The U.S. Supreme Court Changes Sales and Use Tax Collection Nexus

In South Dakota v. Wayfair, Inc., the Court overrules the “physical presence” requirement as “unsound and incorrect”

The UK’s Sanctions and Anti-Money Laundering Act Enters into Law

On 23 May 2018, the Sanctions and Anti-Money Laundering Act became law in the United Kingdom. Its aim is to provide a legal framework to allow the UK to impose sanctions and implement its own sanctions regime once the UK leaves the EU on 29 March 2019. However, the Bill goes well beyond any current EU sanctions regime and provides scope for the Government to shape an autonomous UK sanctions policy

With Liberty and Cannabis for All

Legalized cannabis use is rapidly sweeping the nation. Currently, 29 states have legalized some form of cannabis, effectively turning the majority of the United States green. In this post, we will take a closer look at some of these green states and discuss cannabis real estate trends across both state and country lines.

Car Wars: Trump Administration Opens Section 232 Investigation into Imports of Autos and Auto Parts

On May 23, 2018, as directed by President Trump, the Secretary of Commerce initiated a Section 232 investigation into whether imports of automobiles, including SUVs, vans, light trucks and automotive parts, threaten to impair national security. President Trump reportedly is contemplating tariffs as high as 25% on automobile imports, similar to the tariff imposed a result of its recent 232 action on steel imports.

A New Path to Managing Risks from Upstream Oil and Gas Transactions

If EPA finalizes its newest enforcement proposal for the oil and gas production sector, managing environmental compliance risks arising from mergers and acquisitions in that sector is about to get easier. Under EPA’s proposal, a new owner of oil and gas extraction and production facilities can enter into an agreement with EPA to audit its new facilities for noncompliance with environmental laws and then address any violations the new owner finds without having to pay penalties for those shortcomings. Comments on the proposed agreement are due by June 4, 2018.

The Joke’s on Us! – SEC Demonstrates Sense of Humor and Serious Lessons about Fraudulent Coin Offerings

The rapid growth of cryptocurrency markets, digital asset products and initial coin offerings (ICOs), and the alarmingly high number of fraudulent ICO attempts among them, has prompted the SEC to engage the public in some creative investor education.

Investment Funds Authority Ildiko Duckor Demystifies Quant Funds and Their Risks

Pillsbury Investment Funds practice co-leader Ildiko Duckor recently spoke with The Hedge Fund Law Report about the strategies and risks inherent in investing in and managing quant funds, which utilize highly sophisticated computer-based models to automate trading activities and are increasingly popular in the “hyper-connected” trading and investment sector.

With CDD and Beneficial Ownership Rule in Effect, FinCEN Continues to Clarify and Refine Rules for Financial Institutions

Long awaited rules for “Customer Due Diligence Requirements for Financial Institutions” (the CDD Rules) went into effect on May 11, 2018. FinCEN has taken steps to clarify and refine implementation of the CDD Rules, issuing (1) FAQs on April 3, 2018 and (2) a ruling on May 16, 2018 providing covered financial institutions with a limited 90-day exceptive relief from the obligations for financial products and services that are subject to automatic renewals, provided such products were established before May 11, 2018.

New York Response to #MeToo: New Laws Target Sexual Harassment

Last month, Gov. Andrew Cuomo signed into law the 2019 New York State budget. The budget bill included a series of laws aiming to expand the scope of worker protections against sexual harassment, to limit employers’ ability to keep claims of sexual harassment confidential, and to increase employer and employee education on sexual harassment.

South Carolina Begins Licensing Money Transmission

In 2016, South Carolina enacted the South Carolina Anti-Money Laundering Act (the “Act”). The Act was to become effective upon the later of June 9, 2017, or the adoption of final implementing regulations. Those regulations were adopted, and they will become effective when published on May 25, 2018. Consequently, the Act will finally become effective on May 25, 2018.

New Proposed DoD Cyber Guidance May Fuel Bid Protest Docket

Department of Defense (DoD) cybersecurity requirements, referred to as Safeguarding Covered Defense Information and Cyber Incident Reporting went into effect at the start of the year, and have been met with an array of questions from contractors eager to comply, but unsure of the exact standards they are expected to meet. A long list of Frequently Asked Questions (FAQs) issued by DoD on April 2, 2018, has provided some clarity. However, significant areas of ambiguity remain, and language concerning a Contractor’s compliance with the new contract clause is finding its way into new contract solicitations. DoD has proposed guidance to answers some of those questions, and contractors will have until the end of May to provide feedback to the Government on how helpful—or unhelpful—the guidance is.

The Dangers of Training Neural Networks with Phone Calls

If you haven’t seen Sundar Pichai’s presentation on Google Duplex, watch it. The technology is fascinating. Google is developing software that can assist users in completing specific tasks such as making reservations by telephone.

Real Estate Firms in the Digital Advertising Era: Are You Thinking about the Risks?

Digital advertising is exploding. In just the first six months of 2017 alone, internet advertising revenues exceeded $40 billion. Promoted ads are dominating social media platforms like Facebook and Twitter, and it is impossible to surf the internet or use mobile apps without having to watch or click through a myriad of dynamic ads to get to the underlying content. Why is this? Because digital advertising works.

US Announces Withdrawal from JCPOA

Today, President Trump announced his intention to withdraw the United States from the Joint Comprehensive Plan of Action (JCPOA) and to impose the “highest level of economic sanctions” on Iran. The Office of Foreign Assets Control quickly thereafter published FAQs that discuss how the sanctions will be implemented.

Who Is Ultimately in the Driver’s Seat with Autonomous Vehicles?

When Eddie Rabbitt sang “Drivin’ My Life Away” in 1980, he was chronicling the life of a roadie, of a life spent behind the wheel. At the time, autonomous driving vehicles were still a distant speck on the horizon of the information highway. Today, we are on the cusp of a revolution that offers a near future where no one will have to spend his or her life behind a wheel. As always, the future carries new concerns, dangers and legal developments. We have already seen our first accidents and fatalities related to autonomous driving, and the regulatory and liability landscape is quickly setting context for this new technology—twenty-two states and Washington, D.C., have enacted legislation related to autonomous vehicles (with more pending).

As Getting Highly Skilled Workers to the U.S. Becomes Harder for Service Providers: What Should Customers Be Considering?

Outsourcing service providers have long been in the practice of bringing highly skilled employees from India and other locations to work with local businesses within the United States. Outsourcers such as Wipro, TCS and Infosys are some the largest petitioners of H-1B visas, the high-skilled work visa favored by the tech industry. In order to bring the most value to customers, service providers largely rely on getting work visas for Indian tech workers so they can consult with U.S. businesses.

Impacts of the Omnibus Spending Plan on the Affordable Housing Industry

Trump’s Omnibus Spending Plan adopts two key provisions from the proposed Affordable Housing Credit Improvement Act that will strengthen and expand low-income housing credit.

DFARS Clause Blocks Funding for Unsafe Projects in Afghanistan

A new rule prohibits the use of funds for DoD construction and infrastructure programs and projects in Afghanistan that cannot be safely accessed by U.S. Government personnel.

New EU Data Laws—What Nonprofit Organizations Need To Know

Nonprofit organizations can often handle large amounts of data originating in the EU. Though it is a common misconception that nonprofits are exempt from GDPR compliance, the fact is they are not.

USTR to Review India’s Eligibility for Continued Preferential Tariff Access Under the GSP Program

The United States Trade Representative announced it will review India’s eligibility to continue receiving treatment as a beneficiary country under the U.S. Generalized System of Preferences program. India is by far the largest beneficiary of the GSP program.

Real Property Transfers Ripe for Blockchain Disruption: Laws in the U.S. Must Follow the Technology

When we consider the core goal of the real property recordation system in the United States—assuring owners that they are gaining clear title to a particular parcel of real property—the benefits of a blockchain-based system are so glaring that movement in this direction seems inevitable.

Russia’s State Duma Introduces Draft Law to Counter U.S. Sanctions

Lawmakers in State Duma—a lower house of the Russian Federal Assembly—have introduced legislation to counter recent U.S. sanctions, setting out a broad menu of prohibitions, from import and services restrictions to individual bans.

Trump Administration Considering Use of IEEPA To Restrict U.S. Technology Transfer to China

Reports suggest that the Trump Administration may declare an emergency under the International Emergency Economic Powers Act to grant the CFIUS authority to review technology transfer transactions even where there is no transfer of “control.”

The Future of the ERISA Fiduciary Rule

With the future of the Fiduciary rule still uncertain, retirement plan fiduciaries must stay apprised of the rule's viability and carefully monitor the services provided by their plans’ investment advisors.

2018 Spending Plan Boosts Funding for Affordable Housing

A $1.3 trillion spending package that includes a 12.5% increase in low-income housing tax credit allocations over the next four years is welcome news to affordable housing developers who have been facing funding gaps.

Spring 2018 CFIUS Briefing

How can parties help CFIUS say “yes?” The key is to begin with the data, identify problems early, and be proactive.

Treasury Department Designates Russian Oligarchs, Officials, and Entities

The Treasury Department's April 6 placement of several prominent Russian individuals and companies on the Specially Designated Nationals and Blocked Persons lists promises to be more commercially disruptive for western companies than most past listings.

Blockchain Variations: Sidechains, Slidechains and the Potential of the Fork

As an ever-increasing numbers of blockchain-based patent applications seek issuance, savvy inventors and practitioners continue probing for patent-eligible space. Performance-related refinements to blockchain technology may provide that safe harbor.

Changes Imminent for GAO Bid Protests

The Government Accountability Office is implementing several important changes to the bid protest process effective May 1. We summarize the most notable rule changes, from the electronic docketing system requirements to a new filing fee.

Artificial Intelligence: A Grayish Area for Insurance Coverage

Companies that depend on artificial intelligence need to carefully evaluate potential scenarios that could affect their business and make sure they are insured accordingly.

Gas Regulation 2018: United States

Need an update on the state of the natural gas sector in the United States? This recently published article has you covered.

New CERCLA Brownfields Amendments

Spurred by the realization there may be as many as 450,000 Brownfields sites around the country that require some financial assistance, the recently enacted bi-partisan BUILD Act reauthorizes the EPA's Brownfields program at current funding levels through 2023.

Defenders of the Debriefing

New rules for all Department of Defense agencies expand offerors’ rights in connection with post-award debriefings in federal procurements, marking an important step in the direction of transparency and fairness.

Bill Expands Corporate Liability for Human Trafficking to Social Media Companies

The recently passed Allow States and Victims to Fight Online Sex Trafficking Act (FOSTA) creates civil liability for social media companies that benefit from a human trafficker’s online media presence if they “should have known” that their platform was being utilized for such exploitation.

Oh No, Mr. Robot Just Hacked Our Smart Building…

Despite some very real-world examples, such as a 2017 breach of Dallas' emergency siren system, there seems to be little recognition of the security risk that connected buildings and smart cities entail.

Blockchain and the Legal Landscape

In this video, Pillsbury partner Mercedes Tunstall discusses some of the important legal issues to consider when exploring a blockchain solution.

Trump Administration Takes Action Following Section 301 Investigation

President Trump’s latest directives regarding the USTR’s Section 301 investigation into China has wide-ranging implications for in-bound Chinese investment. Here’s what you need to know.

Top Ten Emerging Trends in Pay Ratio Disclosure

Preliminary trends are emerging from the pay ratio disclosures filed by U.S. public companies in 2018.

Court of Appeals Rolls Back Portions of the FCC’s 2015 Robocall and Text Ruling

A recent Court of Appeals decision will rescind some aspects of the Telephone Consumer Protection Act and have significant implications for businesses contacting consumers by telephone or text.

Recent and Upcoming Changes to 401(k) Plans

The rules governing 401(k) plans are steadily evolving. Both the Tax Cuts and Jobs Act (the Act) and the Bipartisan Budget Act of 2018 (the Budget) contain a number of changes to the 401(k) plan rules.

Proposals Should Carefully Address Pending Corporate Deals

For government contractors that may experience a change of ownership, a spinoff, or even a merger, three recent bid protest denials from the GAO are highly instructive.

Safety from Hackers—and Trial Lawyers

A simple legislative fix would shield cybersecurity innovators from costly nuisance lawsuits.

Administration Issues “Legislative Outline for Rebuilding Infrastructure in America”

The Trump Administration's legislative proposal to rebuild American infrastructure identifies a number of specific laws that will require amendments. Here is a brief review of some of the plans many provisions.

CFIUS and China: Separating Fact from Fiction

It's true that a few high-profile deals have been abandoned due to CFIUS concerns. But many other transactions--including three recent ones involving Chinese acquirers--have been cleared.

SBA Proposed Rule Standardizes SDVO SBC Ownership & Control Standards

A new Small Business Administration rule aims to simplify prior qualification standards under Department of Veterans Affairs and SBA Service-Disabled Veteran-Owned Small Business Concerns programs.

Gibraltar’s Financial Services Regulator Adopts First-Ever Purpose-Built Blockchain Regulations

Firms in Gibraltar which use distributed ledger technology to store or transmit value belonging to others must now be appropriately licensed. What other countries might follow suit?

Human Trafficking Raises Corporate Liability Concerns for the Hospitality Industry

Not sure if an anti-human trafficking compliance program is necessary for your business? A recent lawsuit illustrates just how important these programs can be.

European Businesses Offering Payment Services Told How to Manage Operational and Security Risks

The European Banking Authority has unveiled nine operational and risk management guidelines with which all payment services providers are expected to comply.

Cloud Computing by EU Financial Institutions Gets a New Rule Book

EU Financial institutions take note: the European Banking Authority’s new cloud computing guidance takes effect July 1, 2018.

The 2018 Government Shutdown – How Can Contractors Preserve Rights?

Contractors suffered cost impacts and uncertainty during the recent three-day government shutdown. What happens if a long-term deal can't be reached?