Crypto Bill Faces Wide Criticism Ahead Of Initial Vote

By Aislinn Keely

Senate Republicans on Monday faced obstacles to securing support for their final draft of the Clarity Act ahead of a Tuesday procedural vote to move the crypto bill forward, as Democrats, banking organizations, state law enforcers and even some crypto interests criticized the new version of the legislation as coming up short in key areas.

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Latham, Skadden Prep Bamboo Insurance's $700M IPO Target

By Nate Beck

Bamboo Insurance Services, a Utah home insurance company backed by European private equity firm CVC Capital Partners, unveiled plans Monday to raise up to $700 million in an upcoming initial public offering guided by Latham and Skadden.

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NY AG, CFTC Tussle Over Prediction Markets, Gambling Laws

By Stewart Bishop

The U.S. Commodity Futures Trading Commission on Monday asked a New York federal judge to find that the federal regulator has exclusive jurisdiction over prediction markets and put a stop to efforts by the state of New York to subject event contract providers such as Coinbase and Gemini to state gambling laws.

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City Of London Urges Tax Restraint To Protect Growth

By Josh White

The Labour government shouldn't risk growth by raising taxes on financial and professional services at a time when the economy is fragile, the City of London Corp. said Monday.

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CFTC Touts 'Record' Year With $150M To Whistleblowers

By Jessica Corso

The U.S. Commodity Futures Trading Commission announced Monday it has handed out more than $150 million to whistleblowers over the past two months, and its general counsel said the agency is having a "record year" for awarding tipsters.

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FINRA Pressed To Tighten 'Finfluencer,' AI Communications

By Jessica Corso

A coalition of state regulators has urged the Financial Industry Regulatory Authority to more closely monitor how broker-dealers use social media and artificial intelligence to communicate with the public as FINRA considers providing its members with more leeway on customer outreach.

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court this past week saw disputes over allegedly fabricated board approvals at a telecom infrastructure startup, insider trading and child safety at Roblox Corp. and ownership of artificial intelligence technology used in legal proceedings.

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Ex-Funko Exec To Pay SEC $1M In Insider Trading Case

By Katryna Perera

The U.S. Securities and Exchange Commission reached a $1 million insider trading settlement Monday with a former Funko Inc. executive who allegedly sold his shares after learning that the toymaker's CEO was planning to step down.

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Allianz Affiliate Hit With Sanctions Over Data Spoliation

By Joyce Hanson

A New York federal court has sanctioned a Bermuda-based Allianz affiliate after a software vendor accidentally deleted pertinent data amid the insurer pursuing arbitration against a subsidiary of green energy company Enel SpA over a "proxy revenue swap" deal.

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Chinese Co. To Pay SEC $500K Over Sham Transactions Claim

By Sydney Price

China-based retail platform operator Dada Nexus will pay $500,000 to settle the U.S. Securities and Exchange Commission's claims that its employees carried out fraudulent transactions that allowed the company to overstate its net revenues and costs in filings with the agency.

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Money Transmission Issue Looms For Prediction Markets

The circuit split recently created by the Ninth Circuit's ruling in Kalshi v. Assad has implications reaching beyond gaming regulation as, depending on the ultimate characterization of prediction market event contracts, platforms may face differing obligations under federal and state money transmission laws, say attorneys at Manatt.

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AI And AML: Governance Plays Critical Role In Innovation

Financial institutions adopting artificial intelligence for anti-money laundering compliance should implement governance specific to individual use cases, testing, documentation and human oversight to manage regulatory and enforcement risks as agentic tools expand, say attorneys at Paul Hastings.

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Big Biz Coalition Backs Litigation Funding Disclosure Rule

By Ryan Boysen

Big U.S. businesses and insurers like Amazon, Anthropic, Chubb and Walmart asked the federal judiciary on Monday to tighten disclosure requirements for litigation finance, claiming the lack of guardrails allows funders to operate "in the shadows."

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Indiana Atty Hit With $10K Sanction Over False Citations

By Andrea Keckley

An Indiana federal judge on Friday adopted a magistrate judge's recommendation to sanction a local attorney $10,000 after finding that five briefs in a consumer credit case included citations to nonexistent cases.

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Jackson Lewis Removes Ex-Atty's Bias Suit To Federal Court

By Patrick Hoff

Jackson Lewis PC has moved a former associate's suit accusing the firm of refusing to accommodate her temporary work restrictions following her medical leave to California federal court, saying state court wasn't the right venue for dispute.

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Bove Rejects Recusal Bid Tied To DOJ Whistleblower Claims

By Courtney Bublé

U.S. Circuit Judge Emil Bove declined Monday to recuse himself in a Third Circuit immigration case, saying the attorneys for the petitioner are "recycling a failed pre-confirmation political smear" on him.

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State Farm Attorney Sanctioned $999.99 For AI Hallucinations

By Jonathan Capriel

An attorney for State Farm who filed several motions citing nonexistent cases and fabricated quotes generated by AI software must pay a $999.99 sanction, a Los Angeles judge ruled, an amount one cent below the threshold that would have triggered a mandatory notice to the State Bar of California under state law.

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Brief

Ex-Moses & Singer Partner Gets 10 Months For Tax Crimes

By Craig Clough

A Connecticut federal judge Monday sentenced a former Moses & Singer LLP partner to 10 months of imprisonment and ordered him to pay more than $3.1 million for failing to file personal income tax returns, the U.S. attorney's office announced.

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