Akin Gump has issued an alert on administration and congressional activity since President Trump’s inauguration. The report highlights key regulatory and legislative developments across a range of policy areas. This document also previews the policy agenda for the coming year and concludes with a political update and analysis of the 2018 congressional elections.
Akin Gump has issued an alert assessing the New York Paid Family Leave Law, which went into effect on January 1, 2018. We discuss employers’ obligations to their employees, what modifications need to be made to company policies and how this will affect all New Yorkers.
Click here to read the full alert.
On November 2, 2017, the House of Representatives released the first draft of the Tax Cuts and Jobs Act (the Bill), which could result in the most significant overhaul of the U.S. federal tax system since 1986. Subsequently, two substantive amendments were introduced by the Chairman of the House Ways and Means Committee. While the Bill is expected to change substantially and the Senate version remains to be unveiled, the Bill provides certain indications as to how tax reform may affect investment funds and asset managers. Significant aspects can be summarized as follows:
Akin Gump’s international trade lawyers wrote an alert on CFIUS’s 2015 annual report and published 2016 data. Please click here to read the full alert.
As stated in our May 25, 2017 Executive Compensation, Employee Benefits and ERISA Alert, the Department of Labor’s (DOL’s) new fiduciary rule (“Fiduciary Rule”) became partially applicable on June 9, 2017. Set forth below are a few questions that a typical private fund manager might have in response to the Fiduciary Rule, and our responses thereto.
This afternoon, President Trump announced his decision to withdraw the United States from the Paris Agreement, describing it as “disadvantaging the United States” and indicating that the United States will “cease implementation” thereof, unless the United States can renegotiate its terms.
This week we highlight a report by Ernst & Young based on three years of research on the linkages between nonfinancial performance and investor decision-making. The data concludes that with regards to environmental, social and governance (ESG) reporting, there is a global trend toward increased interest in nonfinancial information on the part of investment professionals.
On February 3, 2017, President Donald J. Trump issued a memorandum directing the U.S. Department of Labor (DOL) to re-examine the DOL’s final rule on who is a “fiduciary” of an employee benefit plan under the Internal Revenue Code and the Employee Retirement Income Security Act as a result of giving investment advice to a plan or its participants or beneficiaries. The order directed the DOL to prepare an updated economic and legal analysis concerning the likely impact of the rule, and rescind or revise the rule based on the results of this analysis.