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Compliance

  • February 15, 2019

    Witness Details Kickback Deals At Nursing Home Mogul's Trial

    A convicted health care fraudster testified Friday for the federal government in its $1 billion fraud trial against Miami businessman Philip Esformes about how he brokered deals in which medical providers paid illegal kickbacks for access to Esformes' extensive network of nursing facilities.

  • February 15, 2019

    Hilton ERISA Injunction Needs No Oversight Now: DC Circ.

    A Washington, D.C., federal judge correctly stopped supervising Hilton Hotels and Resorts’ compliance with a permanent injunction in an Employee Retirement Income Security Act case, a D.C. Circuit panel held Friday, saying the hotel chain has taken steps to comply with the injunction.

  • February 15, 2019

    SEC Nudges Cos. Toward More Robust Diversity Disclosures

    The U.S. Securities and Exchange Commission is encouraging companies to reveal more about how they consider diversity when composing their boards of directors, a move that could shed more light on a topic that Congress and certain large shareholders are increasingly scrutinizing.

  • February 15, 2019

    In Spending Plan, CFTC Gets Funding Boost, SEC Can Move

    Wall Street regulators fared well in Friday’s spending package, with the Commodity Futures Trading Commission securing its first budget increase in four years and the U.S. Securities and Exchange Commission receiving tens of millions of dollars more than it bargained for, including cash to relocate in Manhattan.

  • February 15, 2019

    Goldman Launches 2nd Appeal Of Class Cert. In 2nd Circ.

    A New York federal judge incorrectly recertified a class of investors who accused Goldman Sachs Group Inc. of lying about its ethical compliance efforts before it lost $1 billion in securities known as collateralized debt obligations, the Wall Street giant argued in its appeal to the Second Circuit on Friday.

  • February 15, 2019

    FTC’s Wilson Sees Pluses Of 'Total Welfare' Antitrust Standard

    Federal Trade Commission Republican Christine S. Wilson defended the current legal standard by which antitrust enforcers and courts judge mergers and anti-competitive conduct, but argued in a speech Friday that critics who want a new approach haven't given one alternative the attention it deserves.

  • February 15, 2019

    Facebook Data Leak Negotiations Put FTC In Hot Seat

    As negotiations reportedly heat up, the U.S. Federal Trade Commission is facing pressure to give Facebook a historic fine for its notorious data leak or face off with the social network in a court battle that could test the teeth of its consent decrees.

  • February 15, 2019

    Ex-FDA Atty Joins McDermott Will & Emery's DC Office

    McDermott Will & Emery LLP has hired a former U.S. Food and Drug Administration attorney as an addition to the firm’s practice in Washington, D.C., saying she will help expand the firm's life sciences breadth.

  • February 15, 2019

    Treasury Dept. Hits Venezuelan Officials With Sanctions

    The U.S. Department of the Treasury on Friday slapped sanctions on five current and former Venezuelan government officials associated with President Nicolas Maduro, including the head of the country's state-run oil firm, as the Trump administration cracks down on what it has decried as an "illegitimate" presidency.

  • February 15, 2019

    NH Lottery Hits DOJ With Challenge To New Wire Act Opinion

    The New Hampshire Lottery Commission on Friday launched a legal challenge to the U.S. Department of Justice's January finding that the federal Wire Act's prohibitions against interstate gambling apply to non-sports betting.

  • February 15, 2019

    Ex-Goldman Exec Agrees To Face 1MDB Charges In US

    Former Goldman Sachs Group Inc. managing director Roger Ng Chong Hwa has agreed to be extradited from Malaysia to the U.S. to face charges of conspiring to misappropriate more than $2.7 billion from Malaysia's sovereign wealth fund, 1Malaysia Development Berhad.

  • February 15, 2019

    Trump's Drug Rebate Ban Faces Fraught Legal Path

    One of the Trump administration’s boldest moves to ease drug prices — a ban on billions of dollars in rebates negotiated by middlemen for health insurers — will need to traverse a legal minefield to become reality, experts say.

  • February 15, 2019

    'We're All Going To Jail,' Ex-Insys CEO Says He Heard At Work

    The former CEO of Insys Therapeutics Inc. on Friday described a messy internal battle after the government started investigating a speaker program allegedly used to bribe doctors to prescribe opioids, saying before jurors in Massachusetts federal court that he once heard another executive shout "we are all going to jail."

  • February 15, 2019

    Ballard Spahr Adds 2 'Silicon Slopes' Attys In Salt Lake City

    Two business lawyers with longtime ties to Utah’s “Silicon Slopes” network of technology startups and emerging companies have joined Ballard Spahr LLP’s business and finance practice in the law firm’s Salt Lake City office, the firm has announced.

  • February 15, 2019

    NYSE, Nasdaq Ask DC Circ. To Review SEC's Fee Program

    The New York Stock Exchange LLC and Nasdaq Stock Market LLC have separately asked the D.C. Circuit to review the U.S. Securities and Exchange Commission’s two-year pilot program that could cap the fees they receive.

  • February 15, 2019

    Ex-Cognizant Execs Charged With $2M Indian Bribe Scheme

    Federal prosecutors and regulators handed down parallel criminal and civil charges on Friday for the former president and chief legal officer of Cognizant Technology Solutions Corp., accusing them of participating in a scheme to bribe an Indian official $2 million for permission to move forward on a construction project.

  • February 15, 2019

    German Watchdog Widens Deutsche Bank AML Investigation

    Germany’s financial regulator announced Friday it has ordered an independent investigator to subject Deutsche Bank’s role in a money laundering scandal involving Danish lender Danske Bank to closer scrutiny.

  • February 14, 2019

    Defense Uses Feds' Covert Video In $1B Health Fraud Trial

    The defense team for Miami businessman Philip Esformes showed jurors undercover FBI video Thursday in an attempt to discredit a key witness in the government's $1 billion health care fraud case against him, but prosecutors may have landed a bigger counterpunch.

  • February 14, 2019

    FHFA Nominee Backs 30-Year Mortgage, Broader Reform

    President Donald Trump's nominee to lead the Federal Housing Finance Agency told senators Thursday that he hasn't seen what the administration is planning as far as reforming the government-sponsored enterprises Fannie Mae and Freddie Mac, but wouldn't himself seek to cut government support for the 30-year mortgage if confirmed.

  • February 14, 2019

    Federal Student Loan Servicers Got Lax Oversight: DOE Audit

    Government monitors have been going easy on student loan servicers that stray from regulatory requirements, giving U.S. companies that administer student debt little reason to follow the rules, the U.S. Department of Education Inspector General said in a report released Thursday.

Expert Analysis

  • Take Care Defining Health Services Under IRC Section 199A

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    Examples in the new final regulations under Internal Revenue Code Section 199A confirm that health-related businesses can be allowed a qualified business income deduction. But businesses operating with facts that differ even slightly from those in the regulations' examples should proceed with caution, says Marc Finer of Murtha Cullina LLP.

  • 5 EU Anti-Tax Avoidance Rules US Cos. Should Know

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    Although not all EU member states met the Jan. 1 deadline for codifying the Anti-Tax Avoidance Directive into national law, U.S. groups with EU operations should comply with the five ATAD rules regardless of location, says Rick Minor of Womble Bond Dickinson LLP.

  • How Newly Broadened Venezuela Sanctions Affect Securities

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    The U.S. Treasury Department’s Office of Foreign Assets Control recently amended the general licenses that authorize dealings in bonds and securities otherwise prohibited by U.S. sanctions on Venezuela — apparently to target parties that would facilitate transactions between Petróleos de Venezuela SA securities holders and blocked individuals, say attorneys at Hunton Andrews Kurth LLP.

  • A First Look At New HHS Prescription Drug Safe Harbors

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    The U.S. Department of Health and Human Services' recent proposal to update the prescription drug discount safe harbor does not directly affect the price-setting activities of pharmaceutical manufacturers, but instead appears designed to affect prices indirectly by increasing transparency, say attorneys with Ropes & Gray LLP.

  • How Workplace Disparities May Arise: An Economic Outline

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    Recent trends suggest that workplace discrimination will continue to be an area of focus for enforcement activities and private litigation. But to comply with stronger pay equity laws and hedge against the risk of litigation, employers must understand how systematic disparities might occur, say members of Analysis Group Inc.

  • Where Calif. Privacy Law And Employee Benefits Data Collide

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    For covered businesses, the California Consumer Privacy Act's broad use of the term “consumer” means that the new law could apply to data collected about California residents under health, retirement and other employee benefit plans, say attorneys with Hunton Andrews Kurth LLP.

  • SEC Should Revisit Its Special Purpose Acquisition Co. Regs

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    Although the U.S. Securities and Exchange Commission has removed some roadblocks to capital formation, it has not taken a fresh look at special purpose acquisition companies in over a decade — leaving operating companies that go public by merging with SPACs saddled with unnecessary restrictions, says Carol Anne Huff of Kirkland & Ellis LLP.

  • A Brief Exploration Of Privilege Nuances In The Tax Context

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    Attorneys at Ropes & Gray LLP discuss three key cases highlighting the practical implications of client waivers and the crime-fraud exception to attorney-client and tax practitioner privileges.

  • Recent Trends In FTC Consumer Protection Enforcement

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    The Federal Trade Commission is focusing its enforcement efforts on financial services, web services and emerging technologies, data security and consumer privacy, telecommunications, and health care — these five areas represented 88 percent of consumer protection actions in 2017 and 2018, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • PCAOB Enforcement Actions Decline As Board Faces Change

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    Along with the appointment of five new members and other personnel changes at the Public Company Accounting Oversight Board, last year saw fewer settled disciplinary orders made public by the board. The decline is consistent with the trend at the U.S. Securities and Exchange Commission, says Robert Cox of Briglia Hundley PC.