SEC Exempts FPI Directors and Officers from Section 16 Reporting

The SEC has issued an order exempting directors and officers of certain foreign private issuers (FPIs) from Section 16(a) reporting requirements. This exemption is effective immediately and applies to FPIs incorporated in qualifying jurisdictions with qualifying regulations, ahead of the March 18, 2026 compliance deadline.

SEC Exempts FPI Directors/Officers from Section 16 Reporting

The SEC issued an order exempting directors and officers of certain foreign private issuers (FPIs) from Section 16 reporting obligations. This exemption applies to FPIs from qualifying jurisdictions with substantially similar regulations and provides relief ahead of the March 18, 2026, reporting deadline.

Omnibus I Directive Amends EU Sustainability Reporting and Due Diligence

The EU's Omnibus I Directive, amending the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD), has been published in the Official Journal. This directive aims to streamline sustainability reporting and due diligence obligations for businesses operating within the EU.

EU Proposes Industrial Accelerator Act for Public Procurement and Funding

The European Commission has proposed the Industrial Accelerator Act (IAA), which would introduce EU origin and low-carbon content requirements for public procurement and public funding. The proposal aims to boost the EU's manufacturing share and includes conditions for foreign direct investments in key sectors.

OFAC 50 Percent Rule: Ownership Aggregation and Sanctions Compliance

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued guidance clarifying its 50 Percent Rule. This rule treats entities owned 50 percent or more in aggregate by blocked persons as themselves blocked, regardless of whether they are individually listed. The guidance emphasizes the need for sophisticated beneficial ownership tracing beyond simple list screening.

US Government Mobilizes War Risk Insurance for Middle East Commerce

The U.S. International Development Finance Corporation (DFC) will offer political risk insurance and guaranty products to stabilize international commerce and support businesses operating in the Middle East. This initiative aims to mitigate disruptions caused by conflict with the Iranian regime and stabilize the war risk insurance market.

Commonwealth v. Sprows-Watson - Appeals Court Opinion

The Massachusetts Appeals Court issued a non-precedential summary decision affirming a lower court's order denying the Commonwealth's motion for a continuance and allowing the defendants' motions to dismiss charges without prejudice. The decision addresses discovery disputes related to traffic stops and enforcement patterns.

Sophia Terry v. William Powley - Contempt of Court

The Massachusetts Appeals Court affirmed a Probate and Family Court judgment finding a mother not in contempt for alleged violations of a parenting time order. The court found insufficient evidence of clear and convincing disobedience of the court's command regarding supervised parenting time.

Thomas B. Francis, Third v. Suffolk County Sheriff's Department - Employment Discrimination Appeal

The Massachusetts Appeals Court issued a non-precedential opinion affirming a lower court's decision regarding employment discrimination claims. The plaintiff appealed after a jury found in favor of the employer on retaliation claims, following summary judgment on sexual harassment and age discrimination claims.

Guy Maddalone v. Board of Appeals of Nantucket - Zoning Special Permit Appeal

The Massachusetts Appeals Court issued a non-precedential opinion affirming a Land Court judgment that upheld the Nantucket Board of Appeals' decision to grant a special permit. The permit allows for the renovation and enlargement of existing structures on a property, despite objections from an abutter.