Newsletters & Alerts
FY 2012 H-1B Cap Reached
U.S. Citizenship and Immigration Services (“USCIS”) announced on November 23, 2011 via a press release on its website, that on November 22, 2011 it had received a sufficient number of H-1B petitions to reach the statutory cap of 65,000 for the fiscal year (“FY 2012”). Consequently, November 22, 2011 is the final receipt date for [...]
Treasury Announces New Sanctions on Iran Including Section 311 Measures
Recently, the U.S. Department of Treasury (“Treasury”) and the U.S. Department of State (“State”) took a series of actions to increase pressure on Iran to comply with its international obligations and address the international community’s longstanding concerns regarding its nuclear program. The actions include: (i) expanding sanctions to target the supply of goods, services, technology [...]
H-1B Numbers Usage Continue to Escalate
According to the United States Citizenship and Immigration Services’ (“USCIS”) most recent count of H-1B Petitions received that are subject to the FY 2012 regular cap, as of November 18, 2011, USCIS had received approximately 61,800 petitions subject to the 65,000 annual cap (up to 6,800 quotas may be reserved for Chile and Singapore pursuant to Free [...]
IRS and Treasury On Track to Issue Proposed Regulations on the Foreign Account Tax Compliance Act
The Deputy Commissioner (“Commissioner”) of the Internal Revenue Service (“IRS”), Large Business and International Division recently announced that the IRS and the United States Department of Treasury (“Treasury”) are on track to issue proposed regulations (“Regulations”) to implement the Foreign Account Tax Compliance Act (“FATCA”). The Commissioner stated that the IRS and Treasury are making [...]
Update on H-1B Numbers Usage
According to the United States Citizenship and Immigration Services’ (“USCIS”) most recent count of H-1B Petitions received that are subject to the FY 2012 regular cap, as of November 2, 2011, USCIS had received approximately 50,800 petitions subject to the 65,000 annual cap (6,800 quotas are reserved for Chile and Singapore pursuant to Free Trade [...]
SEC Charges Banco Espirito Santo S.A. for Violating Registration Provisions of U.S. Securities Laws
The Securities and Exchange Commission (“SEC”) recently charged Banco Espirito Santo S.A. (“BES”) with violations of the broker-dealer, investment adviser and securities transaction registration provisions of the federal securities laws (the “Enforcement Action”). Pursuant to the Enforcement Action, Portugal-based BES offered brokerage services and investment advise between 2004 and 2009 to approximately 3,800 United States [...]
USCIS to Return to Practice of Sending Original Notices of Action to Attorneys or Accredited Representative
On October 20, 2011, U.S. Citizenship and Immigration Services’ (USCIS) Director, Alejandro N. Majorkas, announced that as a result of negative feedback received from stakeholders, USCIS will return to its former practice of forwarding the original Notices of Action (Form I-797) to the attorney or accredited representative listed on a Form G-28 with a copy [...]
FinCEN Proposes Reporting Requirement of International Transport of Prepaid Access Devices
The Financial Crimes Enforcement Network (“FinCEN”) has recently issued a Notice of Proposed Rulemaking (“Proposed Rule”) to add certain tangible prepaid access devices to the list of monetary instruments to be reported when transported into or out of the United States. Current regulations require that a Currency and Monetary Instrument Report (CMIR) be filed regarding [...]
FinCEN Issues Final Rule to Implement Section 104(e) of CISADA
The Financial Crimes Enforcement Network (“FinCEN”) has recently issued a Final Rule (“Final Rule”) to implement section 104(e) of the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010 (“CISADA”), imposing certain reporting requirements upon U.S. banks that maintain a correspondent account for a foreign bank. CISADA prohibits the opening and maintenance of correspondent and [...]
Is Your Company Complying with the Equal Employment Opportunity Commission’s Regulations under ADA Amendments Act
ATTENTION EMPLOYERS: Make Sure Your Company Complies with the Equal Employment Opportunity Commission’s Regulations under ADA Amendments Act Employers must be proactive in their efforts to comply with the Amendments Act and the EEOC’s implementing regulations. This spring, the Equal Employment Opportunity Commission published regulations implementing the ADA Amendments Act of 2008 (“Amendments Act”). The [...]
