Compliance

  • April 10, 2024

    Blackwells Unveils Takeover Plans For Hospitality REIT

    Blackwells Capital told Braemar Hotels & Resorts Inc. investors on Wednesday that its intention to take the reins of the real estate investment trust's board of directors is necessary to stop a manager from "milking" the company for all it's worth.

  • April 10, 2024

    Pot Cos. Say California City Reneged On Fee Waiver Promise

    Six cannabis companies are suing the city of Cudahy in California federal court, saying the city breached its contracts by refusing to waive fees accrued during national emergencies and city-caused delays, costing the companies more than $26 million in damages.

  • April 10, 2024

    PCAOB Fines KPMG, Deloitte Units $27M For Cheating Claims

    KPMG Netherlands and two Deloitte units will pay a combined $27 million to settle allegations from the Public Company Accounting Oversight Board of widespread answer sharing in their internal training programs, with KPMG's $25 million penalty marking the largest fine PCAOB has ever imposed.

  • April 10, 2024

    Ex-Trump Finance Chief Weisselberg Jailed For Perjury

    A New York state judge on Wednesday sentenced former Trump Organization Chief Financial Officer Allen Weisselberg to five months in jail for lying under oath in the attorney general's civil fraud case against Donald Trump and his business associates, imprisoning a close ally of the former president on the eve of his hush-money trial.

  • April 10, 2024

    EPA Finalizes First-Ever PFAS Drinking Water Standards

    The U.S. Environmental Protection Agency on Wednesday announced the final version of its first-ever regulatory limits on "forever chemicals" in drinking water, a move the EPA said will be accompanied by nearly $1 billion in new funding for implementation.

  • April 09, 2024

    Men Agree To Pay $1M For Robocalls Targeting Black Voters

    A pair of conservative conspiracy theorists have agreed to collectively pay $1 million to resolve litigation stemming from their robocall campaign that spread lies about voting by mail to Black voters ahead of the 2020 election, according to a consent decree filed Monday in New York federal court.

  • April 09, 2024

    'You're Going To Lose These People,' Judge Tells Lynch Atty

    U.S. District Judge Charles Breyer on Tuesday chided a Steptoe partner representing former Autonomy CEO Michael Lynch in his criminal fraud jury trial, saying that his hourslong questioning of a Deloitte partner shouldn't go on much longer, or "you're going to lose these people."

  • April 09, 2024

    5th Circ. Asks For Briefing Amid Scrutiny Of Judge's Citi Stock

    The Fifth Circuit has ordered additional briefing in a banking industry-backed legal challenge to the Consumer Financial Protection Bureau's $8 credit card late-fee rule amid questions that have been raised about a potential conflict of interest involving a circuit court judge on the case.

  • April 09, 2024

    Crypto Booster Says $1B SEC Fraud Suit Offends Free Speech

    The crypto founder known as Richard Heart told a federal judge in Brooklyn on Tuesday that the U.S. Securities and Exchange Commission violated his and others' free speech rights when it brought a case accusing him of selling $1 billion worth of unregistered digital asset securities across his projects and misappropriating customer assets.

  • April 09, 2024

    Ex-Ohio Utility Chair Dies As Criminal Charges Mount

    The onetime chair of Ohio's utility regulator, who was accused of stealing money from FirstEnergy Corp. as part of a bribery scheme behind a controversial $1.3 billion bailout for two nuclear energy plants, died Tuesday in an apparent suicide, the Franklin County Coroner's Office confirmed.

  • April 09, 2024

    Calif. AG Backs Bill To Revamp 'Abysmal' Corporate Penalties

    California Attorney General Rob Bonta gave his full support Tuesday to a state bill that would increase the cap on criminal penalties for corporate malfeasance from the "abysmal penalty" of $10,000 per felony to $25 million, or twice the value of the inflicted loss, and provide all proceeds to California's crime victim services.

  • April 09, 2024

    Philips, Feds Enter Consent Decree Over Sleep Apnea Devices

    Philips Respironics can't make sleep apnea breathing machines until it hires an independent monitor, undergoes inspections and meets its obligations under a plan to remediate patients affected by a 2021 recall of such devices, the U.S. Department of Justice and U.S. Food and Drug Administration announced Tuesday.

  • April 09, 2024

    What's In The Norfolk Southern $600M Derailment Deal

    Last year's fiery Norfolk Southern train derailment and toxic chemical spill in East Palestine, Ohio, reached a litigation milestone Tuesday with the disaster's first major settlement, a proposed $600 million deal with nearby residents and businesses, but the rail giant must still contend with a federal investigation and other lawsuits.

  • April 09, 2024

    Hawaiian Electric Brass Hit With Suit Over Wildfire Preparation

    A Hawaiian Electric Industries Inc. shareholder has alleged in a derivative suit that the company's executives and directors knew that it was not prepared for last year's deadly Maui wildfire, which caused reputational and financial damage to the company.

  • April 09, 2024

    Former Pharma Exec Can't Oust Judge In Contempt Case

    A federal judge in Massachusetts on Tuesday denied what he called a "frivolous" motion to recuse himself from a criminal contempt proceeding against a former pharmaceutical executive who has acknowledged using an alias to flout an injunction banning him from working in the securities field.

  • April 09, 2024

    StarKist, PE Co. Settle Tuna Price-Fixing Claims For $3.9M

    Canned tuna buyers are hoping to settle their long-running price-fixing suit with StarKist and Bumble Bee, asking a California federal judge for preliminary approval of two class action payouts worth a total of $3.87 million.

  • April 09, 2024

    Insurers Can Expect Scrutiny Over AI Use, Pa. Agency Says

    Pennsylvania insurers can expect to receive scrutiny over their use of artificial intelligence tools, the state's insurance department said in guidance that urges companies to take measures to minimize discrimination, inaccuracies and potential harms to consumers.

  • April 09, 2024

    Equitrans Hit With $1.1M Pollution Penalties In Pennsylvania

    The Pennsylvania Department of Environmental Protection unveiled more than $1.1 million in civil penalties against Equitrans Midstream Partners LP on Tuesday for violations related to the company's uncontrolled gas release from its Rager Mountain natural gas storage field in Cambria County.

  • April 09, 2024

    Treasury Proposes Long-Awaited Stock Buyback Tax Rules

    The U.S. Treasury Department proposed a pair of long-awaited rules Tuesday that detail the calculation and reporting of a new excise tax assessed to publicly traded corporations that recently bought back their own shares of stock on the open market.

  • April 09, 2024

    FTC Pressures Global Partners, Gulf Oil Into Reducing Deal

    The Federal Trade Commission took credit Tuesday for raising antitrust concerns spurring the late-February reduction of Global Partners LP's purchase of Northeast U.S. gas terminals from Gulf Oil, cut from five terminals with a $273 million price tag to four terminals and a $212.3 million payment.

  • April 09, 2024

    Challengers To H-2A Wage Rule Denied Extra Discovery

    A federal judge has refused to let agricultural businesses gather more information on the decision-making behind new H-2A agricultural worker minimum wages, rejecting claims that more discovery was warranted in light of a September order allowing the wages to take hold.

  • April 09, 2024

    Poland Adopts Digital Platform Reporting Rules

    Poland's Council of Ministers approved a measure Tuesday implementing the European Union's tax information reporting procedures for digital platform operators, known as DAC7, the country's tax authority said.

  • April 09, 2024

    House GOP To Air Measure Rejecting SEC Climate Rule

    The U.S. House of Representatives' Financial Services Committee will hold a hearing Wednesday morning addressing the U.S. Securities and Exchange Commission's climate disclosure rules, where a leading Republican member of the committee is expected to put forth a resolution that would nullify the rules.

  • April 09, 2024

    UK Court Affirms Sweet VAT Ruling For Jumbo Marshmallows

    Jumbo-size marshmallows are not candy like regular marshmallows because they're meant to be roasted, so they qualify for a value-added tax exemption for food, the U.K. Upper Tribunal ruled in upholding a lower court's findings.

  • April 09, 2024

    47 Members Of Congress Urge DC Circ. To Ax EPA Smog Plan

    Nearly 50 members of Congress called on the D.C. Circuit to strike down the U.S. Environmental Protection Agency's plan to reduce smog-forming emissions in several states, arguing that the agency is infringing on states' authority to establish how they achieve federal air quality standards.

Expert Analysis

  • A Legal Playbook For Stadium Construction Agreements

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    As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.

  • How Policymakers Can Preserve The Promise Of Global Trade

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    Global trade faces increasing challenges but could experience a resurgence if long-held approaches adjust and the U.S. accounts for factors that undermine free trade's continuing viability, such as regional trading blocs and the increasing speed of technological advancement, says David Jividen at White & Case.

  • 10 Areas To Watch In Aerospace And Defense Contracting Law

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    The near future holds a number of key areas to watch in aerospace and defense contracting law, ranging from dramatic developments in the space industry to recent National Defense Authorization Act updates, which are focused on U.S. leadership in emerging technologies, say Joseph Berger and Chip Purcell at Thompson Hine.

  • Why Individual Officers Are BSA-AML Enforcement Targets

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    Banking compliance professionals should use recent enforcement actions against individual officers at both Sterling Bank and the New York State Employees Credit Union to assess whether they are equipped with the tools and authority necessary to avert deficient Bank Secrecy Act and anti-money laundering compliance, says Sam Finkelstein at Volkov Group.

  • How New SEC Rule May Turn DeFi Participants Into 'Dealers'

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    The U.S. Securities and Exchange Commission recently announced a new rule to amend its definition of a securities "dealer," but the change could have concerning implications for decentralized finance and blockchain, as the SEC has suggested it may subject DeFi participants to registration requirements and other regulations, say attorneys at DLA Piper.

  • What Texas Employers Should Know After PWFA Ruling

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    After a Texas federal judge recently enjoined federal agencies from enforcing the Pregnant Workers Fairness Act against the state of Texas, all employers must still remain sensitive to local, state and federal protections for pregnant workers, and proactive in their approach to pregnancy-related accommodations, says Maritza Sanchez at Phelps Dunbar.

  • Opinion

    Judicial Independence Is Imperative This Election Year

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    As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.

  • How Harsher Penalties For AI Crimes May Work In Practice

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    With recent pronouncements from the U.S. Department of Justice that prosecutors may seek sentencing enhancements for crimes committed using artificial intelligence, defense counsel should understand how the sentencing guidelines and statutory factors will come into play, says Jennie VonCannon at Crowell & Moring.

  • 2nd Circ.'s Binance Locus Test Adds Risk For Blockchain Cos.

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    The Second Circuit’s recent use of the irrevocable liability test to rule a class action may proceed against decentralized crypto exchange Binance heightens the possibility that other blockchain-based businesses with domestic customers and digital infrastructure will find themselves subject to U.S. securities laws, say attorneys at Holland & Knight.

  • Legal Issues When Training AI On Previously Collected Data

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    Following the Federal Trade Commission's recent guidance about the use of customer data to train artificial intelligence models, companies should carefully think through their terms of service and privacy policies and be cautious when changing them to permit new uses of previously collected data, says James Gatto at Sheppard Mullin.

  • Protested CFPB Supervisory Order Reveals Process, Priorities

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    The Consumer Financial Protection Bureau’s order announcing its first use of special oversight power to place installment lender World Acceptance Corp. under supervision despite resistance from the company provides valuable insight into which products and practices may draw bureau scrutiny, and illuminates important nuances of the risk assessment procedures, say Josh Kotin and Michelle Rogers at Cooley.

  • Document Retention Best Practices To Lower Litigation Risks

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    As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.

  • Series

    Riding My Peloton Bike Makes Me A Better Lawyer

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    Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.

  • The Challenges SEC's Climate Disclosure Rule May Face

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    Attorneys at Debevoise examine potential legal challenges to the U.S. Securities and Exchange Commission's new climate-related disclosure rule — against which nine suits have already been filed — including arguments under the Administrative Procedure Act, the major questions doctrine, the First Amendment and the nondelegation doctrine.

  • Tips For Healthcare M&A Amid Heightened Antitrust Scrutiny

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    As the Biden administration maintains its aggressive approach to antitrust merger enforcement, prudent healthcare M&A counsel will consider practical advice when contemplating their next transaction, including carefully selecting a merger partner and preparing for a potentially long waiting period prior to closing, say attorneys at Davis Wright.

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