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Employee Benefits & Executive Compensation Blog

U.S. Department of Labor Steps into the Cybersecurity Discussion

By Robert Projansky, Steven Weinstein & Randall Bunnell

April 15, 2021

Formally wading into the cybersecurity discussion for the first time, on April 14, 2021, the U.S. Department of Labor (DOL) posted on its website a suite of new guidance, including Tips for Hiring a Service Provider with Strong Cybersecurity Practices, Cybersecurity Program Best Practices, and Online Security Tips for Participants and Beneficiaries. By way of background, cybersecurity has over the last decade become an area of critical importance to sponsors and administrators…

Corporate Defense and Disputes

A Warning to Cryptocurrency Users from the Justice Department’s Tax Division

By Lindsey Olson

April 14, 2021

As you might expect during tax season, the Justice Department’s press releases seem particularly focused on tax-related issues these days. At the start of this month, DOJ sent a stern reminder to the public that non-traditional currency users should not expect to escape federal tax law enforcement. On April 1, the district court for the District of Massachusetts authorized a “John Doe” Summons to a company called Circle Internet Financial Inc. (“Circle”), allowing the IRS…

Minding Your Business

ICC Expands Automatic Application of Expedited Procedure

By Sophie C. Matamoros

April 14, 2021

ICC arbitrations based on agreements entered into in 2021 and beyond will follow an expedited procedure if the amount in dispute is $3 million or less – up from the previous $2 million or less. This expansion of the automatic applicability of the Expedited Procedure is one of the most significant amendments made to the revised ICC Arbitration Rules 2021, which entered into force on January 1, 2021. It is thus important for parties agreeing…

California Employment Law Update

California Mulls More Job Killer Bills, Major Tax Hikes

By Tony Oncidi & Dylan K. Tedford

April 13, 2021

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Last week, New York announced new tax increases that will subject certain of its residents to higher personal income tax rates than even Californians pay. Before the pages on that bill had cooled, the California legislature was well on its way to showing it would not relinquish its top-of-the-heap status without a fight by proposing a new “wealth tax” on California residents. In response, the California Chamber of Commerce added the following four bills to…

California Employment Law Update

Opening Up To the New Normal

By Kate Gold & Michelle Lappen

April 13, 2021

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With COVID-19 cases falling and vaccination rates increasing, the County of Los Angeles is updating guidance for reopening the economy. Effective Monday, April 5, 2021, Los Angeles County non-essential office-based businesses can now reopen indoors, at 50% capacity, per the new County of Los Angeles Department of Public Health Order of the Health Officer. This revised order was updated as a result of Los Angeles County’s move into the “Orange Tier,” which reflects a …

Law and the Workplace

New York State Issues Updated Travel Advisory; Relaxes Travel Restrictions

By Evandro Gigante, Harris Mufson, Alex Downie & Rebecca Fishbein

April 13, 2021

On April 10, 2021, the New York State Department of Health again updated its COVID-19 Travel Advisory for domestic and international travel. The advisory removes many of the quarantine requirements for domestic and international travelers arriving in New York State and clarifies existing guidance for all travelers. Additional information about the current restrictions on travel to New York State is provided below. Domestic Travel With the exception of healthcare workers (see below), there is no…

Labor Relations Update

Employer’s Policies On Blogging, Solicitation and E-Mail Signature Blocks Lawful, NLRB Rules (For Now, Anyway)

By Mark Theodore, Joshua Fox & Thomas B. Fiascone

April 12, 2021

Over the past few years, the National Labor Relations Board has frequently weighed in on employer’s workplace and employee handbook policies, examining whether an employer’s policy impacts employees’ rights under Section 7 of the National Labor Relations Act. Employers received a needed dose of clarity in Boeing Co., 365 NLRB No. 154 (2017), where the Board set forth rules for interpreting a facially neutral policy, rule or handbook provision. As noted at the time, employers…

Law and the Workplace

DOL and Liquidated Damages: The Breakup Only Lasted 9 Months

By Allan Bloom

April 12, 2021

On April 9, 2021, the U.S. Department of Labor (DOL) rescinded the Trump-era enforcement practice of abstaining from seeking liquidated damages in connection with pre-litigation investigations and settlements of wage and hour claims. In Field Assistance Bulletin No. 2021-2, issued by the Wage and Hour Division’s Principal Deputy Administrator, Jessica Looman, the agency announced that it would revive its policy of seeking liquidated damages from employers in such circumstances. So how did we…

The Capital Commitment

Second Circuit Upholds Insider Trading Conviction, Finding Sufficient Confidentiality Duty and Personal Benefit

By Jonathan Richman

April 12, 2021

Last week, the Second Circuit upheld a criminal conviction for insider trading, holding that signing a Non-Disclosure Agreement (NDA) with a target company created a sufficient duty of trust and confidence to support a conviction. The defendant in United States v. Chow, an executive at a foreign private equity firm, was convicted for tipping a business acquaintance with material non-public information about an impending acquisition, and is a reminder of heightened MNPI risks that…

Minding Your Business

DOJ Continues Price Gouging Enforcement Under the Defense Production Act

By Christopher E. Ondeck, John R. Ingrassia & Nathaniel Miller

April 12, 2021

On April 2, 2021, the acting U.S. Attorney for the District of New Jersey released an update of her office’s efforts to prevent fraud related to the COVID-19 pandemic, noting prosecutions involving the Paycheck Protection Program, the Economic Injury Disaster Loan program, and the Unemployment Insurance programs, as well as prosecutions involving price-gouging and hoarding of critical personal protective equipment. The announcement comes on the heels of a similar one by Attorney General Merrick Garland…

Proskauer Rose LLP

U.S. Department of Labor Steps into the Cybersecurity Discussion

A Warning to Cryptocurrency Users from the Justice Department’s Tax Division

ICC Expands Automatic Application of Expedited Procedure

California Mulls More Job Killer Bills, Major Tax Hikes

Opening Up To the New Normal

New York State Issues Updated Travel Advisory; Relaxes Travel Restrictions

Employer’s Policies On Blogging, Solicitation and E-Mail Signature Blocks Lawful, NLRB Rules (For Now, Anyway)

DOL and Liquidated Damages: The Breakup Only Lasted 9 Months

Second Circuit Upholds Insider Trading Conviction, Finding Sufficient Confidentiality Duty and Personal Benefit

DOJ Continues Price Gouging Enforcement Under the Defense Production Act

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