News & Publications


August 15, 2012

Jad Davis co-authors article for Westlaw Journal - Environmental, August 15, 2012, Volume 33, Issue 2.

August 2, 2012

Tax-exempt and certain types of tax-advantaged bonds such as build America bonds (BABs) and qualified tax credit bonds are subject to federal tax rules designed to ensure that proceeds of such bonds are spent diligently for the purposes for which the bonds were issued. In this newsletter we highlight the basic rules governing the timing of expenditure of tax-advantaged bond proceeds, and considerations to keep in mind when bond proceeds remain unspent.

July 24, 2012

The National Labor Relations Board (“Board”) continues to take aggressive actions to regulate both union and non-union employers. Several recent actions by the Board are causing concern that an expanded use of federal jurisdiction by the Board will significantly impact nonunionized employers.

July 20, 2012

Last week the United States Commodity Futures Trading Commission (CFTC) issued final rules applicable to swap transactions (including interest rate swaps). Under the new rules, each swap transaction must be “cleared” by a derivatives clearing organization (DCO) – in which the DCO essentially takes the place of the counterparty to the transaction thereby mitigating any credit risks of dealing with such counterparty. However, companies are permitted to skip this requirement if they qualify for the so-called “end-user” exception. The end-user exception requires, among other things, the company’s board of directors (or authorized committee thereof) to annually adopt resolutions authorizing the company to enter into transactions that are not cleared.

July 18, 2012

Tax-exempt and certain types of tax-advantaged bonds (such as Build America Bonds or qualified tax creditbonds) may lose their tax-advantaged status if the proceeds of the bonds or the bond-financed facilities are used in thetrade or business of private persons and paid from private sources or secured by private property. In this newsletter wehighlight the basic rules in the context of post-issuance leases of bond-financed property to third parties.

July 10, 2012

The federal False Claims Act (FCA), a Civil War era federal statute intended to penalize the submission of false claims to the United States, has traditionally been employed against participants in the most prominent federal programs, such as health care providers and federal contractors. In recent years, however, federal prosecutors and private whistleblowers utilizing the FCA’s powerful damages and penalty provisions (including treble damages, up to $11,000 per claim and attorneys fees) have recently turned their focus to banks, mortgage companies, educational providers and other lenders.

June 29, 2012

On June 28, 2012, the Supreme Court ruled that the Patient Protection and Affordable Care Act  (“PPACA”) is constitutional.

June 18, 2012
Last week the SEC issued final rules regarding the independence of compensation committee members and their advisors. However, the actual independence standards for committee members (really the key aspect of the rules) are delegated to the stock exchanges to propose within 90 days and finalize within a year. For more information, read this client alert.
June 22, 2012

On June 18, 2012, the United States Supreme Court resolved a split between the Second and Ninth Circuits, finding a pharmaceutical sales representative qualifies as an exempt outside salesperson under the Fair Labor Standards Act (“FLSA”).

June 12, 2012

In April, the Federal Communications Commission (FCC) adopted a Further Notice of Proposed Rulemaking (Further Notice) to kick-start this Administration’s attempt to reform the FCC’s existing Universal Service Fund (USF) contribution rules in implementing the new Connect America Fund (CAF).

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