Expert Analysis

• A Look At Project Crypto's Plans For Digital Asset Regulation

  

  U.S. Securities and Exchange Commission Chairman Paul Atkins' recent announcement of Project Crypto, an agencywide initiative to modernize federal securities regulations, signals a significant shift toward a more flexible regulatory framework that would shape the future of the U.S. digital asset market, say attorneys at WilmerHale.

• Series

  Painting Makes Me A Better Lawyer

  

  Painting trains me to see both the fine detail and the whole composition at once, enabling me to identify friction points while keeping sight of a client's bigger vision, but the most significant lesson I've brought to my legal work has been the value of originality, says Jana Gouchev at Gouchev Law.

• NY AML Rules Get Crypto Rebrand: What It Means For Banks

  

  A recent letter from the New York State Department of Financial Services outlining how banks can use blockchain analytics in anti-money laundering efforts is a reminder that crypto activity is not exempted from banks' role in keeping the financial system safe, says Katherine Lemire at Lankler Siffert.

• 3 Trends From AI-Related Securities Class Action Dismissals

  

  A review of recently dismissed securities class actions centering on artificial intelligence highlights courts' scrutiny of statements about AI's capabilities and independence, and sustained focus on issues that aren't AI-specific, say attorneys at Alston & Bird.

• CFTC, SEC Joint Statement Highlights New Unity On Crypto

  

  The U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission's recent joint statement announcing a cross-agency initiative enabling certain spot crypto-asset products to trade on regulated exchanges is the earliest and most visible instance of interagency cooperation on crypto regulation, say attorneys at Morgan Lewis.

• Regulatory Uncertainties Loom As Fed Ends Crypto Oversight

  

  The Federal Reserve Bank's recently ended crypto supervisory program headlines other recent federal actions from Congress, the White House and relevant agencies that may complicate financial institutions' digital-asset use and attendant compliance strategies, say attorneys at Buchalter.

• Opinion

  SEC Arbitration Shift Is At Odds With Fraud Deterrence

  

  The U.S. Securities and Exchange Commission's recent statement allowing the use of mandatory arbitration by new publicly traded companies could result in higher legal costs, while removing the powerful deterrent impact of public lawsuits that have helped make the U.S. securities markets a model of transparency and fairness, say attorneys at Labaton Keller.

• Protecting Sensitive Court Filings After Recent Cyber Breach

  

  In the wake of a recent cyberattack on federal courts' Case Management/Electronic Case Files system, civil litigants should consider seeking enhanced protections for sensitive materials filed under seal to mitigate the risk of unauthorized exposure, say attorneys at Redgrave.

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  NY Banking Brief: All The Notable Legal Updates In Q3

  

  Of note in the third quarter of the year, New York state regulators moved forward on their agendas to limit abuse of electronic banking, including via a settlement with stablecoin issuer Paxos and a lawsuit against Zelle alleging insufficient security measures, says Chris Bonner at Barclay Damon.

• Gauging SEC Short-Sale Rules' Future After 5th Circ. Remand

  

  Though the Fifth Circuit recently remanded to the U.S. Securities and Exchange Commission two Biden-era rules requiring disclosure of securities lending and short-sale activity in order to consider the rules' cumulative economic impact, it's possible they will get reproposed, meaning compliance timelines could change, says Scott Budlong at Barnes & Thornburg.

• Series

  Judging Figure Skating Makes Me A Better Lawyer

  

  Judging figure skating competitions helps me hone the focus, decisiveness and ability to process complex real-time information I need in court, but more importantly, it makes me reengage with a community and my identity outside of law, which, paradoxically, always brings me back to work feeling restored, says Megan Raymond at Groombridge Wu.

• 9th Circ. Ruling May Help Pharma Cos. Avert Investor Claims

  

  The Ninth Circuit's recent decision affirming the dismissal of a securities fraud class action alleging that Talphera deceived investors by marketing a drug with a misleading slogan should give plaintiffs pause before filing similar complaints where snappy slogans are accompanied by copious clarifying information, say attorneys at Simpson Thacher.

• What Ethics Rules Say On Atty Discipline For Online Speech

  

  Though law firms are free to discipline employees for their online commentary about Charlie Kirk or other social media activity, saying crude or insensitive things on the internet generally doesn’t subject attorneys to professional discipline under the Model Rules of Professional Conduct, says Stacie H. Rosenzweig at Halling & Cayo.

• Balancing The Risks And Rewards Of Private Equity In 401(k)s

  

  The recent executive order directing government agencies to consider encouraging private equity and other alternative investments in 401(k) plans does not change the fundamental fiduciary calculus or reduce risk, as success with private investments will depend on careful analysis of both participant demand and fiduciary obligations, say attorneys at Jenner & Block.

• 2 Rulings Highlight IRS' Uncertain Civil Fraud Penalty Powers

  

  Conflicting decisions from the U.S. Tax Court and the Northern District of Texas that hinge on whether the IRS can administratively assert civil fraud penalties since the U.S. Supreme Court’s 2024 decision in SEC v. Jarkesy provide both opportunities and potential pitfalls for taxpayers, says Michael Landman at Bird Marella.