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Inflation Reduction Act
SEC Proposes Rules for Pay for Performance Disclosure
On April 29, 2015, the Securities and Exchange Commission proposed rules requiring companies to disclose the relationship of executive pay to performance as required by Section 953 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under Dodd-Frank, the...
FTC Obtains $26.8 Million in Disgorgement to Settle Monopolization Claims
On April 17, 2015, the Federal Trade Commission (FTC) entered into a settlement with Cardinal Health, Inc. (Cardinal) to resolve allegations that Cardinal, the largest and in certain areas the sole operator of radiopharmacies, illegally monopolized the market for the...
Reports Connecting Seismic Activity to the Injection of Produced Water
In recent days, the Oklahoma Geological Survey (OGS), Southern Methodist University (SMU) in Dallas, and the U.S. Geological Survey (USGS) have each indicated that they are increasingly convinced that there is a connection between the underground injection of produced water...
BLM Releases Final Rule for Hydraulic Fracturing on Federal Lands; Industry Immediately Files Suit
Brief Overview On March 20, 2015, three years after its initial proposal, the Department of Interior's Bureau of Land Management (BLM) finalized new regulations applicable to hydraulic fracturing activities on federal and Indian lands. BLM previously released a draft proposed...
EgyptERA Expected to Issue Guidelines for the Renewable FiT Program - With a Plot Twist!
Egypt's Egyptian Electric Utility and Consumer Protection Regulatory Agency is expected to issue long-awaited guidelines on special purpose vehicle incorporation. In recent days it has emerged that these guidelines will be more flexible than previously expected. This is expected to...
FERC Enforcement Developments
During the past few months, there have been a number of important developments concerning FERC enforcement matters. FERC Enforcement staff is involved in four cases that are currently in litigation either before a FERC administrative law judge or in Federal...
Year Long Pause Lifted on MLP Qualifying Income Private Letter Rulings - Proposed Regulations to be Issued
Following a year long pause, the IRS announced Friday that it has resumed its review of pending private letter ruling (PLR) requests and is accepting new PLR requests concerning MLP qualifying income under Section 7704(d)(1)(E) of the Internal Revenue Code...
Year Long Pause Lifted on MLP Qualifying Income Private Letter Rulings – Proposed Regulations to be Issued
Following a year long pause, the IRS announced Friday that it has resumed its review of pending private letter ruling (PLR) requests and is accepting new PLR requests concerning MLP qualifying income under Section 7704(d)(1)(E) of the Internal Revenue Code...
Monthly Futures Exchange Issuance Report: February 2015
February's Highlight This month, CME Group announced fines totaling $1.75 million against derivatives broker Newedge USA for violations of exchange rules in certain metal markets over the course of two years. Newedge agreed to the fine pursuant to an offer...
Supreme Court Holds State Regulatory Board Not Immune From Antitrust Laws
On February 25, 2015, the U.S. Supreme Court determined that the North Carolina State Board of Dental Examiners (“Dental Board”) is not shielded from federal antitrust law under the doctrine of state-action antitrust immunity. North Carolina State Board of Dental...
Employment Authorization For Certain H-4 Dependent Spouses
Effective May 26, 2015, the Department of Homeland Security (DHS) is extending eligibility for employment authorization to certain H-4 dependent spouses of H-1B nonimmigrants who are seeking employment-based lawful permanent resident (LPR) status. Eligible individuals include certain H-4 dependent spouses...
Ninth Circuit Holds that Acquisition Violates Antitrust Laws
On February 10, 2015, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court decision finding that the merger of two healthcare providers in Idaho violated antitrust laws. St. Alphonsus Medical Center-Nampa Inc. et al. v. St...
SEC Proposes Rules for Hedging Policy Disclosure
The Securities and Exchange Commission has proposed rules to implement the disclosure of hedging policies as required by Section 955 the Dodd-Frank Wall Street Reform and Consumer Protection Act. If adopted, these rules would require a registrant to disclose, in...
State/Local Bond Proposals in Administration's 2016 Budget
Several proposals affecting tax-exempt bonds were included in the Obama Administration's Budget for FY 2016. As usual, the overall budget proposal has immediately been declared DOA by political pundits. Nonetheless, taking a look at individual proposals can help one get...
Nigeria: Local Content Update for the Oil & Gas Industry
As we reported earlier last year, the Nigerian Oil and Gas Industry Content Development Act 2010 (the "Local Content Act") was enacted to enhance local content in the oil and gas industry and its central aims of developing indigenous skills...