Welcome to the newest issue of our newsletter devoted to legal updates that affect clients throughout Latin America with operations or investments in the United States. In this issue we bring you thought leadership from around the practices as well as a practical sit-down with our M&A and Disputes experts to discuss real-life scenarios that you and your clients can benefit from.
Cross-Border Practice
In our latest video series, Bryan Hall and Alex Malyshev sit down with guest Mundo Elias to discuss the latest cross-border trends between Mexico and the United States. Mundo will be joining our Firm in January 2025 to practice in our New York office!
Trusts & Estates and Tax-Exempt Organizations
International Charitable Giving: A Primer
In an article published in the latest issue of Taxation of Exempts, a Thomson Reuters-published journal focused on the tax-exempt organizations industry, Karen T. Schiele and Kaitlyn T. Wollman from Carter Ledyard’s Trusts and Estates Department, discuss and explain applicable rules and potential pitfalls for U.S. individuals and tax-exempt organizations seeking to benefit charitable causes abroad. The article, “International Charitable Giving: A Primer,” reviews income, gift, and estate tax considerations along with legal and compliance concerns in connection with international charitable activities.
Securities Practice
Reminder: Form SD (Resource Extraction) is Now Due
The Securities and Exchange Commission has enacted a final rule requiring public issuers involved in oil, natural gas, or mineral extraction to report specific payments made to foreign governments or the U.S. federal government. Both domestic and foreign private issuers engaged in resource extraction must comply with this rule.
Artificial Intelligence
We have previously written on New York City’s law requiring audits for employers and employment agencies (together, “Employers”) who use automated employment decision-making tools (“AEDTs”) to assist in making employment decisions. A recent ruling by a California court in Derek Mobley v. Workday, Inc. (Case No. 23-cv-00770-RFL) holds that Employers may face liability under federal law for their use of AEDTs. If other courts follow suit, this development could impact Employers across the country.
Cannabis, Hemp, & CBD
Update on the DEA’s Efforts to Reschedule Cannabis: What You Need to Know
In their latest for Thomson Reuters and Westlaw Today, Alexander Malyshev and Sarah Ganley update readers on the current status of the rescheduling process and the next steps.
Trade Secrets & Restrictive Covenants
Federal Court in Texas Strikes Down FTC Rule Barring Non-Competes
A federal court in Texas struck down the FTC’s newly adopted rule banning virtually all non-compete clauses with workers. The rule had been slated to become effective on September 4, 2024. Our summary of the FTC’s non-compete rule can be found here.
Contact
Bryan Hall, Partner and Chair of M&A Practice
hall@clm.com
Alex Malyshev, Partner
malyshev@clm.com
Jenn Topper, Business Development
topper@clm.com