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Dec 2, 2024 | 
law.com | H. Christopher Boehning |Daniel J. Toal
Who Got The Work Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct.
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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 7, 2024 | 
lexology.com | L. Atkinson |H. Christopher Boehning |Walter Brown |Jessica Carey |John Carlin |Roberto Finzi | +13 more
On August 1, 2024, the U.S. Department of Justice’s Criminal Division (“DOJ” or “Department”) launched a new Corporate Whistleblower Awards Pilot Program (the “Whistleblower Pilot Program” or the “Pilot Program”).[1]Under the Pilot Program, eligible whistleblowers who provide the Criminal Division with original and truthful information about certain types of corporate misconduct are eligible to receive a portion of a criminal or civil forfeiture exceeding $1 million.
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Jun 3, 2024 | 
law.com | H. Christopher Boehning |Daniel J. Toal
Regardless of what you call them—clone, copycat, flipped—the request is the same: to re-produce document productions from a prior matter to a different party in a new, related matter. Often, the presumption is one of relative ease—just produce what you did before. Such requests, though, often disregard both the potential procedural complexity of clone discovery and the relevance, proportionality and particularity requirements of discovery under the Federal Rules of Civil Procedure.
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May 24, 2024 | 
lexology.com | H. Christopher Boehning |Walter Brown |Geoffrey R. Chepiga |Andrew J. Ehrlich |Andrew Gordon |Gregory F. Laufer | +2 more
On May 16, 2024, the Supreme Court unanimously held in Smith v. Spizzirri, No. 22-1218, 601 U.S. __ (May 16, 2024), that the Federal Arbitration Act (FAA) requires district courts to stay litigation subject to a potential arbitration, rather than dismiss such claims. The decision requires district courts to retain jurisdiction over a matter that is subject to arbitration, which has important implications for which court will ultimately supervise and/or confirm or vacate an arbitration award.
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Mar 18, 2024 | 
lexology.com | L. Atkinson |H. Christopher Boehning |Walter Brown |Jessica Carey |John Carlin |Roberto Finzi | +5 more
On March 7, 2024, Deputy Attorney General Lisa Monaco (“DAG Monaco”) announced that the U.S. Department of Justice (DOJ) will launch a new whistleblower program this year (the “DOJ Program” or the “Whistleblower Program”) that is intended to “create new incentives for individuals to report misconduct” to DOJ and “drive companies to invest further in their own internal compliance and reporting systems.”[1] While a number of federal agencies currently have whistleblower programs, DAG Monaco...
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Feb 21, 2024 | 
lexology.com | H. Christopher Boehning |Jessica Carey |John Carlin |David C. Fein |Michael E. Gertzman |Roberto González | +4 more
On February 13, 2024, the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) published a proposed rule aimed at “keep[ing] criminals and foreign adversaries from exploiting the U.S. financial system and assets through investment advisers” (the “Proposed Rule”).[1] The Proposed Rule would require SEC-registered investment advisers (“RIAs”) and exempt reporting advisers (“ERAs”) (together, “Covered Investment Advisers”) to establish anti-money laundering/countering the...
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Feb 5, 2024 | 
law.com | H. Christopher Boehning |Daniel J. Toal
Federal Rule of Civil Procedure 37(e) was intended to address some unique challenges surrounding the preservation of electronically stored information (ESI). Since 2015, courts frequently have utilized the rule when deciding motions for sanctions for ESI spoliation. One key question rarely addressed, though, is whether, in addition to the content of ESI, Rule 37(e) also applies to its metadata—the properties and other information about electronic files.
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Jan 29, 2024 | 
lexology.com | Jarryd E. Anderson |H. Christopher Boehning |Susanna M. Buergel |Jessica Carey |Michael E. Gertzman |Roberto González | +3 more
Introduction On January 22, 2024, the New York State Department of Financial Services (“NYDFS”) issued final Guidance (the “Guidance”) for most institutions holding a license from the NYDFS[1] (“Covered Institutions”) setting out NYDFS’s expectation that Covered Institutions engage in rigorous character and fitness assessments of directors, senior officers and managers, both at onboarding and on an ongoing basis.[2] The Guidance reflects an ongoing effort by policymakers and regulators to...
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Nov 15, 2023 | 
lexology.com | H. Christopher Boehning |Susanna M. Buergel |Jessica Carey |John Carlin |Jarryd E. Anderson
On November 3, 2023, members of the Financial Stability Oversight Council (“FSOC” or “Council”)[1] voted unanimously to issue final interpretive guidance on the FSOC’s nonbank financial company designations process (the “Final Guidance”),[2] which is set to replace the existing 2019 guidance (“2019 Interpretive Guidance”) 60 days after publication,[3] and a new analytic framework for financial stability risk identification, assessment and response (the “Analytic Framework”).[4] In April of...
