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Compliance

  • December 14, 2018

    Walmart Compliance Chief Jay Jorgensen To Step Down

    Walmart Inc. told its employees Friday that former Sidley Austin LLP partner Jay Jorgensen, leader of the retailer’s global ethics and compliance program, is leaving the megachain to pursue other opportunities, according to an internal memo provided to Law360.

  • December 14, 2018

    Lincoln Financial Hires GC Away From Genworth

    Lincoln Financial Group has hired Genworth Financial veteran Leon Roday to serve as its general counsel, the financial advisory firm announced Friday.

  • December 14, 2018

    House Dems Press For CFPB Military Lending Oversight

    The likely next chair of the House Financial Services Committee and nearly two dozen other Democrats urged the Consumer Financial Protection Bureau’s new director on Friday to proactively supervise firms for compliance with servicemember lending rules, calling her predecessor’s reported pullback plans "nothing less than a dereliction of duty."

  • December 14, 2018

    JFK Ground Handling Co. Settles Kickback Claims for $12.3M

    A ground services company at John F. Kennedy International Airport agreed Thursday to pay $12.3 million to settle claims it paid kickbacks for contracts with British Airways and others at Kennedy and airports across the country, according to the New York State Attorney General’s Office.

  • December 14, 2018

    NY AG Settles Cases With Equifax, Others Over App Security

    New York's attorney general's office announced Friday that it has settled cases with five companies, including Equifax Consumer Services LLC and Priceline.com LLC, whose mobile apps had security gaps that could have allowed hackers to intercept users' credit card and Social Security numbers.

  • December 14, 2018

    FCC GC Sees Transparency As Best Rulemaking Defense

    For the Federal Communications Commission's general counsel, transparency in the government rulemaking process goes a long way toward making controversial agency decisions — like last year's net neutrality repeal — less likely to tank in the courtroom.

  • December 13, 2018

    Fed Says Banking Duo Snooped For Executive Roles At Rival

    Two banking executives acted as moles at a community bank in Wyoming, feeding information and customers to a rival institution to secure ownership stakes and executive positions, the Federal Reserve Board claimed in a disciplinary notice Thursday.

  • December 13, 2018

    Costco Execs Face Stock-Drop Suit Over Internal Controls

    Costco’s top brass failed to effectively address problems with its internal financial reporting systems and shared misleading information about those problems in public statements and to the U.S. Securities and Exchange Commission, a shareholder said in Washington federal court.

  • December 13, 2018

    IRS Will Fight Transfer Pricing, Even If It Loses, Official Says

    The Internal Revenue Service will continue to litigate transfer pricing cases as a way to drive compliance regardless of how courts rule in the disputes, the agency’s top official said Thursday.

  • December 13, 2018

    Treasury Floats Rules On Withholding Payments Under FATCA

    The U.S. Department of the Treasury proposed regulations Thursday to eliminate or defer withholding taxes on certain payments out of America to foreign banks that have fallen short on their requirements under the Foreign Account Tax Compliance Act.

  • December 13, 2018

    Senate Dems Call For Deutsche Bank Probe After AML Raid

    Two Senate Democrats called for a bipartisan investigation into Deutsche Bank AG's compliance with federal anti-money laundering laws and its correspondent banking operations in a letter to their colleagues in the Senate Banking Committee on Thursday, citing German authorities' recent raid on the bank and its "history of regulatory problems."

  • December 13, 2018

    Top Insurance Legislation & Regulation Stories Of 2018

    This year brought many major policy developments that affected insurers, with the European Union's stringent data security rules spurring demand for cyber insurance and U.S. regulators ending an era by rescinding Prudential's designation as a systemically important financial institution, leaving no nonbank firms with the controversial tag. Here, Law360 looks back at the biggest regulatory and legislative developments that impacted insurers in 2018.

  • December 13, 2018

    Locke Lord Accused Of Missing Health Plan's ERISA Liability

    The independent fiduciary for a failed health benefits plan accused Locke Lord LLP in a complaint filed in Illinois federal court of providing faulty legal advice that ultimately helped to spell the plan’s doom.

  • December 13, 2018

    9th Circ. Won't Revive Long-Running Raytheon FCA Suit

    The Ninth Circuit has refused to revive a long-running whistleblower suit that accuses Raytheon of bilking the federal government on a satellite sensor contract, saying the relator had failed to provide sufficient information about the company’s alleged False Claims Act violations despite six attempts to do so.

  • December 13, 2018

    Steptoe Adds Blockchain Atty To Ranks In Chicago

    Steptoe & Johnson LLP has added a securities, cryptocurrency and blockchain pro from Barnes & Thornburg LLP as a partner in its Chicago office, the firm has announced.

  • December 12, 2018

    FDA Explains Expectations For Drugmakers' Data Retention

    The U.S. Food and Drug Administration answered drugmakers’ questions Wednesday about how to maintain data from drug tests and the manufacturing floor, following an uptick in violations of federal information retention standards.

  • December 12, 2018

    Mortgage Co. Settles Loan Insurance FCA Case For $14.5M

    Finance of America Mortgage will pay $14.5 million to resolve a whistleblower lawsuit alleging that a predecessor company originated and underwrote deficient loans backed by federal insurance in violation of the False Claims Act, the U.S. Department of Justice announced Wednesday.

  • December 12, 2018

    VW Banks On Federal Shield To Beat States' Emissions Suits

    Volkswagen AG’s recent wins against states that separately sued the German automaker for environmental or anti-tampering law violations over its 2015 diesel emissions-cheating scandal have reinforced the federal government’s authority to regulate motor vehicle and emissions standards, spelling trouble for other pending state and county lawsuits.

  • December 12, 2018

    FDA Boss Vows Crackdown On Stem Cell, Supplement Cos.

    The U.S. Food and Drug Administration’s leader on Wednesday said that tougher enforcement is coming in early 2019 for bogus claims or shoddy manufacturing involving stem cell therapies, dietary supplements and compounded drugs.

  • December 12, 2018

    1-800 Contacts Asks FTC To Stay Ruling Axing Ad Compacts

    Online retailer 1-800 Contacts Inc. has asked the Federal Trade Commission to stay part of its recent ruling knocking out more than a dozen of the lensmaker’s marketing agreements, saying the decision goes too far and blocks the company from enforcing its own trademarks and keeping up with competitors.

Expert Analysis

  • The Good News For Nonprofits On Transit Benefit Compliance

    George Constantine

    Nonprofit organizations struggling to comply with a new tax on parking and public transit benefits for their employees received three pieces of somewhat good news on Dec. 10. Attorneys at Venable LLP provide the details.

  • DOD's New Rules Of The Road For 'Other Transactions'

    Stuart Turner

    On Dec. 3, the U.S. Department of Defense issued its broad "Other Transactions" guide for these sparsely regulated arrangements, defined in the negative as other than procurement contracts, grants or cooperative agreements. Though not mandatory, the guidance covers the waterfront of DOD's tools, providing helpful examples, definition and context, say attorneys at Arnold & Porter.

  • How The GDPR Changed Data Privacy In 2018

    Jessica Lee

    The European Union General Data Protection Regulation became enforceable on May 25, 2018, bringing in a flurry of privacy notice updates, the shutdown of certain EU-facing websites and advertising activities, and a good amount of heartburn for companies within its territorial scope, says Jessica Lee of Loeb & Loeb LLP.

  • The New Water Rule And Its Potential Ripple Effect

    Christopher Thomas

    If the Trump administration's proposal to dramatically reduce the number of U.S. waterways subject to Clean Water Act jurisdiction ultimately carries the day it will have a host of cascading consequences, say Christopher Thomas and Andrea Driggs of Perkins Coie LLP.

  • Merely A Setback For CFTC Market Manipulation Cases

    Daniel Chirlin

    The U.S. Commodity Futures Trading Commission last month suffered a stunning blow to its expansive interpretation of market manipulation in its case against DRW Investments. But this does not quite spell the end for such cases, says Daniel Chirlin of Walden Macht & Haran LLP.

  • Guest Feature

    The Subtle Art Of Fred Fielding

    Fred Fielding

    He was White House counsel to two presidents. When Reagan was shot, he explained the chain of command to a four-star general. And until a few years ago, many people still thought he was Deep Throat during the Watergate scandal. Fred Fielding of Morgan Lewis & Bockius may be the quintessential Washington insider. White and Williams attorney Randy Maniloff learned more.

  • How Brexit May Change UK Food Labeling Rules

    Ravi Randhawa

    Producers and distributors of food products in the U.K. will be pleased to know that, should there be a no-deal Brexit, they may not need to change food labels and packaging from day one, as the government is proposing grace periods for some required labeling changes, says Ravi Randhawa of Gowling WLG.

  • How Life Sciences Cos. Can Prepare For Legal And PR Crises

    Mark Goodman

    Life sciences companies are susceptible to a wide range of crises that could expose them to legal liability and destroy their reputations. Sometimes, however, the greatest risks will come not from the facts that led to a crisis, but from the company's response, say attorneys at Debevoise & Plimpton LLP.

  • Protecting Innovation While Justices Ponder Helsinn V. Teva

    David Gornish

    While the U.S. Supreme Court's upcoming decision in Helsinn Healthcare v. Teva Pharmaceuticals will certainly interest the patent community, a few best practices will go a long way toward rendering the outcome largely irrelevant for innovators engaged in early stage commercialization, says David Gornish of Eckert Seamans Cherin & Mellott LLC.

  • Opinion

    Ohio's Risky Foray Into Bitcoin: Part 2

    John Reed Stark

    By interacting with a cryptocurrency institution for tax payments, Ohio is exposing its operations to a potential cyberattack. In addition, the noxious mix of federal and state regulatory requirements creates a foggy compliance labyrinth, even for a U.S. state, says John Reed Stark of John Reed Stark Consulting LLC.