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1 month ago | 
lexology.com | Matthew Abbott |Jarryd E. Anderson |Jessica Carey |Andrew Fishman |Roberto González |Brad S. Karp | +1 more
For additional guidance on the Trump administration’s executive orders, visit our Regulatory/Administrative Tracker. To download a compendium of our recent analysis, click here.
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Nov 27, 2024 | 
law.com | Martin Flumenbaum |Brad S. Karp
Martin Flumenbaum, left, and Brad S. Karp News The authors write "The ADA prohibits discrimination against individuals with disabilities. Title I of the ADA prohibits employment discrimination against qualified individuals with disabilities by employers—including private employers, state and local governments, employment agencies and labor unions—with 15 or more employees." November 27, 2024 at 10:00 AM 7 minute read In Yerdon v. Poitras, --- F.4th ---, 2024 WL 4674339 (2d Cir.
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Oct 30, 2024 | 
law.com | Martin Flumenbaum |Brad S. Karp |Alexi Polden
U.S. Courthouse, Eastern District of New York in Brooklyn, New York. Photo: Ryland West/ALM "the U.S. Court of Appeals for the Second Circuit addressed when a state can establish standing pursuant to the parens patriae doctrine, and, in particular, the contours of the requirement that a state show that there has been an injury to a substantial segment of the state's population." October 30, 2024 at 10:00 AM 6 minute read In People of the State of New York v.
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Oct 29, 2024 | 
lexology.com | Jarryd E. Anderson |Jessica Carey |John Carlin |Roberto González |Brad S. Karp |Kannon K. Shanmugam | +1 more
On October 22, 2024, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) published a 594-page Notice of Final Rulemaking for its “Personal Financial Data Rights” rule, commonly known as the “Open Banking” rule, which will require covered entities—generally, providers of checking and prepaid accounts, credit cards, digital wallets, and other payment facilitators—to provide consumers and consumer-authorized third parties with access to consumers’ financial data free of charge.[1]...
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Oct 15, 2024 | 
lexology.com | L. Atkinson |Jessica Carey |John Carlin |Roberto González |Brad S. Karp |Loretta Lynch | +7 more
On October 9, 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued guidance to financial institutions on “best practices” for compliance with the Export Administration Regulations (“EAR”), including General Prohibition 10.[1] The Guidance appears to mark the first time that BIS has formally indicated that U.S. and non-U.S. financial institutions could be the subject of enforcement actions by BIS for violating the export control regulations directly.
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Oct 2, 2024 | 
lexology.com | L. Atkinson |Jessica Carey |John Carlin |Roberto González |Brad S. Karp |Loretta Lynch | +7 more
The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) recently issued new regulations that will have significant impacts on the compliance obligations of persons subject to U.S. jurisdiction, and particularly financial institutions. First, OFAC issued a Final Rule that describes the types of non-public “tailored actions” it can take.
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Sep 25, 2024 | 
law.com | Martin Flumenbaum |Brad S. Karp
With the U.S. Supreme Court beginning its October Term 2024 in the coming weeks, we conduct our 40th annual review of the performance of the U.S. Court of Appeals for the Second Circuit in the Supreme Court during the past term. The Supreme Court’s October Term 2023 was a consequential one.
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Sep 19, 2024 | 
lexology.com | H. Christopher Boehning |Jessica Carey |John Carlin |Andrew J. Ehrlich |Roberto González |Brad S. Karp | +7 more
On August 28, 2024, the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a rule (the “Final Rule”) imposing new anti-money laundering/countering the financing of terrorism (“AML/CFT”) standards on certain investment advisers (“Covered Investment Advisers”).[1] The Final Rule finalizes a draft that FinCEN proposed in its February 2024 Notice of Proposed Rulemaking (“NPRM”), with certain changes as discussed below.[2] Although the Final Rule does not take...
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Aug 29, 2024 | 
law.com | Martin Flumenbaum |Brad S. Karp
In Windward Bora v. Browne, 110 F.4th 120 (2d Cir. 2024), the U.S. Court of Appeals for the Second Circuit considered whether the state domiciles of an LLC’s permanent resident members are relevant to determining diversity jurisdiction. In a unanimous opinion authored by Circuit Judge John M. Walker Jr. and joined by Circuit Judges Steven J. Menashi and William J.
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Aug 21, 2024 | 
lexology.com | Robert Atkins |Joseph J. Bial |Rebecca Coccaro |Lina Dagnew |Andrew J. Ehrlich |Reuven Falik | +19 more
A federal district court in Texas ruled on the merits that the FTC does not have statutory authority to promulgate the Non-Compete Clause Rule and that the rule is arbitrary and capricious. As a consequence, the court set aside the rule under the Administrative Procedure Act and ordered that it “shall not be enforced or otherwise take effect.” The order is nationwide in scope and not party-specific. Two other challenges to the rule are pending in other district courts.
