News

OCC Hits the Brakes on Crypto and Fintech: What Next?

By EsqSocial Corporation 27/05/21

When Michael Hsu became acting U.S. Comptroller of the Currency earlier this month, banking industry experts predicted a shift away from the aggressive innovation pushed by fintech-friendly Brian Brooks, who resigned as the Biden administration prepared to take the reins.

China Takes Major Step Towards Finalizing National Data Regulation Regime

By EsqSocial Corporation 27/05/21

China recently released new drafts of its Data Security Law and its Personal Information Protection Law for public comment; when finalized the two laws will impose significant obligations on how companies collect, process, and transfer data while operating in, or transacting with, companies or in

NYSE Amends Shareholder Approval Rules

By EsqSocial Corporation 27/05/21

In April 2021, the Securities and Exchange Commission approved amendments to the New York Stock Exchange’s shareholder approval rules for related party issuances and the issuance of 20% or more of a company’s stock.

Review of the SEC Whistleblower Program: At the Crossroads of Securities Law and Whistleblower Protection

By EsqSocial Corporation 27/05/21

Fiscal year 2020 marked the ten-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act establishing the Securities and Exchange Commission’s whistleblower program.

340B Update: HRSA Issues Final Warning Letter to Pharmaceutical Manufacturers That Their Contract Pharmacy Actions Violate 340B Statute

By EsqSocial Corporation 27/05/21

On 17 May 2021, the Acting Administrator of the Health Resources and Services Administration (HRSA), Diana Espinosa, sent letters to six pharmaceutical manufacturers stating that the manufacturers’ actions to limit access to 340B Program pricing for covered entities that dispense medications thro

PERM 101: Employment Verification Letters

By EsqSocial Corporation 27/05/21

Before filing an I-140 petition for an employee beneficiary, petitioning employers brave a seemingly endless obstacle course, spending several months filing a prevailing wage determination (“PWD”) application, complying with a tedious recruitment process, and finally, awaiting certification of th

Business Restructuring Review | May–June 2021

By EsqSocial Corporation 27/05/21

In This Issue: First Impressions: Third Circuit Scuttles Triangular Setoff in Bankruptcy - In In re Orexigen Therapeutics, Inc., 990 F.3d 748 (3d Cir. 2021), the U.S.

Split-Dollar Life Insurance Arrangements and the Tax Code

By EsqSocial Corporation 27/05/21

A recent Tax Court decision in De Los Santos v. Commissioner illustrates the complexity of split-dollar life insurance arrangements.

Ninth Circuit Rules False Claims Act Suit Involving Off-Label Use of Medical Devices

By EsqSocial Corporation 27/05/21

The United States Court of Appeals for the Ninth Circuit recently considered an Order of the Central District of California dismissing a qui tam False Claims Act (FCA) suit against a medical device manufacturer based on allegations that it: (1) marketed devices used in spinal fusion surgeries for

IRS Guidance on COBRA Subsidy, Part II: Determining Assistance Eligible Individuals and Dealing with the Extended Election Period

By EsqSocial Corporation 27/05/21

Under the American Rescue Plan Act of 2021 ("ARPA"), a 100% COBRA subsidy is available to qualified beneficiaries who lose coverage due to an involuntary termination of employment or reduction in hours.  The subsidy is available from April 1, 2021 through September 30, 2021, for individuals not e

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