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Compliance
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February 21, 2025
Wall Street Groups Back Rescinding Biden Crypto Guidance
Wall Street's top lobbies are backing President Donald Trump's cryptocurrency agenda and have called for the recission of Biden-era federal banking policies and guidance that it says have "hindered" banks' ability to engage in the digital asset industry.
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February 21, 2025
CFPB Shutdown Means 'Irreparable Harm,' 23 State AGs Say
Nearly two dozen attorneys general on Friday filed an amicus brief backing the union that represents Consumer Financial Protection Bureau workers in their lawsuit over the agency's shutdown, arguing they will suffer "several forms of irreparable harm" without a preliminary injunction.
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February 21, 2025
Apple Can Claw Back Mistakenly Produced Docs In Epic Fight
A California federal magistrate judge said Friday that Apple can claw back two documents the tech giant said it accidentally produced during discovery for an antitrust suit brought by Epic Games, rejecting the game developer's assertion that Apple's bid was "opportunistic."
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February 21, 2025
GOP Leader Zeros In On Fintech And Enviro Rules For Repeal
An Internal Revenue Service rule targeting digital asset sales and U.S. Commodity Futures Trading Commission guidance on the trading of voluntary carbon credits are among the environmental and financial regulations that Republicans are prioritizing for repeal, according to House Majority Leader Steven Scalise.
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February 21, 2025
Calif. Lawmakers Unveil 'Polluters Pay' Superfund Legislation
A pair of California lawmakers on Friday introduced legislation that would require the biggest polluters to pitch in and put a portion of their profits toward climate-related disaster mitigation, a measure they said aims to relieve the burden on taxpayers in the wake of catastrophes such as wildfires.
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February 21, 2025
Payday Lender Says CFPB Uncertainty Should Pause Suit
ACE Cash Express has asked a Texas federal judge to pause a case launched by the Consumer Financial Protection Bureau accusing the payday lender of concealing free repayment plans from struggling borrowers, saying it is unclear how the agency will move forward with the action now that the Trump administration has effectively shut it down.
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February 21, 2025
FINRA Fines Merrill Lynch Over Early Sales Of IPO Shares
Merrill Lynch will pay a $275,000 fine to settle the Financial Industry Regulatory Authority claim that, for nearly three years, the firm accepted purchase orders for shares of newly issued stock prior to the opening of secondary market trading in those shares.
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February 21, 2025
Trump, NLRB Chairman Defend Wilcox's Removal As Lawful
President Donald Trump told a D.C. federal judge Friday that former National Labor Relations Board member Gwynne Wilcox should not be reinstated, laying out his arguments for why a 90-year-old U.S. Supreme Court opinion does not apply to board members.
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February 21, 2025
Eli Lilly Has Exclusivity Over Weight Loss Drug, FDA Says
The U.S. Food and Drug Administration asked a Texas federal court to reject a request for an injunction that would allow compounding pharmacies to produce a lucrative weight loss drug, saying the agency based its decision on sound facts and it was within its authority.
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February 21, 2025
Watchdog Says DOL Struggles To Enforce Mental Health Law
Workers with mental health conditions and substance use disorders are at higher risk of not receiving treatment or having to pay out of pocket for care that should be covered because of the U.S. Department of Labor's limited ability to enforce federal mental health parity laws, an agency watchdog said Friday.
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February 21, 2025
Mich. Pot Cos. Say Grand Rapids' Equity Fees Are Illegal
A group of cannabis companies is suing the city of Grand Rapids in Michigan state court, saying it is illegally charging them millions in fees through its social equity program.
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February 21, 2025
Judge Questions Trump Administration Fund Freeze Authority
A Rhode Island federal judge on Friday left in place a temporary restraining order blocking a funding freeze by President Donald Trump's administration until the judge can rule on a request by a coalition of states for a preliminary injunction.
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February 21, 2025
CFPB's $8 Late Fee Rule On Ropes As Banks Move In For Kill
The U.S. Chamber of Commerce and other trade groups have urged a Texas federal judge to strike down the Consumer Financial Protection Bureau's $8 credit card late fee rule once and for all, saying, among other things, that the CFPB is itself a "veritable issue-spotter of constitutional law violations."
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February 21, 2025
Va. Judge Won't Bar DOGE Access To Treasury, OPM Data
A Virginia federal judge on Friday rejected a data privacy watchdog's bid for a preliminary injunction blocking Elon Musk's Department of Government Efficiency from accessing data systems housed in the U.S. Department of the Treasury and the U.S. Office of Personnel Management.
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February 21, 2025
Justices Leave Fired Special Counsel In Office For Now
The U.S. Supreme Court on Friday declined to weigh in on the validity of a temporary court order reinstating a fired federal employment watchdog who claims President Donald Trump lacks the authority to remove him from office without cause, punting on the administration's first attempt to wipe out protections for top officials at independent agencies.
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February 21, 2025
Swizz Beatz Says Suit Over 1MDB Funds Is Time-Barred
Hip-hop artist Swizz Beatz has told a Manhattan federal judge that a suit claiming he received millions of dollars that were stolen in the 1Malaysia Development Berhad fraud scandal should be tossed since it was brought after the six-year statute of limitations.
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February 21, 2025
Solar Farm Says FERC Can't Justify Grid Upgrade Cost Order
Developers of a Texas solar farm told the D.C. Circuit that the Federal Energy Regulatory Commission acted unlawfully by allowing a transmission operator to assign them $311 million in grid upgrade costs to connect their solar project to the grid.
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February 21, 2025
Ga. Provider Bashes FCC Over Subsidy Verification Rules
A Georgia-based phone and internet provider is appealing a $429,000 recovery order from the Federal Communications Commission's Wireline Competition Bureau over the company's alleged failure to verify subscribers qualified for pandemic-era subsidies, arguing that it is being punished for using the eligibility verification system that the commission itself requires them to use.
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February 21, 2025
Nuke Plant Renewal Rules Ignore Climate Risks, DC Circ. Told
Anti-nuclear power groups told the D.C. Circuit that the U.S. Nuclear Regulatory Commission unlawfully ignored accident risks due to aging equipment and climate change when it crafted new nuclear power plant license renewal rules.
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February 21, 2025
Steel, Aluminum Tariffs May Throw Wrench Into Future Deals
President Donald Trump's targeted tariffs on steel and aluminum imports could assist in his goal of reshoring more production to the U.S., but the elimination of agreements he reached during his first term may undermine the ability to strike new trade agreements — while also spurring historic price hikes.
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February 21, 2025
WilmerHale Corporate Ace Joins DLA Piper In California
DLA Piper has added a former WilmerHale attorney to strengthen its corporate practice, including bolstering its service to clients in the life sciences and healthcare industries.
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February 21, 2025
GC Cheat Sheet: The Hottest Corporate News Of The Week
Experts say the new U.S. guidelines on enforcing the Foreign Corrupt Practices Act could open the door for American companies to pay business bribes overseas. And a new survey shows adoption of AI by lawyers has nearly doubled in the past year. These are some of the stories in corporate legal news you may have missed in the past week.
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February 21, 2025
1st Circ. Revives Clean Air Claims Over Idling Shuttle Buses
Excessive exhaust fumes and concerns about the negative health effects of pollution from idling buses are injuries in fact that can establish standing for members of an environmental advocacy group to sue over violations of the Clean Air Act, the First Circuit said on Thursday, reviving a 5-year-old lawsuit.
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February 21, 2025
Ex-Cognizant Execs Balk At Wording Of Trial Date Draft Order
Attorneys for two former executives of Cognizant Technology Solutions Corp. told a New Jersey federal judge on Friday that they object to the government's wording of a proposed order for proceeding with their Foreign Corrupt Practices Act trial on March 3.
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February 21, 2025
Coinbase Says SEC Will Drop Suit Amid Crypto Policy Shift
Coinbase said Friday the U.S. Securities and Exchange Commission has committed to dropping its enforcement action against the crypto exchange, a move that would see the regulator walk away from one of its flagship crypto suits amid a wider policy shift under the Trump administration.
Expert Analysis
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Trump's Energy Plans: Climate, Data Centers, LNG And More
With a host of executive orders addressing climate and emissions policies, expanded energy development, offshore and onshore projects, liquefied natural gas and more, the second Trump administration has already given energy companies much to consider, say attorneys at Gibson Dunn.
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AI Will Soon Transform The E-Discovery Industrial Complex
Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.
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Managing Transatlantic Antitrust Investigations And Litigation
As transatlantic competition regulators cooperate more closely and European antitrust investigations increasingly spark follow-up civil suits in the U.S., companies must understand how to simultaneously juggle high-stakes multigovernment investigations and manage the risks of expensive new claims across jurisdictions, say lawyers at Paul Weiss.
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What To Do When ICE Shows Up At The Hospital
In light of recent executive orders and changes to enforcement directives permitting U.S. Immigration and Customs Enforcement agents to enter sensitive locations like hospitals, healthcare providers should understand how to balance compliance with existing health laws and patient care obligations, say attorneys at Davis Wright.
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Cos. Must Prepare For Heightened Trade Enforcement Risks
Recent trade enforcement cases — including criminal prosecutions for tariff evasion — as well as statements from the Trump administration make it clear that companies must assess their risk profiles, review compliance programs and communication policies, and consider protocols for responding to subpoenas, say attorneys at Miller & Chevalier.
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Trump's Energy Plans: Funding, Permits And Nuclear Power
In the wake of President Donald Trump's flurry of first-day executive orders focusing on the energy sector, attorneys at Gibson Dunn analyze what this presidency will mean for energy-related grants and loans, changes to permitting processes and developments in nuclear power.
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When Innovation Overwhelms The Rule Of Law
In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.
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FTC Focus: Avoiding 'Gun Jumping' Violations
The Federal Trade Commission's recent record $5.6 million "gun jumping" enforcement action against XCL Resources, EP Energy and Verdun Oil sends a clear message about the seriousness of violations of the Hart-Scott-Rodino Act's premerger requirements, and highlights compliance tips such as avoiding premature integration of operations, say attorneys at Proskauer.
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What Compensation Committees Must Keep In Mind In 2025
New disclosure obligations, an evolving discussion on the analysis of executive perks and updated proxy adviser policies — on top of a new presidential administration — are all important things compensation committees must pay close attention to in 2025, say attorneys at Simpson Thacher.
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Likely Doomed CFPB Contract Rule Still Has Industry Pointers
While the Consumer Financial Protection Bureau's January proposal on consumer financial contract provisions is unlikely to be finalized under the new administration, its provisions are important for industry to recognize, particularly if state attorneys general decide to take up the enforcement mantle, say attorneys at Saul Ewing.
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Preparing For A Possible End To The Subminimum Wage
The U.S. Department of Labor's proposed rule to end the subminimum wage for employees with disabilities may significantly affect the community-based rehabilitation and training programs that employ these workers, so certified programs should be especially vigilant about compliance during this period of evaluation and scrutiny, say attorneys at Jackson Lewis.
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Losing A Motion To Dismiss Ruling Isn't Necessarily The End
A recent Delaware Court of Chancery ruling, that the Manti Group had not demonstrated any conflicts of interest favoring private equity fund operator The Carlyle Group, serves as an important reminder that a decision on a pleading motion is not the end of the story, say attorneys at Sidley.
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Anticipating Direction Of Cosmetics Regulation Under Trump
It is unclear how cosmetics regulation reform from the last few years will fare under President Donald Trump, but the new administration's emphasis on deregulation and Robert F. Kennedy Jr.'s views on product safety provide some insight, say attorneys at Crowell & Moring.
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Best Practices To Optimize Cybersecurity Insurance
As cyberthreats continue to evolve, the risks associated with third-party vendor breaches are an increasing concern, so businesses must not only reevaluate their internal cybersecurity insurance, but also take proactive steps to evaluate and manage the risks posed by their third-party relationships, say attorneys at Reed Smith.
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How Cos. Can Prepare Now For SEC E-Filing System Changes
The U.S. Securities and Exchange Commission's amendments to the Electronic Data Gathering, Analysis and Retrieval system are designed to improve access to and management of EDGAR accounts, and with the March 24 effective date fast approaching, and the transition requiring significant coordination, companies should begin planning now, say attorneys at Debevoise.