Compliance

  • July 30, 2024

    Low-Power TV Stations Seek More Latitude From FCC

    Low-power television stations believe it's time for the Federal Communications Commission to allow them to start operating at higher levels of power as long as they remain in their service contours.

  • July 30, 2024

    Calif. Broker-Dealer To Pay FINRA $1.5M For Excessive Trades

    Broker-dealer Western International Securities Inc. has agreed to pay more than $1.5 million to settle allegations from the Financial Industry Regulatory Authority that the firm failed to properly monitor potentially excessive trading in about 100 accounts, and it was hit with a separate cease-and-desist order from the U.S. Securities and Exchange Commission Tuesday over Regulation Best Interest violations.

  • July 30, 2024

    Feds, SEC Say Creator Of Crypto Co. BitClout Misled Investors

    Federal prosecutors and the U.S. Securities and Exchange Commission announced parallel actions Tuesday against the founder of crypto project BitClout for allegedly duping investors and spending millions of proceeds for his own benefit.

  • July 30, 2024

    DC Circ. Wants Chevron Ruling Addressed In GHG Case

    The D.C. Circuit asked challengers of the U.S. Environmental Protection Agency's tighter greenhouse gas emissions standards for vehicles to discuss how the litigation is affected by recent court decisions, including the U.S. Supreme Court's blockbuster ruling that undid what is known as Chevron deference.

  • July 30, 2024

    SF Fed Tells 9th Circ. Banks Not Entitled To Master Accounts

    The San Francisco Federal Reserve Bank told the Ninth Circuit that it was not obligated to give a master account to an Idaho trade finance fintech, arguing federal law does not make these payment system gateways available to everyone regardless of risk.

  • July 30, 2024

    SEC Asks To Amend Token Claims In Binance Complaint

    The U.S. Securities and Exchange Commission told a D.C. federal court that it plans on amending its claims concerning third-party tokens that traded on crypto exchange Binance's platform, according to a Tuesday status update in the enforcement suit.

  • July 30, 2024

    AI Dominance In Startup Funding Has Small Biz Concerned

    Except for funding for artificial-intelligence startups, early-stage companies are struggling to raise capital amid higher interest rates and lean markets for initial public offerings and mergers and acquisitions, members of a small business-focused panel advising the U.S. Securities and Exchange Commission said Tuesday.

  • July 30, 2024

    Psychedelics And The Law: A Midyear Review

    A groundbreaking effort to secure federal approval for a psychedelic medication hit an unexpected snag. Religious groups asserting the right to access controlled substances had mixed success in federal court. Physicians seeking to administer psilocybin to terminally ill patients will finally have their day in court. Here are the major developments in psychedelics law from the first half of 2024.

  • July 30, 2024

    Former Prosecutor 'Coming Back Home' To NJ Boutique

    After prosecuting federal healthcare crimes in New Jersey, a former assistant U.S. attorney has returned to boutique firm Calcagni & Kanefsky LLP to guide clients as part of the firm's white collar criminal and regulatory defense and investigations practice with a focus on healthcare litigation and licensing, the firm announced Tuesday.

  • July 30, 2024

    Pot Cos. Can't Push RICO Claims Against Calif. City

    A California federal judge has thrown out racketeering claims by six cannabis companies that accuse the city of Cudahy of illegally assessing fees, saying that because Congress listed cultivation and sale of cannabis under the definition of racketeering, they can't recover damages.

  • July 30, 2024

    Vista Delays Vote On CSG Deal To Review Alternative Paths

    Vista Outdoor Inc. on Tuesday delayed its shareholder vote on the sale of its sporting products division, The Kinetic Group, to Czech defense company Czechoslovak Group AS to begin a review of strategic alternatives, which includes evaluating a competing bid from Dallas-based MNC Capital Partners LP.

  • July 30, 2024

    Houston Energy CEO Ran $21M Stock Scheme, SEC Says

    The U.S. Securities and Exchange Commission on Monday sued the head of a Houston energy company in Texas federal court, alleging he raised more than $21 million from over 300 investors nationwide through a fraudulent and unregistered offering of preferred stock in his fuel-blending company.

  • July 30, 2024

    Fla.'s Workplace DEI Training Rules Get Permanently Blocked

    A Florida federal judge made permanent a ban on a state law provision that prevents employers from promoting various sex- and race-based concepts in diversity training sessions after the state said it wouldn't challenge an Eleventh Circuit ruling upholding a preliminary injunction on the measure.

  • July 30, 2024

    Katten Adds Mayer Brown Practice Group Co-Chair In Chicago

    Katten Muchin Rosenman LLP has added to its financial markets litigation and enforcement practice group an attorney who formerly co-chaired a similar practice at Mayer Brown LLP and also has previous in-house experience.

  • July 30, 2024

    FTC, Career Step Pitch $43.5M Deal For Alleged Bogus Claims

    Career Step LLC, a for-profit online career training company, has struck a $43.5 million proposed settlement to resolve Federal Trade Commission claims it targeted servicemembers and their spouses with deceptive advertising about its programs and the successes of its students.

  • July 30, 2024

    Texas, Meta Reach Historic $1.4B Deal In Biometric Data Suit

    The state of Texas has reached a historic $1.4 billion settlement with Meta Platforms Inc. in a lawsuit accusing the social media giant of illegally collecting Facebook users' biometric data through its now-discontinued facial recognition feature, attorneys for the state announced Tuesday.

  • July 29, 2024

    5th Circ. Pauses DOT's New 'Junk Fees' Rule Amid Review

    The Fifth Circuit on Monday agreed to temporarily block a U.S. Department of Transportation rule requiring airlines to clearly disclose add-on fees upfront while the appellate court reviews the rule, which has been challenged by major airlines and airline associations.

  • July 29, 2024

    Live Nation Judge Tightens In-House Counsel's Access To Docs

    A New York federal judge imposed new restrictions Monday on Live Nation in-house counsel's access to documents and testimony from witnesses from its rivals in the U.S. Department of Justice's antitrust lawsuit, tightening a days-old two-tiered system after hearing concerns from those competitors.

  • July 29, 2024

    11th Circ. Affirms Ga. Prison Officer Immunity For Strip Search

    An Eleventh Circuit panel said that Georgia prison officers violated a woman's constitutional rights when they subjected her to a strip search and manual body cavity search during a visit to see her incarcerated husband, but precedent blocks it from overturning a ruling holding the officers were entitled to qualified immunity.

  • July 29, 2024

    Virtu Pushes For SEC Crackdown On 'Penny Stock' Listings

    Virtu Financial Inc. is pressing the U.S. Securities and Exchange Commission to force Nasdaq and other exchanges to crack down on so-called penny stocks, petitioning the agency to initiate rulemaking that would stop companies struggling to stay above $1 per share from continuing to trade on the exchanges.

  • July 29, 2024

    Chemical Groups Say Chevron Sinks EPA Ethylene Oxide Rule

    A chemical company and two chemical associations are telling the D.C. Circuit that a recent U.S. Supreme Court decision undermines the federal government's risk value for ethylene oxide, which they are challenging as being too high.

  • July 29, 2024

    CFPB Cites Thomas In New Bid To Transfer Late Fee Rule Suit

    The Consumer Financial Protection Bureau on Monday took another whack at getting an industry-backed legal challenge to its $8 credit card late fee rule transferred from Texas federal court to Washington, D.C., this time drawing on U.S. Supreme Court Justice Clarence Thomas for a little rhetorical help.

  • July 29, 2024

    Split 11th Circ. Won't Revive Class Action Over USCIS Denials

    A split Eleventh Circuit panel on Monday backed the dismissal of claims from five immigrants given temporary protected status but later rejected for green cards, saying the court doesn't have jurisdiction to review U.S. Citizenship and Immigration Services matters due to a precedential 2021 U.S. Supreme Court decision.

  • July 29, 2024

    8th Circ. Urged To Ax FDIC's Multiple NSF Fee Guidance

    Minnesota state bankers have urged the Eighth Circuit to uphold their challenge to Federal Deposit Insurance Corp. guidance conscribing the use of non-sufficient funds fees, arguing a Minnesota federal judge was wrong to reject their case as premature.

  • July 29, 2024

    Wells Fargo Can't Escape Investors' Sham Diverse Hiring Suit

    A California federal judge refused to throw out a proposed securities class action against Wells Fargo alleging it conducted sham interviews to meet diversity targets that triggered a stock drop when the truth came to light, finding Monday that the investors had plausibly alleged the bank's ill-will.

Expert Analysis

  • How Contractors Can Prep For DOD Cybersecurity Rule

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    The proverbial clock is ticking for defense contractors and subcontractors to strengthen their compliance posture in preparation for the rollout of the highly anticipated Cybersecurity Maturity Model Certification program, so those affected should analyze their existing security standards and take proactive steps to fill in any significant gaps, say Beth Waller and Patrick Austin at Woods Rogers.

  • NYSE Delisting May Be The Cost Of FCPA Compliance

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    ABB’s recent decision to delist its U.S. depository receipts from the New York Stock Exchange, coupled with having settled three Foreign Corrupt Practices Act enforcement actions, begs the question of whether the cost of FCPA compliance should factor into a company's decision to remain listed in the U.S., says John Joy at FTI Law.

  • Opinion

    The FTC Needs To Challenge The Novo-Catalent Deal

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    Novo's acquisition of Catalent threatens to substantially lessen competition in the manufacturing and marketing of GLP-1 diabetes and obesity drugs, and the Federal Trade Commission should challenge it under a vertical theory of harm, as it aligns with last year's merger guidelines and the Fifth Circuit decision in Illumina, says attorney David Balto.

  • CFTC Action Highlights Necessity Of Whistleblower Carveouts

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    The U.S. Commodity Futures Trading Commission's novel settlement with a trading firm over allegations of manipulating the market and failing to create contract carveouts for employees to freely communicate with investigators serves as a beacon for further enforcement activity from the CFTC and other regulators, say attorneys at Davis Wright.

  • 5 Tips For Solar Cos. Navigating Big Shifts In US Trade Policy

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    Renewable energy developers can best mitigate new compliance risks from the Office of the U.S. Trade Representative’s increased tariffs on imported solar cells, and simultaneously capitalize on Treasury Department incentives for domestic solar manufacturers, by following five best practices in the changing solar trade landscape, say attorneys at Morgan Lewis.

  • Md. Deal Highlights Consumer Finance Program Regulations

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    Maryland regulators’ recent settlement with the Bank of Missouri and its consumer lending partners, Atlanticus and Fortiva, offers a reminder that it is important to properly structure such partnerships and conduct sufficient due diligence on state licensing requirements, says Tom Witherspoon at Stinson.

  • Series

    Being A Luthier Makes Me A Better Lawyer

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    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Defending Against Aggressive DOL Child Labor Enforcement

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    The U.S. Department of Labor's recent unsuccessful injunction against an Alabama poultry facility highlights both the DOL's continued focus on child labor violations and the guardrails and defenses that employers can raise, say attorneys at Littler.

  • Half-Truths Vs. Omissions: Slicing Justices' Macquarie Cake

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    The U.S. Supreme Court's recent ruling in Macquarie v. Moab provides a road map for determining whether corporate reports that omit information should be considered misleading — and the court baked it into a dessert analogy that is key to understanding the guidelines, say Daniel Levy and Pavithra Kumar at Advanced Analytical Consulting Group.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • 3 Areas Of Enforcement Risk Facing The EV Industry

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    Companies in the EV manufacturing ecosystem are experiencing a boom in business, but with this boom comes increased regulatory and enforcement risks, from the corruption issues that have historically pervaded the extractive sector to newer risks posed by artificial intelligence, say attorneys at MoFo.

  • Nat'l Security Considerations For Telecom Products Counsel

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    An increase in federal national security measures in the telecommunications space, particularly from the Federal Communications Commission, means that products counsel need to broaden their considerations as they advise on new products and services, says Laura Stefani at Venable.

  • Preparing For Increased Scrutiny Of Tech Supply Chains

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    The U.S. Department of Commerce's recent action prohibiting sales of a Russia-based technology company's products in the U.S. is the first determination under the information technology supply chain rule, and signals plans to increase enforcement of protections that target companies in designated foreign adversary jurisdictions, say attorneys at Debevoise.

  • Chevron's End Puts Target On CFPB's Aggressive BNPL Rule

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    A recent interpretative rule by the Consumer Financial Protection Bureau, subjecting buy-now, pay-later loans to the same regulations as credit cards, is unlikely to survive post-Chevron challenges of the rule's partisan and shaky logic, say Scott Pearson and Bryan Schneider at Manatt.

  • Boeing Plea Deal Is A Mixed Bag, Providing Lessons For Cos.

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    The plea deal for conspiracy to defraud regulators that Boeing has tentatively agreed to will, on the one hand, probably help the company avoid further reputational damage, but also demonstrates to companies that deferred prosecution agreements have real teeth, and that noncompliance with DPA terms can be costly, says Edmund Vickers at Red Lion Chambers.

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