The EEOC recently issued its final regulations interpreting the Pregnant Workers Fairness Act (the “PWFA”), a law that became effective on June 27, 2023.  The final rule, which becomes effective June 18, 2024, provides clarity regarding: (1) who and what types of limitations and medical conditions are covered under the PWFA; and (2) what accommodations are reasonable.

Since Treasury Regulation Section 301.6109-1(h)(2)(i) took effect in 1997, the Internal Revenue Service (IRS) has permitted disregard entities, including single member limited liability companies to use the Employee Identification Number (EIN) of its owner (unless the disregarded entity has employees). Unfortunately, and without any regulatory authority, the Financial Crimes Enforcement Network (FinCEN) is not permitting disregarded entities to use their owner’s EIN for purposes of beneficial ownership reporting.

Lost in the hoopla over the FTC’s noncompete ban announced on the same day (April 23), the United States Department of Labor (“DOL”) unveiled its final rule significantly raising the minimum-salary threshold to qualify for overtime exemptions under the Fair Labor Standards Act (“FLSA”).

On April 22, the Federal Trade Commission (“FTC”) voted 3-2 to ban noncompete agreements, which prevent employees from working for competitors or launching a competing business after they leave a job.   The FTC’s new rule is slated to go into effect 120 days after it is published in the Federal Register. Whether the rule will ever actually take effect, however, is uncertain.

On Friday, April 12, 2024, LuLu Reisman, George Denegre, Carey Menasco, and Melanie Derefinko secured a significant appellate victory for Luv n’ care, Ltd. (“LNC”), an international manufacturer of baby products, against Eazy-PZ, LLC (“EZPZ”), a Colorado-based baby product manufacturer and former Shark Tank contestant, in a patent and trade dress infringement case. 

On March 22, 2024, the Treasury Department published a proposed regulation relating to certain transactions involving Charitable Remainder Annuity Trusts (“CRATs”) investing in single premium immediate annuities (“SPIAs”). The rule would designate transactions seeking to exclude from income SPIA payments from a CRAT under Section 72(b)(2) of the Internal Revenue Code (the “Code”).

On February 16, 2024, the Treasury Department published a proposed regulation relating to new reporting requirements for certain transfers of residential real estate consistent with its rulemaking authority under the Bank Secrecy Act. The rule would require the filing of a Real Estate Report with the Financial Crimes Enforcement Network (FinCEN) after the transfer of residential real estate.