Expert Analysis

• SEC Signals Opening For Private Fund Investment Reform

  

  At SEC Speaks in late May, the U.S. Securities and Exchange Commission made clear that it's considering allowing registered funds of private funds to be offered broadly to true retail investors, meaning existing funds should review their disclosures focusing on conflicts of interest, liquidity and fees, say attorneys at Stradley Ronon.

• CIPA May Not Be Necessary To Protect Ad Tech Plaintiffs

  

  A California bill designed to protect businesses from advertising technology claims under the California Invasion of Privacy Act by amending the act retroactively has been highly contested by various consumer advocacy groups, but other existing law may sufficiently protect any plaintiff who suffers actual harm from such tech, says Justin Donoho at Duane Morris.

• Parsing A Lack Of Antitrust Info-Sharing Enforcement Clarity

  

  Information sharing among competing firms has recently faced dramatic changes in antitrust agency guidance, while courts grapple with the permissible scope of pricing algorithms, leaving companies in limbo, but potential Trump administration changes could offer some reprieve, say attorneys at Axinn.

• What FCA Liability Looks Like In The Cybersecurity Realm

  

  ​Two recent settlements highlight how whistleblowers and the U.S. Department of Justice have been utilizing the False Claims Act to allege fraud predicated on violations of cybersecurity standards — timely lessons given new bipartisan legislation introducing potential FCA liability for artificial intelligence use, say​ attorneys Rachel Rose and Julie Bracker.

• 'A Deal Is A Deal': Tariffs No Excuse To Dodge Contract Terms

  

  Tariff policy uncertainty is unlikely to be a basis for allowing a party to avoid contractual obligations, but businesses can still plan for future disputes related to pricing, operations and the supply chain, including with the addition of tariffs to any force majeure provision, say attorneys at Arnold Porter.

• Proposed State AI Rule Ban Could Alter Employer Compliance

  

  A proposal in the congressional budget bill that would ban state and local enforcement of laws and regulations governing artificial intelligence may offer near-term clarity by freezing conflicting rules, but long-term planning would remain difficult for employers seeking safe, lawful AI deployment strategies, say attorneys at Fisher Phillips.

• Operating Via Bank Charter Offers Perks Amid Industry Shift

  

  As bank regulators become more receptive to streamlining barriers that have historically stood in the way of de novo bank formation, and as fintechs show more interest in chartering, attorneys at Goodwin outline the types of charters available and their benefits.

• How Attorneys Can Become Change Agents For Racial Equity

  

  As the administration targets diversity, equity and inclusion efforts and law firms consider pulling back from their programs, lawyers who care about racial equity and justice can employ four strategies to create microspaces of justice, which can then be parlayed into drivers of transformational change, says Susan Sturm at Columbia Law School.

• 5 Takeaways From DOJ's Media Compulsory Process Rules

  

  The U.S. Department of Justice’s new rules, making it easier for law enforcement investigating leaks to compel members of the media and third parties to disclose information, could have wide-ranging impacts, from reduced protections for journalists and organizations, to an expanded focus on nonclassified material, say attorneys at WilmerHale.

• Public Cos. Must Heed Disclosure Risks Amid Trade Chaos

  

  Ongoing uncertainties caused by President Donald Trump's shifting stances on tariffs and trade restrictions have exponentially escalated financial reporting pressures on public companies, so businesses must ensure that their operations and accounting practices align with the U.S. Securities and Exchange Commission's standards, say Jennifer Lee at Jenner & Block and Edward Westerman at Secretariat Advisors.

• Seven County Ruling Should Trim Agency Enviro Analysis

  

  The U.S. Supreme Court's ruling in Seven County Infrastructure Coalition v. Eagle County provides needed clarity for infrastructure projects by expressly directing agencies to narrow environmental reviews, and reducing the threat of litigation if even tangential issues are not exhaustively evaluated, say attorneys at Dentons.

• CMS Guidance May Complicate Drug Pricing, Trigger Lawsuits

  

  Recent draft guidance from the Centers for Medicare & Medicaid Services proposes to expand the scope of what counts as the same qualifying single-source drug, which would significantly alter the timeline for modified drugs facing price controls and would likely draw legal challenges from innovator drug companies, say attorneys at Debevoise.

• Digital Equity Act Grant Terminations Raise Key Legal Issues

  

  The Trump administration's move to cancel grant programs created under the Digital Equity Act yields key legal and policy questions facing the executive branch, Congress and the courts, including how the administration plans to implement the cancellation of the Digital Equity Act's appropriations in the first place, say attorneys at Akin.

• GAO Report Reveals How Banks And Regulators Are Using AI

  

  A U.S. Government Accountability Office report published last month makes clear that while both federal regulators and regulated entities like banks and credit unions are employing artificial intelligence to improve efficiency, they're maintaining some skepticism, say attorneys at Orrick.

• Robinson-Patman Enforcement May Fizzle Out After PepsiCo

  

  After securing an early Robinson-Patman Act victory against the largest wine and spirits distributor in the U.S., the Federal Trade commission's voluntary dismissal of its own enforcement action against PepsiCo throws into doubt the future of the federal statute that prohibits price discrimination and other anticompetitive practices, say attorneys at V&E.