Expert Analysis

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  NY Banking Brief: All The Notable Legal Updates In Q2

  

  The second quarter of 2024 saw less enforcement activity in the realm of New York financial services, but brought substantial regulatory and legislative developments, including state regulators' guidance on cybersecurity compliance and customer service processes for virtual currency entities, say James Vivenzio and Andrew Lucas at Perkins Coie.

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  Skiing And Surfing Make Me A Better Lawyer

  

  The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

• Unpacking The Circuit Split Over A Federal Atty Fee Rule

  

  Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles at Finnegan.

• In Biz Account Breaches, Look Beyond The Payment Platform

  

  A business's legal path to recovering funds after bad actors access a payment platform account and engage in unauthorized transactions can lead into murky legal territory where liability is unclear, and pursuing the payment platform itself will be an uphill, if not insurmountable, struggle, say Edward Marshall and Morgan Harrison at Arnall Golden.

• After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

  

  The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

• A Framework For Investigating Commercial Loan Fraud

  

  As commercial loan transactions are increasingly subject to sophisticated fraud schemes, lenders must adopt dynamic strategies to detect, investigate and mitigate these schemes, say attorneys at Baker Donelson.

• Recruitment Trends In Emerging Law Firm Frontiers

  

  BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

• What Companies Should Consider Amid Multistate AG Actions

  

  The rise of multistate attorney general actions is characterized by increased collaboration and heightened scrutiny across various industries — including Big Tech and gaming — and though coalitions present challenges for targeted companies, they also offer opportunities for streamlined resolutions and coordinated public relations efforts, say attorneys at Cozen O'Connor.

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  Glassblowing Makes Me A Better Lawyer

  

  I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

• Careful Data Governance Is A Must Amid Enforcement Focus

  

  Federal and state regulators' heightened focus on privacy enforcement, including the Federal Trade Commission's recent guidance on consumer protection in the car industry, highlight the importance of proactive risk management, compliance and data governance, say Jason Priebe and Danny Riley at Seyfarth.

• What Employers Need To Know About Colorado's New AI Law

  

  The Colorado AI Act, enacted in May and intended to regulate the use of high-risk artificial intelligence systems to prevent algorithmic discrimination, is broad in scope and will apply to businesses using AI for certain employment purposes, imposing numerous compliance obligations and potential liability, say Laura Malugade and Owen Davis at Husch Blackwell.

• 5 Critical Factors Driving Settlement Values In Cyber Litigation

  

  Recent ransomware incidents and their legal repercussions offer five valuable insights into the determinants of settlement values in cyberattack-related litigation, and understanding these trends and their implications can better prepare organizations for the potential legal fallout from future breaches, says Peter Kamminga at JAMS.

• How Associates Can Build A Professional Image

  

  As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

• Firms Must Rethink How They Train New Lawyers In AI Age

  

  As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.

• What 4 Cyber Protection Actions Mean For Marine Transport

  

  Several recent steps by the Biden administration are necessary to address the cyber threats that increasingly disrupt the maritime sector, but also impose new legal risks, liabilities and operating costs on the owners and operators of U.S.-flagged vessels and facilities, say attorneys at Holland & Knight.