Cicero Intelligent Minds

DROPLETS

AmLaw 100 Legal Intelligence — Distilled
Tuesday, August 11, 202618 featured8 also noted9 firms11 practice areasgrade 3–5
Quick Scan — Why It Matters
Troutman Pepper LockeSecurities / Capital Markets+ Expand
SEC Launches Dedicated Financial Reporting Enforcement Unit

Public company in-house legal, accounting, and finance leaders must prepare for heightened SEC scrutiny of financial reporting and accounting practices following the creation of a dedicated enforcement unit for these areas.

On August 5, the SEC announced the formation of a new specialized unit within its Division of Enforcement focused exclusively on financial reporting and accounting violations. The unit will consolidate existing enforcement expertise to pursue cases related to issuer disclosures, accounting fraud, and audit-related misconduct, signaling a strategic agency shift to prioritize these high-priority areas. Public companies should review their internal accounting controls, disclosure review processes, and whistleblower protocols to mitigate enforcement risk, and in-house legal teams should prepare for more targeted SEC information requests and inquiries related to financial reporting practices.

Read the full dispatch →
Troutman Pepper LockeAntitrust / Competition+ Expand
FTC Obtains $12M Settlement for HSR Premerger Filing Violations

M&A counsel at companies executing mid-to-large transactions must review deal structuring practices to avoid costly HSR premerger filing violations.

The FTC secured a $12 million settlement with Edwards Lifesciences and Genesis MedTech over a 2024 transaction the companies structured to evade Hart-Scott-Rodino (HSR) Act premerger filing requirements. The enforcement action signals the FTC is prioritizing aggressive scrutiny of deal structures designed to circumvent HSR thresholds, even when parties argue transactions fall below mandatory reporting levels. In-house counsel should audit recent and pending M&A deal structuring to confirm all HSR filing obligations are satisfied, and retain detailed documentation of any threshold analysis to defend against potential enforcement claims.

Read the full dispatch →
CooleyRegulatory / Government+ Expand
FCC Adopts Overhauled Space Station Licensing Framework

In-house counsel for satellite operators, space infrastructure firms, and related telecommunications companies must act because the FCC’s first major space station licensing overhaul in years eliminates longstanding requirements, creates new application categories, and rewrites processing timelines that impact all space asset deployment and compliance plans.

On July 22, the FCC adopted a comprehensive Report and Order and Further Notice of Proposed Rulemaking to modernize its space and earth station licensing framework, the first major overhaul of these rules in years. Key changes include eliminating surety bond requirements for most space systems (with a $10 million bond required only for non-geostationary orbit systems in processing rounds, scaled to deployment progress), creating a new 'variable trajectory space stations' licensing category for emerging technologies like orbital transfer vehicles and lunar mission assets, a streamlined modular 'licensing assembly line' application process, and the ability to receive conditional grants to begin launch or operations before full authorization is granted. The FCC also eliminated its prior streamlined small satellite rules, and issued a further notice seeking comment on additional modernization proposals including new experimental space licenses and simplified modification processes for radio frequency capabilities. In-house counsel for affected space and telecom companies should review th

Read the full dispatch →
Foley & LardnerEmployment / Labor+ Expand
NLRB Gains 3-1 Republican Majority, Set to Overturn Pro-Employee Precedent

U.S. employer in-house employment counsel and HR leadership must track upcoming NLRB rulings, as the board’s new 3-1 Republican majority will overturn multiple pro-employee workplace precedents.

On August 7, 2026, the U.S. Senate confirmed two National Labor Relations Board nominees, expanding the board to four members with a 3-1 Republican majority, up from a three-member split board that included a Democratic holdover whose term was set to expire. The new majority has authority to overturn existing pro-employee precedents, including the Cemex bargaining order rule, the Amazon captive audience meeting ban, the Stericycle workplace handbook standard, and the McLaren Macomb severance agreement restriction. The NLRB General Counsel has also issued guidance prioritizing settlement of policy-only NLRA claims without accompanying adverse employment actions, signaling a shift away from strict pro-employee enforcement. Employers should review existing workplace policies, handbook rules, and severance agreement terms to prepare for upcoming precedent changes.

Read the full dispatch →
Troutman Pepper LockeEnergy / Renewables+ Expand
Texas Pauses 474GW of Planned Data Center Grid Connections

Large Texas data center developers and energy infrastructure investors must act because the governor’s pause blocks new grid interconnection approvals for 474GW of planned capacity, delaying project timelines and requiring revised compliance and permitting strategies.

Texas Governor Greg Abbott directed the state Public Utility Commission of Texas (PUCT) to pause approvals for new grid connections to large data centers, impacting 474GW of planned data center capacity in the state, one of the largest U.S. data center markets. The pause introduces new oversight requirements for interconnection requests, including proof of sufficient on-site power backup and alignment with state grid reliability goals. Project developers, utility stakeholders, and data center and energy infrastructure investors should monitor upcoming PUCT rulemaking, adjust project timelines for extended review periods, and prepare documentation demonstrating grid resilience compliance to support future applications.

Read the full dispatch →
Mayer BrownGuides / Playbooks+ Expand
UK Pensions: IHT Reporting Rules Finalised, VFM Timeline Staggered

UK pension trustees and administrators must update death-benefit processes by 6 April 2027 under finalised HMRC information-sharing regulations for the new inheritance tax treatment of pensions.

Final regulations implement information-sharing requirements between schemes, personal representatives, and HMRC for the new IHT regime on death benefits, effective for deaths on or after 6 April 2027. Notably, payment of a death-in-service benefit is no longer a reportable event. HMRC will issue further technical guidance on withholding and payment notices later this summer. Separately, the government updated its pensions reform roadmap, confirming DB surplus reforms take effect in H1 2027 and the new DC value-for-money regime applies from 2028 to larger schemes and 2029 to remaining occupational DC schemes. HMRC also tightened VAT recovery guidance on pension scheme administration costs, narrowing employer recovery options and removing prior tripartite-agreement guidance; industry has sought clarification. Levy-rate consultations and draft rules on authorised member surplus payments are open through early September 2026.

Read the full dispatch →
Mayer BrownRegulatory / Government+ Expand
CHIPS Act Funding Open to Semiconductor Ecosystem Companies

U.S. semiconductor ecosystem companies, including manufacturers, component suppliers, and R&D operators, are eligible to apply for billions in federal CHIPS Act funding to offset domestic production and innovation costs.

The publication details newly accessible funding streams under the 2022 CHIPS and Science Act, which allocates $52.7 billion in federal incentives to expand domestic semiconductor manufacturing, research, and workforce development. Eligible applicants include semiconductor fabricators, equipment and materials suppliers, and R&D firms developing advanced chip technologies. The guidance outlines application requirements, eligible expense categories, and compliance obligations for award recipients, including restrictions on certain foreign entity investments and requirements to return excess funds for non-compliant projects. In-house counsel for eligible firms should review the guidance to assess organizational eligibility, prepare required application documentation, and align corporate structures and investment activities with award compliance rules to avoid disqualification or repayment demands.

Read the full dispatch →
Mayer BrownLitigation / Appellate+ Expand
First Joint TCC/FTT Ruling Sets BSA Concurrent Proceedings Case Management Blueprint

In-house counsel for parties to concurrent Building Safety Act 2022 TCC and FTT proceedings must follow this first-of-its-kind joint ruling’s procedural framework to avoid duplicative costs and contradictory factual outcomes.

For the first time, the Technology and Construction Court (TCC) and First-Tier Tribunal (Lands Chamber) (FTT) issued a joint judgment establishing a binding procedural framework for managing concurrent Building Safety Act 2022 (BSA) claims across both jurisdictions, arising from a Croydon development remediation agreement and associated remediation contribution order dispute. The ruling aligns with the new Fourth Edition TCC Guide’s Section 9, which mandates joint case management for related BSA proceedings to eliminate inconsistent factual findings, reduce duplicated disclosure and evidence costs, and streamline judicial resource use. It also resolves key procedural conflicts between the TCC’s formal CPR rules and the FTT’s no-costs regime, including a three-way costs coding model for work specific to each forum and joint work, and confirms joint hearings are preferred over formal consolidation to preserve each jurisdiction’s separate procedural identity. Parties with overlapping BSA claims across the TCC and FTT should seek joint case management early, adopt the endorsed separate c

Read the full dispatch →
Mayer BrownEmployment / Labor+ Expand
Ninth Circuit Finds ERISA Plan Arbitration Clauses Unenforceable Under Effective Vindication

Employers and ERISA plan sponsors that include mandatory arbitration clauses in employee benefit plans must review their plan documents, as the Ninth Circuit’s ruling deems those clauses unenforceable, exposing sponsors to court-filed ERISA claims and class action liability.

The U.S. Court of Appeals for the Ninth Circuit has again applied the effective vindication doctrine to invalidate mandatory arbitration clauses in ERISA-governed employee benefit plans, holding that provisions waiving plan participants’ right to bring statutory ERISA claims in court are unenforceable. The ruling reinforces that broadly worded arbitration clauses cannot override participants’ statutory remedies under federal benefits law. For in-house counsel at employers and plan sponsors operating in the Ninth Circuit, this requires immediate review of all ERISA plan documents to remove or revise unenforceable arbitration language, update internal claims and appeals procedures to align with the ruling, and evaluate any pending ERISA claims that may now be litigated in court rather than private arbitration.

Read the full dispatch →
Mayer BrownRegulatory / Government+ Expand
Upcoming Brazilian Judicial, Legislative Docket Features Key Tax, Environmental, Agribusiness Items

In-house counsel overseeing Brazilian business operations must review this weekly docket to anticipate pending judicial and congressional actions that may alter core tax, environmental, and agribusiness compliance obligations.

The August 10, 2026 edition of this weekly Brazilian legal docket previews cases and bills scheduled for review between August 10 and 14, 2026 across Brazil’s Supreme Court (STF), Superior Court of Justice (STJ), Court of Accounts (TCU), and federal legislature. Key items include STF challenges to state agro-industrial tax incentives and ICMS origin-based benefits, a federal rule shifting tax deposit correction from the SELIC rate to the IPCA index, challenges to simplified environmental licensing laws, a new federal fertilizer industry support bill, and disputes over indigenous land governance frameworks. In-house counsel with Brazilian operations should review relevant scheduled items to assess potential impacts on tax planning, compliance programs, and operational licensing requirements, and prepare for upcoming ruling or legislative outcomes.

Read the full dispatch →
Arnold & PorterLitigation / Class Action+ Expand
Federal Court Rejects Amended UPF Personal Injury Pleading Over Causation Gaps

In-house counsel for food and consumer product manufacturers must monitor this ruling, as it affirms that specific causation is a near-insurmountable barrier to aggregated ultra-processed food (UPF) personal injury and public enforcement claims.

On June 30, 2026, a Pennsylvania federal judge denied plaintiff Martinez’s motion for leave to amend his ultra-processed food (UPF) personal injury complaint, holding the 437-page proposed pleading failed to satisfy but-for specific causation requirements for 179 named products consumed over 12 years. The court rejected the plaintiff’s reliance on epidemiological correlations between UPF consumption and chronic disease as insufficient to prove individual product causation, and declined to apply alternative or market-share liability doctrines that require fungible harmful products. The ruling creates binding Third Circuit precedent for pending UPF mass tort cases, and defense counsel in other jurisdictions are already citing it to support pending motions to dismiss. In-house counsel should track adoption of this reasoning in other UPF personal injury and government enforcement actions, and monitor pending federal rulemaking to define 'UPF' that could shape future case theories.

Read the full dispatch →
Troutman Pepper LockeEmployment / Labor+ Expand
DOL Proposes Extending Electronic Notice Safe Harbor to Group Health Plans

Group health plan sponsors and employee benefits compliance teams must track this DOL proposal, which would extend the electronic notice-and-access safe harbor to group health plans to cut administrative burden and lower compliance risk for compliant electronic notice delivery.

The U.S. Department of Labor has issued proposed regulations that would extend the existing notice-and-access electronic delivery safe harbor, currently limited to select employee benefit plan disclosures, to all notices required for group health plans under ERISA and the Affordable Care Act. If finalized, the rule would permit plan sponsors to deliver required plan notices electronically (via email, secure plan portals, or other compliant digital channels) without obtaining individual participant consent, as long as notices meet existing safe harbor standards for accessibility and clear notice of the right to request paper copies. Group health plan sponsors should review the proposed rule, submit comments during the public comment period, and evaluate their current notice delivery workflows to ensure alignment with the expanded safe harbor if it takes effect.

Read the full dispatch →
Troutman Pepper LockeEnergy / Renewables+ Expand
FCC Bars Foreign Networked Power Inverters From US Market

US energy, renewable and grid infrastructure operators, plus inverter importers, must immediately adjust supply chains as the FCC’s new Covered List ban blocks all foreign-produced networked power inverters from the US market.

The FCC has formally added foreign-produced networked power inverters to its Covered List of prohibited communications equipment, barring all such devices from import, sale or use in US energy and grid systems. The ban takes effect immediately for new shipments, with no grandfathering for inventory already in the US market. Affected parties may apply for a conditional approval waiver via the Department of Energy or Department of Homeland Security if they can prove no viable domestic alternative exists for their use case. Energy and renewable project developers should immediately audit current and planned inverter supply chains to identify compliant alternatives, and adjust project budgets and timelines to account for potential cost increases and lead time delays.

Read the full dispatch →
LittlerImmigration+ Expand
First Circuit Pauses $100K H-1B Fee Policy During Appeal

In-house counsel and HR teams that sponsor H-1B visa holders can defer budgeting for the $100,000 per-worker fee while the appellate pause remains in place.

On July 24, 2026, the U.S. Court of Appeals for the First Circuit issued a stay blocking enforcement of the $100,000 per-worker H-1B application fee policy challenged in State of California v. Noem, pausing the rule while the underlying appeal proceeds. The steep fee, which would have applied to all new and renewed H-1B visa applications, is currently unenforceable, so employers do not need to pay the fee for filings submitted during the pause. In-house counsel should track the appeal’s status, retain records of all H-1B applications filed while the pause is active, and adjust upcoming immigration budget projections to exclude the fee unless the policy is ultimately upheld on appeal.

Read the full dispatch →
Foley & LardnerEmployment / Labor+ Expand
Appellate Rulings Outline Legal Risks for Employer DEI Training Programs

US employer in-house employment and compliance counsel must audit DEI training content and trainer conduct to avoid liability, as recent federal appellate rulings clarify the line between permissible programs and those that create actionable hostile work environment or retaliation claims.

Recent federal appellate decisions have established clear legal boundaries for employer DEI training programs. Courts have consistently dismissed hostile work environment claims tied to DEI training that discusses systemic bias without explicitly derogatory, race-based content targeting individual employees, and have rejected retaliation claims from employees who refused training without first reviewing its content. However, training that includes explicitly racist remarks, racial segregation of participants, or personal accusations tying employee traits to white supremacy can support hostile work environment liability. Employers should review all DEI training materials and vet trainer conduct to ensure content avoids targeted, derogatory demographic-based commentary to reduce legal risk.

Read the full dispatch →
Faegre DrinkerLitigation / Class Action+ Expand
Third Circuit: Correlation Insufficient for Causation in Pharma TPP Class Actions

In-house counsel for pharmaceutical manufacturers and third-party payors must account for this binding precedent, as it blocks plaintiff efforts to certify TPP class actions using only temporal links between drug use and alleged harms.

The U.S. Court of Appeals for the Third Circuit ruled that temporal correlation between a pharmaceutical product and alleged patient harm does not meet the causation requirement for product liability claims, including third-party payor (TPP) class actions. The decision reaffirms that causation is a mandatory element of all product liability suits, and plaintiffs cannot rely on timing alone to prove a drug caused alleged injuries when seeking class certification. In-house counsel handling pharmaceutical product liability or TPP class action defense should cite this binding Third Circuit precedent to oppose class certification motions that rely solely on temporal correlation to establish causation.

Read the full dispatch →
BakerHostetlerFintech / Crypto+ Expand
Weekly Blockchain Digest: Stablecoin Charters, Institutional Tokenization, $130M Crypto Wallet Hack

In-house counsel for financial services, fintech, and payments firms must track these developments, which signal accelerating regulatory acceptance of stablecoins and institutional digital asset products alongside emerging cybersecurity risks for crypto holdings.

This weekly blockchain digest covers four key developments. First, multiple major payments firms are launching stablecoin integrations, while stablecoin issuer Circle secured a limited purpose trust charter from the New York Department of Financial Services and fintech Dakota applied for a national trust bank charter, signaling growing regulatory clarity for stablecoin issuers. Second, several large U.S. banks are rolling out tokenized deposit products for corporate clients, with planned 24/7 settlement, smart contract functionality, and the same regulatory protections and deposit insurance eligibility as traditional deposits. Third, the Bank for International Settlements launched Project Agorá, a public-private partnership with 8 central banks and 40+ financial institutions to test tokenized wholesale cross-border payments. Finally, a $130 million Bitcoin theft from Coldcard hardware wallets highlights ongoing cybersecurity risks for crypto asset holdings, with users advised to update firmware and replace seed phrases.

Read the full dispatch →
BakerHostetlerWhite Collar / Investigations+ Expand
Expanded CIPA Use Shifts Discovery, Timing for Non-National Security Criminal Cases

In-house counsel for companies facing sanctions, export controls, FCPA or related criminal investigations must account for expanded CIPA application, which introduces procedural hurdles that delay proceedings and restrict access to relevant evidence.

Once limited to a small number of national security prosecutions, the Classified Information Procedures Act (CIPA) is now increasingly invoked in non-security criminal cases including sanctions and tariff evasion, export controls violations, narcotics trafficking, and Foreign Corrupt Practices Act (FCPA) matters. This shift adds significant complexity to criminal proceedings, as CIPA rules govern if, when, and how classified information can be introduced as evidence, while also imposing strict timelines for discovery disputes related to classified material. In-house counsel for companies operating in regulated sectors should work with outside litigation counsel to develop early CIPA response protocols, assess potential classified evidence exposure during internal investigations, and build trial strategies that account for CIPA’s evidentiary and timing restrictions.

Read the full dispatch →
DIG DEEPER
MOST CONSEQUENTIALNLRB Gains 3-1 Republican Majority, Set to Overturn Pro-Employee Precedent

U.S. employer in-house employment counsel and HR leadership must track upcoming NLRB rulings, as the board’s new 3-1 Republican majority will overturn multiple pro-employee workplace precedents.

On August 7, 2026, the U.S. Senate confirmed two National Labor Relations Board nominees, expanding the board to four members with a 3-1 Republican majority, up from a three-member split board that included a Democratic holdover whose term was set to expire. The new majority has authority to overturn existing pro-employee precedents, including the Cemex bargaining order rule, the Amazon captive audience meeting ban, the Stericycle workplace handbook standard, and the McLaren Macomb severance agreement restriction. The NLRB General Counsel has also issued guidance prioritizing settlement of policy-only NLRA claims without accompanying adverse employment actions, signaling a shift away from strict pro-employee enforcement. Employers should review existing workplace policies, handbook rules, and severance agreement terms to prepare for upcoming precedent changes.

Foley & LardnerEmployment / Labor
nlrblabor-lawworkplace-complianceunion-relationsemployment-policy
AR
Today's Curator
Arthur Rodrigues. Corporate Counsel & Corporate Secretary at Teachable, Inc. Founder of Cicero Intelligent Minds. Former BigLaw (O'Melveny, Weil, Hughes Hubbard). JD/LLM Michigan Law.
Full Analysis — The Details
01 — ANTITRUST / COMPETITION1
Troutman Pepper Locke+ Expand
FTC Obtains $12M Settlement for HSR Premerger Filing Violations

M&A counsel at companies executing mid-to-large transactions must review deal structuring practices to avoid costly HSR premerger filing violations.

The FTC secured a $12 million settlement with Edwards Lifesciences and Genesis MedTech over a 2024 transaction the companies structured to evade Hart-Scott-Rodino (HSR) Act premerger filing requirements. The enforcement action signals the FTC is prioritizing aggressive scrutiny of deal structures designed to circumvent HSR thresholds, even when parties argue transactions fall below mandatory reporting levels. In-house counsel should audit recent and pending M&A deal structuring to confirm all HSR filing obligations are satisfied, and retain detailed documentation of any threshold analysis to defend against potential enforcement claims.

hsr-actantitrust-enforcementmerger-compliancepremerger-filings
Read the full dispatch →
02 — EMPLOYMENT / LABOR4
Foley & Lardner+ Expand
NLRB Gains 3-1 Republican Majority, Set to Overturn Pro-Employee Precedent

U.S. employer in-house employment counsel and HR leadership must track upcoming NLRB rulings, as the board’s new 3-1 Republican majority will overturn multiple pro-employee workplace precedents.

On August 7, 2026, the U.S. Senate confirmed two National Labor Relations Board nominees, expanding the board to four members with a 3-1 Republican majority, up from a three-member split board that included a Democratic holdover whose term was set to expire. The new majority has authority to overturn existing pro-employee precedents, including the Cemex bargaining order rule, the Amazon captive audience meeting ban, the Stericycle workplace handbook standard, and the McLaren Macomb severance agreement restriction. The NLRB General Counsel has also issued guidance prioritizing settlement of policy-only NLRA claims without accompanying adverse employment actions, signaling a shift away from strict pro-employee enforcement. Employers should review existing workplace policies, handbook rules, and severance agreement terms to prepare for upcoming precedent changes.

nlrblabor-lawworkplace-complianceunion-relationsemployment-policy
Read the full dispatch →
Mayer Brown+ Expand
Ninth Circuit Finds ERISA Plan Arbitration Clauses Unenforceable Under Effective Vindication

Employers and ERISA plan sponsors that include mandatory arbitration clauses in employee benefit plans must review their plan documents, as the Ninth Circuit’s ruling deems those clauses unenforceable, exposing sponsors to court-filed ERISA claims and class action liability.

The U.S. Court of Appeals for the Ninth Circuit has again applied the effective vindication doctrine to invalidate mandatory arbitration clauses in ERISA-governed employee benefit plans, holding that provisions waiving plan participants’ right to bring statutory ERISA claims in court are unenforceable. The ruling reinforces that broadly worded arbitration clauses cannot override participants’ statutory remedies under federal benefits law. For in-house counsel at employers and plan sponsors operating in the Ninth Circuit, this requires immediate review of all ERISA plan documents to remove or revise unenforceable arbitration language, update internal claims and appeals procedures to align with the ruling, and evaluate any pending ERISA claims that may now be litigated in court rather than private arbitration.

erisaarbitrationemployee-benefitsninth-circuiteffective-vindication
Read the full dispatch →
Troutman Pepper Locke+ Expand
DOL Proposes Extending Electronic Notice Safe Harbor to Group Health Plans

Group health plan sponsors and employee benefits compliance teams must track this DOL proposal, which would extend the electronic notice-and-access safe harbor to group health plans to cut administrative burden and lower compliance risk for compliant electronic notice delivery.

The U.S. Department of Labor has issued proposed regulations that would extend the existing notice-and-access electronic delivery safe harbor, currently limited to select employee benefit plan disclosures, to all notices required for group health plans under ERISA and the Affordable Care Act. If finalized, the rule would permit plan sponsors to deliver required plan notices electronically (via email, secure plan portals, or other compliant digital channels) without obtaining individual participant consent, as long as notices meet existing safe harbor standards for accessibility and clear notice of the right to request paper copies. Group health plan sponsors should review the proposed rule, submit comments during the public comment period, and evaluate their current notice delivery workflows to ensure alignment with the expanded safe harbor if it takes effect.

dol-regulationsgroup-health-plansemployee-benefitselectronic-noticeserisa-compliance
Read the full dispatch →
Foley & Lardner+ Expand
Appellate Rulings Outline Legal Risks for Employer DEI Training Programs

US employer in-house employment and compliance counsel must audit DEI training content and trainer conduct to avoid liability, as recent federal appellate rulings clarify the line between permissible programs and those that create actionable hostile work environment or retaliation claims.

Recent federal appellate decisions have established clear legal boundaries for employer DEI training programs. Courts have consistently dismissed hostile work environment claims tied to DEI training that discusses systemic bias without explicitly derogatory, race-based content targeting individual employees, and have rejected retaliation claims from employees who refused training without first reviewing its content. However, training that includes explicitly racist remarks, racial segregation of participants, or personal accusations tying employee traits to white supremacy can support hostile work environment liability. Employers should review all DEI training materials and vet trainer conduct to ensure content avoids targeted, derogatory demographic-based commentary to reduce legal risk.

dei-trainingemployment-liabilityhostile-work-environmentworkplace-compliance
Read the full dispatch →
03 — ENERGY / RENEWABLES2
Troutman Pepper Locke+ Expand
Texas Pauses 474GW of Planned Data Center Grid Connections

Large Texas data center developers and energy infrastructure investors must act because the governor’s pause blocks new grid interconnection approvals for 474GW of planned capacity, delaying project timelines and requiring revised compliance and permitting strategies.

Texas Governor Greg Abbott directed the state Public Utility Commission of Texas (PUCT) to pause approvals for new grid connections to large data centers, impacting 474GW of planned data center capacity in the state, one of the largest U.S. data center markets. The pause introduces new oversight requirements for interconnection requests, including proof of sufficient on-site power backup and alignment with state grid reliability goals. Project developers, utility stakeholders, and data center and energy infrastructure investors should monitor upcoming PUCT rulemaking, adjust project timelines for extended review periods, and prepare documentation demonstrating grid resilience compliance to support future applications.

texas-data-centersgrid-connection-pauseenergy-regulatory-oversightdata-center-infrastructurepuct-rulemaking
Read the full dispatch →
Troutman Pepper Locke+ Expand
FCC Bars Foreign Networked Power Inverters From US Market

US energy, renewable and grid infrastructure operators, plus inverter importers, must immediately adjust supply chains as the FCC’s new Covered List ban blocks all foreign-produced networked power inverters from the US market.

The FCC has formally added foreign-produced networked power inverters to its Covered List of prohibited communications equipment, barring all such devices from import, sale or use in US energy and grid systems. The ban takes effect immediately for new shipments, with no grandfathering for inventory already in the US market. Affected parties may apply for a conditional approval waiver via the Department of Energy or Department of Homeland Security if they can prove no viable domestic alternative exists for their use case. Energy and renewable project developers should immediately audit current and planned inverter supply chains to identify compliant alternatives, and adjust project budgets and timelines to account for potential cost increases and lead time delays.

fcc-covered-listpower-invertersenergy-supply-chaingrid-infrastructure
Read the full dispatch →
04 — FINTECH / CRYPTO1
BakerHostetler+ Expand
Weekly Blockchain Digest: Stablecoin Charters, Institutional Tokenization, $130M Crypto Wallet Hack

In-house counsel for financial services, fintech, and payments firms must track these developments, which signal accelerating regulatory acceptance of stablecoins and institutional digital asset products alongside emerging cybersecurity risks for crypto holdings.

This weekly blockchain digest covers four key developments. First, multiple major payments firms are launching stablecoin integrations, while stablecoin issuer Circle secured a limited purpose trust charter from the New York Department of Financial Services and fintech Dakota applied for a national trust bank charter, signaling growing regulatory clarity for stablecoin issuers. Second, several large U.S. banks are rolling out tokenized deposit products for corporate clients, with planned 24/7 settlement, smart contract functionality, and the same regulatory protections and deposit insurance eligibility as traditional deposits. Third, the Bank for International Settlements launched Project Agorá, a public-private partnership with 8 central banks and 40+ financial institutions to test tokenized wholesale cross-border payments. Finally, a $130 million Bitcoin theft from Coldcard hardware wallets highlights ongoing cybersecurity risks for crypto asset holdings, with users advised to update firmware and replace seed phrases.

stablecoinsdigital-asset-regulationtokenized-depositscross-border-paymentscrypto-cybersecurity
Read the full dispatch →
05 — GUIDES / PLAYBOOKS1
Mayer Brown+ Expand
UK Pensions: IHT Reporting Rules Finalised, VFM Timeline Staggered

UK pension trustees and administrators must update death-benefit processes by 6 April 2027 under finalised HMRC information-sharing regulations for the new inheritance tax treatment of pensions.

Final regulations implement information-sharing requirements between schemes, personal representatives, and HMRC for the new IHT regime on death benefits, effective for deaths on or after 6 April 2027. Notably, payment of a death-in-service benefit is no longer a reportable event. HMRC will issue further technical guidance on withholding and payment notices later this summer. Separately, the government updated its pensions reform roadmap, confirming DB surplus reforms take effect in H1 2027 and the new DC value-for-money regime applies from 2028 to larger schemes and 2029 to remaining occupational DC schemes. HMRC also tightened VAT recovery guidance on pension scheme administration costs, narrowing employer recovery options and removing prior tripartite-agreement guidance; industry has sought clarification. Levy-rate consultations and draft rules on authorised member surplus payments are open through early September 2026.

pensions-ukinheritance-taxvalue-for-moneyvat-recoverydb-surplus
Read the full dispatch →
06 — IMMIGRATION1
Littler+ Expand
First Circuit Pauses $100K H-1B Fee Policy During Appeal

In-house counsel and HR teams that sponsor H-1B visa holders can defer budgeting for the $100,000 per-worker fee while the appellate pause remains in place.

On July 24, 2026, the U.S. Court of Appeals for the First Circuit issued a stay blocking enforcement of the $100,000 per-worker H-1B application fee policy challenged in State of California v. Noem, pausing the rule while the underlying appeal proceeds. The steep fee, which would have applied to all new and renewed H-1B visa applications, is currently unenforceable, so employers do not need to pay the fee for filings submitted during the pause. In-house counsel should track the appeal’s status, retain records of all H-1B applications filed while the pause is active, and adjust upcoming immigration budget projections to exclude the fee unless the policy is ultimately upheld on appeal.

h-1b-visasimmigration-feesappellate-litigationemployment-immigrationfee-policy
Read the full dispatch →
07 — LITIGATION / APPELLATE1
Mayer Brown+ Expand
First Joint TCC/FTT Ruling Sets BSA Concurrent Proceedings Case Management Blueprint

In-house counsel for parties to concurrent Building Safety Act 2022 TCC and FTT proceedings must follow this first-of-its-kind joint ruling’s procedural framework to avoid duplicative costs and contradictory factual outcomes.

For the first time, the Technology and Construction Court (TCC) and First-Tier Tribunal (Lands Chamber) (FTT) issued a joint judgment establishing a binding procedural framework for managing concurrent Building Safety Act 2022 (BSA) claims across both jurisdictions, arising from a Croydon development remediation agreement and associated remediation contribution order dispute. The ruling aligns with the new Fourth Edition TCC Guide’s Section 9, which mandates joint case management for related BSA proceedings to eliminate inconsistent factual findings, reduce duplicated disclosure and evidence costs, and streamline judicial resource use. It also resolves key procedural conflicts between the TCC’s formal CPR rules and the FTT’s no-costs regime, including a three-way costs coding model for work specific to each forum and joint work, and confirms joint hearings are preferred over formal consolidation to preserve each jurisdiction’s separate procedural identity. Parties with overlapping BSA claims across the TCC and FTT should seek joint case management early, adopt the endorsed separate c

building-safety-acttcc-ftt-joint-proceedingsbsa-case-managementconstruction-litigation
Read the full dispatch →
08 — LITIGATION / CLASS ACTION2
Arnold & Porter+ Expand
Federal Court Rejects Amended UPF Personal Injury Pleading Over Causation Gaps

In-house counsel for food and consumer product manufacturers must monitor this ruling, as it affirms that specific causation is a near-insurmountable barrier to aggregated ultra-processed food (UPF) personal injury and public enforcement claims.

On June 30, 2026, a Pennsylvania federal judge denied plaintiff Martinez’s motion for leave to amend his ultra-processed food (UPF) personal injury complaint, holding the 437-page proposed pleading failed to satisfy but-for specific causation requirements for 179 named products consumed over 12 years. The court rejected the plaintiff’s reliance on epidemiological correlations between UPF consumption and chronic disease as insufficient to prove individual product causation, and declined to apply alternative or market-share liability doctrines that require fungible harmful products. The ruling creates binding Third Circuit precedent for pending UPF mass tort cases, and defense counsel in other jurisdictions are already citing it to support pending motions to dismiss. In-house counsel should track adoption of this reasoning in other UPF personal injury and government enforcement actions, and monitor pending federal rulemaking to define 'UPF' that could shape future case theories.

upf-litigationproduct-liabilityfood-causationconsumer-enforcement
Read the full dispatch →
Faegre Drinker+ Expand
Third Circuit: Correlation Insufficient for Causation in Pharma TPP Class Actions

In-house counsel for pharmaceutical manufacturers and third-party payors must account for this binding precedent, as it blocks plaintiff efforts to certify TPP class actions using only temporal links between drug use and alleged harms.

The U.S. Court of Appeals for the Third Circuit ruled that temporal correlation between a pharmaceutical product and alleged patient harm does not meet the causation requirement for product liability claims, including third-party payor (TPP) class actions. The decision reaffirms that causation is a mandatory element of all product liability suits, and plaintiffs cannot rely on timing alone to prove a drug caused alleged injuries when seeking class certification. In-house counsel handling pharmaceutical product liability or TPP class action defense should cite this binding Third Circuit precedent to oppose class certification motions that rely solely on temporal correlation to establish causation.

product-liabilityclass-actionpharmaceuticalcausationthird-party-payor
Read the full dispatch →
09 — REGULATORY / GOVERNMENT3
Cooley+ Expand
FCC Adopts Overhauled Space Station Licensing Framework

In-house counsel for satellite operators, space infrastructure firms, and related telecommunications companies must act because the FCC’s first major space station licensing overhaul in years eliminates longstanding requirements, creates new application categories, and rewrites processing timelines that impact all space asset deployment and compliance plans.

On July 22, the FCC adopted a comprehensive Report and Order and Further Notice of Proposed Rulemaking to modernize its space and earth station licensing framework, the first major overhaul of these rules in years. Key changes include eliminating surety bond requirements for most space systems (with a $10 million bond required only for non-geostationary orbit systems in processing rounds, scaled to deployment progress), creating a new 'variable trajectory space stations' licensing category for emerging technologies like orbital transfer vehicles and lunar mission assets, a streamlined modular 'licensing assembly line' application process, and the ability to receive conditional grants to begin launch or operations before full authorization is granted. The FCC also eliminated its prior streamlined small satellite rules, and issued a further notice seeking comment on additional modernization proposals including new experimental space licenses and simplified modification processes for radio frequency capabilities. In-house counsel for affected space and telecom companies should review th

fcc-space-rulessatellite-licensingspace-station-licensingspace-technology
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Mayer Brown+ Expand
CHIPS Act Funding Open to Semiconductor Ecosystem Companies

U.S. semiconductor ecosystem companies, including manufacturers, component suppliers, and R&D operators, are eligible to apply for billions in federal CHIPS Act funding to offset domestic production and innovation costs.

The publication details newly accessible funding streams under the 2022 CHIPS and Science Act, which allocates $52.7 billion in federal incentives to expand domestic semiconductor manufacturing, research, and workforce development. Eligible applicants include semiconductor fabricators, equipment and materials suppliers, and R&D firms developing advanced chip technologies. The guidance outlines application requirements, eligible expense categories, and compliance obligations for award recipients, including restrictions on certain foreign entity investments and requirements to return excess funds for non-compliant projects. In-house counsel for eligible firms should review the guidance to assess organizational eligibility, prepare required application documentation, and align corporate structures and investment activities with award compliance rules to avoid disqualification or repayment demands.

chips-actsemiconductor-fundingfederal-incentivesdomestic-manufacturingtech-regulatory
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Mayer Brown+ Expand
Upcoming Brazilian Judicial, Legislative Docket Features Key Tax, Environmental, Agribusiness Items

In-house counsel overseeing Brazilian business operations must review this weekly docket to anticipate pending judicial and congressional actions that may alter core tax, environmental, and agribusiness compliance obligations.

The August 10, 2026 edition of this weekly Brazilian legal docket previews cases and bills scheduled for review between August 10 and 14, 2026 across Brazil’s Supreme Court (STF), Superior Court of Justice (STJ), Court of Accounts (TCU), and federal legislature. Key items include STF challenges to state agro-industrial tax incentives and ICMS origin-based benefits, a federal rule shifting tax deposit correction from the SELIC rate to the IPCA index, challenges to simplified environmental licensing laws, a new federal fertilizer industry support bill, and disputes over indigenous land governance frameworks. In-house counsel with Brazilian operations should review relevant scheduled items to assess potential impacts on tax planning, compliance programs, and operational licensing requirements, and prepare for upcoming ruling or legislative outcomes.

brazil-legal-updatetax-regulatoryenvironmental-licensingagribusiness-policystf-docket
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10 — SECURITIES / CAPITAL MARKETS1
Troutman Pepper Locke+ Expand
SEC Launches Dedicated Financial Reporting Enforcement Unit

Public company in-house legal, accounting, and finance leaders must prepare for heightened SEC scrutiny of financial reporting and accounting practices following the creation of a dedicated enforcement unit for these areas.

On August 5, the SEC announced the formation of a new specialized unit within its Division of Enforcement focused exclusively on financial reporting and accounting violations. The unit will consolidate existing enforcement expertise to pursue cases related to issuer disclosures, accounting fraud, and audit-related misconduct, signaling a strategic agency shift to prioritize these high-priority areas. Public companies should review their internal accounting controls, disclosure review processes, and whistleblower protocols to mitigate enforcement risk, and in-house legal teams should prepare for more targeted SEC information requests and inquiries related to financial reporting practices.

sec-enforcementfinancial-reportingaccounting-compliancepublic-company-disclosure
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11 — WHITE COLLAR / INVESTIGATIONS1
BakerHostetler+ Expand
Expanded CIPA Use Shifts Discovery, Timing for Non-National Security Criminal Cases

In-house counsel for companies facing sanctions, export controls, FCPA or related criminal investigations must account for expanded CIPA application, which introduces procedural hurdles that delay proceedings and restrict access to relevant evidence.

Once limited to a small number of national security prosecutions, the Classified Information Procedures Act (CIPA) is now increasingly invoked in non-security criminal cases including sanctions and tariff evasion, export controls violations, narcotics trafficking, and Foreign Corrupt Practices Act (FCPA) matters. This shift adds significant complexity to criminal proceedings, as CIPA rules govern if, when, and how classified information can be introduced as evidence, while also imposing strict timelines for discovery disputes related to classified material. In-house counsel for companies operating in regulated sectors should work with outside litigation counsel to develop early CIPA response protocols, assess potential classified evidence exposure during internal investigations, and build trial strategies that account for CIPA’s evidentiary and timing restrictions.

cipaclassified-informationwhite-collar-investigationsexport-controlsfcpa
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