Bipartisan Senate Bill Proposes Significant Improvements To US Tax Administration
On Feb. 26, 2026 Senate Finance leaders Mike Crapo and Ron Wyden introduced the bipartisan Taxpayer Assistance and Service Act (TAS), a 162‑page, ten‑title bill aimed at overhauling IRS operations. The legislation requires the agency to fully digitize return processing, launch a real‑time service dashboard, and grant practitioners centralized account access. It also tightens penalty‑approval safeguards, orders a Treasury study to streamline FBAR reporting, and expands Tax Court jurisdiction and Appeals authority. If enacted, TAS could cut processing backlogs, improve transparency, and strengthen taxpayer rights across the system.
Stock Option Basics
Stock options are a key employee incentive, offered as Incentive Stock Options (ISOs) or Non‑Qualified Stock Options (NQSOs). ISOs can provide capital‑gain treatment if held for the required period, while NQSOs generate ordinary‑income tax at exercise under IRC 409A. Tax outcomes...
CFTC and SEC Announce Memorandum of Understanding on Regulatory Harmonization
On March 11, the Commodity Futures Trading Commission and the Securities and Exchange Commission signed a memorandum of understanding to formalize coordination across their regulatory domains. The agreement creates a Joint Harmonization Initiative targeting product definitions, clearing and margin frameworks,...
What Insurers Should Expect From 2026 Amendments to N.Y. Gen. B.L. § 349
The FAIR Business Practices Act took effect on February 17, 2026, revamping New York’s General Business Law § 349 to cover not only deceptive but also unfair and abusive practices. The law expands the Attorney General’s enforcement reach to out‑of‑state entities...
Treasury and Fed Officials Call for Bank Liquidity Coverage Ratio Reform
Treasury Under Secretary Jonathan McKernan and Fed Vice Chair Michelle Bowman urged reforms to the liquidity coverage ratio (LCR), calling it an over‑corrected post‑crisis rule that hampers bank lending. They highlighted that roughly 25% of large banks’ balance sheets are...
FINRA Announces Updates to Enforcement Program
FINRA announced on March 2 a series of updates to its enforcement program as part of the FINRA Forward initiative. The changes introduce introductory and final meetings, mandatory 90‑day status updates, a specialization program for complex cases, and a self‑reporting pilot...
Invalid Force Majeure Notice? Get Your Termination Strategy Right
The Commercial Court overturned GAFTA’s award in Olam Global Agri v Holbud, finding Olam’s force‑majeure claim invalid and confirming Holbud’s repudiatory breach. The court held that Holbud must prove it could have performed the contract to recover damages, and that...
Penalties, PARs, and Psychological Claims: Recent New York Workers’ Compensation Decisions
Recent New York workers‑comp rulings sharpen the limits on carrier liability and penalties. The Court of Appeals in Gonzalez held that attorneys cannot recover fees on late‑fee penalties, preserving the 20% surcharge for carriers. The 3rd Department upheld a $145,000...
The Triple‑Play – Adaptability, Cross‑Border Tools and Regulatory Capital, March 2026 - Four Lessons Learned in the Face of Constant...
The author reflects on a multi‑firm, multi‑practice legal career, distilling four lessons: engage recruiters only when truly considering a move, trust mentors who prioritize your interests, let evolving client needs shape your practice, and continuously expand beyond your comfort zone....
Massachusetts Construction Industry Continues to Wait While Prompt Payment Law Is Put to the Test
The Massachusetts Supreme Judicial Court is hearing J.C. Cannistraro, LLC v. Columbia Construction, a dispute that could redefine how the state’s Prompt Payment Act (PPA) is applied to high‑value private construction projects. The PPA automatically deems payment applications approved when...
Virginia Tightens the Screws on Non-Competes – Again
Virginia's General Assembly passed Senate Bill 170, which will become law pending the governor's signature, and dramatically narrows the enforceability of non‑compete agreements unless severance is disclosed. The bill renders any non‑compete unenforceable for employees terminated without cause who receive...
English High Court Accepts Classification of Refund Guarantee Obligation as Innominate Term in Shipbuilding Dispute
The English High Court in SLB and others v PAK confirmed that the obligation to provide refund guarantees in shipbuilding contracts is an innominate term rather than a condition. Because of this classification, buyers may terminate the contract for non‑delivery...
What’s in the New French Draft Law on Pay Transparency?
France’s Ministry of Labour released a preliminary draft law on pay transparency on 6 March 2026, replacing the current Professional Equality Index with seven new remuneration indicators for firms with 50+ employees. The draft mandates detailed reporting, publication of indicators, and stronger...
California's Fair Investment Practices by Venture Capital Companies Law Imposes New Registration and Reporting Obligations
California’s Fair Investment Practices by Venture Capital Companies Law (FIPVCC) takes effect March 1 2026, imposing registration and annual demographic reporting on venture‑capital firms with any California nexus. Covered entities must disclose founder diversity data for every portfolio company, regardless of location,...
ITAR & AI-Enabled Defense Technologies: Autonomous Systems, Targeting Algorithms, and the New Export-Control Frontier
Artificial intelligence is now embedded in U.S. defense systems, from autonomous ISR drones to AI‑driven targeting engines. The International Traffic in Arms Regulations (ITAR) is expanding to treat AI models, source code, training data, and collaborative services as "technical data"...
Maryland Paid FAMLI Program – Current Status and Key Updates
Maryland’s Time to Care Act created a statewide Paid Family and Medical Leave Insurance (FAMLI) program, but recent legislation has pushed back key dates. House Bill 102 delays employer and employee contributions to Jan 1 2027 and postpones benefit availability to between...
Beyond Price Per Acre – A Landowner’s Guide to Maximizing Value in a Data Center Site Sale
Landowners eyeing data‑center sales often focus on price per acre, but true value depends on power access, entitlement status, and infrastructure readiness. Buyers typically seek long diligence periods and cooperation to de‑risk the site, aiming to create a shovel‑ready or...
Recent Aspects to Consider Regarding Legal Compliance ("Compliance") And Other Related Matters
Mexico has introduced sweeping regulatory updates that force companies to overhaul internal controls across tax, trade, anti‑money‑laundering and labor domains. Firms must integrate materiality files for tax and foreign‑trade operations, revamp AML policies with automated monitoring, and prepare protocols for...
US Senate Advances Housing Legislation that Includes a Ban on Institutional Investors Purchasing Single-Family Homes
On March 12, 2026 the U.S. Senate passed the 21st Century ROAD to Housing Act by an 89‑10 bipartisan vote. The bill temporarily bans large institutional investors from purchasing single‑family homes and also blocks the Federal Reserve from issuing a...
Beyond Fundraising: Credit Capacity Meets Legal Insight, February 2026 - Sponsor-Backed Exits Add to Gains
Exit activity accelerated in January, with 148 sponsor‑backed transactions—the highest monthly count since 2023. The total deal value reached $51.6 billion, surpassing the trailing‑12‑month average by 26 %. This heightened exit velocity indicates stronger portfolio distributions for private‑equity and venture‑capital firms. Analysts...
SEC Exempts D&Os of Canadian Issuers From Section 16(a) Insider Reporting
On March 5, 2026 the SEC issued an order exempting directors and officers of Canadian issuers from the Section 16(a) insider‑reporting mandate of the Exchange Act. The exemption hinges on Canada’s National Instrument 55‑104, which the SEC deems a "qualifying regulation" in a "qualifying...
The UK North Sea at a Tipping Point: Why the UK Government Must Act Now
The UK North Sea faces a critical juncture as high taxes, a ban on new licences and geopolitical volatility are eroding investment and jobs. An effective tax burden of about 75 % under the Energy Profits Levy has driven rigs and...
When Credit Crumbles: UCC-Driven Remedies for Fund Finance, March 2026 - Defaults and Remedies: The Interaction Between Security Documents and...
The March 2026 article outlines how the Uniform Commercial Code (UCC) governs remedies for fund‑finance defaults, detailing the interplay between contractual security agreements and statutory provisions. It defines a default under both contract and UCC lenses, then walks through the...
DEI Enforcement Update: EEOC Investigations, Title VII Litigation, and Risks for Employers
The EEOC has moved from issuing DEI technical assistance in 2025 to actively enforcing Title VII through investigations and lawsuits in 2026. High‑profile actions against Nike and Coca‑Cola illustrate a focus on identity‑restricted internships, leadership programs, and gender‑specific events. A reminder...
Enhanced Financial Monitoring of Nonbank Mortgage Servicers Is Coming Soon
The U.S. GAO released a February 10 report urging Ginnie Mae and the FHFA to tighten financial monitoring of non‑bank mortgage servicers. Non‑banks now service 66 % of federally backed mortgages, representing over $9 trillion in securities, up from 27 % in 2014. The report...
Dual Jurisdiction Dispute Leads Delaware Board to Restore Claimant’s Disability Benefits
A Delaware Industrial Accident Board ordered the reinstatement of disability benefits for a worker employed by Amick Farms after a dual‑jurisdiction dispute between Maryland and Delaware. The claimant, who suffered injuries in 2021, 2022, 2023, and 2025, had his benefits...
Enriched Opportunities: The UK's New Advanced Nuclear Framework
On 1 February 2026 the UK Department for Energy Security and Net Zero released the Advanced Nuclear Framework, introducing a two‑part system: the Advanced Nuclear Pipeline and a suite of policy enablers for private SMR, AMR and MMR projects. The Pipeline provides...
Toolkits, Cross‑Border Branches, and Tokens — Regulatory Realignment in Action, March 2026 - FDIC Chairman Hill Outlines Plan to “Refocus”...
FDIC Chairman Travis Hill announced a regulatory overhaul aimed at simplifying the supervisory toolkit and focusing on material risks. The agency will clarify definitions of unsafe practices, refine the CAMELS rating framework, and reduce consumer‑compliance exam frequency for smaller banks....
AI Glasses Enter the Workplace: FAQs For Employers
AI‑enabled smart glasses are moving from novelty to workplace tool, offering hands‑free data capture and AI assistance. Their ability to record audio, video, and biometric data silently raises consent, privacy, and security concerns. Employers must navigate NLRA scrutiny of recording...
Virginia AG Joins Multistate Suit Over CFPB Funding Signaling More Aggressive Enforcement in the Commonwealth
Virginia Attorney General Jay Jones has joined a lawsuit filed by 23 Democratic state attorneys general challenging the Consumer Financial Protection Bureau’s (CFPB) interpretation of its Dodd‑Frank funding mechanism. The suit seeks a court order compelling the CFPB to request...
Georgia’s 2026 Legislative Session: Major Tax Legislation Moving Forward
Georgia’s 2026 General Assembly is advancing a suite of tax reforms as the session moves past the March 6 crossover deadline. Senate‑driven bills aim to dramatically increase the standard deduction to $50,000 for single filers and cut personal and corporate rates...
Global Antitrust Enforcement Report - March 2026
The Global Antitrust Enforcement Report for March 2026 shows total fines in surveyed jurisdictions rose to USD 7.7 billion in 2025, the highest level since 2021. At the same time, the number of infringement decisions fell to 279, down from 341 in 2024,...
Delaware Supreme Court Upholds Constitutionality of SB 21 Safe Harbor
The Delaware Supreme Court unanimously upheld the constitutionality of Senate Bill 21, confirming that the new statutory safe harbor for interested transactions remains valid and can be applied retroactively. The court clarified that the safe harbor does not strip the Court...
Colorblind?: Investors Allege Tricolor’s Lenders and Underwriters Ignored Persistent Red Flags
Tricolor Holdings, a subprime auto dealer‑financier, collapsed after a federal indictment revealed a multi‑year scheme that double‑pledged and fabricated loan collateral, securing roughly $800 million in extra financing and selling over $2 billion of asset‑backed securities. Investors now allege that the banks...
“Sealed According to Law”: The First Loan Closings in Antiquity – Part II
The article examines the earliest known loan closures, focusing on cuneiform clay tablets from Mesopotamia and comparable Egyptian practices. It details how duplicate clay tablets sealed with cylinder‑seal impressions protected agreements, and outlines the typical contents of ancient loans, including...
Court of International Trade Enforces Supreme Court Decision, Orders Removal of IEEPA Tariffs on U.S. Imports
A U.S. Court of International Trade judge ordered Customs and Border Protection to liquidate and refund IEEPA tariffs deemed unauthorized by the Supreme Court. The order applies to more than 330,000 importers covering over 53 million entries, effectively mandating refunds without...
U.S. Supreme Court Hears Arguments in Pung V. Isabella County
The U.S. Supreme Court heard oral arguments in Pung v. Isabella County, a case that could reshape how just compensation is measured in tax‑foreclosure takings. Building on the Tyler decision, the Court is evaluating whether the auction sale price can...
New York Trusts and Estates Legislative Developments of Which to Be Aware in 2026 and Beyond
New York’s 2025 legislative package introduces two transformative measures for trusts and estates. The Electronic Wills Act, effective 2027, permits fully electronic wills that must be signed by the testator (or authorized signatory) in the presence of two domiciliary witnesses...
Wage Protection System Coming Into Effect in Bahrain
Bahrain is launching a Wage Protection System (WPS) that obliges all employers to disburse salaries via licensed banks or Central Bank‑regulated payment providers, creating an electronic audit trail of wage payments. The reform replaces fragmented payment methods with a unified,...
New GSA Guidance on Protecting CUI in Contractor Systems, Plus a Look Ahead at Pending FAR Changes
The General Services Administration issued a five‑phase procedural guide to protect Controlled Unclassified Information (CUI) in contractor‑owned systems, outlining concrete deliverables from preparation through continuous monitoring. A parallel FAR Council proposal would embed a standardized CUI clause, a new form,...
How Many Matches Does It Take to Start a Fire?
The article uses Carl Sagan’s match‑room metaphor to illustrate how litigants can ignite mutually destructive outcomes by focusing solely on legal victories. It argues that mediators must remind parties they are in a “room full of gasoline,” where a single...
FAQs on Timing of Initial Section 16(a) Reporting for Directors and Officers of Foreign Private Issuers
The SEC’s Division of Corporation Finance released FAQs on March 9, 2026 clarifying initial Section 16(a) reporting for directors and officers of foreign private issuers (FPIs) under the Holding Foreign Insiders Accountable Act, which became effective March 18, 2026. The guidance outlines when Form 3 must...
SEC Investor Advisory Committee to Consider Recommendation on Tokenization of Equity Securities
On March 5, 2026 the SEC Investor Advisory Committee’s Market Structure Subcommittee issued a recommendation on tokenizing equity securities, slated for a vote on March 12. The committee defines tokenized equities as blockchain‑recorded assets that still fall under federal securities law, and it...
Washington State Bill Would Prohibit Companies From Microchipping Employees
Washington’s legislature passed Senate Bill 2303, which would bar employers from requiring employees to receive implanted microchips as a condition of employment. The bill includes narrow exemptions for voluntary medical implants, non‑invasive monitoring devices, and employees who choose to be...
The Pensions Brief: March 2026
Trustees must implement a data‑protection complaints process by 19 June 2026 under the Data (Use and Access) Act 2025, with ICO guidance covering design, default and subject‑access requests. The Pension Dashboards Programme issued FAQs clarifying reporting standards and PASA released Q&A on...
Understanding South Korea’s New AI Law: Key Considerations for Multinational Employers
South Korea's AI Basic Act became effective on January 22, 2026, imposing governance, transparency, and risk‑management duties on AI business operators, including employers that develop or deploy AI influencing workplace decisions. The law reaches beyond Korean borders, requiring entities that meet revenue,...
Illinois Appellate Court Narrows Third-Party BIPA Liability
The Illinois Appellate Court ruled that staffing agencies are not liable under BIPA Section 15(b) because they did not acquire or possess biometric data, only facilitated its collection. The court affirmed summary judgment for the agencies and denied discovery, emphasizing...
Mandatory Retirement Program for NY Employers Deadlines Begin in March 2026
Effective March 2026, New York’s Secure Choice Savings Program obligates private‑sector employers with ten or more New York employees and at least two years in business to either register for the state‑administered Roth IRA or certify an exemption. Registration requires using a unique...
Benefits Monthly Minute - February 2026
The Department of Labor settled with Kaiser Foundation Health Plan for $28.3 million plus a $2.8 million penalty, mandating reforms to its mental‑health provider network. The Fifth Circuit, in Parrott v. International Bancshares, applied the effective vindication doctrine to strike down arbitration...
Managing Legal Risk in the Age of Artificial Intelligence: What Key Stakeholders Need to Know Today
In 2026 enterprises are scaling AI from pilots to company‑wide deployments, prompting a surge in legal exposure across governance, compliance, privacy, contracting and IP. Boards face heightened fiduciary duties under the Caremark standard, yet only 36% have formal AI oversight...
