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HTMLOffshore Tax Enforcement Update: IRS Unveils Major Changes to Voluntary Disclosure Program
Jennifer Lynn Bell, Matthew D. Lee, Jeffrey M. Rosenfeld; Blank Rome LLP;
Legal Alert/Article
July 9, 2014, previously published on June 2014
Since the 1970s, U.S. taxpayers with foreign banks accounts have been required to annually report their foreign bank account information to the Department of Treasury on a Report of Foreign Bank and Financial Accounts (“FBAR”) by June 30th of each year. In addition to requiring the...

 

HTMLWyndham Secures Interlocutory Appeal Challenging the FTC’s Authority to Regulate Cybersecurity Practices
Steven L. Caponi, Elizabeth A. Sloan; Blank Rome LLP;
Legal Alert/Article
July 9, 2014, previously published on June 2014
As part of our ongoing effort to advise clients on significant developments in cybersecurity that are likely to impact their businesses, we have been actively reporting on the case of in FTC v. Wyndham Worldwide Corporation, et al., pending before U.S. District Judge Esther Salas in New Jersey. In...

 

HTMLExports of Condensate Reflect Evolution, Not Revolution, In Crude Export Regulation
Jeanne M. Grasso, Margaret Anne Hill, Michael L. Krancer, Matthew J. Thomas, Jonathan K. Waldron; Blank Rome LLP;
Legal Alert/Article
July 9, 2014, previously published on June 2014
On June 24, 2014, various news sources reported that the Department of Commerce (“DOC”) had allowed two companies to export processed condensate, suggesting a breakthrough in the 40-year ban on crude oil exports. The reality might not match the dramatic headlines, however. It appears...

 

HTMLU.S. Supreme Court Decision Will Lead to Intense Scrutiny of ESOP Fiduciaries
Barry L. Klein, Frederick G. Sandstrom; Blank Rome LLP;
Legal Alert/Article
July 9, 2014, previously published on June 2014
The United States Supreme Court issued a decision yesterday that will result in significant changes to employee stock ownership plan ("ESOP") administration and design, which could jeopardize the viability of stand-alone traditional ESOPs.

 

HTMLOffshore Tax Enforcement Update: Foreign Bank Account Disclosure Deadline Is June 30, 2014
Matthew D. Lee, Jeffrey M. Rosenfeld; Blank Rome LLP;
Legal Alert/Article
July 1, 2014, previously published on June 2014
The annual deadline for filing FinCEN Form 114, Report of Foreign Bank and Financial Accounts (commonly known as the “FBAR” form), is fast-approaching. Any U.S. taxpayer with a financial interest in, or signature or other authority over, a foreign bank account (which includes bank,...

 

HTMLSupreme Court Leaves Its 1988 Decision in Basic, Inc. v. Levinson Basically Intact
Harris N. Cogan, Michelle Gitlitz-Courtney, Evan H. Lechtman, Alan M. Lieberman; Blank Rome LLP;
Legal Alert/Article
June 27, 2014, previously published on June 2014
In Halliburton Co. et al v. Erica P. John Fund, Inc., 573 U.S.--- (2014), the Supreme Court revisited its decision in Basic, Inc. v. Levinson, 485 U.S. 224 (1988), in which it held that class action plaintiffs bringing Rule 10b-5 actions could establish the reliance element by invoking a rebuttable...

 

HTMLSecond Circuit Court of Appeals Rules that U.S. Law Determines Whether Action Seeking Enforcement of Foreign Judgment is “Maritime”
Thomas H. Belknap, William R. Bennett; Blank Rome LLP;
Legal Alert/Article
June 26, 2014, previously published on June 2014
The United States Court of Appeals for the Second Circuit confirmed in a decision last week that U.S. federal courts have subject matter jurisdiction to enforce foreign maritime judgments. This, by itself, is hardly news; however, in a ruling of first impression at the appeals court level, the...

 

HTMLHistoric Water Resources Reform and Development Act Enacted into Law
Joan M. Bondareff, Stefanos Roulakis, Jonathan K. Waldron; Blank Rome LLP;
Legal Alert/Article
June 26, 2014, previously published on June 2014
On June 10, 2014, President Obama signed into law the Water Resources Reform and Development Act of 2014 (“WRRDA”) (Public Law No: 113-121). The primary purpose of the bill is to provide funding for improvements to rivers and harbors, dredge East Coast ports to 50 feet to accommodate...

 

HTMLDepartment of Energy Proposal Upends Process for Authorizing LNG Exports
Stefanos N. Roulakis, Matthew J. Thomas, Jonathan K. Waldron; Blank Rome LLP;
Legal Alert/Article
June 26, 2014, previously published on June 2014
On June 4,.2014, the Department of Energy (“DOE”) issued a Notice of Proposed Procedures (“NPP”) for Liquefied Natural Gas Export Decisions outlining proposed changes to the way liquefied natural gas (“LNG”) export permits would be issued. In short, the DOE is...

 

Adobe PDFPart One: Unmanned Aircraft Systems (“UAS”) - Aka Drones Usages And Regulation: Where Are We Headed?
Elaine D. Solomon; Blank Rome LLP;
Legal Alert/Article
June 26, 2014, previously published on June 2014
The ever-quickening pace of technological innovation creates serious obstacles for legal, legislative, and regulatory regimes that are notoriously slow to adapt. One of the newest arenas in which this struggle is playing out is that of Unmanned Aerial Vehicles (“UAVs”), also referred to...

 


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