On August 18, 2020, the Department of Labor (“DOL”) announced new guidance on lifetime income disclosures that must be included in pension benefit statements furnished to participants in defined contribution plans, such as 401(k) and 403(b) plans. This guidance, issued in the form of an interim final rule, sets forth the rules that plan
August 2020
New Licensing Regulations to Import Agricultural Products into the EU: What Traders Should Know to Avoid Missing Quota Allocations in 2021
As of January 2021, many imports and exports of agricultural products covered by EU tariff quotas will be subject to the new licensing rules of Commission Delegated Regulation (EU) 2020/760 (“Delegated Regulation”) and Commission Implementing Regulation (EU) 2020/761 (“Implementing Regulation”) (together, “Licensing Regulations” or “Regulations”). The new Regulations introduce significant changes to – and are…
IRS Issues Notice 2020-65 Providing Guidance on Employee Social Security Tax Deferral
Late Friday, the IRS released Notice 2020-65 providing guidance to employers regarding the implementation of President Trump’s presidential memorandum issued on August 8, 2020. The memorandum directed the Secretary of the Treasury to defer the withholding, deposit, and payment of employee Social Security taxes for the period from September 1 to December 31, 2020 (see…
New Licensing Regulations to Import Agricultural Products into the EU: What Traders Should Know to Avoid Missing Quota Allocations in 2021
As of January 2021, many imports and exports of agricultural products covered by EU tariff quotas will be subject to the new licensing rules of Commission Delegated Regulation (EU) 2020/760 (“Delegated Regulation”) and Commission Implementing Regulation (EU) 2020/761 (“Implementing Regulation”) (together, “Licensing Regulations” or “Regulations”). The new Regulations introduce significant changes to – and are…
The CMA’s approach to jurisdiction in recent merger cases
By Rolf Ali
The Enterprise Act 2002 (“EA02”) affords the CMA broad discretion in asserting jurisdiction over mergers that may affect a UK market. Under the EA02, a relevant merger situation (“RMS”) exists where (i) two or more enterprises cease to be distinct; and (ii) either the UK turnover of the target exceeds £70 million (the “turnover test”)…
LGPD Effective Imminently
By Dan Cooper
On August 26, 2020, the Brazilian Senate rejected an alteration made to Article 4 of Provisional Measure 959/20 — an alteration intended to postpone the effective date of the General Data Protection Law (“LGPD”) until December 31, 2020. Following the removal of Article 4 — and many months of uncertainty — the LGPD’s effective date…
Inside Privacy Audiocast: Episode 3 – Emerging Data Privacy Issues in Brazil
By Dan Cooper
On our third episode of our Inside Privacy Audiocast, we are aiming our looking glass at Brazil’s new data protection statute, Lei Geral de Proteção de Dados (or LGPD), and are joined by Ronaldo Lemos, a partner at Rennó Penteado.
In our episode recorded earlier this week, Dan Cooper and Ronaldo discuss the…
IRS Warns Employers Claiming New Tax Credits of Erroneous Penalty Notices
The IRS recently announced that it erroneously sent failure-to-deposit (“FTD”) penalty notices to certain employers that reduced their employment tax deposits on Form 941 (Employer’s Quarterly Federal Tax Return) in anticipation of claiming sick and family leave credits under the Families First Coronavirus Response Act (“FFCRA”) or the employee retention credit (“ERC”) under the Coronavirus,…
New Section 889 Restrictions Included in Updated Uniform Guidance Regulations from the Office of Management and Budget
On August 13, 2020, the Office of Management and Budget (OMB) released new revisions to its Guidance for Grants and Agreements set forth under 2 CFR (commonly referred to as the Uniform Guidance). The Uniform Guidance governs the terms of federal funding issued by agencies, including grants, cooperative agreements, federal loans, and non-cash assistance awards. …
EPA Issues Emergency Approval for First-Ever Residual Antiviral Product
For the first time ever, EPA has approved a pesticide making residual antiviral claims under the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA). The approval may be a significant boon in the fight against COVID-19, but it also raises several key questions about EPA’s broader approach to combatting the novel coronavirus.…