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Compliance
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March 28, 2025
SEC Dismisses Kraken, Consensys, Cumberland Crypto Suits
The U.S. Securities and Exchange Commission filed to dismiss crypto-focused enforcement actions against Kraken, Consensys and Cumberland DRW, solidifying a series of resolutions the firms announced earlier this month as the SEC charts a new path on crypto policy.
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March 28, 2025
Calif. Tenants Claim REIT Charged Extra For Pests, Trash
A proposed class of California tenants accused real estate investment trust Equity Residential and two of its subsidiaries of unlawfully charging them separate fees for pest control and trash collection.
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March 28, 2025
UK's CMA Floats Revised Fixes For Atlantic Air Travel Deal
The United Kingdom's Competition and Markets Authority took an important step Friday toward updating antitrust fixes for a partnership covering trans-Atlantic air routes among American Airlines, British Airways, Iberia, Aer Lingus and Finnair, putting the revised commitments out for public comment.
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March 28, 2025
Bank Regulators Will Seek To Rescind Biden-Era CRA Rules
Federal banking regulators said Friday that they plan to roll back Biden-era rules intended to increase bank lending in underserved areas, a pivot that comes after they had previously defended the rules amid a banking industry legal challenge.
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March 28, 2025
Congress Insider Joins Holland & Hart Federal Affairs Team
Holland & Hart LLP has hired an attorney with 10 years of experience working in policy, advisory and operational roles for members of Congress and in the Senate and House.
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March 28, 2025
DOGE Officials Arrive At SEC With Unclear Agenda
Staffers with Elon Musk's Department of Government Efficiency have made the U.S. Securities and Exchange Commission the latest target of their cost-cutting measures, as the agency confirmed Friday that it has begun onboarding DOGE staff.
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March 28, 2025
Judges Block Trump's Jenner & Block, WilmerHale Orders
Jenner & Block LLP and WilmerHale both won temporary restraining orders late Friday blocking President Donald Trump's executive orders targeting the firms, with two Washington, D.C., federal judges determining the firms have shown the orders are likely retaliation for their representation of certain clients.
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March 27, 2025
Trump Targets National Security Workers' Bargaining Rights
President Donald Trump on Thursday issued an executive order ending collective bargaining with unions representing workers at a number of agencies "with national security missions," saying that allowing the workers to bargain is "dangerous" in agencies with such responsibilities.
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March 27, 2025
Nikola Corp. Founder Says Trump Gave Him Full Pardon
President Donald Trump has pardoned Trevor Milton, the Nikola Corp. founder convicted of fraudulently inflating the electric-truck maker's value on Wall Street, Milton announced in a late Thursday post on X.
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March 27, 2025
FTC Seeks Amazon Execs' Financials For Prime Renewal Suit
The Federal Trade Commission urged a Washington federal court to make several Amazon executives hand over an accounting of their assets and liabilities, saying the financial information was essential for determining civil penalties in its lawsuit accusing the e-commerce giant of trapping consumers into renewing Prime subscriptions.
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March 27, 2025
SEC Liquidity Rule Suit Can't Be Axed Just Yet, Judge Says
A New York federal judge on Thursday refused to toss the U.S. Securities and Exchange Commission's suit alleging that Pinnacle Advisors LLC exceeded its allowed allotment of illiquid investments, as the intervening Loper Bright ruling has changed the standard for evaluating agency action since the dismissal bid was filed.
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March 27, 2025
Chase Sued Over Alleged Political 'Debanking' Of Fla. Biz
A Florida company alleged in a suit on Thursday that JPMorgan Chase Bank is unlawfully blocking payments the company is trying to make to a manufacturer based on "wholly unsubstantiated and false" claims that the company's leader has Russian mafia ties and participated in interference of the 2016 presidential election.
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March 27, 2025
Pulled CFPB Amicus 'Irrelevant' To Citibank Case, NY AG Says
The Consumer Financial Protection Bureau's move to withdraw a Biden-era brief backing New York Attorney General Letitia James' lawsuit over Citibank NA's handling of online wire fraud is "irrelevant to any matter currently pending before this court," James' office told a federal court Thursday.
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March 27, 2025
Chinese Fintech Investors Urge NJ Court To Keep Suit Alive
Investors in Chinese fintech company 9F Inc. urged a New Jersey federal judge to keep their securities class action alive on Thursday, arguing that their third amended complaint now includes the specific details the court previously said would make their securities fraud claims viable.
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March 27, 2025
Tesla Faces Fraud Claims Over Fatal Autopilot Crash
A California state judge said Thursday that fraudulent misrepresentation claims and punitive damages claims can go ahead against Tesla Inc. in a case over an accident that killed a 15-year-old, since they were not filed too late.
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March 27, 2025
Trump Targets WilmerHale In 5th BigLaw Executive Order
WilmerHale became the fifth large law firm to be on the receiving end of an executive order restricting its ability to practice law, with President Donald Trump on Thursday targeting the firm over its ties to former special counsel Robert Mueller as well as its immigration pro bono work and diversity practices.
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March 27, 2025
Vaping Interests Take Challenge To FDA Rule To 5th Circ.
A coalition of vaping interests challenging the U.S. Food and Drug Administration's marketing and recordkeeping regulations has taken the dispute to the Fifth Circuit after a lower district judge tossed the lawsuit, which claimed many in the industry were prohibited from seeking FDA approval for multiple products at once because of the high cost of applying.
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March 27, 2025
Trump Can Fire Agency Officials He Distrusts, DC Circ. Told
The White House laid out reasoning Thursday for asking the D.C. Circuit to bless President Donald Trump's firing of two Merit Systems Protection Board and National Labor Relations Board members, saying their reinstatement by lower courts interfered with executive authority and saddled Trump with officials "who lack his trust."
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March 27, 2025
Fintech Group Reups Bid to Defend CFPB Open Banking Rule
A fintech trade group has renewed its request to defend the Consumer Financial Protection Bureau's open banking rule from a challenge launched by a group of banks after the parties in the suit agreed to pause the suit to give the CFPB's new leadership time to review what it wants to do with the Biden-era measure.
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March 27, 2025
9th Circ. Revives Monsanto Roundup Expiration Label Fight
Consumers can pursue their proposed class claims against Monsanto that ingredients in its Roundup herbicides could form a dangerous cancer-causing substance, but not against a distributor, the Ninth Circuit ruled Thursday.
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March 27, 2025
DC Judge Seems Open To Fired Inspectors' Reinstatement Bid
A D.C. federal judge on Thursday questioned whether it would make practical sense to reinstate eight inspectors general fired by President Donald Trump while signaling openness to the federal watchdogs' argument that the president must follow the legally mandated process before they can be terminated.
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March 27, 2025
Texas Judge 'Disturbed' By Filings In Weight Loss Drug Case
A Texas federal judge had stern words for a group of compounding pharmacies while refusing to allow them to manufacture Eli Lilly's lucrative weight loss drug, saying he was "increasingly exasperated" with the pharmacies' attempts to dictate how he manages the case.
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March 27, 2025
Chamber Asks Justices To Review Duke Energy Monopoly Suit
The U.S. Chamber of Commerce urged the U.S. Supreme Court on Thursday to review a decision that revived a case accusing Duke Energy of squeezing a rival out of the market in North Carolina, saying the appeals court was wrong to recognize a "Frankenstein's monster" theory of harm.
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March 27, 2025
Fla. Judge OKs FTC To Unfreeze Assets In E-Commerce Suit
A Florida federal judge authorized the Federal Trade Commission to unfreeze bank accounts controlled by an Ohio man accused of defrauding e-commerce platform users out of $14 million provided he gives certain financial disclosures, but kept a temporary restraining order precluding business operations in place for now.
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March 27, 2025
FTC Reaches $17M Settlement With Online Cash Advance Co.
The Federal Trade Commission settled its false advertisement suit in New York federal court against online cash advance company Cleo AI Inc. for $17 million, according to a proposed settlement order posted on the FTC's website Thursday.
Expert Analysis
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5 Keys To Building Stronger Attorney-Client Relationships
Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.
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BlackRock Suit Highlights Antitrust Risks Of ESG
In Texas v. BlackRock, pending in Texas federal court, 13 state attorneys general are suing large institutional investors in the coal business, underscoring key reasons companies may want to alter their approach to developing and implementing policies related to environmental, social, and governance factors, especially if coordination with competitors is involved, say attorneys at Manatt.
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Suggestions For CFTC Enforcement's New Leadership
The recent change in leadership at the U.S. Commodity Futures Trading Commission presents an opportunity to reflect on past practices and consider opportunities for improvement at the commission's Enforcement Division, including in observing precedent and providing greater enforcement transparency, say attorneys at Clifford Chance.
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What SDNY Judge Can And Can't Do In Adams Case
The federal judge in the Southern District of New York overseeing the criminal case against New York City Mayor Eric Adams deferred making a decision on the government's motion to dismiss the indictment, and while he does have limited authority to deny the motion, that would ultimately be a futile gesture, says Ethan Greenberg at Anderson Kill.
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Drug Kickback Ruling Will Make FCA Liability Harder To Prove
The First Circuit's ruling in U.S. v. Regeneron Pharmaceuticals, requiring the government to prove but-for causation to establish False Claims Act liability based on violations of the Anti-Kickback Statute, raises the bar for FCA enforcement and deepens a circuit split that the U.S. Supreme Court may need to resolve, say attorneys at Baker Donelson.
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What Axed Title IX Gender Identity Rule Means For Higher Ed
Following a Kentucky federal court's recent decision in State of Tennessee v. Cardona to strike down a Biden-era rule that expanded the definition of Title IX to prohibit discrimination on the basis of gender identity, institutions of higher education should prepare to reimplement policies that comply with the reinstated 2020 rule, say attorneys at Venable.
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Assessing PE Risk After Mass. False Claims Act Amendments
A law recently passed in Massachusetts amends the commonwealth's False Claims Act by dramatically expanding potential liability for private equity firms and investors, underscoring the importance of robust diligence and risk assessments for private equity firms conducting transactions in the commonwealth, say attorneys at Gibson Dunn.
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How Crypto Firms Should Approach Patchwork Of State Laws
The Money Transmission Modernization Act was designed to create uniformity across state digital regulations, but the reality remains far from consistent — as demonstrated by the patchwork of laws in states like Texas, Vermont, New York and California — so as state legislatures convene in the coming weeks, crypto firms should watch closely for developments that could shape the regulatory landscape, say attorneys at Paul Hastings.
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A Path Forward For Cos. Amid Trump's Anti-DEIA Efforts
Given the Trump administration’s recent efforts targeting corporate diversity, equity, inclusion and accessibility programs — including threatening possible criminal prosecution — companies should carefully tailor their DEIA initiatives to comply with both the letter and the spirit of antidiscrimination law, say attorneys at Pillsbury.
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The Current And Future State Of Bank-Fintech Partnerships
Though the Consumer Financial Protection Bureau under President Donald Trump seems likely to cultivate an environment friendlier to the financial services industry, bank-fintech partnerships should stay devoted to proactive compliance and be ready to adapt to regulatory shifts that may intensify scrutiny from enforcers, say attorneys at Greenberg Traurig.
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What Trump Actions Mean For Federal Research Funding
New guidance from the National Institutes of Health represents a massive policy shift regarding federal funding for researchers at institutions of higher education, contributing to a perfect storm of significant resource shortfalls in upcoming years, say attorneys at Arnold & Porter.
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Workforce Data Collection Considerations After DEI Order
Following President Donald Trump's executive order targeting diversity, equity and inclusion efforts, employers should balance the benefits of collecting demographic data with the risk of violating the order’s prohibition on "illegal DEI," say Lynn Clements at Berkshire Associates, David Cohen at DCI Consulting and Victoria Lipnic at Resolution Economics.
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Opinion
NFT Bill Needs Refining To Effectively Regulate Digital Assets
A recent bill in the U.S. House proposing to regulate nonfungible tokens as digital assets would leave key concepts undefined until the U.S. comptroller general completes an after-the-fact study of NFTs, showing it needs more work before it is comprehensive enough to meaningfully protect the market, say attorneys at Duane Morris.
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How The AI Antitrust Landscape Might Evolve Under Trump
The Trump administration's early actions around artificial intelligence and antitrust policy, along with statements from competition regulators, suggest that the AI competition landscape may see reduced scrutiny around acquisitions, but not an entirely hands-off enforcement approach, say attorneys at Hogan Lovells.
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McMahon SEC Settlement Warns Of Nondisclosure's Price
The U.S. Securities and Exchange Commission's recent financial nondisclosure settlement with former WWE CEO Vince McMahon illustrates the breadth of executives' reimbursement obligations under the Sarbanes-Oxley Act and highlights the importance of building robust internal corporate reporting processes, say attorneys at BCLP.