You Should Know This: Trending Business Law Updates – Fri Jan 28

For you reference, here’s a short list of well-read, trending legal updates on JD Supra today – commentary, analysis, and news on a handful of timely business matters.

Business Law You Should Know»

1099 Repeal Appears Certain (by Partridge Snow & Hahn):

“Several bills, including a bipartisan effort from Senators Baucus and Reid, have been introduced this session to repeal the 1099 provisions of the Health Care Reform Act.

As discussed in prior e-Alerts, the 1099 provisions would greatly expand the way in which businesses report ordinary expenditures. Under the new law, businesses would have to obtain an EIN and file a 1099 for purchases that run to more than $600 per year, regardless of who the vendor is…” Read entire update»

H-1B Cap to Be Reached Imminently (by Mintz Levin):

 “On January 21, 2011, U. S. Citizenship and Immigration Services (USCIS) announced that 62,800 H-1B petitions out of the regular quota of 65,000 have been received since April 1, 2010. USCIS also announced that the special quota of 20,000 for foreign nationals with U.S. master’s degrees has been exhausted. This 62,800 number already exceeds 58,200, the quota for regular H-1Bs after subtracting the 6,800 H-1B1 numbers which are reserved solely for citizens of Chile and Singapore pursuant to free trade agreements…” Read entire update»

Employment Law Commentary: Encouraging Internal Reporting of Potential Fraud Through Cultures of Compliance (by Morrison & Foerster):

“In 2010, Congress enacted landmark federal legislation aimed at reforming the health care and financial sectors. Both the Patient Protection and Affordable Care Act of 2010 and the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) provide expansive protection to whistleblowers in the health care and financial services industries. Each of these statutes contains whistleblower provisions aimed at providing remedies for persons who suffer adverse employment action because they blow the whistle on alleged abuses within those sectors…” Read entire update»

Privacy Implications of Employment Background Checks: U.S. Supreme Court Rules for Employers (by Mintz Levin):

“Employers in the public and private sector should take note of the path taken by the U.S. Supreme Court in its decision on January 19th, addressing a privacy challenge to a background check by government contractor employees. The case, NASA v. Nelson (NASA), overturned a Ninth Circuit Court of Appeals ruling holding that certain questions in a background check were an unconstitutional violation of the “right to informational privacy.” The Supreme Court determined that the disputed questions used in the background check were reasonable in light of the government’s interests in managing its internal operations.

Of interest to private employers is the Court’s favorable acknowledgment that private employers frequently and legitimately use background checks. This case should remind all employers to take note of the requirements associated with such pre-employment inquiries and update their background check process for compliance with the current state of the law…” Read entire update»

Small Business Securities Bulletin: SEC Adopts Say-on-Pay and Related Rules; Two-Year Temporary Exemption for Smaller Reporting Companies Included (by Ober | Kaler):

“On January 25, 2011 the Securities and Exchange Commission (SEC) adopted final rules to implement the sayon-pay and say-on-golden parachute provisions of Section 951 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The final rules, which are generally consistent with the rules the SEC proposed in October, require SEC reporting companies to provide their stockholders, at least once every three years, with a non-binding vote “to approve the compensation of its named executive officers, as disclosed pursuant to” the SEC’s compensation disclosure requirements, also known as say-on-pay…” Read entire update»

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