Compliance

  • May 23, 2024

    Conn. To Expand Paid Sick Leave To Smaller Businesses

    More employees in Connecticut will soon become eligible for paid sick leave after the state's governor gave his blessing on a bill that expands the state's time-off requirements to include smaller businesses.

  • May 23, 2024

    Ga. Judge Says Disorderly Law 'Likely Survives' Challenge

    A federal judge has declined to grant a Georgia man's request to block enforcement of the disorderly conduct ordinance he was arrested under in 2021, finding the law "likely survives" a constitutional challenge to its alleged limits on free speech rights.

  • May 23, 2024

    Pipe Supplier Can't Nix $2.6M 'Take Home' Asbestos Verdict

    A California appeals panel won't upend a $2.6 million verdict against J-M Manufacturing Co. Inc. in a case alleging a man contracted mesothelioma because of his brother's work, rejecting the company's argument that the court should apply a duty standard for negligence claims to the man's strict liability claim.

  • May 23, 2024

    Man Behind NH Primary Deepfake Faces Charges, FCC Fines

    The Democratic consultant accused of making robocalls with a cloned voice of President Joe Biden discouraging voters from taking part in the New Hampshire primary faces a state indictment on 13 felony voter suppression charges and $6 million in potential federal fines.

  • May 23, 2024

    House Passes Bill To Block Fed-Issued Digital Dollar

    The U.S. House of Representatives on Thursday passed a bill that would prohibit the Federal Reserve from issuing a digital dollar in a vote that fell starkly along party lines, with Democrats decrying the bill as fearmongering over privacy concerns and a departure from the previous day's bipartisan passage of a regulatory framework for digital assets.

  • May 23, 2024

    US Drops Appeal Of Citigroup's $183M Tax Award At Fed. Circ.

    The federal government agreed to stop fighting a ruling that awarded Citigroup $183 million in tax deductions for liabilities belonging to a failing bank it had acquired during the 1980s savings and loan crisis, according to an order Thursday by the Federal Circuit dismissing the appeal.

  • May 23, 2024

    Ambulance Co. Owner Accused Of $1M Pandemic Loan Fraud

    The owner of a California ambulance company who was charged last year with tax evasion and filing false returns has been further accused of fraudulently securing $1 million from federal pandemic relief loan programs, according to the U.S. Department of Justice.

  • May 23, 2024

    Norfolk Southern Inks $310M Deal To Settle Feds' Spill Suit

    Norfolk Southern Railway Co. on Thursday agreed to a $310 million deal to settle the federal government's legal claims that arose out of the 2023 train derailment in East Palestine, Ohio, that released large amounts of contaminants into the air, ground and water.

  • May 23, 2024

    DOJ Sues Live Nation 14 Years After Ticketmaster Deal

    The U.S. Department of Justice sued Live Nation Thursday over the 2010 agreement clearing the concert promotion giant's purchase of Ticketmaster, an oft-maligned deal that enforcers now want to unwind and that is blamed for fiascoes like the meltdown of ticket sales for Taylor Swift's Eras tour.

  • May 23, 2024

    Wow Such Basic: Justices Back Crypto Fans In Dogecoin Duel

    It's up to judges, not arbitrators, to figure out whether contracts between businesses and consumers have subtly superseded earlier agreements to hash out disputes in arbitration rather than litigation, the U.S. Supreme Court ruled Thursday.

  • May 22, 2024

    American Air Pilots Win Cert. Over 401(k)'s ESG Investments

    A Texas federal judge on Wednesday certified a class of pilots accusing American Airlines of packing its $26 billion retirement plan with investments that focused too heavily on environmental, social and governance factors, like climate change, and too little on financial returns.

  • May 22, 2024

    Activist Investor Must Face Exxon's Suit Over Proxy Proposal

    A Texas federal judge Wednesday refused to dismiss an Exxon Mobil Corp. lawsuit against a U.S.-based activist investor over a now-withdrawn shareholder proposal concerning climate change, saying it isn't certain they won't refile their proposal in the future.

  • May 22, 2024

    EasyPay Agrees To Exit Mass. In 'Rent-A-Bank' Settlement

    EasyPay, an alternative finance company, has settled with Massachusetts officials over claims that it gouged Bay State borrowers with predatory loans issued through an out-of-state bank, agreeing to pay $625,000 to consumers and stop doing business in the state as part of a deal unveiled Wednesday.

  • May 22, 2024

    Calif. Justices Debate Time To Sue To Change Insurer's Practices

    A California state attorney urged the California Supreme Court on Thursday to revive a policyholder's Unfair Competition Law claim against State Farm, saying the law's four-year statute of limitation applies over an insurance law's one-year period because the policyholder is seeking a change to its claim-handling practices, not damages.

  • May 22, 2024

    Founders Of BP's Archaea Looted From Own Co., Suit Says

    A group of fraternity brothers who founded waste management company Noble Environmental Inc. and later sold a venture called Archaea Energy to BP has been hit with a shareholder derivative suit in Delaware Chancery Court alleging the fraternity brothers stole billions of dollars from the company and breached their fiduciary duties to minority shareholders.

  • May 22, 2024

    US House Passes Crypto Bill Over SEC, White House Dissent

    The U.S. House of Representatives on Wednesday passed a Republican-led framework to regulate digital assets despite pushback from many Democrats, the U.S. Securities and Exchange Commission and the White House, which questioned whether the bill will actually provide the clarity it promises.

  • May 22, 2024

    China Sanctions 12 US Defense Firms For Taiwan Arms Sales

    China announced on Wednesday that it has issued sanctions against units of a dozen U.S. defense firms, including Lockheed Martin and Raytheon, plus several executives over sales of military weaponry and arms to Taiwan, three days after it sanctioned units of Boeing and General Atomics for similar reasons.

  • May 22, 2024

    Ex-FTX Exec Deserves Up To 7 Years For Fraud, Feds Say

    Federal prosecutors have told a New York federal judge they are seeking a five- to seven-year prison sentence for former FTX executive Ryan Salame, arguing that his campaign finance offense "is one of the largest-ever in American history."

  • May 22, 2024

    Ex-Citi Exec Says She Was Asked To Lie To OCC

    A former Citibank NA managing director hired to bring the bank into compliance with regulatory obligations has accused the bank and its chief operating officer of wrongful termination and retaliation in a suit Wednesday, alleging she was fired for not reporting false information to authorities.

  • May 23, 2024

    Sunsetting Section 230 Gains Traction On Both Sides Of Aisle

    Everyone at Wednesday's House subcommittee hearing, from left to right, seemed to agree that it's time to ditch the Communications Decency Act's hotly contested Section 230, which shields online platforms from liability for content posted by third parties.

  • May 22, 2024

    ATM Plaintiffs Must Share New Data In Visa, Mastercard Suit

    A D.C. federal judge ordered ATM operator plaintiffs on Wednesday to turn over updated data showing average interchange fees and transaction surcharges at the center of a discovery dispute in their long-running class action against Visa and Mastercard, telling the plaintiffs that she wanted to err on the side of "liberal discovery."

  • May 22, 2024

    Antitrust Judge Questions Apple's Phil Schiller On New Fees

    A California federal judge deciding whether Apple has complied with her ban on App Store anti-steering rules questioned Apple fellow Phil Schiller on Wednesday on Apple's new program imposing 27% fees on out-of-app transactions, saying "all the new program does is maintain the anti-competitive environment" for the company's benefit.

  • May 22, 2024

    Binance.US Beats Fla. Regulator's Suspension Order

    A Florida state appeals court agreed with Binance.US on Wednesday that the state's financial regulator shouldn't have denied the cryptocurrency exchange the ability to do business in the state after its affiliate and founder pled guilty last year, and that the agency didn't follow proper procedure in blocking Binance's operations.

  • May 22, 2024

    DC Judge Ships CFTC Election Betting Suit Back To Texas

    A federal judge in the District of Columbia said Wednesday that a case challenging a Commodity Futures Trading Commission ban on an elections betting platform should never have been sent to her court, shipping the lawsuit back to Texas over the objections of the agency.

  • May 22, 2024

    Justices' CFPB Alliance May Save SEC Courts, Not Chevron

    A four-justice concurrence to the U.S. Supreme Court's decision upholding the Consumer Financial Protection Bureau's unique funding scheme last week carries implications for other cases pending before the court that challenge the so-called administrative state, or the permanent cadre of regulatory agencies and career government enforcers who hold sway over vast swaths of American economic life.

Expert Analysis

  • A Vision For Economic Clerkships In The Legal System

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    As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.

  • Opinion

    State-Regulated Cannabis Can Thrive Without Section 280E

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    Marijauna's reclassification as a Schedule III-controlled substance comes at a critical juncture, as removing marijuana from being subjected to Section 280E of the Internal Revenue Code is the only path forward for the state-regulated cannabis industry to survive and thrive, say Andrew Kline at Perkins Coie and Sammy Markland at FTI Consulting.

  • Asset Manager Exemption Shifts May Prove Too Burdensome

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    The U.S. Department of Labor’s recent change to a prohibited transaction exemption used by retirement plan asset managers introduces a host of new costs, burdens and risks to investment firms, from registration requirements to new transition periods, say attorneys at Simpson Thacher.

  • Pay-To-Play Deal Shows Need For Strong Compliance Policies

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    The U.S. Securities and Exchange Commission, through its recent settlement with Wayzata, has indicated that it will continue stringent enforcement of the pay-to-play rule, so investment advisers should ensure strong compliance policies are in place to promptly address potential violations as the November elections approach, say attorneys at WilmerHale.

  • Key Takeaways From FDA Final Rule On Lab-Developed Tests

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    Michele Buenafe and Dennis Gucciardo at Morgan Lewis discuss potential consequences of the U.S. Food and Drug Administration's recently finalized rule regulating lab-developed tests as medical devices, and explain the rule's phaseout policy for enforcement discretion.

  • Assessing HHS' Stance On Rare Disease Patient Assistance

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    The U.S. Department of Health and Human Services' recent advisory opinion, temporarily blessing manufacturer-supported copay funds for rare disease patients, carves a narrow path for single-donor funds, but charities and their donors may require additional assistance to navigate programs for such patients, says Mary Kohler at Kohler Health Law.

  • 7 Effects Of DOL Retirement Asset Manager Exemption Rule

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    The recent U.S. Department of Labor amendment to the retirement asset manager exemption delivers several key practical impacts, including the need for managers, as opposed to funds, to register with the DOL, say attorneys at Ropes & Gray.

  • Opinion

    Feds' Biotech Enforcement Efforts Are Too Heavy-Handed

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    The U.S. Department of Justice's recent actions against biotech companies untether the Anti-Kickback Statute from its original legislative purpose, and threaten to stifle innovation and undermine patient quality of care, say attorneys at Ropes & Gray.

  • 4 Sectors Will Likely Bear Initial Brunt Of FTC 'Junk Fees' Rule

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    If the Federal Trade Commission adopts its comprehensive proposed rule to ban unfair or deceptive fees across the U.S. economy, many businesses — including those in the lodging, event ticketing, dining and transportation sectors — will need to reexamine the way they market and price their products and services, say attorneys at Skadden.

  • Liquidity Risk Management Tops NCUA Exam Priorities

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    As credit unions map their regulatory initiatives and audit plans, they should look to the National Credit Union Administration’s annual supervisory priorities, which include five important examination areas, including liquidity management and interest rate risk, say Juan Arciniegas and Judy Chen at Chapman and Cutler.

  • Protecting IP May Be Tricky Without Noncompetes

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    Contrary to the Federal Trade Commission's view, trade secret law cannot replace noncompetes' protection of proprietary information because intellectual property includes far more than just trade secrets, so businesses need to closely examine their IP protection options, say Aimee Fagan and Ching-Lee Fukuda at Sidley.

  • Regulating Resurrected Species Under The ESA

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    As the prospect of extinct species being resurrected from DNA and reintroduced into the wild grows closer, an analysis of the Endangered Species Act suggests that it could provide a thoughtful, flexible governance framework for such scenarios, say Caroline Meadows and Shelby Bobosky at the SMU Dedman School of Law.

  • 8 Legal Issues Influencing Investors In The Creator Economy

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    The rapidly expanding digital creator economy — funding for which more than doubled in the U.S. in the first quarter — comes with its own set of unique legal issues investors must carefully consider before diving in, say Louis Lehot and Alan Pate at Foley & Lardner.

  • Action Steps To Address New Restrictions On Outbound Data

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    Companies should immediately assess all their data-based operations so they can consider strategies to effectively mitigate new compliance risks brought on by recently implemented transaction restrictions, including a Justice Department proposal and landmark data legislation, say attorneys at Wiley.

  • E-Discovery Quarterly: Recent Rulings On Text Message Data

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    Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.

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