The Food and Drug Administration has proposed revoking the regulation that authorizes the use of brominated vegetable oil (BVO) in food because the agency no longer considers it safe. Public comments on the proposed rule are due Jan. 17, 2024. Read on to learn what California and New York are doing related to BVO and
Beneficial Ownership Reporting Requirements under the Corporate Transparency Act
Corporate Transparency Act Beneficial Ownership Reporting Requirements to Take Effect
In 2021, the Corporate Transparency Act (“CTA”) was enacted as part of the Anti-Money Laundering Act of 2020, requiring certain business entities (“Reporting Companies”) to report beneficial ownership information (“BOI”) to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”). FinCEN issued the final
HHS Advisory Opinion Approves Profit-Based Bonus Plan for Bona Fide Physician Employees
On Oct. 13, the U.S. Department of Health and Human Services Office of Inspector General issued an advisory opinion approving a physician practice’s proposal to pay bonuses to each of its employed physicians based on net profits derived from the facility fee generated by procedures the physician performed at the practice’s ambulatory surgery center.
Economic Crime and Corporate Transparency Act Becomes Law: What Companies Need to Know
On 26 October 2023, the Economic Crime and Corporate Transparency Act received royal assent. The new law is designed to fight corruption, money laundering and fraud, and has major implications for businesses, including:
California Bans Four Common Food Additives and 26 Chemicals Used in Cosmetics
Gov. Gavin Newsom recently signed into law the California Food Safety Act and amendments to the 2020 Toxic-Free Cosmetics Act. Together, they ban four additives commonly used in popular snacks and beverages, and an additional 26 chemicals found in many personal care products.
Read on for details about these developments impacting food and personal care
The FTC and CFPB Announce New Rules to Tackle Junk Fees
On October 11, 2023, President Biden, Federal Trade Commission (FTC) Chair Lina Khan, and Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra announced the latest developments in the government’s efforts to tackle junk fees. Junk fees are hidden, surprise fees imposed on customers without clear disclosure.[1] The CFPB and FTC have taken several measures
DOJ Announces Safe Harbor Policy for Mergers and Acquisitions
In the U.S. Department of Justice’s continuing efforts to incentivize voluntary disclosure of corporate misconduct, Deputy Attorney General Lisa Monaco announced the Criminal Division’s latest corporate self-disclosure policy this week, aimed at mergers and acquisitions specifically (remarks Here). Pursuant to DOJ’s new Mergers and Acquisitions Safe Harbor Policy (the “Policy”), acquiring companies that promptly
California Climate Accountability Package Poised to Disrupt
During the week of September 11, 2023, the California Legislature passed a series of bills known collectively as the “California Climate Accountability Package” (“CCAP”). The CCAP is comprised of three bills: S.B. 252 (applicable only to two California state pension funds, and not discussed further herein), S.B. 253 (the “Climate Corporate Data Accountability Act” of
“There are Cops on the Beat”: DOJ’s Procurement Collusion Strike Force Leader Emphasizes Criminal Antitrust as Top Enforcement Priority
On September 14, 2023, Daniel W. Glad — Director of the Procurement Collusion Strike Force (“Strike Force”) for the Department of Justice’s (“DOJ”) Antitrust Division — gave remarks as the keynote speaker for the Virginia Bar Association’s Annual White-Collar Fall Forum, emphasizing a renewed commitment to pursuing criminal investigations in the federal procurement arena. DOJ
DOJ Settles Self-Reported Referral Incentives With Dermatology Practice Manager
On Sept. 13, the U.S. Attorney’s Office for the Northern District of Texas announced a settlement with Oliver Street Dermatology Management LLC to resolve self-reported allegations that its acquisition of several dermatology practices violated the Stark Law, the Anti-Kickback Statute and the False Claims Act.
Read on for details about this matter, plus helpful guidance