Expert Analysis

• What SEC Actions Against NFTs May Mean For Issuers

  

  The U.S. Securities and Exchange Commission’s recent charges against two non-fungible token issuers, Impact Theory and Stoner Cats, suggests that there could be additional SEC scrutiny of NFTs down the line, and that issuers should consider whether their assets might create an investment contract regulated under federal securities laws, say attorneys at Wilson Sonsini.

• Issues Ahead As Psychedelic Medicine Faces Pivotal Moment

  

  Recent regulatory changes and decriminalization efforts have opened doors for research and development in psychedelic medicine, but challenges like stigma, access and funding persist, meaning companies will need to address these issues to support the industry’s credibility, say consultants at FTI Consulting.

• How Investors Can Seize Renewables Opportunities In RE

  

  As governments and stakeholders increasingly focus on sustainability in the real estate sector, investors could capture significant upside by implementing an operational real estate strategy focused on renewable energy sources, say attorneys at Goodwin.

• 2 Cases May Expand CFPB's Reach On Deceptive Practices

  

  In two separate cases, the Consumer Financial Protection Bureau is asserting a broad interpretation of who is subject to the Consumer Financial Protection Act's prohibition on unfair, deceptive, or abusive acts and practices, raising questions about what an expansion of its authority might mean for consumer credit markets, say John Coleman and Leslie Meredith at Orrick.

• What Large Language Models Mean For Document Review

  

  Courts often subject parties using technology assisted review to greater scrutiny than parties conducting linear, manual document review, so parties using large language models for document review should expect even more attention, along with a corresponding need for quality control and validation, say attorneys at Sidley.

• Series

  Participating In Living History Makes Me A Better Lawyer

  

  My role as a baron in a living history group, and my work as volunteer corporate counsel for a book series fan association, has provided me several opportunities to practice in unexpected areas of law — opening doors to experiences that have nurtured invaluable personal and professional skills, says Matthew Parker at the Nebraska Department of Health and Human Services.

• Opinion

  Private Equity Owners Can Remedy Law Firms' Agency Issues

  

  Nonlawyer, private-equity ownership of law firms can benefit shareholders and others vulnerable to governance issues such as disparate interests, and can in turn help resolve agency problems, says Michael Di Gennaro at The Law Practice Exchange.

• Mass. Robinhood Ruling Will Affect Broker-Dealers Nationwide

  

  Following the Massachusetts Supreme Judicial Court's recent ruling in Robinhood v. Galvin, which upheld the state's rule imposing a fiduciary duty standard on broker-dealers, the Massachusetts Securities Division will likely target in-state and out-of-state firms under the rule, say attorneys at Mintz.

• How To Protect Atty-Client Privilege While Using Generative AI

  

  When using generative artificial intelligence tools, attorneys should consider several safeguards to avoid breaches or complications in attorney-client privilege, say Antonious Sadek and Christopher Campbell at DLA Piper.

• How New Lawyers Can Leverage Feedback For Growth

  

  Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.

• A Cautionary Tale Of Flawed Debt Accounting And SEC Fines

  

  The U.S. Securities and Exchange Commission's recent improper-accounting charges against Malvern Bancorp and its ex-CFO highlight crucial practice issues, including the need to objectively evaluate borrowers' credit, say attorneys at Arnold & Porter.

• Del. Corporate Law Overhaul Delivers On Flexibility For Cos.

  

  Recent amendments to the Delaware General Corporation Law provide needed flexibility to public companies, including by making it easier to effect stock splits or changes to authorized shares, and by streamlining the process to ratify defective corporate acts, say attorneys at Venable.

• Private Fund Advisers Should Prep Now For New SEC Rules

  

  The U.S. Securities and Exchange Commission's final private fund adviser rules place significant burdens on this group, and despite both modifications to the initial ruleset and litigation challenges, advisers should begin developing practices that could comply with these regulations should any of them take effect, say attorneys at Simpson Thacher.

• Twitter Legal Fees Suit Offers Crash Course In Billing Ethics

  

  X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.

• The Long Reach Of Proposed Security-Based Swaps Rule

  

  The U.S. Securities and Exchange Commission's proposed security-based swap reporting rule's public disclosure provision is novel and contentious, and if it's included in the final rule, it would be a fundamental change in market structure that could chill activity in the space and incentivize market participants to use alternative derivative instruments, says Andrew Blake at Sidley.