October 2015

Business News Digest – October 2015

5 min

Venable attorneys produce periodic alerts and newsletters covering a variety of topics and practice areas. For your convenience, we have assembled below a collection of the latest alerts and newsletters from September 2015.

Venable Launches Pair of Employment Law Blogs

Venable launched two new blogs this September that will be of interest to all employers. Class Action Perspectives for Employers focuses on class action lawsuits targeting companies or entire industries. Trade Secrets and Transitions focuses on legal issues related to employee mobility and the protection of trade secrets.

Caveat CEO: Let the Corporate Officer Beware

Reaffirming the old maxim that people commit crimes, not companies, the U.S. Department of Justice issued a policy memorandum that firmly gives top priority to holding individuals accountable for their roles in corporate misconduct. Though the maxim is old write Venable attorneys Geoffrey R. Garinther, W. Warren Hamel, Allyson B. Baker, Joanna P. Breslow Boyd, and Maggie T. Grace, the memorandum issued by DOJ contains new policies with significant implications for both companies and their officers and employees.

Click here to learn about the new policy requirements.

FinCEN Issues Proposed Rule Requiring Investment Advisers to Establish Anti-Money Laundering Programs

On August 25, 2015, the Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking prescribing anti-money laundering (AML) program requirements for investment advisers required to be registered with the U.S. Securities and Exchange Commission. The regulatory environment for investment advisers has changed since the passage of the Dodd-Frank Act in 2010 write Venable attorneys D. E. Wilson, Jr., Michael R. Manley, Ralph E. Sharpe, Andrew E. Bigart, and Samuel D. Boro. FinCEN therefore proposed the current NPRM out of continued concern that money launderers might seek out investment advisers as a way to enter the U.S. financial system.

Click to continue reading about the three key regulatory changes in the proposal.

The Obama Administration Continues to Expand Opportunities in Cuba

On September 21, the Department of Commerce, Bureau of Industry and Security, and the Department of the Treasury, Office of Foreign Assets Control, announced revised regulations further easing restrictions on transactions with Cubans and Cuban nationals involving persons subject to U.S. jurisdiction. Venable attorneys Lindsay B. Meyer, Ashley W. Craig, D. E. Wilson, Jr., Andrew E. Bigart, Carrie A. Kroll, Elizabeth K. Lowe, Amanda C. Blunt, Samuel D. Boro, and Andrew L. Steinberg write that this coordinated action advances liberalized relations with Cuba, supplements the sweeping changes to the Cuba sanctions regime issued earlier this year, and is effective immediately.

Click to find out more about the major changes in the amended regulations.

Additional Articles:

The New DFARS Interim Rule on Network Penetration Reporting and Contracting for Cloud Services: Five Immediate Steps Contractors Can Take to Comply

FDA Issues Second Edition of New Tobacco Product Substantial Equivalence Guidance

FDA Announces Publication of Two Major FSMA Rules: GMP Rules for Human and Animal Food Now Final

FDA Releases Much-Anticipated Menu Labeling Rule Draft Guidance

FDA Issues Proposed Rule to Clarify When Products Made or Derived From Tobacco Are Regulated as Drugs, Devices, or Combination Products

Regulators Target Pension Advance Loans, Healthcare Credit, Deposit Practices, and Offshore Payday Lending; Former Bank Executive Pleads Guilty to Obstructing Examination

Ding-Dong! The DC DOES Zip Code Project Is Dead

NYS Advisory Opinion May Limit a Non-Resident's Ability to Convert Real Estate into an Intangible Asset to Avoid State Estate Tax

Upcoming Events:

Defending Bank Enforcement and FDIC D&O Suits: Latest Cases, Defenses, and Successful Litigation Strategies – Webinar

Tuesday, October 13, 2015 | 12:15 – 2:00 p.m. ET

Looking to avoid being caught in the crosshairs of increased scrutiny by the federal banking regulators, Consumer Financial Protection Bureau, New York Department of Financial Services, FinCEN, the U.S. Department of Justice, and the state Attorneys General? Over the past several years, federal and state enforcement officials have shifted their focus to banks, other financial services providers, directors and officers, and other individuals connected with the financial services industry. Six of the nation’s leading bank defense lawyers and former regulators will take an in-depth look at the priorities at the forefront of government civil and criminal enforcement efforts. They will review the latest cases, analyze litigation strategies and successful defenses.

Click here to register and for more information.

ACC Annual Meeting 2015 – Boston, MA

October 18–21, 2015

Venable is pleased to be a Gold Sponsor of the 2015 ACC Annual Meeting. Several of our attorneys will attend and share their insights and recommendations during this year's meeting. We hope that you will join us at our educational session and at our booth on the show floor.

ACC's Annual Meeting is the world's largest gathering of the in-house counsel community and is a great professional development value. Attendees can earn a year's worth of CLE/CPD credit in just three days, exchange ideas with peers during more than 30 hours of networking events, and gather information from more than 100 law firms and legal service providers.

Click here for details on Venable's educational sessions.

Click here to view the ACC Annual Meeting's entire program.

Venable's 2nd Annual IP Symposium – Washington, DC

Tuesday, October 27, 2015 | 12:00 – 5:30 p.m. ET

Join attorneys from Venable's Intellectual Property Division for our second annual IP Symposium. This informative program has been designed to help in-house counsel and other IP professionals successfully navigate the challenges of an ever-changing environment. Following a keynote luncheon featuring U.S. Representative Darrell Issa (R-CA), distinguished guest panelists with a wide range of IP experience will join attorneys from Venable's global practice for two interactive panel discussions. We will end the day with a networking reception on our rooftop.

Click here for more information and to register.