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Compliance
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November 05, 2024
Binance Says New SEC Complaint Suffers Same Old Flaws
Cryptocurrency exchange Binance told a Washington, D.C., federal judge the U.S. Securities and Exchange Commission can't continue to argue that secondary sales of digital assets are securities transactions in its enforcement suit against the trading platform after the regulator acquiesced that the tokens themselves aren't investment contracts.
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November 05, 2024
States Say EPA 'Wants To Drive The Car' In CWA Row
Idaho and a coalition of states are asking a North Dakota federal judge to strike down a U.S. Environmental Protection Agency rule requiring states to consider tribal treaty rights when they set their water quality standards, arguing the agency has no such power under the Clean Water Act.
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November 05, 2024
Meta Ruling Will Fuel Class Actions, Chamber Warns Justices
Business organizations are backing Meta's appeal of a Ninth Circuit ruling upholding damages class certification for a group of Meta advertisers claiming they were misled about Facebook's ad tools, with the industry outfits telling the U.S. Supreme Court that the Ninth Circuit is out of sync with other circuits on class questions.
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November 05, 2024
9th Circ. Rules Biden Couldn't Spike Federal Contractor Wage
The Federal Property and Administrative Services Act didn't authorize President Joe Biden to mandate a $15 blanket minimum wage for federal contractors, a split Ninth Circuit panel ruled Tuesday, reviving a challenge four states lodged against the government.
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November 05, 2024
EPA's Superfund 'Blank Check' Dooms PFAS Rule, Groups Say
The U.S. Environmental Protection Agency wrote itself a legal "blank check" to increase the number of chemicals subject to required cleanups under federal Superfund law, industry advocates told the D.C. Circuit.
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November 05, 2024
Meta Owed No Coverage For Social Media MDL, Hartford Says
Two Hartford units told a Delaware state court they should have no duty to defend Meta Platforms Inc., parent of Facebook and Instagram, against numerous lawsuits accusing the social media giant of deliberately designing its platforms to be addictive to adolescents and concealing its harmful effects on them.
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November 05, 2024
Top French Soccer League, CVC Snared In Corruption Probe
French financial law enforcement officials searched the offices of France's top professional soccer league and of private-equity investment partner CVC Capital Partners on Tuesday, Law360 confirmed, as part of an investigation of possible corruption in their collaboration on the league's media rights company.
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November 05, 2024
FERC Skimped On Pipeline Review, Environmental Groups Say
The Federal Energy Regulatory Commission wrongly limited its review of a methane gas pipeline that crosses the U.S.-Mexico border to a 1,000-foot border facility, ignoring the 157-mile U.S.-based pipeline segment that cuts across Western Texas, environmental groups told the D.C. Circuit.
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November 05, 2024
Texas Deploys Legal Team Ahead Of Possible Election Fights
The Texas Office of the Attorney General deployed what it called an "Election Day Rapid Response Legal Team" in several major counties to monitor election activity, preparing for potential legal battles arising the day of the election or in its immediate aftermath.
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November 05, 2024
Justices Probe HHS 'Dish' Payment Impact On Rural Hospitals
The U.S. Supreme Court on Tuesday grappled with whether a change to a formula used to calculate billions of dollars in payments every year to hospitals treating a large share of low-income patients would lead to shutdowns of rural and "safety net" hospitals.
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November 05, 2024
Georgia Man To Appeal Concrete Bid-Rigging Conviction
A Georgia man who, alongside his brother, was found guilty this summer of involvement in a scheme that fixed prices and rigged bids for tens of millions of dollars of ready-mix concrete contracts said Monday that he plans to appeal his conviction to the Eleventh Circuit.
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November 05, 2024
RNC Says Ga. Counties Can't Allow Late Absentee Ballots
Seven Democratic-leaning counties in Georgia have been hit with a lawsuit from the Republican National Committee and its state counterpart trying to block the counties from continuing to accept hand-returned absentee ballots at the "eleventh hour" after the end of early voting last week.
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November 05, 2024
On The Ground: How Attorneys Safeguarded The Election
Attorneys worked tirelessly Tuesday to support citizens and election workers on the final day of voting in one of history's most contentious presidential contests.
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November 04, 2024
How The Election Results Could Shape Data Privacy Policy
The outcome of Tuesday's national elections will have a significant effect on the direction of efforts to regulate companies' collection and sale of consumer data, with the winners expected to dictate how aggressive an approach federal policymakers and regulators such as the Federal Trade Commission will take.
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November 04, 2024
Kroger, State AGs Finalize Sprawling $1.37B Opioid Deal
Kroger will pay $1.37 billion to dozens of states and thousands of counties, municipalities and Native American tribes to resolve allegations the grocery store chain contributed to the opioid crisis, with Ohio, California and Texas seeing the largest distributions, according to a finalized settlement unveiled Monday.
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November 04, 2024
New Panel Not Needed In NLRB Row, Exxon Tells 5th Circ.
A Fifth Circuit panel questioned ExxonMobil's assertion that it could keep the same National Labor Relations Board panel makeup besides a board member flagged for conflict of interest, telling Exxon there was "good reason" for a completely new panel during oral arguments Monday.
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November 04, 2024
SEC Must Prep For Legal Challenges To Regs, Watchdog Says
The U.S. Securities and Exchange Commission should prepare for more litigation over its rulemaking agenda and make sure its new regulations can pass judicial muster, particularly in light of budget constraints, the agency's inspector general warned in a Monday report.
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November 04, 2024
Whistleblowers Win Cut Of Medical Kickback Settlement
Three whistleblowers who tipped off the federal government to a medical device company's multimillion-dollar kickback scheme are entitled to a cut of the $3 million in False Claims Act settlements paid by surgeons who admitted participating in the sham consulting ploy, a Boston federal judge ruled Monday.
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November 04, 2024
Post-Chevron, DC Circ. Wrestles With At-Sea Monitoring Rule
A D.C. Circuit panel on Monday revisited a challenge to federal regulations requiring fishermen to fund the cost of compliance monitors aboard their ships, grappling with how to interpret the federal statute underlying the regulations following the demise of the Chevron deference.
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November 04, 2024
'Oh, Come On': 5th Circ. Doubts Intuit Ads Misled Consumers
The Fifth Circuit on Monday seemed skeptical that the company behind TurboTax duped customers into thinking they could file their tax returns for free, with judges engaging in a lengthy back-and-forth with the Federal Trade Commission over how noticeable disclosures on the ads had to be for the agency to consider them truthful.
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November 04, 2024
SEC Dings Adviser For Improper Athlete-Endorsed Ads
The U.S. Securities and Exchange Commission has fined an investment adviser over allegations that its advertisements include endorsements from professional soccer and mixed martial arts athletes without disclosing the athletes were not clients of the firm and were paid for their endorsements.
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November 04, 2024
Microsoft Wants To Weigh In On Google Play Store Challenge
Microsoft has asked the Ninth Circuit to allow it to file an amicus brief backing Epic Games in Google's challenge to an injunction requiring Google to open up its Play Store to competing app stores, arguing that the search giant's policies have prevented Microsoft from offering "mobile gaming experiences customers want."
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November 04, 2024
FINRA Fines Morgan Stanley $1M For Controls Violations
Morgan Stanley & Co. LLC has agreed to pay $1 million to resolve Financial Industry Regulatory Authority claims it violated the Exchange Act by failing to safeguard its customers against the entry of orders that were placed in error.
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November 04, 2024
Debt Collectors Sue Over CFPB's Guidance On Medical Debt
A debt collection trade group has sued the Consumer Financial Protection Bureau in Washington, D.C., federal court to overturn recent guidance that warned collectors about seeking payment on potentially inflated or unverified medical bills, slamming it as an "overtly political" end-run around proper rulemaking.
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November 04, 2024
NY AG Seeks Contempt For Anti-Abortion Org's 'Interference'
Counsel for the New York attorney general asked a federal judge Monday to hold an anti-abortion group in contempt for allegedly seeking to interfere with women's access to clinics despite an injunction, prompting questions about the limits of an advocate's civil rights.
Expert Analysis
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Deadline Extension Highlights PFAS Reporting Complexities
The U.S. Environmental Protection Agency's recent extension of reporting and recordkeeping timelines for per- and polyfluoroalkyl substances under the Toxic Substances Control Act offers relief to the regulated community, but the unprecedented volume of data required means that businesses must remain diligent in their data collection efforts, say attorneys at Alston & Bird.
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6th Circ. Preemption Ruling Adds Uncertainty For Car Cos.
Automakers and their suppliers need uniformity under the law to create sufficient scale and viable markets — but the Sixth Circuit's recent decision in Fenner v. General Motors creates more uncertainty around the question of when state law consumer claims related to violations of federal vehicle emissions and fuel economy standards are preempted, say attorneys at Sidley.
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What's Inside Feds' Latest Bank Merger Review Proposals
Recent bank merger proposals from a trio of federal agencies highlight the need for banks looking to grow through acquisition to consider several key issues much earlier in the planning process than has historically been necessary, say attorneys at Simpson Thacher.
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State Of The States' AI Legal Ethics Landscape
Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.
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How Biden Admin Has Used Antitrust Tools, And What's Next
The last four years have been marked by an aggressive whole-of-government approach to antitrust enforcement using a broad range of tools, and may result in lasting change regardless of the upcoming presidential election result, say attorneys at Norton Rose.
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How BIS' Rule Seeks To Encourage More Voluntary Disclosure
Updated incentives, penalties and enforcement resources in the Bureau of Industry and Security's recently published final rule revising the Export Administration Regulations should help companies decide how to implement export control compliance programs and whether to disclose possible violations, say attorneys at Freshfields.
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Making Sure Your Co. Isn't In The Next Section 13(f) Sweep
Enforcement actions taken against 11 institutional investment managers for alleged failures to file forms required by Section 13(f) of the Securities Exchange Act serve as a reminder that firms should carefully monitor their obligations to avoid becoming the target of the next enforcement sweep, say attorneys at Ropes & Gray.
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11th Circ. Kickback Ruling May Widen Hearsay Exception
In a $400 million fraud case, U.S. v. Holland, the Eleventh Circuit recently held that a conspiracy need not have an unlawful object to introduce co-conspirator statements under federal evidence rules, potentially broadening the application of the so-called co-conspirator hearsay exception, say attorneys at ArentFox Schiff.
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8 Childhood Lessons That Can Help You Be A Better Attorney
A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.
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Navigating Complex Regulatory Terrain Amid State AG Races
This year's 10 attorney general elections could usher in a wave of new enforcement priorities and regulatory uncertainty, but companies can stay ahead of the shifts by building strong relationships with AG offices, participating in industry coalitions and more, say Ketan Bhirud and Dustin McDaniel at Cozen O’Connor.
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How A Trump Win Might Affect The H-1B Program
A review of the Trump administration's attempted overhaul of the H-1B nonimmigrant visa program suggests policies Donald Trump might try to implement if he is reelected, and specific steps employers should consider to prepare for that possibility, says Eileen Lohmann at BAL.
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Challenge To Ill. Card Fee Law Explores Compliance Hurdles
A recent federal lawsuit challenging an Illinois law that will soon forbid electronic payment networks from charging fees for processing the tax and tip portions of card transactions, fleshes out the glaring compliance challenges and exposure risks financial institutions must be ready to face next summer, says Martin Kiernan at Amundsen Davis.
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Compliance Considerations For Calif. Child Labor Audit Law
California employers will need to conduct a fact-intensive analysis to determine whether a new state law that imposes transparency rules for child labor audits applies to their operations, and should look out for regulatory guidance that answers open questions about deadlines and penalties, says Sylvia St. Clair at Faegre Drinker.
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Recent Securities Cases Highlight Risks In AI Disclosures
Increasing public disclosure about the use and risks of artificial intelligence, and related litigation asserting that such disclosures are false or misleading, suggest that issuers need to exercise great care with respect to how they describe the benefits of AI, say Richard Zelichov and Danny Tobey at DLA Piper.
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Harris Unlikely To Shelve Biden Admin's Food Antitrust Stance
A look at Vice President Kamala Harris' past record, including her actions as California attorney general, shows why practitioners should prepare for continued aggressive antitrust enforcement, particularly in the food and grocery industries, if Harris wins the presidential election, says Steve Vieux at Bartko.