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Expert Analysis

• The SEC's Administrative Law Courts Are At A Crossroads

  

  The U.S. Department of Justice's recent departure from its prior defense of the U.S. Securities and Exchange Commission's administrative law judges' legitimacy moves the forum deeper into a constitutional limbo that likely requires congressional action, says Dean Conway at Carlton Fields.

• SEC's Noteworthy Stablecoin Guidance Comes With Caveats

  

  The U.S. Securities and Exchange Commission recently issued a statement concluding that a narrow class of stablecoins doesn't involve the offer or sale of securities — a significant step forward in recognizing that not all crypto-assets are created equal, though there remains a pressing need for broader regulatory clarity, say attorneys at A&O Shearman.

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  Power To The Paralegals: The Value Of Unified State Licensing

  

  Texas' proposal to become the latest state to license paraprofessional providers of limited legal services could help firms expand their reach and improve access to justice, but consumers, attorneys and allied legal professionals would benefit even more if similar programs across the country become more uniform, says Michael Houlberg at the University of Denver.

• Key Digital Asset Issues Require Antitrust Vigilance

  

  As the digital assets industry continues to mature and consolidate during Trump 2.0, it will inevitably bump up against the antitrust laws in a new way, with potential pitfalls related to merger reviews, conspiratorial or monopolistic conduct, and interlocking directorates, say attorneys at Crowell & Moring.

• Pay Cos. That Adapt Can Benefit As Gov't Ends Paper Checks

  

  Recent executive orders, instructing the government to cease issuing paper checks and to modernize and fraud-proof federal payments, will likely benefit financial services providers that facilitate government disbursements — provided they can manage the challenges and risks of transitioning to fully digital payments, say attorneys at Davis Wright.

• Staying The Course On Consumer Financial Law Compliance

  

  Although there may be some regulatory uncertainty, with many rule changes on hold, and enforcement actions and investigations terminated, 11 fundamental laws and rules governing consumer financial services are unlikely to change, say attorneys at K&L Gates.

• 10 Soft Skills Every GC Should Master

  

  As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.

• An Unrestrained, Bright-Eyed View Of Legal AI's Future

  

  Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.

• Ban On Reputation Risk May Help Bank Enforcement Defense

  

  The Comptroller of the Currency and Federal Deposit Insurance Corp.’s recent commitment to stop examining banks for reputation risk could help defendants in enforcement actions challenge unfavorable assessments and support defendants' arguments for lower civil money penalties, says Brendan Clegg at Luse Gorman.

• Tracking The Evolution In Litigation Finance

  

  Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.

• How Calif., NY Could Fill Consumer Finance Regulatory Void

  

  California and New York have historically taken the lead in consumer financial protection, and both show signs of becoming even more active in this area during the second Trump administration amid an enforcement pullback at the federal level, say attorneys at Sidley.

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  Volunteer Firefighting Makes Me A Better Lawyer

  

  While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.

• Limit On SEC Enforcement Authority May Mean Fewer Actions

  

  Following a recent U.S. Securities and Exchange Commission final rule revoking the Enforcement Division director's long-standing authority to issue formal investigation orders, it's clear the division is headed for a new era of limited autonomy, marked by a significantly slower pace of SEC investigations, say attorneys at Ballard Spahr.

• How Lenders Should Prepare For Crypto As Collateral

  

  Amid the administration's desire to position the U.S. as a digital banking leader, lenders should prepare for customers seeking to use cryptocurrency as collateral for financing, consider which rules govern these transactions, and assess their ability to obtain or maintain control of the virtual funds, say attorneys at Frost Brown.

• As SEC, CFTC Retreat, Who Will Police The Crypto Markets?

  

  As the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission pull back from policing the crypto markets, the Federal Trade Commission and Consumer Financial Protection Bureau have the authority to pick up the slack — although recent events raise doubts that they will do so, say attorneys at Skadden.