Compliance

  • August 12, 2024

    Texas Wants Debt Relief Review In Wake Of 8th Circ. Ruling

    Texas' solicitor general on Saturday pressed the U.S. Supreme Court to shut down the Biden administration's student debt relief plan, arguing that a recent Eighth Circuit decision granting an injunction against the plan in a similar case "underscores" why the high court should grant its petition for certiorari.

  • August 12, 2024

    Chase Bank Sued Over Alleged Ties To $119M Ponzi Scheme

    Chase Bank "actively accommodated" a purported Ponzi scheme worth more than a hundred million dollars by real estate developer SiliconSage Builders LLC, according to a court-appointed receiver who alleged in a new suit that the bank "went well beyond providing ordinary banking services" to the developer.

  • August 12, 2024

    Nasdaq Isn't Immune From Racial Bias Claims, Investor Says

    The Nasdaq Stock Market isn't immune from racial discrimination claims because such claims are "simply too different" from the claims it actually is protected from as a self-regulatory organization, an investor in a minority-led special purpose acquisition company has argued.

  • August 12, 2024

    PE Firms Aim To Escape RICO Suit Over Inadequate Claims

    Investment firms Advantage Capital Holdings and 777 Partners separately have asked a federal judge in New York to toss a Racketeer Influenced and Corrupt Organizations suit whose allegations include fraud, saying the plaintiff failed to sufficiently plead its claims.

  • August 12, 2024

    Adviser To Pay SEC $6M Over Undisclosed Conflicts

    The U.S. Securities and Exchange Commission announced Monday that investment advisory firm Cadaret Grant & Co. Inc. will pay more than $6 million to settle claims that it failed to make sufficient disclosures to clients regarding its revenue-sharing agreements and conflicts of interests associated with its financial recommendations.

  • August 12, 2024

    SEC Fines OTC Link For Suspicious Activity Reports Failures

    Broker-dealer OTC Link LLC on Monday agreed to pay nearly $1.2 million to settle U.S. Securities and Exchange Commission claims that the New York-based alternative trading system failed to monitor financial transactions for potential red flags over a three-year period.

  • August 12, 2024

    WWE Accuser Says Doc's Lawsuit Threat Meant To Silence Her

    A celebrity doctor with alleged ties to World Wrestling Entertainment Inc. and ex-CEO Vince McMahon should be sanctioned for filing a "vexatious" presuit discovery request in an effort to intimidate the woman who claimed the company and former executives sexually abused and trafficked her, she argued in a Monday motion.

  • August 12, 2024

    FTC Seeks To Undo Trimming Of Walmart Money Transfer Suit

    The Federal Trade Commission has urged an Illinois federal judge to walk back a previous decision that threw out much of its suit accusing Walmart of facilitating fraud through its money transfer services, arguing its now-dismissed claims about the retail giant were held to an overly exacting standard.

  • August 12, 2024

    FCC Looks To Require Better Cable, Phone Customer Service

    The Federal Communications Commission may soon seek to impose new customer services rules on phone, cable and broadband providers, including making it easier for subscribers to cancel their accounts.

  • August 12, 2024

    DOJ Says Live Nation NY Suit 'Far Beyond' DC Merger Deal

    The U.S. Department of Justice has urged a New York federal judge not to transfer its antitrust suit against Live Nation, arguing its allegations go well beyond the 2010 deal clearing the purchase of Ticketmaster, a deal Live Nation says warrants sending the case to Washington, D.C.

  • August 12, 2024

    Judge Won't DQ Asst. US Atty In Standard Chartered FCA Case

    A New York federal judge on Monday declined to disqualify an assistant United States attorney from a long-dismissed False Claims Act suit against Standard Chartered Bank, calling the whistleblower's arguments for disqualification meritless "to the point where they verge on vexatious and frivolous."

  • August 12, 2024

    Intelsat Dinged $160K For Sending Satellite To Wrong Area

    Intelsat has agreed to pay the $160,000 penalty associated with deploying a satellite out into a region of space outside what the satellite network provider's authorization from the Federal Communications Commission permitted.

  • August 12, 2024

    States Want Teva Generic Price Fixing Case Tried 1st

    A coalition of state attorneys general suing a slew of generic drugmakers are asking for a Connecticut federal court to proceed with one of the two cases before the other, saying the outcome in that case will have a "significant impact" on settlement talks with other pharmaceutical company plaintiffs.

  • August 12, 2024

    The Biggest Telecom Developments Of 2024: Midyear Report

    The first half of 2024 saw sweeping change in the telecom sphere as the Federal Communications Commission's Democratic majority pushed through controversial net neutrality rules and confronted challenges on artificial intelligence, national security and more, but also faces the prospect of new headwinds as the nation's top court pared back powers of federal agencies.

  • August 12, 2024

    Norfolk Southern Says Cuts To Investors' Suit Aren't Enough

    Norfolk Southern Corp. told a New York federal court on Friday that a magistrate judge's recommendations to trim an investor proposed class action over losses stemming from the 2023 East Palestine, Ohio, derailment didn't go far enough, and urged the court to dismiss the entire complaint.

  • August 12, 2024

    SEC, SolarWinds In Settlement Talks After Cyber Suit Trimmed

    Software company SolarWinds Corp. is in talks to settle a U.S. Securities and Exchange Commission cybersecurity lawsuit after a Manhattan federal judge dismissed the majority of claims over a 2020 data breach, the parties said Monday.

  • August 12, 2024

    NC Court Won't Stop 'Ultimate Relief' In Mogul's $524M Case

    The North Carolina Court of Appeals refused on Monday to issue an immediate halt to a court-ordered receiver being appointed to manage the assets of convicted insurance mogul Greg Lindberg, saying it would consider blocking the appointment after further court proceedings.

  • August 12, 2024

    Lending Co. Best Egg Can Arbitrate Interest Rate Dispute

    Online lender Best Egg can force arbitration of a proposed class action claiming it charged borrowers unlawfully high interest rates, with a Pennsylvania federal judge ruling an online checkbox is enough to indicate borrowers' consent to arbitrate.

  • August 12, 2024

    Investors Sue Nuclear Co. Over 'Laughable' Regulatory Claims

    Nano Nuclear Energy Inc. misled investors about its progress towards regulatory approval and commercialization of its energy products and that its higher-ups are independent contractors working as executives of other companies, according to a proposed class action filed in New York federal court.

  • August 12, 2024

    TikTok Hit With Another Children's Privacy Breach Suit

    A group of parents has filed a proposed class action against TikTok and its parent company in California federal court alleging invasion of privacy and unfair business practices targeting millions of children under age 13 across the United States.

  • August 12, 2024

    UK Competition Watchdog Looking Into $35B Software Deal

    The U.K.'s competition regulator said Monday it is delving into whether Synopsys Inc.'s $35 billion acquisition of Ansys Inc. will hurt competition in the region.

  • August 12, 2024

    Nokia Resets Merger Review Clock For $2.3B Infinera Deal

    Nokia has agreed to give the U.S. Department of Justice more time to review its planned $2.3 billion purchase of Silicon Valley optical-transmission equipment maker Infinera for potential competition concerns.

  • August 12, 2024

    States Oppose Shkreli High Court Bid For $64M Disgorgement

    State enforcers are opposing a petition from ex-pharmaceutical executive Martin Shkreli asking the U.S. Supreme Court to review a disgorgement order requiring him to pay up to $64 million for an alleged scheme to increase the price of a life-saving drug by 4,000%

  • August 12, 2024

    Transparency Act Snowball Fears A 'Mirage,' Treasury Says

    The U.S. Department of the Treasury is seeking to quell fears that the Corporate Transparency Act's disclosure requirements could set the stage for more invasive government data collection in a brief asking a Michigan federal judge to uphold the law as constitutional.

  • August 12, 2024

    DC Circ. Revives Businessman's Suit Over Mueller Report

    A Georgian-American businessman discussed in special counsel Robert Mueller's report on Russian interference in the 2016 election can pursue claims that inaccuracies in the report harmed his reputation and business dealings, the D.C. Circuit said Friday.

Expert Analysis

  • Series

    NC Banking Brief: All The Notable Legal Updates In Q2

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    After federal banking agencies last quarter released a supplemental final rule updating the Community Reinvestment Act, North Carolina banks involved in community development should consider how the new rule might open up opportunities for investment and services that can benefit underserved areas, says Adam Goldblatt at Michael Best.

  • Series

    Boxing Makes Me A Better Lawyer

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    Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.

  • The Often Overlooked NY Foreclosure Notice Requirements

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    As multifamily real estate defaults mount, New York foreclosing parties should be aware of pitfalls and perils that can await the litigant who is not prepared to ensure adherence with tenant notice requirements under the Real Property Actions and Proceedings Law, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

  • Opinion

    Industry Self-Regulation Will Shine Post-Chevron

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    The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.

  • Justices' Bribery Ruling: A Corrupt Act Isn't Necessarily Illegal

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    In its Snyder v. U.S. decision last week, the U.S. Supreme Court held that a bribery law does not criminalize gratuities, continuing a trend of narrowing federal anti-corruption laws and scrutinizing public corruption prosecutions that go beyond obvious quid pro quo schemes, say Carrie Cohen and Christine Wong at MoFo.

  • 3 Ways Agencies Will Keep Making Law After Chevron

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    The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.

  • Roundup

    After Chevron

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    In the month since the U.S. Supreme Court overturned the Chevron deference standard, this Expert Analysis series has featured attorneys discussing the potential impact across 26 different rulemaking and litigation areas.

  • Navigating Scrutiny Of Friendly Professional Corps. In Calif.

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    In light of ongoing scrutiny and challenges to private equity participation in the California healthcare marketplace, particularly surrounding the use of the friendly professional corporation model, management services organizations should consider implementing four best practices, say attorneys at Holland & Knight.

  • Takeaways From New HHS Substance Use Disorder Info Rules

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    A new U.S. Department of Health and Human Services rule continues the agency's efforts to harmonize complex rules surrounding confidentiality provisions for substance use disorder patient records, though healthcare providers will need to remain mindful of different potentially applicable requirements and changes that their compliance structures may require, say attorneys at Ropes & Gray.

  • Opinion

    Reform NEPA To Speed Mining Permits, Clean Energy Shift

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    It is essential to balance responsible regulatory oversight with permit approvals for mining projects that are needed for the transition to renewable energy — and with the National Environmental Policy Act being one of the leading causes of permit delays, reform is urgently needed, say Ana Maria Gutierrez and Michael Miller at Womble Bond.

  • Opinion

    Atty Well-Being Efforts Ignore Root Causes Of The Problem

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    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • How Generative AI May Aid Merger Clearance Process

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    Generative artificial intelligence capable of analyzing and searching large datasets stands to revolutionize the merger clearance process, including by significantly reducing the time and effort required to respond to Hart-Scott-Rodino second requests, say Kenneth Koch and Brian Blush at BDO USA.

  • Proposed Customer ID Rule Could Cost Investment Advisers

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    A rule recently proposed by FinCEN and the U.S. Securities and Exchange Commission to make financial advisers collect more customer information parallels an anti-money laundering and counterterrorism rule proposed this spring, but firms may face new compliance costs when implementing these screening programs, say attorneys at Lowenstein Sandler.

  • Antitrust In Retail: The Meaning Of 'Accessible Luxury'

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    In order for the Federal Trade Commission to block a deal that would put six "accessible luxury" brands, including Coach and Michael Kors, under one roof, the agency will need to prove that this category is distinct from the true luxury or mass-market categories, says David Kully at Holland & Knight.

  • What Passage Of House Crypto Bill Could Mean For Industry

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    While the prospects of the Financial Innovation and Technology for the 21st Century Act, which recently passed the House in a bipartisan fashion, becoming law remain murky, the manner of its passage may give crypto markets a real cause for hope, say Neel Maitra and Dale Beggs at Dechert.

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