COVID-19 has had an unprecedented effect on the retail industry across the United States, as many retailers grapple with government mandates that either require closure or impose stringent restrictions on being open, employment and supply chain disruptions, and an overall decline in consumer demand as market conditions remain volatile and unemployment rates continue to rise.
Continue Reading Trends in Retailer SEC Disclosures in Light of COVID-19
The COVID-19 pandemic poses unique and novel challenges to publicly-traded retailers, particularly with respect to design and testing of both internal controls over financial reporting and disclosure controls and procedures. We recommend that retailers assess what has changed in the current financial reporting environment, consider whether existing controls are sufficient to prepare financial statements and disclosure documents at the reasonable assurance level, and determine what new controls (if any) are necessary to reduce the risk of errors and fraud.
Continue Reading COVID-19: Considerations for Internal Controls Over Financial Reporting
In light of the various restrictions on retail businesses being issued nationwide to fight the spread of COVID-19—such as the “safer at home” orders issued in Los Angeles County and throughout the entire State of California last week—one Southern California city is taking action to support local businesses, while continuing to push compliance with the new legal restrictions.
Continue Reading Supporting Local Retail in a Time of Local Restrictions
Coastal areas in Texas have already begun evacuating as Hurricane Harvey heads for the Gulf Coast. Weather experts anticipate that the windstorm will reach Category 3 or Category 4 status by the time it makes landfall on the Texas coast late Friday night or early Saturday morning. Continue reading to see how you can prepare for possible losses.
Continue Reading Preparing for Hurricane Harvey: Insurance May Help Weather the Storm
On August 15, 2017, the FTC announced that it had reached a settlement with Uber, Inc., over allegations that the ride-sharing company had made deceptive data privacy and security representations to its consumers. Under the terms of the settlement, Uber has agreed to implement a comprehensive privacy program and undergo regular, independent privacy audits for the next 20 years.
Continue Reading Uber Settles FTC Data Privacy and Security Allegations
In an important decision, the Second Circuit Court of Appeals ruled that an employer’s liability exclusion does not preclude coverage for claims brought by an employee of one insured against another insured. In a recent article in Lodging Magazine, Hunton & Williams LLP’s insurance coverage lawyers discuss the significance of the Second Circuit’s ruling.
Continue Reading Insurance Coverage for Employee Claims
Development International recently published its third annual report summarizing U.S. public company conflict minerals reports filed on Form SD for reporting year 2016. Although the report advances a very narrow reading of the recent D.C. Circuit case striking down part of the SEC conflict minerals rule, it otherwise provides a wealth of statistical information about the most recent round of Form SD filings. This information can be useful to retailers benchmarking their own Form SD reporting as well as the Form SD reporting of key suppliers.
Continue Reading Conflict Minerals Reporting in 2017
It is no secret that California has had appliance efficiency standards in place for some time now. And it is no secret that the California Energy Commission has been responsible for crafting those standards. According to the CEC and the California State Legislature, however, compliance with those standards has been hit-or-miss. Continue reading to see what retailers can do to ensure compliance.
Continue Reading California’s Appliance Efficiency Standards and the Cost of Non-Compliance
On August 2, 2017, the U.S. Senate confirmed one of President Trump’s two management-side appointees, Marvin Kaplan, to the National Labor Relations Board in a contentious vote along party lines. Kaplan was sworn in on August 10, 2017, for a term ending on August 27, 2020.
Continue Reading NLRB No Longer Controlled by Labor Union Appointees
Recently, the Santa Barbara City Council, in an effort to combat the retail malaise on State Street in Downtown Santa Barbara, has approved a pilot program that would streamline the permit and review process for potential commercial tenants.
Continue Reading Santa Barbara City Council Strikes Back Against Retail Malaise