ÃÛÌÒÊÓÆµ

Compliance

  • June 10, 2025

    Edward Jones Among 5 Firms Paying $9.3M Over Inflated Fees

    Edward Jones, TD Ameritrade and three other wealth adviser firms have reached a $9.3 million settlement with the North American Securities Administrators Association after having been accused of overcharging fees for small-dollar investors.

  • June 10, 2025

    Deere & Co. Must Face FTC Suit Over Repair Restrictions

    An Illinois federal judge compared John Deere's second attempt at beating a right-to-repair suit to Steve Martin's Pink Panther II reboot, calling it "predictable" and "derivative" as he again rejected the farm equipment giant's motion for judgment on the pleadings and allowed the Federal Trade Commission's case against it to proceed.

  • June 10, 2025

    SEC To Resume Review Of Swiss Adviser Registrations

    Switzerland-based investment advisers seeking to do business in the U.S. can immediately resume submitting new and pending registration applications for consideration with the U.S. Securities and Exchange Commission, regulators said Tuesday.

  • June 10, 2025

    10th Circ. Backs DOL Win In Construction Co. Retirement Suit

    The Tenth Circuit backed the U.S. Department of Labor's win in an enforcement case against a defunct construction firm and its owner alleging retirement plan mismanagement, ruling Tuesday that a Utah federal court properly ended the case after the defendants' repeated failures to respond to court orders.

  • June 10, 2025

    9th Circ. Says Immigration Board Can Review Atty Failure

    The Ninth Circuit ruled Tuesday that the Board of Immigration Appeals failed to adequately explain its conclusion that it couldn't review a Chinese man's claims of ineffective counsel before the appeals court.

  • June 10, 2025

    Insurer Exposed Drivers' Personal Information, Court Told

    An auto-population feature of tech-forward insurer Lemonade's online quote platform negligently disclosed about 190,000 drivers' license numbers to cybercriminals over 17 months, and the website still hasn't been fixed, according to a proposed class action in New York federal court.

  • June 10, 2025

    Trump Wind Farm Pause Has Stalled Projects, Judge Hears

    A coalition of blue states and industry advocates told a federal judge on Tuesday that the recent mothballing of a New Jersey offshore wind project exemplifies the damage being inflicted by the Trump administration's unlawful decision to pause wind farm permitting.

  • June 10, 2025

    Fund Manager, Wife Can't Claim $1.9M Refund, Judge Rules

    A Florida investment fund manager and his wife are not entitled to a $1.9 million income tax refund resulting from a depreciation deduction related to a private jet because the entity that purchased the jet was not operating as a business, a federal judge ruled.

  • June 10, 2025

    Top ÃÛÌÒÊÓÆµ Enforcer Quits Over 'Devastating' Agency Pullback

    The Consumer Financial Protection Bureau's top enforcement official resigned Tuesday, saying she can no longer effectively do her job under leadership that "has no intention to enforce the law in any meaningful way."

  • June 10, 2025

    MoFo Adds Troutman Pepper Financial Services Duo In DC

    Morrison Foerster LLP said Tuesday it is boosting its financial services and fintech groups with the addition of a former Federal Deposit Insurance Corp. executive and a past Federal Reserve Board attorney.

  • June 10, 2025

    Ayahuasca Church Brings Religious Use Case To DC Circ.

    An Iowa church that seeks to use a psychedelic drug in its rites filed a petition Monday with the D.C. Circuit seeking to compel federal drug enforcers to process an application for a religious exemption to the Controlled Substances Act, which has been pending for over six years.

  • June 10, 2025

    SEC's Investment Management Chief Greiner To Leave Agency

    U.S. Securities and Exchange Commission veteran Natasha Vij Greiner is stepping down as the director of the agency's investment management division, ending a nearly 24-year career serving the SEC in multiple roles, regulators announced Tuesday.

  • June 10, 2025

    Judge Denies Gov't Bid To Toss Law Firm's Payroll Tax Suit

    The U.S. government cannot throw out a boutique law firm's suit that seeks a refund of $282,000 in pandemic-era worker retention credits and a pause on payroll tax enforcement, a Connecticut federal judge ruled Tuesday.

  • June 10, 2025

    Catching Up With Delaware's Chancery Court

    Delaware's Court of Chancery showed new resistance to suits alleging corporate weaponizing of advance notice bylaws, and a new report highlighted the high fees that attorneys are cashing in on in Delaware courts compared to the federal court system. Several new suits were also filed concerning allegedly under- or overvalued sales and acquisitions being pushed through.

  • June 10, 2025

    DHL British Unit On Hook For £3M In Duties, Court Says

    A tax tribunal did not err when it upheld HM Revenue & Custom's decision to deny about £3 million ($4 million) in duty relief to cargo aircraft operated by DHL's British affiliate, a U.K. court said, dismissing the company's appeal.

  • June 10, 2025

    Blue States Back Harvard In $2.2B Funding Freeze Fight

    A coalition of 20 states and the District of Columbia filed a brief supporting Harvard University's bid for a pretrial win in its challenge to the Trump administration's move to freeze $2.2 billion in funds, telling a Massachusetts federal judge that the president's attacks on universities are "an attack on the states themselves."

  • June 09, 2025

    Battery Startup, CEO To Pay $300K Over SEC Fraud Claims

    Battery developer NDB Inc. and its CEO have agreed to pay $300,000 in civil penalties to settle allegations by the U.S. Securities and Exchange Commission that they raised $1.2 million from about 70 investors on misleading claims about a "nano diamond battery" NDB aimed to make.

  • June 09, 2025

    Bedoya Exits FTC, But Keeps Up Legal Fight Against Trump

    Alvaro M. Bedoya, one of two Democratic Federal Trade Commission members fired by President Donald Trump, gave notice Monday of his formal resignation in order to pursue other work, but emphasized that he is not dropping his lawsuit against the president.

  • June 09, 2025

    OCC Rebuffs State Bankers' Call To Rescind Preemption Rules

    The Office of the Comptroller of the Currency said Monday that it is standing by its regulations that purport to exempt banks it oversees from a swath of state-law limitations, swatting down a request from state regulators that want these rules overturned.

  • June 09, 2025

    Unions Win Injunction In OPM, DOGE Privacy Suit

    A New York federal judge on Monday granted a preliminary injunction bid against the U.S. Office of Personnel Management in a lawsuit accusing it of unlawfully disclosing employees' personal information to the Department of Government Efficiency, saying OPM granted broad access to the information despite there being no "credible need."

  • June 09, 2025

    Trump Executive Order Revamps US Cybersecurity Policy

    President Donald Trump has moved to "reprioritize" the nation's cybersecurity efforts by issuing an executive order scrapping the provisions of prior directives issued by the past two Democratic administrations while focusing on measures such as mandating more secure software development and the latest encryption protocols. 

  • June 09, 2025

    Russian Crypto CEO, Charged With $530M Fraud, Can't Get Bail

    The Russian CEO of Miami-based cryptocurrency firm Evita was arrested and charged Monday with 22 criminal counts for allegedly orchestrating a $530 million scheme to dodge U.S. sanctions and export controls and launder funds, prompting a New York federal judge to deny him bail given his incentive to flee.

  • June 09, 2025

    SEC's Atkins Floats 'Innovation Exemption' For Crypto

    U.S. Securities and Exchange Commission Chair Paul Atkins said Monday that he's directed agency staff to mull rulemaking that would protect developers of decentralized finance platforms and enable registered firms to interact with their "DeFi" systems, including through a potential "innovation exemption" framework.

  • June 09, 2025

    ÃÛÌÒÊÓÆµ Will Move Ahead With Rest Of Calif. Debt Relief Suit

    The Consumer Financial Protection Bureau told a California federal court on Monday that its new Trump-appointed leadership has decided to proceed with a debt relief services enforcement lawsuit that was paused after control of the agency changed hands in February.

  • June 09, 2025

    Treasury Warns Of Iranian 'Shadow Banking,' Oil Smuggling

    The Treasury Department has laid out red flags that financial institutions should monitor for identifying and reporting possible sanctions evasion schemes and other suspicious activity tied to the Islamic Republic of Iran, including illicit oil smuggling and the use of "shadow banking" networks.

Expert Analysis

  • Calif. Bar Exam Fiasco Shows Why Attys Must Disclose AI Use

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    The recent revelation that a handful of questions from the controversial California bar exam administered in February were drafted using generative artificial intelligence demonstrate the continued importance of disclosure for attorneys who use AI tools, say attorneys at Troutman.

  • The State Of Play For Bank Merger Act Applications

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    Both the Office of the Comptroller of the Currency's recent reversal of changes to its bank merger policies and the Federal Deposit Insurance Corp.'s rescission of its 2024 statement may be relevant for all banks considering a transaction, as responsibility for review depends on the identity of the parties and the transaction structure, say attorneys at Davis Polk.

  • Del. Corporate Law Rework May Not Stem M&A Challenges

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    While Delaware's S.B. 21 introduced significant changes regarding controllers and conflicted transactions by limiting what counts as a controlling stake and improving safe harbors, which would seem to narrow the opportunities to challenge a transaction as conflicted, plaintiffs bringing shareholder derivative claims may merely become more resourceful in asserting them, say attorneys at Debevoise.

  • State AG Focus On Single-Firm Conduct Is Gaining Traction

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    Despite changes in administration, both federal antitrust agencies and state attorneys general have shown a trending interest in prosecuting monopolization cases involving single-firm conduct, with federal and state legislative initiatives encouraging and assisting states’ aggressive posture, says Steve Vieux at Bartko Pavia.

  • What Parity Rule Freeze Means For Plan Sponsors

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    In light of a District of Columbia federal court’s recent decision to stay litigation challenging a Mental Health Parity and Addiction Equity Act final rule, as well as federal agencies' subsequent decision to hold off on enforcement, attorneys at Morgan Lewis discuss the statute’s evolution and what plan sponsors and participants can expect going forward.

  • Max Pressure On Iran May Raise Secondary Sanctions Risk

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    New sanctions designations announced June 6 are the latest in a slew of actions the administration has taken to put pressure on Iran’s military programs and petroleum exports that will likely increase non-U.S. businesses’ secondary sanctions risk, says John Sandage at Berliner Corcoran.

  • Platforms Face Liability Shift Under Anti-Revenge Porn Law

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    The federal Take It Down Act, signed into law last month, aims to combat deepfake pornography with criminal penalties for individual wrongdoers, but the notice and takedown provisions change the broad protections provided by Section 230 of the Communications Decency Act in ways that directly affect platform providers, say attorneys at Troutman.

  • 4 Midyear Employer Actions To Reinforce Compliance

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    The legal and political landscape surrounding what the government describes as unlawful diversity, equity and inclusion initiatives has become increasingly complex over the past six months, and the midyear juncture presents a strategic opportunity to reinforce commitments to legal integrity, workplace equity and long-term operational resilience, say attorneys at Krevolin & Horst.

  • Synopsys-Ansys Merger Augurs FTC's Return To Remedies

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    The Federal Trade Commission's recent approval of $35 billion merger between Synopsys and Ansys, subject to the divestiture of certain assets, signals a renewed preference for settlements over litigation, if the former can preserve competition and a robust structural remedy is available, say attorneys at Simpson Thacher.

  • ÃÛÌÒÊÓÆµ's Guidance Withdrawal Deepens Industry Uncertainty

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    Following the Consumer Financial Protection Bureau's recent withdrawal of dozens of guidance documents in a post-Chevron world, financial services providers are left to make their own determinations about the complex issues addressed in the now-revoked materials, presenting a significant compliance burden, say attorneys at Bradley Arant.

  • Justices Widen Gap Between Federal, Calif. Enviro Reviews

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    While the U.S. Supreme Court's recent opinion in Seven County Infrastructure Coalition v. Eagle County, Colorado, narrowed the scope of National Environmental Policy Act reviews, it may have broadened the gulf between reviews conducted under NEPA and those under the California Environmental Quality Act, say attorneys at Hanson Bridgett.

  • In 2nd Place, Va. 'Rocket Docket' Remains Old Reliable

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    The U.S. District Court for the Eastern District of Virginia was again one of the fastest civil trial courts in the nation last year, and an interview with the court’s newest judge provides insights into why it continues to soar, says Robert Tata at Hunton.

  • SEC Signals Opening For Private Fund Investment Reform

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    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.

  • Parsing A Lack Of Antitrust Info-Sharing Enforcement Clarity

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    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

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    ​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.

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