practices
Dinsmore & Shohl LLP, November 2018

In the last quarter of 2018, the Office of the Inspector General (OIG) announced that ImmediaDent of Indiana, LLC (ImmediaDent), which operates nine dental care practices, and Samson Dental Partners, LLC (SDP), which provides administrative support to Immediadent, have agreed to pay the United States and the state of Indiana $5.1 million to resolve allegations that they improperly billed Indiana’s Medicaid program...

Inland Revenue Board Issues Updated Tax Investigation Framework in 2018 - Malaysia
Shearn Delamore & Co., November 2018

  “Tax investigation” entails an examination of a taxpayer’s business books, records, and documents as well as his personal documents to ensure that the correct amount of income is reported and tax is calculated as well as paid by the taxpayer...

DOL Cancels 80/20 Rule for Tipped Employees
Dinsmore & Shohl LLP, November 2018

In the last quarter of 2018, the Department of Labor (DOL) issued an opinion letter ending what had become known as the “80/20 rule” for tipped employees. The new rule, which eases restrictions on an employer’s application of the tip credit, is a reissuance of a 2009 opinion letter that had been supplanted by contrary guidance since 2011...

The Valuers, Appraisers and Estate Agents (Amendment) Act 2017 - Malaysia
Shearn Delamore & Co., November 2018

The Valuers, Appraisers and Estate Agents (Amendment) Act 2017 “Amendment Act” came into force on in the beginning of 2018.The Act amended the Valuers, Appraisers and Estate Agents Act 1981 “Principal Act”...

Application for an Anti-Suit Injunction: Dismissed
Afridi & Angell, November 2018

In an order dated at the end of 2018, the DIFC Court accepted that a party seeking an anti-suit injunction against proceedings in a foreign court must show that proceeding before the foreign court is or would be “vexatious or oppressive” to that party...

The Importance of Registering A Franchise With the Registrar of Franchises - Malaysia
Shearn Delamore & Co., November 2018

This case highlights the importance of registering a franchise with the Registrar of Franchises and the consequences of not doing so. In particular, the effect and applicability of section 6(1) of the Franchise Act 1998 (“FA 1998”) are discussed. Facts The subject matter was “Dr. Fong’s Method” of teaching mathematics to students in primary and secondary school, which was developed by Dr. Fong Ho Kheong (“Dr. Fong”). Dr...

Proposed Rule Would Require Ohio Providers to Accept Standard Authorization Form for Use and Disclosure of Protected Health Information
Dinsmore & Shohl LLP, November 2018

Recently, the Ohio Department of Medicaid (ODM) proposed the adoption of Ohio Administrative Code 5160-1-32.1 (the Proposed Rule), which provides two standard authorization forms for the use and disclosure of protected health information (PHI). The standard forms are designed to comply with both the HIPAA privacy rule (45 C.F.R. § 164.508) and 45 C.F.R. Part 2, which covers certain substance abuse treatment information...

 

 

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