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Government Contracts: Alert - December 1, 2008

Beginning January 15, 2009, most federal contractors and subcontractors will be required to use E-Verify to verify the eligibility of their employees to work in the U.S. A recent final rule, which amends Federal Acquisition Regulations pursuant to a June 6, 2008 Executive Order, requires certain government contracts to contain a clause requiring contractors to enroll in and use E-Verify. Previously, participation in the program was optional. This alert provides a summary of the E-Verify program, its applicability to federal contractors and its requirements.

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Nicholas Milano Appointed Executive Partner of Holland & Knight's Fort Lauderdale Office

FORT LAUDERDALE, Fla. – Holland & Knight Managing Partner Steven Sonberg has appointed Nicholas "Nick" Milano to serve as Executive Partner of the firm's Fort Lauderdale office. In this new role, Milano will be responsible for management of the office. He will focus his energy and talent on expansion of the office's core practice areas, which include real estate, hospitality, litigation, private wealth services, tax and corporate/M&A.

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Securities & Financial News to Note
Alert - February 25, 2008
 
In this Issue...
FASB to Propose Increased Transparency for Alternative Investments Held in Pensions
 
 February 25, 2008
 

On February 13, 2008, the FASB stated that it anticipates releasing a proposal by March 7, 2008, that would require entities to provide more transparent accounting disclosures regarding alternative investments held in pension and other postretirement benefit plans. Specifically, the FASB plans to issue an exposure draft as a FASB staff position to amend FASB Statement No. 132R, Employers’ Disclosures about Pensions and Other Postretirement Benefits, to provide a principle for further disaggregation of plan assets beyond categories such as equity, debt, real estate and all other assets. In light of concerns that more information is needed regarding the risks associated with the assets held by various pension and postretirement benefit plans, under FASB’s proposed guidance, various asset categories would be further disaggregated into subcategories and then sorted by risk using the fair hierarchy as outlined in FASB Statement No. 157, Fair Value Measurements. In addition, the FASB said it would further amend FASB Statement No. 132R to include the same disclosures required by FASB Statement No. 157 for the purposes of fair value measurements of plan assets, with FASB’s objective being to provide more transparency around the fair value measurements of pension plan assets. The standard is expected to be effective for fiscal years ending after December 15, 2008.

http://www.fasb.org/project/fas132r_disclosures_about_plan_assets.shtml