Compliance

  • April 30, 2024

    Sen. Warren Probes Annuity Cos. Over Use Of 'Secret' Perks

    Large annuity providers are using lavish vacations and other kickbacks to drive sales that disadvantage consumers, Sen. Elizabeth Warren, D-Mass., said Tuesday, demanding information from more than a dozen companies on the heels of a new Labor Department rule aiming to ramp up scrutiny on financial advisers.

  • April 30, 2024

    UK Fund Cites Jacobs' Qatar Oversight Failings In Del. Suit

    A UK pension fund investor in the U.S.-based business that oversaw construction of 2022 World Cup soccer facilities in Qatar has sued the company's directors in Delaware's Court of Chancery, seeking recovery of damages arising from director failures to monitor human rights violations reported by workers.

  • April 30, 2024

    $626M Fee Award In BCBS Deal Is Unjust, High Court Told

    A member of the class that settled multidistrict litigation with Blue Cross Blue Shield for $2.67 billion over anti-competitive practices has asked the U.S. Supreme Court to take up his challenge to the $626 million attorney fees award in the settlement, arguing the Eleventh Circuit's approval of the award runs counter to high court precedent.

  • April 30, 2024

    FTC To Help FCC Enforce 'Net Neutrality' Rules

    The Federal Communications Commission has called on a sister agency, the Federal Trade Commission, to cooperate on enforcing the FCC's restored "net neutrality" rules to require the free flow of network traffic.

  • April 30, 2024

    FTC Continues To Target 'Junk' Drug Patents

    Federal trade officials told a series of pharmaceutical companies — including the makers of the controversial diabetes and weight loss drug Ozempic — that they may have listed faulty patents in a key register of a federal drug database.

  • April 30, 2024

    Pa. Schools Say Railcar Cos. Must Face Derailment Claims

    Pennsylvania school districts have told a federal judge that railcar companies cannot evade allegations they negligently shipped toxic chemicals in retrofitted tank cars during last year's Norfolk Southern derailment in East Palestine, Ohio, saying the environmental and health harms in their communities can be tied to the companies' conduct.

  • April 30, 2024

    10th Circ. Says Biden Can Raise Contractors' Minimum Wage

    President Joe Biden's minimum hourly wage increase for federal contractors to $15 is intertwined with furthering the economy and is therefore supported by the Procurement Act, a split Tenth Circuit panel ruled Tuesday, agreeing with a Colorado federal court to keep the wage bump.

  • April 30, 2024

    FTC Digging Into $2.3B Walmart-Vizio Deal

    The Federal Trade Commission wants information about Walmart's $2.3 billion plan to take over smart television maker Vizio before it decides whether to sign off on the controversial acquisition.

  • April 30, 2024

    Crypto Exec Denies $2B Laundering Charges, Is Out On Bail

    The CEO of crypto mixer Samourai Wallet has pled not guilty to charges he helped facilitate over $2 billion in illegal transactions and was released on $1 million bail after surrendering to federal authorities voluntarily.

  • April 30, 2024

    EPA Chief Faces House Appropriators Hostile To Agency Regs

    Former Interior Secretary Ryan Zinke grilled U.S. Environmental Protection Agency Administrator Michael Regan at a congressional budget hearing Tuesday, telling him a new coal-fired power plant emissions rule threatens to increase ratepayer costs.

  • April 30, 2024

    8th Circ. Orders BASF Damages Trial In Herbicide Row

    An Eighth Circuit panel on Tuesday once again directed a Missouri federal court to hold a trial to assess punitive damages for BASF Corp. in litigation alleging the sale of herbicide-resistant seeds led to the destruction of a farm's peach trees when herbicide drifted from neighboring farms.

  • April 30, 2024

    Dechert Adds Wilson Sonsini, Ex-SEC Crypto Expert In DC

    A cryptocurrency and financial technology attorney who spent nearly six years with the U.S. Securities and Exchange Commission has left his most-recent role as a partner with Wilson Sonsini Goodrich & Rosati PC to join Dechert LLP in Washington, D.C., the firm announced Tuesday.

  • April 30, 2024

    Feds Endorse Easing Marijuana Status In Big Policy Shift

    Federal drug enforcers will recommend loosening restrictions on cannabis for the first time since the drug was made federally illegal decades ago, the U.S. Department of Justice announced Tuesday.

  • April 30, 2024

    Goodwin Private Funds Partner Joins Fried Frank In NY

    Fried Frank has announced it hired a New York-based asset management attorney who spent more than a decade at Simpson Thacher & Bartlett LLP and was most recently a partner at Goodwin Procter LLP.

  • April 30, 2024

    IRS Updates Guidance For Clean Jet Fuel Tax Credits

    The Internal Revenue Service released guidance Tuesday that updated an environmental model that manufacturers of a low-carbon alternative to conventional jet fuel, such as ethanol, can use to qualify for a new tax credit and provided a safe harbor for producers to meet the incentive's requirements.

  • April 30, 2024

    FTC Says Novant Wants Court To Ignore Local Competition

    Novant Health can't ask a federal judge to ignore evidence that buying two North Carolina hospitals will stymie competition in the region just because those facilities are supposedly struggling and the proposed deal might shore up resources, the Federal Trade Commission said in a brief doubling down on its bid to block the $320 million buyout.

  • April 30, 2024

    Binance Founder Gets 4 Mos. For Lax Money Laundering Policy

    Binance founder Changpeng Zhao was sentenced Tuesday to four months in prison for his failure to implement an effective anti-money laundering program at the global crypto exchange, as a federal judge rejected a more severe punishment sought by the government citing concerns about sentencing disparity.

  • April 30, 2024

    High Court Won't Stay Texas' Porn Site Age Check Law

    The U.S. Supreme Court on Tuesday declined to stay a Fifth Circuit decision that allowed a portion of a Texas law requiring visitors to adult-oriented websites to prove their age before accessing content.

  • April 30, 2024

    EPA Finalizes Methylene Chloride Ban

    The U.S. Environmental Protection Agency on Tuesday finalized a rule banning all consumer uses and most industrial and commercial uses of methylene chloride, a chemical regulators say can increase cancer risks and cause reproductive damage with repeat exposure. 

  • April 29, 2024

    ReNew Health To Pay $7M To Settle COVID-19 FCA Claims

    ReNew Health Group LLC has agreed to pay the federal government and California $7 million to settle whistleblower allegations that the healthcare provider misused a COVID-19 waiver intended to free up hospital beds by submitting fraudulent claims for nursing home residents, the U.S. Department of Justice announced Friday.

  • April 29, 2024

    Judge Rejects 2 Challenges To Medicare Drug Price Talks

    A New Jersey federal judge on Monday shot down a pair of challenges to the Medicare drug price negotiations, extending a string of court victories for the Biden administration as it defends the talks as entirely voluntary.

  • April 29, 2024

    Google Hit With Copyright Claims Over AI Image Generator

    A group of visual artists has filed a proposed class action claiming Google's text-to-image artificial intelligence tool Imagen is trained by copying "enormous amounts" of artists' copyrighted works without authorization, the latest suit challenging the use of vast datasets for AI training.

  • April 29, 2024

    5th Circ. Urged To Block CFPB's Credit Card Late Fee Rule

    Banking industry trade groups have called for the Fifth Circuit to act quickly to put the Consumer Financial Protection Bureau's $8 credit card late fee standard on hold, arguing that large credit card issuers stand to suffer "substantial" losses if it goes into effect even for just one day.

  • April 29, 2024

    9th Circ. Upholds NRC's Exemption For Diablo Canyon Plant

    A Ninth Circuit panel ruled Monday that the U.S. Nuclear Regulatory Commission did not act arbitrarily or capriciously when it allowed Pacific Gas & Electric Co. to belatedly renew its license to continue operating California's last remaining nuclear power plant.

  • April 29, 2024

    TD Ameritrade Fined $600K Over Flawed Automated Approvals

    TD Ameritrade Inc. has agreed to pay a $600,000 fine to the Financial Industry Regulatory Authority, which alleged the online stock trading platform relied on an inadequate automated approval system for options trading that allowed risk-prone customers to be approved for certain trades despite red flags.

Expert Analysis

  • FTC Noncompete Ban Signals Rising Labor Focus In Antitrust

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    The Federal Trade Commission’s approval this week of a prohibition on noncompete agreements continues antitrust enforcers’ increasing focus on labor, meaning companies must keep employee issues top of mind both in the ordinary course of business and when pursuing transactions, say attorneys at Skadden.

  • Breaking Down EEOC's Final Rule To Implement The PWFA

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    Attorneys at Littler highlight some of the key provisions of the U.S. Equal Employment Opportunity Commission's final rule and interpretive guidance implementing the Pregnant Workers Fairness Act, which is expected to be effective June 18, and departures from the proposed rule issued in August 2023.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

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    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Tips For Balanced Board Oversight After A Cyberincident

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    The U.S. Securities and Exchange Commission's cybersecurity disclosure rules, as well as recent regulatory enforcement actions bringing board governance under scrutiny, continue to push boards toward active engagement in relation to their cyber-oversight role, despite it being unclear what a board's level of involvement should be, say attorneys at Alston & Bird.

  • 9th Circ. Ruling Puts Teeth Into Mental Health Parity Claims

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    In its recent finding that UnitedHealth applied an excessively strict review process for substance use disorder treatment claims, the Ninth Circuit provided guidance on how to plead a Mental Health Parity and Addiction Equity Act violation and took a step toward achieving mental health parity in healthcare, says Mark DeBofsky at DeBofsky Law.

  • Breaking Down DOJ's Individual Self-Disclosure Pilot Program

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    The U.S. Department of Justice’s recently announced pilot program aims to incentivize individuals to voluntarily self-disclose corporate misconduct they were personally involved in, complementing a new whistleblower pilot program for individuals not involved in misconduct as well as the government's broader corporate enforcement approach, say attorneys at Paul Weiss.

  • Cos. Must Prepare For Calif. Legislation That Would Ban PFAS

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    Pending California legislation that would ban the sale or distribution of new products containing intentionally added per- and polyfluoroalkyl substances could affect thousands of businesses — and given the bill's expected passage, and its draconian enforcement regime, companies must act now to prepare for it, say attorneys at Alston & Bird.

  • How To Prepare As Employee Data Reporting Deadlines Near

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    As filing deadlines approach, government contractors and private companies alike should familiarize themselves with recent changes to federal and California employee data reporting requirements and think strategically about registration of affirmative action plans to minimize the risk of being audited, say Christopher Durham and Zev Grumet-Morris at Duane Morris.

  • Address Complainants Before They Become Whistleblowers

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    A New York federal court's dismissal of a whistleblower retaliation claim against HSBC Securities last month indicates that ignored complaints to management combined with financial incentives from regulators create the perfect conditions for a concerned and disgruntled employee to make the jump to federal whistleblower, say attorneys at Cooley.

  • Ensuring Nonpublic Info Stays Private Amid SEC Crackdown

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    Companies and individuals must take steps to ensure material nonpublic information remains confidential while working outside the office, as the U.S. Securities and Exchange Commission continues to take enforcement actions against those who trade on MNPI and don't comply with new off-channel communications rules in the remote work era, say attorneys at BakerHostetler.

  • What Cos. Are Reporting Under New SEC Cybersecurity Rule

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    Four months after its effective date, 14 companies have made disclosures under the U.S. Securities and Exchange Commission's mandatory cybersecurity incident reporting rule, and some early trends are emerging, including a possible rush to file, say attorneys at Debevoise.

  • 10 Tips For ESG Disclosure Compliance In Private Funds

    Excerpt from Practical Guidance
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    As regulators increase scrutiny of misleading claims about environmental, social and governance investments, private fund sponsors should consider several practical tips for communicating accurately with potential investors, drafting comprehensive disclosures and establishing internal policies that can keep pace with evolving compliance requirements, says Jonathan Rash at Ropes & Gray.

  • Proactive Strategies Can Reduce Truck Cos.' Accident Liability

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    The legal complications of trucking accidents can be grave — so transportation companies and their attorneys should implement proactive strategies that include driver safety programs, pre-accident legal counseling, electronic monitoring and attorney involvement at crash scenes, says Mandy Kolodkin at Segal McCambridge.

  • What's In OCC's Proposed Freedom Of Information Act Update

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    In this article, Christine Docherty at Goodwin discusses the Office of the Comptroller of the Currency's proposed amendments to its regulations implementing the Freedom of Information Act, and how these changes might align with guidance from other regulators.

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