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Expert Analysis

• Digital Asset Report Opens Doors For Banks, But Risks Linger

  

  A recent report from a White House working group discussing digital asset market structure signals how banks may elect to expand into digital asset custody, trading and related services in the years ahead, but the road remains layered with challenges, say attorneys at Foley & Lardner.

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  Power To The Paralegals: How And Why Training Must Evolve

  

  Empowering paralegals through new models of education that emphasize digital fluency, interdisciplinary collaboration and human-centered lawyering could help solve workforce challenges and the justice gap — if firms, educators and policymakers get on board, say Kristine Custodio Suero and Kelli Radnothy.

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  Playing Softball Makes Me A Better Lawyer

  

  My time on the softball field has taught me lessons that also apply to success in legal work — on effective preparation, flexibility, communication and teamwork, says Sarah Abrams at Baleen Specialty.

• How Securities Test Nuances Affect State-Level Enforcement

  

  Awareness of how different states use their securities investigation and enforcement powers, particularly their use of the risk capital test over the federal Howey test, is critical to navigating the complicated patchwork of securities laws going forward, especially as states look to fill perceived federal enforcement gaps, say attorneys at WilmerHale.

• IPO Suit Reinforces Strict Section 11 Tracing Requirement

  

  A California federal court's recent dismissal of an investor class action against Allbirds in connection with the company's initial public offering cites the U.S. Supreme Court's 2023 Slack v. Pirani decision, reinforcing the firm tracing requirement for Section 11 plaintiffs — even at the pleading stage, say attorneys at Paul Weiss.

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  Law School's Missed Lessons: Mastering Time Management

  

  Law students typically have weeks or months to prepare for any given deadline, but the unpredictability of practicing in the real world means that lawyers must become time-management pros, ready to adapt to scheduling conflicts and unexpected assignments at any given moment, says David Thomas at Honigman.

• How Hyperlinks Are Changing E-Discovery Responsibilities

  

  A recent e-discovery dispute over hyperlinked data in Hubbard v. Crow shows how courts have increasingly broadened the definition of control to account for cloud-based evidence, and why organizations must rethink preservation practices to avoid spoliation risks, says Bree Murphy at Exterro.

• Key Points From DOJ's New DeFi Enforcement Outline

  

  Recent remarks by the U.S. Department of Justice's Criminal Division head Matthew Galeotti reveal several issues that the decentralized finance industry should address in order to minimize risk, including developers' role in evaluating protocols and the importance of illicit finance risk assessments, says Drew Rolle at Alston & Bird.

• Atkins-Led SEC Continues Focus On Private Funds

  

  Since the change in administration, there has overall been a more accommodative regulatory stance toward private funds, but a recent enforcement action suggests that the U.S. Securities and Exchange Commission is not backing off from enforcement in the space completely, say attorneys at Simpson Thacher.

• 9th Circ. Ruling Leaves SEC Gag Rule Open To Future Attacks

  

  Though the Ninth Circuit's recent ruling in Powell v. U.S. Securities and Exchange Commission leaves the SEC's no-admit, no-deny rule intact, it could provide some fodder for litigants who wish to criticize the commission's activities either before or after settling with the commission, says Jonathan Richman at Brown Rudnick.

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  Writing Musicals Makes Me A Better Lawyer

  

  My experiences with writing musicals and practicing law have shown that the building blocks for both endeavors are one and the same, because drama is necessary for the law to exist, says Addison O’Donnell at LOIS Law.

• A Reminder Of The Limits Of The SEC's Crypto Thaw

  

  As the U.S. Securities and Exchange Commission's regulatory thaw has opened up new possibilities for tokenization projects, the Ninth Circuit's recent decision in SEC v. Barry that certain fractional interests are investment contracts, and thus securities, illustrates that guardrails remain via the Howey test, say attorneys at Skadden.

• Genius Act Poses Strategic Hurdles For Community Banks

  

  ​​​​​​​The pace of change in digital asset policy, including the recent arrival of the Genius Act, suggests that strategic planning should be a near-term priority for community banks, with careful attention to customer relationships, regulatory developments and the local communities they serve, say attorneys at Jones Walker.

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  Adapting To Private Practice: From Va. AUSA To Mid-Law

  

  Returning to the firm where I began my career after seven years as an assistant U.S. attorney in Virginia has been complex, nuanced and rewarding, and I’ve learned that the pursuit of justice remains the constant, even as the mindset and client change, says Kristin Johnson at Woods Rogers.

• Rebutting Price Impact In Securities Class Actions

  

  Defendants litigating securities cases historically faced long odds in defeating class certification, but that paradigm has recently begun to shift, with recent cases ushering in a more searching analysis of price impact and changing the evidence courts can consider at the class certification stage, say attorneys at Katten.