Corporate > AG Deal Diary
26 May '17

As previously reported, New York City is set to ban firms from inquiring about prospective employees’ salary history in connection with the recruiting and hiring process.  On May 4, 2017, Mayor Bill de Blasio signed the bill into law, and the new law will take effect on October 31, 2017.  In the attached article, published in the Hedge Fund Law Report on May 11, 2017, we describe the new law, including what practices will and will not be permitted, and provide advice regarding what steps firms should take to prepare in advance of the law’s implementation. 

Click here to read the full article.

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25 May '17

The Fiduciary Rule, which expands the circumstances under which providers of investment advice may be considered Employee Retirement Income Security Act of 1974 (ERISA) fiduciaries, was initially published in the Federal Register on April 8, 2016, became effective on June 7, 2016, and had an original applicability date of April 10, 2017. On March 2, 2017, in response to a February 3, 2017 presidential memorandum directing the DOL to re-examine the Fiduciary Rule, the DOL published a notice proposing a 60‑day delay in the applicability date of the Fiduciary Rule. On April 7, 2017, the DOL promulgated a final rule delaying the applicability date of the Fiduciary Rule by 60 days from April 10, 2017 to June 9, 2017.

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25 May '17

This week we highlight an analysis by Ernst & Young on the trends in US capital markets. The capital markets landscape has changed considerably over the past two decades, including the expansion of private capital markets and related regulatory changes. The report discusses the public market and private market trends impacting the number of US-listed companies today.

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23 May '17

In a highly anticipated opinion significantly narrowing the first prong of the patent venue statute, 28 U.S.C. § 1400(b), the Supreme Court in TC Heartland LLC v. Kraft Foods Group Brands LLC unanimously held that a domestic corporation sued for patent infringement “resides” only in its “State of incorporation.” The opinion thus wipes away the Federal Circuit’s longstanding rule, established in VE Holding Corp. v. Johnson Gas Appliance Co., 917 F.2d 1574 (Fed. Cir. 1990), that a domestic corporation’s residence includes all judicial districts in which the corporation is subject to personal jurisdiction.

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22 May '17

This week we highlight an article by Globe St. which features a Q&A session with David Phelps on thriving hotel sub-brands and the concern about overbuilding.  With many new brands being introduced, daily rates are either flat or declining in some markets and the oversupply could also carve into hotel chains’ loyalty clientele. This dynamic could also impact the ability to refinance down the road. David discusses these issues and shares how he’s guiding clients on development expectations.

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19 May '17

Yesterday morning, the Office of the United States Trade Representative (USTR) formally notified Congress that the administration intends to initiate renegotiations with Mexico and Canada on the North American Free Trade Agreement (NAFTA). The administration is required to submit the notice to ensure that any legislation required to implement an updated agreement can receive fast-track protection under the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA). Under the TPA, the USTR may not enter into formal negotiations until 90 days after this notice is provided to Congress. Thus, NAFTA renegotiations can start on August 16, 2017.

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19 May '17

This week we highlight an article by Corporate LiveWire on the trends occurring within traditional film financing methods. Due to the changing markets, producers have started relying more heavily on international co-production arrangements to fund their projects which have created a necessity for filmmakers to create content that can appeal to a global audience. However, any formula for developing films and other content that will find success internationally and across various cultures remains elusive. This article will provide an overview of the importance of creating content that can be successful across geographic and cultural boundaries.

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10 May '17

Last week, the House took the first step to repealing and replacing the Affordable Care Act (ACA) by passing a bill titled “The American Health Care Act” (AHCA). On May 4, 2017, after numerous fits and starts over the past several weeks, negotiations and several amendments, Republicans narrowly passed an amended version of the bill by a vote of 217-213.

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