KNOWING MATTERS
BREAKING NEWS
Baker Botts Announces the Promotion of New Counsel
KNOWING MATTERS
VIDEO SERIES
Litigation Partner Seth Taube Discusses Corporate Compliance and CFIUS
KNOWING MATTERS
BREAKING NEWS
Resignation of Federal Energy Regulatory Commission Chair Creates Review Backlog and Potential Gridlock
KNOWING MATTERS
BREAKING NEWS
HOUSTON, January 18, 2017 - Baker Botts, L.L.P., a leading international law firm, announced today the promotion of two new Counsel.
“David and Kathryn are outstanding lawyers who are focused on meeting the needs of our global clients on a daily basis and really represent our Firm’s dedication to providing the best in client service,” said Andrew M. Baker, Managing Partner of Baker Botts.
David Cardwell, Counsel
Mr. Cardwell is an Antitrust and Competition lawyer based in the firm’s Brussels office. His practice focuses on EU competition law, including a particular concentration on EU and international merger control laws. Mr. Cardwell has represented clients in significant mergers and acquisitions across many industry areas, including the technology, pharmaceutical, media, automotive and heavy industry sectors. He has counseled clients in merger reviews before both the European Commission and national competition authorities, including cases involving advice on media plurality, regulated water industries and defense-related mergers.
Katie Juffa, Special Counsel
Ms. Juffa is an Intellectual Property lawyer based in Dallas. Her practice focuses on a range of intellectual property matters, including patent prosecution, intellectual property counseling, technology transfers and patent litigation. Ms. Juffa prepares and prosecutes patent applications relating to telecommunications, software, financial services and other technologies. She also drafts claim charts and prepares arguments for reexamination and inter partes review before the U.S. Patent and Trademark Office.
Baker Botts Partner Seth Taube, Securities and Shareholder Litigation chair in the New York office, discusses corporate compliance and The Committee on Foreign Investment in the United States (CFIUS) as some of the important areas pertaining to international trade.
Taube discusses integral compliance issues that corporate counsel should consider, especially given the recent developments around U.S. trade sanctions. He states that international trade is one of the most “under-appreciated areas of corporate compliance” with a lot of landmines and areas to get into trouble, and that it’s not just “put it in the box and ship.” Taube identifies a potential compliance landmine where a harmless task contributes to the transfer of sensitive information to a foreign country. He also discusses the important role CFIUS has on in international trade where the government entity could stop the sale of a U.S. company to a foreign buyer, without any appeal, if the agency doesn't feel that the transaction is appropriate.
Taube discusses integral compliance issues that corporate counsel should consider, especially given the recent developments around U.S. trade sanctions. He states that international trade is one of the most “under-appreciated areas of corporate compliance” with a lot of landmines and areas to get into trouble, and that it’s not just “put it in the box and ship.” Taube identifies a potential compliance landmine where a harmless task contributes to the transfer of sensitive information to a foreign country. He also discusses the important role CFIUS has on in international trade where the government entity could stop the sale of a U.S. company to a foreign buyer, without any appeal, if the agency doesn't feel that the transaction is appropriate.
Please click to watch the video.
WASHINGTON, January 27, 2017 – The resignation of Federal Energy Regulatory Commission (“FERC”) Chairman Norman C. Bay leaves the FERC with only two Commissioners serving on the five-member commission.
“The Commission requires a quorum of three members to issue substantive orders, regulations, and policy initiatives,” said Jay Ryan, a Partner with Baker Botts based in Washington. “Given the backlog of Trump Administration nominees currently pending before the Senate, it could take several weeks or months for a new FERC Commissioner to be nominated and confirmed,” added Mr. Ryan.
As a result, the FERC will not be able to resolve pending proceedings, conduct other official business and could fail to meet key deadlines established in federal statutes. The lack of a quorum is also likely to impact the FERC’s oversight and enforcement activities, since the FERC will be unable to issue orders approving audit findings, settlements of investigations, and orders to show cause.
“This creates a huge potential challenge for regulated utilities and energy companies. For example, under the Natural Gas Act and Federal Power Act, regulated companies are required to file changes to rates and tariffs 30 and 60 days, respectively, prior to the date upon which they become effective,” said Mr. Ryan.
“However, if the FERC fails to act within the time that those rates go into effect, the changes become effective automatically and if the FERC wishes to order further changes, it would have to do so under statutory provisions that place a heavier burden on the agency. Further, any requests for rehearing of the FERC’s orders under those statutes that are not acted upon by the FERC within a prescribed period are automatically denied,” added Mr. Ryan.
“One of the more significant effects that the lack of a quorum could have is in delaying the approval of any natural gas pipeline projects currently pending before the agency. The FERC staff can continue to prepare environmental documents and otherwise develop the record in major pipeline construction project proceedings,” said Brooksany Barrowes, a Washington based Partner.
”Only the Commissioners, acting on the authority of the FERC, can currently approve those projects. Given the need for expanded gas infrastructure and the narrow construction window many projects face, this could be a major issue,” added Ms. Barrowes.
Baker Botts’ Partners Jay Ryan and Brooksany Barrowes have extensive experience representing clients before the Federal Energy Regulatory Commission and are available for comment.
“The Commission requires a quorum of three members to issue substantive orders, regulations, and policy initiatives,” said Jay Ryan, a Partner with Baker Botts based in Washington. “Given the backlog of Trump Administration nominees currently pending before the Senate, it could take several weeks or months for a new FERC Commissioner to be nominated and confirmed,” added Mr. Ryan.
As a result, the FERC will not be able to resolve pending proceedings, conduct other official business and could fail to meet key deadlines established in federal statutes. The lack of a quorum is also likely to impact the FERC’s oversight and enforcement activities, since the FERC will be unable to issue orders approving audit findings, settlements of investigations, and orders to show cause.
“This creates a huge potential challenge for regulated utilities and energy companies. For example, under the Natural Gas Act and Federal Power Act, regulated companies are required to file changes to rates and tariffs 30 and 60 days, respectively, prior to the date upon which they become effective,” said Mr. Ryan.
“However, if the FERC fails to act within the time that those rates go into effect, the changes become effective automatically and if the FERC wishes to order further changes, it would have to do so under statutory provisions that place a heavier burden on the agency. Further, any requests for rehearing of the FERC’s orders under those statutes that are not acted upon by the FERC within a prescribed period are automatically denied,” added Mr. Ryan.
“One of the more significant effects that the lack of a quorum could have is in delaying the approval of any natural gas pipeline projects currently pending before the agency. The FERC staff can continue to prepare environmental documents and otherwise develop the record in major pipeline construction project proceedings,” said Brooksany Barrowes, a Washington based Partner.
”Only the Commissioners, acting on the authority of the FERC, can currently approve those projects. Given the need for expanded gas infrastructure and the narrow construction window many projects face, this could be a major issue,” added Ms. Barrowes.
Baker Botts’ Partners Jay Ryan and Brooksany Barrowes have extensive experience representing clients before the Federal Energy Regulatory Commission and are available for comment.
FTC Increases Thresholds for Hart-Scott-Rodino Act and Corporate Interlock Statute
On January 19, 2017, the Federal Trade Commission announced new jurisdictional thresholds for the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”) and Section 8 of the Clayton Act (“Corporate Interlock Statute”). Both changes are expected to be effective prior to the end of February 2017.
Intellectual Property Report: February 2017
In the Baker Botts IP Report, lawyers share their insight on the latest Intellectual Property topics.
Baker Botts Talks Antitrust Enforcement in the Trump Administration
As part of Baker Botts’ on-going series of seminars, client events and communications focused on the new Trump Administration, Washington D.C., based partners Sean Boland, Paul Cuomo, and Tom Fina provided an overview on the new Administration’s likely Antitrust enforcement priorities and an update on recent antitrust developments
Patent Trial Partner Wayne Stacy Releases New PTAB Digest Deskbook
Baker Botts L.L.P., a leading international law firm, announced that Wayne Stacy, a partner in the firm’s Intellectual Property (IP) Department, has collaborated with Orion Armon to author the newly released PTAB Digest Deskbook, 2016 Edition.
Private Equity Report: July 2016
On May 4, 2016 the Internal Revenue Service (the “IRS”) issued final and temporary regulations, Treasury Regulation § 301.7701-2T (the “Regulation”), to clarify the employment tax treatment of partners in a partnership that owns a disregarded entity.
Federal Circuit To Hear En Banc Whether Certain PTAB Institution Decisions Are Reviewable
The Court of Appeals for the Federal Circuit has recently announced that it will hear en banc the question of whether certain decisions of the Patent Trial and Appeal Board (PTAB) that are entered at the beginning of America Invents Act (AIA) trials (e.g. at the outset of an Inter Partes Review) are reviewable on appeal. This has the potential to reshape the conduct of PTAB Trial proceedings and may alter the relationship between PTAB Trials and parallel District Court proceedings. Click here to read more from Baker Botts IP lawyers.
World Trademark Review 1000 recognizes Baker Botts Intellectual Property Lawyers
Baker Botts announced that its Intellectual Property group has been recognized in the 2017 edition of World Trademark Review 1000 – The World’s Leading Trademark Professional, published by World Trademark Review of the IP Media Group.
FERC Continues Electric Market Reforms
On January 19, 2017, the Federal Energy Regulatory Commission (“FERC”) continued its efforts to shape and reform organized energy markets by proposing new rules for uplift charges and setting forth new policies for payments to electric storage resources.
PHMSA Issues Final Rule Regarding Expanded Safety Regulations for Hazardous Liquids Pipelines
On January 13, 2017, the Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (“PHMSA”) issued a final rule amending its pipeline safety regulations for the design, construction, testing, operation, and maintenance of pipelines transporting hazardous liquids (“Final Rule”).
Final MLP Qualifying Income
On January 24, the Internal Revenue Service (IRS) formally published in the Federal Register final regulations defining MLP qualifying income. The regulations were published despite a January 20 memorandum issued by the Trump Administration imposing a general freeze on, among other things, the publication of regulations in the Federal Register.
Obama Administration Lifts Trade Restrictions Related to Sudan
On January 13, 2017, the Obama administration announced that it was easing many of the restrictions on trade with Sudan “in response to positive developments in the country over the past six months related to bilateral cooperation, the ending of internal hostilities, regional cooperation, and improvements to humanitarian access.”
Today’s Whistleblower Realities: Learning to Expect and Effectively Respond to “the Unexpected”
Baker Botts Litigation partners, Amy Conway-Hatcher and Alex Bourelly discuss recent activity of corporate misconduct and provides guidance on how best to not only get ahead of problems that may arise, but also become more nimble and tactical in how an organization responds to ‘‘the unexpected.’’
President Trump Orders Expedited Environmental Reviews for High Priority Infrastructure Projects
On Tuesday, January 24, 2017, President Trump issued an “Executive Order Expediting Environmental Reviews and Approvals For High Priority Infrastructure Projects” (“Order”).