On August 30, 2023, the US Department of Labor published a new proposed rule to raise the annual salary level threshold for exempt workers to $55,068 per year. This new rule could become law in 2024.
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On September 29, 2022, the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the U.S. Treasury, released final rules (the “Final Rules”) implementing Section 6403 of the Corporate Transparency Act (“CTA”). The CTA was enacted to combat money laundering, terrorist financing, corruption, tax fraud, and other illicit activity.
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The rule, proposed in March 2022, includes requirements about current disclosure of material cybersecurity incidents, and periodic disclosures about a registrant’s processes to assess, identify, and manage material cybersecurity risks.
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Texas recently passed legislation creating a Business Court system to hear certain disputes between or among businesses and their owners or controlling persons and management regarding breach of contract, breach of fiduciary duty, corporate governance, and the like.
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Given the expected increase in scrutiny of issuer buybacks, we recommend that companies consider taking some or all of the actions noted in this Alert before the fourth quarter of this year.
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This Alert addresses what this means for energy infrastructure in and around “wetlands.”
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When does an oil and gas lease expire due to cessation of production?
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This Alert highlights protective measures energy companies should consider.
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