Compliance

  • April 03, 2020

    SEC Accounting Chief Expects ‘Significant’ COVID Challenges

    The U.S. Securities and Exchange Commission’s top accountant acknowledged Friday that accounting firms will face increasing challenges in crafting judgments and estimates amid the coronavirus pandemic, while stressing the importance of required disclosures.

  • April 03, 2020

    SEC Rips Boutique Firm’s Bid For $3M From EB-5 Receiver

    The U.S. Securities and Exchange Commission told a California federal judge that a boutique law firm is trying to get $3 million in fees from the receivership estate for an EB-5 investment fraud scheme simply for getting the receiver appointed.

  • April 03, 2020

    Seattle Nursing Home At Epicenter Of Pandemic Fined $600K

    A Seattle area nursing home at the epicenter of Washington's COVID-19 outbreak has been fined more than $600,000 by state and federal regulators, who found a litany of problems at the facility that contributed to dozens of cases there and led to nearly 40 deaths.

  • April 03, 2020

    Telegram Order Raises Questions About Crypto Fundraising

    The highly anticipated order in the SEC's case against Telegram Group Inc. has added some clarity to the application of securities laws to digital token offerings, with attorneys saying the commission's initial win might nudge blockchain companies to consider different types of fundraising options.

  • April 03, 2020

    Venture-Backed Firms Could Miss Out On Virus Relief Loans

    Certain venture-backed startups may be ineligible for relief loans aimed at small businesses struggling to pay employees during the coronavirus pandemic, prompting fears that many distressed startups will be denied aid amid a brutal cash crunch.

  • April 03, 2020

    Regulators Warn Forex Trader To Stop Selling In Texas

    Texas regulators Friday ordered a foreign exchange currency trader to stop offering investments to its residents, saying the man isn't registered with the state and has been fraudulently advertising a "basically risk-free" venture during the economic fallout from the COVID-19 pandemic.

  • April 03, 2020

    Blockvest Says Issues Of Fact In ICO Fraud Case Remain

    Cryptocurrency company Blockvest LLC and its founder have urged a California federal judge to reject a bid for summary judgment by the U.S. Securities and Exchange Commission in a suit alleging it fraudulently advertised that its initial coin offering had the SEC's nod.

  • April 03, 2020

    New DOL Coronavirus Guidance Includes Mask Reuse Rules

    The U.S. Department of Labor issued temporary guidelines for rationing and reusing filtering respirators amid the ongoing face mask shortage Friday alongside additional guidance on the new federal sick leave mandate and the recent unemployment expansion.

  • April 03, 2020

    Law360's 2020 Compliance Editorial Advisory Board

    Law360 is pleased to announce the formation of its 2020 Compliance Editorial Advisory Board.

  • April 03, 2020

    Big Tobacco Sues FDA Over New Graphic Warnings

    Tobacco companies including R.J. Reynolds hit the U.S. Food and Drug Administration with a Texas federal court suit Friday challenging the agency's new graphic cigarette warnings, saying that the “emotionally charged” required warnings violate the First Amendment.

  • April 02, 2020

    TracFone Wireless Faces $6M FCC Fine Over Fake Customers

    The Federal Communications Commission proposed a $6 million fine against TracFone Wireless on Thursday for allegedly claiming federal funds for fictitious low-income customers, with FCC Chairman Ajit Pai saying he believes a new rule prohibiting carriers from paying workers commissions based on the number of Lifeline customers they enroll will deter fraud.

  • April 02, 2020

    Coal Cos. Linked To W.Va. Gov. Must Pay $5M Safety Fines

    A Virginia federal court signed off on a deal Thursday that lets the government collect $5 million in unpaid penalties from two dozen coal companies, all of which are associated with West Virginia Gov. Jim Justice and his family, to settle allegations they flouted federal mine safety requirements.

  • April 02, 2020

    SEC Chief Says Coronavirus Won't Stop Reg BI Plans

    U.S. Securities and Exchange Chairman Jay Clayton said Thursday that the June 30 compliance deadline remains in effect for Regulation Best Interest despite the continued impacts of the coronavirus on financial markets.

  • April 02, 2020

    CFPB Sanctions Payday Lender $1.4M Over 'Deceptive' Tactics

    The Consumer Financial Protection Bureau has reached a nearly $1.4 million settlement with Cottonwood Financial, calling out what it referred to as the payday lender’s misleading and deceptive practices.

  • April 02, 2020

    SEC Urged To Ease Private Funding Rules Amid Pandemic

    Small-business advocates on Thursday urged regulators to ease rules on online capital raising methods such as crowdfunding and other private markets tools amid the coronavirus pandemic, concerned that federal loans could take too long to arrive to satisfy urgent funding needs.

  • April 02, 2020

    Dems Demand Rewrite Of DOL's Coronavirus Leave Guidance

    Democratic lawmakers urged the U.S. Department of Labor on Thursday to rewrite guidance it issued last week to help workers and employers navigate leave provisions of the coronavirus relief package, saying the agency created new loopholes that limit who can get paid leave due to COVID-19.

  • April 02, 2020

    Feds Will Take Late Comments On Volcker Funds Proposal

    Federal financial regulators said Thursday that they're letting the public take some more time to weigh in on their proposal to pare back Volcker rule restrictions on banks' fund investment activities, citing the "potential disruptions" of the coronavirus pandemic.

  • April 02, 2020

    Dems Want Rule Comment Periods Paused Amid Outbreak

    A group of Democratic leaders in the U.S. House of Representatives have asked that the White House pause comment periods on active rulemakings across the federal government, saying the coronavirus pandemic is hurting the public’s ability to voice opinions on regulations.

  • April 02, 2020

    Pump-And-Dump Schemer Free Until $164M Scam Sentencing

    A man who pled guilty to a $164 million international pump-and-dump stock scheme in January got a reprieve from jail on Thursday, as a Massachusetts federal judge granted him home detention until his sentencing.

  • April 02, 2020

    Calif. Regulator Seeks Student Loan Servicer's Records

    California's Department of Business Oversight has sued one of the nation's largest student loan servicers for records on the administration of a teacher grant program, claiming the servicer has refused to turn over information as the regulator looks into alleged mismanagement.

  • April 02, 2020

    2nd Circ. Backs Stock-Parking Penalty For Ex-Barclays Trader

    The Second Circuit published an opinion on Thursday affirming the U.S. Securities and Exchange Commission’s five-year ban of an ex-Barclays bond trader over an alleged stock-parking scheme.

  • April 02, 2020

    IRS May Have Missed $243M In Pot Biz Taxes, TIGTA Says

    The IRS may have missed out on $242.6 million in unassessed taxes against marijuana businesses in three states that likely claimed prohibited business expense deductions, according to a report by the Treasury Inspector General for Tax Administration released Thursday.

  • April 01, 2020

    Ex-Students Can't Force Baylor Sex Assault Policy Changes

    Fifteen women who say Baylor University negligently responded to sexual assault reports can’t force the school to institute a new policy for handling similar allegations in the future because they didn’t prove intentions to reenroll, a Texas federal judge ruled Wednesday.

  • April 01, 2020

    FTC Sues Altria And Juul, Says $12.8B Deal Hurt Competition

    Altria Group Inc.'s $12.8 billion purchase of a stake in private equity-backed e-cigarette startup Juul Labs Inc. eliminated competition and violated antitrust laws, the Federal Trade Commission said Wednesday in announcing that it filed an administrative complaint against the companies.

  • April 01, 2020

    CFPB Issues Credit Reporting Guidance Amid Pandemic

    The Consumer Financial Protection Bureau offered guidance Wednesday about how it plans to handle consumer credit reporting oversight during the coronavirus pandemic, saying it will give companies some flexibility on meeting dispute investigation deadlines and won't go after them for telling credit bureaus about payment help given to borrowers. 

Expert Analysis

  • Key Issues As Automakers Shift To Medical Device Production

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    As automakers respond creatively to the COVID-19 pandemic, they must anticipate and address important performance and quality requirements as they work to quickly transform automotive and others factories for medical device production, say advisers and attorneys at King & Spalding.

  • The Pandemic's Early Effects On Foreign Trade, Investment

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    Though the Committee on Foreign Investment in the United States continues to function despite worldwide disruptions due to the coronavirus, dealmakers should stay mindful of several considerations in this rapidly changing investment environment, say Michael Leiter and Daniel Gerkin at Skadden.

  • An Asset Manager's Guide To Recent Fintech Developments

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    In this brief video, Jamie Cain and Ben Marzouk at Eversheds Sutherland discuss the essential fintech issues affecting asset managers' business models, including developments related to digital asset securities, cryptocurrency-based exchange-traded funds and blockchain.

  • False Ad Considerations In The Time Of COVID-19

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    Companies in the travel, entertainment and hospitality sectors, among others, can and should address coronavirus concerns in their marketing, but they need to ensure they are not making representations they cannot support, say Mike Rounds and Alissa Gardenswartz at Brownstein Hyatt.

  • Opinion

    Judicial Shaming Of Attys Is Troubling Even During Pandemic

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    Judges have recently rebuked attorneys for wasting judicial resources to resolve minor issues during the COVID-19 crisis, including in a trademark lawsuit over unicorn drawings. But it is unfair to publicly flog lawyers for doing what they are trained to do, says Ronald Minkoff, chairman of Frankfurt Kurnit's professional responsibility group.

  • Environmental Compliance Essentials During The Pandemic

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    Organizations can take certain steps now to ensure they are able to meet environmental compliance obligations during the COVID-19 pandemic — or to obtain relief based on force majeure, impossibility or impracticability of performance, compliance-with-all-laws clauses, enforcement discretion, or emergency relief provisions, say Bernadette Rappold and Christopher Bell at Greenberg Traurig.

  • When Coronavirus, Federal Paid Leave And The NLRA Collide

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    Employers managing unionized workforces during the COVID-19 pandemic must balance their responsibilities under the National Labor Relations Act, new federal paid sick leave requirements, health and safety regulations, and certain contract provisions, say Douglas Darch and Christina Taylor at Baker McKenzie.

  • Don't Be Social Media Distancing: LinkedIn Tips For Lawyers

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    While we need to be physically apart at this time, lawyers and firms should be leaning into social media to reinforce and build relationships, and help guide clients through the coronavirus crisis, says marketing consultant Stefanie Marrone.

  • 'Prompt Pay' For Construction May Still Apply Amid COVID-19

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    With prompt pay laws requiring strict adherence to contractual or statutory deadlines in Pennsylvania, New York and New Jersey, property owners and contractors should exercise caution in withholding payments for construction projects that may be due during the COVID-19 pandemic, say Teri Sherman and Gaetano Piccirilli at Klehr Harrison.

  • Considerations For Conducting Remote Internal Investigations

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    As COVID-19's effects reverberate throughout the corporate sector, in-house legal departments and their outside counsel will need to develop creative techniques to conduct internal investigations remotely, while ensuring that unanticipated risks do not compromise integrity, say attorneys at Steptoe & Johnson.

  • COVID-19 And Construction Stormwater Discharge Permits

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    As some state and local jurisdictions have begun to direct that construction projects shut down due to COVID-19 concerns, questions have arisen about contractors’ ongoing obligations under their projects’ National Pollutant Discharge Elimination System construction stormwater discharge permits, says Nick Hoogstraten at Peckar & Abramson.

  • Calif. Privacy Law Considerations For Private Funds

    Excerpt from Lexis Practice Advisor
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    Reece Hirsch and Brian London at Morgan Lewis explore when private investment funds and their managers are subject to the California Consumer Privacy Act and similar state laws, when they are exempt, and what they need to do to comply.

  • Inside The CARES Act's Key Tax Code Modifications

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    Attorneys at Eversheds explain how the Coronavirus Aid, Relief, and Economic Security Act modifies core federal tax provisions — including payroll tax requirements, net operating loss carrybacks and the corporate alternative minimum tax — in order to help businesses weather the current economic downturn.

  • CMS Emergency Waivers Give Health Care Needed Flexibility

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    On Monday, the Centers for Medicare & Medicaid Services issued over 60 waivers of Stark Law and other Medicare requirements, appearing to recognize the need to refocus health care providers’ time and effort into patient care during the pandemic, say Jeffrey Mittleman and Andrew Namkung at Holland & Knight.

  • Guiding Clients Through DOL Benefit Plan Probes: Part 2

    Excerpt from Lexis Practice Advisor
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    Kathleen Barrow at Fox Rothschild discusses how to manage agency and plan sponsor expectations during U.S. Department of Labor investigations of employer-sponsored benefit plans, and explains key steps for closing the inquiry.

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