On September 25 and 26, 2012, respectively, New York Stock Exchange LLC (NYSE) and The NASDAQ Stock Market LLC (NASDAQ) proposed amendments to their listing standards to comply with the requirements of Section 10C of the Securities Exchange Act of 1934 (the Exchange Act), as set forth in Exchange Act Rule 10C-1, relating to the independence of compensation committees and compensation advisers.
After many attempts, it appears that clothing designs may finally gain protection in the United States. On Monday, September 10th, Senator Charles Schumer re-introduced a new version of what is now called the Innovative Design Protection Act (IDPA) to provide quasi-copyright protection to “fashion designs.”
The most significant changes under the Patient Protection and Affordable Care Act (ACA) are scheduled to go into effect in 2014. One of those changes is the imposition of shared responsibility penalties on large employers that fail to offer health coverage to all of their full-time employees (or offer health coverage to full-time employees that is deemed to be unaffordable or inadequate).
On August 22, 2012, the U.S. Securities and Exchange Commission (the SEC) adopted its final rule requiring public disclosure by certain companies that file reports with the SEC and whose products contain tin, tantalum, tungsten or gold (conflict minerals).
The U.S. Patent and Trademark Office has instituted a pilot program in which it will be pulling some post-registration Declarations of Use and requesting proof of use for additional items listed in the goods/services description, instead of only one in a class, as is the custom now.
On Tuesday, July 10, 2012, the chairman of the Ohio Industrial Commission issued a notice of changes being implemented in the policy regarding hearing continuances and hearing procedures via the publication of a temporary IC Resolution, effective from July 11, 2012 through September 8, 2012.
On June 20, 2012, the Securities and Exchange Commission (SEC) adopted a new final rule and amendments to current proxy disclosure rules regarding compensation committees. The new rule implements compensation committee listing requirements.
On June 11, 2012, Governor Kasich signed into law Substitute SB 315 (SB 315), modifying the Ohio regulatory structure for oil and gas operations contained in Revised Code 1509.
On June 11, 2012, Governor Kasich signed into law Am. Sub H.B. 487 (H.B. 487). That legislation includes changes to R.C. 5713.03, the section of the Revised Code that pertains to the valuation of real property in Ohio.
On June 15, 2012, the secretary of homeland security announced that effective immediately, certain young people who were brought to the United States as young children will be considered for relief from removal or from entering into removal proceedings.
The future of the Patient Protection and Affordable Care Act (ACA) will be determined by the Supreme Court decision expected this month. In the meantime, the regulatory agencies have continued to develop guidance that will apply to employers' group health plans – assuming health care reform survives intact.
At the governor's request, Senate Bill 315 was introduced in the Ohio Senate on March 22, 2012. After significant revisions, Senate Bill 315 passed the Ohio Senate on May 15, 2012.
This Independence Day, businesses in Ohio will have one more tool to attempt to resolve claims brought under the Ohio Consumer Sales Practices Act (CSPA). Effective July 3, 2012, companies sued under Ohio's CSPA can follow a statutory process to attempt to settle a claim at the beginning of a case.
In recent examinations, the FDIC has identified issues arising from the existence of "optionality" provisions in participation agreements that provide the originating lender with the option of repurchasing the participated portion of the loan upon a borrower default.
The Centers for Medicare and Medicaid Services (CMS) has issued two rulemakings aimed at alleviating procedural and administrative burdens on providers in response to the president's Executive Order 13563, Improving Regulation and Regulatory Review.
Beginning May 1, 2012 and continuing through June 15, 2012, the State of Ohio is conducting a General Tax Amnesty Program that under the right set of circumstances could provide significant savings for businesses and individuals with Ohio tax concerns. The General Tax Amnesty Program is separate from the Consumer Use Tax Amnesty Program, which began October 1, 2011 and runs through May 1, 2013.
