Blog
FTC Proposes to Ban Non-Competes
On January 5, 2023, the Federal Trade Commission (the “FTC”) proposed a rule that would effectively ban non-compete clauses between employers and “workers,” to include a broad range of workers such as executives, independent contractors, interns, externs, volunteers, apprentices, and sole proprietors who provide services to a client or customer. Even some unusually broad non-disclosure... Read more »
FinCEN Issues Final Beneficial Ownership Rule
On September 22, 2022, the Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of the Treasury issued a final rule (the “Rule”) under the Anti-Money Laundering Act and the Corporate Transparency Act. The Rule requires certain entities to report beneficial ownership. “Reporting Companies” are (i) domestic entities created by filing with a state secretary... Read more »
SEC Fails to Resolve Confusion Over Securities and Crypto Assets
On July 21, 2022, the Securities and Exchange Commission (the “SEC”) filed a complaint against a former employee of Coinbase, a trading platform for digital assets, and two of his friends, alleging insider trading of securities. The complaint therefore identifies certain digital investment contracts as securities, a position the SEC has taken for some time.... Read more »
Delaware Legislature Expected to Approve Amendments to Corporate Law
In April 2022, proposed amendments to the General Corporation Law of the State of Delaware (the “DGCL”) adopted by the Delaware bar, were introduced to the Delaware legislature and are expected to pass. The proposed amendments include, for example, allowing a corporation to adopt exculpatory provisions for breach of fiduciary duties of not only directors... Read more »