In a major development on 13 September 2022, the UAE Ministry of Justice called upon the Dubai Courts to enforce judgments of the English Courts in the UAE going forward, based on principles of reciprocity.
September 15, 2022
The European Commission is expected to announce a proposal shortly that will ban products made using forced labour.
September 12, 2022
This client alert addresses strategic considerations in providing a general framework to consider in maximizing the possibility of barring subsequent lawsuits after a settlement with the California Attorney General.
September 7, 2022
Gibson Dunn’s D.C. Circuit Foreign Sovereign Immunities Act Enforcement Update summarizes recent decisions within the D.C. Circuit that are relevant to the enforcement of judgments and arbitral awards against foreign states.
September 7, 2022
In an August 11, 2022 letter to the Department of Justice, Senators Elizabeth Warren (D-Mass) and Ben Ray Lujan (D-N.M.) signaled renewed congressional interest in the Government’s right to suspend or debar government contractors and federal financial assistance recipients from obtaining new business, and pressed for DOJ to boost its use of this administrative remedy in connection with its prosecution of criminal or fraud cases.
August 31, 2022
Following a three-month consultation period, the Securities and Futures Commission’s Code of Conduct provision, paragraph 21, has come into effect on August 5, 2022.
August 31, 2022
On August 25, 2022, the Securities and Exchange Commission, in a 3-to-2 vote, adopted final rules implementing the pay versus performance disclosure requirement called for under Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
August 29, 2022
This client alert discusses a wave of class action legislation that will likely be seen towards the end of 2022. Many member states of the European Union will have to either devise new class action regimes or amend their existing provisions on collective redress.
August 23, 2022
The California Supreme Court held yesterday that a seller’s promotional statements about an artistic work of interest to the public amounted to commercial speech, regardless of whether the seller knew of the statements’ falsity.
August 19, 2022
The Court of Final Appeal has recently confirmed that a director is not liable to penalty, by way of additional tax, arising from an incorrect tax return filed by the company which he/she has signed and declared to be correct, on the basis that he/she should not be regarded having made the company’s incorrect tax return.
August 17, 2022
Carbon capture, utilization, and sequestration projects around the United States received a significant boost from the Inflation Reduction Act of 2022. The IRA, which President Biden recently signed into law, includes approximately $369 billion in incentives for clean energy and climate-related program spending, including CCUS projects.
August 16, 2022
The Committee on Foreign Investment in the United States released its annual report covering calendar year 2021. This report represents the first full calendar year in which the Committee operated pursuant to the new regulations implemented in 2020 under the Foreign Investment Risk Review Modernization Act of 2018.
August 12, 2022
Our 2021 Year-End Review, noted the Division of Enforcement under this Administration had outlined its vision of aggressive, heightened enforcement through an escalation of existing remedies. The first half of 2022 reflected the Enforcement Division pursuing the playbook as forecasted.
August 11, 2022
Gibson Dunn has surveyed the comment letters submitted by public and private energy companies and related industry associations regarding the proposed rules by the Securities and Exchange Commission on climate change disclosure requirements for U.S. public companies and foreign private issuers.
August 10, 2022
On August 7, 2022, the Senate voted 51-50 to pass the Inflation Reduction Act of 2022, which broadly addresses climate change, taxes, health care, and inflation. The action sends the measure to the House of Representatives for a vote as early as Friday of this week.
August 10, 2022
The second quarter of 2022 saw U.S. federal lawmakers and agencies focus on draft legislation and guidance aimed at closing the gap to the EU with respect to addressing risks in the development and use of AI systems, in particular risks related to algorithmic bias and discrimination. The American Data Privacy and Protection Act, the bipartisan federal privacy bill introduced to the U.S. House in June 2022, marks a major step towards a comprehensive national privacy framework, and companies should take particular note of its inclusion of mandated algorithmic impact assessments.
August 10, 2022
This Client Alert provides an update on shareholder activism activity involving NYSE- and Nasdaq-listed companies with equity market capitalizations in excess of $1 billion and below $100 billion (as of the last date of trading in 2021) during 2021.
August 9, 2022
On July 29, 2022, the New York Department of Financial Services released Draft Amendments to its Part 500 Cybersecurity Rules; the Draft Amendments would update the Cybersecurity Rules in a manner consistent with the “catalytic” role it took in 2017 as the first state to codify certain cybersecurity best practices and guidance into explicit regulatory requirements for covered entities.
August 8, 2022
On July 25, 2022, the U.S. Department of Justice entered into an $84.8 million settlement agreement with several poultry processing companies over allegations that the poultry processors conspired with one another to share wage and benefits information through third-party data aggregation firms.
August 1, 2022
On July 27, 2022, Senator Joe Manchin (D-West Virginia) and Senator Majority Leader Chuck Schumer (D-New York) announced an agreement on a reconciliation package entitled the Inflation Reduction Act of 2022 to address climate change, taxes, health care, and inflation.
July 29, 2022