Compliance

  • May 14, 2024

    In Hot Seat, FDIC's Gruenberg Pledges 'Fundamental Change'

    Federal Deposit Insurance Corp. Chairman Martin Gruenberg will tell House lawmakers Wednesday that he is taking "full responsibility" for his agency's workplace misconduct scandal and eyeing "fundamental" structural reforms, striking a humbled but determined tone as he faces the first of two hearings that could be make-or-break for his job.

  • May 14, 2024

    Autonomy Overstated Revenue Before HP Sale, Jury Hears

    Autonomy's reported revenue was overstated by a combined $300 million in the two-and-a-half years before HP acquired it, an accounting expert testified Tuesday in a California criminal trial over claims that Autonomy founder Michael Lynch duped HP into buying his software company for an inflated $11.7 billion price.

  • May 14, 2024

    FINRA Official Calls Off-Channel Flags 'Shockingly Common'

    A Financial Industry Regulatory Authority official said Tuesday that firms often veer into issues with off-channel business communications thanks to what's on their representatives' business cards and email signatures, and that the biggest red flag of recordkeeping violations are the habits of firms' own leaders and managers.

  • May 14, 2024

    SEC Fines Adviser For Undisclosed Movie Financing Deal

    A wealth management firm and its founder will pay $950,000 in combined disgorgement and penalties to settle the SEC's claims they failed to disclose conflicts of interest regarding investments in a film production company and favored a certain client's redemption requests over others, according to an order issued Tuesday.

  • May 14, 2024

    DOJ Says Boeing Violated 737 Max Deferred Prosecution Deal

    Boeing breached its deferred prosecution agreement with the U.S. Department of Justice stemming from the deadly 737 Max 8 crashes, but the government hasn't yet decided whether it will criminally prosecute the American aerospace giant for defrauding regulators, the DOJ said in a Texas federal court filing Tuesday.

  • May 14, 2024

    5 Takeaways From FERC's Grid Planning Policy Overhaul

    The Federal Energy Regulatory Commission's sweeping revision of its regional transmission planning policies will completely transform how U.S. grid projects are planned and paid for, but the agency's muscular approach will invite plenty of compliance and legal challenges. Here are five key takeaways from the rule finalized by FERC on Monday.

  • May 14, 2024

    DOJ Search Case Unveils Google-Apple Pact, Consumers Say

    Private plaintiffs are asking for another crack at their antitrust suit accusing Google of entering illegal agreements to serve as the iPhone's default search engine, saying newly discovered contracts unearthed from the U.S. Department of Justice's ongoing case against the tech giant support a reconsideration.

  • May 14, 2024

    9th Circ. Denies Tribes, Enviro Groups' Power Line Stay Bid

    The Ninth Circuit has denied an emergency request by two Native American tribes and a couple of conservation groups to stay an Arizona federal judge's order that allows work to continue on a $10 billion power line.

  • May 14, 2024

    5th Circ. Expresses Doubt On Nasdaq Board Diversity Rules

    Lawyers for the U.S. Securities and Exchange Commission and Nasdaq Stock Market LLC faced a barrage of questions from the full Fifth Circuit on Tuesday, with judges wondering whether rules requiring corporations to disclose board diversity information would open the door to investor questions on religious practices, political beliefs or Taylor Swift fandom.

  • May 14, 2024

    Mich. Biz Attys Back State's Securities Fraud Enforcement Bid

    Members of Michigan's state bar association have urged the state's highest court to adopt a U.S. Supreme Court test for determining whether promissory notes are securities, in support of an effort by the state securities regulator to bring an enforcement action against a condominium developer accused of failing to pay back investors. 

  • May 14, 2024

    Ship Had Blackouts Day Before Baltimore Bridge Crash, NTSB Says

    A container carrier that slammed into Baltimore's Francis Scott Key Bridge and caused its collapse in March experienced two electrical outages during maintenance the day before it even left port, the National Transportation Safety Board said in a preliminary report Tuesday.

  • May 14, 2024

    Calif. City Sues Dow, Shell Over TCP-Tainted Water

    Dow Chemical and Shell USA are facing a negligence suit in California federal court by the city of Pomona, alleging the companies are responsible for manufacturing commercial products containing the toxic 1,2,3-trichloropropane that has migrated into the city's water supply and seeking to recoup costs over response efforts.

  • May 14, 2024

    RealPage, Landlords Look To Trim Ariz. Price-Fixing Case

    Rental algorithm company RealPage and several landlords have urged an Arizona state court to trim fraud claims from the attorney general's case accusing them of using software to illegally raise rents for hundreds of thousands of renters, and they also asked to limit the time frame for enforcers' antitrust claims.

  • May 14, 2024

    Telecoms Settle FCC Probe Into Undersea Cables For $2M

    Two telecoms will pay $1 million each to resolve a Federal Communications Commission probe into an undersea cable system that connected the U.S. with Colombia and Costa Rica without FCC approval.

  • May 14, 2024

    Wash. Biz Groups Say EPA Water Regs Impossible To Follow

    Washington state industry groups are urging a D.C. federal judge to strike down the U.S. Environmental Protection Agency's water quality standards for the state, claiming the federal agency based its calculations on historic tribal fish consumption rates and landed on pollution limits "so stringent that compliance cannot even be measured, much less achieved."

  • May 14, 2024

    Chamber Cautions FCC Against Making Anti-Arbitration Rules

    Business leaders told the Federal Communications Commission that it cannot bar wireless providers from requiring arbitration clauses with customers to resolve disputes arising from cellphone SIM card and port-out fraud.

  • May 14, 2024

    Tesla Sued By Enviro Group Over Air Pollution At Calif. Plant

    An environmental justice organization filed a citizen action against Tesla on Monday in California federal court alleging that the electric-car maker's plant in Northern California has spewed dangerous pollutants into the air for years and has failed to take sufficient precautions to prevent the emissions.

  • May 14, 2024

    FTC Cleared To Sue Texas Anesthesia Co., But Not PE Firm

    A Texas federal judge highlighted the limits of the Federal Trade Commission's ability to go after private equity firms accused of anti-competitive "roll-up" strategies, tossing antitrust claims against a private equity firm while preserving monopolization allegations against the anesthesia group the firm created.

  • May 14, 2024

    Data Co. Workers Had No Power Over Scam Clients, Jury Told

    Lawyers for two former Epsilon Data Management employees told a Colorado federal jury Tuesday they weren't responsible for selling consumer data to phony sweepstakes and other Epsilon clients, arguing they were just following orders from executives who made the deals.

  • May 14, 2024

    NIST Finalizes Revised Security Guidelines For Sensitive Info

    The National Institute of Standards and Technology on Tuesday released a final version of revised guidelines for contractors and other entities who handle sensitive unclassified federal information, intended to clarify and streamline those requirements.

  • May 14, 2024

    A Fifth Of Big Cos. Use Tax Transparency Standard, Org. Says

    About a fifth of the largest 1,000 public companies worldwide have voluntarily used a public country-by-country reporting standard created by an international independent standards organization, the nonprofit said Tuesday.

  • May 14, 2024

    Mich. AG Says Eli Lilly 'Cherry-Picking' Enforcement Data

    Michigan's attorney general has hit back against Eli Lilly's arguments that recent consumer protection law recoveries show her office is not being hampered in its investigations, as she seeks subpoenas in a probe of the pharmaceutical giant's pricing for an insulin drug.

  • May 14, 2024

    Amazon Rips 'Misleading' Claims Execs Destroyed Evidence

    Amazon on Monday opposed the Federal Trade Commission's and state attorneys generals' allegations that founder Jeff Bezos and other executives used the encrypted app Signal to destroy evidence in their high-stakes Washington federal court antitrust fight, arguing that the executives' use of the app is legitimate and that the plaintiffs' motion is "misleading."

  • May 14, 2024

    States, Elec. Co-Op Seek To Block EPA Power Plant GHG Rule

    A group of 25 red states and the National Rural Electric Cooperative Association asked the D.C. Circuit to block the U.S. Environmental Protection Agency from implementing its new power plant greenhouse gas emissions rule while they challenge its legality.

  • May 14, 2024

    DC Circ. Upholds EPA's Renewable Fuel Standards

    A divided D.C. Circuit panel upheld on Tuesday the U.S. Environmental Protection Agency's renewable fuel standards for 2020, 2021 and 2022, rejecting renewable fuel producers' claims the standards are too low, and petroleum refiners' contentions that they are too high.

Expert Analysis

  • Breaking Down EEOC's Final Rule To Implement The PWFA

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    Attorneys at Littler highlight some of the key provisions of the U.S. Equal Employment Opportunity Commission's final rule and interpretive guidance implementing the Pregnant Workers Fairness Act, which is expected to be effective June 18, and departures from the proposed rule issued in August 2023.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

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    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Tips For Balanced Board Oversight After A Cyberincident

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    The U.S. Securities and Exchange Commission's cybersecurity disclosure rules, as well as recent regulatory enforcement actions bringing board governance under scrutiny, continue to push boards toward active engagement in relation to their cyber-oversight role, despite it being unclear what a board's level of involvement should be, say attorneys at Alston & Bird.

  • 9th Circ. Ruling Puts Teeth Into Mental Health Parity Claims

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    In its recent finding that UnitedHealth applied an excessively strict review process for substance use disorder treatment claims, the Ninth Circuit provided guidance on how to plead a Mental Health Parity and Addiction Equity Act violation and took a step toward achieving mental health parity in healthcare, says Mark DeBofsky at DeBofsky Law.

  • Breaking Down DOJ's Individual Self-Disclosure Pilot Program

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    The U.S. Department of Justice’s recently announced pilot program aims to incentivize individuals to voluntarily self-disclose corporate misconduct they were personally involved in, complementing a new whistleblower pilot program for individuals not involved in misconduct as well as the government's broader corporate enforcement approach, say attorneys at Paul Weiss.

  • Cos. Must Prepare For Calif. Legislation That Would Ban PFAS

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    Pending California legislation that would ban the sale or distribution of new products containing intentionally added per- and polyfluoroalkyl substances could affect thousands of businesses — and given the bill's expected passage, and its draconian enforcement regime, companies must act now to prepare for it, say attorneys at Alston & Bird.

  • How To Prepare As Employee Data Reporting Deadlines Near

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    As filing deadlines approach, government contractors and private companies alike should familiarize themselves with recent changes to federal and California employee data reporting requirements and think strategically about registration of affirmative action plans to minimize the risk of being audited, say Christopher Durham and Zev Grumet-Morris at Duane Morris.

  • Address Complainants Before They Become Whistleblowers

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    A New York federal court's dismissal of a whistleblower retaliation claim against HSBC Securities last month indicates that ignored complaints to management combined with financial incentives from regulators create the perfect conditions for a concerned and disgruntled employee to make the jump to federal whistleblower, say attorneys at Cooley.

  • Ensuring Nonpublic Info Stays Private Amid SEC Crackdown

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    Companies and individuals must take steps to ensure material nonpublic information remains confidential while working outside the office, as the U.S. Securities and Exchange Commission continues to take enforcement actions against those who trade on MNPI and don't comply with new off-channel communications rules in the remote work era, say attorneys at BakerHostetler.

  • What Cos. Are Reporting Under New SEC Cybersecurity Rule

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    Four months after its effective date, 14 companies have made disclosures under the U.S. Securities and Exchange Commission's mandatory cybersecurity incident reporting rule, and some early trends are emerging, including a possible rush to file, say attorneys at Debevoise.

  • 10 Tips For ESG Disclosure Compliance In Private Funds

    Excerpt from Practical Guidance
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    As regulators increase scrutiny of misleading claims about environmental, social and governance investments, private fund sponsors should consider several practical tips for communicating accurately with potential investors, drafting comprehensive disclosures and establishing internal policies that can keep pace with evolving compliance requirements, says Jonathan Rash at Ropes & Gray.

  • Proactive Strategies Can Reduce Truck Cos.' Accident Liability

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    The legal complications of trucking accidents can be grave — so transportation companies and their attorneys should implement proactive strategies that include driver safety programs, pre-accident legal counseling, electronic monitoring and attorney involvement at crash scenes, says Mandy Kolodkin at Segal McCambridge.

  • What's In OCC's Proposed Freedom Of Information Act Update

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    In this article, Christine Docherty at Goodwin discusses the Office of the Comptroller of the Currency's proposed amendments to its regulations implementing the Freedom of Information Act, and how these changes might align with guidance from other regulators.

  • Assigning Liability In Key Bridge Collapse May Be Challenging

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    In the wake of a cargo ship's collision with Baltimore's Key Bridge last month, claimants may focus on the vessel's owners and the agencies responsible for the design and maintenance of the bridge — but allocating legal liability to either private or governmental entities may be difficult under applicable state and federal laws, says Clay Robbins at Wisner Baum.

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