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Compliance
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May 13, 2025
CFTC Faces Sanctions For 'Bad Faith' Actions In Forex Case
The U.S. Commodity Futures Trading Commission is staring down sanctions in a case accusing a foreign exchange firm of fraud, with a special master recommending Tuesday that the agency pay the firm's legal fees for acting in bad faith in order to gain a "tactical advantage" in the case.
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May 13, 2025
FTC To Keep Focus On Key Sectors, Address Personal Liberty
The head of the Federal Trade Commission's Bureau of Competition said Tuesday the agency will remain focused on healthcare, technology and labor issues as enforcers also work to ensure corporate power does not infringe on personal liberties.
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May 13, 2025
CFPB Axes Order For Toyota Unit To Pay Millions In Redress
The Consumer Financial Protection Bureau has quietly lifted a consent order with Toyota's U.S. financing arm, releasing it from "any alleged noncompliance" with the order — including requirements that called for it to return nearly $42 million to consumers.
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May 13, 2025
SEC X Account Hack Conspirator Deserves 2 Years, Feds Say
Federal prosecutors are seeking a two-year sentence for an Alabama man who admitted to 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, while the man himself said Tuesday that a year and a day should suffice.
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May 13, 2025
Insurer Calls To Ax Mogul's Receivership Appeal As Sanction
An insurer seeking to collect on a $524 million arbitration award against convicted insurance mogul Greg Lindberg has asked the North Carolina Court of Appeals to toss Lindberg's attempt at undoing a receivership order as a sanction for allegedly flouting court deadlines.
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May 13, 2025
4 Firms Build Robinhood's $178.9M Canadian Crypto Buy
Financial services giant Robinhood on Tuesday unveiled plans to acquire Canadian cryptocurrency platform WonderFi Technologies in a CA$250 million ($179 million) take-private deal built by four law firms.
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May 13, 2025
Ex-FERC Chair And His Chief Of Staff Join Holland & Knight
The former chairman of the Federal Energy Regulatory Commission and his former chief of staff and legal adviser at the agency have joined Holland & Knight LLP's public policy and regulation practice in Washington, D.C., the firm announced on Tuesday.
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May 13, 2025
DOJ Criminal Division Head Dangles Self-Disclosure 'Carrot'
The U.S. Department of Justice unveiled a revised corporate enforcement policy Monday that offers companies a "clear path" to avoid criminal resolutions when they voluntarily self-disclose misconduct, a boon for American businesses that further scales back the scope of white collar enforcement under the Trump administration.
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May 13, 2025
Feds Want 2½ Years For Ex-Alvarez & Marsal CPA In Tax Case
A onetime managing director at consulting firm Alvarez & Marsal should spend two-and-a-half years in prison as punishment for failing to file his personal taxes and lying on a mortgage application, prosecutors told a D.C. federal judge.
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May 13, 2025
Mass. Contractor To Pay $10M For Alleged Overcharges
Massachusetts-headquartered government contractor NORESCO LLC has agreed to pay $9.6 million to settle allegations that it overcharged multiple federal agencies for energy efficiency improvements, the U.S. Attorney's Office in Boston announced Tuesday.
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May 13, 2025
Morgan Lewis Adds Ex-Dechert Registered Funds Pro In NY
Morgan Lewis & Bockius LLP has added a registered funds specialist who previously served over 20 years with Dechert LLP as a partner in its New York office, the firm announced Tuesday.
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May 12, 2025
3M Says It'll Pay $285M To End Past, Future NJ PFAS Claims
3M has agreed to shell out $285 million to put to rest environmental claims brought by New Jersey officials over purported PFAS contamination at the Chamber Works manufacturing facility in Salem County as well as statewide claims the Garden State may have in the future, according to an announcement made Monday.
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May 12, 2025
Missouri Hit With Sanctions In Generics Price-Fixing Fight
A Connecticut federal judge Monday agreed to sanction and potentially dismiss for good the state of Missouri from antitrust litigation by state enforcers accusing generic-drug makers of conspiring to raise drug prices, finding Missouri violated a court order by ignoring the drugmakers' repeated discovery requests.
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May 12, 2025
Amazon Cites FTC Take On Online Shopping Law In Prime Suit
Amazon has asked a federal court to either allow it to present evidence of the Federal Trade Commission's statements about the clarity of the Restore Online Shoppers' Confidence Act or permit it to bring the matter to the Ninth Circuit, arguing the issue must be resolved sooner rather than later.
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May 12, 2025
Feds Say Tribal Tariff Dispute Must Stay In US Trade Court
The U.S. Department of Homeland Security is fighting Montana tribal members' attempt to stop the transfer of their lawsuit challenging President Donald Trump's Canada tariff orders from federal court to the U.S. Court of International Trade, saying the CIT has exclusive jurisdiction over the case.
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May 12, 2025
DC Circ. Has 'Duty To Intervene' To Protect CFPB, Union Says
A union representing employees of the Consumer Financial Protection Bureau has urged the D.C. Circuit to keep in place a lower court injunction barring the agency from stopping work and firing staff, asserting ahead of oral arguments this week that the Trump administration is trying to "place the executive branch above the law."
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May 12, 2025
GOP Sens. Urge FCC To Overhaul Media Ownership Regs
Almost two dozen Republican senators have asked the Federal Communications Commission to "modernize the FCC's broadcast ownership rules," loosening regulations to allow "local broadcasters to compete with today's media giants."
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May 12, 2025
Mass. Court Says NIH Grant Disruption Suit Is In The Right Place
A Massachusetts federal court ruled Monday that it has jurisdiction over several states' lawsuit challenging delays and cancellations of federal grant programs linked to issues they say are "disfavored" by the Trump administration, rejecting the federal government's contention that the claims instead belonged in the U.S. Court of Federal Claims.
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May 12, 2025
SEC's Atkins Outlines Crypto Policy Plans At Roundtable
U.S. Securities and Exchange Commission Chairman Paul Atkins told crypto industry participants on Monday that developing rules for digital asset markets would be a "key priority" of his chairmanship during a keynote address that promised to focus the agency's enforcement approach on fraud and manipulation.
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May 12, 2025
Tribal Co. Hit With Class Suit Over High Interest Rates
Bright Lending was hit Friday with a proposed racketeering class action in Florida, claiming the online payday lender charges illegal interest rates on short-term loans and hides behind a Native American tribe in Montana to escape legal claims.
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May 12, 2025
Feds Ask Tesla For More Info On Texas Robotaxi Launch
Federal auto safety regulators have asked Tesla Inc. for more information about its upcoming plans to launch robotaxis in Austin, Texas, and whether the company has determined that its Full Self-Driving, or FSD, automated driving technology can achieve "acceptably safe behavioral competency."
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May 12, 2025
CFPB Eyes Reversal Of Biden-Era In-House Proceeding Rules
The Consumer Financial Protection Bureau on Monday moved to scrap rules from the Biden administration that gave the agency's director more control over in-house enforcement proceedings, a rollback that comes on the heels of President Donald Trump striking two other Biden-era rules on overdraft fees and digital payment supervision.
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May 12, 2025
Green Groups Fight Feds' Effort To Rescind Bird Protections
Environmental groups on Sunday asked a Texas federal court to reject the U.S. Fish and Wildlife Service's effort to reverse its decision to protect two populations of the lesser prairie-chicken under the Endangered Species Act.
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May 12, 2025
AGs Call Sandoz Deal's Consumer-Side Benefits 'Illusory'
Dozens of state attorneys general asked a Pennsylvania federal judge to permit intervention into a $275 million settlement resolving generic-drug price-fixing claims from end-payor plaintiffs against Sandoz, arguing the deal threatens relief for consumers and warning that the agreement favors insurers over individuals.
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May 12, 2025
Ex-Ga. Teacher Aims To Keep COVID Leave Claims Alive
A former Fulton County, Georgia, teacher who said she was forced out of her job by her district's refusal to accommodate her disability during the COVID-19 pandemic has urged a federal judge to keep her suit alive, objecting to a magistrate judge's finding that she waited too long to act on her allegations.
Expert Analysis
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10 Soft Skills Every GC Should Master
As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.
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How Proxy Advisory Firms Are Approaching AI And DEI
Institutional Shareholder Services' and Glass Lewis' annual updates to their proxy voting guidelines reflect some of the biggest issues of the day, including artificial intelligence and DEI, and companies should parse these changes carefully, say attorneys at Cahill Gordon.
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6 Criteria Can Help Assess Executive Branch Actions
With new executive policy changes announced seemingly every day, several questions can help courts, policymakers and businesses determine whether such actions are proper, effective and in keeping with our democratic norms, say Marc Levin and Khalil Cumberbatch at the Council on Criminal Justice.
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Reviving A Dormant Criminal Statute In Antitrust Prosecution
The U.S. Department of Justice is poised to revive a dormant misdemeanor statute to resolve bid-rigging charges against a foreign national, providing important context to a recent effort to entice foreign defendants to take responsibility for pending charges or face the risk of extradition, say attorneys at Axinn.
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End May Be In Sight For Small Biz Set-Aside Programs
A Jan. 21 executive order largely disarming the Office of Federal Contract Compliance Programs, along with recent court rulings, suggests that the administration may soon attempt to eliminate set-asides intended to level the award playing field for small business contractors that qualify under socioeconomic programs, say attorneys at Alston & Bird.
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Traversing The Shifting Sands Of ESG Reporting Compliance
Multinational corporations have increasingly found themselves between a rock and a hard place attempting to comply with EU and California ESG requirements while not running afoul of expanding U.S. anti-ESG regimes, but focusing on what is material to shareholder value and establishing strong governance can help, say attorneys at MoFo.
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.
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Ban On Reputation Risk May Help Bank Enforcement Defense
The Comptroller of the Currency and Federal Deposit Insurance Corp.’s recent commitment to stop examining banks for reputation risk could help defendants in enforcement actions challenge unfavorable assessments and support defendants' arguments for lower civil money penalties, says Brendan Clegg at Luse Gorman.
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Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.
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Keys To Regulatory Diligence In Life Sciences Transactions
Conducting effective regulatory due diligence for life sciences deals requires careful review of a target company's activities, and separate sets of considerations for commercial and pipeline products, says Anna Zhao at GunnerCooke.
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How Plan Sponsors Can Mitigate Risk In PBM Contracts
A recent lawsuit in New York federal court alleges that JPMorgan caused exorbitant prescription costs by mishandling the pharmacy benefit manager arrangement, adding to a growing body of Employee Retirement Income Security Act fiduciary breach litigation and affirming that fiduciaries must proactively manage their healthcare plan vendors, say attorneys at Hall Benefits Law.
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Lessons From Pa. Wiretapping Class Action Dismissal
A recent wiretapping class action in Pennsylvania federal court resulting in the dispositive dismissal of the action provides key insights on how online notice and consent can be leveraged to directly address and mitigate legal risks and class action liability exposure, say attorneys at Baker Donelson.
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Assessing Market Manipulation Claims In Energy Markets
Today's energy markets are conducive to sudden price changes, breakdowns in pricing linkages and substantial shifts in trading patterns, so it's necessary to take a holistic view when evaluating allegations of market manipulation, say Maximilian Bredendiek, Greg Leonard and Manuel Vasconcelos at Cornerstone Research.
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How Calif., NY Could Fill Consumer Finance Regulatory Void
California and New York have historically taken the lead in consumer financial protection, and both show signs of becoming even more active in this area during the second Trump administration amid an enforcement pullback at the federal level, say attorneys at Sidley.
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Series
Volunteer Firefighting Makes Me A Better Lawyer
While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.