The chemical industry is subject to complex and ever-evolving laws and regulations. New standards governing the production and use of chemicals are implemented every year worldwide, and existing laws and regulations are constantly changing to keep pace with new information and scientific advancements. Chemical Industry Regulatory Update provides a monthly digest of recent legislative and regulatory developments and related industry news.
Don't Miss the Largest Official Gathering of the Adhesive & Sealant Industry
The 2024 ASC Annual Convention & EXPO takes place in Louisville, Kentucky – April 15-17, 2024. Additionally, there are two technical short courses you can attend: Polyurethane and Formulation Strategies and several regulatory sessions to keep you up to date on the latest state and federal regulations related to the industry. Click here for more information.
FMC Issues Final Rule on Billing Requirements and Practices for Detention and Demurrage Invoices
Karen A. Booth, Jason D. Tutrone, Richard M. Couch
On February 26, 2024, the Federal Maritime Commission (FMC) issued its Final Rule on Detention and Demurrage Billing Requirements. The final rule identifies the parties to whom an invoice must be issued and who are responsible for payment of demurrage and detention charges, specifies the minimum contents of an invoice for demurrage and detention charges, and outlines procedures for invoicing and resolving disputes. The rule implements provisions of the Ocean Shipping Reform Act of 2022 (OSRA 2022), and it applies to invoices issued by ocean common carriers, marine terminal operators (MTOs), and non-vessel operating common carriers (NVOCCs). Continue reading.
SEC Adopts Long-Awaited Climate-Related Disclosure Rules
Jurgita Ashley, Heidi B. (Goldstein) Friedman, Tanya C. Nesbitt, Julia Miller, Kellie Tomin
On March 6, 2024, the SEC adopted its long-awaited climate disclosure rules. In this client update, we highlight ten things about the final rules that public companies should be aware of. Read more.
The DOJ’s New Whistleblower Rewards Policy: A Comprehensive Overview
Joan Meyer, Matthew David Ridings, CCEP, Krupa A. Patel
On March 7, 2024, the Department of Justice (DOJ) announced a new department-wide whistleblower pilot program. This program aims to incentivize whistleblowers to come forward with information related to corporate misconduct. By offering monetary rewards to whistleblowers, the program seeks to enhance enforcement efforts and promote transparency in the business world. There are a few things you need to know about the new program. Continue reading.
CTA, ERA, SEC – Oh My! Balancing Disconnected Regulatory Schemas in Venture Capital
Jacob J. Denham, Lindsay Karas Stencel
“The left hand never knows what the right hand is doing!” is a common metaphor used to describe policies, procedures, or actions that conflict with each other inside the same organization.
With the Corporate Transparency Act (CTA) becoming effective around the same time as the Securities and Exchange Commission (SEC) implements a new enforcement regime around exempt reporting advisers (ERA), those in the venture capital field have a front-row seat to the left hand and right hand playing different tunes on the same legislative piano. Read more.
Cutting No “Slack”: Ephemeral Messaging Creates Significant Enforcement Risk
Brian Lanciault, Matthew David Ridings, CCEP, Mark R. Butscha, Jr.
Regulators and courts are cracking down on businesses and their employees’ use of “ephemeral” messaging—e.g., WeChat, Slack, Signal, WhatsApp, Snapchat—to conduct business activities. The SEC and CFTC have levied billions of dollars in fines against financial institutions that failed to preserve ephemeral messaging communications. In 2021, the FTC obtained spoliation sanctions related to the use of Signal communications, and more recently the agency said it may refer cases to DOJ for potential criminal prosecution when documents are not preserved. In January 2024, the FTC and DOJ announced a hard line: Document preservation obligations require preservation of data from ephemeral messaging platforms and a failure to do so will be treated as spoliation or even criminal obstruction of justice. That is unsurprising given DOJ’s view that “ephemeral messaging applications” are “designed to hide evidence.” Indeed, the FTC has said that complying with document preservation obligations may require “stopping use of certain applications altogether.” Moreover, several courts have imposed hefty discovery sanctions in civil litigation, including dismissal of claims, for failing to identify and preserve ephemeral messaging data. Continue reading.
Chemical Industry Regulatory Update is compiled by Thompson Hine lawyers on behalf of The Adhesive and Sealant Council. It should not be construed as legal advice, and the views and opinions expressed herein are those of the authors and do not necessarily reflect those of the ASC or its members.
For more information, contact the editor, Devin A. Barry, or any of the authors.
Check out the latest Employment Legislation Outlook. This monthly digest is designed to keep you apprised of upcoming major state law changes in areas including paid sick and safe leave laws, family and parental leave, recreational and medicinal marijuana use, workplace gun laws, asking candidates about salary history and unpredictable scheduling.
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