SECOND EDITED -- DON'T PUBLISH YET -- The Federal Reserve’s plan to codify and clarify its rules for making bank control determinations could lower barriers for banks to boost their investments in financial technology firms and help unlock additional private capital for smaller banks, financial services attorneys say.
Astellas Pharma US Inc. and Amgen Inc. will pay a combined $125 million to settle allegations that they used charities to subsidize Medicare co-pays for their own drugs in what amounted to illegal kickbacks, the U.S. Attorney's Office for the District of Massachusetts announced Thursday.
Mid-size and large employers have until Sept. 30 to tell the U.S. Equal Employment Opportunity Commission how much they paid workers of different sexes, races and ethnicities last year, a Washington, D.C., federal judge said Thursday.
California lawmakers have advanced eight industry-backed amendments that would scale back the scope of the state's landmark privacy law, including by changing how the law defines personal information.
Lockheed Martin has asked a federal court to end the government’s False Claims Act suit alleging it paid bribes to snag a cleanup contract at the defunct Hanford plutonium production facility, saying the government’s allegations ignore congressional intent and U.S. Supreme Court precedent.
An attorney for the former chief financial officer of a Platinum Partners fund told a New York federal jury his client did not defraud investors, saying they were told of the liquidity problems that led to the downfall of the now defunct $1 billion hedge fund manager.
Voya has avoided a fine by self-reporting to the Financial Industry Regulatory Authority that the company failed for eight years to give discounts on sales charges to eligible charities and people saving for retirement.
U.S. regulators remain cautious about imposing strict regulatory structures on fintech companies, a pair of federal officials said Wednesday, suggesting that regulatory sandboxes could be a better option in the near-term.
More than three-quarters of law firms and corporate legal departments plan to increase their spending on cybersecurity during the next year, according to the results of a Robert Half Legal survey announced Wednesday.
The U.S. Environmental Protection Agency has refused to update drilling waste disposal rules following a court-ordered review, saying that states can handle any waste-related environmental issues that have arisen during the U.S. oil and gas boom.
The penalty for failing to file foreign bank account reports is not limited to $10,000 per year, a California district court ruled in upholding nearly $50,000 in penalties imposed by the Internal Revenue Service on a woman for undeclared accounts in the U.K.
Facebook expects to be fined between $3 billion and $5 billion by the U.S. Federal Trade Commission for privacy lapses, in what would dwarf previous penalties the agency has given to technology giants, the company said Wednesday.
A day trader accused of receiving inside information from a former UBS Group AG compliance officer frequently spent thousands of pounds on nights out at Tramp, a private members club in London’s smart Mayfair district, a London jury heard Wednesday.
Banks and tech companies that want federal agencies to standardize their reporting requirements should say so in public comment letters, staff at the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission said at a gathering in New York on Tuesday.
The U.S. Department of Justice’s first felony charges accusing a drug distributor of fueling the opioid crisis involve familiar allegations of reckless painkiller sales that until now have been punished with civil penalties. But the accusations are also backed up by direct accounts of C-suite complicity, one of several factors that likely tipped the case into criminal waters.
A New York federal jury on Tuesday heard opening arguments in the long-awaited fraud trial of former Platinum Partners executives accused of conning the now defunct $1 billion hedge fund's investors, with a prosecutor saying the case boils down to "deception and greed."
A new Utah law that forces police to obtain a warrant before they can gain access to any person's electronic data could have implications far beyond law enforcement, including for how employers and big tech companies respond to police demands for data.
The former Davis Polk partner tapped Monday as Facebook’s next general counsel is joining the social media giant amid unprecedented government scrutiny, but a packed resume shows she is no stranger to dealing with international policy and probing questions from lawmakers.
The U.S. Equal Employment Opportunity Commission has announced five settlements in disability, religion and age bias cases since Thursday, garnering a total of $415,000 in payouts and wrapping up lawsuits against companies including retailer Party City and grocery store chain Safeway.
Big companies and other organizations across a variety of industries are boosting their ethics and compliance efforts, particularly in internal investigations, according to a new report from KPMG LLP.
Recent guidance from the U.S. Securities and Exchange Commission may help issuers avoid having their future initial coin offerings categorized as unregistered securities offerings. But for past ICOs, issuers must rely on the SEC's remediation process, and should consider two key questions before proceeding, says Kayvan Sadeghi of Schiff Hardin.
The Conference of State Bank Supervisors' recently announced suggestions to harmonize state law frameworks for nonbank fintech companies could be particularly beneficial to cryptocurrency companies, for whom the applicable regulatory landscape is especially uncertain, say attorneys at Cleary Gottlieb.
Against the backdrop of the Illinois Supreme Court's Biometric Information Privacy Act opinion in Rosenbach v. Six Flags, an Illinois appellate court's recent decision in Liu v. Four Seasons reinforces that companies must carefully design and implement stringent BIPA policies to protect against class actions and related liability, say attorneys with Eversheds Sutherland.
The U.S. Department of Justice's about-face on Affordable Care Act constitutionality may discourage potential whistleblowers from coming forward unless the DOJ clarifies its plans to enforce the False Claims Act, says Cleveland Lawrence III of Mehri & Skalet.
In a recent Law360 guest article, the author applauded the disappearance of jury trials as an inefficient, costly mechanism, but in doing so he overlooked the greater value of jury trials for our justice system, says Stephen Susman, executive director of the Civil Jury Project at NYU School of Law.
During the past 15 years, three widely read articles bolstered by starstruck media have promulgated the incorrect perception — sorely in need of revision — that the U.S. Supreme Court bar is limited to a handful of elite lawyers, says Lawrence Ebner of Capital Appellate Advocacy.
The U.S. Securities and Exchange Commission recently settled with the founder of Jumio for his misstatement of financial results to inflate the value of his company shares. This case is an example of what may be in store if an economic downturn hits the current stable of unicorns, say Joshua Newville and Brian Hooven at Proskauer.
Some questions during U.S. Supreme oral arguments in Kisor v. Wilkie suggested a willingness to overturn Auer deference. If this leads to the scuttling of Chevron deference, rapidly evolving areas of law like labor and employment could benefit from a return to courts addressing ambiguities in federal statutes, says Michael Abcarian of Fisher Phillips.
As demonstrated by a Pennsylvania federal court's recent decision in Mielo v. Steak 'n Shake, it soon may no longer be possible to bring Americans with Disabilities Act claims against a company for failure to enact a policy that requires finding and removing potential physical barriers, say attorneys at Squire Patton Boggs.
When changes in clean energy regulations lead to investor disputes, domestic companies may be limited to challenging regulatory changes in local courts, but investors from abroad can often seek remedies under international law, say attorneys at WilmerHale.