Compliance

  • December 06, 2024

    CFTC Tells DC Circ. Election Bets Turned Kalshi Into 'Casino'

    The Commodity Futures Trading Commission has told the D.C. Circuit that trading platform KalshiEx LLC "promptly turned its futures exchange into an online casino" when courts gave it the green light to list election contracts, urging the appeals court to overturn a lower court decision that the contracts don't involve unlawful gaming.

  • December 06, 2024

    CFPB Sues Comerica Over Gov't Benefit Card Management

    The Consumer Financial Protection Bureau on Friday sued Comerica Bank in Texas federal court over its handling of Direct Express benefits cards, marking the first contested enforcement action that the agency has brought against a bank in more than four years.

  • December 06, 2024

    Axon Gets FCC Waiver On Contentious Surveillance Devices

    Body-camera maker Axon Enterprise Inc. will be allowed to market three new contentious surveillance devices after it was granted a waiver by the Federal Communication Commission of two sections of the agency's rules, according to an order issued by the commission.

  • December 06, 2024

    Ex-Conn. Utility Execs May Get Reprieve From 2nd Indictment

    Two former Connecticut utility company executives who are weeks away from beginning federal prison sentences entered pretrial diversion agreements with the government on Friday that would allow them to escape a second raft of charges alleging that they conspired to misuse public money.

  • December 06, 2024

    Colo. Children's Hospital Fined $548K For Phishing Attacks

    Children's Hospital Colorado was hit with a more than $548,000 fine over phishing and cyberattacks that violated patient privacy rules, according to the U.S. Department of Health and Human Services.

  • December 06, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    The Boeing Co. saw its much sought after plea agreement pulled away by a federal judge in Texas, and amid the grief and shock at the slaying of United Healthcare's CEO, legal experts discussed how general counsel can step up in a crisis. These are some of the stories in corporate legal news you may have missed in the past week.

  • December 06, 2024

    FDIC Asked Banks To 'Pause' Crypto Activity, Letters Show

    The Federal Deposit Insurance Corp. directed some financial institutions to pause cryptocurrency-related activity while the agency evaluated regulatory concerns with the services, according to letters made public Friday in response to a suit a research consultancy filed on behalf of the crypto exchange Coinbase Global Inc.

  • December 06, 2024

    Senate OKs Bill To Ease SEC Reporting Regs On Rural Telcos

    The Senate has unanimously passed a bipartisan bill to expand access to broadband in rural areas by reducing the "red tape" on smaller broadband providers.

  • December 06, 2024

    AI Hype Won't Wash With Canadian Securities Regulators

    The Canadian Securities Administration is warning market participants against hyping ties to artificial intelligence in order to drum up interest for investments — a practice called "AI washing" — as the agency invites public comment before crafting AI-focused regulations.

  • December 06, 2024

    Gov't Appeals Texas Judge's Block On Anti-Laundering Law

    The U.S. government has appealed a Texas federal judge's order that halted the rollout of new reporting requirements aimed at unmasking anonymous shell companies, setting the stage for the Fifth Circuit to weigh in on the nationwide preliminary injunction.

  • December 06, 2024

    1st Circ. Affirms Mass. Wind Energy Permits

    A three-judge First Circuit panel rejected a pair of fishing industry challenges to environmental permits for the massive — and now paused — Vineyard Wind project off the coast of Massachusetts.

  • December 06, 2024

    DC Circ. Won't Revisit Retroactive FARA Registration

    The D.C. Circuit rejected a bid asking the en banc court to reconsider a panel ruling that bars the federal government from suing to compel former foreign agents to retroactively register their onetime foreign influence.

  • December 06, 2024

    DC Circ. Upholds TikTok Sale-Or-Ban Law

    A D.C. Circuit panel on Friday upheld a federal law giving TikTok until January to cut ties with its Chinese parent company or face a ban in the U.S., ruling that the statute survives constitutional scrutiny.

  • December 05, 2024

    Trump Taps Musk Ally David Sacks As 'AI & Crypto Czar'

    President-elect Donald Trump announced Thursday that he has selected David O. Sacks, a tech investor who worked alongside Elon Musk and entrepreneur Peter Thiel in the early days of PayPal, to be the newly created "White House AI & Crypto Czar."

  • December 05, 2024

    Rocket Mortgage Sues HUD, Hits Back At DOJ Race Bias Suit

    Rocket Mortgage, the largest U.S. mortgage lender, has punched back against housing discrimination claims brought by the U.S. government, countersuing in Colorado federal court to challenge what it argues are "conflicting and irreconcilable" mandates at play.

  • December 05, 2024

    Frontier Pays $3.5M To End Calif. AG's Illegal Dumping Probe

    The California subsidiary of telecom company Frontier Communications will pay $3.5 million to end an investigation into the improper disposal of batteries, aerosol cans and other hazardous waste at warehouses and field service facilities dating back to 2008, the Golden State's attorney general announced Thursday.

  • December 05, 2024

    CFTC Flags AI Compliance Obligations In New Advisory

    The Commodity Futures Trading Commission on Thursday issued a staff advisory outlining its registrants' compliance obligations under the Commodity Exchange Act regarding the myriad of ways they may be using artificial intelligence, with the agency's chair painting the guidance as a first step ahead of potential policies.

  • December 05, 2024

    Apple To Appeal Epic's Atty-Client Privilege Challenge Win

    Apple and Epic Games told a California federal judge Thursday that they've agreed on a protocol for a special master to re-review 57,000 documents that Apple claims are attorney-client privileged in their antitrust fight, while Apple added that it plans to appeal his finding that its privilege assertions over a sample were overbroad.

  • December 05, 2024

    Freddie Mac Beats Suit Over Payoff Statement Fees, For Now

    A Washington federal judge has tentatively let Freddie Mac off the hook in borrowers' proposed class action alleging loan servicer Nationstar Mortgage illegally charged fees for payoff statements, ruling Thursday that Freddie Mac can't be liable for conduct it didn't authorize — even if it did own one loan at issue.

  • December 05, 2024

    SEC Says Binance's Platform Is 'Integral' To Securities Claims

    The U.S. Securities and Exchange Commission told a Washington, D.C., federal judge that crypto exchange Binance can't escape amended claims that it failed to register with the securities regulator because the platform is "integral" to crypto issuers' alleged promises to increase the value of their tokens.

  • December 05, 2024

    Gov't Efficiency Push Is A 'New Day,' House Speaker Says

    House Speaker Mike Johnson, R-La., spoke excitedly Thursday about the new government efficiency operation helmed by billionaire Elon Musk and former presidential candidate Vivek Ramaswamy and touted the budding bipartisan lineup of a congressional caucus that will work with it.

  • December 06, 2024

    FINRA Fines Firm $900K Over SPAC Underwriting Fee Issues

    The Financial Industry Regulatory Authority has fined New York-based LifeSci Capital LLC nearly $1 million over claims that it received and failed to disclose unfair and unreasonable fees for an initial public offering it underwrote.

  • December 05, 2024

    First Citizens Accused Of $3M High-Yield Bait-And-Switch

    First Citizens Bank & Trust Company faces claims from an agritourism nonprofit and its registered agent that they invested $3 million with the bank expecting a competitive rate of return before finding those funds were actually in products yielding a much lower interest rate.

  • December 05, 2024

    Ohio Court Affirms Nix Of Bid To Double $42M Property Value

    An effort to nearly double the $42 million taxable value of a property to its recent sale price was correctly dismissed, an Ohio state appeals court said, upholding a state law barring complaints based on the untimeliness of a sale.

  • December 05, 2024

    3rd Circ. Unsure Pa. Regulator Had Right To Deny Project

    Third Circuit judges appeared wary on Thursday of the Pennsylvania Public Utility Commission's argument that its take on the necessity of a transmission project trumps a federal agency's determination, at one point questioning how any such project could be completed if the court accepted its argument.

Expert Analysis

  • Lessons From EEOC Case Of Fla. Worker Fired After Stillbirth

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    A recent federal court settlement between a Florida resort and a fired line cook shows that the U.S. Equal Opportunity Employment Commission sees stillbirth as protected under the Pregnant Workers Fairness Act, also providing four other important lessons, says Gordon Berger at Pierson Ferdinand.

  • AI Monitoring And FCRA: Employer Compliance Essentials

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    As the Consumer Financial Protection Bureau and the Federal Trade Commission signal determination to treat AI-based workplace surveillance as a potential Fair Credit Reporting Act issue, employers must commit to educating HR and compliance staff on these quickly evolving regulatory expectations, say attorneys at Sheppard Mullin.

  • Series

    Circus Arts Make Me A Better Lawyer

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    Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.

  • How D&O Coverage Can Aid Against Increased AI Scrutiny

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    The recent increase in regulatory enforcement and securities class actions stemming from corporate use of artificial intelligence should prompt companies to ensure that their directors and officers liability insurance coverage is appropriately tailored to AI-related risks, say attorneys at Reed Smith.

  • Crypto Cos. Add New Play In Their Offense Against SEC

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    Consensys and Crypto.com have adopted a novel strategy of preempting U.S. Securities and Exchange Commission enforcement actions by moving to crypto-friendly Texas and filing declaratory lawsuits challenging the SEC's jurisdiction to regulate crypto-assets — an aggressive approach that may pay off, say attorneys at Herrick Feinstein.

  • Recent Listeria Outbreaks Hold Key Compliance Lessons

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    Listeria outbreaks in ready-to-eat foods from Boar's Head and other companies, and the U.S. Department of Agriculture and U.S. Food and Drug Administration responses to these outbreaks, should be closely evaluated from an overall compliance and risk management perspective by food manufacturers, retailers and industry investors, say attorneys at Kirkland.

  • FTC Focus: Zeroing In On Post-Election Labor Markets

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    The presidential election and the push-and-pull of the administrative state's reach are likely to affect the Federal Trade Commission's focus on labor markets, including the tenor of noncompete rule enforcement, say attorneys at Proskauer.

  • OpenAI's Patent Pledge Is Not All It Seems

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    A recent statement that OpenAI won't assert its own patents is more of an aspiration than an obligation, and should prompt practitioners to think deeply about the underlying legal mechanisms of patent and contract law when determining the effectiveness of similar nonassertion pledges, say attorneys at McDonnell Boehnen.

  • 3 Ways To Train Junior Lawyers In 30 Minutes Or Less

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    Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

  • How To Safely Leverage AI In The Digital Assets Industry

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    Digital asset businesses that use or plan to implement artificial intelligence should assess their risk management frameworks to ensure that AI-related business areas, including customer support and fraud detection, are in compliance with applicable laws and regulatory guidance from the last year, say attorneys at Winston & Strawn.

  • What Cos. Can Learn from Water Microplastics Class Actions

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    Class actions against companies whose bottled spring water allegedly contains microplastics, challenging claims such as "natural" and "100% spring water," seem to be drying up — but these cases serve as a good reminder to other businesses to review regulatory standards, and carefully vet plaintiff allegations at the outset, say attorneys at Keller and Heckman.

  • $3B TD Bank AML Settlement Is A Wake-Up Call For All Banks

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    TD Bank’s historic settlement over anti-money laundering violations, resulting in over $3 billion in penalties, reminds banks of all shapes and sizes why they need to take financial crime compliance seriously, and highlights three areas that may be especially vulnerable to enforcement, says Jack Harrington at Bradley Arant.

  • What Trump Presidency May Mean For Climate Reporting

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    While the Trump administration will likely take a hands-off approach to climate-related disclosures and rescind regulations promulgated under the Biden administration, state and international ESG laws mean the private sector may not reverse course on such disclosures, say attorneys at Seyfarth.

  • Opinion

    The Right Kind Of Deregulation In Commercial Airline Industry

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    Similar to the economic deregulation that occurred more than four decades ago during the Carter administration, the incoming Trump administration should restore the very limited federal regulatory role in the economics of the airline industry, says former U.S. transportation secretary James Burnley at Venable.

  • Medicare Overpayment Rules Are A Mixed Bag For Providers

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    The Centers for Medicare & Medicaid Services' updated rules for handling agency overpayments adopt a more reasonable definition of what it means to have "identified" an overpayment, which is a win for providers, but their new time frame for investigating related overpayments is unrealistic, says Susan Banks at Holland & Knight.

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