Compliance

  • November 21, 2024

    Gaetz Ends AG Bid, Citing 'Distraction' To Trump Transition

    Former U.S. Rep. Matt Gaetz withdrew his name from consideration Thursday as President-elect Donald Trump's nominee for attorney general amid allegations of sexual misconduct and drug use.

  • November 21, 2024

    Biden's FCC Chair Stepping Down From Agency Jan. 20

    The Democratic head of the Federal Communications Commission said Thursday she will be leaving the agency on Jan. 20.

  • November 21, 2024

    CFPB Wraps Rule To Pull Big Payment Apps Into Supervision

    The Consumer Financial Protection Bureau said Thursday that it has finalized a measure to bring providers of major digital payment apps under its supervisory umbrella, expanding the reach of its oversight deeper into the technology sector and drawing fresh calls to reverse course.

  • November 21, 2024

    DOJ Urges Chrome, Android Sales In Google Case

    The U.S. Department of Justice late Wednesday formally asked a Washington, D.C., federal judge to order a range of steps to end Google's monopolization of general search services and the text ads shown alongside search results, most notably by forcing the company to spin off the Chrome browser.

  • November 20, 2024

    SEC Cooperators More Likely To See Pay Reprieve In 2024

    The U.S. Securities and Exchange Commission's recent emphasis on cooperation seems to have paid off for both the agency and some of the entities it regulates, according to a report released Thursday, which found that more public companies entered into nonmonetary settlements with the SEC in fiscal year 2024 than in any year over the previous decade.

  • November 20, 2024

    Not So Fast: Lenders Say CFPB Payday Rule Must Stay On Ice

    Lender trade groups challenging the Consumer Financial Protection Bureau's payday loan rule have told the Fifth Circuit that they anticipate pursuing another U.S. Supreme Court appeal in their case, and that the rule should be kept on hold for even longer in the meantime.

  • November 20, 2024

    Musk, Ramaswamy Say High Court Rulings OK Federal Cuts

    Billionaire Elon Musk and former presidential candidate Vivek Ramaswamy, President-elect Donald Trump's picks to lead a newly created "Department of Government Efficiency," on Wednesday said two recent U.S. Supreme Court rulings will give them the authority to cut off power to regulatory agencies and conduct massive federal layoffs.

  • November 20, 2024

    Lululemon Execs Hit With Derivative Suit Over DEI Program

    Lululemon leadership was hit with a shareholder derivative suit Wednesday claiming they made false statements related to the company's new "Inclusion, Diversity, Equity and Action" program that artificially boosted the company's stock price and also concealed problems with the company's inventory allocation.

  • November 20, 2024

    Adani Group Chairman Charged In Sprawling Bribery Case

    Prosecutors unsealed a sprawling criminal indictment in New York federal court Wednesday, accusing Adani Group Chairman Gautam S. Adani and seven others of orchestrating a $250 million bribery scheme to secure lucrative Indian government renewable energy contracts, while misleading investors about the Adani Group subsidiary's dealings.

  • November 20, 2024

    Prison Phone Cos. Say FCC Reg Fight Belongs In 5th Circ.

    There should have been no lottery to decide where to place an appeal challenging the Federal Communications Commission's new caps on rates charged for prison phone calls — the matter belongs in the Fifth Circuit, a pair of prison phone service providers told the First Circuit.

  • November 20, 2024

    9th Circ. Judge Asks How Loper Bright Impacts EPA Fine Case

    A Ninth Circuit judge wondered on Wednesday what weight the court should give the Environmental Protection Agency's view in a chemical wholesaler's appeal of an $850,000 fine in light of the U.S. Supreme Court's Loper Bright decision, suggesting the justices might next end agency deference in regulatory interpretation.

  • November 20, 2024

    Ex-Pharma CEO Demands Legal Fees For SEC Probe

    Cancer treatment development company Eagle Pharmaceuticals Inc.'s founder and ex-CEO told Delaware's Chancery Court Wednesday that he is entitled to legal fees he says the company owes him in connection with a U.S. Securities and Exchange Commission probe into the company's accounting practices, saying he continues to incur fees in addition to the $875,000 he has already requested.

  • November 20, 2024

    2nd Circ. Doubts Error In Tenant Screener's FHA Suit Win

    A Second Circuit panel appeared skeptical Wednesday that a Connecticut federal judge used the wrong analysis to find that a tenant screener's criminal history reporting practices do not violate the Fair Housing Act, grilling counsel for the federal government about the lower court's process.

  • November 20, 2024

    GM Can't Get Full 6th Circ. Redo Of Duramax Emissions Case

    The full Sixth Circuit on Wednesday left untouched a divided panel's recent decision partly reviving drivers' claims alleging General Motors deceptively marketed Chevrolet Silverado and Sierra vehicles as being more environmentally friendly than they actually were, but two dissenting judges said the case warranted en banc review.

  • November 20, 2024

    FDIC Says BofA Deliberately Underpaid For Deposit Insurance

    A D.C. federal judge on Wednesday weighed the Federal Deposit Insurance Corp.'s $1.1 billion unjust enrichment suit against Bank of America, promising to rule shortly on competing summary judgment motions in the years-long proceeding, but not tipping her hand as to how she might ultimately come down.

  • November 20, 2024

    'Fat Leonard' To Appeal 15-Year Sentence Over Navy Bribery

    A Malaysian defense contractor and ex-fugitive who pled guilty nearly 10 years ago to a bribery scheme that authorities said cost the U.S. Navy over $20 million has indicated in California federal court that he will appeal his 15-year sentence to the Ninth Circuit.

  • November 20, 2024

    US Called Upon To Lead Cross-Border Payment Overhaul

    A senior official with the U.S. Department of the Treasury has warned that wide adoption of a poorly designed, cross-border payment system could threaten international financial stability and economic security, advising the U.S. to take the lead in developing and governing such systems.

  • November 20, 2024

    Ex-Wells Fargo Adviser Admits To Stealing $3M From Clients

    A former Wells Fargo broker and investment adviser admitted on Wednesday to stealing more than $3 million from his clients and customers and using the money for, among other things, buying gold coins, New Jersey federal prosecutors said.

  • November 20, 2024

    Bumble Brass Fumbled App Revamps, Investor Suit Says

    Current and former brass of dating app Bumble's parent company face shareholder derivative claims that they projected overconfidence about revamping its app, then saw trading prices crater when Bumble lowered its 2024 growth projections amid the tinkering.

  • November 20, 2024

    Judge Opens Path For Ex-Yale Student's Asylum Bid

    A Connecticut federal judge has illuminated a potential path for an expelled Yale student to send his sex assault accuser's name to immigration officials, suggesting that submitting a state trial transcript would "not seem to run afoul" of a magistrate judge's ban on otherwise naming the woman.

  • November 20, 2024

    SkyWest Airlines Hit With $2M Verdict In EEOC Harassment Case

    A Texas jury found in favor of the Equal Employment Opportunity Commission on Wednesday in a suit that saw SkyWest Airlines accused of sitting idle while an employee experienced persistent sexual harassment, awarding over $2 million in punitive damages for the workplace misconduct in federal court.

  • November 20, 2024

    Apple Says DOJ Case Has Too Much Speculation To Survive

    Apple's attorneys pressed a New Jersey federal judge Wednesday to toss the U.S. Department of Justice's monopolization lawsuit, asserting in oral arguments that the government is simply trying to force them to work with rivals when attacking controls imposed on iPhone app developers.

  • November 20, 2024

    Advance Notice Bylaw Measures Fuel Chancery Battle

    Arguing that recent corporate advance notice bylaws have resulted in "real, actual harm" to stockholders of Owings Corning and The AES Corp., attorneys for shareholders of both urged a Delaware vice chancellor on Wednesday to reject calls to dismiss challenges to the measures.

  • November 20, 2024

    FERC Says There's No Need To Ref Mich. Grid Upgrade Fight

    The Federal Energy Regulatory Commission defended its decision that Michigan Electric Transmission Co. failed to establish that shared ownership of new grid updates needed to serve a Michigan solar farm was necessarily precluded, telling the D.C. Circuit the electric utility hasn't shown how it's harmed.

  • November 20, 2024

    Split Ohio Supreme Court OKs Power Co.'s Herbicide Use

    The Ohio Supreme Court on Wednesday reversed an early win for landowners in a case against Ohio Edison Co. that had sought to stop the company from using herbicide on their property to clear space for power lines.

Expert Analysis

  • Key Legal Considerations After Supply Chain Disruptions

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    After U.S. supply chain disruptions — like the recent port workers' strike, and Hurricanes Helene and Milton — stakeholders should look to contractual provisions to mitigate losses, and keep in mind that regulators will be watching closely for unfair shipping practices, say attorneys at Holland & Knight.

  • Dissecting New Circuit Split Over SEC's Proxy Adviser Rule

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    The Sixth Circuit recently upheld the U.S. Securities and Exchange Commission's partial rescission of enhanced conflict-of-interest disclosure requirements for proxy voting advice businesses, creating a circuit split over broader questions concerning the standard for assessing the legality of agency actions in general, say attorneys at Cahill Gordon.

  • Federal Salary History Ban's Reach Is Limited

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    Though a newly effective Office of Personnel Management rule takes important steps by banning federal employers from considering job applicants' nonfederal salary histories, the rule's narrow applicability and overconfidence in the existing system's fairness will likely not end persistent pay inequities, says Margaret House at Kalijarvi Chuzi.

  • Call For Input Shows How Banks, Fintechs Can Address Risks

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    A recent request for information by federal banking regulators suggests that watchdogs are zeroing in on the bank-fintech partnerships they have long perceived as risky to consumers, but analyzing the publication can help companies anticipate regulators’ chief concerns and take steps to avoid becoming enforcement targets, say attorneys at K&L Gates.

  • NYC Hotel Licensing Law's Costs May Outweigh Its Benefits

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    A hotel licensing bill recently approved by New York's City Council could lead to the loss of many nonunionized hotels that cannot afford to comply, says Stuart Saft at Holland & Knight.

  • E-Discovery Quarterly: Recent Rulings On Metadata

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    Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.

  • How New OCC Priorities Will Affect Bank Compliance

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    With the Office of the Comptroller of the Currency recently releasing a new bank supervision plan for fiscal year 2025, all banks, not only those primarily supervised by the OCC, should consider how compliance with its guidelines creates opportunities and challenges, says Andrew Karp at Cadwalader.

  • Parsing SEC's Emerging Trend Of Section 204A Enforcement

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    The U.S. Securities and Exchange Commission recently settled with Sound Point Capital Management for violating Section 204A of the Investment Advisers Act, adding to a slew of charges against investment advisers that allegedly failed to safeguard material nonpublic information, say attorneys at Cozen O'Connor.

  • Comparing Antitrust Outlooks Amid Google Remedy Review

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    As the U.S. Justice Department mulls potential structural remedies after winning its recent case against Google, increased global scrutiny of Big Tech leaves ex post and ex ante antitrust approaches ripe for evaluation, say Nishant Chadha at the Indian School of Business and Manisha Goel at Pomona College.

  • Website Accessibility Ruling Leaves Circuit Split Unresolved

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    A New York federal court's recent decision in Mejia v. High Brew Coffee, holding that stand-alone websites are not "public accommodations" subject to the Americans with Disabilities Act, further complicates a long-running circuit split on this question — even as courts are burdened with thousands of similar lawsuits, say attorneys at Mandelbaum Barrett.

  • SEC Rulemaking Radar: The View From Election Day

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    The U.S. Securities and Exchange Commission seems poised to tackle many of the remaining items on its most recent Regulatory Flexibility Agenda by early 2025, despite the presidential election and the potential for a new chair to be nominated soon, say attorneys at Goodwin.

  • Why Secured Lenders Must Mind The Gap In UCC Searches

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    If not adequately addressed, the Uniform Commercial Code filing indexing gap can interfere with a lender's expected lien priority, but taking appropriate preclosing actions and properly timing searches can eliminate this risk, says Robert Wonneberger at Barclay Damon.

  • What FTC's 'Bitcoin ATM' Report Tells Us About Crypto Scams

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    The Federal Trade Commission's recent insights into bitcoin ATM scams highlight the technical evolution of fraudsters, the application of old scams to new technology, and the persistent financial impact on victims, say attorneys at DLA Piper.

  • What New Int'l Treaty Means For Global AI Regulation

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    Lawyers at Bird & Bird consider how global artificial intelligence regulation will be affected by the first international AI treaty recently signed by the U.S., EU and U.K., as well as its implications for business and several issues that stakeholders should be aware of.

  • How The Presidential Election Will Affect Workplace AI Regs

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    The U.S. has so far adopted a light-handed approach to regulating artificial intelligence in the labor and employment area, but the presidential election is unlikely to have as dramatic of an effect on AI regulations as it may on other labor and employment matters, say attorneys at Littler.

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