Banking

  • October 19, 2020

    Fidelity Blasted At Trial For 'Blindly Dumping' Donated Shares

    Fidelity Investments' charitable giving arm made false promises to philanthropists to secure their donation of stock and then exhibited "gross incompetence" by "blindly dumping" the shares, a California federal magistrate judge heard Monday during opening arguments in a closely watched bench trial over who controls gifts made to donor-advised funds.

  • October 19, 2020

    FinCEN Urges Vigilance On Human Trafficking Amid COVID-19

    The Financial Crimes Enforcement Network has issued new guidance gleaned from data collected over the past six years to help financial institutions alert authorities to potential human trafficking, noting that COVID-19 has only exacerbated the risks.

  • October 19, 2020

    Investor To Ask 2nd Circ. To Revive Benchmark-Rigging Suit

    An investor has let a New York federal court know he plans to appeal to the Second Circuit an August ruling that squashed his suit against numerous major banks for allegedly plotting to fix interbank exchange rates, including one tied to the Japanese yen.

  • October 19, 2020

    11th Circ. Revives Hedge Fund CFO's Quest For Assets

    An Eleventh Circuit panel vacated and remanded a decision by a Georgia judge who the panel said had denied due process to the chief financial officer of a wealth management company whose CEO defrauded investors out of more than $24 million.

  • October 19, 2020

    Ill. Judge Axes Ex-Merrill Lynch Trader's Spoofing Charge

    An Illinois federal judge has narrowed the government's case against two former Merrill Lynch traders accused of deceptive trading in the precious metals futures market, throwing out the criminal spoofing charge facing one of the traders after ruling it can't be prosecuted as a scheme.

  • October 19, 2020

    Preparing The Next Generation Of Female Trial Lawyers

    To build the ranks of female trial attorneys, law firms must integrate them into every aspect of a case — from witness preparation to courtroom arguments — instead of relegating them to small roles, says Kalpana Srinivasan, co-managing partner at Susman Godfrey.

  • October 19, 2020

    Mentorship Is Key To Fixing Drop-Off Of Women In Law

    It falls to senior male attorneys to recognize the crisis female attorneys face as the pandemic amplifies an already unequal system and to offer their knowledge, experience and counsel to build a better future for women in law, says James Meadows at Culhane Meadows.

  • October 19, 2020

    What BigLaw Can Do To Actually Retain Female Attorneys

    Even as BigLaw firms are recruiting women into their ranks in larger numbers, their presence in leadership and equity partnerships remains stubbornly low. Here’s a look at why this is happening — and what firms can do.

  • October 19, 2020

    Female Attorneys Gain Ground In Battle For Clerkships​

    More female attorneys are landing highly sought-after U.S. Supreme Court clerkships, and the experience can turbocharge their careers.

  • October 19, 2020

    These Firms Have The Most Women In Equity Partnerships

    At most U.S. law firms, equity partnerships are still overwhelmingly male, but women at some firms are starting to shake up that reality and smash the glass ceiling that has prevented them from advancing to the uppermost ranks. Here are this year’s Ceiling Smashers — the firms that are outpacing their peers as the legal industry works toward closing the gender gap in its top ranks.

  • October 19, 2020

    Wearing Natural Hair In BigLaw

    In this video, four Black women share their thoughts about wearing natural hair as BigLaw attorneys. In order of appearance, the attorneys are: Rukayatu Tijani, founder of Firm for the Culture and a former BigLaw associate; Delilah Clay, legislative & regulatory advisor at Manatt Phelps & Phillips LLP; Rachel Boyce, associate at Cooley LLP; and Crystal Nwaneri, associate at Fenwick & West LLP.

  • October 19, 2020

    Visa, Black Card Spar Over Virus Safety In $600M IP Fight

    The credit card loyalty program Black Card has called on a federal judge to let its $600 million licensing contract dispute with Visa go before a Wyoming jury next month as planned, citing Judge Rodney Gilstrap's decision to hold a jury trial in Texas in July.

  • October 19, 2020

    NY Court Trims Docs For Handover In NY AG's Trump Probe

    A New York judge reversed course and decreased the number of documents a former Trump Organization attorney must produce to New York's attorney general in a probe into whether President Donald Trump inflated asset values.

  • October 19, 2020

    Powell Says Fed Still Mulling Digital Dollar But Not Committed

    Federal Reserve Chair Jerome Powell said Monday the central bank is still weighing the pros and cons of issuing a government-backed digital currency, noting he feels it is "more important for the United States to get it right than to be first."

  • October 19, 2020

    Justices Warned Of 'Upheaval' In FHFA Constitutionality Case

    The outside attorney tasked with defending the Federal Housing Finance Agency's constitutionality has warned the U.S. Supreme Court of the potential for "dramatic upheaval" if the justices invalidate the housing regulator's single-director independent structure, arguing that such a ruling could expose the Federal Reserve and other parts of the federal government to legal challenge.

  • October 19, 2020

    Croatia Faces Arbitration Over Loan Currency Conversion

    Croatia has been hit with an investment treaty claim by a Hungarian bank that alleges it is owed some $35 million after the country forced the conversion of loans issued in Swiss francs to euros, the bank said on Monday.

  • October 19, 2020

    Trump Asks Justices To Grant Bid To Halt Vance Subpoena

    President Donald Trump asked the U.S. Supreme Court again on Monday to halt enforcement of a grand jury subpoena for his tax and other records issued by the Manhattan district attorney's office, saying the records request risked public disclosure.

  • October 19, 2020

    11th Circ. Judge Rips Firm's Letter In Debt Collection Case

    A debt collection letter from Scott & Associates PC seemed to be "riddled with inconsistencies," an Eleventh Circuit judge said Monday during oral arguments about whether the letter's recipient should be able to pursue a proposed class action against the firm.

  • October 19, 2020

    Indicted Harvard Professor Can't See Grand Jury Minutes

    A Harvard professor charged with lying about his ties to China and additional tax offenses will not be able to review secret grand jury minutes despite his claim that prosecutors' charged rhetoric about spying may have tainted the proceedings.

  • October 19, 2020

    FinCEN Hits Bitcoin Service Operator With $60M Fine

    The Financial Crimes Enforcement Network on Monday levied a $60 million civil money penalty against the head of two bitcoin businesses for violations of Bank Secrecy Act regulations, stating that he facilitated illicit activity including drug transactions and child pornography by operating in the "darkest spaces of the internet." 

  • October 19, 2020

    7 Questions For AML Task Force President Marcus Pleyer

    Marcus Pleyer, the new president of the Financial Action Task Force, talks to Law360 about his priorities, including the risks posed by crypto-assets and the role of artificial intelligence in enforcement.

  • October 16, 2020

    In Their Own Words: Being A Woman In BigLaw

    Firms are recruiting more women than previously to their ranks, but still have trouble retaining them at the same rate as men. Law360 asked three female attorneys who left BigLaw about how firms could better serve the women who work there. Here's what they have to say.

  • October 16, 2020

    Law360's Glass Ceiling Report: What You Need To Know

    While law firms continue to tout efforts to close the gender gap in their ranks, parity is still a distant goal, our annual survey shows.

  • October 16, 2020

    Glass Ceiling Report: How Does Your Firm Measure Up?

    Law firms have long struggled to clear the barriers women face in the legal industry, particularly when it comes to accessing the top ranks. Law360's 2020 Glass Ceiling Report looks to shed light on the progress firms have made and where they aim to be.

  • October 16, 2020

    Investors Bank Accused of Shorting Branch Workers On OT

    Investors Bank forced bank branch employees to undergo security checks and perform opening procedures off-the-clock, according to a proposed wage-and-hour collective and class action filed Friday in New Jersey federal court.

Expert Analysis

  • Calculating FCA Damages From PPP Fraud May Be Tricky

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    The Paycheck Protection Program will undoubtedly give rise to False Claims Act enforcement, but the intangible nature of some contract benefits and differences in contract valuation between the circuits raise uncertainty about damages calculations, say Ellen London at Alto Litigation and Derek Adams at Potomac Law.

  • Guest Feature

    5 Ways Firms Can Avoid Female Atty Exodus During Pandemic

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    The pandemic's disproportionate impact on women presents law firms with a unique opportunity to devise innovative policies that will address the increasing home life demands female lawyers face and help retain them long after COVID-19 is over, say Roberta Liebenberg at Fine Kaplan and Stephanie Scharf at Scharf Banks.

  • Highlights From 'SEC Speaks' 2020

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    At its recent virtual SEC Speaks conference, the U.S. Securities and Exchange Commission emphasized efforts to adapt enforcement to emerging risks amid the pandemic, and warned companies not to use COVID-19 to cover up past mistakes or newly discovered ones, say attorneys at Perkins Coie.

  • How The State And Local Regulatory Landscape Is Expanding

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    States and localities are employing creative methods to emerge as key players in regulatory enforcement traditionally dominated by the federal government, including False Claims Act investigations, unfair and deceptive acts and practices claims, and pharmaceutical sector regulation, say attorneys at Troutman Pepper.

  • What To Know About The First Wave Of CARES Act Litigation

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    James Murphy and Daniel Payne at Murphy & McGonigle analyze the first six months of CARES Act litigation and provide insight into how early cases are progressing and who seems to be winning.

  • UK Pandemic Recovery Offers Opportunities For Green Cos.

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    The U.K. government's plans to use regulations and funding to accelerate the transition to a green economy after the COVID-19 pandemic promise significant opportunities for companies and investors focused on clean technologies, says Samantha Deacon at Goodwin.

  • Case Law Likely Undercuts DOL's Microsoft Diversity Probe

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    The U.S. Department of Labor is unlikely to uncover liability in its recent investigation into Microsoft’s attempt to hire more Black managers and executives, because Title VII case law supports private employers' consideration of race among other factors to enhance diversity, says Conor Ahern at Sanford Heisler.

  • DOJ Guidance, Indictment Suggest Expanding Crypto Focus

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    Read together, the U.S. Department of Justice's recently released cryptocurrency guidance and unsealed BitMEX indictment send a strong message that the government is expanding efforts to combat use of digital assets and blockchain technology for criminal purposes, say Benjamin Klein and Deborah Meshulam at DLA Piper.

  • Opinion

    Lawyers Must Fight Voter Suppression This Election Season

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    Lawyers should use their unique skill sets, knowledge and spheres of influence to fight burdensome ID requirements and other voter suppression tactics that may influence the 2020 elections, and to participate in potential post-election litigation, say CK Hoffler and Allyce Bailey at the National Bar Association.

  • Why Sustainable Finance Is On The Rise

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    With green bonds, green loans and sustainability-linked debt instruments appearing with increasing prevalence in the bond and loan markets, opportunities within sustainable finance look set to continue their upward trajectory as environmental, social and governance factors increase in importance for both companies and investors, say attorneys at Vinson & Elkins.

  • Why Online Mediation May Be Here To Stay

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    Videoconferenced mediation offers several advantages and helps cases settle faster and more cordially, making it hard to imagine going back to logistically difficult in-person dispute resolution after COVID-19 restrictions are gone, says Sidney Kanazawa at ARC.

  • States' Evolving Patchwork Of Insurance Data Security Laws

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    With key differences in state approaches to insurance data security regulation beginning to emerge, even small and bank-affiliated insurance entities that are granted partial exemptions in some jurisdictions will likely have to develop information security programs eventually, say attorneys at McIntyre & Lemon.

  • CFTC Climate Change Report Highlights Costs Of Inaction

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    The Commodity Futures Trading Commission's recent report on climate change and financial markets makes it clear that while government regulation of carbon dioxide pollution may have negative consequences, letting greenhouse gas emissions go unaddressed could harm investors, asset managers and financial institutions, says Nicholas Fox at Goldberg Segalla.

  • Clients Have The Power To Promote Wellness At Law Firms

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    Law firm clients can play a role in lowering mental distress in the legal profession by seeking lawyer wellness data from firms and factoring those responses into outside counsel hiring decisions, says Jonathan Prokup at Cigna.

  • Opinion

    Appellate Courts Should Welcome Well-Crafted Amicus Briefs

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    A Seventh Circuit judge's recent order granting leave for three organizations to file amicus curiae briefs in Prairie Rivers Network v. Dynegy Midwest Generation is a reminder that relevant, nonduplicative amicus briefs can provide courts with helpful perspective, important facts and legal arguments, says Lawrence Ebner at Capital Appellate Advocacy.

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