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Compliance
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May 06, 2025
Morgan Stanley Says SEC Has Closed Cash Sweep Probe
The U.S. Securities and Exchange Commission has ended an investigation into Morgan Stanley's cash sweep program without recommending an enforcement action, the bank told investors.
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May 06, 2025
CFPB Abandons Enforcement Of Buy Now, Pay Later Rule
The Consumer Financial Protection Bureau announced Tuesday that it will not prioritize enforcement actions taken on buy now, pay later products, adding to the list of positions the agency is reviewing or rolling back under the organization's new leadership.
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May 06, 2025
Treasury Bans Burmese Militia Group From US Business Deals
The U.S. Department of the Treasury sanctioned Burmese militia group the Karen National Army, its leader Saw Chit Thu and his sons Saw Htoo Eh Moo and Saw Chit Chit, banning them from doing business with any American entity or individuals.
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May 06, 2025
Google Calls Proposed Ad Tech Breakup 'Unworkable'
Google has told a Virginia federal court that fixes being proposed by enforcers in the ad tech monopolization case calling for the sale of its ad exchange and publisher-side tool are legally inappropriate and practically "unworkable."
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May 06, 2025
EPA Urges DC Circ. To Block Climate Change NGO Grants
The U.S. Environmental Protection Agency asked the D.C. Circuit to allow it to restart its effort to reclaim billions of dollars in congressionally approved funding for nonprofits the Biden administration picked to carry out climate change projects.
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May 06, 2025
State Officials Say CFPB Is Holding Up $4.2M Redress Checks
Officials from a dozen states have accused the Consumer Financial Protection Bureau of ghosting them on a $4.2 million redress plan for former students of a shuttered sales-training firm, saying the agency has not cut any checks and is not answering them.
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May 02, 2025
Republicans Tout Bill To Make App Stores Verify Users' Ages
Two Republican lawmakers introduced a bill Thursday to protect minor app users by requiring app stores and developers to vet their ages through a verification process and seek parental consent before allowing them to download apps or make any purchases.
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May 06, 2025
Co. Not Liable For Injuries In Employee Attack, 11th Circ. Says
The Eleventh Circuit ruled Monday that wholesale restaurant supply store McLane Foodservice is not liable for injuries suffered by an employee who was set on fire at work by a former partner because the company could not have foreseen this kind of violent, premeditated act.
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May 06, 2025
SafeMoon CEO Tells Jury Founder To Blame For Investor Fib
Counsel for a U.S. Army veteran in Utah who served as CEO of SafeMoon told a Brooklyn, New York, federal jury Tuesday that he did not conspire to loot the crypto company's assets, implying its fugitive founder is to blame for a key misrepresentation.
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May 06, 2025
Car Seat Maker Sued Over Faulty Recall, Replacement Parts
Kids' product maker Dorel Juvenile Group Inc. recalled car seats with a headrest cover that posed a choking hazard to young children, then sent customers new parts that do not solve the problem, according to a proposed class action.
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May 06, 2025
Nuclear Plant Renewal Rules Are Sound, Backers Tell DC Circ.
New U.S. Nuclear Regulatory Commission license renewal rules adequately account for environmental risks from accidents, aging equipment and climate change, industry players told the D.C. Circuit, urging it to reject a challenge brought by anti-nuclear power groups.
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May 06, 2025
Trump Orders FDA To Speed Up Drug Plant Approvals
President Donald Trump directed the U.S. Food and Drug Administration to cut the approval timelines for new manufacturing facilities by domestic drugmakers and also to pressure foreign drugmakers to comply with quality control inspections, according to a recent executive order.
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May 06, 2025
Senate Panel Advances Bowman For Fed Supervision Chief
The U.S. Senate Banking Committee on Tuesday endorsed President Donald Trump's selection of Federal Reserve Gov. Michelle Bowman to be the top bank regulatory official at the central bank, advancing her as part of his latest slate of financial nominees.
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May 06, 2025
Calif. Agency Hits Retailer In Latest Privacy Enforcement Strike
The California Privacy Protection Agency revealed its second action under a state data privacy law on Tuesday, requiring national clothing retailer Todd Snyder Inc. to pay more than $345,000 and overhaul its business practices to resolve claims that the company mishandled requests by consumers to stop the sale and sharing of their personal information.
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May 05, 2025
4th Circ. Seems Split On Fight Over DOGE's Data Access
The Fourth Circuit on Monday seemed poised for another split on letting the government share citizens' personally identifiable information with Elon Musk's Department of Government Efficiency, with a line of questioning that parroted their earlier division over pausing the trial court's injunction blocking DOGE from accessing that data.
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May 05, 2025
Class Cert. Partially Granted In Auto Insurance Discount Case
A California federal court partially granted class certification Monday over policyholders' claims that a group of insurers violated the state's rule on good driver discounts.
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May 05, 2025
Debt Agency Agrees To $2.6M Deal To End Data Breach Claims
Debt collection agency and buyer NCB Management Services Inc. has agreed to pay $2.625 million to resolve consolidated proposed class action claims it failed to protect more than a million consumers whose personal information was compromised when it was hit with a companywide ransomware attack.
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May 05, 2025
Officials Seek More Depo Time In Live Nation Antitrust Suit
U.S. officials have asked a Manhattan federal court to extend deposition time in a lawsuit accusing Live Nation of anticompetitive practices in ticket sales to live entertainment events, saying they need more hours to seek testimony from several entities and individuals who were recently disclosed in the case.
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May 05, 2025
CFTC Drops DC Circ. Appeal Over Kalshi's Election Contracts
The U.S. Commodity Futures Trading Commission moved Monday to voluntarily drop its D.C. Circuit challenge over trading platform Kalshi's election contracts, which allow users to trade on the outcome of U.S. elections.
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May 05, 2025
House GOP Eyes Expanded CFTC Oversight Of Crypto
House Republicans indicated Monday that they want the U.S. Commodity Futures Trading Commission to play a key role in overseeing digital asset markets, a draft proposal that followed weekend pushback from Democratic senators opposed to other crypto legislation targeting so-called stablecoins.
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May 05, 2025
DC Circ. Judge Doubts Fla. Plan To Permit Clean Water
At least one D.C. Circuit judge came to the table Monday morning extremely skeptical about the government's argument to restore the U.S. Environmental Protection Agency's approval of Florida's plan to assume control of a Clean Water Act permitting program, and she wasn't pulling any punches.
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May 05, 2025
Judge Rejects Media Matters' Bid To Move X's Case
A Texas federal judge has shot down a bid by watchdog Media Matters for America to transfer X Corp.'s defamation case against it to the Northern District of California, saying Media Matters has waived any contractual right to transfer venues it may have had.
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May 05, 2025
Calif. Stations Must Pay $32K Over File Failings, FCC Says
Two California TV stations have agreed to pay over $30,000 and to enter compliance plans after the Federal Communications Commission said they broke agency rules by failing to maintain and upload records regarding commercial limits in children's programming.
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May 05, 2025
Fla. Judge Wants Briefs In ACA Trans Health Fight
A Florida federal judge Monday requested briefing from the U.S. Department of Health and Human Services and the state of Florida on how to handle a suit challenging the Biden administration's regulations clarifying gender identity-based discrimination under the Affordable Care Act.
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May 05, 2025
Crypto Exec Says Feds Failed To Disclose Key Evidence
An indicted co-founder of crypto mixing service Samourai Wallet told a New York federal judge on Monday about prosecutors' alleged "shocking" failure to disclose evidence that calls into question the criminal charges brought against him and asked for a hearing into the alleged slip-up.
Expert Analysis
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UK Refusal Of US Extradition Request May Set New Standard
The recent U.K. Supreme Court ruling in El-Khouri v. U.S., denying a U.S. extradition request, overturns a long-held precedent and narrows how U.K. courts must decide such requests, potentially signaling a broader reevaluation of U.K. extradition law, say lawyers at Dechert and Kingsley Napley.
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Navigating The Growing Thicket Of 'Right To Repair' Laws
An emerging patchwork of state laws on the right to repair creates tensions with traditional intellectual property and competition principles, so manufacturers should plan proactively for legal disputes and minimize potential for rival third-party repairs to weaponize state laws, say attorneys at Reed Smith.
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Justices' Revival Ruling In Bias Suit Exceeds Procedural Issue
The U.S. Supreme Court's recent ruling in Waetzig v. Halliburton allowed the plaintiff in an age discrimination lawsuit to move to reopen his case after arbitration, but the seemingly straightforward decision on a procedural issue raises complex questions for employment law practitioners, says Christopher Sakauye at Dykema.
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Why A Rare SEC Dismissal May Not Reflect A New Approach
While the U.S. Securities and Exchange Commission's pending dismissal of its case against Silver Point is remarkable to the extent that it reflects a novel repudiation of a decision made during the prior commission, a deeper look suggests it may not represent a shift in policy approach, say attorneys at Weil.
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Unpacking First Consumer Claim Under Wash. Health Data Act
The first consumer class action claim filed under Washington's My Health My Data Act, Maxwell v. Amazon.com, may answer questions counsel have been contending with since the law was introduced almost a year ago, if the court takes the opportunity to interpret some of more opaque language, say attorneys at Polsinelli.
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Deficiency Trends In National Futures Association Exams
A recent notice from the National Futures Association outlining the most common deficiencies uncovered during exams gives member firms an opportunity to review prior guidance, particularly regarding the hot topic of implementing procedures governing the use of outsourced service providers, say attorneys at Akin.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
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Mastering The Fundamentals Of Life Sciences Due Diligence
As life sciences transactions continue to gain tremendous momentum, companies participating in these transactions must conduct effective and strategic regulatory due diligence, which involves extensive amounts of information and varies by manifold factors, says Anna Zhao at GunnerCooke.
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A Close-Up Look At DOJ's Challenge To HPE-Juniper Deal
The outcome of the Justice Department's challenge to Hewlett Packard Enterprise's proposed $14 billion acquisition of Juniper Networks will likely hinge on several key issues, including market dynamics and shares, internal documents, and questions about innovation and customer harm, say attorneys at McDermott.
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Why NY May Want To Reconsider Its LLC Transparency Law
Against the backdrop of the myriad challenges to the federal Corporate Transparency Act, it may be prudent for New York to reconsider its adoption of the LLC Transparency Act, since it's unclear whether the Empire State's "baby-CTA" statute is still necessary or was passed prematurely, say attorneys at Pillsbury.
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Pleading Rules At Stake In High Court Hamas Banking Case
While a case between victims of Hamas terrorist attacks and a Lebanese bank, recently argued before the U.S. Supreme Court, appears to ask a narrow question of which civil procedure rules apply to requests to reopen final judgments, how the justices rule could drastically change pleading strategies for future plaintiffs, say attorneys at Dorsey & Whitney.
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9 Considerations For Orgs Using AI Meeting Assistants
When deciding to use artificial intelligence meeting assistants, organizations must create and implement a written corporate policy that establishes the do's and don'ts for these assistants, taking into account individualized business operations, industry standards and legal and regulatory requirements, say attorneys at Faegre Drinker.
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Expectations For SEC Exams As Private Credit Market Grows
The U.S. Securities and Exchange Commission may rely heavily on its Division of Examinations for regulating private credit markets amid their expansion into the retail investor space, so investment advisers should be prepared to address several likely areas of focus when confronted with an exam, say attorneys at Dechert.
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AG Watch: Texas Is Entering New Privacy Enforcement Era
The state of Texas' recent suit against Allstate is the culmination of a long-standing commitment to vigorously enforcing privacy laws in the state, and while still in the early stages, it offers several important insights for companies and privacy practitioners, says Paul Singer at Kelley Drye.
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IRS Scrutiny May Underlie Move Away From NIL Collectives
The University of Colorado's January announcement that it was severing its partnership with a name, image and likeness collective is part of universities' recent push to move NIL activities in-house, seemingly motivated by tax implications and increased scrutiny by the Internal Revenue Service, say attorneys at Buchanan Ingersoll.