SPOTLIGHTUS Election
Post-Election Analysis: The Future of US Policy and Implications for Businesses and the Economy
The US federal election could have sweeping regulatory and legislative impacts across virtually every major sector of the economy. To help understand how government policy might change over the next four years and what that means for domestic and global businesses, we invite you to join the first of our post-election programs.
Fear of catching COVID-19 is not a protected belief under discrimination law
The Employment Tribunal has recently held that a claimant’s belief in a fear of catching COVID-19 and a need to protect herself and others does not amount to a philosophical belief under the Equality Act 2010.
US FTC/DOJ Launch Process to Potentially Rewrite Merger Guidelines
The Federal Trade Commission (FTC) and the Department of Justice’s (DOJ) Antitrust Division announced this Tuesday, January 18, 2022, that they are seeking public comment on revising their merger guidelines.
How Asset Managers Are Using New Sustainability Taxonomies Globally
The sustainable investing market is witnessing remarkable growth. The field, however, has been challenged by greenwashing claims and a lack of consistency in identifying what, exactly, makes an investment “sustainable”.
Contracting for AI in the Evolving Regulatory Landscape (Law.com subscription required)
The rapid advancement of AI technologies in recent years means that regulators are engaged in a game of catch up.
US CFTC Issues Further Technical No-Action Relief and Guidance for LIBOR Transition
On December 22, 2021, in response to a request from the Alternative Reference Rate Committee (ARRC) and a further request from the Futures Industry Association (FIA), the United States Commodity Futures Trading Commission (CFTC) issued five technical no-action letters providing additional, and extending existing, time-limited, no-action relief and guidance for certain London Interbank Offered Rate (LIBOR) transition matters.
The Hong Kong Vaccine Bubble for the Catering Business – At A Glance (Updated on 6 January 2022)
Social distancing rules have been tightened from 7 to 20 January 2022. For catering businesses (excluding bars and pubs which will be closed), with the abolition of Mode A, there will now be only three modes of operation in which they can operate dine-in services, all of which require the customers (except for certain exempted individuals) to use the LeaveHomeSafe (LHS) mobile application before entering the premises.
OSHA’s Vaccine-or-Test Mandate for Large US Employers is Reinstated, Prompting Request for Supreme Court Intervention
On December 17, 2021, the Sixth Circuit dissolved the Fifth Circuit’s nationwide stay of the US Occupational Safety and Health Administration’s “vax or test” Emergency Temporary Standard (ETS), applying to US employers with 100 or more employees.
Climate Change and Investment Treaty Arbitration
In this episode, Kwadwo Sarkodie and Charles Harris are joined by Rachael O’Grady, partner in the International Arbitration practice of Mayer Brown’s London office. Our speakers discuss the overlapping of the Climate Change and Investment Treaty legal frameworks, and the interplay between them.
Strategies and Risks in the Wake of COP26
Now that COP26 is behind us, what are the implications going forward? The two-week long UN global climate summit – postponed by a year due to COVID – brought some 40,000 delegates, together with high expectations of a reboot of our approach to pressing climate challenges, to Glasgow, and certainly included plenty of drama.
The CFA Institute releases Global ESG Disclosure Standards for Investment Products
Evaluating, and comparing, the ESG credentials of different investment products presents significant difficulties. In a welcome development in the move towards addressing these issues,the CFA Institute, a global association of investment professionals, published its first voluntary Global ESG Disclosure Standards for Investment Products (the “Standards”).
Breach Notification Requirement Finalized by US Banking Regulators
On November 18, 2021, the Board of Governors of the Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation finalized new cyber incident notification requirements for institutions that they regulate and their service providers. The Notification Rule expands and clarifies existing notification obligations of financial institutions, which are primarily focused on consumer protection and suspicious activity reporting.
The Rising Standards of AML/CFT Compliance in Hong Kong
Hong Kong lawyers Susanne Harris, Wei Na Sim, Alan Linning and Charlene Wong discuss key developments in the AML/CFT space in Hong Kong in 2021 in this bylined article.
Cloud+ Strategic Partnerships: The Evolution of Cloud Services
We are increasingly seeing a deal model that we call a “Cloud+ Strategic Partnership.” In that model, a cloud provider agrees to provide discounts to and collaborate with a company in the development of new software that will run on the provider’s cloud infrastructure or cloud platform. This article contains some initial considerations.
TCFD: Preparing for Mandatory Reporting
Many UK companies will soon be mandated to make TCFD-aligned disclosures. This follows the Financial Conduct Authority’s (FCA) introduction of the Listing Rules (Disclosure of Climate-Related Financial Information) Instrument in December 2020, which requires companies with a UK premium listing to disclose on a comply-or-explain basis against the Task Force on Climate-related Financial Disclosures (TCFD) recommendations in their annual reports.
An Insider’s View: Can the Minority Effectively Conduct Oversight Investigations? (with Special Guest Jessica Donlon)
Quick Insights on Congressional Investigations is a series hosted by Mayer Brown partners Michael Levy and Andrew Olmem, who unpack the nuanced complexities underlying congressional investigations and provide guidance on how companies can manage and minimize the impacts. Each episode is short and tackles one question relating to congressional investigations.
US Federal Trade Commission Adopts Prescriptive Data Security Requirements and Other Updates to Its Gramm-Leach-Bliley Act Safeguards Rule
On October 27, 2021, the Federal Trade Commission issued a final rule (“Final Rule”) implementing most of the revisions it proposed in 2019, with some important modifications, to its Gramm-Leach-Bliley Act safeguards rule.
Climate Litigation in Brazil: New Developments in Seeking Government Action Towards More Ambitious Legislation
On October 26, just a week before the Glasgow Climate Change Conference (COP26), 70 NGOs led by Observatório do Clima filed a public civil action claiming that the current Brazilian National Policy on Climate Change, set forth by Law no. 12,187/2009, is inadequate and unable to provide a response to the current climate crisis.
NYDFS Clarifies Application of Cybersecurity Regulation to Covered Entities Adopting an Affiliate’s Cybersecurity Program
On October 22, 2021, the New York Department of Financial Services (“NYDFS”) issued an interpretive letter that provides guidance on how entities regulated by NYDFS (“Covered Entities”) may comply with the NYDFS Cybersecurity Regulation by adopting the cybersecurity program of an affiliate (“Affiliate Program Letter”).
COVID-19 Related Circulars or Guidance (Non-Exhaustive) Published By Financial Services Regulators of Hong Kong (Last Updated: 8 November 2021)
We have compiled a chronology table which serves as a quick reference point to track the circulars and guidance published by HK financial services regulators in relation to COVID-19.
Climate Change Impacts to the US Mortgage Industry
Climate change could have serious impacts on the mortgage industry, and stakeholders should take action now. That is the recent urgent message from federal regulators and mortgage industry stakeholders.
TCFD: Preparing for Mandatory Reporting
The latest issue of Mayer Brown’s IBOR Transition Digest—a periodic compendium of global regulatory and market developments and insights on the complex issues confronting financial market participants as they plan to transition from LIBOR and its variants to replacement benchmark interest rates.
Sponsoring Foreign Workers for Green Cards in 2021: Top 10 Issues for Employers to Validate in the Wake of a $14.25 Million Financial Settlement
What’s the State of Play Today?
Hong Kong SFC Unveils Consultation Conclusions on AML/CFT Guideline for Licensed Corporations
A virtual discussion on the regulatory aspects of the EO, its potential policy outcomes, and practical impacts on affected businesses. On July 9, 2021, President Joe Biden issued a far-reaching executive order (EO) on Promoting Competition in the American Economy that establishes a “whole-of-government effort” aimed at reducing corporate consolidation. The EO calls for federal agencies to undertake 72 separate initiatives across a range of industry sectors, including financial services, technology, transportation and communication services.
Charges Against US Bank Employees May Represent a New Frontier in COVID-Relief Fraud Cases
A virtual discussion on the regulatory aspects of the EO, its potential policy outcomes, and practical impacts on affected businesses. On July 9, 2021, President Joe Biden issued a far-reaching executive order (EO) on Promoting Competition in the American Economy that establishes a “whole-of-government effort” aimed at reducing corporate consolidation. The EO calls for federal agencies to undertake 72 separate initiatives across a range of industry sectors, including financial services, technology, transportation and communication services.
Biden Administration to Replace Travel Bans with Vaccine Mandates
A virtual discussion on the regulatory aspects of the EO, its potential policy outcomes, and practical impacts on affected businesses. On July 9, 2021, President Joe Biden issued a far-reaching executive order (EO) on Promoting Competition in the American Economy that establishes a “whole-of-government effort” aimed at reducing corporate consolidation. The EO calls for federal agencies to undertake 72 separate initiatives across a range of industry sectors, including financial services, technology, transportation and communication services.
