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In his final ruling, Judge Mazzant clarified that he was not questioning the DOL's authority to adopt a salary level test as part of the overtime exemptions. Rather, Judge Mazzant explained that the Obama-era DOL had gone too far in adopting a salary level so high as to become the "de-facto" test for meeting the overtime exemptions.
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Judge Mazzant issued a final ruling striking down the overtime rule. The Texas Federal Judge used essentially the same reasoning on which he based his temporary injunction ruling. In light of this final decision, the appeal of his temporary injunction likely becomes moot.
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It's important to keep informed of the trends in the realm of asset forfeiture, especially now that the current federal administration has announced its intention seek more asset forfeitures going forward. Here's why.
Features
<b><I>Potential Ramifications of SEC Disgorgement Being a Penalty</b></i><p><b><i>Part Two of a Two-Part Article</I></b><p>The <I>Kokesh</I> decision raises potential consequences that move beyond the realm of SEC enforcement. They are discussed in depth in this article.
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<b><I>What Can We Tell So Far?</I></b><p>How can companies plan for enforcement under the Trump administration? Here are five areas of compliance to consider.
Features
Comprising the largest rewrite of U.S. food safety regulations in more than 70 years, the Food Safety Modernization Act (FSMA), which was signed into law on Jan. 4, 2011, has broad implications for almost all constituents involved in the food and feed industry. But FSMA's effect on equipment lessors and other secured lenders requires some consideration and analysis.
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New Jersey Gov. Chris Christie signed a bill on August 24 that will regulate daily fantasy sports betting, a multimillion-dollar-a-year industry in the state that has, until recently, gone largely unregulated nationwide.
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Financial services firms and their management should keep a close eye on developing cybersecurity regulations, so as to be better prepared to proactively address the shifting regulatory landscape as it continues to evolve.
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The Supreme Court as a whole appears aligned and motivated to review critically federal and state asset forfeiture procedures. In addition, Attorney General Sessions last month restored the federal forfeiture of property seized by state and local law enforcement ("federal adoptions"), but with certain additional safeguards.
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<b><I>Potential Ramifications of SEC Disgorgement Being a Penalty</b></i><p> <b><i>Part One of a Two-Part Article</I></b><p>In reference to <I>Kokesh</I>, most commentators have focused on the five-year limitations period, which certainly carries important ramifications for the SEC. But as we describe here, the Supreme Court's ruling that "SEC disgorgement constitutes a penalty" has more far-reaching ramifications.
