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Compliance
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May 16, 2025
FINRA Faces Calls To Narrow Its Outside Biz Rule Revamp
The Financial Industry Regulatory Authority has received a range of feedback on its proposal to streamline reporting requirements for firm representatives' outside business activities, with industry groups urging various tweaks to the measure, and a state regulator and investment adviser group opposing it outright.
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May 16, 2025
CFTC May Be Hobbled As Another Member Announces Exit
The U.S. Commodity Futures Trading Commission's Christy Goldsmith Romero announced Friday that she will be stepping down as commissioner at the end of the month, potentially leaving the agency struggling to move forward with only two members as it awaits congressional action on President Donald Trump's nominee for chair.
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May 16, 2025
SEC X Account Hack Conspirator Gets 14 Months
An Alabama man was sentenced in D.C. federal court Friday to 14 months behind bars for his role in last year's hack of the U.S. Securities and Exchange Commission's account on the social platform X to post a bogus development in the agency's cryptocurrency policy.
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May 16, 2025
NJ Transit Calls Unions' Refusal To Cross Picket Line Unlawful
NJ Transit has hit two unions with lawsuits in New Jersey federal court over a rail strike that began Friday, accusing a Teamsters unit and the American Train Dispatchers Association of violating the Railway Labor Act by refusing to cross another Teamsters unit's picket line.
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May 16, 2025
Coinbase Users Sue Over Bribery-Linked Data Breach
Crypto exchange Coinbase faces a wave of lawsuits from users accusing it of negligent information security practices after the exchange disclosed that an unknown perpetrator had stolen customer data by bribing overseas workers.
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May 16, 2025
'Tuna Bond' Defendants Ordered To Pay $352M In Restitution
A Brooklyn federal judge ordered three former Credit Suisse bankers and the former finance minister of Mozambique to pay a combined $352 million in restitution Friday after they pled guilty or were convicted of scheming to defraud investors in a $2 billion state-backed development initiative involving tuna fishing.
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May 16, 2025
SEC's Atkins Previews Possible Changes To CEO Pay Rules
U.S. Securities and Exchange Commission Chair Paul Atkins announced Friday the agency plans to review rules requiring public companies to report the earnings of CEOs and other high-level executives, highlighting a possible area of regulatory change for the now Republican-led commission.
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May 16, 2025
Green Group Says Trump Admin Stalling On Logging Records
Federal agencies are dragging their feet in response to requests for information related to how they are implementing President Donald Trump's executive order to expand logging projects in the U.S., a lawsuit filed Friday in D.C. federal court says.
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May 16, 2025
HHS Says Pain Clinic's Delay Hurts $11M Bill Challenge
The U.S. Department of Health and Human Services on Friday fought a pain clinic's bid in North Carolina federal court for a pretrial win in the clinic's suit challenging $11 million in overpayments for urine drug screening tests, saying the clinic waited too long to bring evidence that the testing was justified.
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May 16, 2025
FCC Aims To Push China Out Of Telecom Certification Process
The Federal Communications Commission has announced its plan to ban Chinese test labs and telecommunications certification bodies from being used on devices destined for the United States, and industry stakeholders have opinions on whether they think that's a good idea.
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May 16, 2025
Employment Authority: What Unions Face With Trump EOs
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with labor relations experts' take on tactics unions need as they face impacts from President Donald Trump's executive orders, a look at ongoing lawsuits from the legal strategist who pursued the U.S. Supreme Court case that ended affirmative action in college admissions and tips for handling the update to New York's frequency of pay law.
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May 16, 2025
Trump Calls On Justices To Stay Block Of Gov't Restructuring
President Donald Trump asked the U.S. Supreme Court on Friday to pause a California federal judge's order temporarily halting agencies from implementing an executive order to plan reorganizations and reductions in force, claiming the lower court's decision has caused confusion and wasted taxpayer dollars.
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May 16, 2025
Families Rip DOJ Bid To Ditch Boeing 737 Max Criminal Case
The U.S. Department of Justice might back down from criminally prosecuting Boeing over the deadly 737 Max crashes and save the American aerospace giant from a high-profile trial in Texas next month under a tentative deal that attorneys for crash victims' families decried Friday as offensive and "morally repugnant."
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May 16, 2025
Parents Sue Colgate Over Alleged Dangers Of Fluoride Rinse
A proposed class of buyers of oral rinses is suing Colgate-Palmolive Co., alleging it misleadingly advertises its Hello Kids Fluoride Rinse as safe despite the U.S. Food and Drug Administration considering it too dangerous for children under 6 years old.
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May 16, 2025
Live Nation Denies Colluding Over Pandemic Response
Live Nation denied any wrongdoing while appearing to acknowledge a U.S. Department of Justice criminal probe into potential collusion with fellow ticketing and entertainment company Anschutz Entertainment Group Inc. in their response to the COVID-19 pandemic.
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May 16, 2025
11th Circ. Troubled By Feds' Reversal On ALJ Removal Law
Eleventh Circuit arguments on whether Walmart Inc. must face an administrative law judge over alleged immigration recordkeeping violations were derailed Friday by the court's concerns about the Trump administration's decision to no longer defend the statute protecting such judges from removal by the executive branch.
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May 16, 2025
NLRB Acting GC Narrows Remedy Asks In Settlement Talks
National Labor Relations Board acting general counsel William Cowen instructed regional officials on Friday to exercise more discretion over the remedies they pursue when seeking to settle cases, walking back instructions from his predecessor to seek maximum remedies in settlements.
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May 16, 2025
DC Circ. Probes Agency Power In Labor Firings Appeal
A D.C. Circuit panel grappled Friday with the extent of the president's power to fire federal officials with the U.S. Supreme Court's views in flux, with two judges straining to pin the government's attorney down on what divides agencies Congress can insulate and those it can't.
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May 16, 2025
Despite US-China Tariff Pause, Business Pressures Persist
U.S. importers dodged an effective ban on Chinese imports for now following the U.S. and China suspending higher tariff rates, but companies still foresee higher prices and supply-chain disruptions that will continue to stoke economic anxiety.
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May 16, 2025
Pot Farm Can't Challenge Colo. Regulators' Alleged Inaction
A Colorado state judge has dismissed a cannabis farm's suit alleging that state regulators haven't sufficiently cracked down on illegal operators, saying the farm isn't challenging a final agency action that is subject to judicial review.
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May 16, 2025
Ala. Medical Pot Co. Claims Regulator Retaliation Over Suits
A prospective Alabama medical cannabis business has filed a federal lawsuit against state medical marijuana regulators, alleging that officials violated the company's First Amendment rights by refusing to award it a license after it raised the alarm about irregularities and delays.
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May 16, 2025
Feds Want Ex-McKinsey Exec To Serve Time For Obstruction
Prosecutors urged a Virginia federal judge Thursday to sentence a disbarred, former senior McKinsey & Co. partner to one year in prison for obstructing an investigation into the consulting giant's work with opioid-manufacturer Purdue Pharma, while defense counsel pushed for probation so that he can return to his home in Thailand.
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May 16, 2025
NJ, DuPont To Face Off In Landmark PFAS Trial Series
New Jersey and chemical manufacturing giant E.I. DuPont de Nemours will square off Monday over the contamination at a former Salem County manufacturing facility in a first-of-a-kind series of trials that environmental attorneys expect will impact "forever chemicals" litigation across the country.
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May 16, 2025
DC Circ. Says Vt. Didn't Waive Hydro Dam Review Authority
The D.C. Circuit on Friday nixed a Vermont village's lawsuit claiming the state waived its role in the federal relicensing of the village's hydroelectric project, saying it was the village's own actions that caused the state to miss a statutory deadline to act.
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May 16, 2025
Stris & Maher Taps DOL Appellate Chief For ERISA Litigation
Trial and appellate litigation boutique Stris & Maher LLP has expanded its Employee Retirement Income Security Act litigation practice with the addition of a veteran U.S. Department of Labor attorney.
Expert Analysis
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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.
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How Attorneys Can Master The Art Of On-Camera Presence
As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.
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Justices' TikTok Ruling Sets Stage For 1st Amendment Battle
The U.S. Supreme Court's landmark ruling upholding a law requiring TikTok's sale sets the stage for an inevitable clash between free speech and government interests and signals that future cases will turn on whether a regulation poses a substantial burden on speech, say attorneys at Dykema.
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What Del. Corporate Law Rework Means For Founder-Led Cos.
Although the amendments to the Delaware General Corporation Law have proven somewhat divisive, they will provide greater clarity and predictability in the rules that apply to founder-led companies navigating transactions concerning controlling stockholders and responding to books-and-records requests, say attorneys at Munger Tolles.
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Border Cash Transaction Rule Heralds Wider AML Crackdown
The Financial Crimes Enforcement Network’s new order for money services providers near the Mexican border to report cash transactions over $200 should warn financial institutions to prepare for the new administration's heightened scrutiny of cross-border transactions and anti-money laundering compliance, says Daniel Silva at Buchalter.
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Series
Baseball Fantasy Camp Makes Me A Better Lawyer
With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.
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DOJ Immigration Playbook May Take Cues From A 2017 Case
A record criminal resolution with a tree trimming company accused of knowingly employing unauthorized workers in 2017 may provide clues as to how the U.S. Department of Justice’s immigration crackdown will touch American companies, which should prepare now for potential enforcement actions, says Jonathan Porter at Husch Blackwell.
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Paul Atkins' Past Speeches Offer A Glimpse Into SEC's Future
Following Paul Atkins' Thursday Senate confirmation hearing, a look at his public remarks while serving as a commissioner at the U.S. Securities and Exchange Commission between 2002 and 2008 reveals eight possible structural and procedural changes the SEC may see once he likely takes over as chair, say attorneys at Covington.