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Compliance
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September 18, 2025
SEC Eases Path For Crypto ETPs With New Listing Rules
The U.S. Securities and Exchange Commission has eased a key part of the listing process for crypto exchange-traded products, and attorneys say the move may create a shorter path to market for years to come.
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September 18, 2025
SEC Drops Hunter Biden Biz Pal's Case After Trump Pardon
The U.S. Securities and Exchange Commission has voluntarily dismissed its civil claims against Hunter Biden's former business partner Devon Archer, who President Donald Trump pardoned earlier this year after he was convicted of helping to execute a $60 million bond scam against a South Dakota tribal corporation.
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September 18, 2025
AMG Must Face $85M Fintech Collapse Suit, Customers Say
Account holders and customers of fintech platforms urged a Colorado federal judge Wednesday to reject AMG National Trust Bank's bid to exit litigation attempting to hold it liable for monetary losses related to the collapse of fintech middleman Synapse, arguing AMG's motion is based on faulty data from a consulting group.
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September 18, 2025
Arbitration Clauses Won't Protect IPOs From Investor Suits
With the U.S. Securities and Exchange Commission greenlighting the use of mandatory arbitration clauses for newly public companies, securities litigation experts are waiting to see whether any company is willing to risk the almost inevitable legal blowback that will come with taking advantage of the policy.
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September 18, 2025
FCC Should Follow Exec Branch Policy, Commissioner Says
As President Donald Trump continues to get more involved in the operations of independent federal agencies, a member of the Federal Communications Commission said Thursday the FCC needs to remain accountable to the executive branch.
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September 18, 2025
'Virtual CFO' To Internet Scammers Gets 4 Years
A Rhode Island man who copped to money laundering and obstructing justice in connection with claims his "virtual CFO" business helped internet fraudsters launder over $35 million was sentenced to four years behind bars, Boston prosecutors have announced.
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September 18, 2025
Texas Court Says Citizen Can't Intervene To Uphold Pot Law
The citizen sponsor of a voter-approved marijuana decriminalization ordinance cannot intervene in the deal struck between the state attorney general and city of Elgin that declared the ordinance void, a Texas appeals court ruled, saying the advocate doesn't have standing.
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September 18, 2025
Dems Demand DOJ Explain Binance Plea Deal Compliance
U.S. Sen. Elizabeth Warren and two of her Democratic colleagues have asked U.S. Attorney General Pam Bondi for information on Binance's compliance with its 2023 plea agreement stemming from anti-money laundering lapses, pointing to President Donald Trump's ties to the crypto exchange.
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September 18, 2025
DC Circ. Judge Says PJM Monitor May Have 'Hint Of Paranoia'
The D.C. Circuit didn't seem so sure Thursday morning that the Federal Energy Regulatory Commission was flouting the rules by denying an independent market monitor access to its liaison committee meetings, with one judge saying the monitor seemed to be exhibiting a "hint of paranoia."
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September 18, 2025
2nd Circ. To Weigh EFTA's Scope In NY's Citi Wire Fraud Case
The Second Circuit has granted Citibank's request for an appeal in its fight with New York Attorney General Letitia James over the bank's response to incidents of online wire transfer fraud, agreeing to review whether key federal consumer protections for electronic payments apply to wire transfers initiated over the internet.
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September 18, 2025
Calif. Slams Truck-Makers' Bid To Block Emissions Regs
California has told a federal judge that truck manufacturers seeking to renege on their commitments to follow stringent state emissions standards for heavy-duty trucks in the coming years aren't entitled to an injunction now, and the Trump administration cannot bulldoze California into falling in line.
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September 18, 2025
Groups Look To Block EPA's $3B Grant Cuts Amid Appeal
Conservation, tribal groups, and local and county governments are looking to block the U.S. Environmental Protection Agency from terminating a $3 billion climate grant program while they appeal a decision that dismissed their claims, arguing that public interest and equities weigh heavily in their favor.
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September 18, 2025
FTC Greenlights Amazon Prime Trial For Next Week
A Seattle federal judge has cleared the Federal Trade Commission's consumer protection case against Amazon to go to trial on Monday, finding the company violated at least one requirement of an e-commerce law, yet jurors must still decide if it clearly disclosed Prime subscription terms to users and offered simple cancellation methods.
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September 18, 2025
HHS Shutters Miami Organ Donor Org. For 'Unsafe' Practices
Federal health officials have decertified a Miami-based organ procurement organization that arranges organ donations after an investigation found a pattern of "unsafe" practices, marking the first time the federal government has revoked the certification of such a group, according to an announcement Thursday from Health Secretary Robert F. Kennedy Jr.
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September 18, 2025
Microsoft Whistleblower Suit Can Proceed, Judge Says
A former Microsoft worker can keep pursuing his federal whistleblower claim in his suit accusing the company of firing him for flagging compliance issues and misconduct, a Texas federal court ruled in its order determining the employee's alleged failure to utilize administrative proceedings does not bar him from bringing the claims.
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September 18, 2025
Wells Fargo To Pay $48.5M To End Senior Banker OT Suit
A proposed class of Wells Fargo employees known as "senior premier bankers" asked a California federal judge to give the first OK to a $48.5 million settlement resolving claims that the bank wrongfully exempted thousands of such workers from receiving overtime pay.
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September 18, 2025
EPA Will Maintain Hazardous Designations For PFOA, PFOS
The U.S. Environmental Protection Agency has said it will defend the Biden administration's decision to list two common forever chemicals as hazardous substances under the federal Superfund law.
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September 18, 2025
Conn. Banking Chief Orders $4.9M Restitution In School Fraud
Connecticut's banking commissioner has ordered two companies connected to Putnam Science Academy, a private high school in northeastern Connecticut, and two of its leaders to repay investors more than $4.9 million for allegedly perpetrating an affinity fraud scheme.
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September 18, 2025
Circuit Split On Felon Gun Ban Could Set Up High Court Review
A growing divide among federal appellate courts on how a gun ban for felons fits within the U.S. Supreme Court's 2022 expansion of individuals' right to carry firearms in public could force the high court to revisit the Second Amendment.
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September 18, 2025
DOJ's Slater Says Google Search Fixes Set AI 'Foundation'
The head of the Justice Department Antitrust Division left the door open Thursday to appealing a D.C. federal judge's rejection of the government's most sweeping remedies proposals targeting Google's search monopoly, even as she used New York City remarks to tout the fixes the government did manage to win.
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September 18, 2025
Trading Adviser, Convicted Owner Hit With $2.8M CFTC Fine
A commodity trading adviser and pool operator who pled guilty in Florida federal court to orchestrating a novel cryptocurrency-related scheme to cheat investors has agreed to pay more than $2.8 million as part of a settlement with the Commodity Futures Trading Commission.
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September 18, 2025
Senate Confirms Trump's Pick To Lead DOL Benefits Arm
The Senate confirmed fiduciary liability insurance expert Daniel Aronowitz on Thursday to lead the U.S. Department of Labor's employee benefits division, which oversees regulation and enforcement of employer-provided health and retirement plans.
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September 18, 2025
Gov't OKs 430% Duties For 2 Chinese Wood Floor Exporters
The U.S. Department of Commerce announced final countervailing duty rates for several Chinese wood floor exporters Thursday, indicating two companies will face over 430% rates for their noncooperation with the government's administrative review.
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September 18, 2025
OpenAI Faces Liability Test In Suit Over ChatGPT Suicide
A wrongful death suit accusing OpenAI's artificial intelligence tool ChatGPT of aiding a teenager's suicide is set to be a high-stakes test of the responsibilities that AI firms will have toward vulnerable users, particularly minors exhibiting signs of mental distress, attorneys said.
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September 18, 2025
Dallas Fed Settles Former Employee's Race Bias Case
The Federal Reserve Bank of Dallas resolved an Indian ex-employee's lawsuit alleging he was let go for complaining to management that he and other employees of color received unfair poor performance ratings from a white supervisor, according to a Thursday filing in Texas federal court.
Expert Analysis
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SEC, FINRA Obligations In Changing AI Regulatory Landscape
Despite the U.S. Securities and Exchange Commission's recent withdrawal of its proposed artificial intelligence conflict rules, financial regulators remain focused on firms developing the correct AI compliance framework, as well as continuously testing and supervising them to ensure they're fit for purpose, say attorneys at Cahill Gordon.
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Trump Air Emissions Carveouts Cloud The Regulatory Picture
President Donald Trump's new proclamations temporarily exempting key U.S. industries from air toxics standards, issued under a narrow, rarely-used provision of the Clean Air Act, will likely lead to legal challenges and tighter standards in some states, contributing to further regulatory uncertainty, say attorneys at GableGotwals.
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Series
Playing Baseball Makes Me A Better Lawyer
Playing baseball in college, and now Wiffle ball in a local league, has taught me that teamwork, mental endurance and emotional intelligence are not only important to success in the sport, but also to success as a trial attorney, says Kevan Dorsey at Swift Currie.
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What US Medicine Onshoring Means For Indian Life Sciences
Despite the Trump administration's latest moves to onshore essential medicine manufacturing, India will likely remain an indispensable component of the U.S. drug supply chain, but Indian manufacturers should prepare for stricter compliance checks, says Jashaswi Ghosh at Holon Law Partners.
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How US Cos. Should Prep For Brazil's Int'l Data Transfer Rules
Brazil's National Data Protection Authority's new rules concerning the processing and storing of Brazilians' personal data carry significant reputational risks for the e-commerce, financial services, education and health sectors, so U.S. companies with business in Brazil should prepare ahead of the Aug. 23 compliance date, says Juliane Chaves Ferreira at Guimarães & Vieira de Mello.
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APA Relief May Blunt Justices' Universal Injunction Ruling
The Administrative Procedure Act’s avenue for universal preliminary relief seems to hold the most promise for neutralizing the U.S. Supreme Court’s decision in Trump v. CASA to limit federal district courts' nationally applicable orders, say attorneys at Crowell.
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Wells Fargo Suit Shows Consumer Protection Limits In Mass.
The Massachusetts Appeals Court's May decision in Wells Fargo Bank v. Coulsey underscores that consumer rights are balanced against the need for closure, and even the broad protections of state consumer protection law will not open the door to relitigating the same claims, say attorneys at Greenberg Traurig.
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Series
Ohio Banking Brief: All The Notable Legal Updates In Q2
Ohio's financial services sector saw several significant developments in the second quarter of 2025, including a case that confirmed credit unions' setoff rights, another that established contract rights between banks and cardholders, and the House passage of a digital asset bill, say attorneys at Frost Brown.
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Building Better Earnouts In The Current M&A Climate
In the face of market uncertainty, we've seen a continued reliance on earnouts in M&A deals so far this year, but to reduce the risk of related litigation, it's important to use objective standards, apply company metrics cautiously and ensure short time periods, among other best practices, say attorneys at White & Case.
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Managing Risks As State AGs Seek To Fill Enforcement Gap
Given an unprecedented surge in state attorney general activity resulting from significant shifts in federal enforcement priorities, companies must consider tailored strategies for navigating the ever-evolving risk landscape, say attorneys at Cozen O'Connor.
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A Deep Dive Into 14 Nixed Gensler-Era SEC Rule Proposals
The U.S. Securities and Exchange Commission last month formally withdrew 14 notices of proposed rulemaking, including several significant and widely criticized proposals that had been issued under former Chair Gary Gensler's leadership, signaling a clear and definitive shift away from the previous administration, say attorneys at Dechert.
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Series
Law School's Missed Lessons: Skillful Persuasion
In many ways, law school teaches us how to argue, but when the ultimate goal is to get your client what they want, being persuasive through preparation and humility is the more likely key to success, says Michael Friedland at Friedland Cianfrani.
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A Look At Trump 2.0 Antitrust Enforcement So Far
The first six months of President Donald Trump's second administration were marked by aggressive antitrust enforcement tempered by traditional structural remedies for mergers, but other unprecedented actions, like the firing of Federal Trade Commission Democrats, will likely stoke heated discussion ahead, says Richard Dagen at Axinn.
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FCA Working Group Reboot Signals EHR Compliance Risk
The revival of the False Claims Act working group is an aggressive expansion of enforcement efforts by the Justice Department and the U.S. Department of Health and Human Services targeted toward technology-enabled fraud involving electronic health records and other data, say attorneys at ArentFox Schiff.
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Reform Partly Modernizes Small Biz Stock Gains Exclusion
Changes to the Internal Revenue Code in the One Big Beautiful Bill Act update the qualified small business stock gains exclusion to reflect inflation, but the regime would be more in line with current business realities if Congress had also made the exemption available to additional business structures, says Mark Parthemer at Glenmede.