Expert Analysis

• Sizing Up The Rescheduling Hurdles Medical Pot Cos. Face

  

  The Justice Department’s recent lowering of certain medical marijuana products to Schedule III means operators — particularly those simultaneously offering federally illegal adult-use cannabis — must implement greater structural discipline to navigate an increasingly fragmented legal landscape if they hope to benefit from new tax deductions and access to capital, say attorneys at Akerman.

• Mitigating Risks Under New Pay Disclosure Laws In Maine, Va.

  

  To prepare for pay transparency laws that go into effect this summer in Maine and Virginia, employers should consider comprehensive audits of existing recruiting, compensation and recordkeeping practices — and be prepared to uncover disparities that create both legal and employee relations risks, say attorneys at Morgan Lewis.

• 2nd Circ.'s Cantero Redo Complicates Mortgage Escrow Issue

  

  The Second Circuit's recent decision in Cantero v. Bank of America reflects the absence of definitiveness in mortgage escrow preemption jurisprudence, leaving lenders to navigate conflicting state rules and pricing challenges amid a deepening circuit split, say attorneys at Sullivan & Cromwell.

• Looking Beyond Calif. Climate Laws As NY Bills Advance

  

  California's climate disclosure legislation has made emissions and risk reporting a practical reality — and now that New York is working on its own climate disclosure bills, companies must confront a future in which compliance systems will need to be ready for multiple states' reporting regimes, says Thierry Montoya at FBT Gibbons.

• Cuba Sanctions Shift Puts Foreign Cos. In OFAC's Crosshairs

  

  A recent executive order marks an extreme shift for foreign companies whose Cuban dealings have no relation to the U.S. and are entirely lawful under the laws of their home jurisdictions, such that their existing ring-fence protocols no longer offer protection from the Office of Foreign Assets Control’s secondary sanctions, says Jeremy Paner at Hughes Hubbard.

• 5 Rules In 10 Weeks: Inside Genius Act's Implementation Blitz

  

  Regulators have proposed five Genius Act rules in a striking span of 10 weeks, building a stablecoin framework that, with the Office of the Comptroller of the Currency at its operational center, will shape oversight and force issuers, banks and fintechs to take action as deadlines approach, say attorneys at Cahill.

• SEC Enforcement Has Continued Its Asset Management Focus

  

  While the total number of U.S. Securities and Exchange Commission enforcement actions is down, certain novel theories of liability have been abandoned, and the SEC has embraced a back-to-basics posture, most of the regulatory risks for asset managers that existed in the prior commission have not gone away, say attorneys at Weil.

• 5 Risks For US Cos. From New EU Product Liability Directive

  

  When the European Union's revised Product Liability Directive takes effect this year, it will fundamentally reshape product liability litigation across all EU member states — so U.S.-based companies operating in Europe should prepare now for broader discovery rules, narrower attorney-client privilege and heightened forum-shopping risks, say attorneys at DLA Piper.

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  NY Times Word Puzzles Make Me A Better Lawyer

  

  Every morning I let The New York Times humble me with word games, which offer a chance to recalibrate my brain before the day's chaos arrives and remind me that a solution — whether to a puzzle or employment law issue — almost always exists once I find the right angle, says Amy Epstein Gluck at Pierson Ferdinand.

• Engaging With FDA's New Complete Response Letter Policy

  

  A citizen petition filed with the U.S. Food and Drug Administration last month puts renewed focus on the agency's practice of releasing complete response letters in near real time, materially altering the context in which life sciences companies communicate with investors regarding regulatory developments, say attorneys at Debevoise.

• Data Center Developer Lessons From Maine's Vetoed Ban

  

  The regulatory and political dynamics that recently led Maine’s governor to veto a popular bipartisan bill proposing a temporary data center development ban offer a useful template that developers can use to help their projects survive other states' attempts at moratoriums, say attorneys at Thompson Hine.

• Revised Fed Principles Balance Risk And Remediation

  

  The Federal Reserve's recently updated supervisory principles sharpen standards for enforcement actions while rewarding self-identification and remediation, signaling a more transparent approach that could reduce uncertainty and reshape how banks manage examination risk and regulator engagement going forward, say attorneys at Davis Wright.

• Big Issues Linger After Senate Prediction Market Trading Ban

  

  Whether the Senate can — or should — extend prediction market trading restrictions beyond itself will test not only the boundaries of insider trading law, but also the structural limits of legislative power in an era where information itself has become a tradable asset, say attorneys at Benesch.

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  Law School's Missed Lesson: Diagnose Before Arguing

  

  Law school often skips over explicitly teaching students how to determine what kind of problem a case presents before they commit to a particular doctrinal path, which risks building arguments that are internally coherent but externally misaligned, says Melanie Oxhorn at Kobre & Kim.

• Trump's Psychedelics EO Creates A Regulatory Collision

  

  Sponsors pursuing U.S. Food and Drug Administration approval for psychedelic drug access must tackle how to generate regulatory-grade safety and efficacy data in controlled trials when President Donald Trump's recent executive order on psychedelics mandates uncontrolled access through Right to Try, say Kimberly Chew at Husch Blackwell and Odette Hauke at Odette Alina.