On November 22, 2024, the SEC’s Division of Enforcement announced its Enforcement Results for Fiscal Year 2024. For key takeaways for fund managers, read our post on Proskauer’s The Capital Commitment blog.
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Consent Orders Are Gone But Board Consent Remains…For Now
On November 26, 2024, the National Labor Relations Board’s (“NLRB” or the “Board”) General Counsel, Jennifer Abruzzo, released GC Memorandum 25-02 to all Regional Directors, Officers-in-Charge, and Resident Officers, seeking to ensure that settlement agreements based on unfair labor practice
Déjà Vu All Over Again? NLRB Faces Partisan Overhaul Again with Key Legal Issues Hanging in the Balance
For the third time in eight years, both the National Labor Relations Board’s (“NLRB”) prosecutorial and adjudicative arms face a pending partisan overhaul after President-elect Trump’s inauguration on January 20, 2025.
While we anticipate that President-elect Trump will immediately terminate
Sixth Circuit Adopts IRS Standard to Determine Whether Activity Constitutes “Trade or Business” for Withdrawal Liability Purposes
Under 29 U.S.C. § 1301(b)(1), all “trades or businesses” under common control with an employer that has withdrawn from a multiemployer pension plan are jointly and severally liable for the employer’s withdrawal liability. The statute does not define what it means
Amazon, SpaceX Must Navigate Procedural Roadblocks in Constitutional Challenge of NLRB
On November 18, 2024, the U.S. Court of Appeals for the Fifth Circuit heard oral argument on cases involving Amazon.com Inc. and SpaceX, respectively, challenging the constitutionality of the National Labor Relations Board (“NLRB” or the “Board”) in several respects.
OFCCP Releases List of Contractors Selected For Audit – Is Your Company On It?
On November 20, 2024, OFCCP announced a new Corporate Scheduling Announcement List (CSAL) for supply and service contractors. The new list consists of 2,000 federal contractors and subcontractors selected for a Compliance Evaluation, Corporate Management Compliance Evaluation, Functional Affirmative Action
Third Circuit Refuses to Enforce Preliminary Reinstatement Order Issued By OSHA
On October 15, 2024, the U.S. Court of Appeals for Third Circuit declined to enforce a preliminary reinstatement order issued by OSHA in favor of two purported whistleblowers under SOX, holding that the former employees lost Article III standing after
Third Circuit Affirms Finding that Withdrawal Liability Assessment Was Untimely
When an employer withdraws from a multiemployer pension plan, the plan’s trustees must notify the employer of the amount of its withdrawal liability and demand payment. Employers assessed with withdrawal liability often argue that the assessment is untimely because the
IRS Creates Standardized Form for Section 83(b) Elections
Earlier this month, the Internal Revenue Service (“IRS”) released Form 15620, which is an approved IRS form for making Internal Revenue Code (“Code”) Section 83(b) elections. By way of background, Code Section 83(b) provides taxpayers with the ability to
IRS Creates Standardized Form for Section 83(b) Elections
Earlier this month, the Internal Revenue Service (“IRS”) released Form 15620, which is an approved IRS form for making Internal Revenue Code (“Code”) Section 83(b) elections. By way of background, Code Section 83(b) provides taxpayers with the ability to