Top 10 Headlines from All Regions On December 23, 2008, President Bush signed the Worker, Retiree,and Employer Recovery Act of 2008 (H.R. 7327) (the "WRERAct"), which provides that owners and beneficiaries ofIRAs and other defined contribution plans who are required to takerequired minimum distributions ("RMDs") fromtheir plans in tax year 2009, will generally be able to leave theirmoney in their plans (hopefully to grow) without suffering anypenalty for failure to withdraw. The normal rules still apply for2008. Florida's legislature has just amended various provisions of state law relating to condominiums and homeowners associations. 2008 has seen many significant changes in the environmental sector culminating in the release by the Federal Government (Government) of its White Paper titled 'Carbon Pollution Reduction Scheme, Australia's Low Pollution Future'. At the beginning of this week, the Senate passed the long awaited Offshore Petroleum Amendment (Greenhouse Gas Storage) Bill (Cth). The Bill amends the Offshore Petroleum Act 2006 (Cth) and establishes a regulatory framework for greenhouse gas (GHG) capture and long-term geological storage (CCS). Not long ago, corporate coffers were flush with cash and activist shareholders were insisting that companies distribute cash rather than retain it to fund growth or future operations. Today, cash is precious. On November 28, 2008, the Environmental Protection Agency (EPA)proposed a rule under the Clean Water Act entitled "EffluentLimitations Guidelines and Standards for the Construction andDevelopment Point Source Category." In 2008 there were many developments—legislative,regulatory, case law and economic—that affect estateplanning and related areas on the national, local and internationallevels. The Department of Labor (DOL) has published a final rule on theFamily and Medical Leave Act (FMLA), which will become effective onJanuary 16, 2009. The United States Department of Justice has opened a new fronton its war against allegedly fraudulent tax shelters. On November12, 2008, the United States indicted a senior executive at UBS AGfor tax evasion. On November 17, 2008, the United States Department of Labor (“DOL”) published its long-awaited revised and updated final rules interpreting the Family and Medical Leave Act (“FMLA”). | 
