Compliance

  • November 25, 2020

    Trump Says DOJ Can Stop Enviro Project Settlements

    The Trump administration told a Massachusetts federal court that it had the discretion to reach settlements as it saw fit, pushing to end a suit by environmental advocates that said the U.S. Department of Justice's policy banning environmental improvement projects in enforcement settlements is unlawful.

  • November 25, 2020

    FINRA Fines Wells Fargo Over Time Stamp Issue

    The Financial Industry Regulatory Authority levied a "books and records" fine at a Wells Fargo unit for the second time this month on Wednesday, this time alleging that its representatives failed to enter accurate order receipt times in situations that required manual entry. 

  • November 25, 2020

    Coronavirus Regulations: A State-By-State Week In Review

    Ahead of the long weekend, when Americans are most known for gathering and traveling, Thanksgiving-minded governors laid down more restrictions as COVID-19 cases continued surging over the past week.

  • November 25, 2020

    Cannabis Developer To Pay SEC $192K Penalty In Fraud Suit

    A California federal judge ordered a businessman to pay over $192,000 to settle U.S. Securities and Exchange Commission claims that he was involved in a scheme that bilked more than 400 investors out of $25.5 million to ostensibly finance two marijuana-related businesses.

  • November 25, 2020

    EPA Says Power Plants Don't Need Superfund Safety Nets

    The U.S. Environmental Protection Agency on Wednesday said it will not require power plants, chemical manufacturers, or petroleum-based and coal-based product manufacturers to set aside money to cover pollution cleanups that may result from their operations.

  • November 24, 2020

    Yellen At Treasury Could Set Stage For More Active FSOC

    The selection of former Federal Reserve Chair Janet Yellen to serve as treasury secretary in the incoming Biden administration could position the Financial Stability Oversight Council to step up its scrutiny of the nonbank sector, a corner of the financial system that is drawing renewed concerns about its potential fragility.

  • November 24, 2020

    Commissioner Blasts CFTC's 'Incomplete' Oil Crash Report

    A member of the U.S. Commodity Futures Trading Commission said Tuesday the agency's long-awaited report on April's historic oil futures crash failed to provide a "meaningful understanding" of what caused prices to plunge into negative territory.

  • November 24, 2020

    Barnes & Thornburg Adds Ex-Federal Prosecutor As Partner

    Barnes & Thornburg LLP announced Tuesday that former U.S. Attorney Joshua J. Minkler has joined its firm as a partner.

  • November 24, 2020

    Patchy DOL Reports Mean Ineligible Cos. May Win Gov't Deals

    The U.S. Department of Labor's failure to consistently inform other agencies about contractors that violate a prevailing wage law means federal contractors may be winning deals they shouldn't be eligible for, according to a watchdog report.

  • November 24, 2020

    NLRB Must Face Claim It Surveilled Its Workers' Union

    The National Labor Relations Board must face a grievance alleging a manager snooped on a union official who alerted a reporter to a labor dispute, the Federal Labor Relations Authority said Tuesday, rejecting the agency's argument that the union's complaint is invalid.

  • November 24, 2020

    Water Permits Voided For $2B Wash. Methanol Refinery

    A Washington federal court has struck down water quality permits granted by the U.S. Army Corps of Engineers to an export terminal for a 90-acre, $2 billion methanol manufacturing project in the state, ruling the approvals were issued without properly considering the full indirect emissions of the project.

  • November 24, 2020

    Coinbase Ditches 1099-K Form For Next Year

    Coinbase Inc., which is a virtual currency exchange, will not provide Forms 1099-K to its U.S.-based customers next year, the company said in updated guidance published Tuesday. 

  • November 24, 2020

    FTC's Zoom Deal Signals New Data Security Plan Under Dems

    The Federal Trade Commission's two Democrats offered a detailed strategy for boosting the agency's data security and privacy enforcement approach in an objection to a recent nonmonetary settlement against Zoom, laying out a plan that could soon come to fruition as their party readies to take the helm of the agency next year.

  • November 24, 2020

    States, Cities Seek Demise Of Trump's Narrowed Water Rule

    A group of states on Monday asked a federal judge to scrap the Trump administration's rule narrowing the scope of the Clean Water Act's jurisdiction, saying the government failed to study how excluding many previously protected waters would harm water quality and step on states' rights.

  • November 24, 2020

    How Firms Can Prep For A More 'Aggressive' SEC

    With a Joe Biden presidency around the corner and U.S. Securities and Exchange Commission Chairman Jay Clayton officially announcing he'll depart by year-end, industry attorneys believe in-house legal and compliance professionals at financial firms should expect a more aggressive incoming enforcement regime.

  • November 24, 2020

    Colo. Enacts Stricter Rules For Oil And Gas Drillers

    Colorado oil and gas regulators on Monday adopted an overhaul of drilling rules to require greater consideration of public health and environmental impacts, including drilling further away from homes and schools and limiting venting and flaring from gas wells.

  • November 24, 2020

    SEC Proposes Easing Stock Sales Rules For 'Gig' Workers

    A divided U.S. Securities and Exchange Commission proposed rules on Tuesday easing how private companies can compensate workers through stock, including short-term "gig" workers who are not traditional employees and depend on equity absent a steady paycheck.

  • November 24, 2020

    SG Tells Justices Calif. Donor Privacy Law Unconstitutional

    A federal appeals court erred in upholding a California law requiring charitable organizations to disclose tax information about their largest donors because it infringes on the First Amendment right of association, the U.S. solicitor general told the U.S. Supreme Court.

  • November 24, 2020

    OCC Hits JPMorgan With $250M Fine Over Fiduciary Biz

    The Office of the Comptroller of the Currency said Tuesday that it has imposed a $250 million fine on JPMorgan Chase Bank, citing deficiencies in the bank's internal controls and audit program for its massive fiduciary business.

  • November 23, 2020

    GM Must Recall 6M Trucks, SUVs With Takata Air Bags

    The National Highway Traffic Safety Administration ordered General Motors on Monday to recall 5.9 million 2007-14 full-size pickup trucks and SUVs due to defective Takata air bags that may explode metal shrapnel when deployed, rejecting the automaker's arguments that vehicle designs render the air bags' safety risks "inconsequential."

  • November 23, 2020

    Trade Groups Press Case In CFPB Payday Rule Suit

    Two payday lender trade groups told a Texas federal judge that the Consumer Financial Protection Bureau still hasn't shown why it should be allowed to move forward with the remainder of its 2017 payday lending rule, pressing to bring their more than two-year-old court challenge to a close.

  • November 23, 2020

    SEC Urges China-Based Issuers To Beef Up Risk Warnings

    The U.S. Securities and Exchange Commission on Monday urged China-based issuers to fully disclose risks regarding the reliability of their financial statements and related legal matters, marking the latest attempt by regulators to answer concerns that investors may not be getting full information.

  • November 23, 2020

    CFPB Insists Student Loan Biz And Exec Must Cough Up $53M

    The U.S. Consumer Financial Protection Bureau asked a California district judge on Monday — for a second time — to make a business owner and his firm pay more than $53 million for their role in an alleged $11.8 million student debt relief scheme.

  • November 23, 2020

    DC Circ. Mulls Gov't Power In Rancher Fight Over Tribal Water

    The D.C. Circuit is set to decide if a group of Oregon ranchers can challenge the U.S. Bureau of Indian Affairs' enforcement of tribal water rights in their area, and the case may come down to whether the panel is convinced that the government must co-sign tribal calls for enforcement.

  • November 23, 2020

    DOJ Says Visa Pushing 'Infeasible' Merger Trial Timeline

    The U.S. Department of Justice has blasted Visa and Plaid for pushing an "infeasible" timeline for a trial over their proposed $5.3 billion tie-up that is seven months sooner than the agency's preferred September start date.

Expert Analysis

  • Ethics Reminders As Employees Move To Or From Gov't

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    Many organizations are making plans for executives to go into government jobs, or for government officials to join a private sector team, but they must understand the many ethics rules that can put a damper on just how valuable the former employee or new hire can be, say Scott Thomas and Jennifer Carrier at Blank Rome.

  • Expect 2021 SEC To Turn Hawkish On Auditor Enforcement

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    President-elect Joe Biden's U.S. Securities and Exchange Commission will almost certainly usher in a reversal of recent years' slow pace of auditor enforcement — just 11 actions this year — back up toward the levels of the Obama administration's Operation Broken Gate, say Charles Smith and Andrew Fuchs at Skadden.

  • Carbon Capture Policy Should Be Aligned For Global Adoption

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    With support from both Republicans and Democrats, carbon capture, utilization and storage technology as a tool for decarbonization may be poised for domestic growth — but the U.S. and the European Union must coordinate their policies to promote a global approach, say Hunter Johnston and Jeff Weiss at Steptoe & Johnson.

  • Surveying Drug Pricing Reform: The Latest State Activity

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    Attorneys at Ropes & Gray explore four types of high-impact drug pricing initiatives at the state level — pricing transparency, pharmacy benefit manager controls, drug importation and value-based arrangements — examining how the current wave of reforms may affect drug companies' business operations.

  • A Key To Helping Clients Make Better Decisions During Crisis

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    As the pandemic brings a variety of legal stresses for businesses, lawyers must understand the emotional dynamic of a crisis and the particular energy it produces to effectively fulfill their role as advisers, say Meredith Parfet and Aaron Solomon at Ravenyard Group.

  • NY Auto-Renewal Law Raises Compliance, Litigation Concerns

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    A new law in New York that requires businesses to obtain consumer consent for automatic contract renewals could warrant extensive revisions to existing terms and conditions, and courts could eventually create a private right of action if they follow California’s trend of permitting individuals to sue under separate statutes, say attorneys at Faegre Drinker.

  • Where Data Privacy And CFPB Are Headed Under Biden

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    Data privacy is likely to be a key area of legislative and enforcement focus for President-elect Joe Biden, and consumer financial protection is expected to be an immediate priority due to the economic impact of the pandemic, with the most drastic shift likely to occur at the Consumer Financial Protection Bureau, say attorneys at Gibson Dunn.

  • A Wage And Hour Compliance Reminder For Nonprofit Boards

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    As many nonprofits face budget shortfalls due to the pandemic, the one-year anniversary of the Massachusetts Supreme Judicial Court’s decision in Lynch v. Crawford reminds board-level volunteers that they could be found personally liable for wage violations, despite qualified immunity provided by federal and state law, say attorneys at Casner & Edwards.

  • How Federal, State Plans Could Bring Carbon Capture To US

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    Proposals from President-elect Joe Biden, a pair of bills currently pending in Congress and a low-carbon fuels program in California provide insights into how carbon capture, utilization and storage technology could be integrated into the fight against climate change in the U.S., say Hunter Johnston and Jeff Weiss at Steptoe.

  • DOJ's Visa-Plaid Challenge Shows Email Can Imperil A Deal

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    The U.S. Department of Justice used a trove of internal Visa email and other communications to show how the $5.3 billion Plaid merger might limit competition — providing a cautionary tale of how internal documents can endanger a transaction that shows few antitrust concerns on the surface, says Tammy Zhu at Medallia.

  • Mitigating Supply Chain Risks Related To Uighur Forced Labor

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    In light of recent U.S. actions concerning China’s purported forced labor of Uighurs — an ethnic minority long targeted by the Chinese government — companies should conduct human rights due diligence, implement grievance mechanisms to capture abuses in their supply chains, and review supplier contracts, says Betsy Popken at Orrick.

  • 6 Best Practices For Banks Serving The Marijuana Industry

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    As more states legalize marijuana, financial institutions with marijuana-related business customers should implement robust and nuanced compliance programs, and those that do not want to serve the industry should have policies in place for determining whether existing customers are engaged in marijuana-related activities, say attorneys at Venable.

  • What To Expect From DOJ Enforcement Under Biden

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    Companies shouldn't fear a rapid uptick in overall corporate enforcement actions by the U.S. Department of Justice under a new Democratic administration, but should anticipate a shift in focus away from immigration cases toward COVID-19-related fraud and civil rights reform, say Sandra Moser and Kenneth Polite at Morgan Lewis.

  • Ethics Considerations For Law Firms Implementing AI

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    Richard Finkelman and Yihua Astle at Berkeley Research Group discuss the ethical and bias concerns law firms must address when implementing artificial intelligence-powered applications for recruiting, conflict identification and client counseling.

  • Gov't Contractors Can Promote Diversity Despite Trump Order

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    While federal contractors are required to comply with the Trump administration’s recent ban on certain racial sensitivity trainings, it’s likely that President-elect Joe Biden will overturn the restrictions after taking office, and there are many ways to advance diversity and inclusion agendas in the meantime, says Allison Powers at Barack Ferrazzano.

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