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Compliance
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March 24, 2025
SEC, FINRA Enforcement Heads Say Crypto Still A Focus
Heads of enforcement at the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority indicated Monday the agencies are keeping their eyes on cryptocurrency, even as the former has backed off of various cases and investigations involving crypto.
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March 24, 2025
Judges Question T-Mobile Over Skipping Jury Trial
Judges from the D.C. Circuit on Monday questioned why T-Mobile and Sprint didn't exercise their right to challenge the Federal Communications Commission's $92 million combined fine for selling subscriber locations in a jury trial, suggesting that option may have been more fruitful than paying the fine and going to appellate court.
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March 24, 2025
Lawyers Slam Trump Memo On 'Vexatious' Attys
BigLaw attorneys, immigration lawyers and legal advocacy organizations have been quick to blast President Donald Trump for what some of them call an "inexcusable and despicable" memo that is meant to intimidate attorneys out of challenging the administration.
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March 24, 2025
Trump Asks High Court To Halt Fed. Workers' Reinstatement
The Trump administration asked the U.S. Supreme Court on Monday to pause a California federal court order reinstating tens of thousands of probationary federal workers who were fired from six agencies, arguing the band of nonprofit groups that obtained the order have no standing to challenge the firings.
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March 24, 2025
FinCEN Exempts US Businesses From Disclosure Rules
The U.S. Department of the Treasury's financial crimes unit issued interim final rules that exempt domestic businesses from contested reporting regulations, which the department had previously signaled it would narrow to include only foreign companies registered stateside.
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March 24, 2025
Justices Turn Away 2 NLRB Loper Bright Review Cases
The U.S. Supreme Court won't disturb rulings by the Ninth and Sixth circuits that upheld losses for a pair of employers before the National Labor Relations Board, rejecting two petitions for review Monday that invoked last year's Loper Bright decision.
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March 24, 2025
Gibson Dunn Adds Former Federal Prosecutor In SF
Gibson Dunn & Crutcher LLP has brought on the former chief of the corporate and securities fraud section at the U.S. Attorney's Office for the Northern District of California as a partner in San Francisco, the firm said Monday.
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March 24, 2025
Justices Close Door On Kids' Climate Case
The U.S. Supreme Court on Monday declined to revive a lawsuit from youths alleging that current federal energy policies harm their future by exacerbating climate change.
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March 24, 2025
Justices Won't Hear Ex-Rabobank Exec's OCC Appeal
The U.S. Supreme Court on Monday denied an appeal to a former Rabobank compliance official who has been fighting to expunge a federal banking regulator's dismissed enforcement action against her, turning down her case after the Ninth Circuit rejected it.
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March 22, 2025
Up Next At High Court: Non-Delegation & Clean Air Fights
The U.S. Supreme Court will return to the bench Monday to hear arguments in a dispute that could revive a long-dormant separation of powers principle and trigger a regulatory power shift.
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March 21, 2025
Trump Tells AG To Seek Sanctions On 'Vexatious' Attys
President Donald Trump on Friday night directed the U.S. attorney general to seek sanctions against attorneys and firms who lodge "frivolous, unreasonable, and vexatious" lawsuits against the federal government, focusing on immigration and BigLaw attorneys he claims "coach clients to conceal their past or lie" when seeking asylum.
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March 21, 2025
4th Circ. Won't Pause Order To Reinstate Federal Workers
The Fourth Circuit on Friday refused to pause a Maryland federal judge's restraining order requiring the reinstatement of thousands of probationary workers who were fired from 18 federal agencies.
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March 21, 2025
Barclays Beats Investor Suits Over Unregistered Securities
A New York federal judge tossed Friday a pair of proposed securities class actions alleging Barclays misled investors about its internal controls and its unregistered securities sales, which eventually triggered so-called short squeezes, finding that the statements aren't actionable and the investors haven't sufficiently pled scienter, among other pleading failures.
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March 21, 2025
Paul Weiss Stuns Legal Industry With Trump DEI Deal
Paul Weiss Rifkind Wharton & Garrison LLP's decision to strike a deal with the Trump administration to defuse an executive order targeting the firm has drawn criticism across the legal industry and highlights the challenges preventing BigLaw firms from taking collective action against the White House.
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March 21, 2025
NJ AG Says Landlord Discriminated Against Low-Income Renters
The New Jersey Division on Civil Rights has found probable cause that the owner of a Garden State apartment complex and its leasing agent allegedly discriminated against poor tenants through illegal minimum-income requirements, Attorney General Matthew J. Platkin announced Friday.
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March 21, 2025
NY AG Notches Another Data Security Deal With Auto Insurer
Root Insurance Co. will pay $975,000 to resolve the New York attorney general's claims that the company failed to protect driver's license numbers and other personal information swept up in a hacking campaign targeting online rate quote tools, marking the fourth settlement that the regulator has reached with auto insurers over alleged data security failings.
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March 21, 2025
SEC Crypto Roundtable Puts 'Howey' To The Test
The U.S. Securities and Exchange Commission brought a dozen cryptocurrency legal experts together on Friday to wrestle with how to define security status for digital assets, and their in-depth discussion left the regulator with more questions or suggestions than agreed-upon definitions.
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March 21, 2025
Real Estate Recap: GSA Leases, Artemis, C-PACE
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including insight from Holland & Knight attorneys on General Services Administration lease terminations, Paul Hastings dealmakers on the Artemis takeover, and how attorneys see increasing use of commercial property-assessed clean energy financing.
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March 21, 2025
Employment Authority: EEOC's DEI Info Requests Validity
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with how strong the U.S. Equal Employment Opportunity Commission's requests to 20 major law firms seeking their information about their diversity, equity and inclusion programs are, how the U.S. Department of Labor wage and hour enforcement could be affected by the Department of Government Efficiency's proposed termination of the department office leases and how re-upping a challenge to the National Labor Relations Board's 2020 joint employer rule could force a change in the regulation.
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March 21, 2025
Trump Administration Reveals Details On WOTUS Intentions
The Trump administration on Friday revealed that it plans to prioritize clarifying what types of water bodies are covered by the waters of the U.S. Clean Water Act rule during its upcoming review of the Biden-era regulations.
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March 21, 2025
Texas Regulator Says Scammers Recruited Game Developers
The Texas State Securities Board entered an emergency cease-and-desist order to stop offers of an allegedly fraudulent blockchain token called Apertum, saying its creators successfully recruited developers behind "Grand Theft Auto V" to launch a new game requiring the purchase of the token.
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March 21, 2025
Buyers' Gripe Is With Timber Sector, Not Charmin, P&G Says
A false advertising lawsuit accusing Procter & Gamble of overhyping the forest-friendly bona fides of Charmin toilet paper should be dismissed, the company told a Washington federal judge, arguing that the buyers' suit is misdirected at P&G when their actual disappointment is with the "forestry industry."
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March 21, 2025
Meta Defends Need For Current Data In FTC Case
Meta Platforms Inc. told a D.C. federal court the company should be able to use the most recent data it has during next month's trial in the Federal Trade Commission's case accusing the Facebook parent company of monopolizing personal social networking.
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March 21, 2025
NC Top Court Revives Constitutional Claim In Forced Vax Suit
The North Carolina Supreme Court Friday partially revived a family's lawsuit alleging a 14-year-old was given a COVID-19 vaccine without his parents' consent, saying a federal law that shields certain activity aimed at resolving the spread of disease during a public health emergency covers tort injuries, not state constitutional violations.
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March 21, 2025
SEC Guidance Moves Needle In Favor Of Private Fundraising
The U.S. Securities and Exchange Commission's recent guidance on how accredited investors can self-certify when participating in broadly publicized private placements simplifies legal compliance for issuers, according to attorneys, though the jury is still out on whether market participants will embrace the new framework.
Expert Analysis
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New HSR Rules Augur A Deeper Antitrust Review By Agencies
After some initial uncertainty, the new Hart-Scott-Rodino Act rules did go into effect last month, and though their increased information requirements create greater initial burdens for merging parties, the rules should lead to greater certainty and predictability through a more efficient and effective review process, says Craig Malam at Edgeworth Economics.
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How EEOC Enforcement Priorities May Change Under Trump
The U.S. Equal Employment Opportunity Commission has already been rocked by the Trump administration's dramatic changes in personnel and policy, which calls into question how the agency may shift its direction from the priorities set forth in its five-year strategic enforcement plan in 2023, say attorneys at Seyfarth.
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New Fla. Financial Abuse Law May See Limited Buy-In
Florida's newly effective financial protection law comes with compliance burdens and uncertainties that could discourage financial institutions from participating, even though the law aims to shield them from liability for delaying transactions when they suspect exploitation of elderly and vulnerable account holders, say attorneys at Shutts & Bowen.
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Why Acquirers Should Reevaluate Federal Contract Risk
Long thought of as a stable investment, the scale with which the Trump administration is attempting to eliminate federal contracts is unprecedented, and acquirer considerations should include the size and scope of all active and pending government contracts of target companies, say attorneys at Winston & Strawn.
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Navigating The Uncertain Future Of The Superfund PFAS Rule
The D.C. Circuit's recent grant of a pause in litigation while the U.S. Environmental Protection Agency reviews the Biden-era designation of two per- and polyfluoroalkyl substances as "hazardous" under the Superfund law creates new uncertainty for companies — but more lawsuits are likely as long as the rule remains in effect, say attorneys at Alston & Bird.
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Opinion
SEC Defense Bar Should Pursue Sanctions Flexibility Now
The U.S. Securities and Exchange Commission defense bar has an opening under the new administration to propose flexible, tailored sanctions that can substantially remediate misconduct and prevent future wrongdoing instead of onerous penalties, which could set sanctions precedent for years to come, says Josh Hess at BCLP.
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What To Know About Insurance Coverage For Greenwashing
As the number of public and private lawsuits relating to greenwashing dramatically grows, risk managers of companies making environmental claims should look to several types of insurance for coverage in the event of a suit, say attorneys at Hunton.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from Practical Guidance
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
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Series
Playing Beach Volleyball Makes Me A Better Lawyer
My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.
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Considering The Future Of AI Regulation On Health Sector
As Texas looks to become the next state to pass a comprehensive law regulating artificial intelligence, the healthcare industry should consider how AI regulation will continue to evolve in the U.S. and how industry members can keep up with compliance considerations, say attorneys at Kirkland & Ellis.
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30 Years Later: How PSLRA Has Improved Securities Litigation
In the 30 years since the Private Securities Litigation Reform Act's passage, the statute has achieved its purpose of shifting securities class actions to investors most capable of monitoring the litigation, selecting competent counsel at competitive rates and maximizing recoveries for the investor classes they represent, say attorneys at Bernstein Litowitz.
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How Banks Can Prepare For NYDFS Overdraft Overhaul
The New York State Department of Financial Services' recent proposal to amend overdraft rules for financial institutions underscores states' potential to create consumer protection mechanisms in the absence of meaningful federal action, say attorneys at Steptoe.
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Terraform Case May Be Bellwether For Crypto Enforcement
The prosecution of crypto company Terraform Labs and its CEO, Do Kwon, offers a unique test of the line between lawful and unlawful conduct in digital transactions, and the Trump administration’s posture toward the case will provide clues about its cryptocurrency enforcement agenda in the years to come, say attorneys at Brooks Pierce.
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Contractor Liability When Directing Subcontractor Workforce
A recent Virginia Court of Appeals decision that rejected a subcontractor employee’s tortious interference claim should prompt prime contractors to consider how to mitigate liability risk associated with directing a subcontractor to remove its employee from a federal project, say attorneys at Venable.
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What's Next For Russia Sanctions After Task Force Disbanded
Attorney General Pam Bondi’s recent disbanding of Task Force KleptoCapture, which was initially aimed at seizing Russian oligarchs’ funds and assets, is unlikely to mean the end of Russia sanctions enforcement and other economic countermeasures, as the architecture for criminal enforcement remains in place, say attorneys at BakerHostetler.