The FTC proposed amendments to the Hart-Scott-Rodino rules that affect financial investors, and requested comment on aspects of the mergers and acquisitions framework in anticipation of other possible rule changes.
The DOJ filed charges against the owner of two companies in Florida that provide Medicare services for submitting false and fraudulent claims in order to receive (i) reimbursement from Medicare and (ii) loans from the Paycheck Protection Program.
In separate publications, the Congressional Research Service provided information and analysis on COVID-19-related legal challenges, impacts on the U.S. economy, and China's actions since the outbreak.
The House Financial Services Committee considered legislation to (i) prohibit retail businesses from refusing cash payments and (ii) encourage an increase in mobile banking and electronic payment technologies.
The IRS issued final regulations removing "minimum documentation requirements that ordinarily must be satisfied in order for certain related-party interests in a corporation to be treated as indebtedness for Federal tax purposes."
Cadwalader attorneys reviewed recently proposed IRS regulations confirming that transitions from LIBOR and other interbank offered rates to alternative reference rates in debt instruments and derivatives will not be taxable events.
The IRS proposal amending certain regulations to address the transition from interbank offered rates to other reference rates for debt instruments and non-debt contracts was published in the Federal Register.
An investment fund challenged an IRS determination that various contracts entered into between the fund and an investment bank resulted in the fund having effective ownership of the positions that were the subject of the contracts.
U.S. Treasury Deputy Secretary Justin Muzinich highlighted developments in housing finance reform, Committee on Foreign Investment in the United States reform, digital taxation, and cryptocurrency policy.
Cadwalader attorneys analyzed a recent Illinois Circuit Court decision denying a petition filed by a political activist and a hedge fund claiming that $16 billion of Illinois's general obligation bonds violated the state constitution.