Compliance

  • February 21, 2024

    Crypto Law Firm Invokes Coinbase Petition In SEC Challenge

    Crypto-focused law firm Hodl Law PLLC told the Ninth Circuit on Wednesday that its standing to sue the U.S. Securities and Exchange Commission over its crypto policy is undeniable now that the agency has decided not to take up a rulemaking petition from crypto exchange Coinbase.

  • February 21, 2024

    FTC Says Twitter Staff Prevented Musk Violating Privacy Order

    The Federal Trade Commission told the House Judiciary Committee on Wednesday that were it not for Twitter employees disobeying Elon Musk's orders to grant some reporters "full access to everything ... no limits at all" to the social media platform's systems, the company may have violated a 2022 FTC consent decree.

  • February 21, 2024

    Hospital Debt Collector To Pay $1M To End Wash. AG's Claims

    Debt collector Harris & Harris has agreed to shell out $1 million to resolve allegations that it collected medical debt payments from tens of thousands of Washington state patients without disclosing that they might qualify for financial assistance, according to a consent decree filed in state court on Wednesday.

  • February 21, 2024

    OCC's Hsu Floats Payments, PE 'Trip Wires' For FSOC Review

    The Office of the Comptroller of the Currency's acting chief sounded an alarm Wednesday about the growth of digital payments and private equity, saying federal regulators should consider setting numerical "trip wires" around those activities to stay ahead of potential financial stability risks.

  • February 21, 2024

    9th Circ. Says Federal Coal Lease Ban Case 'Is Moot'

    A Ninth Circuit panel on Wednesday vacated and remanded a district court's ruling that had reinstated a 2016 moratorium on federal coal leasing, with a recommendation that the litigation be dismissed as moot, saying there's no basis to conclude that a challenge to a defunct order is still alive.

  • February 21, 2024

    Cannabis CEOs Wasted Wealthy Russian's Money, Suit Claims

    Two California businessmen who were given $145 million by a now dead Russian billionaire to begin cannabis growing operations in the state are accused of gross mismanagement and squandering his investment, according to a lawsuit filed in Los Angeles County court.

  • February 21, 2024

    Former Exec Convicted Of Medtronic Insider Trading Scheme

    A Minneapolis man who tipped off a friend about his employer's secret negotiations on a $1.6 billion acquisition deal with medical device company Medtronic has been convicted of securities fraud and conspiring to commit insider trading, the Minnesota U.S. Attorney's Office has announced.

  • February 21, 2024

    FDA Let Pharma Co. 'Sidestep' Application Rules, Court Told

    The Food and Drug Administration has been hit with a suit alleging it wrongly allowed a drugmaker to expand the scope of its application to market a generic version of a blockbuster pulmonary hypertension drug.

  • February 21, 2024

    ByteDance Can't Arbitrate Ex-Coder's Wrongful Firing Suit

    A California federal judge declined to send a former ByteDance Inc. engineer's wrongful termination suit to arbitration, writing in a ruling made public Tuesday that there are factual disputes over whether he signed employment agreements containing arbitration clauses, saying the matter should be resolved via a jury trial.

  • February 21, 2024

    Boeing Supplier Slams Investor Suit Over 737 Max Parts

    Spirit AeroSystems Holdings Inc. has asked a New York federal court to dump proposed class allegations that it misled investors by failing to disclose pervasive quality problems and a documented history of supplying its chief customer, Boeing, with defective plane parts.

  • February 21, 2024

    Justices Squabble Over Emergency Review Of EPA Smog Plan

    The U.S. Supreme Court's liberal wing denounced during oral argument Wednesday their colleagues' decision to consider the merits of four related emergency requests to prevent the U.S. Environmental Protection Agency from implementing a plan to reduce cross-state pollution without first getting lower court input.

  • February 21, 2024

    4th Circ. Tosses Migrant Bond Co.'s CFPB Funding Challenge

    The Fourth Circuit on Wednesday dismissed an appeal from an immigrant bond service company being sued by the Consumer Financial Protection Bureau for allegedly running a predatory scheme, finding that the court has no appellate jurisdiction over the litigation.

  • February 21, 2024

    PE Firm Can't Shake Ex-CEO's Retaliation Suit In NC

    A North Carolina federal judge has maintained the bulk of a former executive's suit accusing a private equity firm of duping him into accepting a top role at a defense supply unit and firing him when he refused to hide the company's financial reality from a major defense contractor client, reasoning that he satisfied pleading standards.

  • February 21, 2024

    SPAC Boom Costs Auditor $2M In PCAOB Fine

    New Jersey-based auditing firm WithumSmith+Brown PC was sanctioned with a $2 million fine Wednesday by the Public Company Accounting Oversight Board, which accused the company of taking on more work than it could handle as the market for special purpose acquisition companies boomed.

  • February 21, 2024

    Tesla, Musk Say Investors' Self-Driving Fraud Suit Is Doomed

    Attorneys for electric-car maker Tesla and its owner, Elon Musk, have said a proposed class action related to claims the company and billionaire had made about the vehicles' autonomous driving abilities should be dismissed, saying most of the statements at issue were forward-looking.

  • February 21, 2024

    FCC Considers Adding Missing Persons To Emergency Alerts

    The Federal Communications Commission plans to introduce a new code to the Emergency Alert System to allow information about missing or endangered persons to be widely disseminated.

  • February 21, 2024

    Conn. Court Pauses Refund Plan For Ex-Nursing Students

    Over the objections of the Connecticut attorney general, a judge has temporarily halted a state agency's plan to refund some tuition money that students paid to the now-shuttered nursing school Stone Academy, siding with a proposed class of affected students who want to avoid waiving their legal rights in order to receive the payments.

  • February 21, 2024

    FCC Looks To Finalize 'All-In' Cable Pricing Disclosures

    The Federal Communications Commission plans to vote next month on controversial rules to require cable companies to post "all-in" prices on marketing materials and subscriber bills.

  • February 21, 2024

    Boeing Ousts Head Of Embattled 737 Max Program

    Boeing on Wednesday replaced the chief of its 737 Max program as the American aerospace giant rejiggers the executive team overseeing its most popular line of jets after high-profile safety mishaps such as last month's midair panel blowout and two deadly crashes overseas five years ago.

  • February 21, 2024

    AT&T Says Satellite Cell Coverage Must Rely On Leases

    The Federal Communications Commission will soon vote on new rules allowing satellite companies to use spectrum to beef up mobile connectivity, helping eliminate "dead zones."

  • February 21, 2024

    No Property Coverage For Maui Wildfire, Insurer Says

    A condominium association and its property manager have no coverage for property damage claims stemming from the 2023 Maui wildfires, their insurer told a Hawaii federal court, arguing that a property damage exclusion in their errors and omissions policy wholly bars coverage.

  • February 21, 2024

    Calif. AG Settles With DoorDash Over Marketing Data Sale

    DoorDash will pay $375,000 to resolve the California attorney general's claims that the food delivery service violated the state's landmark consumer privacy law by failing to clearly inform users of their ability to opt out of the sale of their personal information to a marketing vendor, the agency announced Wednesday.

  • February 21, 2024

    White & Case Lateral Spree Includes SEC Atty, 2 M&A Leaders

    White & Case LLP said it has hired three notable lateral partners, adding a cryptocurrency and cybersecurity specialist from the U.S. Securities and Exchange Commission, as well as former practice heads within the mergers and acquisitions realm from Paul Hastings LLP and Hogan Lovells.

  • February 20, 2024

    Liberal Justices Hint Chevron Deference Hanging By A Thread

    In the U.S. Supreme Court's latest battle royal over administrative powers, left-leaning justices at oral arguments Tuesday openly suggested that the landmark legal doctrine underpinning modern rulemaking might soon shrivel up, clearing the way for industry-led challenges to regulations on the books for decades.

  • February 20, 2024

    SEC Zeroes In On SolarWinds Exec In Revised Complaint

    The U.S. Securities and Exchange Commission has doubled down on its case accusing software provider SolarWinds Corp. of failing to warn the public about the cybersecurity vulnerabilities that gave rise to a 2020 hack, providing a New York federal court with more detail about the involvement of the company's chief information security officer in the alleged cover-up.

Expert Analysis

  • Amazon's €32M Data Protection Fine Acts As Employer Caveat

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    The recent decision by French data privacy regulator CNIL to fine Amazon for excessive surveillance of its workers opens up a raft of potential employment law, data protection and breach of contract issues, and offers a clear warning that companies need coherent justification for monitoring employees, say Robert Smedley and William Richmond-Coggan at Freeths.

  • Expediting Psychedelics Approvals In The EU, UK, Australia

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    Accelerated pathways for regulatory approvals for psychedelic drugs in the European Union, U.K. and Australia is indispensable to facilitate a seamless advancement of treatments from the research environment to the consumer, say Kimberly Chew at Husch Blackwell, and Ana Dukic and Sabrina Ramkellawan at AxialBridge.

  • Assessing Merger Guideline Feedback With Machine Learning

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    Large language modeling appears to show that public sentiment matches agency intent around the new merger control guidelines from the Federal Trade Commission and U.S. Justice Department, says Andrew Sfekas at Cornerstone Research.

  • The FINRA Reports That May Foreshadow New AI Rules

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    By reading the Financial Industry Regulatory Authority’s 2024 annual report detailing the regulatory implications of artificial intelligence tools alongside a similar 2020 FINRA publication, member firms may be able to anticipate which industry areas may soon face AI-specific regulations, say attorneys at Mintz.

  • Opinion

    Vidal Should Amend USPTO Precedent In Automaker Review

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    U.S. Patent and Trademark Office Director Kathi Vidal's recent decision to review Ford and Honda patent challenges that were rejected by the Patent Trial and Appeal Board provides an opportunity to revisit precedents that have unfairly denied companies a fair review process and align them with commonsense principles of legal equity, says former Sen. Patrick Leahy.

  • Vagueness In Calif. Climate Law Makes Compliance Tricky

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    California's recently enacted Voluntary Carbon Market Disclosures Act requires companies making claims of carbon neutrality, or significant greenhouse gas emissions reductions, to disclose information supporting those claims — but vague and conflicting language in the statute poses multiple problems for businesses, say John Rousakis and Chris Bowman at O'Melveny.

  • Grant Compliance Takeaways From Ga. Tech's FCA Settlement

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    Georgia Tech’s recent False Claims Act settlement over its failure to detect compliance shortcomings in a grant program was unique in that it involved a voluntary repayment of funds prior to the resolution, offering a few key lessons for universities receiving research funding from the government, says Jonathan Porter at Husch Blackwell.

  • Series

    Competing In Dressage Makes Me A Better Lawyer

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    My lifelong participation in the sport of dressage — often called ballet on horses — has proven that several skills developed through training and competition are transferable to legal work, especially the ability to harness focus, persistence and versatility when negotiating a deal, says Stephanie Coco at V&E.

  • What Financial Cos. Must Know For Handling T+1 Settlements

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    The U.S. Securities and Exchange Commission has adopted a groundbreaking new T+1 settlement rule for securities transactions in order to improve market efficiency — but it presents significant challenges for the financial services industry, especially private equity firms, hedge funds and institutional asset managers, says Adam Weiss at Petra Funds Group.

  • Breaking Down FDIC's New Advertising And Signage Rule

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    The Federal Deposit Insurance Corp.’s final rule on signage and advertising, coming on the heels of a campaign against nonbank businesses purporting to offer FDIC-insured deposit products, introduces important new requirements and clarifies existing regulations for both traditional depository institutions and novel digital platforms, say attorneys at Venable.

  • What Cos. Evaluating M&A Can Glean From Latest HSR Report

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    The recently released Hart-Scott-Rodino report for fiscal year 2022 helps unearth important data points for companies as they evaluate potential transactions, including that, despite a historically low enforcement rate, the number of actions exceeds the number of second requests for the first time in nearly 20 years, say Ryan Quillian and John Kendrick at Covington.

  • Legal Issues Loom For Driverless Trucking

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    Companies' recent experiments with driverless trucking technology herald a transformation of the logistics sector — but stakeholders must reckon with increasing regulatory scrutiny, emerging liability issues, and concerns around ethical guidelines, insurance and standardization, say Zal Phiroz at Pier Consulting Group and Nicolas Bezada at Unishippers.

  • How 2 CFPB Advisory Opinions Affect Reporting Agencies

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    The Consumer Financial Protection Bureau issued two advisory opinions last month that demonstrate a continued commitment to address inaccuracies in background check reports and consumer file disclosures through broad interpretation of the Fair Credit Reporting Act, expanding on a coordinated federal agency effort, say attorneys at Cooley.

  • A Close Look At The FCC's Revised SIM Card Fraud Rules

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    Carolyn Mahoney and John Seiver at Davis Wright break down recently proposed revisions to the Federal Communications Commission's customer proprietary network information and local number portability rules for wireless providers, discuss the revisions' implications on artificial intelligence regulation, and provide tips to prevent SIM swap and port-out fraud.

  • CFTC Moves May Boost Interest In Voluntary Carbon Markets

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    As companies try to reduce their net greenhouse gas emissions, many have been cautious about embracing voluntary carbon credit markets — but recent moves by the U.S. Commodity Futures Trading Commission to regulate this sector may address some of its well-known challenges, say Deborah North and Laura Daugherty at Cleary.

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