Mondaq

Mondaq Ltd. is a global content aggregator focused on the legal sector, based in New York. Established in 1994, it offers free access to expert insights on various subjects, including finance, regulations, employment, tax, litigation, healthcare, government, and real estate through its online publications.

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UK LLPs Salaried Member Rules: HMRC Issues Revised Guidance On Condition C

1 day ago | mondaq.com | Dan Roman |Nick Fagge

HMRC has revised its guidance on the application of the targetedanti-avoidance rule (TAAR) to Condition C of the salaried memberrules. The new guidance states that HMRC accepts that a"genuine contribution made by [an] individual to the LLP,intended to be enduring and giving rise to real risk" will nottrigger the TAAR.
Real Property Taxation Of Solar And Wind Energy Systems In New York State Update: Court Declares RPTL § 575-b Unconstitutional In Airey V. State

1 day ago | mondaq.com | Michael Guerriero

In a Decision and Order rendered March 4, 2025, Albany CountySupreme Court struck down as unconstitutional Section 575-b of theReal Property Tax Law, in the matter of Airey, et al. v. Stateof New York, et al. (Index No. 903991-2024).
White House Unveils Updated AI Guidelines For Federal Agencies

2 days ago | mondaq.com | Marc Martin |Marc Martín

The White House's Office of Management and Budget (OMB) hasissued two new memorandums, which establish new federal policiesfor the use and acquisition of artificial intelligence (AI) by thefederal government. M-25-21 requires federal agencies to foster AI innovation,advance AI governance, and promote responsible AI use. M-25-22 updates guidance for federal procurement of AIsystems.
Vermont Enacts A "Climate Superfund Act" - Uh-Oh!

2 days ago | mondaq.com | Seth Jaffe

Last week, Vermont became the first state to enact a "Climate Superfund" law. As I noted in January, I fear that this willnot end well. It seems odd to model a statute on a law frequentlygiven the accolade – deserved, in my view – of the worst statute ever written. Moreover, theVermont Climate Superfund Act does not seem to reflect any effortto address any of the flaws in the original Superfund law.
Crypto Brief

3 days ago | mondaq.com | Ryne Miller |Ethan Silver

Lowenstein Cryptoadvises leading digital asset and cryptocurrency projects,exchanges, and trading firms. Our practice covers regulatoryadvice, transactions and structuring advice, investigations, andadversarial matters including commercial disputes, bankruptcy, andrelated litigation.
Government Approves Climate Action Plan 2025

3 days ago | mondaq.com | Matthew Smith |Colm Booth |Maire O'Neill

Intended for publication in December 2024, formal approval ofCAP25 was delayed due to the election. As such, its substantivedrafting preceded the current coalition. Ireland's overall emissions reduced by 7% in 2023, with theelectricity sector driving this downward trajectory, a 17%reduction in emissions in the first half of 2024 demonstrating theeffectiveness of renewable generation and interconnectivity.
TCPA Update: The FCC Delays Portions Of Revocation Of Consent Rules By One Year

3 days ago | mondaq.com | Martha Kohlstrand |Annalisa Kolb |Kristen Kennedy

On April 7, 2025, the Federal Communications Commission("FCC") announced that it would delay portions of asignificant new rule pertaining to the revocation of consumerconsent under the Telephone Consumer Protection Act("TCPA") until April 11, 2026.1 The rule wasoriginally set to take effect on April 11, 2025.
Treasury Department "Vigorously" Monitors Fiscal Recovery Funds

1 week ago | mondaq.com | Kenneth Parsons |Nicole Elliott |Kayla Gebeck Carroll |Isabella Warren

The U.S. Department of the Treasury on March 25, 2025, publisheda notice titled "Compliance Reviews and Related RecoupmentEfforts," informing all Coronavirus State and Local FiscalRecovery Funds (SLFRF) recipients that the Treasury Departmentintends to vigorously monitor recipients' methods of obligatingfunds by the Dec. 31, 2024, deadline, as well as recapture anyfunds obligated in violation of SLFRF rules and guidance andunobligated funds.
WilmerHale's Guide To The European Union's AI Act

1 week ago | mondaq.com | Martin Braun |Anne Vallery |Itsiq Benizri

The European Union's Artificial IntelligenceAct (AI Act) is considered to be the world's firstcomprehensive horizontal legal framework for AI. It provides forEUwide rules on data quality, transparency, human oversight, andaccountability.
Pension Risk Transfer Litigation Targets Multiply And Courts Finally Weigh In

1 week ago | mondaq.com | Amy Gordon |Anne Becker |Justin A. Linder |Grant E. Shillington

2024 was another high-volume year for pension risk transfer(PRT) transactions. But as defined benefit pension plans havecontinued to shift pension risk to annuity providers, planparticipants have been filing lawsuits claiming the PRTs are riskyand/or the fiduciaries choosing the annuity provider have breachedtheir fiduciary duty. A number of these lawsuits involved PRTtransactions to Athene Annuity and Life Co. (Athene), which is aprivate equity backed insurance company.