SEC’s Use of Disgorgement Remedy Limited by Five-Year Limitations Period
By Ryan C. Young & Matthew T. Boos
On June 5, 2017, the Supreme Court placed a significant limitation on the SEC's use of disgorgement in enforcement actions.
Legal Updates
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North Dakota Makes Major Changes to Angel Fund System
By Wayne W. Carlson, Michael S. Raum & Elizabeth L. Alvine
The North Dakota legislature substantially modified the program, reenacting it as the “Angel Investor” tax credit program during the 2017 legislative session.
Emerging Trend: States Adopting Cybersecurity Regulations for Financial Services Industry
New cybersecurity regulations impacting broker-dealers and investment advisers in Colorado went into effect over the weekend.
Minneapolis Passes $15 an Hour Minimum Wage Ordinance
By Anne M. Radolinski & Ashley R. Thronson
On June 30, 2017, the Minneapolis City Council passed an ordinance raising minimum wage rates in Minneapolis over a seven-year period, ultimately to a minimum wage rate of $15 an hour by July 2024 for all covered employers.
The SCOTUS Travel Ban Ruling and What We Know So Far
On June 26, 2017, the Supreme Court of the United States allowed parts of the Trump Administration’s travel ban to go into effect.
Fourth and Ninth Circuits Uphold Rejection of Trump Travel Ban
The U.S. Court of Appeals for the Fourth and Ninth Circuits have upheld a nationwide preliminary injunction rejecting a substantial portion of the Trump administration’s revised executive order barring entry into the United States of people from certain countries.
Recent Fraud Investigations Led to Convictions, USCIS Announced
USCIS assisted in several recent investigations leading to convictions in immigration fraud cases.
Spending Bill Extends EB-5 Investor Visa Program to September 30, No Funding for Wall
The Consolidated Appropriations Act of 2017, passed by Congress and signed May 7, extends the EB-5 immigrant investor visa program through September 30, 2017.
USCIS Completes Date Entry of FY 2018 H-1B Cap-Subject Petitions
U.S. Citizenship and Immigration Services (USCIS) announced on May 3, 2017, that it had completed data entry of all fiscal year 2018 H-1B cap-subject petitions selected in a computer-generated random process.
State Department Announces Continued High Demand for Visa Numbers in Several Employment-Based Categories
The Department of State’s Visa Bulletin for the month of June 2017 notes that continued high demand is resulting in cut-off dates being established in several categories.