Attracting business and investment into the bustling Northern Virginia region has become a key talking point among legal and economic commentators. This suburban area outside of D.C. is seeing a dynamic influx of corporate entities, a sharp contrast to trends focused primarily on central business districts. Recently, the executive vice president of Fairfax County Economic…
In a rapidly evolving legal landscape, forging rock-solid attorney-client relationships has become paramount. The latest example of effective relationship-building approaches stems from a collaborative discussion between Wilson Sonsini corporate partner Craig Sherman and Bungie General Counsel Don McGowan, hosted by Mary O’Brien on JDSupra. In the converstation, they delve into crucial topics including career trajectories,…
On October 31, 2023, the Department of Labor (DOL) disclosed its proposed “Retirement Security Rule”, which intends to redefine the parameters for who qualifies as an investment advice fiduciary under the Employee Retirement Income Security Act (ERISA). The fiduciary status is of crucial consideration, due to its centrality in many ERISA-related protections, liabilities, and obligations….
US Court of Appeals Judge Edith Jones voiced concerns over what she labeled as “great moral confusion” among student protesters and other demonstrators in the US, particularly those criticizing Israel’s response to the October 7 attack by Hamas. Speaking at a conference held by the Federalist Society, a conservative organization, Jones expressed her belief that…
The New York Department of Financial Services (NYDFS) has officially finalized its Second Amendment to its Cybersecurity Regulation. This marks another important stage in the continuing evolution of the regulatory landscape for cybersecurity in one of the world’s major financial hubs. The amendment was brought to the attention of the legal community by privacy, cyber,…
The U.S. Court of Appeals for the Fifth Circuit has decided to rehear a notable gerrymandering case from Galveston County, Texas, en banc. In this context, en banc refers to the full bench of judges from the Fifth Circuit, who will assemble to rehear arguments. The central issue of this case circles around an alleged…
In such times with the surge in cybercrimes, the health care sector has remained a consistent primary target for hackers, particularly data breaches. The recently published 2023 IBM Security Cost of a Data Breach Report underscores this pressing issue, showing that cyberattacks persisting in the health care industry still lead the most costly remediation list…
Asset management firms operating in multiple countries have generally adapted to the varied set of regulatory requirements that each jurisdiction imposes. However, the ever-evolving regulation of environmental, social and governance (ESG) investing strategies is presenting uniquely difficult burdens. Not only do investor demands differ across borders, but the regulators and other controlling bodies have imposed,…
In an ever-volatile financial market, corporations and law firms must have a solid understanding of differing loan structures. Two types of loans that feature predominantly are recourse and non-recourse loans. The most notable differences between these loans concern borrower liability, lender’s rights, and collateral requirements. Each loan type presents unique advantages and potential challenges that…
The trend of divorce over the age of 50, often referred to as “gray divorce,” has seen a noticeable increase in recent years. This phenomenon isn’t reserved only for those with gray hair, but applies to any individual over 50 seeking a divorce. The reasons behind this surge are yet to be fully understood, with…
If you’re among the legal professionals who haven’t yet ascended to Milbank’s salary heights, you’re not alone. An article from Above the Law provides a window into some significant trends and occurrences within the legal industry. The first narrative talks about a case involving Michigan Football, where a fan’s legal strategies were intercepted, raising questions…
In response to a recent FBI raid on the home of 25-year-old campaign staffer Brianna Suggs, New York City Mayor Eric Adams has sought legal representation from a top-tier law firm. While the exact identification of the Biglaw firm remains currently undisclosed as public information, the firm is notable for its association with the mayor’s…
The US Court of Appeals for the Fifth Circuit recently ruled that the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) lacked authority to enforce a final rule aimed at regulating “ghost guns.” These “ghost guns” are essentially weapons parts kits that one can assemble into a firearm without having to register it. This case…
The complexities of the “Shadow Trading Case” orchestrated by the Securities and Exchange Commission (SEC) against Panuwat have consistently caught the attention of legal professionals worldwide since its inception in February 2022. The case gains notoriety as the SEC’s first enforcement action grounded on “shadow trading” practices, a yet unchartered territory within the securities enforcement…
The first week of November 2023 has seen significant developments in the telehealth sector. Both state legislation and regulatory changes are making their mark on healthcare providers, digital health companies, telehealth organizations, pharmacists, and technology firms that facilitate the delivery of virtual care. A detailed analysis of these changes and their impact on the sector…
The Bletchley Park AI Safety Summit 2023, a noteworthy gathering of countries and key entities, illustrated the increasing awareness and concern countries have towards the implications of expanding artificial intelligence (AI) technologies. During the first day of the summit, the ‘Bletchley Declaration’ was concluded. Twenty-eight countries and the European Union pledged their endorsement towards this…
On October 23, 2023, the Food and Drug Administration (FDA) released a new draft guidance that signals an important shift in communications between firms and health care providers. The new communication guidelines center around scientific information on unapproved uses of approved/cleared medical products. The 2023 Draft Guidance is positioned as an update to the FDA’s…
In a rapidly changing legal landscape, recent events underscore the increasing relevance artificial intelligence (AI) regulations have on both national and international stages. Last week, several significant changes in AI regulation efforts came to the forefront, highlighting an urgent need for private and public sectors to adapt in real-time. Most notably, President Joe Biden issued…
On November 1, 2023, the New York Department of Financial Services (NYDFS) amended Part 500: the cybersecurity regulation that oversees financial services companies. These updates arrive in the aftermath of several enforcement actions by the NYDFS and amidst an evolving regulatory landscape regarding cybersecurity. The NYDFS amendments follow closely on the heels of other recently…
A recent study by the U.S. Department of Energy (DOE) asserts a pressing requirement for increased transmission infrastructure in America. Known as the National Transmission Needs Study (Needs Study), the study’s conclusions indicate that this necessity is anticipated to rise significantly due to a shift towards renewable energy generation and the escalating frequency of cataclysmic…
In the legal sphere, AI developments continue to pique interest and provoke questions. A notable recent case is Thomson Reuters v. Ross Intelligence, where AI training methods raised eyebrows and prompted legal scrutiny. The crux of the case pitted copyright concerns against technological innovation, illuminating the challenges courts face in the rapidly evolving world of…
The UK legal landscape has witnessed a pivotal development with the enactment of the Economic Crime and Corporate Transparency Act. Receiving Royal Assent on October 26th, the Act signifies a major evolution in the mechanism of corporate criminal liability in the UK. The new Act, keenly awaited by legal and corporate circles, has been primarily…
The New York Independent System Operator’s (NYISO), in compliance with FERC Order No. 2023, has submitted a second partial compliance filing on November 3. The filing, which sheds light on the NYISO’s continuing adherence to the federal regulation, was carried out in line with the ongoing monitoring of its compliance. In addition to the filing,…
On November 6, 2023, a proposed rule was issued by the Centers for Medicare & Medicaid Services (CMS), marking significant developments in the policies and technical changes projected to come into effect for Contract Year (CY) 2025. This rule is primarily aimed at the Medicare Advantage (MA) and Medicare Prescription Drug Benefit Programs. The proposed…
As the cryptoasset landscape continues to burgeon and garner global attention, the UK government is not pressing pause in its quest to streamline and bolster its regulatory framework for this nascent sector. On October 30, 2023, the UK’s HM Treasury (HMT) unveiled an eagerly-awaited response (the Consultation Response) to a consultation paper issued in March…