In the wake of the financial crisis and the so-called ‘shareholder-spring’ of 2012 (a period during which many shareholders refused to endorse directors’ remuneration policies), the government has introduced new rules on directors’ remuneration reporting. The new rules: (i) increase the compliance burdens regarding the reporting of directors’ remuneration policies; (ii) increase shareholder control over
November 2013
New Directors’ Remuneration Regime: The Facts for Life Sciences Companies
In the wake of the financial crisis and the so-called ‘shareholder-spring’ of 2012 (a period during which many shareholders refused to endorse directors’ remuneration policies), the government has introduced new rules on directors’ remuneration reporting. The new rules: (i) increase the compliance burdens regarding the reporting of directors’ remuneration policies; (ii) increase shareholder control over…
Proposed IRS Regulations for 501(c)(4)s: Sooner Than Expected, But Probably Too Late
Yesterday evening the Treasury and the IRS released, sooner than expected, proposed regulations that could fundamentally change the playing field for 501(c)(4) organizations active in politics. The proposed regulations will be published in the Federal Register on Friday, November 29. The pre-publication version is here.
Highlights
The proposed regulations mirror the approach first taken…
Institutional Investor Names the 40 Most Influential People in Pensions
Who is most influential in shaping the future of the nation’s pensions? Institutional Investor names the top 40 for 2013. The list includes politicians (such as Rahm Emanuel and two U.S. senators), actuaries, hedge fund managers, government officials, academics − and two lawyers in private practice, David Boies (for his work defending Rhode Island’s…
Abusive Denigration: Reflections on the Case of the French Competition Authority against Sanofi-Aventis
Earlier this year, the French Competition Authority (“FCA”) held that Sanofi-Aventis infringed the competition laws by implementing a “denigration strategy” aimed at convincing healthcare professionals to limit prescriptions and sales of generic versions of its branded product, Plavix. As punishment for the infringement, the FCA fined Sanofi-Aventis €40.6 million.
This decision is another example of…
Berlin Court Condemns Google, Strikes Provisions in Privacy Policy and Terms
On Tuesday, 19 November, the Regional Court of Berlin ruled against Google in a case brought by the Federation of German Consumer Associations (vzbv). The vzbv had initiated an action for injunction against Google, requesting it to stop using certain clauses in its Terms of Use and Privacy Policy. In Germany, consumer associations have a…
Ireland Proposes Amendments to Copyright Law
On 29 October 2013, the Republic of Ireland’s Department of Jobs, Enterprise and Innovation (DJEI) published a report containing proposed amendments to its copyright laws, named “Modernising Copyright” (“the Report”). Taking account of submissions received during a public consultation that ran between February and May 2012, the DJEI’s Copyright Review Committee (CRC) uses…
GAO: Congress Should Consider Strengthening the Current Consumer Privacy Framework
On November 15, 2013, the Government Accountability Office (GAO) released a report entitled Information Resellers: Consumer Privacy Framework Needs to Reflect Changes in Technology and the Marketplace. In the report, the GAO finds that the applicability of the primary federal privacy and data security laws — such as the Fair Credit Reporting Act (FCRA),…
Google Settles Safari Tracking Charges Brought by State AGs for $17 Million
Google has entered into a $17 million settlement agreement with attorneys general from 37 states and the District of Columbia over allegations that the company engaged in unauthorized tracking of users of Apple’s Safari browser in 2011 and 2012. The allegations stemmed from 2012 reports that Google had bypassed Safari’s default privacy settings and placed…
Fiduciaries May Be Responsible for Call Center Statements to Fill in Gaps in SPD
A recent Seventh Circuit case, Killian v. Concert Health Plan (Nov. 7, 2013), highlights two important principles for any plan sponsor or fiduciary:
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