Civil Law

European Commission adopts the European Sustainability Reporting Standards

On 31 July 2023, the European Commission adopted the European Sustainability Reporting Standards (“ESRS“). EU and non-EU entities subject to the new EU Corporate Sustainability Reporting Directive (“CSRD“) will be required to report against the ESRS, making the development of interest to entities preparing for reporting under the CSRD regime.

Background

The CSRD, which entered into force on 5 January 2023, creates detailed sustainability reporting requirements and expands the number of EU and non-EU companies subject … Read the rest

Civil Law

Guest blog: SEC adopts final rules for clawback of erroneously awarded compensation

By: Louann Fang Richard, Brent L. Bernell, Andrew D. Ledbetter, Eric Forni, Rita M. Patel, Keith Ranta, Bryan Card

The Securities and Exchange Commission (SEC) has approved, by a 3-2 vote, final rules that require publicly traded companies to adopt policies regarding recovery of erroneously awarded incentive-based compensation, or “clawback” policies. The SEC initially proposed clawback rules in July 2015, but the rules have been pending finalization until the SEC reopened the comment period in October 2021 and again in … Read the rest

Civil Law

Colorado Adopts Regulations to Prevent Insurers from Stopping ALE and Replacement Cost Benefits

Colorado has suffered major wildfire catastrophes. There are not enough contractors to handle the repairs. As a result, Colorado issued new regulations for insurers regarding the handling of these claims.

The most important part of the Colorado bulletin is the following:

Section 5 Rules

In the event of a catastrophic disaster, an insurer shall waive any waiting periods related to ALE benefits for those policyholders whose residence requires repair or replacement or if the policyholder permanently relocates.

In the event

… Read the rest