Updates & Events

It is not always clear whether materials such as clay, gravel and sand are subject to mineral reservations – or whether those materials belong to surface owners.

On September 30, 2020, two years after making headlines by enacting Senate Bill 826, legislation requiring public companies based in the state to include at least one woman on their boards by the end of 2019, California enacted Assembly Bill 979, a similar bill requiring public companies based in the state to include at least one director from an underrepresented community by the end of 2021.

While California’s legislative mandates have garnered the most attention, several other state legislatures have enacted or are considering board diversity legislation. In addition, a recent proposal by influential proxy advisory firm Institutional Shareholder Services Inc. has the potential to effectively mandate racial and ethnic diversity on all public company boards, regardless of applicable state law.

On September 23, 2020, the SEC adopted amendments to the rules governing its whistleblower award program.

On September 23, 2020, the SEC adopted amendments to Exchange Act Rule 14a-8, the rule that governs the process for shareholder proposals to be included in a company’s proxy statement.

On October 7, 2020, the SEC proposed a conditional exemption from the broker registration requirements of Section 15(a) of the Exchange Act for “finders” who assist issuers with raising capital in private markets from accredited investors.

On October 8, 2020, the Department of Labor began implementing a new prevailing wage system with higher wage thresholds for H-1B, E-3 and PERM applications.

On October 1, 2020, a U.S. district judge ruled in NAM v. DHS against aspects of President Trump’s June 22, 2020, Proclamation that blocked visa issuance to many foreign workers.

The MSBA recognized eight Fredrikson & Byron attorneys as Pro Bono All Stars for providing seven or more years of consecutive pro bono local service.

A U.S. district court in Immigrant Legal Resource Center et al. v. Wolf, et al., temporarily enjoined DHS from implementing or enforcing USCIS’ August 3, 2020, fee schedule rule and changes to certain other immigration benefit request requirements.