Expert Analysis

• Deciphering SEC Disgorgement 4 Years After Liu

  

  Since the U.S. Supreme Court’s 2020 decision in Liu v. U.S. Securities and Exchange Commission to preserve SEC disgorgement with limits, courts have continued to rule largely in the agency’s favor, but a recent circuit split over the National Defense Authorization Act's import may create hurdles for the SEC, say attorneys at Ropes & Gray.

• Opinion

  California Has A Duty To Curtail Frivolous CIPA Suits

  

  As plaintiffs increasingly file class actions against companies for their use of website tracking cookies and pixels, the Legislature should consider four options to amend the California Invasion of Privacy Act and restore the balance between consumer privacy and business operational interests, say Steven Stransky and Jennifer Adler at Thompson Hine and Glenn Lammi at the Washington Legal Foundation.

• Updates To CFTC Large Trader Report Rules Leave Questions

  

  The U.S. Commodity Futures Trading Commission's updated large trader position reporting rules for futures and options is a much-needed change that modernizes a rule that had gone largely untouched since the 1980s, but the updates leave important questions unanswered, say Katherine Cooper and Maggie DePoy at BCLP.

• Series

  Playing Chess Makes Me A Better Lawyer

  

  There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.

• State Procurement Could Be Key For Calif. Offshore Wind

  

  A recent ruling from the California Public Utilities Commission highlights how the state's centralized electricity procurement mechanism could play a critical role in the development of long lead-time resources — in particular, offshore wind — by providing market assurance to developers and reducing utilities' procurement risks, say attorneys at Wilson Sonsini.

• Key FCC Enforcement Issues In AT&T Location Data Appeal

  

  AT&T’s decision to challenge a $57 million fine from the Federal Communications Commission for its alleged treatment of customer location information highlights interesting and fundamental issues about the constitutionality of FCC enforcement, say Patrick O’Donnell and Jason Neal at HWG.

• Calif. Budget Will Likely Have Unexpected Tax Consequences

  

  A temporary suspension of net operating loss deductions and business incentive tax credits, likely to be approved on June 15 as part of California’s next budget, may create unanticipated tax liabilities for businesses that modeled recently completed transactions on current law, says Myra Sutanto Shen at Wilson Sonsini.

• How SEC Could Tackle AI Regulations On Brokers, Advisers

  

  The U.S. Securities and Exchange Commission held an open meeting of its Investor Advisory Committee on June 6 to review the use of artificial intelligence in investment decision making, showing that regulators are being careful not to stifle innovation or implement rules that will quickly be made irrelevant after their passage, says Brian Korn at Manatt Phelps.

• Litigation Inspiration: Attys Can Be Heroic Like Olympians

  

  Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.

• Biden Admin Proposals May Facilitate US, UK, Australia Trade

  

  Recent proposals that create exceptions to U.S. export licensing requirements for defense trade with Australia and the U.K. would remove hurdles that have hindered trade among the three countries, and could enable smaller companies in the sector to greatly expand their trade horizons, say Keil Ritterpusch and Grace Welborn at Buchanan Ingersoll.

• What To Know As CFPB Late Fee Rule Hangs In Limbo

  

  Though the Consumer Financial Protection Bureau's final credit card late fee rule faces an uncertain future due to litigation involving injunctions, emergency petitions and now a venue dispute, card issuers must understand how to navigate the interim period and what to do if the rule takes effect, say attorneys at Steptoe.

• Short-Term Takeaways From CMS' New Long-Term Care Rules

  

  The Centers for Medicare & Medicaid Services' new final rule on nursing home staffing minimums imposes controversial regulatory challenges that will likely face significant litigation, but for now, stakeholders will need to prepare for increased staffing expectations and more specialized facility assessments without meaningful funding, say attorneys at Morgan Lewis.

• What TikTok's Race Against The Clock Teaches Chinese Firms

  

  The Biden administration's recent divestiture deadline on TikTok parent ByteDance provides useful information for other China-based companies looking to do business in the U.S., including the need to keep products for each market separate and implement firewalls at the design stage, says Richard Lomuscio at Stinson.

• Updated Federal Rules Can Improve Product Liability MDLs

  

  The recent amendment of a federal evidence rule regarding expert testimony and the proposal of a civil rule on managing early discovery in multidistrict legislation hold great promise for promoting the uniform and efficient processes that high-stakes product liability cases particularly need, say Alan Klein and William Heaston at Duane Morris.

• Lean Into The 'Great Restoration' To Retain Legal Talent

  

  As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.