Eric Reicin

In this edition of the biweekly series, "What Every Multinational Company Should Know About,” my Foley colleague discusses five compliance best practices for tailoring compliance policies to local countries. Click below to learn more. #Compliance #BestPractices

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Supporters of PACE Reforms Urge Adoption of Final Rule A coalition of consumer organizations—including the National Consumer Law Center (on behalf of its low-income clients) and the Center for Responsible Lending—and attorneys have sent a letter to Rohit Chopra, Director of the Consumer Financial Protection Bureau, urging adoption of a final rule concerning Property Assessed Clean Energy (PACE) loans. PACE loans provide consumer protections for homeowners seeking clean energy financing. PACE lending. PACE loans are secured through a property tax lien on the borrower’s home and are used to finance clean energy improvements, such as solar panels or projects to prepare homes for natural disasters. A 2023 CFPB report found that homeowners with PACE loans had an increase in negative credit outcomes, primarily mortgage delinquency. Moreover, many PACE borrowers live in underserved communities. This story can be read in its entirety on the Wolters Kluwer Vital Law site at https://lnkd.in/gCR5d7Mh. As reported George Gullo. #PACELoans #CFPB #CleanEnergyFinancing #CenterForResponsibleLending #UnderservedCommunities

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Check out the latest opinion piece from former FCC Commissioners Mignon Clyburn and Michael O'Rielly on the importance of the Affordable Connectivity Program, and the economic case of why Congress should extend it so that low-income families don't lose their broadband connectivity. #FundACP https://lnkd.in/eQZ77aEb

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This year marks the 50th anniversary of the landmark Congressional Budget and Impoundment Control Act. We recently reflected on the act's significant impacts and challenges with former members of Congress; Congressional Budget Office directors Dan Crippen, Douglas Elmendorf, Keith Hall, Douglas Holtz-Eakin, Robert Reischauer, and Phillip Swagel; and Office of Management and Budget Director Shalanda Young to discuss the future directions of the budget. #Bipartisan #BudgetReform #FiscalPolicy

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The Vermont Data Privacy Act is no more. Governor Scott vetoed the bill last week, and after calling a special legislative session, the Vermont Senate failed to override the veto by just a single vote. What does the VDPA’s defeat mean for the future of consumer privacy laws? What should businesses take away from all of this? Learn more in my latest blog. https://lnkd.in/gkxwntiK

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Unlocking Transparency: Navigating the Maze of Not-for-Profit Accountability Navigating transparency challenges, not-for-profits uphold integrity through meticulous IRS 990 form completion, conflict policies, whistleblower protection, and governance documentation. https://lnkd.in/e2hMu6iB #FinancialBusinessGuides #ethicalgovernance #IRS990 #nonprofittransparency

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Maryland has set a new standard with the Maryland Online Data Privacy Act (MODPA), effective October 1, 2025. This Perkins Coie LLP blog post highlights noteworthy provisions that distinguish MODPA from other state privacy laws. #Privacy #PrivacyLaw #DataPrivacy #MODPA

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🌟 Important Legal Victory for Whistleblowers! 🌟 In a significant ruling, the Federal Circuit has affirmed that future lost earnings are recoverable for employees who face retaliation for whistleblowing. This decision marks a crucial step forward in protecting the rights of whistleblowers and ensuring fair compensation for those who speak out against wrongdoing. At Shaw Bransford & Roth, P.C., we stand by ethical practices and support transparency. This ruling reinforces the importance of upholding integrity and accountability in all sectors. This case law update was written by Emily Shandruk, an Associate Attorney at the law firm of Shaw Bransford & Roth, where she joined in January 2024. Ms. Shandruk contributes her extensive experience in state and federal litigation to the firm, showcasing her prowess in authoring dispositive motions and coordinating discovery in complex federal litigation. Stay informed and learn more about this impactful decision: https://lnkd.in/e2NCSGid #WhistleblowerProtection #LegalRights #FairCompensation #EthicalLeadership

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for your use

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This excellent article by William Marra of Certum Group shows that the push in the US towards greater permissibility of the use of third-party funding is well underway. The advances made in DC, Arizona and Utah are well documented and New York is now joining the charge. The New York City Bar Association’s Professional Responsibility Committee has recommended that New York amend Rule 5.4 to explicitly clarify that lawyers may assign their interest in fees to a nonlawyer, so long as the lawyer gives the client notice and opportunity to inquire before any such assignment. Funders, law firms and claimants alike need certainty that third-party funding of single cases and law firm portfolios will not be subject to challenges- and this development helps advisory firms such as 4 Rivers Services to get deals done throughout the US, using our know-how and bespoke templates and models. #litigation #arbitration #thirdpartyfunding #litigationfinance #litigationfunding #portfoliofunding https://lnkd.in/gMiuFQCy

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A message from AARO board member and VP of Advocacy, Fred Einbinder, in response to the recent Supreme Court decision on Moore v. United States: “On June 20th, 2024, the United States Supreme Court handed down its decision in the Moore case holding that the taxation of “realized” and undistributed income from an “American controlled” foreign corporation to its Americans shareholders pursuant to the Mandatory Repatriation Tax enacted as part of the 2017 Tax Cuts and Jobs Act was constitutional. The Moores, US citizens had invested in a closely held Indian company. The share value of this company had increased over time, but the Moores did not receive any distribution in the form of dividends or share sales and therefore contended that since they had not “realized” any income the taxation of their share value gains was unconstitutional under the Sixteenth Amendment which instituted the federal income tax. The Moore case generated an enormous amount of interest as, amongst others, a broad holding by the Court had the potential for significantly affecting government tax revenues and influencing the highly political debate over the creation of wealth taxes in the US. The Court therefore in its decision took pains to emphasize that its decision was a narrow one not intended to close the constitutional debate on these issues. AARO’s strong interest in this case as exemplified by its submission of an amicus curiae brief, principally drafted by its Tax Chair, Laura Snyder, was also narrow focusing on the Repatriation Tax which together with the GILTI tax has impacted AARO members and other Americans residing abroad who manage or invest in small business. The Moore decision in permitting the imposition of taxation under the Repatriation Tax was therefore not favorable to our interests and legal interest initiative. AARO will therefore in consequence continue its advocacy efforts aimed at reducing the taxation and administrative burdens imposed by the Repatriation and GILTI taxes while closely following legal developments in this field subsequent to Moore. A detailed analysis of the Moore decision combined with an update on case law developments since the US Supreme Court case in Bittner (FBAR penalties) will appear in upcoming editions of New and Views as part of the continuing series of articles on Supreme Court cases of particular interest to AARO members written by Fred Einbinder, AARO VP Advocacy. #AARO #americanemigrants #overseasamericans #americansabroad #AmericanExpats #taxes #FATCA #GILTI #FBAR #MoorevUS

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ADVISORY: Federal district court ruled that the Justice Department’s Office of Legal Counsel (OLC) must adhere to FOIA proactive disclosure requirements for all formal legal opinions resolving disputes between executive agencies. The ruling in late April, centered on the “reading-room” provision of the Freedom of Information Act (FOIA), mandates proactive disclosure of certain records by the OLC to the public. Specifically, the court held that OLC opinions on interagency disputes qualify as “final opinions” subject to FOIA proactive disclosure. While the ruling only impacts the DOJ-OLC opinions, it is critical to note that rulings along these lines demonstrate that FOIA law is far from settled and new opinions impacting proactive disclosures should be anticipated. Agencies should work to build a culture of proactive disclosure to help reduce FOIA requests and build transparency. https://hubs.li/Q02wdqmV0

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VT comprehensive privacy bill down for the count? Hear more from Kyle G. Kessler (she/her), Christine Xiao and William Carter #privacylaw

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A barely coherent summary and set of recommendations addressing a completely incoherent situation: the application of the proposed regulations for donor-advised funds to fiscal sponsorships? What should fiscal sponsors, especially those who position themselves as donor-facing, do to not be totally thrown off by the broad scope of the DAF regulations? https://lnkd.in/gicY9eAa

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Sharing the recording to the Webinar hosted by the FTC on the Non-Compete Rule. I found it informative and provided a high-level overview of the background behind the rule, when it is effective, and the Rule itself: https://lnkd.in/gnk2-eFm

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The USPTO issued guidance on the use of AI-based tools. MBHB Partner Manav Das shares 10 key takeaways. Read more here.

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Best known as The FCPA Professor, Mike Koehler argues that that many people have it all wrong when it comes to enforcement of the Foreign Corrupt Practices Act (FCPA). Citing historical data he argues that there is not, contrary to popular opinion, a slow down in enforcement of the FCPA. The pace of roughly 12-13 resolutions per year has continued. In fact, the three resolutions in the first quarter of 2024, he notes, puts it on track to continue the trend. How do compliance teams get management attention to FCPA enforcement? He recommends against just focusing on the likely price of the settlement. Instead, outline all the costs. Those start with the multiple years before the resolution when the costs of legal, accounting and other fees may be as much as twice the resolution. Then, point to the eighteen months or so after the settlement when the organization will be under ongoing scrutiny, likely at a substantial cost. All of this, of course, is in addition to the diminished productivity and potential business losses. Listen in to learn more about how he sees anticorruption enforcement shaping out both by US and international prosecutors. https://lnkd.in/dyJkpWZ6

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