Compliance

  • March 18, 2024

    HSBC Securities Can't Exit Ex-Rep's Whistleblower Suit

    A New York federal judge on Monday green-lit a whistleblower retaliation suit by a former HSBC Securities employee who claimed he was fired for reporting "rampant front-running" by HSBC traders, saying that while certain claims must be trimmed the suit plausibly alleges protected activity was a contributing factor to his termination.

  • March 18, 2024

    Ex-Autonomy CEO's Fraud Trial Over $11.7B HP Deal Kicks Off

    Autonomy's former CEO Michael Lynch duped HP into buying his company at the inflated price of $11.7 billion, a federal prosecutor said Monday during opening statements in the British entrepreneur's criminal trial, while Lynch's lawyer countered his client had "all the money in the world" and no motive to commit fraud.

  • March 18, 2024

    Meta Wants Emergency Stop Of FTC Privacy Tweaks

    Meta is seeking an immediate injunction to halt the Federal Trade Commission's changes to its 2020 settlement with the company, asking the D.C. Circuit to hear its appeal before the social media giant must respond to a show cause order on why the deal shouldn't be modified.

  • March 18, 2024

    FTC Says 2 Fintechs Will Pay $59M To Settle PPP Loan Claims

    Two fintech firms heavily involved in a key federal pandemic-era loan program for small businesses have agreed to pay a combined $59 million to settle Federal Trade Commission claims of bungled application processing that failed to deliver speedy relief funding as advertised, the FTC said Monday.

  • March 18, 2024

    Petrillo Klein Nabs NY Consumer Protection Chief As Partner

    The former acting head of the Consumer Protection and Financial Enforcement Division of the New York State Department of Financial Services has joined Petrillo Klein & Boxer LLP, where he will focus on white-collar defense of both individuals and institutions.

  • March 18, 2024

    Fund Industry Sues SEC To Overturn New Dealer Definition

    Private fund associations sued the U.S. Securities and Exchange in Texas on Monday in the hopes of reversing the agency's recent decision to bring proprietary trading firms and some hedge funds under its authority as securities dealers, a decision that the suing groups have said could drive some hedge funds out of business.

  • March 18, 2024

    2nd Circ. Rejects 'New Standard' Of Patent Monopolies

    A Second Circuit panel on Monday revived antitrust allegations accusing Novartis of concealing the true history of an eye syringe treatment's development from the U.S. Patent Office to edge Regeneron out of the market, faulting a district court for holding that antitrust markets can't be "coextensive" with the patent.

  • March 18, 2024

    FCC Fines Ga. Radio Broadcaster Over Station Silences

    The former owner of a Georgia sports radio station has been slapped with a $16,200 fine by the FCC for repeatedly suspending operations, allowing the station to change hands without permission and not answering the agency's inquiries about any of it.

  • March 18, 2024

    SEC's Grewal Defends 'Shadow Trading' Case Ahead Of Trial

    The enforcement director of the U.S. Securities and Exchange Commission on Monday defended the agency's stance in a novel "shadow trading" case one week before it's set to go to trial, saying that while it's the first case of its kind, the underlying allegations aren't new.

  • March 18, 2024

    Feds Try To Shake Off Youths' Constitutional Climate Suit

    The government has asked a California federal judge to dismiss a group of children's lawsuit alleging the Constitution guarantees "a life-sustaining climate system" and the U.S. Environmental Protection Agency allows unsafe levels of climate pollution.

  • March 18, 2024

    Corteva Wants Jury Trial In FTC Pesticides Case

    Corteva has demanded a jury trial for the Federal Trade Commission's case in North Carolina federal court accusing Corteva and Syngenta of blocking competition from generic pesticides through rebate programs.

  • March 18, 2024

    Provider To Pay $100K Fine For 'Downselling' Broadband

    A fiber broadband provider in Texas and Louisiana has agreed to pay a $100,000 fine to the Federal Communications Commission for selling only its slowest service plan to customers in the Affordable Connectivity Program.

  • March 18, 2024

    BNSF, Ports Lose Bid To Narrow Wash. Stormwater Regs

    Washington state appellate judges sided with a water quality watchdog Monday in a dispute over the scope of state-issued industrial stormwater permit terms, agreeing with the environmental group's broader reading of how the rules cover "transportation facilities" run by operators such as ports and railroads.

  • March 18, 2024

    Genesis Gets OK For $21M Deal To End SEC Crypto Loan Suit

    A New York federal judge on Monday approved a $21 million settlement to resolve allegations that bankrupt crypto lender Genesis Global Capital LLC violated the U.S. Securities and Exchange Commission's regulations by selling unregistered securities in a joint partnership with crypto exchange Gemini Trust Co.

  • March 18, 2024

    SEC Sanctioned Over 'Bad Faith Conduct' In Crypto Case

    A Utah federal judge sanctioned the U.S. Securities and Exchange Commission on Monday over misstatements its counsel made to obtain emergency measures against crypto project Debt Box, ordering the regulator to pay both the defense's and receiver's attorney fees as well as legal costs arising from the regulator's "bad faith conduct."

  • March 18, 2024

    Energy Co. Exec Cops To $5.5M Commodity Kickback Scheme

    A former president of a Texas energy company has pled guilty to fraudulently trading natural gas futures contracts and receiving $5.5 million in illegal kickbacks for the associated trades, the U.S. Department of Justice has said.

  • March 18, 2024

    Food Industry Group Urges 9th Circ. To Keep GMO Labeling Rule

    A trade group representing corporate giants including Coca-Cola and General Mills has urged the Ninth Circuit to keep a federal labeling rule allowing disclosure of genetic modifications to foods to be done digitally, claiming that upsetting the rule would present "significant disruption for industry and consumers alike."

  • March 18, 2024

    FINRA Fines Firm Over Social Media Influencers' Posts

    The Financial Industry Regulatory Authority announced Monday that it has settled its first formal enforcement disciplinary action stemming from a firm's supervision of social media influencers, fining financial services provider M1 Finance LLC $850,000 for its influencers' misleading posts.

  • March 18, 2024

    Judge Pauses Fla. Tribe's Suit Over Clean Water Act Program

    A Florida federal judge on Monday paused a lawsuit brought by the Miccosukee Tribe of Indians alleging the U.S. Environmental Protection Agency improperly granted the state permitting authority under a Clean Water Act program, saying the case could be moot if an order in similar litigation is allowed to stand.

  • March 18, 2024

    Sen. Vance Backs Suit To Declare Google Common Carrier

    Sen. J.D. Vance, R-Ohio, and an anti-monopoly nonprofit have backed the Ohio state attorney general's lawsuit seeking to declare Google as a common carrier.

  • March 18, 2024

    Tesla Trial To Test Bounds Of Autonomous Cars' Future

    An upcoming California trial seeking to hold Tesla accountable for the death of a driver who had been playing games on his cellphone while his vehicle was in Autopilot may force the auto industry to recalibrate its approach to advanced driver-assistance systems, as developers pushing fully autonomous transportation stare down the threat of new legal landmines, experts say.

  • March 18, 2024

    Battle Over Mass. Rezoning Law Headed To High Court In Fall

    The Massachusetts attorney general's lawsuit to force a Boston suburb to comply with an ambitious housing law was fast-tracked Monday to the state's high court later this year, as more than a hundred towns around Boston watch how the dispute plays out.

  • March 18, 2024

    SunZia Argues Suit Over Power Line Project Filed Far Too Late

    The developer of the proposed SunZia Southwest Transmission Project is asking an Arizona federal court to dismiss claims that the Department of the Interior failed to take a proper look at historic properties and cultural resources that the 550-mile power line might affect, arguing that the allegations are time-barred.

  • March 18, 2024

    Conn. Judge Won't Halt Ex-Yale Student's Case After 'Doxxing'

    A Connecticut federal judge determined Monday that acquitted former Yale University student Saifullah Khan's decision to reveal his onetime sexual assault accuser's name on X, the social media site formerly known as Twitter, isn't fatal to a defamation lawsuit against the woman despite an anonymity order.

  • March 18, 2024

    Trump Says He Can't Secure Bond For $465M Fraud Judgment

    Former President Donald Trump told a New York appellate court Monday that posting bond while he appeals a $465 million judgment against him and his business empire for allegedly defrauding banks and insurers is a "practical impossibility."

Expert Analysis

  • What The NIL Negotiation Rules Injunction Means For NCAA

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    A Tennessee federal court's recent preliminary injunction reverses several prominent and well-established NCAA rules on negotiations with student-athletes over name, image and likeness compensation and shows that collegiate athletics is a profoundly unsettled legal environment, say attorneys at Pillsbury.

  • Md. May See Vigorous Resale Price Maintenance Enforcement

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    In Maryland, indications of a new focus on resale price maintenance agreements are significant because state prosecution in this area has been rare, particularly outside California, say attorneys at DLA Piper.

  • What 2 Years Of Ukraine-Russia Conflict Can Teach Cos.

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    A few key legal lessons for the global business community since Russia's invasion of Ukraine could help protect global commerce in times of future conflict, including how to respond to disparate trade restrictions and sanctions, navigate war-related contract disputes, and protect against heightened cybersecurity risks, say attorneys at Morgan Lewis.

  • Takeaways From EPA's New Methane Emission Rules

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    Attorneys at V&E examine two new Clean Air Act rules for the oil and gas industry, explaining how they expand methane and volatile organic compound emission reduction requirements and amplify U.S. Environmental Protection Agency enforcement risks.

  • EEOC Case Reminds That Men Can Also Claim Pay Bias

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    The Maryland State Highway Administration recently settled U.S. Equal Employment Opportunity Commission claims that a male employee was paid less than his female colleagues, highlighting why employers should not focus on a particular protected class when it comes to assessing pay bias risk, say Barbara Grandjean and Audrey Merkel at Husch Blackwell.

  • How AI May Be Used In Fintech Fraud — And Fraud Detection

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    Recent enforcement actions in the fintech and finance industries show that the government is increasingly pursuing fraud enabled by artificial intelligence — at the same time it’s using AI innovations to enforce regulations and investigate fraud, say attorneys at ArentFox Schiff.

  • Antitrust Enforcers' Views On Info Exchanges Are Evolving

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    As antitrust enforcers' views on information exchanges between competing companies have matured in response to technological advances, companies would do well to reconsider whether the exchanges in which they participate meet the most recent compliance benchmarks, say attorneys at Norton Rose.

  • Takeaways From NLRB Advice On 'Outside' Employment

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    Rebecca Leaf at Miles & Stockbridge examines a recent memo from the National Labor Relations Board’s Division of Advice that said it’s unlawful for employers to restrict secondary or outside employment, and explains what companies should know about the use of certain restrictive covenants going forward.

  • FARA Enforcement May Soon Be In The Halls Of Higher Ed

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    Given Congress’ increased attention to rising foreign influence on U.S. college campuses, the U.S. Department of Justice may soon turn the Foreign Agents Registration Act spotlight on educational institutions and groups, which will need to review their possible obligations under the statute, says Tessa Capeloto at Wiley.

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • How FinCEN Proposal Expands RE Transaction Obligations

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    Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.

  • The Epic Antitrust Cases And Challenges Of Injunctive Relief

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    The Epic cases against Apple and Google offer a window into the courts' considerable challenges in Big Tech litigation and establishing injunctive relief that enhances competition and benefits consumers, say Kelly Lear Nordby and Jon Tomlin at Ankura Consulting.

  • Banks Should Continue To Prep For CFPB Data Rule Rollout

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    Consumer Financial Protection Bureau-supervised banks should not expect industry pressure to delay the rollout of proposed Section 1033 open banking rules, which regulate how consumer financial information flows between financial institutions, and prepare their required data access portals and compliance procedures now, say attorneys at Troutman Pepper.

  • 5 Trends To Watch As Value-Based Healthcare Gains Steam

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    Value-based care has grown and evolved as healthcare providers, payors and policymakers seek to improve patient results while containing costs, and this shift in the industry is expected to accelerate in the near future, say attorneys at Holland & Knight.

  • What To Know About Employee Retention Credit Disclosures

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    Employers that filed potentially erroneous employee retention credit claims should take certain steps to determine whether the IRS’ voluntary disclosure program is a good fit and, if so, prepare a strong application before the window closes on March 22, say attorneys at Dentons.

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