Treasury and IRS Release March 2026 Proposed Regulations Under Internal Revenue Code Sections 148 and 150
The Treasury and IRS issued proposed regulations updating arbitrage rules under IRC §148 and definitional provisions under §150. The changes extend the deadline for rebate overpayment refunds, tighten source‑fund allocation requirements, and add special 90‑day SLGS certificates to the definition of tax‑exempt bonds. They also modernize the filing address for notices and elections. Industry groups, notably the National Association of Bond Lawyers, are expected to contest the stricter allocation rule.
New Jersey Supreme Court Holds Federal Title IX Regulations Preempt Conflicting Grievance Procedures Under Collective Bargaining Agreement
On January 29, 2026 the New Jersey Supreme Court held that the 2020 federal Title IX regulations preempt a collective bargaining agreement’s grievance arbitration that excluded the alleged victim. The court found the university’s CNA arbitration conflicted with Section 106.45(b), which requires...
Delaware Court of Chancery Sustains Breach of Fiduciary Duty Claims Based on Terms of LLC Agreement
On Jan. 29, 2026 the Delaware Court of Chancery denied Victory Park Capital Advisors’ motion to dismiss, sustaining Calumet Capital Partners’ breach‑of‑fiduciary‑duty, aiding‑and‑abetting, servicing‑agreement and implied‑covenant claims. The court held that the LLC’s protective provision could not blanket‑away fiduciary duties because Delaware law...
One Big Beautiful Bill’s Impact on TPS Work Permits
President Donald Trump signed H.R. 1, the “One Big Beautiful Bill Act,” on July 4, 2025, overhauling numerous federal programs including immigration rules. The law curtails the Department of Homeland Security’s authority over Employment Authorization Documents for Temporary Protected Status, limiting initial and...
Capital + Counterfactual = Income
The Upper Tribunal overturned a First‑tier Tribunal ruling in the Boston Consulting Group UK LLP case, applying the UK mixed‑member partnership rules (MMRs) to the firm’s long‑term incentive scheme. The tribunal found that payments for "Capital Interests" were taxable as...
Spring 2026 Shipping and Energy Newsletter
The Spring 2026 Shipping and Energy Newsletter surveys a wave of UK court rulings that reshape risk allocation in shipbuilding, charter parties and offshore contracts, including the innominate classification of refund‑guarantee obligations, stricter scrutiny of force‑majeure notices, and market‑rate damages for...
U.S. Supreme Court Examines How to Value “Just Compensation” In Tax Foreclosures
On February 25, 2026, the U.S. Supreme Court heard oral arguments in Pung v. Isabella County, Michigan, probing how "just compensation" should be measured in tax foreclosures. The case follows the 2023 Tyler decision, which barred governments from keeping surplus...
YA Global’s Reply Brief Tees Up Appellate Court Decision
YA Global Investments filed a reply brief in the Third Circuit, contesting a Tax Court ruling that it conducted a U.S. trade or business through its agent Yorkville Advisors. The brief argues that fees labeled as structuring and monitoring were...
Beyond Borders: Labor Law Strategies for Cross-Border Deals
Mayer Brown employment partners Marine Hamon and Pauline Stadler dissect labor‑law challenges in cross‑border transactions between Germany and France. They detail works‑council consultation mandates, statutory timelines, employee‑transfer rules, and confidentiality duties that can shape carve‑outs and asset deals. The lawyers...
5 Key Takeaways | Big Easy Brawl: A ‘Friendly’ Debate on Hot Issues in State Income Taxation
The ABA‑IPT seminar highlighted how state income‑tax rules are increasingly activity‑based, meaning even modest business actions can create nexus and trigger liability. Courts are focusing on where the economic benefit occurs, not where a company is headquartered, reshaping sourcing rules...
General Conditions: How They Are Evaluated in a Builder’s Risk Claim
The article clarifies how general‑conditions costs are evaluated in builder’s risk claims, separating truly incremental expenses from fixed or duplicated overhead. It presents three typical claim scenarios—repair‑period costs, delay‑only costs, and combined repair‑and‑delay costs—and explains why only incremental or extended...
Swiss Federal Supreme Court Grants Jordan Chiles Request for Review of CAS Award
The Swiss Federal Supreme Court granted American gymnast Jordan Chiles a review of the Court of Arbitration for Sport award that stripped her 2024 Olympic bronze medal. The court applied Swiss arbitration law and invoked Article 190(a) of the Swiss Private...
EBA Consults On Draft Guidelines And RTS On Initial Margin Model Authorization
The European Banking Authority (EBA) has opened consultations on draft guidelines and regulatory technical standards (RTS) for authorising internal initial‑margin models under EMIR 3. The proposals target counterparties whose monthly average non‑centrally cleared OTC derivatives exceed €750 billion (about $818 billion USD), requiring...
2025 FLSA Litigation Metrics & Trends
Seyfarth Shaw’s Wage and Hour Litigation team released its 2025 FLSA litigation metrics, highlighting a 12% rise in federal wage‑and‑hour cases and a 9% increase in settlements compared with 2024. The report notes a surge in remote‑work overtime disputes and...
Force Majeure and LNG Contracts
Recent attacks on Gulf LNG facilities, including Qatar's Ras Laffan plant, have driven JKM prices above $25 per MMBtu and tightened supply for Asia, which absorbs 86% of Hormuz‑transiting cargoes. In Europe, TTF prices have surged past $64 per MWh,...
Time Is Running Out to File Real Property Tax Complaints in Ohio for Tax Year 2025
The March 31, 2026 deadline closes the window for filing real‑property tax complaints in Ohio for tax year 2025. Nine counties must reappraise their 2025 assessments, while eleven are required to update values. These assessments, dated January 1, 2025, determine the property‑tax bills paid throughout...
Federal Offshore Critical Minerals Leasing Gains Momentum Near CNMI
On March 18, 2026 the Bureau of Ocean Energy Management issued an Area Identification Recommendation covering more than 69 million acres offshore the Commonwealth of the Northern Mariana Islands, effectively doubling the original 35.5‑million‑acre request for information. The recommendation advances Executive...
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...
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...