Compliance

  • May 22, 2024

    Wells Fargo Tries 2 Tactics To Get Overdraft Fee Suit Bounced

    Wells Fargo is arguing to a South Dakota federal judge that customers suing as a potential class fully knew they were subject to penalties when they bounced checks, and that an arbitration clause obligates them to handle disputes outside court.

  • May 22, 2024

    Accepting Price-Fix Tech Invite Can Be Enough: DOJ Official

    An advisor to the Justice Department's top competition official continued to argue Wednesday that signing onto a price setting algorithm can be enough to trigger antitrust liability if the program was billed as fixing prices.

  • May 22, 2024

    FCC Weighs Requiring AI Disclosures In Political Ads

    The Federal Communications Commission will soon decide if it needs new rules requiring disclosure of content generated with artificial intelligence in radio and TV political ads.

  • May 22, 2024

    Archegos Exec Says Founder Didn't Direct Him To Lie

    The former director of risk management for Archegos told a Manhattan federal jury on Wednesday that the collapsed hedge fund's founder never instructed him to lie to banks in order to finance trading activity, as a defense lawyer sought to poke holes in the government's fraud case.

  • May 22, 2024

    Doc Gets 3 Mos. For Alexion Trades Despite 'Meaningful Job'

    A doctor was sentenced to three months in prison Wednesday for insider trading on an Alexion Pharmaceuticals acquisition, with a Manhattan federal judge saying the defendant's treatment of critically ill, underserved kidney disease patients does not amount to a "get out of jail free card."

  • May 22, 2024

    MilliporeSigma Avoids Charges As DOJ Extols Self-Disclosure

    Life sciences firm MilliporeSigma won’t face charges over the illegal exportation of products to China, in what the Justice Department said Wednesday was the first time its National Security Division had declined prosecution under a policy intended to encourage companies to voluntarily disclose wrongdoing,

  • May 22, 2024

    'Pump-And-Dump' Claims Sputter In 'Disorganized' RICO Suit

    A Michigan federal judge on Tuesday freed multiple defendants accused of funding a "pump-and-dump" scheme, saying a company suing over shareholders' alleged $3 million losses couldn't prove that the defendants made any plans together, while taking jabs at both sides' "disorganized" filings.

  • May 22, 2024

    SC Gov. Signs Earned Wage Access Bill Into Law

    South Carolina has become the fifth state to approve a new law governing so-called earned wage access products, which provide workers with cash advances, as the Palmetto State joins Nevada, Missouri, Wisconsin and Kansas in regulating the products.

  • May 22, 2024

    EPA Urges Justices To Keep Ozone Fight In DC Circ.

    The U.S. Environmental Protection Agency on Tuesday urged the Supreme Court to keep seven consolidated challenges to the EPA's decision disapproving Utah's and Oklahoma's air quality plans in the D.C. Circuit.

  • May 22, 2024

    NY Federal Reserve Associate GC Rejoins Covington

    A former Covington & Burling LLP associate who left the firm 13 years ago to join the Federal Reserve Bank of New York has returned to work as of counsel, the firm announced Tuesday.

  • May 22, 2024

    Oil Tanker Operators To Pay $2M For Dumping Oil From Ship

    The operators of the motor tanker PS Dream pled guilty in Louisiana federal court as part of a $2 million plea deal with the U.S. Department of Justice that includes four years of probation, after a whistleblower shared a video of oil being deliberately pumped overboard in January 2023.

  • May 22, 2024

    NYSE Parent Agrees To $10M SEC Fine Over Cyber Breach

    The U.S. Securities and Exchange Commission announced Wednesday that the Intercontinental Exchange Inc. has agreed to pay $10 million to settle allegations that it failed to timely report a data breach that impacted the New York Stock Exchange and eight other subsidiaries.

  • May 22, 2024

    CFPB Says Some Credit Card Standards Apply To BNPL Firms

    The Consumer Financial Protection Bureau said Wednesday that shoppers using buy-now, pay-later products are covered by some of the same federal safeguards as those that apply to traditional credit cards, issuing the agency's first-ever guidance directed at this fintech-heavy field of financing.

  • May 22, 2024

    Citigroup Fined £61.6M For Trading Systems Failings

    Two finance regulators said Wednesday they have fined Citigroup Global Markets Ltd. a total of £61.6 million ($78.4 million) for failures in trading systems that led to the lender mistakenly selling $1.4 billion in equities into European markets.

  • May 21, 2024

    Feds Can't Show Autonomy Jury Report Showing Audit Issues

    The California federal judge overseeing a criminal trial over claims Autonomy's former CEO conned HP into buying the U.K. company for $11.7 billion denied prosecutors' bid Tuesday to show jurors a British accounting watchdog's findings that Deloitte failed to catch misleading information in Autonomy's books.

  • May 21, 2024

    Minn. Poised To Join State Data Privacy Law Patchwork

    Minnesota is on the brink of becoming the latest state to enact comprehensive data privacy legislation, after the legislature sent to the governor's desk a measure that would give consumers more control over how companies use their personal information, including for profiling purposes, and require businesses to appoint a lead privacy official. 

  • May 21, 2024

    Realtors Want Rethink After DOJ Antitrust Probe Allowed

    The National Association of Realtors has asked the D.C. Circuit for a rehearing after the appeals court found the U.S. Department of Justice can reopen an antitrust investigation into the trade group despite an earlier agency settlement over the association's rules.

  • May 21, 2024

    Calif. Justices Doubt App-Based Drivers' Prop 22 Challenge

    Several California Supreme Court justices pushed back Tuesday against arguments by ride-hailing drivers that the Proposition 22 ballot measure carving out certain app-based workers from a worker classification law unconstitutionally runs afoul of the Legislature's authority, with one justice saying their position could "freeze out" voter-approved initiatives.

  • May 21, 2024

    Banks Urged To Vote Out Exxon Leaders Who Sued Investors

    A group of state and city financial officials sent letters to some of the biggest banks and asset managers Tuesday urging them to vote against Exxon Mobil Corp.'s CEO and lead independent director at an upcoming annual meeting because of the company's lawsuit against a pair of environmentally minded activist investors.

  • May 21, 2024

    Bankrupt SVB Fights To Keep $1.9B Suit Against FDIC Alive

    The bankrupt former parent company of Silicon Valley Bank urged a California federal judge on Tuesday not to toss its suit against the Financial Deposit Insurance Corp. that seeks to get the deposit insurer to return $1.93 billion, saying the FDIC has not fulfilled its obligation to turn over the company's account funds.

  • May 21, 2024

    SEC Slams Ripple's Bid To 'Hide' Financial Info From Public

    The U.S. Securities and Exchange Commission is protesting Ripple Labs' bid to conceal certain financial information from the public as it fights the agency's attempt to impose a $2 billion penalty for unregistered cryptocurrency sales, arguing that the company's call for transparency in the case should extend to itself.

  • May 21, 2024

    Mich. Judge Doubts Abortion Laws Pass Constitutional Muster

    A Michigan state judge on Tuesday was skeptical state regulators could impose a waiting period and other requirements on people seeking abortions without violating a state constitutional amendment enshrining the right to abortion.

  • May 21, 2024

    SEC Fines KeyBank Broker-Dealer Over Reg BI Failures

    The U.S. Securities and Exchange Commission on Tuesday ordered Key Investment Services LLC to pay more than $200,000 for allegedly failing to address conflicts of interest with Regulation Best Interest.

  • May 21, 2024

    Nixing Green Energy Tax Perks Would Be Tough For Trump

    Former President Donald Trump has vowed to scrap Democrats' signature 2022 climate law should he get reelected in November, but following through on that campaign promise could prove difficult amid bipartisan support for many of the law's clean energy tax incentives and a potentially divided Congress.

  • May 21, 2024

    Apple Tees Up Bid To Toss DOJ IPhone Monopoly Suit

    Apple argued that it has the right to choose how it does business in a preview Tuesday of its upcoming explanations for why a New Jersey federal judge should dismiss the Justice Department lawsuit accusing the iPhone maker of restricting third-party app access to monopolize the smartphone market.

Expert Analysis

  • Series

    Swimming Makes Me A Better Lawyer

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    Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.

  • Mid-2024 FCA Enforcement And Litigation Trends To Watch

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    Reviewing notable False Claims Act trends and enforcement efforts in the last year and a half reveals that healthcare is a key enforcement priority for the U.S. Department of Justice, and the road ahead may bring clarification on Anti-Kickback Statute causation and willfulness standards, along with increased focus on private equity, cybersecurity and self-disclosure, say attorneys at Epstein Becker.

  • Key Priorities In FDIC Report On Resolving Big Bank Failures

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    The Federal Deposit Insurance Corp.'s report last month on the resolvability of large financial institutions contains little new information, but it does reiterate key policy priorities, including the agency's desire to enhance loss-absorbing capacity through long-term debt requirements and preference for single-point-of-entry resolution strategies, say attorneys at Freshfields.

  • Justices' Title VII Ruling Requires Greater Employer Vigilance

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    The U.S. Supreme Court’s recent Muldrow v. St. Louis ruling expands the types of employment decisions that can be challenged under Title VII, so employers will need to carefully review decisions that affect a term, condition or privilege of employment, say attorneys at Morgan Lewis.

  • Opinion

    SEC Should Be Allowed To Equip Investors With Climate Info

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    The U.S. Securities and Exchange Commission's new rule to require more climate-related disclosures will provide investors with much-needed clarity, despite opponents' attempts to challenge the rule with misused legal arguments, say Sarah Goetz at Democracy Forward and Cynthia Hanawalt at Columbia University’s Sabin Center for Climate Change.

  • 8 Fla. Statutes That Construction Cos. Should Prepare For

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    In this article, Jason Lambert at Hill Ward discusses a number of recent bills out of the Florida Legislature targeting construction companies in the Sunshine State that have been sent to the governor for signature, at least some of which will have broad impacts that affected companies should prepare for ahead of the July 1 effective date.

  • Manufacturers Should Pay Attention To 'Right-To-Repair' Laws

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    Oregon’s recently passed "right-to-repair" statute highlights that the R2R movement is not going away, and that manufacturers of all kinds need to be paying attention to the evolving list of R2R statutes in various states and consider participating in the process, says Courtney Sarnow at Culhane.

  • Microplastics At The Crossroads Of Regulation And Litigation

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    Though there are currently not many federal regulations specifically addressing microplastics as pollutants, regulatory scrutiny and lawsuits asserting consumer protection claims are both on the rise, and manufacturers should take proactive steps to implement preventive measures accordingly, say Aliza Karetnick and Franco Corrado at Morgan Lewis.

  • New Federal Bill Would Drastically Alter Privacy Landscape

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    While the recently introduced American Privacy Rights Act would eliminate the burdensome patchwork of state regulations, the proposed federal privacy law would also significantly expand compliance obligations and liability exposure for companies, especially those that rely on artificial intelligence or biometric technologies, says David Oberly at Baker Donelson.

  • How Cos. Can Comply With New PFAS Superfund Rule

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    The U.S. Environmental Protection Agency's new rule designating two per- and polyfluoroalkyl substances as "hazardous substances" under the Superfund law will likely trigger additional enforcement and litigation at sites across the country — so companies should evaluate any associated reporting obligations and liability risks, say attorneys at Alston & Bird.

  • How EB-5 Regional Centers Can Prepare For USCIS Audits

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    In response to the recently announced U.S. Citizenship and Immigration Services guidelines that require EB-5 regional center audits every five years to verify their compliance with immigration and securities laws, regional centers should take steps to facilitate a seamless audit process, say Jennifer Hermansky and Miriam Thompson at Greenberg Traurig.

  • Social Media Free Speech Issues Are Trending At High Court

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    The U.S. Supreme Court's recent decision examining what constitutes state action on social media can be viewed in conjunction with oral arguments in two other cases to indicate that the court sees a need for more clarity regarding how social media usage implicates the First Amendment, say attorneys at Kean Miller.

  • Opinion

    CFPB Could, And Should, Revise Open Banking Rulemaking

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    In light of continued global developments in open banking, the Consumer Financial Protection Bureau should evaluate whether it actually should use its proposed rule on Section 1033 of the Dodd-Frank Act to amplify personal financial data rights in the U.S., says Brian Fritzsche at the Consumer Bankers Association.

  • How Cos. Can Protect IP In Light Of FTC Noncompete Rule

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    While several groups are challenging the Federal Trade Commission’s recently approved rule banning noncompetition agreements, employers should begin planning other ways to protect their valuable trade secrets, confidential information and other intellectual property, says Thomas Duston at Marshall Gerstein.

  • FDIC Bank Disclosure Rules Raise Important Questions

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    The Federal Deposit Insurance Corp.'s new rules mandating disclosures for nonbanks offering deposit products leave traditional financial institutions in a no-man's land between fintech-oriented requirements and the reality of personal service demanded by customers, say Paul Clark and Casey Jennings at Seward & Kissel.

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