Expert Analysis

• Digging Into Dems' Letter On Subpoena Secrecy Demands

  

  Lawmakers’ recent letter arguing that federal agencies’ use of boilerplate nondisclosure language in subpoenas pressures recipients into silence may lead to a significant overhaul of the current framework, but in the meantime, companies should review their rights and options, say attorneys at Crowell & Moring.

• How Bank Lobby's Suit Tests OCC's Crypto Charter Powers

  

  The Independent Community Bankers of America’s recent lawsuit challenging the Office of the Comptroller of the Currency’s ability to charter cryptocurrency companies marks another chapter in the struggle over the appropriate regulatory framework for digital assets, while raising a classic administrative law question at its most basic level, say attorneys at Ballard Spahr.

• 4 Steps For Cos. Amid Russia Sanctions Law Uncertainty

  

  Russian companies, their U.S. subsidiaries and businesses with Russian commercial relationships should take concrete steps to determine their exposure under ambiguous provisions of legislation that recently expanded the scope of U.S. sanctions, notwithstanding an Oct. 16 executive order waiving most of its restrictions, say attorneys at Wilk Auslander.

• New Calif. Law Ties Finance Contracts To State Licensing

  

  Under a California law taking effect in 2028, commercial financing licensing requirements have been substantially expanded — meaning that fintechs relying on limited regulatory enforcement will face risk from their own borrowers, who could use licensing failures to resist repayment, say attorneys at Husch Blackwell.

• 3rd Circ. Ruling Opens Door For Fraud-On-The-Market Rethink

  

  The Third Circuit's recent decision in Ocugen, holding that a stable stock price after publication of restated financials does not prove immateriality, could be a vehicle for the U.S. Supreme Court to overturn the doctrine undergirding certification of securities class actions, says Jonathan Richman at Brown Rudnick.

• How FCC Robocall Rules Reshape TCPA Opt-Out Compliance

  

  The Federal Communications Commission's recent changes to its Telephone Consumer Protection Act rules may simplify how businesses process consumer opt outs for robocalls and robotexts, but they also introduce nuances to the opt-out process that may be challenging to operationalize, say attorneys at Hunton.

• 5 Issues To Watch As Fed. Circ. Hears Moderna Vax IP Case

  

  Upcoming oral arguments before the Federal Circuit in Arbutus v. Moderna will test whether patent liability protections for government contractors extend to vaccines distributed to the public, and the resolution of certain questions, such as how to define “for the government,” may be key to the outcome, say attorneys at Honigman.

• Managing Employer Risk Under Calif.'s No Robo Bosses Law

  

  California's No Robo Bosses Act marks the state's first statutory limit on using artificial intelligence in employee discipline and termination decisions, creating exposure for employers through its corroboration and notice requirements, burden-shifting framework, and potential reach under the Private Attorneys General Act, say attorneys at Reed Smith.

• IRS Rule May Put Private Schools' Exempt Status At Risk

  

  In light of recently proposed Treasury regulations that would narrow the options for diversifying student communities, private schools should reexamine how race enters their admissions, financial aid and student programs or risk losing tax-exempt status, say attorneys at Atkinson Andelson.

• AG Watch: Minnesota Takes Action To Secure Child Safety

  

  Minnesota Attorney General Keith Ellison has built one of the most aggressive and structurally coherent child protection enforcement programs in the country, targeting consumer-facing sectors that his office has concluded prey on minors, such as tobacco and nicotine, social media platforms, and artificial intelligence, say attorneys at Crowell & Moring.

• Southern Glazer's Deal Tests FTC's Robinson-Patman Push

  

  A California federal court's recent decision in Federal Trade Commission v. Southern Glazer's secures a rare Robinson-Patman Act pricing limitations agreement, but conditions attached to the decision indicate that practitioners may only see a handful of new private RPA cases a year, says Steven Cernak at Bona Law.

• Opinion

  The SEC Crypto Proposal Rests On A Term No One Can Define

  

  The U.S. Securities and Exchange Commission's recently proposed Regulation Crypto Assets is its most ambitious attempt to set rules for the crypto industry, but its repeated use of the phrase "essential managerial efforts" means it perpetuates the uncertainty the regime is meant to cure, says Joseph A. Hall at Davis Polk.

• How DC Circ. Ruling Permits Playacting Bribery Defense

  

  The D.C. Circuit’s recent U.S. v. Burke decision appears to create a circuit split on whether prosecutors must prove public officials’ intent in bribery cases, and opens a gap between what appears to be corrupt conduct and what the law can reach, says Liz Aloi at MoFo.

• Series

  Being In The Peace Corps Made Me A Better Lawyer

  

  When I served in the Peace Corps, the people of the West African village where I was stationed helped me acclimate to my new surroundings and enabled me to develop problem-solving, teamwork and empathy skills that have bolstered my legal practice far beyond the ability to offer technical advice, says Brian Bewley at McGuireWoods.

• Opening Up Fraud Talks With Customers After SAR Guidance

  

  Federal financial regulators’ recent statement that the Bank Secrecy Act permits financial institutions to discuss potential fraud with customers, provided they don’t reveal the existence of any suspicious activity reports, means banks that have been tighter-lipped than regulations require can consider passing additional useful information on to customers, say attorneys at MoFo.