Expert Analysis

• Navigating Privilege Law Patchwork In Dual-Purpose Comms

  

  Three years after the U.S. Supreme Court declined to resolve a circuit split in In re: Grand Jury, federal courts remain split as to when attorney-client privilege applies to dual-purpose legal and business communications, and understanding the fragmented landscape is essential for managing risks, say attorneys at Covington.

• What Changed For Healthcare Transaction Law In 2025

  

  Though much of the legislation introduced last year to expand state scrutiny of healthcare transactions did not pass, investors should pay close attention to the overarching trends, which are likely to continue in this year's legislative sessions, say attorneys at Ropes & Gray.

• 5 Advertising Law Trends That Will Shape 2026

  

  The legal landscape for advertisers will grow only more complex this year, with ongoing trends including a federal regulatory retreat, more aggressive action by the states, a focus on child privacy and expanded scrutiny of "natural" claims, say attorneys at Reed Smith.

• Decoding The SEC's Plans To Revitalize The US IPO Market

  

  Chairman Paul Atkins' recent speech showcased the U.S. Securities and Exchange Commission's plans to ease certain disclosure burdens, rein in politicized shareholder voting and mitigate litigation risk, which could encourage more U.S. companies to seek public listings stateside and make U.S. stock exchanges more competitive for foreign companies, say attorneys at Baker McKenzie.

• Expect State Noncompete Reforms, FTC Scrutiny In 2026

  

  Employer noncompete practices are facing intensified federal scrutiny and state reforms heading into 2026, with the Federal Trade Commission pivoting to case-by-case enforcement and states continuing to tighten the rules, especially in the healthcare sector, say attorneys at DLA Piper.

• Cannabis Industry Faces An Inflection Point This Year

  

  Cannabis industry developments last year — from the passage of a new wholesale tax in Michigan, to an executive order accelerating the federal rescheduling process — presage a more mature phase of legalization this year, with hardening expectations and enforcement to come, says Alex Leonowicz at Howard & Howard.

• Easing Equity Research Firewall Shows SEC Open To Updates

  

  The U.S. Securities and Exchange Commission’s recent agreement to modify a decades-old settlement meant to limit investment bankers’ influence over research analysts within major broker-dealer firms reflects a shift toward a commission that recognizes how rules can be modernized to lighten compliance burdens without eliminating core safeguards, say attorneys at Ropes & Gray.

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  Fly-Fishing Makes Me A Better Lawyer

  

  Much like skilled attorneys, the best anglers prize preparation, presentation and patience while respecting their adversaries — both human and trout, says Rob Braverman at Braverman Greenspun.

• 4 Ways GCs Can Manage Growing Service Of Process Volume

  

  As automation and arbitration increase the volume of legal filings, in-house counsel must build scalable service of process systems that strengthen corporate governance and manage risk in real time, says Paul Mathews at Corporation Service Co.

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  NY Banking Brief: All The Notable Legal Updates In Q4

  

  In the fourth quarter of last year, New York state enacted several developments that affect financial services regulation and business, cementing upcoming compliance obligations including cybersecurity best practices and retail stores' cash management, says Chris Bonner at Barclay Damon.

• SDNY Atty Signals Return To Private Fund Valuation Scrutiny

  

  Recent remarks by the U.S. Attorney for the Southern District of New York — hinting that regulators are renewing their focus on private fund advisers who overvalue portfolio assets to drive up investor fees — should prompt firms to review their valuation methodologies and address potential conflicts of interest now, say attorneys at Debevoise.

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  The Law Firm Merger Diaries: Forming Measurable Ties

  

  Relationship-building should begin as early as possible in a law firm merger, as intentional pathways to bringing people together drive collaboration, positive client response, engagements and growth, says Amie Colby at Troutman.

• A Look At EEOC Actions In 2025 And What's Next

  

  President Donald Trump issued several executive orders last year that reshaped policy at the U.S. Equal Employment Opportunity Commission, and with the administration now controlling a majority of the commission, the EEOC may align itself fully with orders addressing disparate impact and transgender issues, say attorneys at Jones Day.

• 5 E-Discovery Predictions For 2026 And Beyond

  

  2026 will likely be shaped by issues ranging from artificial intelligence regulatory turbulence to potential evidence rule changes, and e-discovery professionals will need to understand how to effectively guide the responsible and defensible adoption of emerging tools, while also ensuring effective safeguards, say attorneys at Littler.

• Where States Jumped In When SEC Stepped Back In 2025

  

  The state regulators that picked up the slack when the U.S. Securities and Exchange Commission scaled back enforcement last year should not be underestimated as they continue to aggressively police areas where the SEC has lost interest and probe industries where SEC leadership has actively declined to intervene, say attorneys at Morgan Lewis.