Willkie Farr & Gallagher LLP’s Post

On April 23, 2024, the U.S. Department of Labor adopted the Retirement Security Rule defining when a person who renders investment advice is an investment advice fiduciary for purposes of the Employee Retirement Income Security Act of 1974, as amended, and parallel provisions of the Internal Revenue Code of 1986, as amended. Full background here: https://lnkd.in/emFf-6yG

Despite significant controversy and deliberation, Congress was able to secure bi-partisan approval for H.R. 815, which was signed by President Biden on April 24, 2024. While much of the commentary has focused on the $95 billion foreign aid package, the mandated sale of TikTok, and other front-page aspects of the pending legislation, one aspect flew under the radar: a section of H.R. 815 that doubled the statute of limitations of the International Emergency Economic Powers Act and the Trading With the Enemy Act from five years to ten years. Full background here: https://lnkd.in/eP5mWqrv

Willkie has been shortlisted for “Reinsurance Facilitator of the Year” at the Insurance Insider ILS Awards 2024, recognizing the firm as a market leader in complex insurance-linked securities (ILS) transactions. The Insurance Insider ILS Awards, formerly the Trading Risk Awards, celebrate the leaders of (re)insurance convergence industry and highlight the “outstanding contributions and achievements” at the forefront of the field. Learn more here: https://lnkd.in/eH_dP3_2

The UK Government has published its response to its call for evidence on various aspects of the scope and operation of the UK’s National Security and Investment Act 2021, with a view to striking a better balance between minimizing impediments to investment, and protecting the UK’s national security. Full background here: https://lnkd.in/evf4VG8U

The District of Columbia Circuit Judicial Conference Standing Committee on Pro Bono Legal Services has recognized Willkie for its exceptional pro bono contributions in 2023. Willkie is among the honorees of “The 40 at 50 Judicial Pro Bono Recognition Breakfast,” which celebrates firms in Washington, D.C., where at least 40 percent of lawyers contributed 50 or more hours of pro bono legal services in 2023. Willkie has earned the distinction numerous times for its longstanding commitment to pro bono service. Learn more here: https://lnkd.in/eBMJZRGQ

On this Staff Appreciation Day we thank all of our staff professionals for their many contributions to Willkie. We believe our staff professionals are best in class and provide exceptional service all year round, and their hard work and dedication are greatly appreciated. We celebrated with events across the Firm -- in New York, we hosted a lunch and ice cream social where partners served the ice cream. Thanks to all who attended! 

On Thursday, April 11, 2024, the U.S. Department of the Treasury, Office of Investment Security, issued a Notice of Proposed Rulemaking to enhance the regulations governing the Committee on Foreign Investment in the United States.   Full background here: https://lnkd.in/dT6G8SvG

On May 8, partner and Co-Chair of the firm’s Corporate Governance practice Robert Stebbins will participate on the panel titled “CTLB Webinar: The Future of the Administrative State for Business Law,” hosted by USC Gould School of Law. The panelists will discuss current trends in federal agency rulemaking, its constitutional challenges and its impact on business law. Learn more here: https://lnkd.in/eJKQFMcC

On May 1, partner Katrina Robson will moderate the virtual panel titled “Don’t Bank on It: Revisiting Bank Mergers?” hosted by the American Bar Association. The panelists will discuss the Department of Justice’s plan for intensifying bank merger review. Learn more here: https://lnkd.in/dfTsQkeN

Willkie has again been named among the top 100 firms with standout sports law practices by 100LawFirms.com, a legal guide published by Hackney Publications, a leading publisher of sports law periodicals. Willkie was recognized in the fourth annual “100 Law Firms with Sports Law Practices You Need to Know About,” the 2024 guide to the industry’s “exemplary” sports law practices. Learn more here: https://lnkd.in/eA97DVUw