November 2009 Client Alerts

November 30, 2009

Authored by: Robert Klingler

The FTC Postpones the Deadline for Red Flags Rule Compliance Again to June 1, 2010

In a last minute announcement, the Federal Trade Commission has indicated that it will delay the compliance date for the “Red Flags Rule” yet again. Affected businesses now have until June 1, 2010 to develop and implement a plan as required under the Red Flags Rule.

For more information, please read the client alert published by Bryan Cave LLP’s Consumer Protection Client Service Group on November 2, 2009.

EEOC Releases New Workplace Poster

The Equal Employment Opportunity Commission announced last week that it has revised and released for posting the notice that employers covered by federal anti-discrimination laws must display in the workplace.

For more information, please read the client alert published by Bryan Cave LLP’s Labor and Employment Client Service Group on November 2, 2009.

House Unveils Health Reform Bill

The U.S. House of Representatives has unveiled its health reform legislation. Among its provisions include an excise tax on medical devices that is expected to cost the industry $20 billion over the next ten years. The bill also requires device manufacturers to submit the product information to a national registry.

For more information, please read the client alert published by Bryan Cave LLP’s Food and Drug Administration Practice on November 3, 2009.

Recalled Beef Possibly Linked to Two Deaths

The Wall Street Journal and Reuters report that ground beef that had been recalled by Fairbank Farms of Ashville, New York has been linked to 28 cases of E. coli, including two that resulted in death. Last week, South Shore meats also recalled beef patties due to possible E. coli contamination after 20 school children were suffering from E. coli.

For more information, please read the client alert published by Bryan Cave LLP’s Food and Drug Administration Practice on November 3, 2009.

Notice of Pay Rate and Payday for New Hires: New Mandatory Form of Written Notice

The New York Department of Labor has issued a new required form for providing notice to new employees under the recent amendments to the New York Labor Law Section 195.

As was covered in a prior alert, dated September 15, 2009, the New York Labor Law Section 195 was amended, effective on October 26, 2009, to require that employers notify all new employees in writing, before they do any work, of their rate of pay and of the regular pay day. For employees who are eligible for overtime pay, the notice also must include the overtime rate of pay. The text of the amendment requires that employers obtain a written acknowledgement from each employee that they have received notice and retain the acknowledgment for a period of six (6) years.

For more information, please read the client alert published by Bryan Cave LLP’s Labor and Employment Client Service Group on November 4, 2009.

Congress Considers Extensive Changes to U.S. Tax Reporting of International Structures

Legislation entitled the “Foreign Account Tax Compliance Act of 2009” was introduced in both Houses of Congress last week by the Chairmen of the House Ways and Means Committee and the Senate Finance Committee and was publicly endorsed by President Obama and his Treasury Secretary.

For more information, please read the client alert published by Bryan Cave LLP’s Private Client Client Service Group on November 4, 2009.

FMLA Military Leave Provisions Extended

On October 28, 2009, President Obama signed into law amendments to the Family and Medical Leave Act (“FMLA”). The amendments expand the military leave provisions of the FMLA, affecting both qualifying exigency leave and military caregiver leave. The changes do not pertain to the length of available leave, but rather expand the categories of individuals who may be entitled to leave.

For more information, please read the client alert published by Bryan Cave LLP’s Labor and Employment Client Service Group on November 9, 2009.

House Health Care Legislation Calls for $20B Tax on Medical Device Industry

The House’s version of the health care reform bill cut to $20 billion on the planned $40 billion tax on the device industry that appears in the Senate Finance Committee’s version of the bill. The tax would be assessed as a 2.5% excise tax keyed to the device’s wholesale price.

For more information, please read the client alert published by Bryan Cave LLP’s Food and Drug Administration Practice on November 10, 2009.

FDA Issues 2009 FDA Food Code

On November 9, 2009, the U.S. Food and Drug Administration announced the publication of its 2009 Food Code.

For more information, please read the client alert published by Bryan Cave LLP’s Food and Drug Administration Practice on November 10, 2009.

Executive Employment Agreements and Bonus Plans May Need to be Amended to Comply with Revenue Ruling 2008-13

Section 162(m) of the Internal Revenue Code generally precludes a publicly held corporation from deducting compensation paid to covered employees to the extent it exceeds $1 million, unless the payment constitutes qualified performance-based compensation. Performance-based compensation must be paid solely on account of the attainment of a predetermined, objective performance goal that is approved by a compensation committee.

For more information, please read the client alert published by Bryan Cave LLP’s Employee Benefits and Executive Compensation Client Service Group on November 12, 2009.

Louisiana Lawmakers Fight Back on Oyster Ban

Senators Mary Landrieu and David Vitter and other Louisiana Congressmen are threatening the U.S. Food and Drug Administration with budget cuts unless the agency backs off its plan to ban Gulf Coast oysters that harvested during warmer months unless they are treated to kill bacteria.

For more information, please read the client alert published by Bryan Cave LLP’s Food and Drug Administration Practice on November 13, 2009.

Senate Leadership Hoping for Health Bill Next Week

Senate Majority Leader Harry Reid has stated that he expects to bring major health care leigslation to the Senate floor by mid-November and to complete work on the bill before Christmas.

For more information, please read the client alert published by Bryan Cave LLP’s Food and Drug Administration Practice on November 13, 2009.

Qualified Retirement Plans: End of Year Compliance Items

The Pension Protection Act of 2006 made several changes to the laws governing qualified retirement plans and documentary and operational changes to such plans by the end fo the 2009 plan year.

For more information, please read the client alert published by Bryan Cave LLP’s Employee Benefits and Executive Compensation Client Service Group on November 23, 2009.

New FTC Advertising Guide Warns Celebrities and Professionals to Disclose That They Are Paid Endorsers When Commenting on Products

The Federal Trade Commission has issued a new Guide Concerning the Use of Endorsements and Testimonials in Advertising which will go into effect on December 1, 2009. Among other things, the new guide specifically warns celebrities to disclose any connection that they have to a company when publicly speaking, or writing, about that company’s products.

For more information, please read the client alert published by Bryan Cave LLP’s Consumer Protection Client Service Group on November 23, 2009.