Public Policy

Expert Analysis

• Series

  Judging A Book: Lipez Reviews 'Last Great Colonial Lawyer'

  

  In his new book, "The Last Great Colonial Lawyer: The Life and Legacy of Jeremiah Gridley," Charles McKirdy argues that Gridley — someone I had never heard of — was the last great colonial lawyer, and that his cases illuminate his times. The author largely substantiates both claims, says First Circuit Judge Kermit Lipez.

• As IRS Eases Reporting, States Target Dark Money Reforms

  

  At the same time that the IRS is making it easier for nonprofits to shield their donors from inadvertent disclosure by eliminating a reporting requirement on annual tax filings, some states, such as Maine and Montana, continue to trend toward greater disclosure of donors to politically active nonprofits. It is thus imperative that nonprofits are cognizant of the complex and inconsistent rules among federal, state and local jurisdictions, say attorneys at Nossaman.

• How FIRRMA Will Change National Security Reviews: Part 2

  

  The newly enacted Foreign Investment Risk Review Modernization Act significantly expands the authority of the U.S. government to review and restrict foreign investments on national security grounds. But FIRRMA also has provisions that may exempt some transactions from review, and accelerate review of others, say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.

• Tax Enforcers Unite Against International Tax Crime

  

  In light of the launch of the Joint Chiefs of Global Tax Enforcement alliance against transnational tax crime and money laundering, it is more important than ever for corporations and professional services firms to carefully manage their exposure to higher risk clients and business activity, say Kyle Wombolt and Jeremy Birch of Herbert Smith Freehills LLP.

• How FIRRMA Will Change National Security Reviews: Part 1

  

  The Foreign Investment Risk Review Modernization Act empowers the U.S. government to review a far broader group of transactions than ever before to determine if they threaten national security. FIRRMA's expansive new coverage includes oversight of real estate investments and transfers of "emerging and foundational technologies," say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.

• Internet Of Things Cos. Must Prepare For Law Enforcement

  

  As the internet of things device market develops, companies that proactively develop compliance strategies should be able to avoid many of the pitfalls that are sure to come as law enforcement changes the way it investigates cases, say attorneys at Wiley Rein LLP.

• Time To Update Prop 65 Warnings For Residential Rentals

  

  The ubiquitous Proposition 65 warning signs posted throughout apartment communities in California may soon become a thing of the past. Under a new draft rule that is being finalized, safe harbor warnings for residential rental properties will be found in lease agreements rather than on posted signs, says Andrea Sumits of Environmental General Counsel LLP.

• A Close Look At IRS Proposed Pass-Through Deduction Rules

  

  Last week, the IRS proposed regulations under Internal Revenue Code Section 199A, providing guidance on the new deduction available to pass-through entities and sole proprietorships. Mostly taxpayer friendly, the lengthy proposed regs are likely to undergo some changes before becoming finalized, say Stephen Looney and Edward Waters of Dean Mead Egerton Bloodworth Capouano & Bozarth PA.

• California Opens The Door To International Arbitration

  

  Last month, California passed a law clarifying that lawyers who are not members of the state bar may appear in international arbitrations seated in California without local counsel. As a result, San Francisco and Los Angeles will likely see an increase in international arbitrations — particularly given their access to the Pacific Rim and Latin America, say attorneys with Mayer Brown LLP.

• Alternative Trading Systems Face New Regulatory Burdens

  

  The U.S. Securities and Exchange Commission last month approved rule changes that would impose extensive new transparency requirements on alternative trading systems that effect transactions in National Market System stocks. Julian Rainero and William Barbera of Schulte Roth & Zabel LLP break down the new disclosure requirements and highlight areas that may prove particularly burdensome.