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Expert Analysis

• A New Tool For Assessing Kickback Risks In Health Marketing

  

  The Seventh Circuit's recent decision in U.S. v. Sorensen, reversing a conviction after trial of a durable medical equipment distributor, highlights two principle considerations for determining whether payments to marketers in healthcare are unlawful under the Anti-Kickback Statute, says Elisha Kobre at Sheppard Mullin.

• Crunching The Numbers Of Trump SEC's 1st 100 Days

  

  During the first 100 days of the second Trump administration, the U.S. Securities and Exchange Commission brought significantly fewer stand-alone enforcement actions than at the beginning of the Biden and the first Trump administrations, with every one of the federal court complaints including allegations of fraudulent conduct, say attorneys at Dentons.

• Series

  Adapting To Private Practice: From DOJ Enviro To Mid-Law

  

  Practitioners leaving a longtime government role for private practice — as when I departed the U.S. Department of Justice’s environmental enforcement division — should prioritize finding a firm that shares their principles, values their experience and will invest in their transition, says John Cruden at Beveridge & Diamond.

• Independent Contractor Rule Up In The Air Under New DOL

  

  In several recent court challenges, the U.S. Department of Labor has indicated its intent to revoke the 2024 independent contractor rule, sending a clear signal that it will not defend the Biden-era rule on the merits in anticipation of further rulemaking, say attorneys at Jackson Lewis.

• AG Watch: Letitia James' Major Influence On Federal Litigation

  

  While the multistate cases brought by New York Attorney General Letitia James appear to be based upon her interpretation of the effect of the Trump administration's policies on New York state and its residents, most also have a decidedly political tone to them, says Dennis Vacco at Lippes Mathias.

• Why Trade Cases May Put Maple Leaf Deference On Review

  

  When litigation challenging the president’s trade actions reaches the Federal Circuit, the court will have to reevaluate the Maple Leaf standard in light of the U.S. Supreme Court's 2024 Loper Bright decision limiting Chevron-like deference to cases involving statutory provisions in which Congress delegated discretionary authority to the executive branch, say attorneys at Wiley.

• Risk Control Tips For Banks With Cryptocurrency Customers

  

  Given federal policy shifts, cryptocurrency's presence within the U.S. banking system will doubtless increase, so banks should keep in mind key risk control considerations when accepting funds related to cryptocurrency transactions — and make sure they know their customers and the crypto industry, says Jason Noto at Polsinelli.

• A Look At Probabilistic Tracing After High Court's Slack Ruling

  

  Recent decisions following the U.S. Supreme Court's 2023 ruling in Slack v. Pirani have increased the difficulty of pleading Securities Act claims for securities issued in direct listings by rejecting the use of statistical probabilities to establish that share purchases were traceable to a challenged registration statement, says Jonathan Richman at Brown Rudnick.

• 3 Change Management Tools To Boost Compliance Efforts

  

  As companies grapple with rapidly changing regulations and expectations, leaders charged with implementing their organizations’ compliance programs should look to change management principles to make the process less costly and more effective, says Liisa Thomas at Sheppard Mullin.

• How Trump Orders Affect Health Orgs.' Care For Trans Minors

  

  Two recent executive orders issued by President Donald Trump regarding gender-affirming care for minors have put healthcare organizations in a precarious situation, and these institutions should prepare for various implications and potential scenarios, say attorneys at ArentFox.

• FDIC Rules Rollback Foretells More Pro-Industry Changes

  

  The Federal Deposit Insurance Corp.’s March withdrawal of Biden-era proposals to tighten brokered deposit rules and impose new corporate governance standards shows that acting chair Travis Hill’s commitment to reviewing regulations that may restrict growth and innovation for financial institution and fintech companies is unlikely to flag soon, say attorneys at Cooley.

• DOJ Memo Maps Out A Lighter Touch For Digital Assets

  

  A recent memo issued by the Justice Department signals a less aggressive approach toward the digital asset industry, with notable directives including disbandment of the National Cryptocurrency Enforcement Team, a higher evidentiary bar for unlicensed money transmitting, and prosecutions of individuals rather than platforms, say attorneys at Cleary.

• SEC Update May Ease Accredited Investor Status Verification

  

  The U.S. Securities and Exchange Commission recently opened a new avenue to verifying accredited investor status, which could encourage more private fund sponsors and other issuers to engage in a general solicitation with less fear that they will lose the offering's exemption from registration under the Securities Act, say attorneys at Simpson Thacher.

• Legal Ethics Considerations For Law Firm Pro Bono Deals

  

  If a law firm enters into a pro bono deal with the Trump administration in exchange for avoiding or removing an executive order, it has an ethical obligation to create a written settlement agreement with specific terms, which would mitigate some potential conflict of interest problems, says Andrew Altschul at Buchanan Angeli.

• How To Address FCA Risk After 4th Circ. Ruling On DEI Orders

  

  Following the Fourth Circuit's ruling in National Association of Diversity Officers in Higher Education v. Trump, which freed the administration to enforce executive orders targeting diversity, equity and inclusion programs, government contractors should take stock of potentially unlawful DEI programs, given their heightened risk under the False Claims Act, say attorneys at Sidley.