Monday, January 24, 2022

Bureau of Competition: Premerger Notification Filings

  • The FTC announced the 2022 updates on the size of transactional thresholds for premerger notification filings and interlocking directorates. The size-of-transaction thresholds for reporting proposed mergers and acquisitions under Section 7A of the Clayton Act will adjust to $101 million, up from $92 million. The thresholds under Section 8 of the Act that trigger prohibitions on certain interlocking memberships on corporate boards of directors were also updated: $41,034,000 for Section 8(a)(l) and $4,103,400 for Section 8(a)(2)(A). Commissioner Rebecca Kelly Slaughter issued a statement, and Chair Lina M. Khan joined, which highlighted the FTCs updates and showed support for Congress’ efforts to increase certain fees and implement other adjustments to ensure that it is keeping pace with the U.S. economy.

Continue Reading FTC Updates (January 24–28, 2022)

Earlier this month, New York State Assemblywoman Kelles and State Senator Biaggi introduced the Fashion Sustainability and Social Accountability Act in the New York State Assembly and Senate. If the legislation becomes law, it would amend New York’s general business law to require fashion companies to publicly disclose extensive information about their environmental, social, and governance (“ESG”) policies, impacts, and targets for improvement.

Specifically, the Act would require all fashion retail sellers and manufacturers doing business in New York that have annual worldwide gross receipts surpassing $100 million to disclose:

  • ESG due diligence policies and processes;
  • ESG outcomes, including actual or possible negative environmental and social impacts; and
  • Binding targets for prevention and improvement of ESG outcomes and policies.

Continue Reading Will New York’s Fashion Sustainability and Social Accountability Act Set a Trend?