United States: Akin Space Law, Regulation And Policy Update - April 2024 - Akin Gump Strauss Hauer & Feld LLP

ByteDance Says , It Won't Sell TikTok. The United States passed a law on April 24 that requires ByteDance to sell TikTok in 2025 or be banned across the nation. The United States passed a law on April 24 that requires ByteDance to sell TikTok in 2025 or be banned across the nation. In response to a news article claiming ByteDance was considering selling TikTok in America without its algorithm. the Chinese company said, "Foreign media reports of ByteDance selling TikTok are not true," BBC reports. . ByteDance doesn't have any plans to sell TikTok, ByteDance, via statement. TikTok has continuously denied claims that its parent company is controlled by the Chinese government. We are confident and we will keep fighting for your rights in the courts, Shou Zi Chew, TikTok CEO, via statement. The facts, and the Constitution, are on our side... rest assured, we aren't going anywhere, Shou Zi Chew, TikTok CEO, via statement. The Chinese government, which has also denied any ties to ByteDance, said that banning TikTok would "inevitably come back to bite the U.S.". BBC reports that 60% of TikTok shares are currently "owned by institutional investors, including major U.S. investment firms.". 20% is owned by ByteDance founder Zhang Yiming, and 20% is owned by global employees. Out of ByteDance's five board members, three are American, BBC reports.

On April 23, 2024, the Federal Trade Commission (FTC) approved, by a 3-2 vote, a final rule that would void and ban nearly all employee non-compete agreements in...

On April 3, 2024, the U.S. Securities and Exchange Commission (SEC) announced its first enforcement action against a registered investment adviser (RIA) with no...

On April 2, 2024, the U.S. Department of Labor (DOL) announced its final amendment to prohibited transaction class exemption 84-14 (the QPAM Exemption).