On November 3, 2016, a new final rule from the Department of Defense (DoD) will take effect, requiring covered contractors and subcontractors to report a broad range of cyber incidents within 72 hours.
October 31, 2016
On October 2, 2016, the DOJ's National Security Division issued a memorandum entitled "Guidance Regarding Voluntary Self-Disclosures, Cooperation, and Remediation in Export Control and Sanctions Investigations Involving Business Organizations" (the "Guidance"). The Guidance specifies the DOJ's expectations for self-disclosure, cooperation, and remediation for companies seeking maximum mitigation credit in prosecutions for violations of the export-control and sanctions laws under the Arms Export Control Act ("AECA") and the International Emergency Economic Powers Act ("IEEPA"). As a way of background, the AECA is administered by the U.S.
October 28, 2016
Updated October 31, 2016 This revised alert supplements the version previously circulated on October 27, 2016. Although the 2016 Law does not contain a commencement date, we have learnt from sources at the Directorate of Investment and Company Administration that it will come into force on April 1, 2017.I. IntroductionThe Myanmar Investment Law ("2016 Law"), which replaces the Foreign Investment Law, 2012 ("2012 Law") and the Myanmar Citizen Investment Law, 2013 ("2013 Law"), has been enacted and, according to sources at the Directorate of Investment and Company Administration ("DICA"), will come into force on April 1, 2017. This new legislation follows the landmark victory of the National Leagu
October 27, 2016
For several years, Gibson Dunn has been reporting significant legal developments involving class actions on an annual basis, most recently in our 2015 Year-End Update on Class Actions. We are pleased to announce that, in addition to our annual year-end updates, we will now be providing quarterly updates of significant appellate class action decisions and trends.This update provides an overview and summary of key class action developments during the third quarter of 2016. Part I addresses recent decisions from the Third, Fifth, and Ninth Circuits regarding the impact of damages issues on Rule 23(b)(3)'s predominance requirement. Next, Part II discusses important class settlement decisions from the Second, Sixth, and Seventh Circuits. Finally, Part III
October 27, 2016
On October 20, 2016, the Antitrust Division of the Department of Justice ("DOJ") and Federal Trade Commission ("FTC") (collectively, the "federal antitrust agencies") jointly issued guidance for human resource ("HR") professionals regarding the application of the federal antitrust laws to hiring practices and compensation decisions. The guidance focuses on HR professionals as gatekeepers, explaining that they "often are in the best position to ensure that their companies' hiring practices comply with the antitrust laws." According to the federal antitrust agencies, "HR professionals can implement safeguards to prevent inappropriate discussions or agreements with other firms seeking to hire the same employees.&qu
October 26, 2016
A federal district court in Texas has granted a preliminary injunction enjoining implementation of key provisions of Executive Order 13673, Fair Pay and Safe Workplaces, and implementing regulations, which were scheduled to take effect today. As drafted, the Executive Order and corresponding Federal Acquisition Regulation ("FAR") provision, 81 Fed.
October 25, 2016
On October 19, 2016, federal banking regulators released an advanced notice of proposed rulemaking ("ANPR") that would impose heightened cybersecurity standards on many large financial institutions.
October 24, 2016
On October 7, 2016, the Office of Foreign Assets Control ("OFAC") of the U.S. Department of the Treasury issued additional guidance for non-U.S. persons engaging in transactions with Iranian counterparties pursuant to sanctions relief granted on "Implementation Day," January 16, 2016, under the Joint Comprehensive Plan of Action ("JCPOA"), the Iran nuclear deal finalized in July 2015.
October 24, 2016
On October 11, 2016, the United States Court of Appeals for the D.C. Circuit issued a historic decision in PHH Corp. v. Consumer Financial Protection Bureau, holding that the structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional.
October 13, 2016
On October 7, 2016, the Obama Administration announced the lifting of almost all remaining sanctions against Myanmar. The unwinding of sanctions comes on the heels of Aung San Suu Kyi's visit to the White House on September 14, 2016. This comprehensive unwinding of sanctions concludes a gradual relief process that first began in 2012. Most recently, on May 17, 2016, the Administration announced further easing of sanctions on Myanmar in response to Myanmar's historic November 2015 elections in which the National League for Democracy (NLD) – the long-time opposition party led by Aung San Suu Kyi – won an overwhelming majority of seats in the national legislature.
October 10, 2016
It has been close to two years since China announced that it would make major changes in its foreign investment related laws and regulations. The first step of such changes took effect on October 1, 2016, after the Standing Committee of the National People's Congress (China's parliament) passed resolutions (the "NPC Resolutions") to amend certain provisions of the FIE Laws (as defined below). On October 8, 2016, in implementing the NPC Resolutions, the PRC National Development and Reform Commission ("NDRC") and the PRC Ministry of Commerce ("MOFCOM") issued Public Announcement No. 22 ("Announcement 22"), and MOFCOM issued the Interim Measures for the Record-filing Administration of the Incorporation and Change o
October 10, 2016
The UK Prime Minister, Theresa May, has announced that Article 50 – the official legal notification to the EU that the UK is going to leave the bloc – will be triggered by end March 2017. This means the UK will be out of the EU by end March 2019. The UK will have two years from the Article 50 notice to negotiate the terms of its relationship with the EU. Theresa May has not given any information on the type of Brexit deal the UK Government will be pursuing. However, the Prime Minister insists that the UK will not "give up control of immigration again". The requirement for restrictions on free movement of people may make it difficult for the UK to remain in the EU single market.
October 3, 2016
On September 20, 2016, the European Securities and Markets Authority (ESMA) published a discussion paper seeking comments on draft regulatory technical standards (RTS) for its OTC derivatives trading obligation (the Discussion Paper) under the Markets in Financial Instruments Regulation (MiFIR). The Discussion Paper proposes technical standards and an implementation schedule for the determination of which derivatives will be subject to the European trading obligation. In contrast to existing U.S.
October 3, 2016
The Indian MarketThe Indian economy continues to be an attractive investment destination due to its sustained stable growth and implementation of further liberalization policies by the Government of India ("Government").
October 3, 2016
On September 28, 2016, the U.S. Congress voted to approve the Justice Against Sponsors of Terrorism Act ("JASTA"). President Obama had vetoed JASTA on September 23, 2016 but both the U.S.
September 30, 2016
This September 2016 edition of Gibson Dunn's Federal Circuit Update discusses the steep rise in appeals from the Patent Trial & Appeal Board due to the America Invents Act. The Update also includes a practice tip regarding the procedure for seeking rehearing of an adverse panel decision. Also included are summaries of the pending en banc case involving motions to amend claims during inter partes review as well as a trio of key recent decisions including two recent developments in Federal Circuit jurisprudence on patent eligibility under Section 101 and one recent decision on the application of common sense in an obviousness inquiry.Federal Circuit NewsOn September 16, 2012, the Leahy-Smith America Invents Act ("AIA") became effective and established the Patent Tri
September 29, 2016
On September 23, 2016, the Board of Governors of the Federal Reserve System (Federal Reserve) issued its long-expected proposed rule (Proposed Rule) relating to permissible financial holding company (FHC) commodities activities. The Proposed Rule follows up on the Section 620 Study (Study) issued by the U.S.
September 29, 2016
This alert follows on from our inaugural 2015 Year End UK White Collar Crime Update. The continuing pace of development, enforcement and change has encouraged us to produce this update on a bi-annual basis.
September 22, 2016
As the debate widens and the complexity of the challenges of Brexit emerges, it is becoming increasingly difficult to simplify the issues at the centre of the discussion. Much is being written and The Financial Times this week (w/c 19 September) had some interesting articles.This is what we are hearing: Whilst some academics continue to debate issues of process, the better legal view is that the Government is entitled to serve the Article 50 notice without Parliamentary approval.
September 22, 2016
Earlier this year, Gibson Dunn published the latest installment of its annual Transnational Litigation Update. See 2015 Year-End Transnational Litigation Update (February 17, 2016, accessible here). This Mid-Year Update expands on certain key issues addressed by the 2015 Update, including recent case law related to general jurisdiction, the application of United States statutes to extraterritorial conduct, and cross-border discovery. This Update also details Chevron's decisive victory in the U.S.
September 21, 2016