Publications
| Type | Title | Practice Area | Date  |
|---|---|---|---|
| Publications | An Examination of the SEC's Efforts to Charge Peripheral Players With Securities Fraud | Securities Litigation | 05/09/08 |
| Author: Matthew Smith, John McDermott | |||
| Abstract: View PDF. | |||
| Law Alerts | Colorado District Court Reaches Taxpayer-Favorable Result in Recent Tax Shelter Case | Tax - Federal Income, State and Local | 05/06/08 |
| Author: David Strong | |||
| Abstract: In Sala v. United States (decided April 22, 2008), Judge Lewis Babcock of the U.S. District Court for the District of Colorado upheld an individual taxpayer's claimed loss of over $60 million in connection with a series of complex transactions involving foreign currency option contracts. The case represents a notable defeat for the Internal Revenue Service ("IRS") in its current "Son of BOSS" litigation efforts being pursued nationwide. The case also creates a potentially favorable precedent within the Colorado District Court for future "Son of BOSS" (bond option sales strategy) cases and for other types of tax disputes relating to tax-advantaged transactions and investment strategies. Readers of this alert should feel free to contact one of the HRO tax partners listed in the margin to discuss the Sala case and its potential implications for tax litigation matters. View PDF. | |||
| Law Alerts | Foreign Bank Account Reports are Due June 30, 2008 - Severe IRS Penalties Will Apply for Failing to File an FBAR | Tax - Federal Income, State and Local | 05/05/08 |
| Author: G. Michelle Ferreira | |||
| Abstract: The IRS has announced that it is actively pursuing taxpayers who fail to report their foreign bank accounts to the Service. A Foreign Bank Account Report (FBAR) must be filed annually by each person having an interest in, or a signature authority over, any financial account in a foreign country, if the aggregate value of these accounts exceeds $10,000 at any time during the calendar year. Congress has now increased the penalties for the non-willful failure to file the FBAR to a $10,000 minimum. For a willful violation of the FBAR reporting requirements, the penalty is now a fine equal to the greater of $100,000 or 50% of the amount of the transaction or of the balance of the account at the time of the offence. The attached HRO Alert discusses the rules which now apply to US taxpayers who are required to file annual FBARs to the IRS by June 30, 2008. The attached Alert was authored by G. Michelle Ferreira, a partner in HRO's tax department. View PDF. | |||
| Law Alerts | Greenhouse Gas Regulations Mandated by Governor's Executive Orders | Environmental and Toxic Torts | 04/25/08 |
| Author: Matthew Lepore | |||
| Abstract: Governor Ritter issued three climate change Executive Orders on April 22, 2008 that initiate regulatory actions and create an agricultural carbon offset program designed to reduce greenhouse gas emissions in the State. Regulations requiring major sources of greenhouse gases to report their emissions and a proposal to reduce tailpipe GHG emissions from cars and light duty trucks are to be developed under the Orders, which constitute the first steps toward implementing the Governor's Climate Action Plan announced last November. View PDF. | |||
| Law Alerts | First Quarter 2008 Antitrust Bulletin | Antitrust and Competition | 04/15/08 |
| Author: Cory Talbot, Elizabeth Harris, Jay Gurmankin | |||
| Abstract: In the attached Antitrust Quarterly Bulletin from HRO's Antitrust & Competition Group, you will read about significant antitrust developments from the first quarter in 2008 and the importance of these developments to your business. HRO represents companies in antitrust and competition counseling, regulatory proceedings, and litigation. Please contact one of the attorneys listed in the Bulletin, or any of the 25 attorneys in HRO's Antitrust & Competition Group if you have any questions.
Issues discussed in this Bulletin:
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| Law Alerts | DOL Proposes Safe Harbor for Deposit of Small Plan Contributions and a Clarification for All Plans | Compensation and Benefits | 04/14/08 |
| Author: Carolyn Daniels | |||
| Abstract: The Department of Labor issued regulations that provide that employee contributions become plan assets and must be deposited in a trust as of the earliest date on which the contributions can reasonably be segregated from the employer�s general assets. Contributions become plan assets as soon as they can be reasonably segregated from the employer's other assets, but no later than the 15th business day of the month following the month in which they are received by the employer or withheld from the employee�s paycheck (in the case of pension plans such as 401(k) and 403(b) plans) or 90 days from the date they are received by the employer or withheld from the employee�s paycheck (in the case of welfare plans). The Department has previously stated that the deadlines are not safe harbors, which left plan sponsors with some uncertainty. The proposed regulations provide a safe harbor for small pension and welfare plans (plans with fewer than 100 participants): 7 business days after the contributions are received or withheld from the employee's paycheck. View PDF. | |||
| Publications | Nanotechnology and Human Health: We Don't Know Nano | Environmental and Toxic Torts | 04/07/08 |
| Author: Matthew Lepore | |||
| Abstract: Matt Lepore's article is featured in the Spring 2008 Toxic Torts and Environmental Law Committee Newsletter. View PDF. | |||
| Newsletters | Employment Law Newsletter - March/April 2008 | Employment and Labor | 03/31/08 |
Abstract: Articles included in this issue:
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| Law Alerts | Does Your Wellness Program Comply With the HIPAA Nondiscrimination Regulations? | Compensation and Benefits | 03/24/08 |
| Author: Kevin Burch | |||
Abstract: On February 14, 2008, the Department of Labor ("DOL") issued Field Assitance Bulletin No. 2008-02 covering:
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| Law Alerts | SEC Sets Deadline for Firms to Comment on Significant Proposed Changes to Regulation S-P Governing Privacy of Customer Information | Complex Commercial Litigation | 03/14/08 |
| Author: Sven Collins | |||
| Abstract: On March 4, 2008, the SEC announced significant proposed changes to Regulation S-P (see Release No. 34-57427 available at http://sec.gov/rules/proposed/2008/34-57427.pdf). The proposed changes, aimed at enhancing the security of customers’ nonpublic personal information, create significant added administrative and financial burdens for securities firms. The proposed changes also allow registered representatives and advisors to retain certain limited customer information when moving firms. This last proposal comes on the heels of the SEC’s enforcement action last summer against NEXT Financial Group, Inc., alleging violations of Regulation S-P relating to customer information allegedly disclosed in connection with broker transfers. The SEC is taking comments on its proposed changes through May 12, 2008. View PDF. | |||