Expert Analysis

• The Shifting Landscape Of Securities Class Action Fees

  

  An analysis of recently settled cases shows that in addition to the settlement size, plaintiffs counsel in securities class actions appear to be rewarded for good settlement outcomes relative to a statistical prediction, with certain outcomes for the motion to dismiss and motion for class certification also affecting attorney fees awarded, says Edward Flores at NERA Economic Consulting.

• Reverse Proffers In Federal Criminal Cases Can Be A Win-Win

  

  The increasingly popular reverse proffer — in which prosecutors disclose evidence to targets of a criminal investigation — can help the government test its case and persuade witnesses to cooperate, and can help defendants sharpen their strategies and obtain favorable deals by choosing to cooperate, say Jeffrey Martino and Byron Tuyay at Baker McKenzie.

• The SEC's Cooled Down But Still Spicy Private Fund Rules

  

  Timothy Spangler and Lindsay Trapp at Dechert consider recently finalized U.S. Securities and Exchange Commission rules, which significantly alter the scope of obligations private fund advisers must meet under the Investment Advisers Act, noting the absence of several contentious proposals and litigation that could result in implementation delays.

• Breaking Down High Court's New Code Of Conduct

  

  The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

• High Court's Chevron Review May Be A Crypto Game-Changer

  

  The outcome of the U.S. Supreme Court's review of the Chevron doctrine in its pending Loper v. Raimondo case will potentially usher in a paradigm shift in cryptocurrency regulation, challenging agency authority and raising hopes for a recalibrated approach that favors judicial interpretation, says Sylvia Favretto at Mysten Labs.

• Opinion

  Legal Profession Gender Parity Requires Equal Parental Leave

  

  To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

• Opinion

  Activist Short-Sellers Are The Dark Knights Of Wall Street

  

  While so-called activist short-sellers have been subject to increased scrutiny in recent years, these investors work in the shadows like Batman to expose fraud on Wall Street, often generating leads that may move regulators to take action, say attorneys at Labaton Sucharow.

• 9th Circ. Ruling May Expand Short-Swing Profit Exemption

  

  The Ninth Circuit’s recent dismissal of a shareholder derivative suit in Roth v. Foris Ventures LLC provides boards of directors with greater latitude to approve certain securities transactions under the the Securities Exchange Act’s Section 16(b) short-swing profits rule, say John Stigi and John Mysliwiec at Sheppard Mullin.

• New Regs Will Strengthen Voluntary Carbon Offset Market

  

  Voluntary carbon offsets are a vital tool for organizations seeking to achieve net-zero greenhouse gas emissions — and recent efforts by the U.S. Commodity Futures Trading Commission, the U.S. Department of Agriculture, the state of California and others are essential to enhancing the reliability and authenticity of carbon credits, says David Smith at Manatt.

• How FinCEN's Proposed Rule Stirs The Pot On Crypto Mixing

  

  The Financial Crimes Enforcement Network’s recently issued proposal aims to impose additional reporting requirements to mitigate the risks posed by convertible virtual currency mixing transactions, meaning financial institutions may need new monitoring techniques to detect CVC mixing beyond just exposure, say Jared Johnson and Jordan Yeagley at Buchanan Ingersoll.

• Series

  Writing Thriller Novels Makes Me A Better Lawyer

  

  Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

• What Lawyers Must Know About Calif. State Bar's AI Guidance

  

  Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.

• Industry Must Elevate Native American Women Attys' Stories

  

  The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.

• Crypto, Audit Cases Dominate SEC's Enforcement Focus In '23

  

  Attorneys at Covington examine the U.S. Securities and Exchange Commission's fiscal year 2023 enforcement results, which marked the SEC's third consecutive year of increasing enforcement activity since Chair Gary Gensler took over in 2021 — this time driven by a focus on combating cryptocurrency-related scams and enforcing recordkeeping compliance.

• New York Cybersecurity Amendments Raise Regulatory Bar

  

  Financial service providers both in and outside New York should study recent changes to the state financial regulator's cybersecurity requirements, which add governance controls, technical safeguards and incident response protocols to improve what is already becoming the national benchmark for robust cybersecurity compliance programs, say attorneys at Baker McKenzie.