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Item 19 Disclosures Must Now Comply With New Law
The North American Securities Administrators Association (NASAA) Commentary on financial performance representations (FPR), which we have been writing about for the last year, is now the law. As a result, if your fiscal year ended Dec. 31, 2017, you must comply with the new law when you prepare the annual update to your franchise disclosure document (FDD) and file your renewal applications with the franchise registration states. This article will highlight provisions we found needed updating in many of the FDDs we have reviewed.
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Other Legal Updates
By Henry Pfutzenreuter
A Moving Target: The NLRB Overturned Browning-Ferris – What’s Next?
Franchisors got an early Christmas present last month when the National Labor Relations Board (NLRB) broke on political lines in a 3-2 decision overruling Browning-Ferris Industries, 362 NLRB No. 186 (2015). In Hy-Brand Industrial Contractors, Ltd., 365 NLRB No. 165 (2017), the NLRB’s new Republican majority returned to the previous standard governing joint-employer liability. While the industry welcomes the news, there is still lingering uncertainty about the joint-employer threat.
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New European Union Data Protection Rules
Franchisors who process or hold personal data for individuals residing in the European Union (EU) will be subject to the EU’s General Data Protection Regulation (GDPR) beginning on May 25. Franchisors who will be subject to the GDPR should begin taking action now to comply with its forthcoming implementation.
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New Guidance on FDA Menu Labeling Rules
After several postponements, the FDA will finally begin implementing its Menu Labeling Final Rule on May 7. On Nov. 10, 2017, the FDA published additional, non-binding draft guidance designed to address questions and concerns raised about the rule.
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News & Press
Larkin Hoffman attorneys Joe Fittante, Henry Pfutzenreuter, and Inga Schuchard will attend the International Franchise Association’s 58th annual convention in Phoenix, Arizona Feb. 10-13. Inga will facilitate a roundtable discussion entitled “Enforcing System Standards Without Default Notices.”
Sawan Patel will present a session entitled, “A Practical Guide to Managing Issues Faced by Smaller and/or Start-Up Franchisors,” at the next International Franchise Association legal symposium, which will be held in Washington D.C. May 6-8.
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In the Community
On Martin Luther King Jr. Day, 29 Larkin Hoffman attorneys, staff, and family members assembled for the firm’s fourth annual MLK Jr. Day of Service. The volunteers packed and sorted food at Second Harvest Heartland. They packed a total of 4,202 pounds of food, which will stock food shelves that help feed hungry families in the upper Midwest.
The firm hosted Oasis for Youth at its annual holiday breakfast on Dec. 8, 2017, making donations of money, t-shirts, hair-care products, and gift cards to the program. Oasis for Youth provides food, clothing, employment referral, transportation and many other forms of support to at-risk teens and young adults. Larkin Hoffman was honored to help Oasis for Youth celebrate its sixth year of opening doors to housing, employment, education and wellness for youth facing homelessness in the suburbs.
For the seventh consecutive year, Larkin Hoffman “Rocked the Red Kettle” with the Salvation Army on Saturday, Nov. 18, 2017 by staffing red kettles at Mall of America. Larkin Hoffman provided 15 hours of red kettle staffing, with 20 employee volunteers and their families ringing bells and collecting donations.
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Winter 2018 Issue
Our Professionals
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Charles Modell, CFE
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Joseph Fittante, Jr.
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Mark Robertson
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James Susag
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William Thornton
Susan Tegt
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Sawan Patel
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Inga Schuchard
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Bryan Huntington
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Henry Pfutzenreuter, editor
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Jill Henson
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Jan Jahn
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