The U.S. Securities & Exchange Commission (SEC) is showing a high interest in regulating the usage of Artificial Intelligence (AI) within the financial services sector. According to a recent client alert issued by Mintz, this attention is primarily focused on the proposed regulations for conflicts of interest relating to AI, predictive data analytics, and similar…
API Financial Solutions, a significant player in the finance sector, recently experienced a security breach that has potentially affected 71,000 consumers across the United States. According to the announced data breach notice, the incident happened as a result of an unauthorized party accessing the company’s computer network. This digital trespassing took place on 29th September,…
In a significant move for the crypto industry, two major cryptocurrency firms are joining forces on stablecoin initiatives. According to a recent press release revealed by BakerHostetler, the issuer of USDC and the Stellar Development Foundation (SDF) relayed that the euro-pegged stablecoin EURC has been successfully launched and is currently live on the Stellar network….
In recent developments, the U.S. Food and Drug Administration (FDA) has taken a more aggressive stance in the regulation of e-cigarettes, particularly focusing on flavored disposable products. In September, the regulatory body issued two significant rounds of warning letters to retailers, manufacturers, and distributors engaged in the sale or distribution of e-cigarette products that are…
In a recent asbestos-related lawsuit, plaintiff Michael Marcus claimed to have developed mesothelioma as a result of working with or in proximity to asbestos-containing products while serving in the United States Navy according to JD Supra. The plaintiff filed charges of design defect and failure to warn against multiple defendants. One of the defendants in…
Significant in-house legal hires have transpired across the corporate domain over the past month. Major corporations such as Hilton, AIG, and the Motion Picture Association have made high-profile appointments to their legal teams. These appointments serve not only as key milestones in the professional journeys of the respective appointees but also signal tactical moves within…
The U.S. Department of the Interior shared details on its eagerly anticipated Five-Year Offshore Leasing Plan, enacted as per the requirements of the Outer Continental Shelf Lands Act, on September 29, 2023. This announcement marks a significant movement in the realm of offshore oil and gas exploitation. The department hasn’t yet disclosed extensive specifics concerning…
An esteemed intellectual property attorney, noted for his specialization in patent prosecution within the technology sector, has recently transitioned his practice to the office of Offit Kurman Attorneys At Law based in the suburbs of Philadelphia. The move marks a significant new chapter in the attorney’s illustrious career, further bolstering the robust legal team at…
In a decision set to provoke some debate among the legal community, a Pennsylvania State Judge’s “unfriendly behavior” toward a diabetic attorney, who had suffered injuries in a car accident, has been deemed not to violate the Americans with Disabilities Act (ADA). The federal judge involved dismissed the attorney’s claim that the state judge’s comments…
In a noteworthy legal development, Starbucks Corporation has successfully had a complaint aimed at its Diversity, Equity, and Inclusion (DEI) initiatives dismissed by a Washington federal judge. The advocacy group’s challenges against these policies were strongly opposed by the judge, signaling a crucial victory for the global coffee company. The advocacy group, whose identity remains…
Squire Patton Boggs is broadening its presence in the Middle East, announcing on Monday its expansion into Beirut, Lebanon. This distinguishes the firm as the only international player with a standalone presence in the country, as other global firms have typically partnered with local affiliates. The move into Lebanon is part of a continued effort…
The industry has seen a unique buying opportunity for multifamily properties being developed in recent times. To the delight of owners and investors, prior to 2022, multifamily operators have been taking advantage of record low interest rates to make acquisitions across the United States. Unquestionably, this new financing environment has presented a unique state of…
As legal professionals working in some of the world’s biggest corporations and law firms, it’s important to understand the implications of a government shutdown on employers. The U.S. government is facing a potential shutdown, with federal appropriations set to expire at midnight (ET) on Saturday, September 30. If lawmakers can’t agree to a spending plan…
The first summary judgment ruling on the fair use of copyrighted material for training generative artificial intelligence (AI) models has recently arrived with the case of Thomson Reuters Enterprise Centre GmbH v. ROSS Intelligence Inc. This significant legal case provides preliminary insights into how an appellate judge might perceive crucial generative AI copyright issues. Established…
The Securities and Exchange Commission (SEC) recently launched its inaugural enforcement actions against non-fungible token (NFT) issuers. The consequential measures involve cease-and-desist orders, penalties, and other remedial actions, positioning NFTs as investment contracts and accusing both issue agencies of unregistered security offerings which infringe upon Section 5 of the Securities Act of 1933. These actions…
California has been at the forefront again, having implemented a set of fresh regulations that stand to markedly redesign the criminal background check process employed by employers for California applicants and employees. These changes were put into action beginning October 1, 2023 and seek to expand the California Fair Chance Act. Outstanding questions have arisen…
Finnegan Henderson Farabow Garrett & Dunner LLP, a top-tier intellectual property law firm, has announced the return of two of its former practitioners to its Boston and Washington, D.C., offices. The lawyers, both renowned for their work in intellectual property litigation, were initially part of the firm’s successful practice team and are set to rejoin…
The Massachusetts House and Senate recently signaled approval for a tax relief bill, now awaiting Governor Maura Healey’s final action by October 8th. This arrives in the wake of over 20 years since the last notable tax reduction in Massachusetts was voted into effect, a measure that curbed the Commonwealth’s income tax rate down to…
In a significant update to the city’s employee rights legislations, the New York City Department of Consumer and Worker Protection (DCWP) announced the adoption of a Final Rule concerning amendments for certain sections of the Earned Safe and Sick Time Act (ESSTA). The information was made public on September 15, 2023, and employers will be…
On July 21, 2023, the Fifth Circuit Court of Appeals came to a pioneering conclusion about the actions of the Commodity Futures Trading Commission’s Division of Market Oversight (DMO). A three-judge panel declared that the DMO possibly displayed arbitrary and capricious behavior, potentially breaching the Administrative Procedure Act. This attack was directed at the DMO’s…
In a notable ruling, a New York Administrative Law Judge (“ALJ”) affirmed the denial of a Clean Air Act Title V permit renewal for Greenidge Generation, LLC (“GGL”). The company had applied to renew a Title V air permit for the continued functioning of a natural gas-fired electric generating facility in the Town of Torrey,…
As law professionals and corporates, it is vital to keep up with the changing landscape of regulations in the banking sector. Recently, the UK Government has made strides to adapt the bank ring-fencing reforms under the umbrella of the Edinburgh Reforms. On 28th September 2023, HM Treasury revealed additional documentation regarding this impending reform—several aspects…
On September 27, 2023, the U.S. Securities and Exchange Commission’s (SEC) Division of Corporation Finance made an important announcement. Nine new Compliance and Disclosure Interpretations (C&DIs) were released by the team, aiding in the clarification of pay versus performance (PVP) disclosure requirements. These interpretations are linked to the guidelines outlined in Item 402(v) of Regulation…
The Federal Aviation Administration (FAA) recently announced the opening of a $300 million funding pool, designed to support the aviation sector in achieving net-zero emissions by 2050. The funding is being made available through the Fueling Aviation’s Sustainable Transition Sustainable Aviation Fuels (FAST-SAF) infrastructure scheme. The FAA states that $245 million of this funding package…
The Securities and Exchange Commission (SEC) has proposed adjustments to the EDGAR Filer access and account management policies, as indicated by a recent publication from Seward & Kissel LLP, accessible here. The proposed amendments would require entities that make filings with the SEC using the EDGAR system, including investment advisers making Form 13F and Form…