Compliance

  • February 23, 2024

    Commerce Dept. Partly Waives 'Buy America' For BEAD

    The U.S. Department of Commerce on Friday announced limited waivers from "Buy America" requirements under the agency's $42.5 billion broadband deployment program to make sure that enough advanced components can flow to projects around the country.

  • February 23, 2024

    Judge Won't Reschedule Google's Ad Tech Trial In Va.

    A Virginia federal judge refused a request from Google on Friday to reschedule a slated September trial for the U.S. Department of Justice's ad tech monopolization case, saying the tech giant can overcome a potential timing conflict for its attorneys.

  • February 23, 2024

    BofA Seeks Win In Pa. Vehicle Repossession Class Action

    Bank of America NA has asked a Pennsylvania federal judge to grant it a win in a suit alleging it sent inadequate notice letters to people whose cars it repossessed, arguing that because the car owners admit the notices did not affect their ability to redeem their vehicles, there is no genuine issue in the case.

  • February 23, 2024

    Kraken Wants SEC Suit Tossed, Says Tokens Aren't Securities

    Crypto exchange Kraken on Friday urged a California federal judge to permanently toss claims it failed to register its platform with the U.S. Securities and Exchange Commission since the regulator has not shown that the tokens on its platform are investment contracts.

  • February 23, 2024

    FDIC Slaps Small Tenn. Bank With Fintech Oversight Order

    The Federal Deposit Insurance Corp. on Friday announced a consent order with a small Tennessee bank that stresses the risks of the bank's relationships with third-party fintech companies.

  • February 23, 2024

    NRA, LaPierre Found Liable For Misconduct In $6M Verdict

    A New York jury found Friday that the National Rifle Association, longtime CEO Wayne LaPierre and two other executives improperly used donor money, among other misconduct, ordering individual defendants to repay the gun rights group a total of $6.4 million.

  • February 23, 2024

    Binance Judge Says Greed Overtook Ethics, OKs $4.3B Plea

    A Washington federal judge signed off Friday on Binance's $4.3 billion plea deal on money laundering and bank fraud charges, saying from the bench that the cryptocurrency exchange's ethics violations could not be explained away by mere ignorance. 

  • February 23, 2024

    Ohio Chamber Backs Google In 'Common Carrier' Case

    Ohio's Chamber of Commerce is lining up behind tech behemoth Google in its battle to convince an Ohio court that it is not a common carrier while the state is trying to convince the court that Google is, so it may be banned from preferring its own products in its search results.

  • February 23, 2024

    Feds' Crypto Focus Is No Longer On 'Whack-A-Mole' Cases

    The U.S. Department of Justice is no longer playing "whack-a-mole" in its crypto cases, and instead is taking on large-scale actors in the hopes of encouraging industrywide compliance, veteran crypto-focused prosecutors with the Manhattan U.S. attorney's office said Friday.

  • February 23, 2024

    Insurance M&A Partner From Sidley Joins Kirkland

    Kirkland & Ellis LLP has added a corporate partner in its insurance transactions and regulatory and financial institutions practice groups, bringing on a former Sidley Austin LLP attorney who said he "couldn't be more excited" to join the firm's Chicago office.

  • February 23, 2024

    With Interest, Trump Now Owes $454M For NY Valuation Fraud

    Donald Trump owes New York state nearly a half billion dollars after a county clerk on Friday tacked on $99 million in interest linked to a $355 million judgment in the state attorney general's civil fraud case against the former president last week.

  • February 23, 2024

    Ex-Vitol Oil Trader Convicted On FCPA Rap

    Former Vitol Oil Group trader Javier Aguilar was convicted Friday of Foreign Corrupt Practices Act and money laundering violations, after nearly two months of trial over claims that he bribed officials in Ecuador and Mexico in order to win $500 million in business deals for the global energy and commodities company.

  • February 23, 2024

    OCC Names Acting Chief Counsel As Top Lawyer Nears Exit

    The Office of the Comptroller of the Currency said Friday that its chief counsel will soon depart, creating a vacancy that will be filled temporarily by an agency veteran until a permanent replacement is lined up.

  • February 23, 2024

    Texas Says EPA Unfairly Changed Ozone Plan Rules

    The state of Texas this week urged the Fifth Circuit to upend the U.S. Environmental Protection Agency's denial of its revised plan to control ozone in the Dallas and Houston metropolitan areas, saying the agency rejected the plan based on standards put in place after it was submitted.

  • February 23, 2024

    Motorola, Mass. Police Sued For Using Intercepting Devices

    Motorola sold technology that let the Massachusetts State Police make illegal, warrantless recordings during investigations, according to a federal class action filed by four men claiming to be subjects of the secret recordings.

  • February 22, 2024

    BofA Card Holders Fight Uphill To Save Interest Charge Suit

    A California federal judge appeared inclined to toss a proposed class action claiming Bank of America illegally imposes excessive interest charges on variable-rate credit card holders, asking during a hearing Thursday if the plaintiff's counsel could "bolster" the complaint if the bank's motion to dismiss were granted.

  • February 22, 2024

    Russian Pleads Guilty, 3 Indicted In $150M Laundering Scheme

    A federal grand jury in Atlanta has indicted Moscow-based consulting firm KSK Group and two of its employees for conspiring with a Russian man who pled guilty this month to operating an unlicensed money-transmitting business.

  • February 22, 2024

    Ex-BP Exec's Husband Cops To $1.7M Insider Trading

    The husband of a former manager at British oil and gas company BP PLC on Thursday pled guilty to securities fraud in Texas federal court and agreed to forfeit the $1.7 million he made with the help of insider trading, the U.S. Department of Justice said Thursday.

  • February 22, 2024

    Ex-Vitol Trader Denies Knowing Of Bribes, As Trial Nears End

    Counsel for a former Vitol Group executive told a New York federal jury in closing arguments Thursday that his client wasn't aware of bribes being paid to officials in Ecuador and Mexico in order to obtain $500 million in state contracts, while a prosecutor insisted that the former oil trader was the linchpin to the corruption scheme.

  • February 22, 2024

    BofA Pulling Fast One To Exit Gag Clause Suit, Customers Say

    Consumers suing Bank of America for allegedly trying to stifle consumer critics through clauses in its online service agreements have urged a California federal judge not to toss their suit, arguing the bank's dismissal arguments are without legal merit, factually incorrect and "intended to mislead."

  • February 22, 2024

    SEC Won't Force BofA To Act On ESG Critic's Proxy Proposal

    A division of the U.S. Securities and Exchange Commission has said it wouldn't recommend enforcement action against Bank of America for excluding a climate-related shareholder request from its upcoming proxy statement, while the division rejected Pfizer's request to exclude a shareholder proposal on human rights from its proxy statement.

  • February 22, 2024

    Texas Developer Battles DOJ's 1st Predatory Mortgages Suit

    A Texas land developer is fighting back against a high-profile predatory lending lawsuit filed by the U.S. Department of Justice and Consumer Financial Protection Bureau, telling a Houston federal judge that the government's "reverse redlining" theory isn't legally sound and relies on sloppy loan comparisons.

  • February 22, 2024

    Wash. AG Seeks $1.2M In Damages For Debt Collector's Errors

    A debt collection company should pay more than $1.2 million after it "didn't even come close to complying with the law" while recovering medical debt payments for a hospital in Washington, the state attorney general's office told a judge during a bench trial Thursday.

  • February 22, 2024

    Penny Stock Co. CEO Must Pay $473K Over Fraud Claims

    A Connecticut federal judge granted in part the U.S. Securities and Exchange Commission's motion for final judgment in a securities fraud suit against the CEO of a penny stock company, finding that a less severe punishment than requested is appropriate due to the CEO's financial situation.

  • February 22, 2024

    Lawmakers Press Big Banks On Muslim Discrimination Claims

    A group of five Democratic lawmakers on Thursday pressured the leaders of JPMorgan Chase, Bank of America, Wells Fargo and Citibank for information on how they work to prevent discrimination in banking, pointing to media reports of "de-risking" practices that target Muslim Americans.

Expert Analysis

  • Key Maritime Law Issues In 2024: Election-Year Unknowns

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    In the final installment of this three-part article reviewing the top challenges for the maritime industry this year, Sean Pribyl at Holland & Knight examines how the uncertainty surrounding the forthcoming U.S. election may affect the maritime sector — especially companies involved in offshore wind and deep-sea mining.

  • The Legal Industry Needs A Cybersecurity Paradigm Shift

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    As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.

  • UK Court Ruling Reinforces CMA's Info-Gathering Powers

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    An English appeals court's recent decision in the BMW and Volkswagen antitrust cases affirmed that the U.K. Competition and Markets Authority can request information from entities outside the U.K., reinstating an important implement in the CMA's investigative toolkit, say lawyers at White & Case.

  • Key Maritime Law Issues In 2024: Environmental Challenges

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    In the second installment of this three-part article examining key concerns for the maritime sector this year, Sean Pribyl at Holland & Knight considers how the industry will be affected by environmental concerns — including the growing push for decarbonization, and regulatory scrutiny around greenwashing and ESG issues.

  • The State Of Play In NIL, Compensation For Student-Athletes

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    Recent NCAA developments — including name, image, and likeness legislation and a governance and compensation proposal — reflect a shift from the initial hands-off approach to student-athletes' NIL deals and an effort to allow colleges to directly compensate student-athletes without categorizing them as employees, say attorneys at Pillsbury.

  • As Promised, IRS Is Coming For Crypto Tax Evaders

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    The IRS is fulfilling its promise to crack down on those who have neglected to pay taxes on cryptocurrency earnings, as demonstrated by recently imposed prison sentences, enforcement initiatives and meetings with international counterparts — suggesting a few key takeaways for taxpayer compliance, say attorneys at BakerHostetler.

  • 5 Reasons Associates Shouldn't Take A Job Just For Money

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    As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.

  • SEC Registrants Likely Won't Get Cyber Disclosure Delays

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    The U.S. Securities and Exchange Commission's sweeping cybersecurity disclosure final rules, its SolarWinds enforcement action and recent U.S. Department of Justice guidance show the pressure is on registrants to disclose incidents timely and accurately, but the circumstances in which an extension will be granted are extremely rare, say attorneys at Pillsbury.

  • Following Banking Regulators' Breadcrumbs To 2024 Priorities

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    Through blog posts, speeches, and formal guidance and regulations, prudential and other federal and state financial regulators laid out a road map last year pointing to compliance priorities that should be reflected in financial institutions' planning this year, say Laurel Loomis Rimon and Gina Shabana at Jenner & Block.

  • How Biotech Deals May Help Competition, Despite FTC View

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    The Federal Trade Commission's complaint against Sanofi's proposed partnership with Maze Therapeutics highlights increasing skepticism of so-called killer acquisitions, but a closer look reveals potentially legitimate reasons behind why entities might decide to delay or abandon the development of acquired products, say consultants at Analysis Group.

  • Expediting Psychedelics Approvals In The US And Canada

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    Accelerated regulatory pathways for psychedelics in the U.S. and Canada play a pivotal role in the progression of drugs, devices and novel therapies toward commercialization, say Kimberly Chew at Husch Blackwell, and Ana Dukic and Sabrina Ramkellawan at AxialBridge.

  • Key Maritime Law Issues In 2024: Geopolitics And Sanctions

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    Major challenges are on the horizon for the U.S. maritime sector in 2024, including geopolitical tensions in the Red Sea and ever-evolving sanctions targeting Iran and Russia — which may lead to higher shipping costs and greater compliance burdens for stakeholders, says Sean Pribyl at Holland & Knight.

  • New SDNY Whistleblower Program May Be A Game-Changer

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    A new pilot program in the U.S. Attorney’s Office for the Southern District of New York promises to immunize from prosecution certain individuals who blow the whistle on financial crimes and corruption, and if similar self-disclosure programs are any indication, this significant new policy may measurably increase white collar investigations, say attorneys at Paul Hastings.

  • Directors And Officers Face Unique AI-Related Risks

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    As privacy, intellectual property and discrimination lawsuits focusing on artificial intelligence increase, corporate directors and officers must stay aware of associated risks, including those related to compliance, litigation and cybersecurity, says Jonathan Meer at Wilson Elser.

  • Series

    Playing Competitive Tennis Makes Me A Better Lawyer

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    My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.

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