Compliance

  • May 29, 2020

    Latest Push For Digital Dollar Led By Former CFTC Chair

    An organization headed up by a former chairman of the U.S. Commodity Futures Trading Commission on Friday published a white paper proposing an approach for developing a national digital currency, highlighting that the economic fallout from the coronavirus pandemic underscores the utility for such an initiative.

  • May 29, 2020

    OSHA's Critics Seize On News Of Lone COVID-19 Citation

    The disclosure at a congressional hearing Wednesday that the Occupational Safety and Health Administration had only issued one citation related to the COVID-19 pandemic shows the workplace safety watchdog is dropping the ball, worker advocates say.

  • May 29, 2020

    Sens. Join Call For FTC To Probe How TikTok Uses Kids' Data

    A bipartisan group of U.S. senators on Friday stepped up pressure on the Federal Trade Commission to investigate whether popular video-sharing app TikTok is "blatantly flouting" a deal with the commission that required it to significantly strengthen its children's privacy protections, a push that came just a day after more than a dozen U.S. House Democrats issued a similar call. 

  • May 29, 2020

    COVID-19 Securities Catch-Up: The 8 Biggest Investor Actions

    At least 50 federal securities cases with references to COVID-19 have been filed in the past three months, including merger challenges, regulatory enforcement actions and sprawling investor suits, according to a Law360 review of filings. As the pandemic pushes into the summer, Law360 is taking a look at eight major investor actions, in the order they were filed, that were brought in connection with the novel coronavirus since it captured the public consciousness in March.

  • May 29, 2020

    OCC Rule Aims To Settle Interest Rate Transfer Controversy

    The Office of the Comptroller of the Currency issued a final rule Friday stating that interest rates established on bank-originated debt remain valid even after the debt is transferred to a nonbank partner, an action aimed at clearing up a yearslong controversy that called the longstanding "valid when made" doctrine into question.

  • May 29, 2020

    Int'l Securities Org Says Virus Shouldn't Stop 'Fair' Filings

    An international standards group for the securities market said Friday that although the COVID-19 pandemic may cause difficulty for companies in making financial statements, it nonetheless called on corporations to try to be "fair" and transparent in their disclosures.

  • May 29, 2020

    5th Circ. Agrees With EPA's Review Of Exxon Refinery Permit

    The Fifth Circuit on Friday upheld the U.S. Environmental Protection Agency's decision not to oppose Exxon Mobil Corp.'s air pollution permit application to enlarge a Texas petrochemical plant, rejecting arguments the permit should have received more scrutiny.

  • May 29, 2020

    SEC Says Volkswagen, Ex-CEO Can't Escape Emissions Suit

    U.S. securities regulators told a California federal judge that Volkswagen knowingly misled bond investors by failing to disclose its "clean diesel" emissions cheating scheme, so it's still on the hook for securities fraud even after reaching settlements with other agencies.

  • May 29, 2020

    SEC Tags Another Adviser With Fee Disclosure Penalties

    The U.S. Securities and Exchange Commission ordered an Austin, Texas-based investment adviser to pay nearly $322,000 on Friday, claiming the firm failed to keep clients abreast of fees tied to investments in certain mutual funds over a more than five-year period.

  • May 29, 2020

    Fla. Investment Firm Strikes Deal With SEC In $39M Fraud Suit

    The receiver for a Florida investment firm at the center of an alleged $39 million fraud scheme has reached agreement with the U.S. Securities and Exchange Commission for entry of a permanent injunction against the company and related entities.

  • May 29, 2020

    Coronavirus Q&A: Foley & Lardner's Health Practice Chair

    In this edition of Coronavirus Q&A, one of Foley & Lardner LLP's top health lawyers discusses how the pandemic's psychological trauma could reshape mental health care and what COVID-19's brutal toll on senior citizens means for nursing home operations and investments.

  • May 29, 2020

    Ky. Man Pilfered $10M In Futures Trade Scheme, CFTC Says

    The Commodity Futures Trading Commission asked a Kentucky federal judge Thursday to halt an operation by a man it says took $10 million from investors for a "Ponzi-like scheme."

  • May 29, 2020

    3 Questions For Tenants And Owners As Subleasing Looms

    As office and retail tenants continue to have difficulty making rent amid the COVID-19 pandemic, many will look to sublease some or all of their space, and lawyers say the pandemic has ushered in a unique set of sublease questions.

  • May 28, 2020

    PPP Loan Flexibility Passes House; Disclosure Falls Short

    A nearly unanimous House on Thursday approved a bill that would give more time and flexibility to businesses that receive forgivable loans through the Paycheck Protection Program, but Republicans defeated a proposal for public disclosure of all loans over $2 million.

  • May 28, 2020

    House Dems Ask FTC To Probe TikTok Over Kids' Privacy Deal

    More than a dozen U.S. House Democrats are pushing the Federal Trade Commission to look into allegations that TikTok blatantly disregarded a deal with the agency that required it to bolster its privacy protections for children, joining a chorus of advocacy groups and other lawmakers who have raised questions about the popular video-sharing app's collection and use of personal data. 

  • May 28, 2020

    Remanding Mass. Exxon Climate Case Clear Call, Judge Says

    A Massachusetts federal judge said Thursday the state attorney general's suit claiming ExxonMobil Corp. lied to investors and the public about climate change-associated risks relies on "mundane theories of fraud" that can be litigated in state court.

  • May 28, 2020

    Banks May Avoid Prosecutors' PPP Fraud Wrath, For Now

    With Paycheck Protection Program fraud cases popping up across the country like spring flowers, thousands of lenders that have participated in the coronavirus relief loan program could be forgiven for worrying the crackdown is coming for them too. But experts say banks can rest easy, at least for now, with the primary focus still on borrower fraud.

  • May 28, 2020

    Blockchain Co. To Return $25.5M After Unregistered ICO

    A California blockchain services company agreed to a $29.3 million settlement with the U.S. Securities and Exchange Commission on Thursday for conducting a $25.5 million unregistered initial coin offering.

  • May 28, 2020

    White House Order To Tackle Twitter Bias On Shaky Ground

    President Donald Trump signed an executive order Thursday urging the Federal Communications Commission to regulate big tech platforms, inflaming a long-simmering debate over the agency's authority to police internet content.

  • May 28, 2020

    9th Circ. Bars Pipelines From Water Permit During Appeal

    New oil and gas pipeline projects can't use an expedited Clean Water Act permitting process while the federal government and Keystone XL pipeline developer appeal a judge's order barring the use of the permit, the Ninth Circuit said Thursday.

  • May 28, 2020

    Clean Energy Tax Credit Delays Give Builders Breathing Room

    The U.S. Treasury Department on Wednesday formally announced an extension of eligibility deadlines for renewable energy tax credits, easing the minds of coronavirus-impacted wind and solar developers worried that blowing project milestones might cost them some or all of their credits.

  • May 28, 2020

    OSHA Tells House Panel It Just Issued First Virus Citation

    The Occupational Safety and Health Administration issued its first coronavirus-related citation "within the last week," the embattled head of the agency told lawmakers Thursday at a marathon House subcommittee hearing on OSHA's virus enforcement — or its alleged lack thereof.

  • May 28, 2020

    5 Questions To Ask When Workers Earn Social Media Infamy

    Franklin Templeton Investments moved swiftly to fire a white woman after a Twitter video of her calling the cops on a black man in Central Park went viral, but the company could have landed in legal hot water despite outrage at her actions, experts say. Here, Law360 looks at five questions businesses should ask when workers go viral for the wrong reasons.

  • May 28, 2020

    FINRA Hits Stifel For $3.6M In Year's Top Suitability Settlement

    The Financial Industry Regulatory Authority has ordered broker-dealer Stifel Nicolaus & Co. to pay more than $3.6 million in the largest suitability settlement of 2020, claiming the broker-dealer did not adequately monitor the rollovers of certain customer investments and provided inaccurate information.

  • May 28, 2020

    SEC Seeks $2.5M From Ponzi Scheme Operator

    The U.S. Securities and Exchange Commission asked a Utah federal judge Wednesday to grant a $2.5 million default judgment against the incarcerated owner of an online advertising business following a 2017 injunction against the alleged international Ponzi scheme.

Expert Analysis

  • Avoiding Inadvertent Privilege Waivers In E-Communications

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    Attorneys at WilmerHale highlight recent developments in privilege law, the significant challenges raised by nontraditional working arrangements popularized during the pandemic, and ways to avoid waiving attorney-client privilege when using electronic communications.

  • Incentives And Risks From OTC Drug Monograph Revamp

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    A provision in the CARES Act that overhauls the over-the-counter drug monograph system should be a welcome development for certain drug manufacturers and developers but may also result in increased federal scrutiny and enforcement activity, say attorneys at Ropes & Gray.

  • 5 Tips For Drafting Effective Legal Billing Guidelines

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    To properly manage outside counsel, it's imperative for a company's legal department to implement and maintain rules on what they will and won't pay for, on staffing cases and requesting rate increases, and on how matters will be handled, says Chris Seezen at Quovant.

  • Limiting Employer Liability For Secondhand Virus Exposure

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    While the law on secondhand exposure to workplace hazards like COVID-19 varies from state to state, employers can make educated guesses about the scope of liability and the steps needed to protect workers and limit claims from third parties, say attorneys at McGuireWoods.

  • How Energy Co. Buyers Can Limit Environmental Liability Risk

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    As potential buyers look to purchase assets of energy companies driven into bankruptcy by the coronavirus pandemic, there are a number of precautionary steps they should take to reduce the risk of liability for the seller's environmental obligations, say Jacob Hollinger and Darren Azman of McDermott.

  • Opinion

    Keystone XL Ruling Paralyzes Infrastructure Permit Process

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    A Montana federal judge's recent ruling revoking water permits for the Keystone XL pipeline and imposing a nationwide moratorium on dredging and filling operations by the U.S. Army Corps of Engineers seriously undermines a tried and true regulatory process, say Tom Magness at Grow America's Infrastructure Now and Patrice Douglas at Spencer Fane.

  • When Unclear Retail Rent-To-Own Terms Draw FTC Ire

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    The Federal Trade Commission's recent settlement with Progressive Leasing over its failure to clearly disclose rent-to-own prices illustrates the FTC's propensity to seek equitable monetary relief from national advertisers, as well as policy differences between Republicans and Democrats, say John Feldman and Gerry Stegmaier at Reed Smith.

  • Opinion

    Medicare Secondary Payer Proposal Should Set Fair Penalties

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    The Centers for Medicare & Medicaid Services' proposed rule establishing penalties for Medicare secondary payer late reporting unduly punishes entities for making good faith efforts to disclose claims, says Re Knack at the Medicare Advocacy Recovery Coalition.

  • Opinion

    Don't Cancel Your Summer Associate Programs

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    While pulling off an effective summer associate program this year will be no easy feat, law firms' investments in their future attorneys should be considered necessary even during this difficult time, says Summer Eberhard at Major Lindsey.

  • A Bankruptcy Probe Primer For White Collar Attorneys

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    As white collar attorneys are increasingly asked to assist with bankruptcy-related investigations by unsecured creditors due to the current economic environment, they should follow best practices concerning discovery, appointment of independent board members, and malpractice claims, say attorneys at Lowenstein Sandler.

  • Top 5 Wage And Hour Risks To Avoid As Businesses Reopen

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    Employers should use extra caution to sidestep several key wage and hour mistakes as businesses prepare to reopen following the coronavirus crisis and worker classification and Fair Labor Standards Act compliance comes under increased scrutiny, say Kathleen Caminiti and Eric Baginski at Fisher Phillips.

  • Pandemic Elevates Cos.' Compliance Risks In Latin America

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    While Latin American governments respond to pandemic-related financial needs, multinational companies face elevated compliance risks from increased interaction with government officials, and new enforcement policies related to the misappropriation of funds, expedited government contracting, increased transparency and monitoring, and international cooperation, say attorneys at K&L Gates.

  • The Legal Risks Of Bias In Artificial Intelligence

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    Bias in artificial intelligence algorithms is inevitable, so companies that use AI should take proactive steps to avoid disparate impact on legally protected classes and minimize the risk of lawsuits, say Brig. Gen. Patrick Huston at the Army JAG Corps and Lourdes Fuentes-Slater at Karta Legal.

  • 5 Ways To Reduce Post-Pandemic Legal Malpractice Exposure

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    History suggests that legal malpractice claims will rise following the current economic downturn, and while a certain percentage of the claims will be unavoidable, there are prophylactic steps that law firms can take, says John Johnson at Cozen O'Connor.

  • Risk Management Concepts For Public-Private Crisis Projects

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    As businesses new to public-private partnerships consider coronavirus-related disaster relief contracts, there are a number of issues general counsel and chief risk officers for these companies should consider that need not be a serious burden on operations, says Jordan Strauss at Kroll.

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