Department of Labor Interprets Regulations Concerning Production of Audio Recordings and Transcripts of Phone Calls in Adverse Benefit Determinations
Perkins Coie LLP Blogs
Latest from Perkins Coie LLP
Developer Established a Prima Facie Case That Project Opponents Lacked Probable Cause and Acted with Malice in Pursuing CEQA Litigation
Sovereign Immunity Barred Quiet Title Suit Against Indian Tribe
The U.S. Department of Labor Proposes an Increased Minimum Wage for Workers on Government Contracts
On July 21, 2021, the U.S. Department of Labor announced a “ Notice of Proposed Rulemaking to establish standards and procedures to implement and enforce Executive Order 14026, ‘Increasing the Minimum Wage for Federal Contractors’, signed by President Biden on April 27, 2021.” The proposed rule would:…
10 Nuggets from BlackRock’s 2021 Stewardship Report
We’ve now got our hot little hands – well, my hands aren’t little – on BlackRock’s 2021 Investment Stewardship report and it’s weighing in at 76 pages. Yes, there is an Executive Summary – but it’s 15 pages long – so I’m going to spoon-feed you with these 10 nuggets:
Stewardship team consists of nearly 70 analysts that work across 55 markets. Numbers below cover all of these markets, which means some may not be…
Updated 07.21.2021: Digital Asset SEC Timeline
4 Things to Consider When a Director Mulls Leaving the Board
Following up on my blog about directors departing when the going gets tough, let me back up a little and comb through what might go through a director’s mind before deciding to leave a board. The director is close to the edge. The crisis is unrelenting. Both mentally and physically. It’s taking over from their job and other board service. The director’s significant other can’t take the complaining anymore. The director thinks a departure is…
The Loneliness of Making the Materiality Decision
You’re sitting in your office staring at your fern when it dawns on you. It’s all you, dude. The buck stops here.
You remember the law school lessons. TSC Industries v. Northway in 1976. That case has its own Wikipedia page, for heaven’s sake. “An omitted fact is material if there is a substantial likelihood that a reasonable shareholder would consider it important.” And then there’s Basic v. Levinson in 1988 that reiterated the…
Recent Federal Court Decisions Creating Uncertainty Around CCPA Standing
On June 25, 2021, the U.S. Supreme Court in TransUnion LLC v. Ramirez (No. 20-297, slip op.) clarified that for standing purposes in federal courts, an important difference exists between (i) a plaintiff’s statutory cause of action to sue over a violation of law, and (ii) a plaintiff suffering concrete harm because of the violation of law. The Court stated that “an injury in law is not an injury in fact” and held that only…
Fintech Legal Report—Week of July 16
Weekly Fintech Focus
President Biden issues an executive order on competition with implications on open banking, UDAAP enforcement, and pricing disclosures.
Federal banking regulators seeking to standardize guidance on third-party risk management, seek public comment.
FFIEC updates and expands the Operations Booklet of its IT Examination Handbook to address technology risk management expectations for cloud computing and other evolving technologies.
FinCEN issues a list of AML priorities as well as considers engaging in a no-action…