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Compliance
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September 20, 2024
FCC Launches $200M School, Library Cybersecurity Program
The Federal Communications Commission has begun rolling out a new cybersecurity program for schools and libraries under the E-Rate federal subsidy for "anchor" institutions, highlighting their increasing vulnerabilities to cyberattacks.
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September 20, 2024
SEC Fines Investment Adviser $750K For Cherry-Picking
The U.S. Securities and Exchange Commission has filed settled charges against a former trader for a previously registered investment adviser who allegedly cherry-picked profitable trades to favored clients, fining him $750,000.
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September 20, 2024
Utilities Group Wants In On 4th Circ. FERC Grid Policy Fight
A coalition of municipal utilities and electricity cooperatives that rely on transmission facilities they don't own to deliver power urged the Fourth Circuit to let it intervene in an appeal challenging the Federal Energy Regulatory Commission's recent overhaul of its regional transmission policy.
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September 20, 2024
NY Utilities Tell DC Circ. More Risk Should Equal More Return
A D.C. Circuit panel on Friday weighed the differences between risks and costs in a dispute between a group of New York utilities and the Federal Energy Regulatory Commission over rates the power companies can charge after making infrastructure upgrades.
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September 20, 2024
SpaceX, Musk Attack FAA Following Proposed Fines
SpaceX is lashing out at the Federal Aviation Administration's "inability to keep pace with the commercial spaceflight industry" days after the agency said it planned to slap the company with $633,000 in fines, prompting founder and majority owner Elon Musk to threaten a lawsuit.
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September 20, 2024
NFT Buyers Bring Securities Suit Against Crypto Co. OpenSea
Two Florida users of OpenSea hit the nonfungible token marketplace with a proposed securities class action claiming the assets the users bought on the platform are unregistered investment contracts in light of recent court decisions and regulatory scrutiny from the U.S. Securities and Exchange Commission.
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September 20, 2024
Calif. Panel Backs VW Drivers' $3.5M Data Breach Deal
California appellate justices have upheld Volkswagen and Audi drivers' $3.5 million data breach settlement and rejected an objector's request to intervene and vacate judgment, finding that her disagreement with their litigation strategy doesn't mean her interests weren't adequately represented.
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September 20, 2024
FERC Opens Enbridge Rate Probe Amid Overcharging Fears
The Federal Energy Regulatory Commission has opened a rate probe into a gas pipeline co-owned by Enbridge Inc. and DT Midstream, saying the pipeline may be overcharging its customers.
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September 20, 2024
Employment Authority: DOL's Strategies After Chevron Ruling
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on how effective the U.S. Department of Labor's tactics have been after the U.S. Supreme Court nixed the Chevron doctrine, the Federal Trade Commission's challenge to a proposed merger between Kroger and Albertsons highlights the overlap between labor law and antitrust enforcement and a look at the U.S. Equal Employment Opportunity Commission's enforcement efforts on the nation's newest civil rights laws.
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September 20, 2024
Ga. Election Board Orders Election-Night Hand Count
The Georgia Election Board's Republican majority voted Friday to establish a controversial new rule requiring counties to hand-count all ballots cast at polling places on Election Day, a move that comes shortly after a lawsuit was filed challenging the board's authority to issue such rules.
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September 20, 2024
JPMorgan Chase Sued Again Over Cash 'Sweep' Program
JPMorgan Chase & Co. was hit with another proposed class action in California federal court claiming the bank's cash sweep investment program funnels customer funds into low-interest bearing accounts at its affiliate Chase Bank, a move that benefits the financial giant while depriving customers of the chance to earn the market-rate interest.
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September 20, 2024
House Passes GOP Push To Nix EPA Auto Emissions Regs
The Republican-controlled U.S. House of Representatives on Friday passed a resolution that would block implementation of the Biden administration's tighter greenhouse gas emissions standards for cars and light trucks, though the legislation is likely dead on arrival in the Democratic-controlled Senate.
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September 20, 2024
CFTC Issues Final Guidance On Carbon Credit Markets
The U.S. Commodity Futures Trading Commission on Friday put forth guidelines it says will help foster transparency and deter manipulation in the emerging market for voluntary carbon credits by, among other things, encouraging derivatives exchanges to assess the environmental benefits associated with the credits.
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September 20, 2024
Ex-Harvard Football Player Fraudulently Raised $3M, Suit Says
The U.S. Securities and Exchange Commission alleges in a new suit that a former Harvard football player swindled more than $3 million from two dozen investors by promising them that their money would be used for sports-related investments when, in reality, it was used for the defendant's personal expenses, such as rent for a multimillion-dollar home.
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September 20, 2024
2 SEC Commissioners Object To Whistleblower Award Secrecy
U.S. Securities and Exchange Commissioners Mark Uyeda and Hester Peirce have objected to the agency's recent decision to hand out a total of $122 million in two awards to four whistleblowers and issued a statement taking issue with the regulator's policy of saying little to nothing about why the rewards are issued.
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September 20, 2024
Q&A With Former CPSC Chair Elliot Kaye
The legal career of Elliot Kaye, who was chair of the Consumer Product Safety Commission from 2014 to 2017, has intrepidly crossed the government, private and nonprofit sectors. Kaye talked with Law360 about life after leaving the CPSC, which include a kidney transplant and being on the ground in Ukraine while working for World Central Kitchen.
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September 20, 2024
HCA Presses For NC Attorney General's Merger Review Docs
HCA Healthcare is demanding North Carolina Attorney General Josh Stein turn over certain public records pertaining to his office's review of a 2019 hospital merger at the center of a compliance case, saying they aren't privileged or otherwise protected under work-product.
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September 20, 2024
Houston Judge Won't Take Up Prosecutor License Issue
A Houston judge declined to take up allegations that a government prosecutor participated in a case against a Texas surgeon while her law license was suspended, denying the doctor's show cause motion in a brief order Thursday.
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September 20, 2024
Chevron's Demise May Not Bring Deluge Courts Had Feared
Though the death of Chevron deference has opened a door to attacking administrative decisions, the expected uptick in litigation probably won't threaten to clog federal courts, numerous administrative law experts told Law360.
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September 20, 2024
Ga. Airport Pat-Down Caused Catastrophic Injuries, Man Says
A man sued the government and several unnamed parties in Georgia federal court Thursday, alleging that he fractured his thoracic vertebrae, spent 52 days in the hospital and had to undergo surgery after an airport screening incident at Hartsfield-Jackson Atlanta International Airport.
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September 20, 2024
FTC Accuses Drug Middlemen Of Raising Insulin Prices
The Federal Trade Commission on Friday accused the three largest pharmacy benefits managers, Caremark Rx, Express Scripts and OptumRx, of artificially inflating insulin prices by relying on unfair rebate schemes that hurt competition.
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September 19, 2024
Publishers 'Did Not Trust Google,' Former Ad Tech Exec Says
A former Google executive acknowledged Thursday that at least some website publishers sought a workaround to the search giant's advertising placement technology because they didn't trust the company's consolidated control, which the Justice Department has challenged in a Virginia federal courtroom.
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September 19, 2024
Dems Seek School Lunch 'Junk Fee' Ban After CFPB Report
A group of Democratic senators has called on the Biden administration to crack down on payment processing fees in school lunch programs, citing a recent Consumer Financial Protection Bureau report that raised concerns about the charges parents pay to fund their kids' online lunch money accounts.
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September 19, 2024
CFTC Warns Of 'Profound' Harm In Election Betting Appeal
The U.S. Commodity Futures Trading Commission fought Thursday to prevent an online trading platform from offering betting on election outcomes while the agency appeals a trial court ruling that allowed the futures contracts to go live, warning the D.C. Circuit that the "high-stakes" event contracts threaten serious harm to election integrity.
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September 19, 2024
Feds Can't Order $31M To Refill Class Funds, 3rd Circ. Told
A New Jersey man convicted for stealing $40 million from settlements in stockholder class actions told a Third Circuit panel Thursday the multimillion-dollar restitution ordered at his sentencing is unlawful and should be vacated, arguing that the settlements weren't harmed.
Expert Analysis
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CrowdStrike Incident Highlights Third-Party Risk For Banks
The global business disruptions caused by CrowdStrike's faulty software update last month serves as a reminder that banks should assess operational and compliance risks associated with third-party service providers and create resiliency plans extending down to fourth- and fifth-level providers, says Craig Landrum at Jones Walker.
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Calif. Ruling Clarifying Paystub Compliance Is Win For Cos.
In rare good news for California employers, the state Supreme Court recently clarified that workers couldn’t win extra penalties in wage and hour cases by claiming their employer intentionally violated state paystub law if the employer believed it had complied in good faith, say Drei Munar and Kirk Hornbeck at Hunton.
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Considering Noncompete Strategies After Blocked FTC Ban
A Texas district court's recent decision in Ryan v. Federal Trade Commission to set aside the new FTC rule banning noncompetes does away with some immediate compliance obligations, but employers should still review strategies, attend to changes to state laws and monitor ongoing challenges, say attorneys at Baker McKenzie.
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Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling
The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.
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Replacing The Stigma Of Menopause With Law Firm Support
A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.
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How DOJ May Change FARA Exemption In Forthcoming Rule
Any day now, the U.S. Department of Justice is expected to issue proposed revisions to the Foreign Agents Registration Act regulations, and signs suggest that it will likely narrow one of FARA's broadest exemptions, which may compound public confusion about the law's requirements, says Murad Hussain at Arnold & Porter.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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Key Concerns To Confront In FDIC Brokered Deposit Proposal
Banks and fintech companies should note several fundamental issues with the Federal Deposit Insurance Corp.'s recent proposal to widen how it classifies brokered deposits, an attempt to limit prudential risk that could expose the industry and underbanked consumers who rely on bank-fintech apps to widespread unintended consequences, say attorneys at Gibson Dunn.
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What To Expect From Evolving Wash. Development Plans
The current round of periodic updates to Washington counties' growth and development plans will need to address new requirements from recent legislation, and will also likely bring changes that should please property owners and developers, says Jami Balint at Seyfarth.
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Crypto Gatekeepers May Be The Next Front Of Enforcement
Lawyers and other professionals who advise cryptocurrency companies should beware regulators' increasing focus on gatekeeper accountability, and should take several measures to fulfill their ethical and legal obligations, including implementing a robust vetting mechanism when representing crypto clients, say Temidayo Aganga-Williams and Xinchen Li at Selendy Gay.
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Implementing Proposed AML Rules May Take More Guidance
Two recent rules proposed by financial regulators would modernize requirements for programs aimed at countering money laundering and terrorist financing by centering more robust risk assessments, but financial institutions may need more specific guidance before they could confidently comply, say Meghann Donahue and Nikhil Gore at Covington.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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What To Expect From CFPB And DOT Card Rewards Inquiry
Following the Consumer Financial Protection Bureau's announcement of joint efforts with the U.S. Department of Transportation to investigate credit card rewards points, credit card issuers and airlines should keep a close eye on potential regulatory and class action litigation risks stemming from the inquiry, say attorneys at DLA Piper.
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What FCA Cases May Look Like In The Age Of Generative AI
Generative artificial intelligence raises unique considerations both in the context of potentially leading to False Claims Act cases and in the discovery and litigation phases of these lawsuits, says attorney Rachel Rose.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.