By Madeline Ursini and Brian J. Reilly The Department of Commerce’s Bureau of Economic Analysis (“BEA”) conducts a benchmark survey on foreign direct investment every 5 years. The BE-12 survey is the BEA’s most comprehensive survey and produces statistics on the scale and effects of foreign-owned business activities in the United States. The most recent...
Client AlertsCorporate & BusinessNewsCorporate Transparency Act: Is Your Company Subject to the New Beneficial Owner Reporting Requirements?
May 9, 2023
By Madeline Ursini, Brian J. Reilly and Lawrence J. Sheh In 2021, as part of the Anti-Money Laundering Act of 2020, Congress enacted the Corporate Transparency Act in an effort to prevent and combat illicit activities such as money laundering, terrorist financing, corruption, and tax fraud. In furtherance of this goal, beginning on January 1,...
Client AlertsEmployment & LaborNewsNLRB Prohibits the Use of Confidentiality and Non-disparagement Provisions in Severance Agreements
February 24, 2023
On February 21, 2023, the National Labor Relations Board (“Board”) ruled that an employer violated its employees’ rights under federal law by offering severance agreements that included standard confidentiality and non-disparagement provisions. By way of background, Section 7 of the National Labor Relations Act (“NLRA”) protects the rights of non-management employees to engage in “concerted...
Client AlertsCommercial FinanceNewsLegislation Prohibiting Tax-Exempt Bonds for Professional Sports Stadiums Reintroduced in Congress
February 22, 2023
By Eugene G. Bernardo II and David M. DiSegna Legislation has been introduced in the United States House and Senate entitled the “No Tax Subsidies for Stadiums Act of 2023,” which would eliminate the tax exemption for bonds used to finance professional sports stadiums. The companion bills were introduced by Senators Lankford (R-OK) and Booker...
Client AlertsLitigation & DisputesNewsCourt Clarifies When Duty to Preserve Evidence in Litigation Arises
February 14, 2023
By Paul M. Kessimian, Christian R. Jenner and Hannah Y. Amadei The duty to preserve potentially relevant documents and electronically stored information is an important obligation that arises in litigation, and one that litigants and their attorneys must not take lightly. But at what point does this duty arise? In a recent decision, Judge Salinger of...
Client AlertsNewsNonprofitNonprofits Take Note! Recent Expansion of Qualified Charitable Distribution Rules
January 9, 2023
President Biden recently signed into law the Secure 2.0 Act of 2022. The Act contains, in part, an expansion of the rules for qualified charitable distributions. A qualified charitable distribution (“QCD”) is a direct transfer of funds from an individual retirement account to a qualified charity. Two of the highlights, which are effective for the...
Client AlertsNewsReal EstateMassachusetts Appeals Court Strikes Down Commercial Landlord’s Right to Collect Accelerated Rent Upon a Tenant Default
January 4, 2023
In the December 5, 2022 opinion (Cummings Properties, LLC v. Darryl C. Hines, No. 21-P-1153), the Massachusetts Appeals Court considered whether a commercial landlord can collect accelerated rent upon a tenant default, specifically when the landlord is also collecting rent from a new tenant for the same premises. Surprising many commercial real estate professionals, the...
Client AlertsCommercial FinanceNewsMunicipal Securities Disclosure Will Be Subject To New Data Standards
December 28, 2022
By Eugene G. Bernardo II and David M. DiSegna The Financial Data Transparency Act of 2022 (the “Act”), which was included as part of the National Defense Authorization Act, was signed into law on December 23, 2022. The Act requires that various federal regulatory agencies jointly issue proposed rules within eighteen (18) months, which establish...
Client AlertsEmployment & LaborNewsRhode Island Pay Equity – Here’s The Notice That Must Be Posted by January 1
December 22, 2022
We have previously provided information on the new Rhode Island Pay Equity law, which goes into effect on January 1, 2023, available here: RIDLT Proposes Regulations and Issues Compliance Guidance for the New Pay Equity Law and here: Rhode Island’s New Pay Equity Law Changes How Employers Must Compensate Their Workforce. Since our last alert, the Department of...
Client AlertsCorporate & BusinessNew City of Cambridge Zoning Ordinances Could Have Potential Impact on Developers Throughout New England
December 14, 2022
On October 24, 2022, the City of Cambridge, Massachusetts amended its zoning code to abolish all minimum parking requirements. Previously, the Cambridge regulation required all new multi-family residential developments to have at least one off-street parking space per unit. The Cambridge City Council’s amendment eliminated this requirement for all multi-family developments comprised of more than...
