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|Recent Developments in Sanctions Enforcement: Schlumberger Oilfield Holdings Pleads Guilty to Criminal Sanctions Charges Related to Conduct that “Facilitated” Business from the United States; PayPal Resolves Apparent Sanctions Violations with OFAC Caused in Part by the Failure to Employ Adequate Screening Technology and Procedures|
Nicolas Bourtin, H. Rodgin Cohen, Elizabeth T. Davy, Mitchell S. Eitel, Jared M. Fishman; Sullivan & Cromwell LLP;
May 8, 2015, previously published on April 8, 2015On March 25, 2015, Schlumberger Oilfield Holdings, Ltd. (“SOHL”), a non-U.S. wholly-owned subsidiary of Schlumberger Ltd. (“Schlumberger”), also a non-U.S. corporation and one of the largest oilfield services organizations in the world, entered into an agreement with the...
|President Obama Issues Executive Order Authorizing Sanctions for Malicious Cyber Activities: Treasury Department May Designate Individuals and Entities That Engage in Cyber Activities Detrimental to U.S. Interests, Freezing Their Assets and Blocking Transactions With Them|
Jay Clayton, H. Rodgin Cohen, Elizabeth T. Davy, John Evangelakos, Alexander J. Willscher; Sullivan & Cromwell LLP;
May 8, 2015, previously published on April 1, 2015Earlier today, President Obama issued an Executive Order authorizing sanctions against persons found to have engaged in or supported significant malicious cyber activities. Under the order, the Secretary of the Treasury is authorized to designate and impose sanctions on individuals and entities...
|Switzerland UK Budget 2015 Analysis|
Lindsay Brown, Jessica Dabbs, Judith Ingham, Justine Markovitz, Ian Perrett; Withers Bergman LLP;
May 7, 2015, previously published on March 18, 2015As is often the case with a Budget delivered immediately prior to a General Election, today’s announcements by the UK Chancellor of the Exchequer were more about securing headlines and votes than introducing significant changes to the tax system. In reality, this year's real Budget will come...
|Focus on Government: Federal Budget 2015|
V. Peter Harder, Danylo Korbabicz; Dentons Canada LLP;
May 6, 2015, previously published on April 21, 2015Federal Finance Minister Joe Oliver tabled the Conservative government’s eleventh budget on April 21, 2015. The Federal Budget was originally expected to be released in February or March, however, due to growth uncertainties and a significant decline in global oil prices, Minister Oliver...
|The Future for the SNAP Program|
McDonald Hopkins LLC;
May 5, 2015, previously published on May 1, 2015The Supplemental Nutrition Assistance Program (SNAP) - better known as the food-stamp program - appears to have avoided coming under the scalpel of Congressional Republicans this year. However, the debate over the future of the program is far from over.
|House Passes Budget Deal and First Approps Bill|
McDonald Hopkins LLC;
May 5, 2015, previously published on May 1, 2015By a vote of 226 to 197, the House approved the budget that it negotiated with the Senate. The budget calls for dramatic spending cuts, balances the budget in 10 years, and includes so-called reconciliation language that would gut the Affordable Care Act.
|The Latest on Fast Track|
McDonald Hopkins LLC;
May 5, 2015, previously published on May 1, 2015This week, Japanese Prime Minister Shinzo Abe came to D.C. and spoke before a Joint Session of Congress. His visit comes as the political fight over the Trans-Pacific Partnership (TPP) is heating up on Capitol Hill.
|Maine Governor Asks Lawmakers a Billion Dollar Question|
David H. Godenswager, David M. Kall, Susan Millradt McGlone; McDonald Hopkins LLC;
May 5, 2015, previously published on April 30, 2015A semantically bold press release posted by the Office of Gov. LePage asks “The Billion Dollar Question: Will You Support Eliminating the State Income Tax?" The press release refers to a letter the governor recently sent to state lawmakers proposing a constitutional amendment to...
|The Rock or the Hard Place? South Carolina Issues Draft Guidance on Alternative Apportionment|
Open Weaver Banks, Stephen A. Burroughs; Sutherland Asbill & Brennan LLP;
April 30, 2015, previously published on April 29, 2015The South Carolina Department of Revenue requested public comment on a draft Revenue Ruling and a draft Revenue Procedure that detail how it will prospectively apply alternative apportionment to multistate taxpayers. This represents the Department’s second attempt at drafting alternative...
|OFCCP Drops the Annual Veterans Hiring Benchmark to 7 Percent|
Leigh M. Nason; Ogletree, Deakins, Nash, Smoak & Stewart, P.C.;
April 30, 2015, previously published on April 27, 2015On April 21, 2015, the Office of Federal Contract Compliance Programs (OFCCP) announced that it had updated the Vietnam Era Veterans’ Readjustment Assistance Act (VEVRAA) Benchmark Database on its website. The VEVRAA Benchmark Database is one of two databases that the OFCCP launched in March...