Compliance

  • February 26, 2024

    Everton Scores Reduced Premier League Penalty After Appeal

    An independent appeal board reduced the penalty against Everton FC for violating Premier League financial rules on Monday, docking the football club six points in the standings after finding that the initial punishment of 10 points was based on faulty legal grounds.

  • February 26, 2024

    FTC Challenges Kroger's $25B Albertsons Buy

    The Federal Trade Commission announced a new, national front Monday against Kroger's heavily criticized $24.6 billion purchase of fellow grocery store giant Albertsons, challenging a deal it said threatens both shoppers and workers and cannot be saved by the planned divestiture of a "hodgepodge" of hundreds of stores.

  • February 24, 2024

    Up Next At High Court: Social Media Laws & Bump Stocks

    The U.S. Supreme Court will hear oral arguments related to three big-ticket cases this week in a pair of First Amendment challenges to Florida and Texas laws prohibiting social media platforms from removing content or users based on their viewpoints and a dispute over the federal government's authority to ban bump stocks.

  • February 23, 2024

    CFPB Subjects Lender To Supervision In 1st Oversight Flex

    The Consumer Financial Protection Bureau said Friday that it has decided to require supervision for one of the nation's largest personal installment lenders, a move that marks the first time the agency has flexed its special risk-based oversight power over a company's objections.

  • February 23, 2024

    SEC Upholds Bar On Ex-RBC Rep Who Cashed Out $1M Error

    The U.S. Securities and Exchange Commission on Friday upheld a disciplinary action against a former RBC Capital Markets LLC representative who was accused of violating his industry's code of conduct when he converted $1 million that his firm accidentally deposited in his personal brokerage account.

  • February 23, 2024

    Netflix, Hulu Don't Owe Franchise Fees, Calif. Panel Rules

    Netflix and Hulu have again beaten a proposed class action from a California city claiming the streaming providers should be regulated like cable companies and pay franchise fees to localities, with a state appeals court ruling the city had no right to private action under a 2006 statute.

  • February 23, 2024

    FCC To Again Start Collecting Broadcast Workforce Data

    The Federal Communications Commission has voted on party lines to start collecting workforce diversity data from the broadcast industry after a more than two-decade hiatus.

  • February 23, 2024

    Google Says Innovation Led To Dominance In Closing Brief

    Google is telling the D.C. federal judge overseeing the U.S. Department of Justice's monopoly case against the search giant that its innovation and relentlessness are the forces driving its dominance in search, not anticompetitive agreements as the Justice Department has alleged.

  • February 23, 2024

    GameStop Can't Ditch Suit Over Data Sharing With Facebook

    A California federal judge has refused to shut down a putative class action accusing GameStop Inc. of unlawfully sharing its customers' personal information with Facebook, ruling that the video game retailer qualified as a "video tape service provider" covered by federal privacy law. 

  • February 23, 2024

    Top NC Labor Brass Face Retooled 'Incentive' Policy Suit

    A corrosion control company has retooled its claims that North Carolina labor officials incentivized inspectors to issue workplace safety citations, highlighting in a revised complaint the harm caused by the citations after its 2021 lawsuit was tossed last month for failing to make a stronger connection to its alleged injuries.

  • February 23, 2024

    Wildlife, Paddling Groups Want To Join Clean Water Act Fight

    The National Wildlife Federation and American Whitewater are asking a Louisiana federal judge to let them join litigation over an updated Clean Water Act rule that expanded states' and tribes' ability to block projects such as pipelines and dams over water quality concerns, to ensure their interests are considered.

  • February 23, 2024

    FTC Rips H&R Block's 'Deceptive' Marketing, 'Coercive' Ploys

    The Federal Trade Commission filed an administrative complaint against H&R Block claiming the tax preparation company deceptively marketed some products as "free" and "coerced" people to pay for pricier products, the government agency announced Friday.

  • February 23, 2024

    CFTC Commissioner Dings Agency's Dodd-Frank 'Rollback'

    U.S. Commodity Futures Trading Commission member Christy Goldsmith Romero has criticized agency staff over a recent decision to give swap dealers a pass on complying with a certain Dodd-Frank-era regulation related to interest rate swap disclosures, saying the move threatens to undermine an important protection against conflicts of interest.

  • February 23, 2024

    Commerce Dept. Partly Waives 'Buy America' For BEAD

    The U.S. Department of Commerce on Friday announced limited waivers from "Buy America" requirements under the agency's $42.5 billion broadband deployment program to make sure that enough advanced components can flow to projects around the country.

  • February 23, 2024

    Judge Won't Reschedule Google's Ad Tech Trial In Va.

    A Virginia federal judge refused a request from Google on Friday to reschedule a slated September trial for the U.S. Department of Justice's ad tech monopolization case, saying the tech giant can overcome a potential timing conflict for its attorneys.

  • February 23, 2024

    BofA Seeks Win In Pa. Vehicle Repossession Class Action

    Bank of America NA has asked a Pennsylvania federal judge to grant it a win in a suit alleging it sent inadequate notice letters to people whose cars it repossessed, arguing that because the car owners admit the notices did not affect their ability to redeem their vehicles, there is no genuine issue in the case.

  • February 23, 2024

    Kraken Wants SEC Suit Tossed, Says Tokens Aren't Securities

    Crypto exchange Kraken on Friday urged a California federal judge to permanently toss claims it failed to register its platform with the U.S. Securities and Exchange Commission since the regulator has not shown that the tokens on its platform are investment contracts.

  • February 23, 2024

    FDIC Slaps Small Tenn. Bank With Fintech Oversight Order

    The Federal Deposit Insurance Corp. on Friday announced a consent order with a small Tennessee bank that stresses the risks of the bank's relationships with third-party fintech companies.

  • February 23, 2024

    NRA, LaPierre Found Liable For Misconduct In $6M Verdict

    A New York jury found Friday that the National Rifle Association, longtime CEO Wayne LaPierre and two other executives improperly used donor money, among other misconduct, ordering individual defendants to repay the gun rights group a total of $6.4 million.

  • February 23, 2024

    Binance Judge Says Greed Overtook Ethics, OKs $4.3B Plea

    A Washington federal judge signed off Friday on Binance's $4.3 billion plea deal on money laundering and bank fraud charges, saying from the bench that the cryptocurrency exchange's ethics violations could not be explained away by mere ignorance. 

  • February 23, 2024

    Ohio Chamber Backs Google In 'Common Carrier' Case

    Ohio's Chamber of Commerce is lining up behind tech behemoth Google in its battle to convince an Ohio court that it is not a common carrier while the state is trying to convince the court that Google is, so it may be banned from preferring its own products in its search results.

  • February 23, 2024

    Feds' Crypto Focus Is No Longer On 'Whack-A-Mole' Cases

    The U.S. Department of Justice is no longer playing "whack-a-mole" in its crypto cases, and instead is taking on large-scale actors in the hopes of encouraging industrywide compliance, veteran crypto-focused prosecutors with the Manhattan U.S. attorney's office said Friday.

  • February 23, 2024

    Insurance M&A Partner From Sidley Joins Kirkland

    Kirkland & Ellis LLP has added a corporate partner in its insurance transactions and regulatory and financial institutions practice groups, bringing on a former Sidley Austin LLP attorney who said he "couldn't be more excited" to join the firm's Chicago office.

  • February 23, 2024

    With Interest, Trump Now Owes $454M For NY Valuation Fraud

    Donald Trump owes New York state nearly a half billion dollars after a county clerk on Friday tacked on $99 million in interest linked to a $355 million judgment in the state attorney general's civil fraud case against the former president last week.

  • February 23, 2024

    Ex-Vitol Oil Trader Convicted On FCPA Rap

    Former Vitol Oil Group trader Javier Aguilar was convicted Friday of Foreign Corrupt Practices Act and money laundering violations, after nearly two months of trial over claims that he bribed officials in Ecuador and Mexico in order to win $500 million in business deals for the global energy and commodities company.

Expert Analysis

  • Navigating ACA Reporting Nuances As Deadlines Loom

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    Stephanie Lowe at Liebert Cassidy walks employers through need-to-know elements of Affordable Care Act reporting, including two quickly approaching deadlines, the updated affordability threshold, strategies for choosing an affordability safe harbor, and common coding pitfalls.

  • Setting The Stage For High Court BofA Escrow Interest Case

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    Dori Bailey and Curtis Johnson at Bond Schoeneck examine relevant legislation and case law dating back 200 years ahead of oral arguments at the U.S. Supreme Court on Tuesday in Cantero v. Bank of America, the outcome of which will determine whether state laws governing mortgage escrow accounts can be enforced against national banks.

  • What To Know About OCC Proposals For Bank Merger Review

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    The Office of the Comptroller of the Currency's proposed changes to the agency's bank merger review process could exacerbate industry concerns with long and unpredictable processing periods because the proposal is ambiguous with respect to how the OCC will view certain transactions, say attorneys at Simpson Thacher.

  • A Cautionary Tale On Hospital-Physician Alignment Structures

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    A $345 million settlement between the U.S. Department of Justice and Community Health Network highlights how quickly hospital and physician alignment relationships can violate legal restrictions on such dealings, and the onerous financial penalties that can ensue, say Robert Threlkeld and Elliott Coward at Morris Manning.

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.

  • Cos. Must Know How NY, Federal LLC Disclosure Laws Differ

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    Though New York state's new LLC Transparency Act and the federal Corporate Transparency Act impose similar beneficial owner reporting obligations on limited liability companies, New York LLCs should study the important differences between the laws to ensure they are prepared to comply with both, say Abram Ellis, Olenka Burghardt and Jane Jho at Simpson Thacher.

  • 5 Lessons For SaaS Companies After Blackbaud Data Breach

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    Looking at the enforcement actions that software-as-a-service provider Blackbaud resolved with state attorneys general, the U.S. Securities and Exchange Commission and the Federal Trade Commission in the past year can help SaaS companies manage these increasingly common forms of data breaches, say attorneys at Orrick.

  • Why Biz Groups Disagree On Ending Chevron Deference

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    Two amicus briefs filed in advance of last month's U.S. Supreme Court oral arguments in Loper Bright Enterprises v. Raimondo highlight contrasting views on whether the doctrine of Chevron deference promotes or undermines the stable regulatory environment that businesses require, say Wyatt Kendall and Sydney Brogden at Morris Manning.

  • SEC Regs Give Banks Chance To Step Up Cyber Safety Game

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    Just as the Sarbanes-Oxley Act forced financial institutions to undertake best practices in recordkeeping, the U.S. Securities and Exchange Commission’s recently effective cybersecurity regulations stand to similarly drive those same enterprises to seek out and implement best practices in cybersecurity, to everyone's benefit, says James Gerber at SimSpace.

  • Opinion

    Oregon Law Would Compromise Management Service Orgs

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    If passed, a proposed Oregon law would materially limit physician corporate practice of medicine structures, causing significant disruption to the provision of medicine and hindering professional corporations' ability to focus on the clinical components of their practice, say Christina Bergeron and William Shefelman at Ropes & Gray.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

  • How DOD Can Improve Flexibility Under Proposed Cyber Rule

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    The U.S. Department of Defense should carefully address some of the more nuanced aspects of the Cybersecurity Maturity Model Certification program to avoid unintended consequences, specifically the proposal to severely limit contractor use of plans of actions and milestones, say Joshua Duvall at Maynard Nexsen and Sandeep Kathuria at L3Harris Technologies.

  • Reassessing Trade Secrets Amid Proposed Noncompete Ban

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    The Federal Trade Commission's proposed ban on noncompete agreements as well as state bans make it prudent for businesses to reevaluate and reinvigorate approaches to trade secret protection, including knowing what information employees are providing to vendors, and making sure confidentiality agreements are put in place before information is shared, says Rob Jensen at Wolf Greenfield.

  • Predicting DeFi Regulations At Home And Abroad In 2024

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    Though decentralized finance has advocates on both sides of the Atlantic in figures like U.S. SEC Commissioner Hester Peirce and U.K. Prime Minister Rishi Sunak, DeFi in 2024 seems likely to be folded into existing regulatory frameworks in the U.K. and EU, while anti-crypto scrutiny may discourage DeFi’s growth in the U.S., say Daniel Csefalvay and Eric Martin at BCLP.

  • Opinion

    Exxon Court Should Clarify Shareholder Proposal Exclusion

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    ExxonMobil last month took the unusual action of asking a Texas federal judge whether a proposal from climate activists seeking to limit oil and gas sales could be excluded from its 2024 proxy statement, and the court should use this opportunity to reevaluate SEC policy and set clear limits on when shareholder proposals can be included, says Stephen Bainbridge at UCLA School of Law.

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