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Compliance
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January 02, 2025
Interactive Brokers Fined $2.2M Over 'Free-Riding' Monitoring
Interactive Brokers LLC has agreed to pay $2.25 million to settle allegations from the Financial Industry Regulatory Authority that the firm failed to detect millions of so-called free-riding transactions in customers' cash accounts.
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January 02, 2025
Amazon Gets Zulily's Antitrust Suit Trimmed, For Now
A Seattle federal judge trimmed a lawsuit brought by now-defunct online retailer Zulily that accuses Amazon of using its monopoly power to shut out competition from other online retailers, tossing conspiracy and state consumer protection law claims, but allowing Zulily to rework its complaint.
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January 02, 2025
Amazon Says FTC Stalling Discovery In Prime Sign-Up Suit
Amazon said the Federal Trade Commission is stonewalling discovery efforts vital to showing that the agency knew a federal law protecting online shoppers from deceptive billing practices was vague, in an enforcement action accusing the e-commerce giant of duping customers onto signing up for Prime subscriptions.
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January 02, 2025
Tempur Sealy Ups Floor Space Promise In FTC Merger Case
Tempur Sealy is increasing its commitments to preserve floor space for rivals' mattresses in Mattress Firm stores, attempting to beat the Federal Trade Commission's merger challenge by extending the current floor space "slot" distribution after a Texas federal judge noted that prior commitments were below current allotments.
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January 02, 2025
Crypto Groups Challenge Decentralized Finance Broker Rule
Three cryptocurrency industry groups have teamed up to challenge a final U.S. Treasury Department rule implementing additional reporting requirements for decentralized finance brokers, telling a Texas federal court that the rule is unconstitutional and could destroy the industry.
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January 02, 2025
Migrant Detentions Violated NY Law, Constitution, Judge Says
A federal judge said Thursday that Suffolk County, New York, violated state law and the Fourth Amendment by detaining hundreds of immigrants past their release dates at the request of U.S. Immigration and Customs Enforcement.
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January 02, 2025
Feds Ask High Court To Unpause Corporate Transparency Law
The federal government is asking the U.S. Supreme Court to lift a Texas judge's injunction against the Corporate Transparency Act, telling the justices in a new application that the 2021 anti-money laundering law's compliance deadlines should take effect while the Fifth Circuit hears the full case.
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January 02, 2025
Crypto Scam Victim Says Fraudsters' Banks Ignore Red Flags
A California man who says he lost nearly a million dollars to a crypto "pig butchering" scam sued the alleged fraudsters and their banking partners, claiming the financial institutions ignored red flags and failed to conduct basic checks that would have revealed the scammers' actual business.
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January 02, 2025
UBS To Pay $1.1M FINRA Fine Over Trade Confirmation Flubs
UBS Financial Services has agreed to pay the Financial Industry Regulatory Authority $1.1 million to settle claims that it failed to meet regulatory requirements for trade confirmations for over a decade.
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January 02, 2025
Ga. County Sues 3M, Daikin To Remove PFAS From Landfill
A Georgia county has filed a lawsuit against 3M Co., Daikin America Inc. and several other manufacturers and users of so-called forever chemicals, alleging the sale and use of the toxic chemicals in carpet manufacturing has caused a "public-health crisis" across the northwestern part of the state.
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January 02, 2025
Mich. Judge Revives U-Visa Seekers' Suit Over Delays
Courts can't compel U.S. Citizenship and Immigration Services to issue work authorizations, but can consider the reasonableness of its processing delays, a Michigan federal judge said Thursday, reversing her dismissal of a proposed class action brought by U-visa petitioners.
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January 02, 2025
IRS, Treasury Float Regs On Excise Taxes For Drugmakers
The IRS and Treasury proposed rules for charging excise taxes to drugmakers that refuse to negotiate drug prices with Medicare under requirements of the 2022 tax and climate law, saying the tax only would apply to manufacturers and importers that initially sell the drugs.
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January 02, 2025
Trump Transition Underway At Key Environmental Agencies
President-elect Donald Trump's landing teams — tasked with aiding the upcoming transition in the White House — are busy gathering information to set the new administration on course to implement its priorities on day one.
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January 02, 2025
Terraform Founder Arraigned In NY, Denies $40B Crypto Fraud
Terraform Labs creator Do Kwon appeared Thursday before a Manhattan federal judge to deny charges that he orchestrated a $40 billion fraud on customers and investors who backed the cryptocurrency platform based on promises that it had real-world viability.
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January 02, 2025
6th Circ. Overturns FCC Net Neutrality Rules
The Sixth Circuit upended the Federal Communications Commission's net neutrality rules Thursday, holding that commercial broadband providers cannot be regulated as telecommunications common carriers.
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January 01, 2025
How Wall Street Regulators May Adapt To Trump's Return
The incoming presidency of Donald Trump is likely to upend some Biden-era policies at the U.S. Securities and Exchange Commission, leaving proposed rules on climate and artificial intelligence in the lurch while its sister agency, the U.S. Commodity Futures Trading Commission, could be given more authority over the cryptocurrency industry.
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January 01, 2025
5 Big Questions For White Collar Enforcement In 2025
White-collar lawyers are bracing for potentially seismic shifts in government enforcement as President-elect Donald Trump returns to the White House with a sweeping new set of priorities and a squadron of tech gurus and political allies to carry them out.
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January 01, 2025
The Top 5 High Court Cases To Watch This Spring
The U.S. Supreme Court justices will return from the winter holidays to tackle major First Amendment questions and several administrative law disputes — all arising from the Fifth Circuit — that could further change how federal agencies promulgate rules and defend them.
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January 01, 2025
The Top Sports & Betting Cases To Keep An Eye On In 2025
The name, image and likeness class action the NCAA settled in 2024 for $2.78 billion was a long time coming and packs a punch that will be felt for years to come. It overshadowed other ongoing, status quo-rocking litigation involving the NFL, NBA, MLB and more. Here, Law360 looks at the top sports and betting cases the legal world will be watching in 2025.
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January 01, 2025
High-Stakes Healthcare Court Battles To Watch In 2025
With pivotal health law cases on the docket in 2025, attorneys will be watching how the incoming Trump administration proceeds in ongoing litigation over abortion care, the Affordable Care Act and the Medicare drug price negotiation program.
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January 01, 2025
Google, Meta In The Antitrust Crosshairs For 2025
The U.S. Department of Justice and the Federal Trade Commission enter 2025 with an unusual distinction on the horizon: Both will spend April in D.C. federal court against technology giants as the DOJ seeks to break up Google and the FTC kick-starts a monopolization trial against Meta Platforms.
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January 01, 2025
Healthcare And Life Science Policies To Watch In 2025
Healthcare and life sciences attorneys will have their eyes on Washington, D.C., in the next few months. They will be keen to understand how a new presidential administration and a new Congress with razor-thin GOP control will approach a bevy of fraught issues.
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January 01, 2025
What Banking Attorneys Are Watching In The Courts In 2025
Lawsuits pushing back on novel state-level consumer protection laws and a host of Biden-era Consumer Financial Protection Bureau regulatory actions are top of mind for financial services attorneys heading into the new year. Here, Law360 previews what's on tap.
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January 01, 2025
'Profound Shift' Forecast For Crypto Enforcement In 2025
The crypto industry is heading into 2025 with hopes that new leadership at federal agencies under President-elect Donald Trump will ease off an enforcement agenda that has pressed issues of where regulatory authority lies and return to a focus on fraud, while federal appeals courts have a chance to establish keystone rulings for the sector.
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January 01, 2025
Crypto Heads Into 2025 Hoping Regulatory Clouds Will Clear
The digital asset industry may be on the verge of a political and regulatory landscape it has long sought as a crypto-friendly executive branch and Congress take their seats in the new year and potentially work to create favorable guardrails for crypto markets and stablecoins.
Expert Analysis
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A Look At SEC, CFTC's Record Year For Whistleblower Awards
Another banner year shows that the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission have developed the gold standard for whistleblower award programs, but a CFTC funding crisis threatens to derail that program's success, say Andrew Feller and Geoff Schweller at Kohn Kohn.
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Green Projects Face States' Foreign Land Ownership Limits
As states impose restrictions and disclosure requirements around foreign investment in agricultural land — in some cases piggybacking on existing federal rules — renewable energy developers and investors must pay close attention to how the rules vary, says Daniel Fanning at Husch Blackwell.
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What 2024 Trends In Marketing, Comms Hiring Mean For 2025
The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.
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The Prospects Of Pa. Gaining Its Own Antitrust Law After 2024
In the only state that does not have its own antitrust law, Pennsylvania's business community's strong opposition to the Pennsylvania Open Markets Act signals a rough road lies ahead for passage of the bill after Republicans retained a narrow majority in the state Senate, say attorneys at BakerHostetler.
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Expect Continuity In 2025 Anti-Money Laundering Policy
The past year has seen a range of anti-money laundering actions from federal financial regulators, and notwithstanding the imminent change from the Biden administration to the Trump administration, continuity may be more prevalent than change in the AML compliance space in 2025, say attorneys at White & Case.
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5 Notable Anti-Money Laundering Actions From 2024
Regulators' renewed interest in anti-money laundering programs in 2024 led to numerous enforcement actions and individual prosecutions in industries like banking, cryptocurrency and gaming, including the blockbuster TD Bank settlement and investigations of casinos in Nevada, says Michael Beckwith at Dickinson Wright.
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Alpine Ruling Previews Challenges To FINRA Authority
While the D.C. Circuit's holding that the Financial Industry Regulatory Authority can't expel member firm Alpine prior to U.S. Securities and Exchange Commission review was relatively narrow, it foreshadows possibly broader constitutional challenges to FINRA's enforcement and other nongovernmental disciplinary programs, say attorneys at Stradley Ronon.
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Wage Whiplash: Surviving A Compliance Roller Coaster
As the transition to the Trump administration causes mounting uncertainty about federal wage and hour policies, employers can transform compliance challenges into opportunities for resilience and growth by taking key steps to comply with stricter state and local requirements, says Lee Jacobs at Barclay Damon.
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Series
Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.
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Strategies For Home Equity Investment Providers In 2025
The home equity investment product market is thriving even amid consumer concerns, regulatory scrutiny and conflicting court decisions, setting the stage for a promising but challenging environment for providers in 2025, say attorneys at Sheppard Mullin.
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Marketing Messages Matter In State AG Consumer Protection
Attorneys general interpret marketing claims far more broadly than many companies may realize, so to mitigate potential risk, businesses should be vigilant about all consumer messaging, including communications that may not traditionally be considered advertising in the colloquial sense, say attorneys at Cozen O'Connor.
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How White Collar Defense Attys Can Use Summary Witnesses
Few criminal defense attorneys have successfully utilized summary witnesses in the past, but several recent success stories show that it can be a worthwhile trial tactic to help juries understand the complex decision-making at issue, says Jonathan Porter at Husch Blackwell.
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Cos. Must Brace For New PFAS Regulations And Litigation
The U.S. Environmental Protection Agency recently proposed adding over 100 per- and polyfluoroalkyl substances to the Toxic Release Inventory — and with increasing scrutiny of PFAS from the states and the plaintiffs bar as well, companies should take steps to reduce risks in this area, say attorneys at Dechert.
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Tips For Employers Facing Looming Immigration Changes
As Trump's second term heralds a challenging period for immigration policy, employers should look to lessons from his first administration as they implement strategies for their global talent programs and communications protocols, says Eileen Lohmann at BAL.
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Opinion
6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.