Thoughtful Insight and Updates on Legal Issues that Matter to You

Perspectives

FDA Takes Cooperation with FTC to a New Level

On February 1, 2011, the U.S. Food and Drug Administration (FDA) has cited a dietary supplement manufacturer for violating not only the Food, Drug & Cosmetic Act (FD&C Act) that […]

Court of Appeals Overturns Ruling Allowing FDA to Conduct Records Inspections of Compounding Pharmacies

On February 25, 2011, the United States Court of Appeals for the Fifth Circuit vacated a ruling of the United States District Court for the  Western District of Texas which […]

U.S. Department of Justice charges former UBS banker Christos Bagios with conspiracy to defraud the United States

The United States Attorney’s Office for the Southern District of Florida together with the Department of Justice – Tax Division, charged via information Christos Bagios, now a senior banker at Credit Suisse, of conspiring to defraud the United States of income taxes from U.S. citizens and residents pursuant to 18 U.S.C. section 371, commonly referred to as a Klein Conspiracy.

Supreme Court limits the Confrontation Clause of the Sixth Amendment in Michigan v. Bryant

On February 28, 2011, in Michigan v. Byrant, Justice Sotomayor writing for the United States Supreme Court held that a victim’s identification and description of the defendant and the location of the alleged crime were not testimonial statements because they had a “primary purpose .

FDA Announces Removal of Unapproved Cold, Cough, and Allergy Drugs from U.S. Market

On Wednesday of this week, the FDA announced its intent to remove approximately 500 unapproved prescription medicines from the U.S. market. The unapproved drugs are all intended for the relief […]

FinCEN Amends and Clarifies FBAR Responsibilities

On February 24, 2011, the Financial Crimes Enforcement Network (FinCEN) issued a final rule amending and clarifying the Bank Secrecy Act (BSA) implementing regulations regarding the Report of Foreign Bank and Financial Accounts (FBAR).

President Obama Warns FDA That Overhaul and Modernization Are Necessary

Last week, the Financial Times reported that President Obama has warned the U.S. Food and Drug Administration (FDA) that it will be the target of a major overhaul due to its failure to keep up with advances in medicine and biotechnology.

New Food Safety Law Contains Protections for Whistleblowers

Food industry workers turned whistleblowers have been faced with retaliation from their employers. However, thanks to a new provision in the sweeping food safety law signed by President Barack Obama last month, workers have gained protection.

Final FASB Guidance on Troubled Debt Restructurings Due Out by March 31, 2011

At its board meeting on February 23, 2011, the Financial Accounting Standards Board (FASB) stated that it plans to issue its final guidance on Troubled Debt Restructurings (TDRs) by March […]

U.S. Supreme Court to Decide if Internal Revenue Code Section 7206 Offenses are a Basis for Deportation

In November of 2010, the taxpayer at issue in Kawashima v. Holder, 615 F.3d 1043 (9th Cir. 2010) (available here), petitioned the Supreme Court for a Writ of Certiorari. The […]