Tag Archives: Financial Services Law
IRS Extends Transition Relief for Puerto Rico Qualified Plans to Participate in U.S. Group Trusts and Deadline to Transfer Assets
Posted in the National Law Review an article by attorney Nancy S. Gerrie and Jeffrey M. Holdvogt of McDermott Will & Emery regarding U.S. employers with qualified employee retirement plans that cover Puerto Rico: On December 21, 2011, the U.S. Internal Revenue Service (IRS) issued Notice 2012-6, which provides welcome relief for U.S. employers with qualified employee retirement plans that cover Puerto Rico …
The Credit Mark Predicament: A Bank Recapitalization Hurdle
Recently posted in the National Law Review an article by The Financial Institutions Group of Schiff Hardin LLP regarding community banks are searching for capital: Many community banks are searching for capital either as a cushion to cover credit losses, to meet higher capital standards set by regulatory enforcement actions, or to support balance sheet growth driven …
Beware of Online Applications and Background Check Authorizations
Posted in the National Law Review on December 15, 2011 an article by Luis E. Avila, Nancy L. Farnam, Richard D. Fries, Jeffrey T. Gray, Jr., Richard A. Hooker and David E. Khorey of Varnum LLP regarding class actions against employers’ conducting background checks: An increasing number of employers have been recipients of proposed class actions alleging that the way they conduct background …
Google, Microsoft Assume Roles of Judge, Jury and Executioner on the Web
Published December 6, 2011 in The National Law Review an article by Nicole Kardell of Ifrah Law regarding Google, Yahoo! and Bing have suspended their accounts with hundreds of advertisers and agents associated with mortgage programs under federal investigation: Google, Yahoo! and Bing have suspended their accounts with hundreds of advertisers and agents associated with mortgage programs under …
Wisconsin Eliminates Income Tax Disparity on Health Coverage for Adult Children
Posted on November 9, 2011 in the National Law Review an article by attorneys Kelli A. Toronyi, Charles P. Stevens and Kirk A. Pelikan of Michael Best & Friedrich LLP regarding Wis. Act 49.: On November 4, 2011, Governor Walker signed into law 2011 Senate Bill 203 now known as 2011 Wis. Act 49. The bill, which received large bipartisan support among Wisconsin legislators, exempts …
OSHA Seeking Comment on SOX Whistleblower Complaint Rules
Posted in the National Law Review an article by attorney Virginia E. Robinson of Greenberg Traurig regarding OSHA seeking public comment on interim final rules that revise its regulations on the filing and handling of Sarbanes-Oxley Act (SOX) whistleblower complaints The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) is seeking public comment on interim …
Q&A / Fee Disclosure Requirements Top the List of Issues Facing Retirement Plan Sponsors
Recently posted in the National Law Review an article by f Much Shelist Denenberg Ament & Rubenstein P.C. Much Shelist spoke toNorman D. Schlismann (Senior Managing Director) and David H. Dermenjian (Senior Vice President) in the Retirement Plan Advisory Group about current issues facing 401(k) plan sponsors. In today’s turbulent economy, 401(k) defined-contribution plans are under the microscope. Plan participants and government agencies …
How Lessors and Lenders Can Audit the Eurocontrol Accounts of Lessees
Recently posted in the National Law Review an article by attorney John I. Karesh of Vedder Price P.C. regarding lessors will no longer receive an aircraft operator’s statement of account from Eurocontrol via e-mail. Eurocontrol has implemented a change to the way lessors, lenders and security trustees can audit the Eurocontrol accounts of lessees. Effective September 1, 2011, lessors will no longer receive an …
Second Circuit’s Citigroup Decision Endorses Presumption of Prudence, Upholds Dismissal of Disclosure Claims
Posted this week at the National Law Review by Morgan, Lewis & Bockius LLP regarding the decision that employer stock in a 401(k) plan is subject to a “presumption of prudence” that a plaintiff alleging fiduciary breach: In a much-anticipated decision, the U.S. Court of Appeals for the Second Circuit joined five other circuits in ruling that …
Dodd-Frank Update — Several Regulatory and Legislative Proposals of Note
Recently posted in the National Law Review an article by attorneys Sylvie A. Durham, Genna Garver and Dmitry G. Ivanov of Greenberg Traurig, LLP regarding the OCC, FDIC and SEC’s proposed a joint rule implementing theVolcker Rule: REGULATORS PROPOSE VOLCKER RULE: On October 11, 2011, the Office of the Comptroller of the Currency, Treasury (OCC), Board of Governors of the Federal Reserve System (Board), Federal …
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