Minority Leader Mitch McConnell (Ky.) overcame a challenge from Sen. Rick Scott (Fla.) to remain the Republican party's leader in the Senate. as chairman of the Senate Republican Conference, Sen. Joni Ernst (Iowa) to run the Senate Republican Policy Committee, Sen. Shelley Moore Capito (W. Va.) to serve as vice chair of the Senate Republican Conference, and Sen. Steve Daines (Mont.) In the House of Representatives, current Minority Leader Kevin McCarthy (Calif.) was voted the Republican nominee for Speaker of the House. Rep. Tom Emmer was elected whip of the House Republican Conference. Rep. Elise Stefanik (N.Y.) was reelected conference chair and Rep. Richard Hudson (N.C.) will serve as the National Republican Congressional Committee Chair.
High Court Allows Taxpayers' Application For Leave To Commence Judicial Review And StayTo print this article, all you need is to be registered or login on Mondaq.com. Recently, the High Court confirmed the availability of judicial review as a mechanism to resolve such disputes, when 2 separate judges of the Kuala Lumpur High Court (KLHC) granted leave for judicial review to the applicants to challenge decisions by the tax authorities involving a DTA matter. Aggrieved, A1 and A2 commenced judicial review applications in the High Court to challenge these decisions. This is a pure question of law which is suitable for judicial review. Nevertheless, A2 has legal standing to file the judicial review application as it is an aggrieved party.1 month ago Mondaq
Then, in July, came another challenge, as SCOTUS handed down West Virginia v EPA, which, although not directly addressing the SEC's climate proposal, sure seemed to put a bull's eye on it. At over 500 pages, the SEC's climate disclosure proposal would add an entire new subpart to Reg S-K and a new article to Reg S-X. Gensler feared the provisions would bolster court cases to scrap the climate disclosure rules, but Commissioners Caroline Crenshaw and Allison Lee convinced him to proceed. SideBarIn this July report, Responses to the SEC's Climate Proposal, KPMG discusses various themes and observations that it gleaned from its review of comment letters on the SEC's climate disclosure proposal issued in March. In addition, see this article in the WSJ, which also reviewed comment letters on the SEC's climate disclosure proposal.1 month ago Mondaq
But the Fifth Circuit does not explain why double-insulation violates the Appropriations Clause and single-insulation does not. Implications and Next StepsThe logic of the Fifth Circuit's ruling threatens all the CFPB's actions since its inception. The CFPB almost certainly will appeal the panel's ruling, either to the entire 17-member Fifth Circuit or directly to the Supreme Court. For example, in the Fifth Circuit, expect the agency's enforcement actions to be challenged or delayed until the panel's decision is affirmed or reversed. Regulated entities litigating with the CFPB in other circuits are already urging courts to adopt the Fifth Circuit's ruling.1 month ago Mondaq
Our analysis discusses how major policy issues and economic sectors will fare in the next two years of the Biden Administration and the incoming 118th Congress. These four domestic storylines have dominated much of the political and policy landscape during the first two years of the Biden Administration. Crisis 1: The Worldwide PandemicWhen President Biden took office, the vaccines produced in coordination with President Trump's Operation Warp Speed were ready to go to market. The Biden Administration also coordinated worldwide vaccine distribution efforts that were largely successful. Back home, the Biden Administration led the debate and provided regulatory actions across the government about how best to reopen schools and businesses.13 days ago Mondaq
Two additional rules mandated by the AMLA are expected to follow: one to revise the Customer Due Diligence Rule (CDD Rule) and another addressing access to the forthcoming beneficial ownership registry. The CTA and the Final Rule significantly expand the mandatory collection of beneficial ownership information (BOI) in the United States, and the CDD Rule will therefore need to be revised. The Final RuleReporting CompaniesThe Final Rule requires certain U.S. and foreign legal entities (defined as "Reporting Companies") to provide FinCEN with specific information about the company's ownership. Covered entities subject to the CDD Rule should continue to comply with the CDD Rule as-is and may be required to collect BOI from entities that will not be subject to the Final Rule. In the Final Rule, FinCEN removed corporate secretary and treasurer as beneficial owners, recognizing that these roles tend to be ministerial.1 month ago Mondaq
The Supreme Court recently denied petitions for writs of certiorari in three closely watched cases where parties asked the Court to clarify the heightened pleading standard governing fraud allegations under the False Claims Act (FCA). Among other things, a cause of action for "false claims" must allege the defendants submitted false claims, or caused false claims to be submitted, to the government. The Supreme Court invited the Solicitor General to weigh in. It remains to be seen whether the Supreme Court will address Rule 9(b)'s requirements as applied to the FCA in the future. This issue has been widely discussed and closely watched by FCA observers, and numerous stakeholders want the Supreme Court to weigh in.1 month ago Mondaq
As most have heard by now, the National Basketball Association (NBA) and the Brooklyn Nets suspended star player Kyrie Irving for espousing, and then not disavowing, antisemitism. Irving's employer, the Nets, ordered him to apologize for promoting the film, he refused, and the Nets suspended Irving without pay. Irving's Employer Suspended HimIn the face of antisemitism, employers must act promptly to stop and abate the effects of the discrimination. Federal law, Title VII of the Civil Rights Act of 1964, prohibits discrimination, harassment, and retaliation based on religion. Secular Jewish employees may challenge antisemitic discrimination or harassment based on an employer's disparate treatment.21 days ago Mondaq