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Member News

COVID-19 News, Member News

Troutman Pepper | DOL Revises FFCRA Leave Regulations

Who Needs to Know All employers covered by the FFCRA. Why It Matters Employers must ensure that their policies and practices addressing FFCRA leave are consistent with the DOL’s revised regulations. As we previously covered, on August 3, the U.S. District Court for the Southern District of New York (SDNY) struck down four parts of the regulations issued by the U.S. Department of Labor (DOL) implementing the Families First Coronavirus Response Act (FFCRA). Specifically, the decision invalidated the regulations’ availability of work requirement, intermittent...
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Portolano | Business Judgement Rule: Directors May Be Held Liable for Disproportionate Organizational Decisions in Italy

The Court of Rome (Decision issued on April 8, 2020) recently issued a decision on the business judgment rule topic, which has been dealt with several times by Italian courts over the years. The recent decision is interesting because (i) it summarizes Italian case-law principles on the abovementioned topic and (ii) based on such principles, it concludes that even organizational decisions made by directors can trigger their liability. 1. The case at stake A newly established company controlled by the Italian foundation for doctors’ and...
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Shearman | Important Arbitration Decision for Lenders

Project Finance Lender Can Claim Directly Against State Under Investment Treaty A recent decision of an arbitral tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes (ICSID) has opened the door for potential direct claims by project finance lenders against states in circumstances in which the projects they finance are adversely affected by state measures. In a decision rendered on August 20, 2020, the tribunal in Portigon AG v. Kingdom of Spain (ICSID Case No. ARB/17/15) held...
COVID-19 News, Member News

Troutman Pepper | Navigating Adapted Operations Advisory Series: Part One – Phased Approach Considerations, Creating and Implementing a COVID-19 Response Plan, and Benefits Concerns for a Returning Workforce

Who Needs to Know Employers who are reopening (or have already reopened) by bringing employees back to their workplaces. Why It Matters Bringing a workforce back to the workplace, whether from teleworking, furlough or layoff status, is an exercise with many moving parts. Employers need to follow a reasoned strategy to address COVID-19-related risks and other considerations associated with recalling some or all of a workforce to develop a sensible back-to-work protocol. Troutman Pepper is issuing a series of client advisories, Navigating Adapted Operations, to...
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Vulcan Insight | Ursula von der Leyen Delivers Maiden SOTEU Address

One year after assuming her role, European Commission President Ursula von der Leyen today delivered her maiden State of the European Union address to the European Parliament’s Brussels plenary. Speaking for over an hour, President von der Leyen presented her vision for revitalising the EU’s economy in a sustainable, green and more innovative way. Building on her former experience as German Defence Minister, President von der Leyen also spoke passionately about her vision for a more geo-politically impactful European Union that stands up...
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FTI Consulting | 5 Steps to Ensure Your Business is Compliant with the Next Set of Data Privacy Laws

Previously published in FTI Journal | The California Consumer Privacy Act (CCPA) is paving the way for an era of similar laws in states across the country. Rather than trying to adapt incrementally, companies should position themselves now for general compliance. Data equals dollars in today’s digital age with personal information as the hot commodity. However, headline topping cybersecurity breaches have made consumers skittish about how companies handle the data they share online. Rising demand for greater protection of personal information...
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WSGR | EDPB Issues Guidelines on Social Media Targeting Under GDPR

On Monday September 7, 2020, the European Data Protection Board (EDPB) issued draft Guidelines 8/2020 on the targeting of social media users (the "Draft Guidelines"). The Draft Guidelines have far-reaching implications for social media platforms, advertisers, and adtech companies, as they will result in a clarification of the roles and responsibilities of the key stakeholders, and establish rules for consent. The Draft Guidelines are open for public consultation until October 19, 2020. Interested companies can submit their comments to the EDPB. Summary The Draft Guidelines...
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Faegre Drinker | Regulators Issue Guidance on U.S. Banks’ Reporting Obligations Regarding Suspected Foreign Corrupt Practices

In response to inquiries from the financial industry as to how to assess risks of potential illegal activity with respect to beneficial owners who are “politically exposed persons” (PEPs) overseas, federal bank regulators issued a “Joint Statement on Bank Secrecy Act Due Diligence Requirements for Customers Who May Be Considered Politically Exposed Persons” on August 21, 2020. Specifically, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network (FinCEN), the National Credit...