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Compliance
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May 08, 2025
SEC's Peirce Outlines Path To Exempt Tokenized Securities
The U.S. Securities and Exchange Commission's Hester Peirce on Thursday endorsed the creation of "regulatory sandboxes" that would encourage companies to develop trading systems for tokenized securities, enabling them to experiment with new technologies without certain registration requirements that govern stock exchanges.
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May 08, 2025
Elizabeth Holmes Loses Bid For Full 9th Circ. Rehearing
The Ninth Circuit said Thursday it will not reconsider a panel decision refusing to throw out the conviction and 11-year prison sentence of Theranos Inc. founder Elizabeth Holmes.
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May 08, 2025
SafeMoon Fraud Turned Me Into A 'Monster,' Key Witness Says
A former SafeMoon developer told a Brooklyn federal jury Thursday that his "moral compass was skewed" by corruption at the cryptocurrency outfit, as he blamed the company's CEO for allegedly conspiring to loot the company.
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May 08, 2025
Wife Of Former FTX Exec Says Charges Are Built On Deception
Attorney and cryptocurrency lobbyist Michelle Bond, the wife of jailed former FTX executive Ryan Salame, told a Manhattan federal judge that her campaign finance case should be tossed because prosecutors broke a promise that she wouldn't be charged if her husband pled guilty.
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May 08, 2025
FERC Says Grid Upgrade Bill For Solar Farm Was Justified
The Federal Energy Regulatory Commission defended its decision to affirm a regional transmission operator's assignment of $311 million in upgrade costs for a Texas solar farm to connect to the grid, telling the D.C. Circuit studies of the project's impacts were sound.
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May 08, 2025
Jury Says Firm Owes Ex-HR Exec $3.27M In Retaliation Case
A Tennessee federal jury said a personal injury firm should pay $3.27 million to a former chief people officer who claimed she was fired after raising concerns that female attorneys were being paid less than men.
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May 08, 2025
Tenn. Hotel Operators To Stop Collecting Tax After 30 Days
Tennessee will require hotel operators to stop collecting occupancy taxes from people who stay for more than 30 days under a bill signed by the governor.
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May 08, 2025
Rising Tide Of Trump Pardons Not Lifting All Boats, Attys Say
President Donald Trump signed off on more pardons and commutations during his first 100 days in office than any president in modern history while bypassing the traditional clemency process that goes through the U.S. Department of Justice, potentially giving false hope to those who believe they have a chance to benefit from the executive actions but lack White House connections.
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May 07, 2025
Senate Backs Bid To Scrap Biden-Era OCC Bank Merger Rule
Senators voted Wednesday to repeal the Office of the Comptroller of the Currency's Biden-era revamp of its bank merger review standards, advancing an effort to undo a rule that banks criticized as creating more complication and uncertainty for their deals.
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May 07, 2025
Google Is 'What's Best' For Users, Apple Exec Tells Judge
A top Apple executive forcibly defended the company's pick for its default search engine Wednesday, telling a D.C. federal judge that Google is the only real option, as the U.S. Justice Department looks to ban Google from paying the iPhone maker and others for default search engine placement.
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May 07, 2025
Ga. Landowner Says Exempt Farm Activities Doom CWA Suit
Georgia property owners have accused neighbors of polluting streams and lakes on their land while prepping to build a solar farm, but the neighbors this week told a federal judge their actions were for agricultural purposes, which should exempt them from any Clean Water Act claims.
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May 07, 2025
CVS Hid Prescription Discounts From Medicaid, States Allege
CVS failed to disclose to state Medicaid programs that it was offering discounts on prescriptions to cash-paying customers, violating regulations aimed at assuring that government insurance programs pay the lowest possible price for drugs, the attorneys general of four states said in a complaint unsealed Wednesday.
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May 07, 2025
Illinois Seeks Exit From Suit Over Demographic Data Law
Illinois asked a federal judge to toss a lawsuit brought by a group called the American Alliance for Equal Rights that seeks to block the state from enforcing a law requiring nonprofits to publicize their demographic data, saying the organization has no standing to bring the claims.
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May 07, 2025
Texas Bill May Limit Full Redress For Personal Injury Victims
A Texas bill aimed at reining in allegedly excessive jury awards granted to personal injury victims would be a boon for insurance companies, but it may threaten victims' ability to get full compensation for the consequences of another party's negligence.
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May 07, 2025
OCC Affirms Banks' Crypto Custody, Execution Capabilities
The Office of the Comptroller of the Currency on Wednesday made clear that banks can buy and sell crypto on behalf of their customers and outsource custody services to third parties, reaffirming a stance the regulator first took in 2020.
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May 07, 2025
Philips Presses For 'Certainty' On Next-Gen TV Transition
Electronics giant Philips is backing the National Association of Broadcasters' proposed timeline for stations to move to "NextGen TV," telling the Federal Communications Commission in a new filing that clear government action is needed to "shepherd the broadcast and consumer electronics industries towards a successful transition."
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May 07, 2025
Upstart Says SEC Has Ended Probe Into AI, Loan Disclosures
The U.S. Securities and Exchange Commission has closed an investigation into online lender Upstart's disclosures around the use of artificial intelligence for underwriting and loans, according to the firm's latest agency filing.
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May 07, 2025
Top Groups Lobbying The FCC
The Federal Communications Commission heard from advocates dozens of times throughout April about their concerns, from T-Mobile's planned takeover of UScellular's wireless operations to Native American tribes' needs for licensed spectrum, phone "unlocking" mandates to spur competition, satellite power limits and more.
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May 07, 2025
Politics, Tech Issues Top Concerns At Chicago Risk Event
Insurance and risk professionals around the country gathered in Chicago to discuss potential perils and opportunities for the future, with talks often centering on President Donald Trump's administration, technological developments and statutory reform of the legal system.
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May 07, 2025
Envelope Co. Founders, Trust Co. Ink $8M ESOP Deal
Two founders of an envelope manufacturing company and a trustee to the company's employee stock ownership plan have agreed to fork over $8 million to end an ESOP participant's proposed class action alleging mismanagement, according to filings in Delaware federal court Wednesday.
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May 07, 2025
Deutsche Bank, Computacenter Sued For Firing Whistleblower
An ex-information technology employee at Computacenter has sued the company, Deutsche Bank and his ex-supervisor for $25 million in New York state court alleging he was fired for blowing the whistle on a security breach in which his colleague's girlfriend purportedly accessed private client information.
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May 07, 2025
Shell Says Conn. Draft Shows Climate Review Wasn't Needed
Two Shell Oil subsidiaries have asked a Connecticut federal judge to pause expert discovery in an environmental group's challenge to pollution prevention efforts at a New Haven petroleum terminal along Long Island Sound, claiming state regulators have clarified that their current permit does not squarely require a climate change review.
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May 07, 2025
Ex-Enforcers Back Higher Standard For Google Breakup
A bipartisan group of former federal antitrust enforcers stretching back to the Nixon administration has told the D.C. federal court overseeing the government's search monopolization case against Google that a high standard needs to be met when divestitures are sought.
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May 07, 2025
FSOC Rethink Of SIFI Labeling 'Is On Agenda,' Bessent Says
U.S. Treasury Secretary Scott Bessent signaled at a U.S. House hearing on Wednesday that the Financial Stability Oversight Council may seek again to curb its power to single out large asset managers and other nonbank financial firms for heightened regulation.
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May 07, 2025
Judge Says ICE 'Spirited' Academic Away To Avoid Challenge
A Virginia federal judge allowed a jailed Georgetown University fellow's suit accusing the government of illegally detaining him to proceed and be heard in Virginia, saying the government appears to have rapidly and repeatedly moved him between detention facilities in order to delay a habeas petition and to forum shop.
Expert Analysis
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How The ESG Investing Rule Survived Loper Bright, For Now
A Texas federal court's recent decision in Utah v. Micone upholding the U.S. Department of Labor's 2022 ESG investing rule highlights how regulations can withstand the post-Loper Bright landscape when an agency's interpretation of its statutorily determined boundaries is not granted deference, say attorneys at Miller & Chevalier.
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Series
Adapting To Private Practice: From DOJ Leadership To BigLaw
The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.
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Issues To Watch At ABA's Antitrust Spring Meeting
Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
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SEC Crypto Mining Statement Delivers Regulatory Clarity
The U.S. Securities and Exchange Commission's March 20 statement clarifying that certain crypto mining activities do not constitute the offer and sale of securities marks the end of the SEC's enforcement-first approach and ushers in a more predictable environment for blockchain innovation and investment, says Jeonghoon Ha at Ha Law.
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State Extended Producer Responsibility Laws: Tips For Cos.
As states increasingly shift the onus of end-of-life product management from consumers and local governments to the businesses that produce, distribute or sell certain items, companies must track the changing landscape and evaluate the applicability of these new laws and regulations to their operations, say attorneys at Alston & Bird.
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Nev. Fraud Ruling Raises Stakes For Proxy Battles
Though a Nevada federal court’s recent U.S. v. Boruchowitz decision involved unusual facts, the court's ruling that board members can be defrauded of their seat through misrepresentations increases fraud risks in more typical circumstances involving board elections, especially proxy fights, say attorneys at ArentFox Schiff.
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Law Firm Executive Orders Create A Legal Ethics Minefield
Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.
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NLRB Firing May Need Justices' Input On Removal Power
President Donald Trump's unprecedented removal of National Labor Relations Board member Gwynne Wilcox spurred a lawsuit that is sure to be closely watched, as it may cause the U.S. Supreme Court to reexamine a 1935 precedent that has limited the president's removal powers, say attorneys at Kelley Drye.
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The OCC's Newly Relaxed Approach To Bank Crypto Activity
With the early March rescission of Biden-era interpretive guidance, the Office of the Comptroller of the Currency has loosened its approach to regulating national banks and federal savings associations' crypto-asset activities, possibly removing one barrier to banks engaging in such activities, say attorneys at Debevoise.
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Contractor Remedies Amid Overhaul Of Federal Spending
Now that the period for federal agencies to review their spending has ended, companies holding procurement contracts or grants should evaluate whether their agreements align with administration policies and get a plan ready to implement if their contracts or grants are modified or terminated, say attorneys at DLA Piper.
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5 Steps To Promote Durable, Pro-Industry Environmental Regs
The U.S. Environmental Protection Agency's planned wave of deregulation will require lengthy reviews, and could be undone by legal challenges and future changes of administration — but industry involvement in rulemaking, litigation, trade associations, and state and federal legislation can help ensure favorable and long-lasting regulatory policies, say attorneys at Balch & Bingham.
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Trade Policy Shifts Raise Hurdles For Gov't And Cos. Alike
The persistent tension between the Trump administration's fast-moving and aggressive trade policies and the compliance-heavy nature of the trade industry creates implementation challenges for both the business community and the government, says Sara Schoenfeld at Kamerman.
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Firms Must Embrace Alternative Billing Models Or Fall Behind
As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.
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Opinion
7 Ways CFTC Should Nix Unnecessary Regulatory Burdens
Several U.S. Commodity Futures Trading Commission regulations do not work efficiently in practice, all of which can be abolished or improved in order to comply with a recent executive order requiring the elimination of 10 regulations for every new one implemented, say attorneys at K&L Gates.
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Key Insurance Issues Likely To Arise From NY Superfund Law
The recently enacted New York Climate Change Superfund Act imposes a massive $75 billion in liabilities on energy companies in the fossil fuel industry, which can be expected to look to their insurers for coverage, raising a slew of coverage issues both old and new, say attorneys at Wiley.