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Today, President Joe Biden signed into law the Inflation Reduction Act of 2022 (the “Act”). Although the proposal further restricting the availability of long-term capital gain treatment with respect to carried interests ultimately was dropped from the final version of the bill.
On August 3, 2022, eleven suspended PGA Tour members filed a complaint [1] in the United States District Court for the Northern District of California (the “Court”) against PGA Tour, Inc. (the “Tour”), alleging violation of federal and California state antitrust laws.
The Inflation Reduction Act of 2022 (IRA), has several primary goals, including: promoting clean energy, manufacturing, and construction through a wide array of tax incentives and grants; and raising revenue through the primary mechanisms of a new corporate alternative minimum tax.
Headlines that Matter for Companies and Executives in Regulated Industries
Consent decrees play a major role in environmental litigation. This week, Maine People’s Alliance v. Holtrachem Manufacturing Company, one of the nation’s longest-running cases under the RCRA citizen suit provisions, has essentially ended with a Maine district court's entry of a consent decree.
The Commodity Futures Trading Commission, under a reconstituted Commission, is signaling a new era of aggressive enforcement of the Commodity Exchange Act. 
The ongoing worldwide semiconductor shortage will cause more than 100,000 vehicles to be cut from North American production schedules this week, Automotive News reported Sunday. Over 180,000 vehicles are expected to be dropped globally.
Clean car drivers who love to keep their car garaged or covered need not apply.
As use of cryptocurrency investment has increased throughout the world, regulators have faced a bevy of novel questions, especially related to applying different strains of law to regulate novel digital assets.
- The efforts to legalize cannabis have gained traction in some states and run into serious roadblocks in others.
- Nineteen states allow adults to possess and use cannabis for non-medical uses (adult use).  
- Thirty-seven states allow for medical cannabis use through state run programs.
Most of California’s Industrial Welfare Commission (IWC) wage orders mandate that employees “shall be provided with suitable seats when the nature of the work reasonably permits the use of seats.
In a newly filed lawsuit against the State of Idaho, the federal government argues that Idaho’s “near-total ban on abortion,” scheduled to take effect on August 25, 2022, overreaches by prohibiting abortion even where federal law may require physicians to perform an emergency abortion.
Five new state omnibus privacy laws have been passed and will go into effect in 2023. 
Organizations should review their privacy practices and prepare for compliance with these new privacy laws.
Headlines that Matter for Companies and Executives in Regulated Industries
Regulators at all levels – federal, state, and local – seek to address climate concerns. On July 27, Washington, DC, joined localities banning natural-gas hookups when Mayor Muriel Bowser signed an ordinance limiting use of fossil fuels like natural gas in newly constructed buildings.
The use of cryptocurrencies for online purchases has been steadily gaining popularity. However, using crypto to pay for goods in stores has been slow due to the lack of infrastructure that can support crypto transactions.
A series of new developments combine to make the broad topic of Environmental, Social, and Governance (ESG) investing, disclosure, and regulation more relevant to the not-for-profit healthcare sector (Sector).
The Metaverse offers broad opportunities for trade associations to expand their reach and enhance member experiences like never before. These new and exciting possibilities, however, come with unique challenges. This alert gives a brief overview of the Metaverse and highlights a few key benefits.
The Centers for Medicare & Medicaid Services (CMS) issued its annual proposed rule related to the Hospital Outpatient Prospective Payment and Ambulatory Surgical Center Payment Systems for 2023 (the HOPPS Proposed Rule) on July 26, 2022.
On July 26, 2022, Massachusetts joined seventeen other states which prohibit race discrimination based on natural hairstyles when Governor Charlie Baker signed the Creating a Respectful and Open World for Natural Hair (“Crown”) Act, which bans discrimination based on hairstyles at work and school.
On July 12, 2022, the Council of the District of Columbia voted to amend the District of Columbia’s Ban on Non-Compete Agreements Amendment Act of 2020 (the “Act”). Implementation of the Act has been delayed on several occasions and is currently set to occur on October 1, 2022. 
On July 20, 2022, the HHS Office of Inspector General (OIG) issued a Special Fraud Alert cautioning physicians and other health care practitioners to use “heightened scrutiny” when entering into telemedicine arrangements that have “suspect characteristics” of a fraud scheme.
The Metaverse is widely regarded as the next frontier in digital commerce, with organizations spending millions of dollars securing a presence by buying digital real estate and investing in platforms to be market leaders.
The US Securities and Exchange Commission (SEC) has adopted a new standard called Regulation Best Interest (Reg BI)[1] that shifts the focus on protecting customers first and foremost. Although the regulation possibly puts certain customers first, it leaves some important areas vulnerable. 
US Senate Democrats Chuck Schumer and Joe Manchin reached a compromise on the fiscal year 2022 budget reconciliation that includes $369 billion in new spending to spur clean energy and technology over the next decade. The bump in spending would be off-set by corporate tax changes.