Compliance

  • January 21, 2020

    Citibank Fined $18M Over Uninsured Flood-Prone Homes

    Citibank will pay nearly $18 million to settle a federal banking regulator's claim that it dithered in buying mandatory flood insurance for borrowers whose homes were in flood-prone areas, the regulator said Tuesday.

  • January 21, 2020

    2 Insys Execs Get Less Than 3 Years In Opioid Kickback Case

    One former Insys Therapeutics Inc. executive was sentenced to nearly three years in prison and a second got six months less on Tuesday for their roles in a racketeering conspiracy to bribe doctors to prescribe the company’s powerful opioid spray and lie to insurance companies so they would pay for the expensive drug.

  • January 17, 2020

    Fed's Quarles Pitches 'Transparency' Push In Supervision

    The Federal Reserve's supervisory czar said Friday that he wants to bring more clarity and predictability to the agency's oversight of banks, outlining a series of proposals including creating an online database of old rule interpretations and reining in examiners' use of regulatory warnings.

  • January 17, 2020

    Supreme Court Calls For More Briefing After ADEA Hearing

    The U.S. Supreme Court on Friday ordered the parties in a federal age discrimination case to file supplemental briefs about alternative ways to remedy age bias in the workplace other than the Age Discrimination in Employment Act, just days after the court heard oral arguments.

  • January 17, 2020

    Facebook Must Turn Over App Data As Part Of Mass. Probe

    As part of an investigation launched in the wake of the Cambridge Analytica scandal, Facebook Inc. will have to turn over to the Massachusetts attorney general the names of any apps on its platform that may have misused user data, a state judge ruled Friday.

  • January 17, 2020

    Former RBC Analyst Avoids Prison For Insider Trading

    A Manhattan federal judge on Friday allowed a former RBC Capital Markets junior analyst to avoid prison for reaping $126,000 of profit via insider trading, including trading ahead of a secret private equity deal, crediting his quick guilty plea and remorse.

  • January 17, 2020

    Bradley Arant Nabs Former Assistant US Atty In NC

    A former assistant U.S. attorney has joined Bradley Arant Boult Cummings LLP as a partner in the firm's government enforcement and investigations practice group.

  • January 17, 2020

    Feds Seek To Jam Revolving Door In High-Profile Cases

    Federal prosecutors are questioning whether a Skadden attorney should be disqualified from defending a former trader at JP Morgan against spoofing charges in the latest example of the U.S. Department of Justice claiming an ex-government attorney may have brought too much inside information through the revolving door.

  • January 17, 2020

    Judge Doubts Suit Can Undo FCC Accounting Rule Freeze

    A D.C. Circuit judge told a group of telecom consultants and former senior staffers of the Federal Communications Commission on Friday that he doubts they have legal standing to seek reinstatement of an old agency accounting method governing national and in-state phone networks.

  • January 17, 2020

    Calif. Jumps Into Fight With Feds Over Fracking Impact

    California on Friday joined environmental groups in accusing the federal government of failing to properly assess the environmental and health impacts of hydraulic fracturing on more than 1 million acres of land in the Golden State now open for oil and gas development.

  • January 17, 2020

    US Steel Hit With More Fines Over Pa. Facility Emissions

    A Pennsylvania county announced nearly $745,000 in fines against U.S. Steel Inc. on Friday for alleged pollution control violations at the company’s Clairton Coke Works facility, adding to millions in penalties previously levied against the steelmaker by the county.

  • January 17, 2020

    FAA Properly Vetted Boeing Max Jets, Review Panel Finds

    The Federal Aviation Administration vetted Boeing's 737 Max jet according to rigorous aircraft certification procedures, a special review committee has said, suggesting any heavy-handed overhaul of the FAA's program could upend aviation safety.

  • January 16, 2020

    NLRB Advice Memos Tackle Investigations, Arbitration Pacts

    In a new round of guidance memos, the National Labor Relations Board's advice division tackles Obama-era precedent on workplace investigations and weighs in on the legality of a "voluntary" arbitration agreement.

  • January 16, 2020

    Telegram, SEC Seek Quick Result In $1.7B Crypto Case

    Telegram and the U.S. Securities and Exchange Commission have filed dueling motions for summary judgment in a case where the agency alleges that the messaging company's $1.7 billion offering of digital tokens constituted the sale of unregistered securities.

  • January 16, 2020

    Exxon Says Mass. AG Timed Climate Suit With NY Trial

    ExxonMobil on Thursday suggested Massachusetts Attorney General Maura Healey timed the launch of her lawsuit accusing the oil giant of deceiving investors and consumers about business risks from climate change to coincide with a landmark climate fraud trial in New York. 

  • January 16, 2020

    Pot Lobbies Urge Key Senator Not To Undermine Banking Bill

    Cannabis lobbies pressed a key Senate committee leader to back off on a suggested change to a marijuana banking bill in a letter Thursday, saying a proposed 2% cap on THC potency is a poison pill that would doom the legislation.

  • January 16, 2020

    Feds Beef Up Claims Against Kansas Prof Over China Program

    Prosecutors on Thursday unveiled a new, more detailed indictment against a University of Kansas researcher accused of hiding his ties to a Chinese university.

  • January 16, 2020

    DOJ Clears Optometry Org To Expand Purchasing Power

    The U.S. Department of Justice's Antitrust Division signed off Wednesday on the American Optometric Association's plans to expand its group purchasing abilities to include lenses and other optometric products, saying that adequate safeguards have been put in place against anti-competitive harm.

  • January 16, 2020

    Reps. Seek To Exempt Crypto Transaction Gains Under $200

    Lawmakers in the U.S. House of Representatives introduced bipartisan legislation on Thursday that would provide a tax exemption for everyday virtual currency transactions with gains worth $200 or less in value.

  • January 16, 2020

    Walmart Beats EEOC Discrimination Suit Over Sabbath Work

    A Wisconsin federal judge granted Walmart an early win Thursday over a U.S. Equal Employment Opportunity Commission lawsuit alleging the retail giant engaged in discrimination by rescinding a man’s job offer because he refused to work on his Sabbath, ruling that Walmart had offered reasonable accommodations.

  • January 16, 2020

    Ex-REIT Exec Tells Wary 2nd Circ. Witness Hid Payment Offer

    The Second Circuit looked tempted Thursday to erase the conviction of ex-real estate investment trust chief financial officer Brian Block, after his lawyer accused a key trial witness of hiding an offer of financial support that came from a friend who filed a whistleblower complaint against Block's former company.

  • January 16, 2020

    Outspoken SEC Commissioner Jackson To Leave Agency

    U.S. Securities and Exchange Commissioner Robert Jackson, who has vigorously opposed many of the agency's deregulatory moves that he considered a threat to investor protection, said Thursday he will leave office on Feb. 14 to teach at New York University School of Law.

  • January 16, 2020

    Garland, EPA Atty Clash Over Impact Of Past Pollution Ruling

    The D.C. Circuit’s chief judge on Thursday balked at the U.S. Environmental Protection Agency’s justification for denying requests by Delaware and Maryland to reduce air pollution blowing in from other states, contending that the agency relied on a regulation the appeals court contested in a similar dispute last fall.

  • January 16, 2020

    Cannabis And Cybersecurity Among Top HR Concerns In 2020

    Changing marijuana laws and data security with regard to sensitive consumer and employee information are the top concerns for human resources professionals heading into 2020, according to a survey released Thursday by an HR consulting firm.

  • January 16, 2020

    SEC Urges Justices Not To Cuff Its Disgorgement Power

    The U.S. Securities and Exchange Commission told the U.S. Supreme Court that closing off the agency's ability to obtain disgorgement in federal court cases would throw a wrench into enforcing securities law, pushing back against challengers that argue such relief strays beyond the bounds of the agency's statutory authority.

Expert Analysis

  • Courts’ Deference To DOL Joint Employer Rule Is Up In The Air

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    Employers should use the U.S. Department of Labor’s narrowed standard for determining joint employer status under the Fair Labor Standards Act as a guidepost until federal courts weigh in on whether and to what extent they will defer to the new rule, say Alexander Passantino and Kevin Young at Seyfarth.

  • Iran Airspace Bans May Lead To EU Passenger Claims

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    After the recent killing of Qasem Soleimani and the downing of Ukraine International Airlines Flight 752, the commercial aviation sector must consider how resulting restrictions on air travel may affect passenger compensation claims under European Union rules, says James Jordan of Holman Fenwick.

  • Key Trends In Energy Antitrust Enforcement And Litigation

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    Antitrust agencies and private litigants continued to focus on the energy industry in 2019, and new antitrust policy initiatives announced by the U.S. Department of Justice last year will offer energy companies opportunities to avoid prosecution in certain cases, say attorneys at Vinson & Elkins.

  • Don't Let Moonlighting Undermine Employment Visa Status

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    Employees with nonimmigrant visas should be educated about the parameters of lawful U.S. employment because they may not know that earning extra income through a side gig could render them ineligible for permanent residence down the road, say Douglas Halpert and Jessica Cadavid at Hammond Law Group.

  • Climate Law Brings Challenges For NYC Co-Ops And Condos

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    New York City's Climate Mobilization Act leaves several unanswered questions for co-ops and condos, such as what will happen to buildings with rent-regulated units, how buildings will pay for compliance costs, and how building owners will divide CMA responsibilities with tenants, says William McCracken of Ganfer Shore.

  • PCAOB's 2019 Enforcement Actions Hint At 2020 Focus

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    The Public Company Accounting Oversight Board's modest increase in enforcement actions in 2019 suggests the board's 2020 priorities will include non-U.S. firms, quality control standards, workpaper accuracy and independence violations, says Robert Cox of Briglia Hundley.

  • 5 Predictions For FCPA Enforcement In 2020

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    In addition to joining the chorus of others who predict that increased global engagement by U.S. authorities will lead to record levels of Foreign Corrupt Practices Act enforcement, we also expect 2020 will bring changes in FCPA restitution, calculation of damages, declinations to prosecute and more, say attorneys at V&E.

  • Baseball Scandal Highlights Compliance Lessons For Banks

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    The MLB's recent disciplinary action against the Houston Astros for stealing other teams' hand signals underscores compliance lessons for banks and other financial institutions, whose regulators are similarly focused on insufficient institutional controls, say Mitchel Kider and Michael Kieval at Weiner Brodsky.

  • Calif. Ruling Clears Up Pay Stub Rules For Company Names

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    A California appellate court recently ruled in Noori v. Countrywide Payroll that use of an unregistered acronym on wage statements violated the state’s Labor Code, providing guidance on the requirement that pay stubs include an employer’s legal name, says Kirsten Gallacher at Wilson Turner.

  • FIRREA Remains Potent Civil Fraud Enforcement Tool

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    Last year, three court decisions addressing the Financial Institutions Reform, Recovery and Enforcement Act's civil monetary penalties provision — two at the final judgment stage and one at the pleadings stage — expanded FIRREA jurisprudence and remind us why this statute cannot be ignored, say attorneys at Morgan Lewis.

  • HHS Drug Import Proposal Is Unlikely To Succeed

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    The U.S. Department of Health and Human Services' outline for allowing states to import drugs from Canada raises questions about the U.S. Food and Drug Administration's authority to implement the rule and may be an attempt to deflect blame for high drug prices to manufacturers, say attorneys at King & Spalding.

  • Managing Money Laundering Risk In The Art Trade

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    The Office of Foreign Assets Control's recent declaration that a Lebanese art dealer's gallery was used to conceal Hezbollah financing is a reminder to the art community of the need for strict compliance with U.S. criminal anti-money laundering laws, say Nicole Horowitz and Brendan Hanifin of Ropes & Gray.

  • What SEC's Accredited Investor Proposal Means For PE Funds

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    A recent proposal from the U.S. Securities and Exchange Commission would allow more investors to participate in private offerings, but divisions at the SEC and among investment advocates suggest further debate may be ahead before a finalized rule emerges, say Michael Gold and Nicholas Stewart at Saul Ewing.

  • How Associate Life Has Evolved Over The Past Decade

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    During the last 10 years, the need to embrace change was fundamental for law firms, and that change affected associates in many ways — most, but not all, for the better, says Brad Kaufman, co-president of Greenberg Traurig.

  • The New Class Action Frontier Under Illinois Privacy Law

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    One year after a pivotal Illinois Supreme Court ruling broadened liability under the Biometric Information Privacy Act, companies in a wide variety of industries need to be vigilant of a rise in potentially financially ruinous class action filings, and there are several steps they can take to protect themselves from BIPA liability, say attorneys at Ropes & Gray.