Expert Analysis

• OCC Rule Tests Nonfiduciary Powers Of Trust Banks

  

  The Office of the Comptroller of the Currency's updates to its final rule on national bank chartering, effective April 1, may augur a showdown between the OCC, states and traditional banking institutions over both the authority of national trust banks to engage in nonfiduciary activities under the National Bank Act, and the scope of federal preemption, says Audrey Carroll at Stinson.

• Proposed Oracle Act Tests NY's Prediction Markets Clout

  

  New York's proposed Oracle Act could if passed force a high-stakes showdown over event contracts in the prediction markets as well as state gambling laws, and legal practitioners should closely monitor litigation, parallel developments in other states, Commodity Futures Trading Commission rulemaking and congressional action, says Linda Goldstein at CM Law.

• How A High Court Music Piracy Ruling Shrinks ISP Liability

  

  The U.S. Supreme Court's recent opinion in Cox Communications Inc. v. Sony Music Entertainment, which concerned the boundaries of contributory copyright infringement for internet service providers, dramatically lessens both the risk that an ISP will be held contributorily liable and, relatedly, the incentives an ISP may have to help combat online copyright infringement, say attorneys at Debevoise.

• How Cos. Can Prepare For California's Textile Recovery Act

  

  Staged implementation of California's Responsible Textile Recovery Act, establishing the state's first extended producer responsibility program for apparel and textile articles, has begun — and companies that review their data readiness, contracts and exposure risks now will be best prepared when the act comes into full effect, says Thierry Montoya at FBT Gibbons.

• 'A-C-T' Agenda Signals New Regulatory Era At SEC Speaks

  

  At this year's SEC Speaks, U.S. Securities and Exchange Commission Chairman Paul Atkins unveiled his ambitious A-C-T agenda — advance, clarify and transform — to align the federal securities regulatory regime with modern markets, illustrating that the conference was not merely a status update but an action plan, say attorneys at Perkins Coie.

• Opinion

  AI Presents A Make-Or-Break Moment For Outside Counsel

  

  The rapid adoption of artificial intelligence by corporate legal departments is forcing a long-overdue reset of the relationship between inside and outside counsel, and introducing a significant opportunity to shed frustrating inefficiencies and strengthen collaboration for firms willing to embrace the shift, says Intel Chief Legal Officer April Miller Boise.

• Opinion

  USPTO Has A Chance To Correct Double-Patenting Doctrine

  

  Now that the issue of obviousness-type double patenting is front and center before the U.S. Patent and Trademark Office's Appeals Review Panel, the agency should put an end to the practice of rejecting earlier-expiring patents in favor of later-expiring ones, say attorneys at Orrick.

• 1st AI Acquisition Regulation Raises Contractor Concerns

  

  The General Services Administration’s recently published contract clause addressing artificial intelligence systems is problematic in a number of ways, underscoring the complex legal and practical issues that will need to be addressed as AI becomes more widely deployed in federal contracting, say attorneys at Haynes Boone.

• DOJ Actions Suggest Expansion Of Healthcare Enforcement

  

  Recent actions by the U.S. Department of Justice and U.S. Food and Drug Administration suggest that federal healthcare enforcement efforts are moving away from traditional program-based fraud and toward cases centered on product integrity, regulatory transparency and telehealth marketing, effectively widening the government's enforcement playbook, say attorneys at MoFo.

• 8 Tariff Refund Questions For Restructuring Professionals

  

  For restructuring and turnaround professionals, seeking refunds following the U.S. Supreme Court's recent decision invalidating tariffs imposed under the International Emergency Economic Powers Act raises several questions about how to capture legitimate recoveries while protecting an enterprise from the consequences of its own history, says Jonny Frank and Laura Greenman at StoneTurn, and Andrew Popescu at Province.

• Defense Deals Can Trigger Extra HSR Filing With The DOD

  

  Certain aerospace, defense and national security M&A transactions will require a concurrent Hart-Scott-Rodino Act filing to the U.S. Department of Defense, and practice tips for navigating this extra filing include early analysis of competitive implications of sector deals and planning for concurrent filings, say attorneys at White & Case.

• Navigating Life Sciences Deals Amid Heightened Scrutiny

  

  With pricing reform initiatives, national security legislation and evolving trade policy currently contributing to meaningful uncertainty for life sciences companies, it is important to proactively structure deals to avoid downstream complications, say attorneys at Cooley.

• Series

  Watching Hallmark Movies Makes Me A Better Lawyer

  

  I realize you may be judging me for watching, and actually enjoying, Hallmark Channel movies, but the escapism and storylines actually demonstrate qualities and actions that lead to an efficient, productive and positive legal practice, says Karen Ross at Tucker Ellis.

• NY Bill Elevates Criminal Risk For 'Shadow' Crypto Firms

  

  New York's proposed CRYPTO Act would expose unlicensed digital asset operators to criminal penalties ranging from state misdemeanor charges to felony convictions, potentially marking a significant shift in how New York — already among the most aggressive crypto regulators — oversees virtual currency businesses, say attorneys at Crowell & Moring.

• Opinion

  AVOID Act Creates 3rd-Party Litigation Risks For Transpo Cos.

  

  New York's Avoiding Vexatious Overuse of Impleading to Delay Act, which takes effect next month, will require new risk management strategies from transportation companies as it attempts to drastically change the scope of third-party litigation while failing to address practical realities of civil disputes, says Steven Saal at Lucosky Brookman.