SEC Codifies New Disclosure Requirements for Banking Registrants

SEC Codifies Disclosure Requirements for Banking Registrants
Oct14

Written by Taher Kameli & Chathan Vemuri For the past 30 years, the rules and requirements for banks and savings & loan registrants for making disclosures to investors have been a mess as they simply duplicated other rules and requirements of the Securities & Exchange Commission (SEC) and the U.S. Generally Accepted Accounting Principles (GAAP) or the International Financial Reporting Standards (IFRS).[1] This failed to take into account major changes in financial reporting since 1986 when the last substantive update to Industry Guide 3, Statistical Disclosure by Bank Holding Companies, the guide published by the SEC’s Division of

October 14, 2020
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Physical Violence Towards Special Needs Children

Special Needs Children and Physical Violence
Oct12

Written by Taher Kameli & Chathan Vemuri Educating children with special needs requires a heightened degree of specialized training, experience, individualized attention, patience and above all empathy beyond that required for children in general. Missteps and errors by those who do not know what they’re doing can potentially cause serious damage to both that child’s educational as well as their emotional well-being. As such, the relationship between adult supervisors/teachers/principals and children with special needs is an unequal one where the child is potentially vulnerable to errors or wrongful actions by the adult.   This is painfully apparent with the phenomena of physical abuse

October 12, 2020
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EB-5 To The Rescue

EB-5 TO THE RESCUE by Taher Kameli
Oct09

Written by Taher Kameli America needs help, here comes EB5? The “EB-5 Program” refers to employment-based immigration under section 203(b) of the Immigration and Nationality Act (codified as 8 U.S.C. § 1153(b)).  The EB-5 Program has been in existence since the 1980’s, and until recently, long-term stakeholders in the community thought that they had seen it all. But with the pandemic continuing to impact every sector of the U.S. and global economy, industry experts are now required to speculate as to how the EB-5 Program will be impacted.   Based on this introduction, one would expect the next couple paragraphs to

October 9, 2020
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How The Department of Labor’s New Definition of “Independent Contractors” Can Wrongfully Exclude Workers From Federal Labor Protections

Independent Contractor Might Recieve New Proposed Definition
Oct07

Written by Taher Kameli & Chathan Vemuri In what could be seen as a boon to employers, the U.S. Department of Labor issued a proposed regulation setting out a new definition of who was or was not an “independent contractor.”[1] This regulation, if approved and finalized, would make it easier for employers to classify much of their workforce as “independent contractors” and be excused from providing them labor protections under the Fair Labor Standards Act.[2] On the other hand, however, it may affect the security of workers as they could lose considerable protections and benefits

October 7, 2020
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Immigrant Surveillance – The DHS’ Proposal to Expand Biometric Collection to Limit Immigration

Limit Immigration DHS Propose to Expand Biometric Collection
Oct05

Written by Taher Kameli & Chathan Vemuri Mass surveillance and crackdown on immigration are not new phenomena in the United States and both have metastasized considerably over the last two decades in the wake of the war on terror and the broader debate over immigration to the US. Issues involving National Security Agency (NSA) spying of private telecommunications, use of older social media to place suspicion individuals and disproportionate targeting of certain minority groups have been hot button topics due in part to revelations by whistleblowers such as Edward Snowden, Julian Assange and Glenn Greenwald. Immigration in particular

October 5, 2020
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Illegal Profits From False Claims About COVID-19 Vaccines

False Claims on COVID-19 Vaccine Making Illegal Profits
Sep28

Written by Taher Kameli & Chathan Vemuri Due to the need for a vaccine in light of the devastating COVID-19 pandemic, biotechnology companies developing vaccine candidates have become the source of immense profit to stockholders investing in these companies.[1] Investors are betting on companies with promising candidates for successful vaccines, hoping to make millions, if not billions, off of the sale of these drugs. Already insiders from 11 small companies dependent on drug success or failure have sold over $1 billion in shares since March, in response to announcements of positive test results from heads of pharmaceutical

September 28, 2020
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Supreme Court Conditionally Recognizes the SEC’s Right to Disgorgement

SEC Right to Disgorgement Recognized by The Supreme Court
Sep25

Written by Taher Kameli & Chathan Vemuri The Securities and Exchange Commission (SEC) has long argued that as part of penalties sought from parties accused of unlawful activities in violation of securities laws, the SEC had a right to disgorge from the profits of the liable party as part of the remedies it could seek.[1] Disgorgement refers to a remedy by which parties who profited from illegal or wrongful conduct (“ill-gotten gains” so to speak) must return those profits that they made from that conduct to those they harmed in order to make them whole.[2]

September 25, 2020
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Your patient and/or lawyer won’t pay for your services, how did you get here?

Physicians having issues with medical debt payments
Sep24

Written by Taher Kameli & Eso Akunne Physicians having issues with medical debt payments often fall into two categories: (1) Patients who were injured in an accident lacking good health insurance who subsequently hire an attorney to file an insurance claim against the responsible party. OR (2) Chiropractors, doctors or physical therapists who provide treatment, on a lien basis, agreeing to wait for payment of their services when the case is settled.   How do you ensure payment? Physicians have often come to attorneys asking for payment for services rendered when a case settles or a judgment is made, to receive news that the attorney argues

September 24, 2020
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Challenge to Employer-Friendly Joint-Employer Final Rule

Challenge to Employer-Friendly Joint-Employer Final Rule
Sep22

Written by Taher Kameli & Chathan Vemuri The Department of Labor (“DOL”) under the Trump Administration granted what was seen as an administrative boon to employers when it issued its Final Rule on joint-employer status under the Fair Labor Standards Act (FLSA) in January of this year.[1] And yet since its passage, it has caused nothing but controversy as to the hurdles it causes for workers in terms of holding employers accountable for violation of their rights under existing labor laws.[2]   As part of the FLSA, employees can hold two or more employers jointly and severally

September 22, 2020
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Businesses Sue Insurers for Their Refusal to Pay Claims During COVID-19

Businesses Sue Insurers For Not Paying Claims During COVID
Sep14

Written by Taher Kameli & Julie Seong The long-term effects of the Coronavirus pandemic continue to reveal themselves in various ways. A United States Chamber of Commerce report shows that more than eight in ten small businesses have had to plan for changes made in response to the pandemic. The June report also shows that business owners’ negative sentiments toward the U.S. economy are slowly changing. However, the financial hit the majority of businesses took since March remains a reality. Although there have been multiple legislative proposals, bills, acts, and grants made available to both individuals and businesses in

September 14, 2020
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