Client Alert

PH Quarterly - Q2 2011

July 01, 2011

By Paul Hastings Professional

CHINA MATTERS:

• China Matters: China Establishes its Security Review Mechanisms for Inbound M&A Transactions

• China Matters: Preparing for Changes to the Social Insurance Scheme and Shanghai Issues Regulations on Employee Representative Congresses, a Driver to Unionize in the PRC

• China Matters: China Reverse Mergers Under Increasing Scrutiny from U.S. Regulators and Plaintiffs' Lawyers

• China Matters: One Country, One Immunity: Hong Kong Court of Final Appeal Holds Foreign States Have Absolute Sovereign Immunity

• China Matters: China's Anti-Monopoly Law Enforcement Authorities Issue Long-Awaited Regulations for Implementing the Anti-Monopoly Law

COMPLEX LITIGATION AND TRIAL PRACTICE:

• Bifurcated Discovery in Class Actions: An Effective Strategy to Prevent the Continuation of the Unmeritorious Lawsuit

EMPLOYMENT LAW:

• What UK Employers Need to Know: UK Employment Law Changes in April 2011

• Some Cafeteria Plans Must Be Amended by June 30

• Health Care Act W-2 Requirements: To Report or Not To Report-That is the Question

• United States Supreme Court Expands Retaliation Risks for Employers

• New Challenges Faced as Support of Veterans' Employment Rights Ramps Up

• DOL Grants Certain Group Health Plans Relief By Extending Non-Enforcement Period for Internal Claims and Appeals Requirements

• Time to Get Ready - The Temporary Agency Worker Regulations

• States May Not Prohibit Class Action Waivers as Part of Pre-Dispute Arbitration Agreements

• Dealing with Stock Options and Free Shares when Launching a Tender Offer on a French Company

ERISA AND GLOBAL BENEFITS:

• Checklist for Evaluating the Need for a New or Amended Stock Award Plan

FINANCE:

• The Saga of a Secured Lender's Right to Credit Bid Continues - Seventh Circuit Rejects Third Circuit Approach and Upholds Secured Lender's Right to Credit Bid in Sale Pursuant to a Bankruptcy Plan

GLOBAL BANKING AND PAYMENT SYSTEMS:

• Regulators Propose "Skin in the Game" Rule

• FRB Proposes Rules for Remittance Transfers

• Unclear Whether Latest Preemption Developments Create Clear Path or Muddy Waters for Federally Chartered Banks

• Uncertainty Regarding Fed Proposal and CFPB Action on Minimum Underwriting Standards for Consideration of a Consumer's Ability to Repay

• CFPB Maps Out "Larger Participant" Nonbank Supervision Program

• Fed Consolidated Regulation Poses New Challenges for Savings and Loan Holding Companies

• Payroll Card Regulations: Too Much of a Good Thing

GLOBAL COMPLIANCE AND DISPUTES:

• Extraterritorial Effect of the Anti-Corruption Law of the People's Republic of China

• Quarterly FCPA Report: First Quarter 2011

• Recent Challenges to Definition of "Foreign Official" Reinforce Government's Broad Interpretation

• Johnson & Johnson Reaches Settlement of Charges with US and UK Enforcement Agencies

• Quarterly FCPA Report: Second Quarter 2011 - Courtroom Activity Defines the Second Quarter of 2011

HEALTHCARE:

• HHS and CMS Issue Proposed Rule on Accountable Care Organizations

INTELLECTUAL PROPERTY:

• Supreme Court Affirms Clear and Convincing Evidence Standard of Proof for Patent Invalidity

• Federal Circuit Significantly Tightens Doctrine of Inequitable Conduct Today in It's En Banc Therasense Ruling

• U.S. House Passes Comprehensive Patent Bill

• Failure to Launch

• Supreme Court Is Not Done Hearing Patent Cases

INTERNATIONAL ARBITRATION:

• Commercial Aftershocks of the Great Eastern Japan Earthquake: Force Majeure and Related Issues

• International Dispute Resolution Update: May 2011

• Recent Developments: Chevron-Ecuador Dispute

• U.S. Supreme Court Further Limits Class Arbitration

• Sovereign Immunity: A Venerable Concept in Transition?

INVESTMENT MANAGEMENT:

• SEC Adopts Final Dodd-Frank Adviser Registration Rules and Extends Deadline for Compliance

• FINRA Proposes Revisions To Its Mutual Fund Cash Compensation Disclosure Rules

• Hedge Fund Report Summary of Key Developments - Spring 2011

• SEC To Adjust "Qualified Client" Dollar Thresholds For Investment Adviser Performance Fee Rule, Implementing Requirements Imposed By Dodd-Frank

MERGERS AND ACQUISITIONS:

• Delaware Chancery Court Rules that a Reverse Triangular Merger May Constitute an "Assignment by Operation of Law"

• Delaware Court Applies Revlon To "Hybrid" Merger And Provides Guidance

SECURITIES FINANCE AND CAPITAL MARKETS:

• SEC Proposes Rules Modifying the Net Worth Standard for 'Accredited Investors'

• UK Securities Law Update Q1, 2011

• UK Securities Law Update - Q2, 2011 Market Update: The Recent Prominence of Cash Shells

SECURITIES LITIGATION AND ENFORCEMENT:

• In Narrowly Tailored Opinion, Supreme Court Finds "Loss Causation" Not Required at Class Certification Stage

• An Investment Adviser Cannot Be Sued in Private Action Under Rule10B-5 for Inaccurate Statements in a Mutual Fund Prospectus

• SEC Enacts Even More Rigorous Whistleblower Program After Public Comment

TAX:

• The IRS Creates a 70% Safe-Harbor for Deductibility of Investment Banking and Other Success-Based Fees Contingent on the Closing of a Transaction

• Modifications to Treatment of Aircraft and Vessel Leasing Income

• Recent "FBAR" Guidance Extends the June 30, 2011 Filing Deadline for Certain US Persons

WHITE COLLAR CRIME AND REGULATORY ENFORCEMENT:

• The U.S. Government's Recent Efforts to Ban Pharmaceutical Executives from the Industry Without Due Process

• California Announces Creation of a Mortgage Fraud Task Force to Pursue Mortgage Fraud at "All Levels"

• The U.S. DOJ Forms Oil and Gas Price Fraud Working Group to Focus on Energy Markets