Blogs

Welcome to the June 2024 issue of “As the (Customs and Trade) World Turns,” our monthly newsletter where we compile essential updates from the customs and trade world over the past month.

The US Securities and Exchange Commission (SEC) recently released two new sources of guidance for the Marketing Rule.

Companies subject to the requirements of the Modernization of Cosmetics Regulation Act of 2022 (MoCRA) should take note that the deadline to register cosmetic facilities and list cosmetic products is fast approaching on July 1, 2024.

Three US agencies – the US Department of Commerce, Bureau of Industry and Security (BIS), the US Department of the Treasury, Office of Foreign Assets Control (OFAC), and the US Department of State – took new actions on June 11.

Headlines that Matter for Companies and Executives in Regulated Industries

In the latest installment of Five Questions, Five Answers, host Birgit Matthiesen is joined by International Trade & Investment Partner Leah Scarpelli to discuss the recent developments in US-China tariffs, specifically the Section 301 tariffs.

On May 13, the US Securities and Exchange Commission (SEC) and the US Department of the Treasury’s (USDT) Financial Crimes Enforcement Network (FinCEN) jointly released a notice of proposed rulemaking (NPRM) which, if adopted, would require SEC-registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to establish policies and procedures to verify the identities of their customers.

On April 20, New York Governor Kathy Hochul signed the state’s Budget for the fiscal year 2025. This budget includes a new provision for paid prenatal personal leave, which is an amendment to Section 196-b of the New York Labor Law, also known as the New York State Paid Sick Leave Law.

On May 30, the US Supreme Court, in National Rifle Ass’n of Am. v. Vullo, 602 US __ (2024), unanimously held that the National Rifle Association (NRA) plausibly alleged in a complaint that it filed in federal court that former Superintendent Maria Vullo of the New York State Department of Financial Services (DFS) violated the First Amendment of the US Constitution by coercing regulated entities to terminate their business relationships with the NRA in order to punish or suppress gun-promotion advocacy.

Under current US Food and Drug Administration (FDA) guidance, sexually active gay and bisexual men are prohibited from anonymously donating sperm.

On June 5, the US Court of Appeals for the Fifth Circuit vacated a US Securities and Exchange Commission (SEC) Rule designed to provide investors in private funds — such as private equity, private credit, hedge funds, venture capital, and real estate.

Headlines that Matter for Companies and Executives in Regulated Industries

Two years after declaring a national emergency and instructing the US Department of Commerce (Commerce) to pause the imposition of AD/CVD duties applicable to certain imports of crystalline silicon photovoltaic solar cells and modules from four countries in Southeast Asia, President Joe Biden announced on May 14 that his administration is ending the so-called “solar bridge” created through Presidential Proclamation 10414.

Have you recently visited a plaintiff lawyer’s website? If so, then you may be entitled to compensation under the most contrived California Invasion of Privacy Act (CIPA) theory yet.

Recent events have caused hospitals and health systems nationwide to contemplate more robust participation in the long term care (LTC) sector, whether through modified ownership, joint venturing, clinical affiliation, or third-party management.

Although a senior living property manager is not the party on the hook for the loan, it is important that they review and negotiate certain provisions in the owner’s loan documents that affect their rights and obligations in connection with the loan.

On May 26, the Illinois legislature passed comprehensive carbon capture, utilization, and sequestration (CCUS) legislation.

ESG stands for “environmental, social, and governance.” Though often overlooked, two recent cases — Spence v. American Airlines and Exxon v. Arjuna Capital, LLC — focus on G’s place in the ESG initialism.

Headlines that Matter for Companies and Executives in Regulated Industries

PHL Variable Insurance Company (PHL) and its subsidiaries, Concord Re, Inc. and Palisado Re, Inc., have been placed into rehabilitation as of May 20, by order of the Superior Court of the State of Connecticut, Judicial District of Hartford.

On May 15, BIC USA Inc. was hit with a proposed class action in California federal court concerning allegations that some of its razors contain per- and polyfluoralkyl substances (PFAS), sometimes referred to as “forever chemicals.”

On May 16, Maryland amended its Clean Indoor Air Act by prohibiting vaping in indoor places of employment. The amendments go into effect on July 1.

On May 7, the Federal Trade Commission (FTC) published a Final Rule banning noncompete covenants for workers, including employees, independent contractors, and volunteers.

On April 26, the US Department of Health and Human Services Office for Civil Rights (OCR) published a Final Rule that adds protections under the Health Insurance Portability and Accountability Act (HIPAA) Privacy Rule designed to support the privacy of reproductive health care.

Headlines that Matter for Companies and Executives in Regulated Industries