New Jersey’s longest-serving U.S. Attorney in five decades, Paul J. Fishman, is taking his 35 years of experience on both sides of the private-public fence to Arnold & Porter’s crisis management and strategic response team, the firm announced Monday.
The head of the U.S. Securities and Exchange Commission on Monday offered new snippets of what to expect from the agency's long-awaited plans to revise the fiduciary duty standard while also expressing exasperation with the slow rollout of the consolidated audit trail.
A Pennsylvania-based student loan servicer dodged a proposed class action Monday claiming it illegally converted federal teaching grants to loans, when an Ohio federal judge found allegations under the Racketeer Influenced and Corrupt Organizations Act and for unjust enrichment fell short of pleading requirements.
Akin Gump Strauss Hauer & Feld LLP has agreed to take up the defense of a computer analyst charged with trading on confidential merger information gleaned from a former Bank of America executive pro bono, according to notices filed Friday in New York federal court.
President Donald Trump on Monday issued an executive order banning transactions within the United States that involve Venezuela's new cryptocurrency, marking the administration’s latest attempt to escalate pressure on Venezuela President Nicolas Maduro’s beleaguered regime.
An SEC proposal to allow mutual funds to scale back on liquidity risk disclosures is being criticized by investor advocates as a concession to the fund industry and an assault on transparency, while some legal experts argue too much risk disclosure can be misleading and confusing.
Societe Generale SA on Monday said it has set aside €1 billion ($1.23 billion) to deal with investigations by U.S. authorities into benchmark rate rigging and transactions between the French lender and Libya’s sovereign wealth fund.
The U.S. Securities and Exchange Commission on Monday approved its largest ever whistleblower awards, agreeing to pay out roughly $83 million combined to three tipsters, who are represented by Labaton Sucharow LLP, according to the firm.
Singapore's bank regulator announced on Monday that it has fined two local arms of U.K.-based multinational bank Standard Chartered PLC a total of 6.4 million Singapore dollars ($4.9 million), the latest in a string of probes and penalties aimed at catching banks’ anti-money laundering failures.
Shortly after she joined PayPal in 2015, Wanji Walcott initiated her second pro bono program in the corporate legal realm, this time across the world. Here, the online payment company’s general counsel and senior vice president discusses with Law360 how she explains complicated legal matters to nonlawyers and which book she recommends to attorneys hoping to enhance their craft.
Shares of cybersecurity startup Zscaler Inc. more than doubled in a sizzling debut on Friday, one day after the technology “unicorn” priced an upsized $192 million initial public offering above its projected range, representing the largest of four IPOs during the week of March 12.
The owner of a company that helps employers provide legal services for their employees was charged with wire fraud in Pennsylvania federal court Friday for allegedly falsifying the company’s financial health to coax a $30 million line of credit out of potential lenders.
A Wilmington Trust Corp. backlog of unacknowledged, past due commercial loans included 142 debts worth $177.3 million that were six months to three-and-a-half years past due when 2009 ended, a witness said Friday during a Delaware fraud and securities trial for four bank executives.
The U.S. Securities and Exchange Commission has affirmed the Financial Industry Regulatory Authority’s order barring a former FINRA-member firm representative over harassing, threatening and deceptive communications to his former coworkers, saying the bar was neither excessive nor oppressive.
A California federal judge on Thursday tentatively dismissed with prejudice the latest attempt by investors to sue the holding company of BofI Federal Bank for allegedly making false or misleading statements to the public, finding the investors still hadn’t linked stock value losses to the alleged misrepresentations.
A group of investment funds seeking to hold Merrill Lynch, Deutsche Bank and Credit Suisse responsible for losses stemming from the infamous 2001 collapse of Enron Corp. have urged a New York federal judge to let their 15-year-old case proceed to trial, battling back against the banks’ latest efforts to slip the suit.
A California judge said Friday she’ll approve Wells Fargo Bank NA’s $27.5 million settlement resolving a consolidated action brought by the bank’s hourly Golden State bankers and sales representatives, who claim they were required to work more than 40 hours a week without overtime pay and were shorted meal breaks.
The last week has seen the Force India Formula One team sue Santander, the Fiat Group launch an action against its longtime pension scheme administrator and Squire Patton Boggs, and a Scipion fund take on a commodities warehouser. Here, Law360 looks at those and other new claims in the U.K.
A Fifth Circuit ruling vacating the U.S. Department of Labor’s fiduciary rule for retirement account advisers has created confusion across a broad swath of the U.S. investment landscape that will only be resolved once the DOL decides whether to drop the case or pursue it on appeal, legal experts said Friday.
A Florida federal court has frozen the assets of four alleged scammers accused of telling investors that they could turn $100 of digital currency into $80,000 per month, while setting up a pyramid scheme that enriched only themselves.
The decision by Venezuela’s state-owned oil company PDVSA to pursue claims in the U.S. over an alleged bribery scheme raises a number of legal and strategic issues not just for the defendants named in the suit, but also for PDVSA’s bondholders and creditors of the republic, say Richard Cooper and Boaz Morag of Cleary Gottlieb Steen & Hamilton LLP.
Proposed amendments to the Federal Rules of Civil Procedure Rule 23, which governs class actions, are set to take effect on Dec. 1, 2018, pending approval. The amendments would significantly alter class action litigation procedure from notice to settlement, says Niki Mendoza of Garden City Group LLC.
Regulators have recently increased their efforts in cracking down on spoofing, yielding an increasing number of criminal indictments and civil settlements. However, an important challenge in identifying spoofing is separating legitimate calculations from those that were intended to manipulate the market, say Ilan Guedj and An Wang of Bates White LLC.
Venmo’s settlement with the Federal Trade Commission over privacy concerns should serve as a cautionary tale for all software and application development companies that are seeking to create innovative and user-friendly products, says Jason Sarfati of Joseph Greenwald & Laake PA.
What is perhaps more interesting than the number of blockchain-related patent filings, or their subject matter, is the number of assignees for these patents, says Nelson Rosario of Marshall Gerstein & Borun LLP.
As financial services and fintech firms seek to reduce their vulnerability to cyberattacks and mitigate against regulatory and litigation exposure, one key inquiry is the extent to which a company’s cybersecurity controls are consistent with industry best practices. In this regard, a recent report from the World Economic Forum provides a valuable reference point, say Rishi Zutshi and April Collaku of Cleary Gottlieb Steen & Hamilton LLP.
Under the U.S. Department of Justice's new marijuana enforcement strategy, the DOJ is unlikely to begin prosecuting marijuana growers and distributors who are operating in compliance with state law. The DOJ will likely prosecute the most egregious violators of state law, say Gerald Sachs and Evan Shea of Venable LLP.
The Federal Reserve’s new leadership has made clear that while it supports certain changes to Dodd-Frank and the related regulations, it broadly supports the post-crisis regulatory framework. With that background, we focus on the Fed’s anticipated views of five areas where reform is possible, say attorneys with Sidley Austin LLP.
There's no reason for limiting unbundled legal services to family law or even pro se litigants. Wider adoption, especially by litigators, presents an opportunity to correct law's distribution and pricing problem, to make justice practically available to all, and to dethrone litigation as the "sport of kings," says New York-based trial lawyer David Wallace.
Given the mainstream use of bitcoin and the “staying power” of this cryptocurrency, bankruptcy practitioners need to prepare to see bitcoin as part of the assets in future bankruptcy cases. The volatility of bitcoin value, however, will require bankruptcy courts and parties to come up with creative solutions, say Erin Illman and Robert Cox of Bradley Arant Boult Cummings LLP.