On May 6, the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and Federal Housing Finance Agency (FHFA) issued a notice of proposed rulemaking and request for public comment to implement Section 956 of the Dodd-Frank and Wall Street Reform and Consumer Protection Act (Dodd-Frank). Under Section 956, the FDIC, OCC, FHFA, National Credit Union Association (NCUA), Securities and Exchange Commission (SEC), and Board of Governors of the Federal Reserve System (the Fed) are tasked with...

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As renewable energy projects contend with volatile energy markets, new regulations and a challenging investment climate, it’s easy to lose sight of the progress being made in the transition away from fossil fuels. Sustained investment in renewables continues, despite the hurdles, and will translate into enduring growth as economic activity becomes less dependent on fossil fuel prices and supply fluctuations. Ultimately, as the transition accelerates and renewable electricity generation increases, economic prosperity will ensue as emissions fall. But getting there is a...

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Tensions rise between UK and Ireland over immigration Attempts to handle the unprecedented levels of immigration have this week prompted diplomatic tensions between Ireland and the UK. Looming general elections on either side of the Irish Sea means that there has been considerable political jockeying on the issue, which perception polling indicates will be top of mind for voters. Responding to a line of questioning from Clare Independent TD – and MEP candidate for Ireland South ­– Michael McNamara, Minister for...

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In this week’s Roar: the Key Bridge cleanup, tightening airfreight capacity, port volumes in the U.S., container ship deliveries hit a record, and diesel prices continue to fall. Baltimore is making good progress cleaning up the shipping channel and removing the Dali—the container ship that caused the Key Bridge collapse in March. Officials are hopeful the ship can be removed by May 10. So far, over 3,000 tons of debris have been pulled from the channel, and the next step is...

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The dollar is mostly a little softer today in thin market conditions, with Tokyo, Seoul, and London closed for holidays. The Japanese yen is the weakest G10 currency, losing about 0.5% and slipping through last Friday's lows. At first, after Fed Chair Powell did not endorse rate hike speculation, the market thought he was dovish. But after the softer than expected jobs data and weakness in the ISM services, the market shifted from doubting one cut to pricing in...

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Whether they realize it or not, most companies probably own valuable trade secrets. When one thinks of “trade secrets,” things like the recipe for Coca-Cola or Kentucky Fried Chicken or perhaps Google’s algorithm might come to mind. But trade secrets are broader than these examples and can include things that most companies have, such as customer lists, manufacturing processes, and marketing strategies. PROTECTING TRADE SECRETS What makes a trade secret a trade secret? First and foremost, it must be a secret,...

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The IRS and Treasury on May 6 published final regulations on tax credits under Section 30D for new clean vehicles and under Section 25E for previously owned clean vehicles. The final regulations apply on various dates that conform to either issuance of the proposed regulations or statutory provisions. Accordingly, the Section 25E final regulations generally apply to tax years ending after October 10, 2023; the Section 30D final regulations generally apply to tax years ending after December 4, 2023; the...

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The United States Patent and Trademark Office (USPTO) is requesting public comment on how they can accelerate and incentivize the commercialization of innovative technologies.1 Public comments can be submitted via this link by May 14, 2024. To facilitate input, the USPTO has provided a list of questions that may be addressed in the public comments, including suggestions for how they can help innovators with commercialization through the use of the U.S. intellectual property system. These questions are not limiting, and...

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On April 25, 2024, the U.S. Department of Labor (DOL) published its final “Retirement Security Rule” (the Final Rule) (89 FR 32122) that amends the existing rule defining when a person is an investment advice fiduciary under the Employee Retirement Income Security Act of 1974, as amended (ERISA), and the Internal Revenue Code of 1986, as amended (the Code). The DOL simultaneously published amendments to various Exemptions intended to narrow and harmonize the exemptions available to address conflicts of...

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