Legal Alerts

Legal Alerts

  • September 22, 2023
    Targeting Sanctions Evaders: U.S. Imposes Additional Sanctions on Russian Elites & Industrial Complex

    In a move aimed at undermining Russia's workarounds to evade sanctions thus far, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) recently imposed nearly 100 new sanctions on Russia's industrial base, financial institutions, and technology suppliers. The Department of State has also designated more than 70 individuals.

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  • September 19, 2023
    The Impact of the Russia-Ukraine Conflict on the Insurance Industry, Part Six: Russian Airline Plans to Buy More Seized Planes

    Lewis Brisbois has commented extensively on the conflicts between aircraft lessors and insurance companies related to aircraft detained in Russia due to the Russia-Ukraine conflict. The sixth part of this series looks at Russian state-owned airline Aeroflot’s plans to buy the detained airplanes.

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  • September 15, 2023
    IRS Harnesses AI to Crack Down on Tax Code Abuses

    On September 8, 2023, the IRS announced a sweeping new effort to crack down on abuses of the tax code by focusing more attention on high-income earners, partnerships, large corporations and promoters. To that end, the IRS indicated it would utilize Artificial Intelligence (AI) to detect tax evasion, identify emerging compliance threats, and improve case selection tools to avoid unnecessary audits.

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  • September 12, 2023
    FTC Settlement With Shows Consequences Of Data Privacy Lapses

    The Federal Trade Commission (FTC) recently finalized an order with the genetic testing company, (formerly known as Vitagene), to resolve allegations stemming from’s handling of sensitive consumer data and changes to its privacy policy.

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  • September 06, 2023
    New OFAC Blocking Sanctions Target Russia's Financial Elite

    On August 11, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a new set of Specially Designated Nationals (SDN) blocking sanctions on four prominent Russian businesspeople, as well as an association representing Russian business interests. This announcement, a year and a half after commencement of the Russian-Ukrainian conflict, shows that the sanctions landscape continues to evolve and pose continued legal risk.

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  • August 31, 2023
    IRS Guidance May Narrow Employers’ Eligibility For COVID Tax

    The IRS issued a Memorandum last month addressing when an employer may be considered to have experienced a full or partial suspension of operations during the COVID-19 pandemic in 2020 or 2021 for purposes of an employment tax credit, and the agency’s guidance indicates it may be seeking to retroactively narrow availability of the credit.

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  • August 30, 2023
    EEOC Makes Good On AI Warning In First Age Discrimination Dispute

    Ageist robots! As we projected in our previous Client Alert, artificial intelligence tools used to assist in employment decisions have created legal exposure as reflected by the Equal Employment Opportunity Commission’s (EEOC) recent filing and resolution of its first-ever AI discrimination in hiring lawsuit.

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  • August 28, 2023
    SEC Issues New Impactful Restrictions and Disclosure Requirements on Private Fund Advisers

    On August 23, 2023, the Securities and Exchange Commission (SEC) voted 3-2 to adopt significant changes under the Investment Advisers Act of 1940 (Advisers Act) aimed at enhancing the regulation of private fund advisers including, in some instances, those that are not registered with the SEC. These new rules and amendments will, among other things, have an important impact on how private fund advisers report performance information to investors and utilize side letters to negotiate and attract investment. 

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