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Energy and Climate DebateEnergy concerns played a prominent role in national debates last week, with the appropriations committees in both congressional chambers approving wildly different versions of funding bills for fiscal year 2013 energy and water development and leadership in both houses appointing conferees to a surface transportation conference committee that is certain to spend a significant amount of time debating the Keystone XL pipeline, among other energy issues.The Senate Appropriations Subcommittee on Energy and Water Development approved a $33.4 billion energy and water spending bill for fiscal year 2013 April 24. The draft legislation, which was approved without objection, would allocate $27.1 billion for the Department of Energy, about $800 million less than the House version of the bill.  The measure includes nearly $2 billion for the agency’s Office of Energy Efficiency and Renewable Energy, a $160 million increase from current levels. Of that, $95 … [Read more...] about Energy and Environment Law Update- April 29, 2012

As our clients and friends know, each year Mintz Levin provides an analysis of the regulatory developments that impact public companies as they prepare for their fiscal year-end filings with the Securities and Exchange Commission (SEC) and their annual shareholder meetings. This memorandum discusses key considerations to keep in mind as you embark upon the year-end reporting process in 2013.1Year 3 of Say-on-Pay: Smaller Reporting Companies Must Now Comply.2013 marks the third year of “say-on-pay” for companies other than smaller reporting companies,2 as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) and related SEC rulemaking. The non-binding shareholder vote on say-on-pay asks shareholders to approve companies’ executive compensation arrangements as disclosed in the proxy statement pursuant to Item 402 of Regulation S-K. A separate vote, referred to as the “say-on-frequency” vote, requires … [Read more...] about Preparation for 2012 Fiscal Year-End Securities and Exchange Commission (SEC) Filings and 2013 Annual Shareholder Meetings

Leading the Past WeekMembers rushed out of town at the end of last week for a two-week district-work period, but not before approving a $982 billion continuing resolution (CR), ensuring that the government will stay open through the end of the fiscal year (September 30th ). The CR, which included some modifications designed to help certain federal agencies deal with the sequester, passed the Senate by a vote of 73 to 26 on Wednesday and then was quickly approved by the House by a 318 to 109 vote. Both sides were also able to pass competing visions of their respective budgets before leaving town. The House Republicans passed its budget on near party-line vote after a little more than 4 hours of debate, while the Senate also approved its budget on a near party-line but only after dispensing with a “vote-a-rama” that lasted until about 5am on Saturday. Despite the drama in the Senate, it is a welcome relief to see Congress … [Read more...] about Financial Services Legislative and Regulatory Update – March 25, 2013

IntroductionDuring the Supreme Court’s 2012 Term, it decided two Title VII cases with enormous implications on employer liability. In the first case, Vance v. Ball State University, the Court held that an employee is a “supervisor” for vicarious liability purposes only if the employer authorized the individual to take tangible employment actions against the victim.[i] In the second case, University of Texas Southwestern Medical Center v. Nassar, the Court held that an employer is only liable for retaliation against an employee if discrimination was the but-for cause of the employee’s termination.[ii] Both cases, decided along partisan lines with Justice Anthony Kennedy providing the deciding vote each time, narrow the scope of protection afforded to employees.Part I of this article lays the foundation of Title VII’s legisprudence and jurisprudence. Part II discusses the Court’s recent Vance and Nassar decisions. Part III then analyzes the impact the … [Read more...] about Vance and Nassar: A Small Business Employer’s Guide To The Court’s Recent Title VII Rulings

Leading the Past WeekWorking through a rare weekend session, the Congress appeared no closer to being able to avoid a shutdown of the Federal Government.  Early Sunday morning the House sent back to the Senate its version of the spending bill, including two provisions – one delaying Obamacare for one year and the other repeals the medical device tax which helps fund the law.   While there are other differences in the bills – notably how long they keep the government operating, Leader Reid has made it clear that the Senate will strip out these two provisions when it meets at 2pm on Monday.  With the midnight Monday deadline quickly approaching, all sides appear resigned to a shutdown occurring and have turned their attention to positioning for the fallout. While the political ramifications of a shutdown are unclear – with both sides believing that they will benefit, the practical results were announced late last week as … [Read more...] about Financial Services Legislative and Regulatory Law Update – September 30, 2013