Publication - 02/28/2012

Congress Gives the Green Light to Incentive Auctions

Telecommunications Alert

On February 17, both the House and the Senate passed the Middle Class Tax Relief and Job Creation Act of 2012. Among other things, the Act provides for the extension of the payroll tax holiday and unemployment benefits and prevents cuts in Medicare physician payment rates. To help offset the cost of the Act, the legislation includes significant spectrum provisions centered around preparations and details of a future auction of spectrum currently held by broadcast television licensees to other users, likely including commercial wireless carriers. This process is ultimately expected to raise billions of dollars for the Treasury, while also helping to fund the creation of a nationwide public safety broadband network for emergency first responders, another subject of the Act.

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Trans-Pacific Partnership Agreement Finalized

Client Alert
Nicolas Guzman

On Monday, October 5, an agreement on the Trans-Pacific Partnership (TPP) was reached between the Unites States and 11 other Pacific Rim nations. This historic partnership would potentially link 40 percent of the world’s economy, covering the map from Canada to Chile and Japan to Australia.

Securities and Governance Update

October 2015 Update
Daniel E. Brewer, William L. Carr, Ryan T. Costa, Elizabeth A. Diffley, Robert T. Esposito, Mary P. Hansen, Chanda A. Miller

In this installment of the Drinker Biddle Securities and Governance update, we address the SEC’s proposed new clawback rule 10D-1; the implementation of the Pay Ratio Rule; and provide an update on the SEC’s interpretive guidance for whistleblower retaliation protections.

CJEU Declares Safe Harbor Framework Invalid

Drinker Biddle Client Alert
Peter A. Blenkinsop, Mary Devlin Capizzi, Stanley W. Crosley

In a decision with significant potential ramifications for flows of personal data from the European Union to the United States, the Court of Justice of the European Union (CJEU) today ruled in Maximillian Schrems v. Data Protection Commissioner (C-362/14) that the Safe Harbor Framework no longer provides adequate protection for data transferred to the United States. The decision is likely to leave the over 4000 companies that are currently self-certified to the Safe Harbor Framework scrambling t...

Debtor Sues Lenders for Alleged Violations of the Fair Credit Reporting Act

Creditors Digest
Stephen C. Baker, Christian Brito , Alan M. Kidd, Stephen A. Serfass, Nolan B. Tully

On September 18, 2015, Margaret M. Okamoto (“Plaintiff”) filed a complaint (the “Complaint”) in The United States District Court for the District of Nevada alleging violations of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq. (the “FCRA”), against, inter alia, Bank of America, N.A. (“BOA”), Mutual of Omaha Bank (“MOB”), and Experian Information Solutions, Inc. (collectively, “Defendants”). See Okamoto v. Bank of America et al., No. 2:15-cv-01800-GMN-GWF (Sept. 18, 2015).

Bankruptcy Plans Go Up in Smoke: Marijuana Grower Denied Relief

The Legal Intelligencer
Joseph N. Argentina, Jr., Andrew C. Kassner

Andy Kassner and Joe Argentina discuss whether Colorado’s legal, licensed marijuana producers can avail themselves of federal bankruptcy law protection.