CFTC Sends Event-Contracts Swaps Proposal To White House

By Aislinn Keely

The U.S. Commodity Futures Trading Commission has submitted two rule proposals to the White House that appear to explicitly establish event contracts as swaps while excluding "casino-style gambling products," updates that could affirm the agency's view that prediction markets are under its "exclusive jurisdiction" and beyond the reach of states.

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Google Beats Suit Over 'Pig Butchering' App Scams, For Now

By Dorothy Atkins

A California federal judge tossed with leave to amend Monday a proposed class action alleging Google falsely advertised its Google Play Store as safe despite allowing swarms of "pig butchering" crypto-scam apps, finding that the claims are barred by Section 230 of the Communications Decency Act.

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SEC Says Investors Lost $15M In Crypto, AI Scams

By Jessica Corso

The U.S. Securities and Exchange Commission filed a pair of lawsuits Tuesday against companies likely controlled by individuals abroad who it says scammed customers out of $15 million involving cryptocurrency trading and fake artificial intelligence-backed bots.

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Key Bank Policymaking Official To Depart Treasury

By Jon Hill

Luke Pettit, a top U.S. Department of the Treasury official who has helped shepherd the Trump administration's financial services policy agenda will step down next month, becoming the latest federal regulatory official to decamp in advance of the midterm elections.  

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X Corp. Says Crypto Gambling Company Bribed X Employees

By Spencer Brewer

X Corp. told a Texas federal court that a company behind two controversial crypto gambling websites, which allegedly bribed X employees, cannot arbitrate claims that X unfairly removed their access to its website.

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3 Firms Build Capitolis' $200M Deal To Acquire eSecLending

By Jade Martinez-Pogue

Financial technology company Capitolis on Tuesday unveiled plans to buy eSecLending from private equity shop Parthenon Capital in a $200 million all-cash deal built by three law firms.

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Akin Adds House Financial Services Staffer To Lobbying Team

By Alison Knezevich

Akin Gump Strauss Hauer & Feld LLP said Tuesday a former senior staff member on the U.S. House Committee on Financial Services has joined its lobbying and public policy practice in Washington, D.C.

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What Comes Next For Digital Asset Regs After Clarity Act Flop

After the U.S. Senate recently blocked the Digital Asset Market Clarity Act, agency rulemaking could still offer a near-term remedy, and companies meanwhile should monitor the existing framework assembled from enforcement precedent and case law in the absence of a purpose-built statute, say attorneys at Ropes & Gray.

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Roundup

Hub Hires: Mintz, Foley Hoag, Barclay Damon

By Chris Villani

Boston saw several significant moves across its legal landscape as the summer wound down, with Foley Hoag adding an experienced debt finance attorney from Goodwin Procter, a boutique white collar firm snagging a longtime federal prosecutor, and Mintz getting new leadership for the first time in nearly two decades.

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Armstrong Teasdale Builds Chicago M&A Team With 2 Hires

By Tracey Read

Armstrong Teasdale LLP has expanded its corporate services group's Chicago presence with a new partner from Polsinelli PC and a counsel from McDonald Hopkins LLC, the firm announced Wednesday.

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Interim U. Of Fla. Law Dean Named To Permanent Role

By Madison Arnold

The University of Florida has selected its interim dean for the Levin College of Law, a former King & Spalding LLP attorney, to serve in the role on a permanent basis.

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Texas AG Says ABA Stifling Law School Competition

By Spencer Brewer

The Texas Attorney General announced an investigation into the American Bar Association relating to alleged anticompetitive conduct in the association's accreditation of law schools, claiming Wednesday that the ABA "weaponized its accreditation authority" to push "unconstitutional racial and gender preference requirements."

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DOJ Atty Picked For Judgeship Probed On Fulton County Raid

By Courtney Bublé

A top U.S. Department of Justice official tapped for a federal judgeship faced questions from Democratic lawmakers on Wednesday about the department's investigation's in Fulton County, Georgia, over Trump's allegations of fraud in the 2020 election.

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DOJ Accuses Judges Of Ethics Violations With Press Remarks

By Jack Karp

Several Minnesota federal judges ran afoul of their ethical obligations when they commented on President Donald Trump's immigration policies in a recent news article, the U.S. Department of Justice said in a judicial misconduct complaint filed Wednesday.

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Leaders Of Smaller Firms Say Talent, Not Tech, Is Top Issue

By Daniel Connolly

Leaders of small to midsized law firms are expressing more concern about a longstanding problem, the cost of hiring and retaining talented attorneys, than they are about a new issue, the cost of AI and other technology, according to a survey released Wednesday.

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Blank Rome Seeks Time To Exit LIV Golf's Fla. Office

By Ben Zigterman

Blank Rome LLP on Wednesday filed a limited objection to LIV Golf's motion to reject its sublease at an office building in West Palm Beach, Florida, saying it didn't receive any advance notice and would like until the end of October to transition to a new office.

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The Law360 Pulse Prestige Leaders: A Look At The Top Firms

Today's most prestigious firms attract top talent and marquee clients while posting record profits. Here's a look at the top 10 firms in this year's Law360 Pulse Prestige Leaders, a ranking of the firms that stand out for their prominence, power and distinction.

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3rd Circ. Calls Westlaw AI Fight 'Ordinary Copyright Case'

By Ivan Moreno

The Third Circuit said the first appellate fight over artificial intelligence training and fair use ultimately came down to an "ordinary copyright case," affirming that Ross Intelligence infringed Thomson Reuters' Westlaw headnotes when it used them to train a competing legal research platform.

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