Headlines that Matter for Companies and Executives in Regulated Industries
The Corporate Transparency Act (CTA) became effective on January 1. The CTA creates a new national database of companies, maintained by the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), to facilitate the government’s law enforcement and national security efforts.
Proposed bills at the federal and state level were announced January 10, both intended to protect recording artists and the music industry from unauthorized “soundalike” vocals created using artificial intelligence (AI) technology.
Critical minerals — the lithium, graphite, cobalt, manganese, and other key minerals that are later processed into battery-grade chemicals — represent the essential ingredients in any electric vehicle (EV) battery.
We chose to include a discussion of this important but lesser understood policy area because of the likelihood of their impact — both adverse and positive — on many companies’ procurement and production plans.
Aluminum is clearly an important material for the industry as there is an objective for making vehicles as light as possible. Aluminum issues may start with Tariff Classification and Country of Origin questions, and can lead to more complex issues, including Section 232 tariffs or other high-tariff trade barriers.
For readers who may not be fully apprised of what these tariffs are, we offer a short summary.
The United States-Mexico-Canada Agreement (USMCA), in many ways, can be a game changer for many automotive companies. First and foremost, eligibility of products deemed USMCA compliant benefit from zero US import tariffs.
The Electric Mobility industry is on track for another exciting year. However, current and forthcoming US agency regulations continue to inject confusion and costs in critical supply decisions, for which legal tools can provide near- and long-term solutions.
Les Jacobowitz, Alan S. Dubin, Brooke Fodor, Megan (Woodward) Daily, Malia K. Benison, Matthew R. Bentley
This constitutes the third in a four-part series that discusses the practice of repledging (sometimes referred to as “rehypothecation”), how standard agreements allow for repledging, the treatment of repledging under current law, the potential pitfalls of which borrowers should be aware, and how borrowers can protect themselves going forward.
D. Jacques Smith, Randall A. Brater, Michael F. Dearington, Nadia Patel, Elizabeth Satarov, Laura Zell
Headlines that Matter for Companies and Executives in Regulated Industries
Nuclear power has long been a core component of the Illinois energy sector. A new law seeks to enable nuclear power to play an increased role in the energy transition by allowing construction of new “small modular reactors” in the state.
On December 18, the US Food and Drug Administration (FDA) announced the availability of the Cosmetics Direct electronic submission portal and publication of final guidance for industry on cosmetic facility registration and cosmetic product listing.
The US Department of the Treasury (Treasury Department) and Internal Revenue Service (IRS) recently published proposed regulations under Section 4966 to provide additional guidance on several issues related to creating and administering a donor-advised fund (DAF).
In Kim v. Tinder, Inc., No. 22-55345 (9th Cir. Dec. 5, 2023), the Ninth Circuit recently vacated a $5.2 million class action settlement between plaintiff Lisa Kim and Tinder, Inc., finding that Kim was inadequate to represent the class.
Most foreign nationals living in the United States in temporary status (not green card holders) can only reenter the United States after international travel if they have a current visa in their passport.
For better or worse, generative artificial intelligence (GenAI) is already transforming the way we live and work. Within two months of its initial release to the public, ChatGPT reached 100 million monthly active users, making it the fastest-growing consumer application in history.
David R. Hamill, Angela M. Santos, Birgit Matthiesen, Mario A. Torrico, Lucas A. Rock, Kimia Pourshadi
Recent government actions illustrate that US-China trade relations will continue to be a focus as the United States enters an election year.
Nancy A. Noonan, Diana Dimitriuc Quaia, Leah Scarpelli, Jessica DiPietro, Yun Gao, Mario A. Torrico, William G. Stroupe II
On December 29, 2023, the US Glass Producers Coalition (Petitioner), together with the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial Service Workers International Union, filed antidumping duty (AD) and countervailing (CVD) petitions on certain glass wine bottles from China, Mexico, and Chile.
As we discussed in our September 25 alert, Everybody’s Got Something to Hide Except Me and My Monkey: IRS Issues Moratorium on Processing New Employee Retention Credit Claims, the Internal Revenue Service (IRS) previously indicated that it was finalizing details for a settlement program for repayments for those who received an improper employee retention credit (ERC) payment. On December 21, 2023, the IRS provided details of this new settlement program (the ERC Voluntary Disclosure Program).
Merry and Bright: Health Canada Recalls Artificial Christmas Trees for Potential Burn or Fire Hazard
For folks who can’t wait for Christmas, when to put up their tree can be a dilemma. Should they wait until after Thanksgiving? December 1? Or throw all caution to the wind and put up their decorations as soon as the last trick-or-treater has passed by?
On December 21 President Biden signed the Foreign Extortion Prevention Act (FEPA) as part of the Fiscal Year 2024 National Defense Authorization Act.
ArentFox Schiff’s clients report being inundated with notices from registered agents and other service providers to comply with the Corporate Transparency Act (CTA), a new law that will require many existing and newly formed entities to register with and disclose beneficial ownership information to the US government’s Financial Crimes Enforcement Network (FinCEN) beginning on January 1, 2024.
The US Department of Health and Human Services (HHS) and Federal Trade Commission (FTC) have distinct yet intersecting roles in regulating business practices involving individuals’ health information.
The Centers for Medicare and Medicaid Services (CMS) continues to take steps implementing the Inflation Reduction Act of 2022 (IRA). Newly revised guidance issued on December 14, 2023, makes notable changes and clarifications to CMS’ previous guidance released earlier this year.