Emboldened by New Resources and Expanded Authority, Feds Continue 10-Year Look Back at Chinese Investment
At a conference earlier this year on the Committee on Foreign Investment in the United States, or CFIUS, Assistant Treasury Secretary Thomas P. Feddo spoke with pride of the Committee’s increased funding, jurisdiction, expenditures, and more aggressive review activities.
Feddo began the speech by detailing how CFIUS has implemented the 2018 Foreign Investment Risk Review Modernization Act, or FIRMMA, which expanded its jurisdiction and increased its funding. The Committee has invested in new IT infrastructure and personnel, and since May of this year, the Treasury Department has been collecting filing fees for voluntary filers, a new policy which creates a funding mechanism to supplement its budget.
Feddo went on to discuss new rulemaking around foreign investment, including a proposed rule that would force any transaction to be filed with the Committee “if the foreign acquirer would need export control authorization to transfer the U.S. business’s products or technology to its home country.”1
Another topic was the Committee’s increased vigilance when it comes to monitoring and enforcement, noting an “unprecedented civil monetary penalty of $1,000,000 for repeated breaches of a 2016 CFIUS mitigation agreement, including failure to establish requisite security policies and failure to provide adequate reports to CFIUS.”
This fits with a recent trend in screening older cases that has been noted by journalist Jeanne Whalen of The Washington Post. In her Sept. 29, 2020, article, Whalen quoted Stephen Heifetz, a lawyer at Wilson Sonsini, as saying: “We’ve heard about matters going back almost 10 years. Historically, it was unusual for [CFIUS] to reach back more than three years. But there is in theory no time limitation, and we are increasingly hearing about long reach-back periods.”
CFIUS and national security figured prominently in President Trump’s order demanding that China’s ByteDance unwind its acquisition of TikTok. “While this executive order is one of a few seen under CFIUS, and only the fourth to unwind a completed transaction, it may be a harbinger,” we wrote in our Aug. 18, 2020 post. “Parties and counsel working on international deals must be acutely aware: this committee considers personal data a serious national security issue. It can and will block or unwind tech deals that give foreign access to Americans’ personal information.” See POTUS Uses CFIUS to Unwind TikTok Deal, Fears Chinese Government Will Get Americans’ Private Data by Dan Mogin and Jennifer M. Oliver.
As the headline of The Washington Post article said, “TikTok was just the beginning …”
But this isn’t the only corner of the federal government expanding its merger review program. Read more on the MoginRubin Blog.
Safeguarding Against Financial Exploitation
An on-demand CLE-eligible webinar Safeguarding Against Financial Exploitation America’s senior population is growing. Nearly one in five U.S. residents will be 65 or older in 2030. Which means the average age of U.S. investors is climbing too. With that comes the risk that they will be exploited by people with access – or gain access through nefarious methods – to their investment portfolio. Seniors and vulnerable persons lose billions of dollars each year. Remarkably, 90% of the people to take advantage of senior investors are members of their own family. Attorneys who represent senior clients need to know the signs of vulnerability, red flags that their clients are being exploited, what laws apply, and rules lawyers must follow in these matters. Questions our speakers answer: What is senior / vulnerable investor exploitation? Who is protected by state and federal laws? How prevalent is senior financial exploitation? What do the numbers tell us? What is the pace of financial abuse SAR filings by securities firms? What are the most popular scams? What is diminished capacity? What are the red flags indicating possible exploitation? What are the laws, rules, and regulations governing law firms? What are some best practices for law firms? How can firms best protect their senior clients? On Demand CLE Webinar What You Get PowerPoint and supplemental materials. Complete recording for later review. Answers to your questions via email. Invitation to contact speakers. 1.5 CLE credits (for licensed attorneys). CLE assistance.* *Subject to state bar rules. For licensed attorneys. Register Meet the Speakers Joseph Calabrese Bressler, Amery & Ross, P.C. A 1991 Graduate of St. John’s University Law School, Mr. Calabrese brings 30 years of practice and 18 years of Securities Litigation/Regulatory experience to his role as principal in the New York office of Bressler, Amery & Ross’s Financial Institutions Group. He began his career as a Wall Street litigator as an associate general counsel for Citigroup’s Smith Barney and [...]
PTSD in Mass Torts & Multi-Plaintiff Cases. What attorneys need to know.
PTSD in mass tort and multi-plaintiff cases. What attorneys need to know. Mass tort claims arise most frequently in man-made and natural disaster catastrophe litigation as well as personal injury, employment, product liability and toxic tort litigation. Frequently, these lawsuits include either primary or secondary allegations of emotional distress. PTSD is one of the most common emotional distress claims alleged within mass tort litigation, as well as allegations of depression and emotional stress (anxiety). Join an experienced psychiatrist and psychologist who will cover topics relevant to the forensic psychiatric assessment of emotional damages within mass tort and complex litigation. Agenda Introduction: Defining PTSD. What it is and what it is not. The methodological approach to assessing allegations of emotional distress in mass tort & complex litigation. The importance and the methodology of psychological testing as part of the assessment of emotional distress claims in mass tort litigation. Claimant population screening. Using psychological test instruments to differentiate claimants who require in-depth forensic psychiatric assessment from claimants who do not. Are all psych tests the same? Types of psychological test instruments we recommend and ones that we do not — and why. So-called “PTSD Tests.” Do they have a role in forensic psychological assessments? Accuracy and reliability of conclusions derived from psychological test data. Taking a “team approach” to emotional distress claim assessment in mass tort litigation. On Demand Registration Webinar On Demand 75 minutes of insights from experienced professionals. CLE credit: 1+ (subject to bar rules). CLE support by email. The complete Power Point presentation. Continued access to the complete recording for later use. Answers to speaker questions by email. On Demand Registration Meet the speakers. Mark I. Levy MD, DLFAPA Medical Director Forensic Psychiatric Associates Medical Corporation Associate Clinical Professor, Psychiatry University of California, San Francisco, School of Medicine 415.388.8040 mlevy@fpamed.com Dr. Levy attended Durham University, U.K. (1965-66) and is a graduate of Columbia College (A.B. 1967), the Columbia University College of Physicians and Surgeons (M.D. [...]
Epiq Class Action Settlement Efficiency
Epiq presents a CLE-eligible webinar Wait Wait ... Don't Settle! Essential elements of effective class action settlements. When it comes to complex class action litigation, once the hard work is done – litigation and settlement – more hard work begins – administering it. But is the deal really ready? After years of arduous proceedings, discovery, motions, appeals, hearings, negotiations, and more, the scope and structure of your settlement has been drafted. Everyone is in agreement. The hard work of the courts, the attorneys, the legal teams, and the litigants is complete. Now it's time to administer the settlement. Send out notices. Cut the checks. Get people paid. Boom! Sit back and relax. Get a claims administrator to take it from there. But wait … you find out that the terms of the agreement, the promises made, the budget established, and the deadlines calendared are not only inefficient, they are completely unworkable. Now the settlement is in jeopardy. The clients are frustrated. The court is frustrated. And you have a headache. That is a situation you, as a class action attorney, never want to find yourself in. The best way to avoid this quagmire is for attorneys to work with a professional and experienced claims administrator before you agree on settlement terms, someone who has been to this rodeo many, many times before. If you want smooth execution of your claims program, they must be on your team as you pull the pieces of the settlement together, not afterwards. Join us for a complimentary CLE webinar on Thursday, April 8, 2021, for a practical discussion based on Seven Elements of Effectively Settling Class Actions led by a class action litigator turned class action settlement expert, who will moderate a discussion with two highly regarded class action attorneys who have been involved in a number of high-profile complex cases. On Demand | Recorded April 2021 On Demand Registration Included with registration 1+ CLE credits (subject to bar rules). CLE codes are embedded in the video. [...]
Sexual Abuse Litigation and Insurance Coverage
Insurance Coverage for Sexual Abuse Claims Strategies | Response | Insurance Archeology CLE OnDemand Webinar Sexual abuse claims – such as those involving the Catholic Church and the Boy Scouts of America – have resulted in verdicts and settlements in the tens and hundreds of millions of dollars. The Catholic church alone has paid billions to resolve claims. Verdicts in cases involving adult victims are typically lower than those involving children and teens. A December 2021 $44 million verdict to a Texas woman who was raped at a Hilton Hotel in Houston could signal that juries may be more open to larger awards in such cases. While rapists and abusers face accountability under criminal law (and sometimes under civil law as well), businesses and institutions of all shapes and sizes are increasingly finding themselves confronting claims that they bear some of the responsibility for instances of sexual molestation, abuse and harassment. Several standard types of liability insurance provide coverage for such claims. In this webinar the panel discusses the elements of this coverage and the sensitive aspects of such claims. If you answer yes to any of these questions, this webinar is for you: Is your organization or your clients at risk of facing sexual abuse accusations? Would your organization or your client be insured if sued for sexual abuse? Is your organization or client uncertain as to where their insurance policies are? HB CLE on West LegalEdcenter Get CLE on emerging issues in litigation produced by HB and distributed via the West LegalEdcenter. Courses are available as part of your subscription to the platform. They are also available for individual purchase. Go to West LegalEdcenter Library CLE OnDemand Webinar: Property Insurance Coverage for Emerging Risk of Underground Climate Change w/Artese Podcast 1 of 2 series: Insurance Coverage with Dr. Jaana Pietari and Jim Fenstermacher and Litigation with Bob Chesler. Podcast 2 of 2 series: PFAS Insurance Coverage with Robert D. Chesler [...]
Lien Resolution: Government & Private Plans Get Aggressive (Against Attorneys)
Includes Nearly 75 minutes of insights from experienced professionals. CLE credit: 1+ (subject to bar rules). For CLE questions: CLE@LitigationConference.com The complete Power Point presentation. Continued access to the complete recording for later use. Answers to your questions via email to the presenters or write to HB and we will be sure to contact the speakers. What can you do to settle personal injury suits cleanly and avoid costly litigation and penalties? What recent cases can inform you about protecting your settlements and, as attorneys, yourselves, from post-settlement federal lawsuits? How can your firm set itself up to meet government expectations? What role might experts play in navigating these pitfalls? Medicare Advantage (42 USC § 1395w-22) Federal Medical Care Recovery Act (FMCRA) (42 USC § 2651) Armed Forces Act (10 USC §1095) Veterans’ Benefits (38 USC §1729) Third-Party Collection Rules (32 CFR 537.24; 38 CFR 17.101, etc.) Set-Asides under the Medicare Secondary Payer Act (42 USC § 1395y(b)(2)] On Demand Registration Lien Resolution Government & Private Plans Get Aggressive (Against Attorneys!) On Demand | Recorded September 2020 It is increasingly common these days. Personal injury attorneys settle a case, only to find themselves sued by a U.S. Attorney for failing to reimburse Medicare for conditional payments as required by the Medicare Secondary Payer Act. In some cases the attorney may be required to pay fines in addition to the reimbursements and interest, a costly proposition. Are you up to speed on issues surrounding Medicare Advantage, TRICARE, veterans’ claims, and Medicare set-asides? Join nationally recognized healthcare lien and resolution expert Franklin P. Solomon and go-to lien resolution provider Brett Newman as they offer a practical, in-depth CLE presentation. Franklin P. Solomon, Esq. Attorney & Founder, Solomon Law Firm A graduate of Rutgers University School of Law at Camden, Franklin Solomon is based in Cherry Hill, NJ, with a practice focused on evaluation, litigation and resolution of healthcare “liens” and reimbursement claims. Mr. Solomon represents personal injury victims and their attorneys [...]
Telepsychiatry: Mitigating the Risks
REGISTER Registration Includes Nearly 90 minutes of insights from experienced professionals. CLE credit: 1+ (subject to bar rules). For CLE questions: CLE@LitigationConference.com The complete Power Point presentation. Continued access to the complete recording for later use. Answers to your questions via email to the presenters or write to HB and we will be sure to contact the speakers. Understand the risks associated with telepsychiatry and how to manage them. Telemedicine has emerged as an important solution for healthcare in general and psychiatric medicine specifically during the current global pandemic. Remote access for sub-practices including addiction counseling have been commonly used. Our panel of psychiatric professionals who have served as expert witnesses and attorneys who counsel and represent physicians have prepared a 90-minute session to share insights with attorneys, physicians, healthcare providers, risk professionals, and more. Agenda Examining procedures and best practices that exist for ensuring confidentiality in a telemedicine practice How do you draft a telepsychiatric consent form? What is the emerging standard of care for telemedicine? Will the standard of care for telemedicine become a national standard? (Should it?) Review the case law addressing telemedicine or telepsychiatry How do the HIPAA regulations and HITECH privacy laws impact telemedicine? How have the HIPAA regulations and HITECH privacy laws been relaxed during the pandemic? Will the relaxed HIPAA and HITECH regulations impacting telemedicine continue past the pandemic? Which technical platforms are preferred? Which ones to avoid? Panelists Mark Levy, M.D., Medical Director at fpamed David Kan, M.D., UCSF Psychiatry Department and the California Society for Substance Abuse Medicine Ayesha Ashai, M.D., associated with fpamed Stephen M. Fatum, J.D., Partner, Barnes & Thornburg LLP Angela W. Russell, J.D., Partner, Wilson Elser Moskowitz Edelman & Dicker LLP Meet our physician and attorney panelists. Mark Levy MD Medical Director fpamed Dr. Levy is a graduate of Columbia College (A.B. 1967) and the Columbia University College of Physicians and Surgeons (M.D. 1971) in New York. He is a Physician [...]