Legal Updates

Are you an accidental director?

This article was previously published in Real Business.

You might think it is very simple whether or not you are a director – after all, either you have been appointed to the board of a company, or you haven’t.

Company law, however, recognises that some individuals may in practice be acting as directors, even if they do not officially hold that title. The consequences may be significant. More…

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Reforms to the Community Infrastructure Levy

February 2014 saw another round of reforms to the Community Infrastructure Levy regulations. Many of these are welcome changes brought in to deal with some of the issues that have arisen since local authorities introduced their CIL charges.

A few of the headline changes to note: More…

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Social Media Privacy Update: What Employers Need to Know About New State Legislation

By Anna A. Cohen

As we previously reported, social media privacy has become the latest issue to be regulated by state legislation. Last week, Wisconsin jumped on the social media privacy bandwagon. On April 8, 2014, Wisconsin Governor Scott Walker signed legislation that in most cases prohibits employers, among others, from requesting or requiring passwords or other protected access to “Personal Internet Accounts” of current employees and applicants for employment.

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Business Restructuring Alert: New court rule significantly changes receiver appointment, duties and compensation

With little fanfare, the Michigan Supreme Court recently issued an order that significantly changes the rules related to the appointment of receivers. The Order (ADM File No. 2012-30) amends Michigan Court Rules 2.621 and 2.622 as follows:

  • Establishes rules for the appointment of receivers and the orders appointing them
  • Sets forth criteria that prospective receivers must meet
  • Clarifies the duties of receivers
  • Sets forth procedures for the payment of the fees of receivers and their professionals

The new Court Rules, effective May 1, 2014, were adopted after the portions of the originally proposed revisions regarding the selection of receivers were poorly received by judges and judicial groups around the state. While the new provisions raise questions that will generate new case law and cannot be fully addressed here, certain key points are summarized below. 

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Multistate Tax Update — April 17, 2014

Through a multifaceted approach, New York Gov. Cuomo and the New York Department of Taxation (Department) have increased tax collection efforts, penalties and criminal prosecution all in the name of collecting what is owed. New York is not alone in ramping up its efforts, as the trend in most states has been to increase tax collection efforts.

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New EU Regulation on Clinical Trials on Medicinal Products

On April 2, the European Parliament voted overwhelmingly to repeal the current EU Directive on clinical trials of medicinal products for human use and replace it with a new Regulation.  The primary goals of the new Regulation are to:

  1. Streamline the approval process for studies conducted across multiple Member states;
  2. Harmonize the regulation of clinical trials throughout the Member states; and
  3. Increase transparency of Clinical Trial results.
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Penalties Rise for ADA Noncompliance

By Andrea R. Calem

Noncompliance with the Americans with Disabilities Act just became costlier. Pursuant to an inflation-adjustment formula, on March 28, 2014 the Department of Justice (“DOJ”) issued a final rule raising the civil monetary penalties assessed or enforced by the Civil Rights Division, including those assessed under Title III of the ADA (“Title III”).

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Credit Union Regulatory Alert

Thank you for taking the time to read this Howard & Howard Credit Union Regulatory Alert. We aim to provide our credit union clients and friends with information to help you understand and interpret the ever-changing regulatory environment.

Be sure to review the links to our past Regulatory Alerts below the main article. And, of course, new readers can sign-up for our free e-Alerts here.  More…

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5 COMMON CREDIT CARD ACT VIOLATIONS (THURSDAY, APRIL 10, 2014)

It has been almost five years since the Credit CARD Act was passed by Congress and more than four years since the compliance dates set by the Federal Reserve Board (many compliance professionals may still be haunted by the date February 22, 2010). While it would seem like credit card compliance issues are in the rearview mirror, now is the perfect time for credit unions to review their procedures to ensure they remain compliant.

And, a lot has happened in the past four years - most notably the passage of the Dodd-Frank Act and the subsequent creation of the Consumer Financial Protection Bureau (CFPB). Now that the CFPB has met its Dodd-Frank mandates, its attorneys are freed-up to review other areas of concern -  including credit cards. More…

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The Starting Point of Extinctive Prescription vs. Knowledge of a Defect Revealed in an Expert’s Report

The Superior Court confirms an important principle: the moment when knowledge of a defect revealed in an expert’s report is acquired does not necessarily constitute the starting point of extinctive prescription of an action based on latent defects.

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