ILN Today Post

Four Howard & Howard attorneys named to several committees within Illinois State Bar Association

Royal Oak, Michigan, May 23, 2017: Howard & Howard Attorneys PLLC is pleased to announce that several of our attorneys have been appointed/reappointed to various committees within the Illinois State Bar Association for the 2017-2018 term.

The attorneys and their appointments/reappointments are as follows:

Timothy D. Gronewold has been reappointed to serve as a Member on the Labor & Employment Law Section Council.
Thomas E. Howard has been reappointed to serve as a Member of the Standing Committee On Judicial Evaluations – Outside Cook County and the Commercial Banking, Collections & Bankruptcy Law Section Council.
Timothy J. Howard has been appointed to serve as Chair of the Senior Lawyers Section Council.
Michael R. Lied has been reappointed as a Member of the Standing Committee on Continuing Legal Education.
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ILN Today Post

Revenue Sharing: Risks, Rewards, and Reality for Plan Fiduciaries

Practically all companies that sponsor a 401(k) plan hire a third party to administer and recordkeep their plan. These third party administrators, or “TPAs,” offer different kinds of service packages. The most commonly used is the “bundled service arrangement” under which a TPA provides a variety of plan-related services for one fee. Under most bundled service arrangements, this fee is paid partially or entirely through “revenue sharing,” which refers to payments made to the TPA by some of the mutual funds that are made available under the plan. Many plan sponsors prefer bundled service arrangements because they don’t have to negotiate a fee for each service the TPA provides and because fees are paid through revenue sharing (i.e., fees do not have to be paid by the plan sponsor or charged directly to participant accounts).

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RSS joins Action Centre for a benefit

May 24, 2017 — The President’s Cup is a wheelchair basketball tournament that serves as a fundraiser for Action Centre, a Lasalle community organization that promotes the social inclusion and active participation of adults with physical disabilities. The eighth edition of the tournament was held on Saturday, May 13.

The tournament was a success, for two reasons. First, it raised $40,000 for the organization. But, more importantly, the team consisting of Brigitte Garceau, Jonathan Feingold, Stewart Litvack, Zachary Ouimet and Jean-Pierre Sheppard proudly represented RSS by winning the competition, with support from family and friends.

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Picking: A Few IP Collectibles Since My Last Post

ross-sokolovski-123930There is a popular television show in the United States called American Pickers, which follow the adventures of antique and collectible “pickers” Mike Wolfe and Frank Fritz.  Wolfe and Fritz travel around in a van with the logo Antique Archeology to buy, or “pick,” various items for resale, for clients, or for their own personal collections—sometimes with a plan based on background research where destinations and items are predetermined and others by chance when they are “free-styling.”  One of the beauties and challenges of an intellectual property practice is how many interesting issues, cases and developments are out there for one to explore.  And so, in a legal sense, we “pick” as well, sometimes for clients and sometimes for one’s own personal collections, sometimes while looking for specific items and sometimes while free-styling. 

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Change is Not Just a Six Letter Word: CLOC Urges Lawyers to Put Ideas in Action

Change - Speedometer Races to RevolutionAt the recent CLOC Institute, Connie Brenton, CLOC President & CEO, along with Chief of Staff/Director of Legal Operations for NetApp gave us a challenge:

Stop thinking about how we can fit into the world around us. Start thinking about how we can change the world around us.”

For many of us, that change has started with sharing what we heard at CLOC with our own corners of the legal ecosystem, and keeping that drumbeat for change sounding. While I plan to recap some of the key sessions I attended, I first wanted to share with you some of the excellent articles that have come out following the conference, which should be further galvanizing the legal industry.

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Year-End Reviews Highlight Antitrust Enforcement in, And Guidance Relevant to, Health Care Industry; Aggressive Enforcement is Likely to Continue in 2017

The Federal Trade Commission (“FTC”) and the Antitrust Division of the Department of Justice (“Antitrust Division”) released their respective year-end reviews highlighted by aggressive enforcement in the health care industry. The FTC, in particular, indicated that 47% of its enforcement actions during calendar year 2016 took place in the health care industry (including pharmaceuticals and medical devices). Of note were successful challenges to hospital mergers in Pennsylvania (Penn State Hershey Medical Center and Pinnacle Health System), and Illinois (Advocate Health Care Network and North Shore University Health System). In both actions, the FTC was able to convince the court that the merger would likely substantially lessen competition for the provision of general acute-care hospital services in relevant areas in violation of section 7 of the Clayton Act. See FTC v. Penn State Hershey Med. Center, 838 F. 3d 327 (3d Cir. 2016); and FTC v. Advocate Health Care Network et al No. 1:15-cv-11473, 2017 U. S. Dist. LEXIS 37707 (N.D. Ill.Mar. 16, 2017)

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ILN Today Post

How compliance is the biggest issue for CFOs

As much as Chief Executive Officers (“CEOs”), Chief Financial Officers (“CFOs”) have been involved in corporate scandals reported around the world. There have been instances of connivance between CEOs and CFOs in fraudulent irregularities. Corporate scandals often involve material accounting manipulations, or what is commonly referred to as “cooking the books” which cannot otherwise be accomplished without the tacit nod of the CFO.

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ABA responds: Big reforms for small business lending are on their way

On 28 March 2017 the Australian Bankers’ Association (ABA) released its response to Mr Phil Khoury’s independent review of the Code of Banking Practice (Code) issued on 20 February 2017 (Khoury Report). The Code applies to personal and small business bank customers and sets out the banking industry’s key commitments and obligations to customers on standards of practice, disclosure and principles of conduct for their banking services. Our update on the Khoury Report is available here.

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Cook County Sick Leave Poster and Draft Regulations Are Available

E. Jason Tremblay

E. Jason Tremblay

In anticipation of the upcoming effective date (July 1, 2017) of the Cook County “Earned Sick Leave” Ordinance, the Cook Commission on Human Rights recently published the mandatory poster required to be posted by all employers covered by the Ordinance. A copy of the poster is available here.

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EB-5 Update – Extension and Current Senate Bills

Arnstein & Lehr Attorney Ronald Fieldstone

Ronald R. Fieldstone

It is common knowledge the EB-5 investor program received extensions through September 30, 2017. Accordingly, until further changes happen, the existing program will remain in place.

There are currently two (2) key bills that have been presented. One is the Grassley Bill, which is a modification of the old Senate 1501 Bill proposed back in June of 2015 by Senators Grassley and Leahy. The active call “American Job Creation and Investment Promotion Reformat to 2017.” The other bill was proposed by Senator Cornyn of Texas, which has also been submitted in the Senate. Basically, the two (2) factions which represent rural/urban interest are negotiating immigration points that in effect include the following:

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