Compliance

  • January 18, 2021

    FTC's Chopra Gets Biden Nod To Become Next CFPB Director

    President-elect Joe Biden said Monday that he plans to nominate Rohit Chopra, a Democratic member of the Federal Trade Commission, to serve as the next director of the Consumer Financial Protection Bureau, a selection that consumer advocates are welcoming as a sign of tougher industry scrutiny ahead.

  • January 15, 2021

    Novo Joins Challenge To HHS Pharma Discount Opinion

    Danish drugmaker Novo Nordisk Inc. on Friday joined a slew of other pharmaceutical companies challenging the U.S. Department of Health and Human Services' view that drugmakers must give discounts to pharmacies contracting with hospitals that serve low-income areas.

  • January 15, 2021

    Trump Auto Emissions Rollback Faces Heat From All Sides

    Foes of the Trump administration's rollback of vehicle greenhouse gas emissions and fuel-economy standards urged the D.C. Circuit to undo the change, with environmental and energy groups saying the rollback went too far while a deregulation supporter argued it didn't go far enough.

  • January 15, 2021

    OCC Defends Valid-When-Made Rule In State AGs' Suit

    The Office of the Comptroller of the Currency has urged a California federal court to reject an effort by California and two other states to block the agency's valid-when-made rule, arguing the rule was well within bounds as an attempt to mitigate legal uncertainty surrounding interest rate transferability.

  • January 15, 2021

    Man Impersonated Son To Defraud Investor Clients, SEC Says

    The U.S. Securities and Exchange Commission on Friday filed suit against a father-son duo behind a California wealth management firm, accusing the father of impersonating his son to advise clients despite being banned from broker-dealer platforms.

  • January 15, 2021

    Virus Didn't Compromise ComEd Grand Jury, Feds Say

    Illinois federal prosecutors slammed a bid by former Commonwealth Edison Co. executives and lobbyists to access grand jury selection materials in their bribery case, arguing the request is based on the "mistaken conjecture" that additional jurors were improperly selected during the coronavirus pandemic. 

  • January 15, 2021

    Excellus To Pay $5.1M In HHS Deal Over Data Hack

    Excellus will fork over $5.1 million to the federal government and do a rigorous risk analysis as part of a deal to resolve a probe into a massive breach of health data, the U.S. Department of Health and Human Services said Friday.

  • January 15, 2021

    NY, FTC Lead Charge To Expand Biometric Privacy Shields

    New York lawmakers and the Federal Trade Commission are the latest to step up pressure on companies to be upfront with consumers about the use of their biometric data, signaling that more laws and regulatory scrutiny are expected for the increasingly popular technology, attorneys say. 

  • January 15, 2021

    CFPB Accuses Mortgage Co. Of Lending, Consumer Violations

    The Consumer Financial Protection Bureau sued mortgage company 1st Alliance Lending in Connecticut federal court Friday for alleged violations of lending and consumer laws, including misleading consumers about whether they would qualify for refinances and not informing them of credit denials.

  • January 15, 2021

    Encompass Health Squashes Doctor's Retaliation Claims

    The former director of an Encompass Health Corp. hospital lost his retaliation claims in Florida federal court Friday, despite his False Claims Act suit leading to a $48 million deal between Encompass and the federal government over allegations its hospitals bilked Medicare to cover a disease that couldn't be diagnosed.

  • January 15, 2021

    Blue States Challenge EPA Aircraft GHG Emissions Standards

    The U.S. Environmental Protection Agency's new gas emissions standards for aircraft won't actually result in new reductions, said 12 attorneys general from California, Illinois, Pennsylvania, New York, and other Democrat-led states plus the District of Columbia in announcing a D.C. Circuit challenge Friday.

  • January 15, 2021

    New DOL Opinion Letters Tackle Tip Pooling

    Businesses can make tipped and nontipped workers share tips so long as they pay all of them the full minimum wage, and they must include mandatory service charges when calculating overtime, the U.S. Department of Labor said in opinion letters released on Friday.

  • January 15, 2021

    FinCEN Fines Capital One $390M Over AML Violations

    The Financial Crimes Enforcement Network hit Capital One with a $390 million fine on Friday evening over admitted shortcomings in its anti-money laundering program from 2008 to 2014 that the agency said allowed millions of dollars in suspicious transactions to go unreported.

  • January 15, 2021

    FTC Studying Medical Mergers With Data From Cigna, Aetna

    The Federal Trade Commission is demanding data from some of the country's largest health insurers to help it examine the effects of "physician group and health care facility consolidation," the agency announced Thursday.

  • January 15, 2021

    EEOC Preserves Grip On Filing New Bias Suits

    The U.S. Equal Employment Opportunity Commission has maintained control over the filing of potentially high profile or costly cases, such as ones that put the agency at odds with circuit court precedents, making only slight tweaks to a 2020 directive that scaled back its top lawyer's ability to file suits unilaterally.

  • January 15, 2021

    IRS Pushes Back Start Of Filing Season To Feb. 12

    The Internal Revenue Service said Friday it will not open the filing season for 2020 income tax returns until Feb. 12, later than its usual start in January, citing the need to conduct additional programing and testing for its systems.

  • January 15, 2021

    Wells Fargo Ex-GC Fined $3.5M In OCC Settlement

    The Office of the Comptroller of the Currency said Friday it has fined Wells Fargo's former general counsel $3.5 million as part of a settlement resolving the agency's claims against him over his alleged role in the banking giant's sales practices scandal.

  • January 15, 2021

    3 Benefits Takeaways From New Surprise Medical Billing Law

    A new federal law clamping down on surprise medical billing will likely trigger a short-term increase in employers' compliance spending, a long-term decrease in patients' out-of-pocket medical costs and an as-yet-unknown impact on employee health plans' overall price tag, experts say.

  • January 15, 2021

    IRS Keeps Patronage Calculation In Final Farming Co-Op Regs

    The Internal Revenue Service finalized rules on the 20% pass-through deduction, maintaining its prior stance that specified exempt cooperatives must calculate two separate deductions for patronage and nonpatronage activities for accuracy reasons.

  • January 14, 2021

    5th Circ. Erases $4M HHS Privacy Fine Against Texas Hospital

    The Fifth Circuit on Thursday axed a $4.3 million penalty imposed by the U.S. Department of Health and Human Services for a trio of data breaches at Texas-based MD Anderson Cancer Center, finding the agency hadn't shown that the medical provider had failed to do enough to protect patients' health data from being unlawfully disclosed. 

  • January 14, 2021

    NJ AG Warns Sportsbooks Against Delaying Withdrawals

    The New Jersey Attorney General's Division of Gaming Enforcement on Wednesday threatened sportsbooks with regulatory action over complaints that some are delaying bettors' requests to withdraw funds from their online betting accounts and in some cases soliciting bettors to put the funds into new wagers.

  • January 14, 2021

    DOJ's False Claims Haul Hits Decade Low At $2.2B

    The U.S. Department of Justice raked in $2.2 billion from False Claims Act cases in fiscal year 2020, the department said Thursday, its lowest haul since 2008 and down nearly $1 billion from the $3.1 billion in fiscal 2019.

  • January 14, 2021

    9th Circ. Denies Advocate's Nuke Decommissioning Challenge

    The Ninth Circuit has rejected a California public safety advocate's challenge of the U.S. Nuclear Regulatory Commission's decommissioning plan for a nuclear plant on the Pacific coast, saying the group didn't show the federal government "abdicated" its safety responsibilities.

  • January 14, 2021

    Flint Water Charges Will Test Limit Of Officials' Accountability

    Indictments unveiled Thursday against nine current and former Michigan state and local officials accused of playing a role in the Flint drinking water contamination crisis send a strong message to elected officials that there is a limit to the leeway granted them as decision makers.

  • January 14, 2021

    EEOC Says Noncitizens Exempt From Age Bias Disclosures

    The U.S. Equal Employment Opportunity Commission said Thursday that noncitizen overseas workers don't have to be counted as employees for age bias disclosures mandated under the Older Worker Benefit Protection Act.

Expert Analysis

  • EU Rule Presents New Medical Device Compliance Hurdles

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    The European Union's new Medical Device Regulation coming into effect this May will create a revolutionary new legal framework for manufacturers, distributors and notified bodies, but introduces an urgent need to adapt infrastructure and data collection, say Sylvie Gallage-Alwis at Signature Litigation and Sylvie Gallage-Alwis at Exponent.

  • How Fund Managers Can Avoid Political Contribution Missteps

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    In this brief video, Peter Chan and Karl Egbert at Baker McKenzie, and Suzan Rose at the Alternative Investment Management Association discuss fund manager compliance and monitoring issues related to state and federal rules on campaign contributions, particularly in light of the recent election cycle.

  • What's On The Horizon For Unclaimed Property In 2021

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    Unclaimed property professionals who run holder compliance programs should buckle themselves in for what portends to be a perfect storm of legislative, enforcement and litigation contests this year between state administrators and holders, say attorneys at Alston & Bird.

  • Opinion

    6 Ways Financial Regulators Should Prioritize Climate Risk

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    As the Biden administration prepares to take office, financial regulators must resolve to collaborate with each other and industries to manage the financial risks from climate change after years of obstruction by the Trump administration, says New York Department of Financial Services Superintendent Linda Lacewell.

  • 4 Legal Industry Trends Litigation Financiers Are Watching

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    Some recent litigation developments demonstrate efforts by law firms and their clients to search for opportunities in the COVID-19 economic fallout, while others — such as the rise of contingency fee arrangements — reflect acceleration of tendencies that were already underway, says William Weisman at Therium Capital.

  • 4 Steps For Public Cos. Subject To New Executive Pay Rules

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    To comply with recently finalized Internal Revenue Service regulations implementing the Tax Cuts and Jobs Act's $1 million cap on compensation deductions, employee benefit and tax executives at public companies should understand who their covered employees are and identify compensation agreements subject to the rules, say Samuel Krause and Teresa Abney at Crowell & Moring.

  • How EU Climate Regs May Affect US Private Fund Managers

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    As compliance dates for the European Commission's environmental, social and governance rules draw closer, U.S. private fund managers should be aware that EU investors and subsidiaries could trigger climate risk data requests and compliance obligations, says Trysha Daskam at Silver Regulatory.

  • Lenders' Role Will Be Key In NYC Green Building Loans

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    New York City's Climate Mobilization Act, which will soon restrict large buildings' carbon emissions, provides for a loan program to help owners finance energy-efficient improvements — but the program's success will depend on mortgage lenders' participation, says Jason Rozes at Dechert.

  • A Lawyer's Guide To Setting Well-Being Goals In 2021

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    In the face of rising client demands due to the pandemic and the changing regulatory environment, and with remote work continuing for the foreseeable future, lawyers should invest in their well-being by establishing inspiring yet realistic goals for 2021 — one month at a time, says Krista Larson at Morgan Lewis.

  • Lessons From 2020 Life Sciences Securities Class Actions

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    Life sciences companies can draw important insights from the many dismissal opinions that federal courts issued during 2020 in securities actions arising from adverse U.S. Food and Drug Administration actions and clinical development setbacks, say Yvonne Puig and Peter Stokes at Norton Rose.

  • Opinion

    Congress Must Fix The AML Whistleblower Law

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    Fundamental differences between whistleblower provisions in the recently passed Anti-Money Laundering Act and the Dodd-Frank Act will render the new law ineffective until Congress amends it to fully conform to Dodd-Frank's highly successful reward provisions, says Stephen Kohn at Kohn Kohn.

  • IRS Continuity Safe Harbor Will Aid Renewable Projects

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    Recent Internal Revenue Service guidance expanding the continuity safe harbor to protect tax credit eligibility for qualified offshore and federal land renewable energy projects will provide certainty for developers who often face significant construction and permitting delays, say attorneys at Mayer Brown.

  • Keyword Searches To Improve Your Privilege Doc Review

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    "Confidential" and other search terms commonly used to locate privileged documents during e-discovery are pretty ineffective, so practitioners should consider including specific types of keywords that are demonstrably better at targeting privilege, say Robert Keeling at Sidley and Rishi Chhatwal at AT&T.

  • 6 Advertising Law Trends To Watch In 2021

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    For the world of advertising, 2021 will bring new challenges and considerations shaped not only by the ongoing pandemic, but also by new legal developments regarding social media, cannabis and consumer privacy, say Jason Gordon and Casey Perrino at Reed Smith.

  • Cybersecurity Event-Driven Securities Litigation Has Arrived

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    A recent shareholder lawsuit against First American Title Insurance Co. highlights that securities litigation prompted by regulatory actions may become increasingly prevalent in the cybersecurity context, say attorneys at Pasich.

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