Compliance

  • May 01, 2024

    5th Circ. Wants Texas Injunction Ruling In CFPB Late Fee Case

    In a late Tuesday twist, the Fifth Circuit has sent a banking industry lawsuit over the Consumer Financial Protection Bureau's $8 credit card late fee rule back to Texas federal court, saying it doesn't want to be the first to decide whether the rule should be blocked from taking effect later this month.

  • April 30, 2024

    SEC Vet Joins NC Firm 'Reinventing' White Collar

    The former assistant secretary of the U.S. Securities and Exchange Commission, Christina Zaroulis Milnor, has left government service after more than a decade to launch a Washington, D.C., office for North Carolina-based Cranfill Sumner LLP alongside two firm partners who say they are reinventing traditional white collar work, the firm announced Wednesday.

  • April 30, 2024

    Ex-Olympus Exec Says He Was Fired For Flagging FDA Issue

    The former global head of product development at medical manufacturer Olympus Corp. said he was fired earlier this year after he reported multiple compliance concerns regarding the company's practices and related to nearly 100 products, according to a suit filed Monday in Pennsylvania federal court.

  • April 30, 2024

    Judge Strikes Parts Of NC Law Restricting Abortion Drug

    A North Carolina federal judge struck down parts of a state law Tuesday that restricts access to the abortion medication mifepristone, finding some provisions violate the U.S. Constitution's supremacy clause by enacting safety regulations already considered by the U.S. Food and Drug Administration, such as requiring in-person prescribing, dispensing and scheduling around the drug.

  • April 30, 2024

    Ex-Autonomy VP Says CEO Lynch Told Him To Lie To Investors

    A former Autonomy business development executive testified Tuesday that CEO Mike Lynch directed him to lie to a hedge fund investor about prepaid royalty deals that boosted the company's upfront revenue numbers, saying at Lynch's criminal fraud trial that it was hard to say no to the "big boss."

  • April 30, 2024

    SEC Says Penny Stock Firm Failed To Register As A Dealer

    The U.S. Securities and Exchange Commission has sued a New Jersey company for allegedly dealing in penny stock without registering as a securities dealer, echoing claims the agency made against a different lender, which the Eleventh Circuit largely affirmed in February.

  • April 30, 2024

    'Bitcoin Jesus' Dodged Nearly $50M In Taxes, Feds Say

    The U.S. has charged an early bitcoin investor dubbed "Bitcoin Jesus" over allegations that he dodged approximately $48 million in taxes by filing false tax returns and concealing how much of the cryptocurrency he owned, according to an announcement from the U.S. Department of Justice on Tuesday.

  • April 30, 2024

    Final Biden Enviro Review Regs Puts Onus On Agencies

    The Biden administration on Tuesday finalized its second round of revisions to regulations governing federal agencies' environmental reviews, but how agencies weave the new guidelines into their project permitting processes will be where the regulatory rubber hits the road, experts say.

  • April 30, 2024

    SEC Fines Adviser Firm For Splitting Legal Fees With Client

    A Puerto Rico-based investment adviser will pay more than $500,000 to settle the U.S. Securities and Exchange Commission's claims it entered into an improper joint legal fee arrangement with a mutual fund that was also its client.

  • April 30, 2024

    5th Circ. Questions Texas' Standing In SEC Proxy Rule Battle

    The Fifth Circuit appeared skeptical Tuesday of a Texas-led challenge to a U.S. Securities and Exchange Commission regulation that will require fund managers to make it easier for investors to identify ESG issues on corporate ballots, with the judges wondering whether the Lone Star State and others had standing to bring the lawsuit.

  • April 30, 2024

    9th Circ. Says Calif. Bar Didn't Violate Student's Fed. Rights

    The Ninth Circuit on Tuesday affirmed the dismissal of an octogenarian law school student's claims that the State Bar of California violated his 14th Amendment protected rights when it refused to excuse his delay in taking a first-year exam, saying the California Supreme Court has original jurisdiction over admission matters.

  • April 30, 2024

    Pfizer Can't Slip COVID-19 Vax Suit, Texas Tells Court

    The Texas attorney general told a federal judge not to let Pfizer Inc. out of its suit accusing the pharmaceutical company of misleading the public about its COVID-19 vaccine, arguing the suit was properly pled under state law in a brief filed Monday.

  • April 30, 2024

    Split 9th Circ. Finds San Jose Nuisance Laws Constitutional

    A split Ninth Circuit panel held Tuesday that San Jose, California, did not violate the First Amendment rights of a nightclub operator by suspending its license following a shooting, affirming that the public nuisance provisions and licensing scheme for entertainment venues used by the city are not unlawful prior restraints.

  • April 30, 2024

    Debt Box Wants Attorney Fees Paid If SEC Brings New Action

    Crypto project Debt Box has asked a Utah federal judge to impose multiple "guardrails" if the court allows the U.S. Securities and Exchange Commission to refile its troubled registration suit against the firm, including payment of all attorney fees arising from the original, compromised suit.

  • April 30, 2024

    FTC Puts $26B Permian Basin Gas Deal Under Scrutiny

    The Federal Trade Commission is taking an in-depth look at the proposed oil and gas merger between Diamondback Energy and Endeavor Energy Resources by issuing a second request for additional information about the deal, according to new securities filings.

  • April 30, 2024

    Monthly Merger Review Snapshot

    The U.S. Department of Justice pressured the abandonment of a nearly $1 billion insulation deal while the Federal Trade Commission challenged, scrutinized, and battled, deals in the private equity, fashion, grocery, energy and healthcare spaces. Here are some of the major merger review developments from April.

  • April 30, 2024

    Sen. Warren Probes Annuity Cos. Over Use Of 'Secret' Perks

    Large annuity providers are using lavish vacations and other kickbacks to drive sales that disadvantage consumers, Sen. Elizabeth Warren, D-Mass., said Tuesday, demanding information from more than a dozen companies on the heels of a new Labor Department rule aiming to ramp up scrutiny on financial advisers.

  • April 30, 2024

    UK Fund Cites Jacobs' Qatar Oversight Failings In Del. Suit

    A UK pension fund investor in the U.S.-based business that oversaw construction of 2022 World Cup soccer facilities in Qatar has sued the company's directors in Delaware's Court of Chancery, seeking recovery of damages arising from director failures to monitor human rights violations reported by workers.

  • April 30, 2024

    $626M Fee Award In BCBS Deal Is Unjust, High Court Told

    A member of the class that settled multidistrict litigation with Blue Cross Blue Shield for $2.67 billion over anti-competitive practices has asked the U.S. Supreme Court to take up his challenge to the $626 million attorney fees award in the settlement, arguing the Eleventh Circuit's approval of the award runs counter to high court precedent.

  • April 30, 2024

    FTC To Help FCC Enforce 'Net Neutrality' Rules

    The Federal Communications Commission has called on a sister agency, the Federal Trade Commission, to cooperate on enforcing the FCC's restored "net neutrality" rules to require the free flow of network traffic.

  • April 30, 2024

    FTC Continues To Target 'Junk' Drug Patents

    Federal trade officials told a series of pharmaceutical companies — including the makers of the controversial diabetes and weight loss drug Ozempic — that they may have listed faulty patents in a key register of a federal drug database.

  • April 30, 2024

    Pa. Schools Say Railcar Cos. Must Face Derailment Claims

    Pennsylvania school districts have told a federal judge that railcar companies cannot evade allegations they negligently shipped toxic chemicals in retrofitted tank cars during last year's Norfolk Southern derailment in East Palestine, Ohio, saying the environmental and health harms in their communities can be tied to the companies' conduct.

  • April 30, 2024

    10th Circ. Says Biden Can Raise Contractors' Minimum Wage

    President Joe Biden's minimum hourly wage increase for federal contractors to $15 is intertwined with furthering the economy and is therefore supported by the Procurement Act, a split Tenth Circuit panel ruled Tuesday, agreeing with a Colorado federal court to keep the wage bump.

  • April 30, 2024

    FTC Digging Into $2.3B Walmart-Vizio Deal

    The Federal Trade Commission wants information about Walmart's $2.3 billion plan to take over smart television maker Vizio before it decides whether to sign off on the controversial acquisition.

  • April 30, 2024

    Crypto Exec Denies $2B Laundering Charges, Is Out On Bail

    The CEO of crypto mixer Samourai Wallet has pled not guilty to charges he helped facilitate over $2 billion in illegal transactions and was released on $1 million bail after surrendering to federal authorities voluntarily.

Expert Analysis

  • Compliance Steps After ABA White Collar Crime Conference

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    Senior law enforcement officials’ statements this month at the American Bar Association's white collar crime conference suggest government enforcement efforts this year will increasingly focus on whistleblower incentives, artificial intelligence and data protection, and companies will need to update their compliance programs accordingly, say attorneys at Baker McKenzie.

  • Investment Advisers Should Prep For Money Laundering Regs

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    Investment advisers should prepare for a Financial Crimes Enforcement Network proposed rule that would significantly expand anti-money laundering and counter-financing of terrorism obligations by assessing illicit financing risks, and expect examiners to scrutinize unregistered advisers and those with certain foreign clients, say attorneys at Paul Weiss.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • What The NIL Negotiation Rules Injunction Means For NCAA

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    A Tennessee federal court's recent preliminary injunction reverses several prominent and well-established NCAA rules on negotiations with student-athletes over name, image and likeness compensation and shows that collegiate athletics is a profoundly unsettled legal environment, say attorneys at Pillsbury.

  • Md. May See Vigorous Resale Price Maintenance Enforcement

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    In Maryland, indications of a new focus on resale price maintenance agreements are significant because state prosecution in this area has been rare, particularly outside California, say attorneys at DLA Piper.

  • What 2 Years Of Ukraine-Russia Conflict Can Teach Cos.

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    A few key legal lessons for the global business community since Russia's invasion of Ukraine could help protect global commerce in times of future conflict, including how to respond to disparate trade restrictions and sanctions, navigate war-related contract disputes, and protect against heightened cybersecurity risks, say attorneys at Morgan Lewis.

  • Takeaways From EPA's New Methane Emission Rules

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    Attorneys at V&E examine two new Clean Air Act rules for the oil and gas industry, explaining how they expand methane and volatile organic compound emission reduction requirements and amplify U.S. Environmental Protection Agency enforcement risks.

  • EEOC Case Reminds That Men Can Also Claim Pay Bias

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    The Maryland State Highway Administration recently settled U.S. Equal Employment Opportunity Commission claims that a male employee was paid less than his female colleagues, highlighting why employers should not focus on a particular protected class when it comes to assessing pay bias risk, say Barbara Grandjean and Audrey Merkel at Husch Blackwell.

  • How AI May Be Used In Fintech Fraud — And Fraud Detection

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    Recent enforcement actions in the fintech and finance industries show that the government is increasingly pursuing fraud enabled by artificial intelligence — at the same time it’s using AI innovations to enforce regulations and investigate fraud, say attorneys at ArentFox Schiff.

  • Antitrust Enforcers' Views On Info Exchanges Are Evolving

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    As antitrust enforcers' views on information exchanges between competing companies have matured in response to technological advances, companies would do well to reconsider whether the exchanges in which they participate meet the most recent compliance benchmarks, say attorneys at Norton Rose.

  • Takeaways From NLRB Advice On 'Outside' Employment

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    Rebecca Leaf at Miles & Stockbridge examines a recent memo from the National Labor Relations Board’s Division of Advice that said it’s unlawful for employers to restrict secondary or outside employment, and explains what companies should know about the use of certain restrictive covenants going forward.

  • FARA Enforcement May Soon Be In The Halls Of Higher Ed

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    Given Congress’ increased attention to rising foreign influence on U.S. college campuses, the U.S. Department of Justice may soon turn the Foreign Agents Registration Act spotlight on educational institutions and groups, which will need to review their possible obligations under the statute, says Tessa Capeloto at Wiley.

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • How FinCEN Proposal Expands RE Transaction Obligations

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    Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.

  • The Epic Antitrust Cases And Challenges Of Injunctive Relief

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    The Epic cases against Apple and Google offer a window into the courts' considerable challenges in Big Tech litigation and establishing injunctive relief that enhances competition and benefits consumers, say Kelly Lear Nordby and Jon Tomlin at Ankura Consulting.

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