The Consumer Financial Protection Bureau (CFPB) recently published its 2023 biennial report as mandated by the Credit Card Accountability Responsibility and Disclosure Act (CARD Act). The report marks the sixth instance of the bureau’s biennial examination into the state of the consumer credit card market. This was reported by Davis Wright Tremaine LLP on JDSupra….
The U.S. Court of Appeals for the Federal Circuit recently brought the doctrine of “analogous prior art” into the spotlight, a notable point of contention in patent law, highlighting its fundamental role in determining whether a patent can be ruled as obvious over previous art. The implications of this doctrine and its correct application can…
In a remarkable development, Neurovalens, a notable health tech industry player, has gained 510(k) clearance from the US Food and Drug Administration (FDA) for Modius Sleep, its groundbreaking product geared towards the treatment of insomnia and/or anxiety. The clearance, recorded on October 27, 2023, was backed by the results of a pivotal Phase III clinical…
The Corporate Transparency Act (CTA), which forms part of the Anti-Money Laundering Act of 2020, has enacted a new requirement for certain business entities, colloquially referred to as “Reporting Companies,” to disclose beneficial ownership information (BOI) to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). The requirements of this monumental act officially took…
In the realm of corporate law, it’s no secret that ranking up in the law firm hierarchy is a significant achievement. From elevating to a partnership to attaining a practice group chair, these are milestones that come packaged with a bevy of newfound responsibilities and, of course, well-earned acclaim. Quite fittingly, legal news outlet Law360…
A substantial development in the domain of California’s environmental laws and policies took place recently, garnering considerable attention from stakeholders. The spotlight centered around California’s water storage capacity, which achieved a significant milestone with the finalization of plans for the Sites Reservoir in Northern California. This news is particularly important to the legal professionals in…
In an unprecedented move, the Securities and Exchange Commission (SEC) brought about a suit against SolarWinds and its Chief Information Security Officer (CISO) this week. The action draws repercussions from new SEC regulations titled ‘Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public Companies’, issued on July 26, 2023. The suit alleges…
On Monday, November 6th, SCOTUSblog selected a short list of noteworthy entries that provide insights into recent developments surrounding the Supreme Court. Its daily round-up offered a curation of articles, commentary, and other related content. The highlight of the reading list was a crucial gun rights case that had reached the Supreme Court. The USA…
In an era marked with rising healthcare costs and the challenge of managing multiple point solutions, it’s particularly interesting to note what excites healthcare executives within the sector of the employer-sponsored insurance. Areas such as value-based care and data dominate discussions as we move towards an evolving future of employee benefits. This was the focus…
In November 2017, the world was shocked as white supremacists paraded through the streets of Charlottesville, Virginia, protesting the removal of a Confederate statue. The peaceful counter-protests the following day were marred by an egregious act of violence when a self-proclaimed white supremacist deliberately drove his car into the crowd, leading to the death of…
The cryptocurrency industry is facing one of its most consequential trials yet, following the criminal conviction of renowned entrepreneur Sam Bankman-Fried on seven counts of fraud and conspiracy, as reported by eminent journalists Emily Nicolle, Allyson Versprille, and Michael P. Regan on Bloomberg Law. Following the downfall of his FTX crypto empire, Bankman-Fried claimed to…
The recent enforcement actions taken by the Securities and Exchange Commission (SEC) in September have underscored the necessity for all corporations to revisit their existing employee agreements, and to pay particular attention to possible violations of the SEC’s whistleblower protection rule. This trio of enforcement actions not only serves as a warning bell but also…
In the field of energy and sustainability, one company, in particular, has been making waves with its recent financial activities. This month, our spotlight shines on Activate Capital, a firm that focuses exclusively on innovative technology companies embarking on transformative journeys under the leadership of progressive entrepreneurs. By investing in ground-breaking future platforms, Activate Capital…
In an unprecedented move, the Division of Examinations (Division) of the US Securities and Exchange Commission (SEC) released its examination priorities for the 2024 fiscal year earlier than typical, on 16 October 2023, according to K&L Gates LLP on JD Supra. These examination priorities were introduced just eight months after the Division disclosed its 2023…
In a recent development, a much awaited directive related to the SECURE 2.0 requirements of the IRS has been provided. The requirements indicate that make-up contributions for high-income participants in 401(k), 403(b), and governmental 457(b) plans need to be made as Roth contributions. The long-awaited directive, Notice 2023-62, offers a 2-year administrative transition period. This…
A group of 13 state attorneys general from various regions have recently delivered a comment letter to the U.S. Department of Transportation. Their communication expresses support for the proposed rule changes intended to bridge the informational chasm between railroad operators and first responders in instances where hazardous materials are involved. As reported recently, this development…
A recent decision by the London High Court to annul an $11 billion arbitral award is casting a spotlight on some of the potential pitfalls in the international arbitration landscape. The overturned sum points to allegations of corrupt practices, a development that has raised a myriad of questions regarding the general credibility and trust that…
An important legal development unfolded in Connecticut recently where a federal magistrate judge granted final approval for a class settlement. The settlement will provide $50,000 each to 129 individuals who maintained they were abused within a Catholic diocese now in bankruptcy. It was alleged that legal solutions company Epiq exposed their identities amid the diocese’s…
In a major legal development related to consumer rights and anti-discriminatory practices, the Federal Trade Commission (FTC) and the Wisconsin Department of Justice recently announced a settlement with a major Wisconsin auto dealer group. The settlement follows a lawsuit brought under the FTC Act, the Equal Credit Opportunity Act (ECOA), the Wisconsin Deceptive Trade Practices…
In the midst of a rapidly evolving environment marked by shifts in privacy laws and a surge in related litigation, renowned member of the defense bar, Sean M. Buckley, underlines the urgent need for the corporate sector to assess their compliance. This call to action is, in large part, a reaction to the rising tide…
The Federal Communications Commission (FCC), under the leadership of Chair Jessica Ronsenworcel, recently unveiled a proposed directive aimed at examining the expanding role of artificial intelligence (AI) in robocalls, with a particular emphasis on those exploiting elderly individuals. To delve into this issue further, the proposal is due to be discussed at the upcoming November…
As we journey into another bonus season, legal professionals across the globe are curious about what they can expect. With a particular spotlight on Biglaw firms, many are anxious to see how these corporations handle their bonus payouts, especially those firms that have previously made layoffs. In a recent discussion within the industry, California legal…
In the recent edition of Law360’s Legal Lions, the spotlight was on Knobbe Martens, as the firm led the pack with a significant win. The U.S. International Trade Commission brought down the hammer, barring the importation of the widely popular Apple Watch. The decision lands on the heels of a determination that the device infringes…
A recent lawsuit against Meta Platforms Inc. has raised serious questions about the potential risks and harms of the social media platform Instagram, particularly for its younger users. This case, brought before the Vermont Superior Court Chittenden Unit by the Vermont attorney general, along with other states, likens the company’s promotion of targeted ads to…
In a significant legal development, the Colorado Department of Insurance has ushered in a new regulation centered on insurers’ use of artificial intelligence models. With this, Colorado has taken a lead in tackling race-based discrimination through AI. The rule is likely to be emulated by other states, given the nationwide repercussions of such advanced regulatory…