Compliance

  • August 14, 2024

    FINRA Fines Morgan Stanley $400K Over Transaction Records

    A Morgan Stanley wealth management unit will pay the Financial Industry Regulatory Authority $400,000 to settle claims it left required information off of approximately 550,000 trade confirmations for certain municipal securities.

  • August 14, 2024

    Temu Parent Faces Investor Suit Over Security, Labor Claims

    Chinese retail company PDD Holdings Inc., the owner of online merchandiser Temu, was hit with a proposed securities class action in New York federal court alleging it concealed from investors that it actively sought to put malware on its users' phones and sold goods that were likely made by forced labor.

  • August 14, 2024

    Tuna Price-Fixing Deal Comes With A Catch: $26M In Fish

    Two groups of buyers accusing major canned tuna producers of price-fixing have asked a California federal judge to give the first seal of approval to settlements totaling more than $168 million in cash, plus $26 million in packaged tuna products.

  • August 14, 2024

    Google-Epic Antitrust Judge Vows To 'Tear The Barriers Down'

    A California federal judge appeared impatient Wednesday with Google's arguments against Epic Games' proposed changes to the Google Play Store in the wake of Epic's antitrust jury win, saying the world created by its "monopolist conduct" is changing, and vowing "to tear the barriers down."

  • August 14, 2024

    DOJ Defends Boeing Plea Deal Over Families' Objections

    The U.S. Department of Justice said Wednesday that Boeing's plea agreement is the best possible criminal resolution that holds the company accountable for defrauding regulators about the 737 Max 8's development, rejecting claims from crash victims' families that the "morally reprehensible" deal lets Boeing skirt culpability.

  • August 14, 2024

    CFPB Probe Draws Bead On Sporting Goods BNPL Firm

    Credova, a fintech firm that specializes in buy-now, pay-later loans and other financing options for firearms and outdoor recreational goods purchases, is facing scrutiny from the Consumer Financial Protection Bureau and a potential enforcement action, its parent company said Wednesday.

  • August 14, 2024

    4 States Oppose FTC Bid To Block Kroger-Albertsons Deal

    Four Republican-led states defended Kroger's proposed $25 billion acquisition of Albertsons in an amicus brief Wednesday, telling the Oregon federal judge overseeing the Federal Trade Commission's challenge to the deal that blocking it would actually "weaken, not protect, competition."

  • August 14, 2024

    HHS Eyes 2025 For New Medicare Appeal Rule

    In response to a Connecticut federal judge's stern demand for quicker progress, the U.S. Department of Health and Human Services has said in a court filing that it should be able to implement a new rule creating an avenue for Medicare beneficiaries to appeal their hospitalization status by Jan. 1.

  • August 14, 2024

    House Republican Files Bill To Fix 'Rip And Replace' Shortfall

    A Texas Republican has introduced U.S. House legislation to fill the shortfall in the "rip and replace" program to reimburse telecoms for ridding their networks of Chinese-made components, to the tune of $3.08 billion.

  • August 14, 2024

    Texas AG Threatens Suit Over Dallas State Fair's Firearms Ban

    Texas Attorney General Ken Paxton has threatened to sue the city of Dallas if it doesn't reverse a policy prohibiting state fair patrons from bringing firearms into the fairgrounds.

  • August 14, 2024

    FTC Finalizes Rule To Crack Down On Fake Online Reviews

    The Federal Trade Commission on Wednesday announced it has finalized a rule to thwart marketers from using false reviews and testimonials, cementing the agency's authority to seek civil penalties from knowing violators for a host of misconduct including the use of AI-generated fake reviews.

  • August 14, 2024

    Philly Art School Hit With Students' Suit Over Abrupt Closure

    Two former students at the University of the Arts claimed the school's sudden shutdown in June was without proper heads-up or guidance, according to a potential class action in Pennsylvania federal court.

  • August 14, 2024

    CFTC Hits Vitol With First-Of-Its-Kind Position Limits Fine

    The U.S. Commodity Futures Trading Commission issued its first-ever fine Wednesday against a trader exceeding position limits by holding the same contract across multiple exchanges, penalizing Swiss energy and commodities company Vitol SA for its positions on cattle and crude oil futures.

  • August 14, 2024

    Nursing Co. Exec Can't Split Up Fraud, Wage-Fixing Charges

    A Nevada federal magistrate judge has struck two blows against a home healthcare staffing executive facing criminal charges of fixing nurses' wages and hiding that probe when selling the business for $12.5 million, as the judge refused to break up the allegations and recommended against dismissing the fraud counts.

  • August 14, 2024

    Michigan's Airport PFAS Pollution Suit Escapes Foam MDL

    A Michigan federal judge has agreed to disentangle state regulators' PFAS pollution claims against an airport from claims against manufacturers of the chemicals, a move that prevents the state's case from being absorbed into multidistrict litigation over firefighting foam.

  • August 14, 2024

    10th Circ. Wipes Out Fight Over Obama-Era Methane Rule

    The Tenth Circuit has thrown out a lower court ruling partially invalidating an Obama-era rule limiting venting and flaring from oil and gas wells on federal land, saying a new rule crafted by the Biden administration moots the entire case.

  • August 14, 2024

    Mobile Carriers Worry Anti-Robotext Rules Could Go Too Far

    Content-neutral text-blocking standards are not the way to go, a key wireless trade group has told the Federal Communications Commission, saying that stripping away the current industry standards in favor of nondiscriminatory ones would "open the floodgates to messages that consumers do not want."

  • August 14, 2024

    EU OKs Siemens' $3.8B Sale Of Innomotics To PE Firm KPS

    European Union antitrust enforcers signed off Wednesday on German tech conglomerate Siemens AG's plan to sell its Innomotics large motors and drives unit to New York City-based private equity firm KPS Capital Partners, finding that the deal, with an enterprise value of €3.5 billion ($3.9 billion), poses "limited" overlap concerns.

  • August 14, 2024

    Army Analyst Cops To Selling Military Secrets To China

    A U.S. Army soldier and intelligence analyst has pled guilty to charges that he sold classified American military secrets to China for $42,000.

  • August 14, 2024

    Judge Blocks Missouri's Anti-ESG Rules, Handing SIFMA Win

    A Missouri federal judge found Wednesday that the state's anti-ESG rules for brokers and advisers violate the First Amendment and are preempted by federal laws, handing the Securities Industry and Financial Markets Association an early win in its suit against state officials.

  • August 14, 2024

    Ex-Binance GC Joins Crypto Co. Bitget As Legal Chief

    Seychelles-based crypto exchange Bitget on Wednesday announced it has hired a new chief legal officer who, among other roles, served as general counsel at Binance prior to its high-profile settlement with U.S. authorities last year.

  • August 14, 2024

    M&A Surge May Bring Opportunities For Cybercriminals

    An increase in mergers and acquisitions is creating more openings for cybercriminals to exploit companies and their customers, highlighted by February's Change Healthcare breach and other major hacks, according to a new report from cybersecurity firm Resilience. 

  • August 14, 2024

    The Biggest Enviro Decisions Of 2024: Midyear Report

    2024 has already been one of the most consequential years for environmental law, and it's only half over. The U.S. Supreme Court issued groundbreaking administrative law decisions, while lower appeals courts resolved questions about California's right to promulgate its own vehicle emissions standards, among other rulings.

  • August 14, 2024

    Feds Nab US-Iran Citizen On Aircraft Parts Charges

    A dual U.S.-Iranian citizen was charged in D.C. federal court with procuring American aircraft parts and attempting to send them to Iran in violation of U.S. sanctions, the U.S. Department of Justice said Wednesday.

  • August 14, 2024

    Rising Star: Latham's Joe Bargnesi

    Joe Bargnesi of Latham & Watkins LLP advises dozens of private equity firms and represented Honeywell as it fought back on a bribery probe the U.S. Department of Justice launched against it, earning him a spot among the compliance law practitioners under age 40 honored by Law360 as Rising Stars.

Expert Analysis

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • Decoding CFPB Priorities Amid Ramp-Up In Nonbank Actions

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    Based on recent Consumer Financial Protection Bureau enforcement actions and press releases about its supervisory activities, the agency appears poised to continue increasing its scrutiny over nonbank entities — particularly with respect to emerging financial products and services — into next year, say attorneys at Wiley.

  • PE Firms Should Prepare For Increased False Claims Scrutiny

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    The impact private equity firms may have over medical decisions and care is increasingly attracting potential liability under the False Claims Act and attention from states and the federal government, so investors should follow best practices including conducting due diligence both before and after acquisitions, say attorneys at K&L Gates.

  • How 3rd Circ. Raised Bar For Constitutional Case Injunctions

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    The Third Circuit's decision in Delaware State Sportsmen's Association v. Delaware Department of Safety & Homeland Security, rejecting the relaxed preliminary injunction standards many courts have used when plaintiffs allege constitutional harms, could portend a shift in such cases in at least four ways, say attorneys at Gibson Dunn.

  • New Russia Sanctions Law: Bank Compliance Insights

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    Financial institutions must familiarize themselves with the new reporting obligations imposed by the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act, a recent law that authorizes seizures of Russian sovereign assets under U.S. jurisdiction, say attorneys at Seward & Kissel.

  • 3 Healthcare FCA Deals Provide Self-Disclosure Takeaways

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    Several civil False Claims Act settlements of alleged healthcare fraud violations over the past year demonstrate that healthcare providers may benefit substantially from voluntarily disclosing potential misconduct to both the U.S. Department of Justice and the U.S. Department of Health and Human Services, say Brian Albritton and Raquel Ramirez Jefferson at Phelps Dunbar.

  • Series

    A Day In The In-House Life: Block CLO Talks Problem-Solving

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    Amid the busy summer months, Block Inc. Chief Legal Officer Chrysty Esperanza chronicles a typical Wednesday where she conquered everything from unexpected fintech regulatory issues and team building to Bay Area commutes and school drop-off.

  • Shipping Containers As Building Elements Require Diligence

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    With the shipping container market projected to double between 2020 and 2028, repurposing containers as storage units, office spaces and housing may become more common, but developers must make sure they comply with requirements that can vary by intended use and location, says Steven Otto at Crosbie Gliner.

  • 7th Circ. Ruling Expands CFPB Power In Post-Chevron Era

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    The Seventh Circuit’s recent ruling in Consumer Financial Protection Bureau v. Townstone Financial interprets the Equal Credit Opportunity Act broadly, paving the way for increased CFPB enforcement and hinting at how federal courts may approach statutory interpretation in the post-Chevron world, say attorneys at Saul Ewing.

  • How Loper Bright Weakens NEPA Enviro Justice Strategy

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    The National Environmental Policy Act is central to the Biden administration's environmental justice agenda — but the U.S. Supreme Court's recent decision in Loper Bright Enterprises v. Raimondo casts doubt on the government's ability to rely on NEPA for this purpose, and a pending federal case will test the strategy's limits, say attorneys at Perkins Coie.

  • Heading Off Officials' Errors When Awarded A Gov't Contract

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    Government contractors awarded state or local projects funded through federal programs should seek clarification of their compliance obligations, documenting everything, or risk having to defend themselves when they seek reimbursement months later, with only their word for support, says George Petel at Wiley.

  • Drip Pricing Exemption Isn't A Free Pass For Calif. Eateries

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    A new exemption relieves California bars and restaurants from the recently effective law banning prices that don't reflect mandatory fees and charges — but such establishments aren't entirely off the hook for drip pricing, due to uncertainty over disclosure requirements and pending federal junk fee regulations, say Alexandria Ruiz and Amy Lally at Sidley.

  • Justices' Intent Witness Ruling May Be Useful For Defense Bar

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    At first glance, the U.S. Supreme Court’s recent Diaz v. U.S. decision, allowing experts to testify to the mental state of criminal defendants in federal court, gives prosecutors a new tool, but creative white collar defense counsel may be able to use the same tool to their own advantage, say Jack Sharman and Rachel Bragg at Lightfoot Franklin.

  • Eye On Compliance: New Pregnancy And Nursing Protections

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    With New York rolling out paid lactation breaks and extra leave for prenatal care, and recent federal legislative developments enhancing protection for pregnant and nursing workers, employers required to offer these complex new accommodations should take several steps to mitigate their compliance risks, says Madjeen Garcon-Bonneau at Wilson Elser.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

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