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Compliance
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September 24, 2024
Senators Spar Over Abortion Bans Where 'Docs Play Lawyer'
Republican and Democratic senators on Tuesday grappled with whether some states' abortion bans conflict with a federal emergency care law and whether exceptions under those bans put doctors in situations where they must decide between a prison sentence or providing emergency stabilizing care.
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September 24, 2024
DOJ Accuses Visa Of Monopolizing Debit Card Market
The U.S. Department of Justice accused Visa on Tuesday of illegally maintaining a monopoly over debit card networks by using its dominance to thwart competition from new and existing rivals, as the Biden administration continues its push to combat high prices using antitrust law.
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September 24, 2024
Miller & Chevalier Adds Federal Tax Expert From White & Case
Miller & Chevalier Chtd. announced that it added a former partner at White & Case LLP to its tax controversy and litigation practice.
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September 24, 2024
SEC, CFTC Issue $118M Fines In Latest Text Message Actions
Federal regulators said Tuesday that the Canadian Imperial Bank of Commerce and nearly a dozen other financial firms have agreed to pay fines totaling nearly $120 million to settle recordkeeping violations tied to employee use of unapproved communication methods like text messages to conduct business.
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September 24, 2024
Do GCs Even Know Company's AI Use? Survey Raises Doubts
Top legal officers appear badly misaligned with other executives or are misinformed on the use of artificial intelligence at their companies, especially in the human resources area, according to a new survey released Tuesday.
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September 23, 2024
Albertsons Says Wash. AG 'Cherry-Picked' Merger Fears
Counsel for Albertsons accused Washington regulators Monday of cherry-picking comments from the grocer's CEO hyping Kroger as key competition to bolster the government's case for blocking the merger and overcame the state's objections to introduce emails where the CEO expressed fears about Costco, Walmart and Amazon's ever-expanding reach.
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September 23, 2024
Chamber Says X Ruling Boosts Bid To Nix Calif. Climate Laws
The U.S. Chamber of Commerce and the state of California have filed competing briefs on how a recent Ninth Circuit decision blocking parts of a social media law applies to the state's corporate climate disclosure rules, with the Chamber arguing the ruling reinforces how the latter violate the First Amendment.
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September 23, 2024
3rd Circ. Probes SEC's 'Close To Vacuous' Reply To Coinbase
Members of a Third Circuit panel on Monday pressed the U.S. Securities and Exchange Commission on its brief denial of crypto exchange Coinbase's request for rulemaking around digital assets, digging into how much of an explanation the agency owes the industry about its decision to forego setting rules for now.
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September 23, 2024
Google Executive Says There's No Internal Ad Tech Advantage
A Google executive pushed back Monday on some of the U.S. Justice Department's most important allegations of a conflict of interest in the search giant's control over online display advertising placement technology, arguing that website publishers are in charge of how ads are placed and priced.
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September 23, 2024
Judge Grants Ex-Admiral, Contractors Separate Bribery Trials
The Washington, D.C., federal court agreed on Monday to sever a retired Navy admiral's bribery trial from that of the defense contractors he is accused of steering federal contracts toward.
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September 23, 2024
Crypto Miners Must Keep Fighting SEC's $18M Fraud Claims
A Utah federal judge on Monday refused to throw out the U.S. Securities and Exchange Commission's suit accusing two Utah residents of running an $18 million crypto fraud scheme, rejecting their arguments that the transactions at the heart of the dispute do not involve securities subject to the SEC's regulation.
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September 23, 2024
High Court Enviro Shadow Docket Could Diminish DC Circ.
The U.S. Supreme Court's "shadow docket" is full of pleas from environmental rule opponents who want the justices to overturn D.C. Circuit rulings that allowed the regulations to go into effect, and recent history shows the challengers have some chance for success — but experts say the high court's willingness to step in at this stage risks diminishing lower courts' voices.
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September 23, 2024
John Paul Mitchell Beats Dry Shampoo Benzene Suit, For Now
An Illinois federal judge ruled Monday a putative consumer class action claiming a Paul Mitchell dry shampoo contains cancer-causing benzene didn't sufficiently show an "injury-in-fact" to warrant damages or even that the product contained the carcinogen, but gave the consumers a chance to amend their complaint.
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September 23, 2024
Coinbase Brings On Ex-Citadel Legal Chief With SEC Chops
Coinbase announced on Monday it has hired Ryan VanGrack to serve as its vice president of legal, where he will be overseeing civil litigation, regulatory probes, employment and intellectual property matters for the crypto exchange after spending seven years with Citadel Securities as general counsel.
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September 23, 2024
Calif. Gov. Vetoes Privacy Bill, OKs Social Media Addiction Law
California's governor has refused to enact legislation that would have required browser developers to make it easier for consumers to stop the sale and sharing of their personal information, while approving a bill that will block online platforms from using algorithms to deliver addictive feeds to children without parental consent.
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September 23, 2024
Holland & Knight Lands McDermott FDA Regulatory Pro
Holland & Knight LLP has nabbed a partner from McDermott Will & Emery LLP with extensive experience representing clients in regulatory matters before the U.S. Food and Drug Administration, the firm announced Monday.
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September 23, 2024
Mallinckrodt Brass Can't Avoid Investor Suit Over 2nd Ch. 11
A New Jersey federal judge ruled Monday that senior leaders of drugmaker Mallinckrodt cannot escape a lawsuit brought by shareholders alleging the company tricked them into thinking it had recovered from bankruptcy and would make a $200 million payment to opioid claimants, finding the investors sufficiently pleaded securities law violations.
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September 23, 2024
Feds, SunZia Urge 9th Circ. To Toss Power Line Challenge
The federal government and SunZia Transmission LLC have asked the Ninth Circuit to uphold a lower court decision tossing a suit by a coalition of tribes and conservation groups challenging the government's decision to let the company route a 520-mile power line through cultural and historical sites.
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September 23, 2024
Bipartisan Senate Bill Would Extend Pandemic IG's Life
A bipartisan group of senators introduced a bill Monday to extend the pandemic watchdog five years beyond its March sunset, which the office has been asking for continuously.
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September 23, 2024
EPA Admits Mistakes In Approving New Chevron Chemicals
The U.S. Environmental Protection Agency on Friday told the D.C. Circuit that it overestimated the risk of allowing Chevron Corp. to create new fuel chemicals derived from plastic waste, asking the appeals court to remand the order authorizing the new substances back to federal regulators.
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September 23, 2024
Toyota Accused Of 'Rotten' Forklift Emissions Compliance
Toyota has been misrepresenting the true emissions levels of the engines in its forklifts and construction machinery, leading businesses to believe the engines were far more environmentally friendly than they actually were, according to a proposed class action filed in California federal court.
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September 23, 2024
Adviser To Pay SEC $1.8M Over Temu Parent Co. Short-Selling
Private fund adviser Centerline Investment Management on Monday agreed to pay nearly $1.8 million to settle U.S. Securities and Exchange Commission charges that it illegally short-sold shares of PDD Holdings Inc., the parent of Chinese e-commerce giant Temu, within a restricted period.
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September 23, 2024
CFTC Fines Piper Sandler $2M In Latest Text Messaging Action
The U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission both announced settlements Monday in their ongoing probe into the financial industry's use of personal devices to discuss company business, with the CFTC issuing a fine against a subsidiary of Piper Sandler & Co. while the SEC said that a cooperative investment adviser would not have to pay anything.
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September 23, 2024
Kroger Fights FTC's Bid To Move Constitutionality Case
Kroger is fighting to keep its challenge to the Federal Trade Commission's in-house courts in Ohio federal court, pushing back against the agency's effort to get it paused or moved to Oregon, where the FTC's case against the company's merger with Albertson's is already playing out.
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September 23, 2024
Alito Pauses 5th Circ. Ruling Against Horse Racing Law
U.S. Supreme Court Justice Samuel Alito has pressed pause on a Fifth Circuit ruling that would strip the teeth from a federal law handing horse safety regulation over to a private entity after the appellate court found the law's enforcement provisions to be unlawful delegation.
Expert Analysis
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Election Outlook: A Precedent Primer On Content Moderation
With the 2024 election season now in full swing, online platforms will face difficult and politically sensitive decisions about content moderation, but U.S. Supreme Court decisions from last term offer much-needed certainty about their rights, say Jonathan Blavin and Helen White at Munger Tolles.
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Banking Compliance Takeaways From Joint Agency Statement
Federal bank regulatory agencies’ recent joint statement warning of risks associated with third-party fintech deposit services spotlights a fundamental problem that may arise with bank deposit products that are made through increasingly complex customer relationships, says Tom Witherspoon at Stinson.
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Workday AI Bias Suit Suggests Hiring Lessons For Employers
As state laws and a federal agency increasingly focus on employment bias introduced by artificial intelligence systems, a California federal court's recent decision to allow a discrimination suit to proceed against Workday's AI-driven recruitment software, shows companies should promptly assess these tools' risks, say attorneys at Williams & Connolly.
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6 Considerations To Determine If A Cyber Incident Is Material
The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.
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Opinion
Proposed Law Would Harm NYC Hospitality Industry
A recently proposed New York City Law that would update hotel licensing and staff coverage requirements could give the city commissioner and unions undue control over the city's hospitality industry, and harm smaller hotels that cannot afford full-time employees, says Stuart Saft at Holland & Knight.
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Opinion
Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
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Regulators Are Revamping Use Of Bank Service Company Act
Excerpt from Practical Guidance
Though the Bank Service Company Act was written six decades ago, banks and service providers should be alert to the evolving ways financial regulators are using the law as a tool for scrutinizing bank-fintech partnerships and third-party service providers that could put consumers at risk, say James Bergin and Paul Lim at Arnold & Porter.
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Playing The Odds: Tackling Athlete Gambling Investigations
The rapid rise of sports gambling presents new and unique challenges, so it's important for attorneys to be able to navigate a dynamic web of complex, high-stakes relationships between athletes, the betting public, athletic organizations, sportsbooks and law enforcement — all while under intense public scrutiny, say attorneys at Steptoe.
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Series
After Chevron: What To Expect In Consumer Protection At FTC
Although the Federal Trade Commission's bread-and-butter consumer protection law enforcement actions are unlikely to be affected, the Loper Bright decision may curb the FTC's bolder interpretations of the statutes it enforces, says Mary Engle at BBB National Programs.
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The Ethics of Using Generative AI In Environmental Law
The rapid emergence of generative artificial intelligence tools is challenging environmental lawyers, consultants and government agencies to determine when and how these tools can be responsibly, ethically and productively integrated into their practices to streamline research, predictive analytics and regulatory compliance, say Ahlia Bethea and Pamela Esterman at Sive Paget.
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Managing Credit Card Rewards Programs Amid Scrutiny
Renewed New York and federal interest in consumer protection issues associated with credit card rewards programs presages future regulatory enforcement and attention from plaintiffs attorneys, so issuers should focus on certain categories of consumer complaints and some compliance ambiguities, say Rich Zukowsky and Ella Beres at Davis Wright.
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Carbon Offset Case A Win For CFTC Enviro Fraud Task Force
An Illinois federal court's decision in Commodity Futures Trading Commission v. Ikkurty — earning the CFTC a sizeable monetary award that will likely incentivize similar enforcement pursuit — shows the impact of the commission's Environmental Fraud Task Force, say attorneys at Steptoe.
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RealPage Suit Shows Growing Algorithm, AI Pricing Scrutiny
The U.S. Department of Justice's suit against RealPage for helping fix rental rates, filed last week, demonstrates how the use of algorithmic and artificial intelligence tools to assist with pricing decisions is drawing increasing scrutiny and action across government agencies, and specifically at the Federal Trade Commission and the DOJ, say Andre Geverola and Leah Harrell at Arnold & Porter.
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Whistleblowers Must Note 5 Key Differences Of DOJ Program
The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.
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The Licensure Landscape For Psychedelics Manufacturers
As the need for bulk manufacturing of psychedelic substances grows, organizations aiming to support clinical trials or become commercial suppliers must navigate a rigorous and multifaceted journey to obtaining a license from the U.S. Drug Enforcement Administration, say Kimberly Chew at Husch Blackwell and Jaime Dwight at Promega Corp.