A few days ago, the Central District Court handed down its ruling in the lawsuit filed by Aviad Concrete and Clay Industries against Nesher Israel Cement Enterprises. The suit concerned Nesher’s rebate policy to its customers, which… more

Defining the role of inherent risk in cybersecurity - Inherent risk is a concept that while fundamental to cybersecurity, has largely been disregarded by popular cybersecurity risk guidelines and standards and remains arcane to the… more

Recent Supreme Court administrative law rulings change the power dynamic between the executive and the judiciary in critical areas of statutory interpretation, enforcement, and immunity from legal challenge… more

The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on June 28, 2024, announced a proposed rule to "strengthen and modernize financial institutions' anti-money laundering and countering the financing of… more

This blog post is the first in a series on common ethical challenges that arise when preparing for and conducting depositions. Social media offers such a wealth of details about a person’s circumstances and beliefs that lawyers would… more

Environmental regulations, including those under the California Air Resources Board’s (CARB’s) jurisdiction, present a complex compliance challenge for vehicle fleet managers and operations departments across the country… more

The European Union Artificial Intelligence Act (the AI Act) was published on 12 July 2024 in the European Union Official Journal and will enter into force on August 1, 2024. The AI Act is one of the most keenly anticipated pieces of… more

Recently, FINRA accepted a letter of acceptance, waiver and consent from a brokerage firm to settle alleged rule violations. The settlement concerns a series of unauthorized Automated Clearing House (ACH) transfers from a senior trust… more

On July 9, 2024, the CNIL launched a public consultation on a draft recommendation (“Draft Recommendation”) on measuring diversity in the workplace. While measuring diversity is an important indicator in the fight against… more

As we predicted here, the Consumer Financial Protection Bureau (CFPB or Bureau) last week proposed new and, in some cases, streamlined rules governing what mortgage servicers must do after a borrower becomes delinquent. The proposed… more

PS10/24, implementing reforms to the UK’s Solvency II regime for matching adjustment portfolios, came into force on June 30, 2024. The reforms aim to increase investment flexibility and provide a wider range of options for insurers to… more

Ahead of Euro 2024 final on Sunday, in the third blog in our series focusing on the tournament, and as promised in our last edition we turn our attention to the use of VAR in the competition. Already a source of controversy in the… more

As we previously reported, here, the Federal Trade Commission (FTC) issued a Final Rule on April 23, 2024 that would prevent most employers from enforcing non-compete agreements against workers, effective September 4, 2024 (the… more

On May 22, 2024, the California Air Resources Board (CARB) unveiled a high-level framework for what is known as “TRU Part 2” to eliminate carbon emissions created by refrigerated equipment utilized in the transportation of freight… more

The U.S. District Court for the District of Delaware recently issued a protective order settling a dispute over the scope of a proposed prosecution bar. Aerin Medical Inc. v. Neurent Medical Inc., No. 23-756, Dkt. Nos. 66, 68 (D. Del… more

In Texas and nationally over the past 15 years we have seen a higher number of condominium projects being developed. The reasons vary, but include a desire for greater density as a means to accommodate higher land prices and/or… more

On July 5, the California Privacy Protection Agency (CPPA) published a Notice of Proposed Rulemaking regarding Data Broker Registration pursuant to Senate Bill 362 (the Delete Act). The Delete Act requires the CPPA to establish an… more

Suffice it to say that the past year has been a very good year for brokers; in the courts, that is! While there have been several very favorable preemption decisions across the country, the preemption doctrine is not universally… more

Senate HELP Committee Holds Hearing on Medical Debt. The hearing examined the negative impacts of medical debt and explored potential solutions to address the growing issue. Senators and witnesses highlighted the disparity between the… more

On July 10, the CFPB announced proposed rules for mortgage servicers, aimed at helping homeowners avoid foreclosures. The new rules, which would modify RESPA and Regulation X’s existing mortgage servicing framework, are designed to… more

Private Nutzung von Internet und E-Mail am Arbeitsplatz: Endlich mehr Sicherheit für Arbeitgeber? Nach bisheriger Auffassung der deutschen Datenschutzbehörden ist der Arbeitgeber bei gestatteter Privatnutzung von Internet und… more

On 14 May 2024, ESMA published its final guidelines on funds’ names using ESG or sustainability-related terms (the Guidelines). As a result, the use of certain environmental, social and governance (ESG) or sustainability-related… more

The digital revolution has transformed the banking industry. As financial services and associated communications move online, it is more important than ever for institutions to manage and control their online presence… more

AT&T Inc. announced in a July 12, 2024, SEC filing that hackers stole a cache of six months’ worth of mobile phone customer data, illegally downloading the records from a workspace account at the cloud-service provider Snowflake Inc… more

Recently, the SEC released its complaint against a digital platform that acted as an unregistered broker and seller of crypto-asset securities transactions. The SEC alleges that since 2020 the platform brokered over 36 million… more

On July 11, 2024, the CFPB filed Respondent’s Motion for the Immediate Issuance of the Mandate. In the motion, the CFPB states that they do not plan to seek a rehearing before the same Fifth Circuit or En Banc and requests the Fifth… more

On June 28, 2024, SCOTUS overturned the long-standing Chevron doctrine in its decision Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce. The Court’s ruling will have a significant impact on industries… more

The Situation: The European Union ("EU") banking legislation has been substantially reviewed and provides notably for a new regime applicable to cross-border activities from non-EU jurisdictions… more

The Court of Appeal has held that a party who prevents a condition precedent to their obligation to pay from being met cannot rely on the unfulfilled condition to escape their liability in debt… more

Minnesota employers should be aware of several new employment laws that were included in the Omnibus Labor and Industry Policy bill and Omnibus Tax bill that were signed into law at the end of May, just before the close of the 2024… more

Chemical hair straighteners are popular products sold in stores and hair salons across the United States. But, they are also dangerous. Over the past few years, there have been several reports of these products being linked to users’… more

As discussed here, on February 3, 2023, an Illinois federal court dismissed a case brought by the Consumer Financial Protection Bureau (CFPB or Bureau) in 2020 against Townstone Financial, Inc., a Chicago mortgage lender, for alleged… more

Welcome to this edition of Credit Conditions, a quarterly publication from McDermott Will & Emery that analyzes recent debt market trends. Key Debt Market Trends - Interest Rates - “Start your engines” has shifted to “hold your… more

Health providers and consumers increasingly rely on the internet for health and medical-related information, but not all such information is reliable, and many statements are downright false. The proliferation of social media allows… more

On June 12, the Office of Management and Budget (OMB) published a notice in the Federal Register announcing its review of the Standard Occupational Classification (SOC) and asking for public comment… more

On 24 June 2024, the European Union adopted its 14th sanctions package against Russia since its invasion of Ukraine in 2022. This package introduces a number of targeted measures on the Russian LNG sector. It also strengthens existing… more

A monumental victory for the Swinomish Indian Tribe was announced this spring when a judge in the Western District of Washington ordered BNSF Railway Company to pay nearly $400 million in profits damages to the Swinomish Indian Tribe… more

The Third District Court of Appeal upheld the Department of Water Resources’ EIR concerning State Water Project contract amendments against multiple CEQA challenges related to impact analysis, project descriptions, and alternative… more

In connection with a merger, acquisition, or other corporate (M&A) transaction, buyers often face the dilemma of how to handle the seller’s existing retirement plans covering the continuing employees. Terminating a seller’s existing… more

Recently, FINRA released a Letter of Acceptance, Waiver and Consent (AWC) against a securities firm for two alleged violative conducts from August 2018 to September 2022. First, FINRA alleged that the firm charged an unfair commission… more

Since Harvard Business School’s Amy Edmondson applied the term “psychological safety” to work teams in 1999, the concept has evolved considerably as employers have become increasingly focused on supporting mental health, engaging in… more

Until relatively recently, private equity buyers were viewed as largely benign. Where antitrust regulators expressed concerns with private equity buyers, it was generally in the context of them being viewed as sub-optimal divestiture… more

Most net asset value (NAV) loans to fund borrowers do not include publicly traded positions in the collateral package because borrowers usually use NAV loans to finance against illiquid positions (and publicly traded positions are… more

The Organisation for Economic Co-operation and Development (OECD) recently released the first edition of its Anti-Corruption and Integrity Outlook, and the report provides an interesting glimpse into the anti-corruption and integrity… more

Allegheny County is no longer going to be the oddball Pennsylvania county when it comes to its annual assessment appeal deadline. On June 4, 2024, Allegheny County amended its Ordinance regarding annual assessment appeal deadlines so… more

In an unusual move, the CFPB is coming to the defense of a bank being accused of failing to provide repayment disclosures to a borrower… more

This year’s annual Compliance Institute (CI) provided a strong reminder of just how fortunate we are to have such a strong relationship with the U.S. Department of Health and Human Services Office of Inspector General (OIG). Starting… more

Firms have just over six months until the transition period for implementing the UK Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and the Bank of England rules and guidance on operational resilience comes to… more

To help you stay on top of the latest news, our AI practice group has compiled a roundup of the developments we are following… more

Writing, implementing, and enforcing strong compliance-related policies is critical to any compliance and ethics program. So, why do so many compliance failures occur due to breakdowns in internal controls?… more

Good Afternoon! This is Akin’s biweekly policy newsletter on space policy and regulatory developments, providing information on major space headlines and forthcoming space-related events and hearings..… more

Pennsylvania-based Geisinger Health System said it experienced a breach impacting more than 1.27 million patients when a former employee of vendor Nuance Communications Inc., a Microsoft Corp. subsidiary, accessed patient information… more

On July 11, the Seventh Circuit Court of Appeals reversed a lower court’s decision dismissing a CFPB action against an Illinois-based mortgage lender and its owner for violations of the Equal Credit Opportunity Act… more

The Court of Appeal has affirmed a three-step test for penalty clauses: (1) is it a secondary obligation; (2) does the clause protect a legitimate interest; and (3) is it extortionate by reference to the legitimate interest? In doing… more

The Situation: The global market for artificial intelligence ("AI") technologies is projected to surpass $1 trillion by 2030… more

In an unreported panel decision of Armstrong Township v. Lycoming County Board of Assessment Appeals and Choice FuelCorp, Inc., 140 C.D. 2022 (Pa. Cmwlth. Ct. Apr. 5, 2024), the Commonwealth Court of Pennsylvania reversed the trial… more

As of January 1, 2024, the Beneficial Ownership Information Reporting Requirements (the “Reporting Rule”) issued by Financial Crimes Enforcement Network (“FinCEN”) to implement Section 6403 of the Corporate Transparency Act (“CTA”)… more

Welcome to the June edition of Akin Intelligence. This month, the General Services Administration (GSA) launched its first AI-focused cohort of Presidential Innovation Fellows (PIF), bringing together experts from across the country to… more