DROPLETS
A new executive order authorizes the Department of Energy to prohibit or unwind transactions for foreign-produced bulk-power system equipment, citing national security risks.
President Trump has issued an executive order declaring a national emergency to address security risks in the U.S. bulk-power system supply chain. The order, grounded in the International Emergency Economic Powers Act, authorizes the Department of Energy (DOE) to prohibit, condition, or unwind transactions involving electric-grid equipment sourced from designated foreign adversaries. This authority applies to transactions initiated after August 26, 2026. The administration cited growing electricity demand from AI, data centers, and advanced manufacturing as magnifying the potential consequences of supply-chain vulnerabilities.
This creates significant regulatory uncertainty for utilities, power producers, transmission developers, and equipment manufacturers. Companies may face increased scrutiny of their sourcing decisions, potentially leading to project delays and a need to find alternative suppliers for critical components like transformers and control systems. The order could also affect large-load interconnections for facilities like data centers.
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A new multi-agency initiative, 'Operation Economic Outcast,' signals a 'zero-leakage' enforcement posture against non-U.S. entities that facilitate Iranian trade.
The U.S. government has significantly escalated its economic pressure campaign against Iran through a new multi-agency initiative, "Operation Economic Outcast." Announced on August 24, 2026, the program explicitly targets third-country "enablers" that help Iran evade existing restrictions. The Treasury and State Departments unveiled a sweeping set of measures, including new sectoral sanctions targeting Iran’s digital assets, technology, gold, aviation, and shipping sectors. Additionally, regulators designated nearly 90 entities, individuals, and vessels across a dozen countries, suspended five general licenses authorizing certain educational and personal transactions, and issued new guidance on sanctions risks related to payments for passage through the Strait of Hormuz. In a related move, Treasury's Financial Crimes Enforcement Network (FinCEN) identified a UAE-based bank as a primary money laundering concern under Section 311 of the USA PATRIOT Act. The "zero-leakage" enforcement posture and diplomatic ultimatums to third countries signal a heightened risk for any non-U.S. company
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The California Air Resources Board has released additional guidance and a new voluntary intake platform for corporate greenhouse gas emissions reports due November 10 under SB 253.
The California Air Resources Board (CARB) released new guidance and a voluntary reporting platform for the inaugural reports under the state's SB 253 climate disclosure law, due November 10, 2026. This development is critical for the thousands of public and private companies with significant operations in California that are now subject to broad greenhouse gas (GHG) emissions reporting. The guidance clarifies compliance pathways for the initial reporting year, reaffirming CARB’s previously announced enforcement discretion. For 2026, companies can submit existing Scope 1 and Scope 2 data without penalty for lacking third-party assurance; those not collecting data as of December 2024 can submit a non-reporting statement. The new online platform is optional and designed to streamline submissions and fee collection. Counsel should advise clients to evaluate the guidance immediately to determine their 2026 reporting approach while closely tracking CARB’s separate, ongoing rulemaking process that will establish permanent, more stringent requirements, including for Scope 3 emissions, for 20
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The U.S. Food and Drug Administration has issued a discussion paper outlining potential regulatory approaches for medical devices that incorporate generative artificial intelligence.
The U.S. Food and Drug Administration (FDA) has taken a significant step toward creating a regulatory pathway for generative AI in healthcare, releasing a discussion paper on August 18, 2026, that seeks stakeholder feedback. The paper outlines the agency's initial thinking on a risk-based framework for generative AI-enabled medical devices, addressing key areas such as pre-market review standards, post-market monitoring requirements, and the complexities of using third-party foundation models.
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A US Department of Homeland Security proposal would end the 60-day grace period for certain nonimmigrant workers after job loss, reducing flexibility for both employees and employers.
The US Department of Homeland Security (DHS) has proposed a rule to eliminate the 60-day grace period currently available to certain nonimmigrant workers following the end of their employment. The proposal, which has cleared Office of Management and Budget review, would affect individuals in E-1, E-2, E-3, H-1B, H-1B1, L-1, O-1, and TN status.
Since 2017, this discretionary grace period has provided a critical window for sponsored employees to find new work, apply for a change of status, or make arrangements to depart the US without immediately falling out of lawful status. Sophisticated counsel and clients care because its elimination would introduce significant uncertainty and risk into workforce management. It would compress hiring timelines for new employers and complicate severance and transition planning for companies conducting layoffs. Foreign national employees facing job loss would have substantially less time to secure a new sponsored position, potentially jeopardizing their ability to remain in the US and disrupting long-term residency plans.
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The Court of Chancery awarded a $120 million post-trial fraud verdict against a buyer, holding that misrepresentations of present fact made outside the contract are actionable absent a specific, mutual anti-reliance clause.
In a consequential application of the Delaware Supreme Court's recent holding in 'Fortis,' the Court of Chancery awarded a $120 million post-trial verdict against private equity buyers for fraudulently inducing a deal. The court found in 'In re SwervePay Acquisition' that the buyers misrepresented existing payment volumes—a key metric for the sellers' earnout—using an investment-bank estimate they knew internally was a "red herring" and substantially higher than the actual figures.
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A company may be liable for false advertising claims on third-party websites it links to as part of its promotional messaging, a federal appeals court held.
In KetoNatural Pet Foods v. Hill’s Pet Nutrition, the US Court of Appeals for the Tenth Circuit rejected the informal “two-click rule,” a long-standing assumption that companies could avoid liability for claims made on third-party websites. The court held that a business can be liable for false advertising under the Lanham Act when it intentionally incorporates third-party content into its marketing through hyperlinks, effectively adopting the linked material as its own commercial speech. The ruling replaces the simplistic 'click-counting' framework with a functional test: whether the linked content is part of the company's promotional message. This decision has broad implications beyond competitor advertising disputes, creating potential new risks for companies regulated by the FDA and FTC, as well as those facing state consumer protection laws and class actions. Companies in sectors like dietary supplements, food, and pharmaceuticals, which often link to scientific literature, face heightened scrutiny. The key takeaway is that click distance no longer provides a reliable safe har
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The UK Supreme Court has ruled that part-time status need only be an "effective cause," not the "sole reason," for less favorable treatment, significantly lowering the bar for discrimination claims.
In 'Augustine v Data Cars Ltd,' the UK Supreme Court has held that claims under the Part-time Workers (Prevention of Less Favourable Treatment) Regulations 2000 no longer require proof that an employee's part-time status was the "sole reason" for the detrimental treatment. Instead, a claimant need only show that their status was an "effective cause." The case involved a private hire driver challenging a flat weekly fee for a booking system, which was disproportionately costly for him compared to full-time drivers.
The ruling overturns prior case law that had set a higher causation standard, significantly widening the scope for potential discrimination claims. Sophisticated counsel and clients should care because this change exposes employers to new liability risks, particularly regarding company-wide policies that apply flat fees, charges, or benefits to all employees without regard to their hours. Such uniform treatment may now be viewed as discriminatory.
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The U.S. Treasury has issued proposed rules to implement the GENIUS Act, defining when stablecoin issuers must obtain a federal license and how foreign-issued stablecoins can be offered in the U.S.
The U.S. Department of the Treasury has issued a Notice of Proposed Rulemaking (NPRM) to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The proposed rules focus on clarifying critical jurisdictional terms, such as what constitutes “issuing a payment stablecoin in the United States” and what it means to “offer or sell” one to a person in the U.S.
These definitions are fundamental to the new regulatory framework. They will determine which stablecoin issuers must obtain a U.S. license and under what conditions digital asset service providers can offer foreign-issued stablecoins in the American market. The GENIUS Act, enacted in July 2025, creates a comprehensive licensing regime for payment stablecoins, and this NPRM is a key step in its operationalization. It will affect all participants in the digital asset ecosystem, from issuers and exchanges to investors and traditional financial institutions exploring the space.
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The Delaware Court of Chancery reinforced the high pleading standard for alleging a "control group" in a take-private merger, holding that a fully informed, uncoerced stockholder vote cleansed the transaction of director-level conflicts.
The Delaware Court of Chancery dismissed a shareholder class action challenging the take-private acquisition of KnowBe4. Plaintiffs alleged that two institutional investors and the CEO, who collectively agreed to roll over a portion of their equity, formed a "control group" that subjected the deal to Delaware’s stringent entire fairness standard of review. Chancellor Kathaleen McCormick, however, found the plaintiffs failed to plead an "actual agreement to work together" beyond parallel economic interests, reinforcing the high bar for such claims.
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The Financial Conduct Authority has removed the mandatory seven-day waiting period for IPO research and the equal-information rule for unconnected analysts, aiming to shorten deal timelines and reduce execution risk.
In a bid to bolster the competitiveness of UK capital markets, the Financial Conduct Authority (FCA) has eliminated two key restrictions on the equity IPO process, effective August 5, 2026. Per Policy Statement PS26/16, the FCA has scrapped the mandatory seven-day waiting period between the publication of a prospectus and the release of connected research. It also removed the requirement for firms to share the same information with unconnected analysts that they provide to their own connected analysts.
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An August 26 executive order declares a national emergency to secure the US bulk-power system, with expected impacts on utilities, project developers, and the supply chain.
On August 26, 2026, the White House issued Executive Order 14420, declaring a national emergency to address threats to the United States' bulk-power system. While the source material provides few specifics on the order's contents, such a declaration typically grants the executive branch broad authority to implement protective measures. For sophisticated counsel and their clients, this action signals imminent and significant regulatory changes. Utilities, energy project developers, equipment manufacturers, and investors must prepare for potential new prohibitions on certain transactions, heightened cybersecurity mandates, and increased federal scrutiny of supply chains for critical grid components. The order could disrupt ongoing projects and create substantial new operational, compliance, and legal risks. Counsel should advise clients to immediately begin assessing their procurement strategies and supply-chain vulnerabilities while closely monitoring for implementing regulations and guidance from the Department of Energy and other federal agencies.
The Pennsylvania Department of State has sued Character Technologies, Inc., alleging one of its AI chatbots falsely claimed to be a licensed psychiatrist, a novel use of professional-licensing laws to regulate AI.
The Pennsylvania Department of State has sued Character Technologies, Inc., alleging a chatbot on its Character.AI platform violated the state's Medical Practice Act. According to the state's petition, an investigator interacted with a chatbot named "Emilie" that held itself out as a Pennsylvania-licensed psychiatrist, provided a fraudulent license number, and offered to conduct a medical assessment for depression.
This enforcement action is significant because it applies existing professional-licensing laws to AI-generated content, bypassing the need for new AI-specific legislation. The state's legal theory focuses on the chatbot's misrepresentation of its credentials, not on whether its advice was accurate or caused harm. This approach could serve as a model for other states and for regulators overseeing other licensed professions, such as law and finance. It creates a new dimension of risk for companies that develop or deploy consumer-facing AI, suggesting that general disclaimers may not be enough to shield a platform from liability for specific representations made by its AI. A
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The Department of Homeland Security has proposed a new $103,265 filing fee for new cap-subject H-1B petitions, a move that would significantly alter the cost of sponsoring foreign talent.
The US Department of Homeland Security (DHS) has issued a notice of proposed rulemaking to add a new $103,265 fee for each H-1B cap-subject petition. This fee would be in addition to all existing government filing charges and would apply to both regular cap and advanced-degree exemption petitions. The proposal explicitly excludes cap-exempt petitions, such as those for universities and certain research organizations, as well as petitions for H-1B extensions, amendments, or changes of employer.
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Washington's Attorney General has released the state's first data privacy report, calling for comprehensive legislation and signaling increased enforcement focus on data brokers and sensitive data.
On August 14, 2026, the Washington Attorney General released the state's first Data Privacy Report, renewing the call for a comprehensive privacy statute and outlining current enforcement priorities. The report highlights the irony that Washington, whose proposed Privacy Act has been a model for laws in other states, still lacks such a law itself after repeated legislative failures.
Sophisticated counsel should note the report’s specific targets: overcollection of data, deceptive design or "dark patterns," the sale of sensitive data like biometrics and geolocation, and the data-broker industry. The AG's office recommends legislation mandating data minimization, informed consent, and stronger protections for sensitive information. It also signals an intent to use existing authority for enforcement, even before a new law is passed, citing FTC actions against data brokers selling location data from sensitive places like reproductive health clinics.
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Following the confirmation of a new Republican board majority, the National Labor Relations Board's general counsel has issued a memorandum outlining plans to challenge key union-friendly precedents.
The General Counsel of the National Labor Relations Board has issued Memorandum GC 26-04, signaling a pivot from prioritizing the agency's case backlog to actively seeking the reversal of key Biden-era precedents. The move follows the recent confirmation of a third Republican member to the five-person Board, creating a new majority widely expected to be more employer-friendly. The GC's memo identifies specific, high-impact decisions as targets for challenges, including the 'Cemex' standard for issuing bargaining orders, limitations on unilateral employer actions during initial contract negotiations, and expanded monetary relief for unfair labor practices. This shift marks a significant development for employers, potentially re-opening the door to more favorable standards on work rules, captive audience meetings, and other critical labor relations issues. Counsel should monitor cases flagged by the GC's office as potential vehicles for overturning these precedents and advise clients on how these potential changes could affect union organizing campaigns and collective bargaining strate
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The US Department of Commerce seeks participants for a pilot program to test its new certification framework for novel space activities not covered by existing regulations, including satellite servicing and in-space manufacturing.
The U.S. Department of Commerce’s Office of Space Commerce (OSC) is seeking companies to participate in a pilot program for its new Space Commerce Certification (SCC) framework. Expressions of interest are due by October 5, 2026.
The SCC framework is designed to create a streamlined, "light-touch" regulatory pathway for novel commercial space activities not governed by existing rules. These include operations like in-space manufacturing, orbital datacenters, satellite servicing, and lunar missions. The goal is to provide regulatory certainty and facilitate approvals for these emerging industries. Under the proposed process, the OSC would circulate applications to agencies like the FCC, FAA, and NASA for review, aiming for a certification decision within 120 days if no national security or other concerns are raised.
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The SEC alleges a subprime auto lender's former executives sold over $1.9 billion in asset-backed securities while systematically pledging the same collateral multiple times and using uncollectible "dead loans" to back the offerings.
The SEC has charged the former CEO, CFO, and a senior finance director of a bankrupt Texas-based subprime auto lender with a multi-year securities fraud. The complaint, filed in the Southern District of New York, alleges the executives raised over $1.9 billion through asset-backed securities (ABS) while misrepresenting the underlying collateral. Sophisticated counsel and clients in the structured finance space should note the SEC's focus on two core fraudulent practices: "double pledging," where the same auto loans were pledged as collateral to multiple investor pools and warehouse lenders simultaneously, and the inclusion of ineligible or nonexistent "dead loans" in the collateral base. To conceal the scheme, which allegedly created an $800 million collateral shortfall, the executives are accused of falsifying monthly servicing reports. The action, which parallels an existing criminal case, highlights the critical importance of due diligence for all parties in a securitization and underscores the governance risks for public companies when their directors are involved in outside busi
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A federal appeal over a voided tariff moratorium could impose major retroactive duties on solar modules, creating a critical risk allocation issue for project contracts, M&A, and financing.
A U.S. Court of International Trade (CIT) decision that struck down the Biden administration's two-year suspension of certain solar tariffs has created significant uncertainty for the renewables industry. The ruling, which is now being challenged at the U.S. Court of Appeals for the Federal Circuit, could lead to the imposition of substantial retroactive antidumping and countervailing duties on solar products imported from Southeast Asia between 2022 and 2024. Although the federal government has withdrawn from the appeal, industry groups are pressing on, and collection of the duties remains stayed.
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A new executive order directs the Secretary of Energy to prohibit the import and installation of certain bulk-power system electrical equipment from China and other designated foreign adversaries, citing national security risks.
President Trump issued Executive Order 14421 on August 26, 2026, targeting national security threats to the U.S. power grid. The order authorizes the Secretary of Energy to prohibit U.S. persons from acquiring, importing, or installing bulk-power system equipment—such as transformers, inverters, and control systems—designed or supplied by entities controlled by or subject to the jurisdiction of foreign adversaries, including China and Russia.
The order creates significant uncertainty for energy project developers, suppliers, and contractors who rely on global supply chains. While it imposes no immediate obligations until the Department of Energy issues implementing regulations, which are due by December 24, 2026, it signals a major shift in procurement policy for critical infrastructure. The forthcoming rules may also impose conditions on the continued use of previously installed equipment from covered suppliers.
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Technology companies that provide digital tools to state and local governments face growing contractual and procurement burdens to ensure compliance with web accessibility standards.
A 2024 Department of Justice final rule requires state and local government web content and mobile apps to be accessible to people with disabilities, setting compliance deadlines for 2027 and 2028. In anticipation, public entities are shifting the legal and operational burden for compliance to their third-party information and communications technology (ICT) vendors.
Clients who sell technology to the public sector must now navigate more stringent procurement processes and contractual terms. States including New York, Texas, and Virginia are increasingly requiring vendors to provide accessibility documentation, such as Voluntary Product Accessibility Templates (VPATs) and Accessibility Conformance Reports (ACRs), and to commit to remediation roadmaps. This trend exposes vendors to new risks, including loss of contracts and liability for non-compliance.
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A federal court has rejected dormant Commerce Clause and due process challenges to Oregon's plastics recycling law, a key test case for similar extended producer responsibility programs nationwide.
In the first federal court test of a state extended producer responsibility (EPR) law, a judge has upheld Oregon’s Plastic Pollution and Recycling Modernization Act (RMA). The ruling in National Ass’n of Wholesale Distributers v. Feldon rejected industry claims that the law violates the US Constitution's dormant Commerce Clause and Due Process Clause. This decision is significant for businesses nationwide as several other states, including California, Colorado, and Washington, have enacted similar product-stewardship laws, and this case provides insight into how those statutes may withstand legal challenges.
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The Department of Justice is increasing manpower and data-driven resources to combat fraud in federal programs, with a particular focus on schemes involving foreign nationals.
The U.S. Department of Justice is intensifying its efforts to combat fraud in federal programs, signaling a significant risk for any organization that receives government funds. The DOJ's National Fraud Enforcement Division is dedicating increased manpower and deploying sophisticated data-driven tools to proactively identify and prosecute misconduct. This renewed emphasis heightens the compliance burden for government contractors, healthcare providers, research institutions, and any other recipients of federal grants or relief. Sophisticated counsel should note the specific focus on schemes involving foreign nationals, which adds a layer of complexity related to cross-border investigations and sanctions compliance. Businesses should review their internal controls and fraud detection protocols, as the government’s enhanced analytical capabilities mean that irregularities are more likely to be flagged. This enforcement push suggests that clients should prepare for a new wave of audits, subpoenas, and civil or criminal investigations under statutes like the False Claims Act.
The Departments of Education and Justice are leveraging FERPA and Title IX to challenge state-level policies that limit parental notification regarding student gender transitions, citing recent Supreme Court support.
Federal agencies are escalating enforcement related to parental rights and student gender identity in schools, creating a direct conflict with some state laws. The U.S. Department of Education’s privacy office found California policies that conceal student gender transitions from parents violate the Family Educational Rights and Privacy Act (FERPA). Separately, the Justice Department’s Civil Rights Division has launched a Title IX compliance review of four California school districts concerning instruction on gender ideology and parental opt-out rights. These actions are bolstered by recent Supreme Court decisions, including Mirabelli v. Bonta, which affirmed broad parental rights under the Constitution. School districts nationwide that receive federal funds face heightened legal exposure, as federal authorities have signaled that conflicting state laws will not excuse noncompliance with FERPA and Title IX. Counsel for educational institutions should immediately review policies on student records, parental notification, and curriculum transparency. The key developments to watch are t
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New legislation establishes specialized senates at Higher Regional Courts to hear complex commercial cases, including post-M&A matters, that have traditionally been resolved by arbitral tribunals.
New German legislation, effective April 1, 2025, has established specialized Commercial Courts as senates within the country's Higher Regional Courts. This development creates a significant new state-run forum for complex commercial disputes, including post-M&A matters, that have historically been the domain of private arbitration. The introduction of these courts is a strategic move by Germany to bolster its position as a key venue for international dispute resolution. For major-firm clients, this presents a new and potentially advantageous option when structuring dispute resolution clauses in contracts with a German nexus. The courts are designed to be efficient and will be staffed by experienced judges, offering a credible alternative to arbitration. Counsel should now consider the German Commercial Courts as a viable option during contract negotiation and assess their potential benefits, such as cost and procedural differences, compared to arbitration. The key next step is to monitor early case law and the business community's adoption of this new forum to gauge its long-term imp
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A new independent report recommends expanding the SFO's powers, creating financial rewards for whistleblowers, and improving public-private data sharing to combat fraud.
An independent review by Jonathan Fisher KC has proposed a significant overhaul of the UK's fraud enforcement landscape. The report, the second from the review, recommends against rewriting the Fraud Act 2006, instead focusing on practical enforcement challenges. Key proposals include introducing a statutory scheme for financial rewards for Serious Fraud Office (SFO) whistleblowers, an idea the agency has lobbied for. It also suggests expanding the SFO's powers to compel the production of evidence from overseas entities with a "sufficient UK connection," reducing reliance on slower mutual legal assistance treaties.
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Recent federal actions prohibiting certain foreign-made equipment in US energy infrastructure are causing significant uncertainty for project developers and investors.
The U.S. government has initiated actions to prohibit certain foreign-manufactured equipment from being used in the nation's bulk-power system, citing national security concerns. While the full scope of the prohibitions is still emerging, these measures are creating significant uncertainty across the energy sector. Project developers, investors, and equipment suppliers now face potential supply chain disruptions, cost increases, and project delays. For major law firm clients involved in energy infrastructure, from renewable generation to transmission projects, the immediate challenge is assessing exposure. Existing and planned projects may rely on components that could fall under the new restrictions, potentially requiring costly and time-consuming re-engineering or supplier changes. Sophisticated counsel should be advising clients to immediately review their supply chain contracts and assess the geographic origin of critical components. The key development to watch will be the issuance of detailed regulations and lists of prohibited equipment or suppliers by federal agencies, which
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IRS Notice 2026-50 extends and expands the Section 45Q safe harbor for secure geological storage, including enhanced oil and gas recovery projects, until further guidance is issued.
On August 14, 2026, Treasury and the IRS released Notice 2026-50, meaningfully broadening the interim Section 45Q carbon capture safe harbor first introduced in Notice 2026-1. The expansion responds to EPA's September 2025 proposed rule removing Subpart RR reporting obligations and to EPA's February 2026 final rule delaying 2025 Annual Report submissions until October 30, 2026. Notice 2026-50 now extends the safe harbor to qualified carbon oxide used as a tertiary injectant in enhanced oil or natural gas recovery projects and confirms reliance is permitted to determine recapture amounts under Treas. Reg. Section 1.45Q-5(a) and (c). The relief also extends beyond calendar year 2025, applying for each reporting year in which EPA fails to launch its e-GGRT system by March 31 of the following year, and remains available until Treasury and the IRS publish further interim guidance or proposed regulations. Sophisticated counsel advising CCS developers, oil and gas operators with EOR/EGR projects, and energy-transition investors should review compliance steps: secure geological storage under
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A unanimous Supreme Court held the SEC may seek disgorgement of a defendant's wrongful gains without proving investors suffered financial loss, resolving a circuit split in the agency's favor.
In Sripetch v. SEC, the U.S. Supreme Court unanimously held that the Securities and Exchange Commission may obtain disgorgement of a wrongdoer's profits without proving that investors suffered any corresponding financial loss. The opinion by Justice Gorsuch, grounded in traditional equitable principles, reasoned that disgorgement is a gain-based remedy measured by the defendant's unjust enrichment, not a loss-based remedy designed to compensate victims. The ruling resolves a circuit split in the agency's favor and significantly strengthens its enforcement powers, particularly in cases like market manipulation or unregistered offerings where proving direct investor loss is difficult. While the decision solidifies a key SEC remedy, a concurrence from Justice Thomas forcefully argued that congressional amendments may have converted disgorgement into a legal remedy. This would trigger the Seventh Amendment right to a jury trial in SEC enforcement actions seeking the remedy, a question that is already the subject of a circuit split and is likely to return to the Court. Counsel for defen
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The U.S. Federal Maritime Commission chair has raised the possibility of investigating the IMO's proposed shipping decarbonization framework if its costs harm U.S. foreign commerce.
The International Maritime Organization's (IMO) proposed Net-Zero Framework (NZF), which aims to decarbonize global shipping through emissions limits and carbon pricing, is facing scrutiny from the U.S. Federal Maritime Commission (FMC). The framework could significantly increase shipping costs for U.S. importers and exporters via fuel mandates and financial penalties for non-compliance, such as a proposed $380 per tonne of CO2 equivalent. These costs, if passed on by carriers, could be deemed unjust practices under the U.S. Shipping Act. FMC Chair Ann-Dora DiBella has publicly stated the framework could trigger an investigation under the FMC's seldom-used Section 19 authority, which addresses foreign laws or practices unfavorable to U.S. trade. Such a finding could lead to significant remedies, including per-voyage fees up to $1 million or denial of U.S. port entry. Counsel for carriers and shippers should monitor upcoming IMO negotiations and the FMC's posture, as what began as a global climate initiative could become a contentious U.S. trade policy dispute requiring contractual ri
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The DOJ's recently formed National Fraud Enforcement Division will use advanced data analytics to pursue healthcare fraud, according to a new memorandum from its leadership.
A memorandum from Assistant Attorney General Colin M. McDonald details the enforcement priorities for the Department of Justice’s new National Fraud Enforcement Division, established earlier this year. The memo designates healthcare fraud as a central pillar of the division's mandate and signals a significant investment in prosecutorial resources and technology. Sophisticated clients and their counsel should take note of the division’s plan to deploy advanced data analytics to proactively identify exploitative schemes, a strategy building on the successful Healthcare Fraud Strike Force model. Specific areas of heightened scrutiny will include telemedicine, Medicare and Medicaid billing, the diversion of controlled substances, and home health and hospice programs. The division, which is rapidly expanding its roster of attorneys, is poised to increase enforcement actions significantly. Healthcare entities should consider reviewing their compliance programs and billing practices in light of these announced priorities, particularly in areas susceptible to data-driven detection.
The 2025 CFIUS annual report shows a rise in total filings driven by declarations, but the clearance rate for these short-form submissions fell from 78% to 66%, signaling greater scrutiny and potential deal delays for foreign investors.
The Committee on Foreign Investment in the United States' (CFIUS) annual report for calendar year 2025 shows a 7% increase in total filings, driven by a sharp rise in short-form declarations. However, the data reveals tougher scrutiny, as the proportion of declarations cleared by the Committee fell from approximately 78% in 2024 to 66% in 2025. Consequently, CFIUS requested parties to submit a more extensive full notice in 26% of declaration cases, up from 15% the prior year, creating potential for significant deal delays.
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Seven US agencies have jointly rescinded a 2022 statement that provided regulatory assurance for special purpose credit programs, requiring lenders to reevaluate any programs that use protected characteristics as eligibility criteria.
A group of seven federal agencies, including the CFPB, FDIC, OCC, and DOJ, has jointly rescinded the 2022 “Interagency Statement on Special Purpose Credit Programs,” removing a key source of regulatory assurance for lenders. The 2022 statement had encouraged financial institutions to develop SPCPs to meet the needs of underserved communities, suggesting that programs using protected characteristics like race or sex as eligibility criteria could be permissible under the Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA).
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The US Department of Justice has created a permanent section to prosecute trade and customs fraud, releasing a new guide that emphasizes False Claims Act liability for corporate importers.
The US Department of Justice (DOJ) has established the permanent Global Trade & Commerce Enforcement Section (GTCES) to investigate and prosecute criminal import, trade, and customs fraud. Working with the Department of Homeland Security, the DOJ also released "A Resource Guide to Trade Fraud Enforcement," its first comprehensive framework on the topic.
This development signals a heightened and enduring government focus on trade compliance. The guide specifically emphasizes the use of the False Claims Act (FCA), including its "reverse false claim" provision, to pursue customs fraud, tariff evasion, and duty underpayment. This substantially increases financial risk for companies, as the FCA allows for treble damages and significant civil penalties, and enables qui tam lawsuits. Corporate counsel should note the guide's focus on robust internal compliance, active supply chain auditing, and the benefits of the DOJ's voluntary self-disclosure policy. Companies should review their trade compliance programs in light of these announced priorities.
A first-of-its-kind ruling rejected dormant Commerce Clause and due process challenges, bolstering similar producer-pays recycling laws in California and Colorado.
A U.S. District Court in Oregon has upheld the state's Recycling Modernization Act, rejecting claims that the landmark Extended Producer Responsibility (EPR) law violates the dormant Commerce Clause and the Due Process Clause. The ruling is the first of its kind to address the constitutionality of a comprehensive packaging EPR statute in the United States. The plaintiff, the National Association of Wholesaler-Distributors, argued the law discriminated against interstate commerce and improperly delegated regulatory authority to a private producer-responsibility organization.
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A bill awaiting the governor's signature would grant New York employees broad access to their personnel files and require employers to provide notice of any negative additions.
The New York Legislature has passed a bill, now awaiting the governor's signature, that would substantially expand employee rights concerning personnel records. If signed into law, the amendments to the New York Labor Law would create significant new compliance burdens for employers, including granting current and former employees broad access to and the right to copy their personnel files. Perhaps most notably, the bill mandates that employers notify employees within 10 days whenever any negative information is added to their record. This notice must also advise employees of their right to submit a written rebuttal, which the employer would be required to keep in the file. The changes could increase administrative costs and the likelihood of employment disputes. New York employers should watch for Governor Kathy Hochul's decision. If the bill becomes law, covered employers will have just 60 days to establish compliant procedures for record retention, access, and the new adverse-information notification process or face monetary penalties.
The U.S. Equal Employment Opportunity Commission has adopted a new five-year strategic plan that prioritizes systemic enforcement, non-monetary relief in resolutions, and enhanced post-settlement monitoring.
The U.S. Equal Employment Opportunity Commission has adopted its Strategic Plan for Fiscal Years 2026–2030, a blueprint that will guide agency enforcement and operations for the next half-decade. Sophisticated employers and their counsel should take note, as the plan signals a more focused, data-driven, and demanding enforcement posture. Key performance metrics include requiring non-monetary “targeted, equitable relief,” such as policy changes and training, in 97% of all resolutions and maintaining a 90% litigation success rate. This suggests the agency will be highly selective in the cases it brings to court but will push for comprehensive, structural remedies when it settles or litigates. The plan also prioritizes systemic cases involving ten or more individuals and commits to more robustly monitoring conciliation agreements. For employers, this means charges aligning with agency priorities will receive intense scrutiny, and any resolution will likely involve ongoing obligations. The EEOC’s focus on filling investigator and attorney roles and modernizing its intake process further
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A Delaware court has refused to dismiss claims that a strategic investor and its board designee misused contractual veto rights as part of an alleged 'catch and kill' scheme.
A Delaware Court of Chancery decision is serving as a cautionary tale for strategic investors, allowing a startup to proceed with claims that an investor abused its governance rights in a “catch and kill” scheme. In Zync, Inc. v. Porsche Investments Management, S.A., the court denied a motion to dismiss, finding it plausible that an investor and its board designee used contractual veto rights to block crucial financing and an acquisition, not for legitimate business reasons, but to access the startup’s technology and then shutter it to harm competitors.
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The FCC has barred new authorizations for foreign-made advanced robotics and power inverters, citing national security and creating urgent supply-chain diligence obligations for key industries.
The US Federal Communications Commission (FCC) has added foreign-produced advanced robotic devices and power inverters to its “Covered List,” which designates communications equipment and services that pose an unacceptable risk to national security. The action, which took effect in July 2026, prohibits the FCC from authorizing any new models of such equipment for importation or sale in the United States. The ban does not affect equipment that received FCC authorization before the rule change.
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A recent Eleventh Circuit decision rejected a constitutional challenge to the False Claims Act, affirming that private whistleblowers may continue to bring suits on behalf of the government.
The US Court of Appeals for the Eleventh Circuit has rejected a significant constitutional challenge to the False Claims Act, holding that its qui tam provisions do not violate the Appointments Clause. This decision affirms the long-standing practice of allowing private whistleblowers, known as relators, to sue on behalf of the government and share in any recovery. The defendants had argued that empowering private citizens to conduct litigation in the government's name unconstitutionally infringes upon the executive branch's authority. This ruling is a major setback for government contractors and other organizations in the healthcare, life sciences, and defense industries that had hoped to dismantle the primary enforcement mechanism of the FCA. The decision aligns with previous rulings from other federal circuits, solidifying the legal foundation of the qui tam framework for now. Counsel for companies facing FCA scrutiny should note that this constitutional defense is currently unviable in the Eleventh Circuit. The key development to watch is whether a different circuit court accepts
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The U.S. Securities and Exchange Commission has proposed a new registration-exemption and safe-harbor framework for certain investment contracts involving crypto assets.
The U.S. Securities and Exchange Commission on August 18, 2026, proposed 'Regulation Crypto Assets,' a tailored framework for offerings of certain investment contracts involving crypto assets. The proposal, if adopted, would create two new exemptions from Securities Act registration: a 'startup exemption' for offerings up to $5 million over four years and a Regulation A-style 'fundraising exemption' for offerings up to $75 million in a 12-month period.
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A new report proposes extending corporate criminal liability to online platforms in the UK for failing to prevent fraud by their third-party users, raising significant compliance questions.
A report by Jonathan Fisher KC, 'Fraud in the Digital Age,' proposes creating a new corporate criminal offence in the UK for providers of regulated user-to-user services who fail to prevent fraud committed by their users. This would extend the 'failure to prevent' liability model, recently expanded under the Economic Crime and Corporate Transparency Act 2023, from acts by a company's 'associated persons' to those of independent third-party users.
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Data center developers in Texas face significant delays and new political risks after a gubernatorial directive prompted the state's grid operator to pause approvals for large facilities.
A directive from Texas Governor Greg Abbott has upended the data center development landscape by requiring a new audit and verification process for facilities seeking to connect to the state's power grid. In response, the Electric Reliability Council of Texas (ERCOT) has paused approvals for energizing new large-load data centers and crypto-mining operations of 75 megawatts or more and has delayed its "Batch Zero" interconnection study process.
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Treasury's August 24 'Operation Economic Outcast' determinations expose both U.S. and non-U.S. persons in digital assets, tech, gold, aviation, and shipping to broadened Iran secondary sanctions.
On August 24, 2026, OFAC designated five new Iranian economy sectors—digital assets, technology, gold, aviation, and shipping—without specific definitions, signaling broad interpretation. OFAC simultaneously suspended five general licenses and issued General License BB, giving parties through September 8, 2026 to wind down previously authorized transactions. Approximately 60 entities, individuals, and 'shadow fleet' vessels were sanctioned, including Azure Shipping PTE. LTD. and several UAE- and Singapore-based bunkering providers, with the State Department layering additional designations under E.O. 13846 and E.O. 13949. Separate OFAC guidance flags primary and secondary sanctions risk for any toll payments, guarantees, insurance, or information exchanges demanded by Iranian regime actors in connection with Strait of Hormuz transit—even absent payment. Sophisticated counsel should advise shipping, aviation, fintech, and commodity clients that even non-U.S. persons face potential SDN designation, asset freezes, and license denials, and that enhanced diligence on counterparties touchi
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A new executive order authorizes the Department of Energy to prohibit or unwind transactions for foreign-produced bulk-power system equipment, citing national security risks.
President Trump has issued an executive order declaring a national emergency to address security risks in the U.S. bulk-power system supply chain. The order, grounded in the International Emergency Economic Powers Act, authorizes the Department of Energy (DOE) to prohibit, condition, or unwind transactions involving electric-grid equipment sourced from designated foreign adversaries. This authority applies to transactions initiated after August 26, 2026. The administration cited growing electricity demand from AI, data centers, and advanced manufacturing as magnifying the potential consequences of supply-chain vulnerabilities.
This creates significant regulatory uncertainty for utilities, power producers, transmission developers, and equipment manufacturers. Companies may face increased scrutiny of their sourcing decisions, potentially leading to project delays and a need to find alternative suppliers for critical components like transformers and control systems. The order could also affect large-load interconnections for facilities like data centers.
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The Court of Chancery awarded a $120 million post-trial fraud verdict against a buyer, holding that misrepresentations of present fact made outside the contract are actionable absent a specific, mutual anti-reliance clause.
In a consequential application of the Delaware Supreme Court's recent holding in 'Fortis,' the Court of Chancery awarded a $120 million post-trial verdict against private equity buyers for fraudulently inducing a deal. The court found in 'In re SwervePay Acquisition' that the buyers misrepresented existing payment volumes—a key metric for the sellers' earnout—using an investment-bank estimate they knew internally was a "red herring" and substantially higher than the actual figures.
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The Delaware Court of Chancery reinforced the high pleading standard for alleging a "control group" in a take-private merger, holding that a fully informed, uncoerced stockholder vote cleansed the transaction of director-level conflicts.
The Delaware Court of Chancery dismissed a shareholder class action challenging the take-private acquisition of KnowBe4. Plaintiffs alleged that two institutional investors and the CEO, who collectively agreed to roll over a portion of their equity, formed a "control group" that subjected the deal to Delaware’s stringent entire fairness standard of review. Chancellor Kathaleen McCormick, however, found the plaintiffs failed to plead an "actual agreement to work together" beyond parallel economic interests, reinforcing the high bar for such claims.
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A Delaware court has refused to dismiss claims that a strategic investor and its board designee misused contractual veto rights as part of an alleged 'catch and kill' scheme.
A Delaware Court of Chancery decision is serving as a cautionary tale for strategic investors, allowing a startup to proceed with claims that an investor abused its governance rights in a “catch and kill” scheme. In Zync, Inc. v. Porsche Investments Management, S.A., the court denied a motion to dismiss, finding it plausible that an investor and its board designee used contractual veto rights to block crucial financing and an acquisition, not for legitimate business reasons, but to access the startup’s technology and then shutter it to harm competitors.
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The UK Supreme Court has ruled that part-time status need only be an "effective cause," not the "sole reason," for less favorable treatment, significantly lowering the bar for discrimination claims.
In 'Augustine v Data Cars Ltd,' the UK Supreme Court has held that claims under the Part-time Workers (Prevention of Less Favourable Treatment) Regulations 2000 no longer require proof that an employee's part-time status was the "sole reason" for the detrimental treatment. Instead, a claimant need only show that their status was an "effective cause." The case involved a private hire driver challenging a flat weekly fee for a booking system, which was disproportionately costly for him compared to full-time drivers.
The ruling overturns prior case law that had set a higher causation standard, significantly widening the scope for potential discrimination claims. Sophisticated counsel and clients should care because this change exposes employers to new liability risks, particularly regarding company-wide policies that apply flat fees, charges, or benefits to all employees without regard to their hours. Such uniform treatment may now be viewed as discriminatory.
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Following the confirmation of a new Republican board majority, the National Labor Relations Board's general counsel has issued a memorandum outlining plans to challenge key union-friendly precedents.
The General Counsel of the National Labor Relations Board has issued Memorandum GC 26-04, signaling a pivot from prioritizing the agency's case backlog to actively seeking the reversal of key Biden-era precedents. The move follows the recent confirmation of a third Republican member to the five-person Board, creating a new majority widely expected to be more employer-friendly. The GC's memo identifies specific, high-impact decisions as targets for challenges, including the 'Cemex' standard for issuing bargaining orders, limitations on unilateral employer actions during initial contract negotiations, and expanded monetary relief for unfair labor practices. This shift marks a significant development for employers, potentially re-opening the door to more favorable standards on work rules, captive audience meetings, and other critical labor relations issues. Counsel should monitor cases flagged by the GC's office as potential vehicles for overturning these precedents and advise clients on how these potential changes could affect union organizing campaigns and collective bargaining strate
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A bill awaiting the governor's signature would grant New York employees broad access to their personnel files and require employers to provide notice of any negative additions.
The New York Legislature has passed a bill, now awaiting the governor's signature, that would substantially expand employee rights concerning personnel records. If signed into law, the amendments to the New York Labor Law would create significant new compliance burdens for employers, including granting current and former employees broad access to and the right to copy their personnel files. Perhaps most notably, the bill mandates that employers notify employees within 10 days whenever any negative information is added to their record. This notice must also advise employees of their right to submit a written rebuttal, which the employer would be required to keep in the file. The changes could increase administrative costs and the likelihood of employment disputes. New York employers should watch for Governor Kathy Hochul's decision. If the bill becomes law, covered employers will have just 60 days to establish compliant procedures for record retention, access, and the new adverse-information notification process or face monetary penalties.
The U.S. Equal Employment Opportunity Commission has adopted a new five-year strategic plan that prioritizes systemic enforcement, non-monetary relief in resolutions, and enhanced post-settlement monitoring.
The U.S. Equal Employment Opportunity Commission has adopted its Strategic Plan for Fiscal Years 2026–2030, a blueprint that will guide agency enforcement and operations for the next half-decade. Sophisticated employers and their counsel should take note, as the plan signals a more focused, data-driven, and demanding enforcement posture. Key performance metrics include requiring non-monetary “targeted, equitable relief,” such as policy changes and training, in 97% of all resolutions and maintaining a 90% litigation success rate. This suggests the agency will be highly selective in the cases it brings to court but will push for comprehensive, structural remedies when it settles or litigates. The plan also prioritizes systemic cases involving ten or more individuals and commits to more robustly monitoring conciliation agreements. For employers, this means charges aligning with agency priorities will receive intense scrutiny, and any resolution will likely involve ongoing obligations. The EEOC’s focus on filling investigator and attorney roles and modernizing its intake process further
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A new executive order authorizes the Department of Energy to prohibit or unwind transactions for foreign-produced bulk-power system equipment, citing national security risks.
President Trump has issued an executive order declaring a national emergency to address security risks in the U.S. bulk-power system supply chain. The order, grounded in the International Emergency Economic Powers Act, authorizes the Department of Energy (DOE) to prohibit, condition, or unwind transactions involving electric-grid equipment sourced from designated foreign adversaries. This authority applies to transactions initiated after August 26, 2026. The administration cited growing electricity demand from AI, data centers, and advanced manufacturing as magnifying the potential consequences of supply-chain vulnerabilities.
This creates significant regulatory uncertainty for utilities, power producers, transmission developers, and equipment manufacturers. Companies may face increased scrutiny of their sourcing decisions, potentially leading to project delays and a need to find alternative suppliers for critical components like transformers and control systems. The order could also affect large-load interconnections for facilities like data centers.
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An August 26 executive order declares a national emergency to secure the US bulk-power system, with expected impacts on utilities, project developers, and the supply chain.
On August 26, 2026, the White House issued Executive Order 14420, declaring a national emergency to address threats to the United States' bulk-power system. While the source material provides few specifics on the order's contents, such a declaration typically grants the executive branch broad authority to implement protective measures. For sophisticated counsel and their clients, this action signals imminent and significant regulatory changes. Utilities, energy project developers, equipment manufacturers, and investors must prepare for potential new prohibitions on certain transactions, heightened cybersecurity mandates, and increased federal scrutiny of supply chains for critical grid components. The order could disrupt ongoing projects and create substantial new operational, compliance, and legal risks. Counsel should advise clients to immediately begin assessing their procurement strategies and supply-chain vulnerabilities while closely monitoring for implementing regulations and guidance from the Department of Energy and other federal agencies.
Recent federal actions prohibiting certain foreign-made equipment in US energy infrastructure are causing significant uncertainty for project developers and investors.
The U.S. government has initiated actions to prohibit certain foreign-manufactured equipment from being used in the nation's bulk-power system, citing national security concerns. While the full scope of the prohibitions is still emerging, these measures are creating significant uncertainty across the energy sector. Project developers, investors, and equipment suppliers now face potential supply chain disruptions, cost increases, and project delays. For major law firm clients involved in energy infrastructure, from renewable generation to transmission projects, the immediate challenge is assessing exposure. Existing and planned projects may rely on components that could fall under the new restrictions, potentially requiring costly and time-consuming re-engineering or supplier changes. Sophisticated counsel should be advising clients to immediately review their supply chain contracts and assess the geographic origin of critical components. The key development to watch will be the issuance of detailed regulations and lists of prohibited equipment or suppliers by federal agencies, which
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Data center developers in Texas face significant delays and new political risks after a gubernatorial directive prompted the state's grid operator to pause approvals for large facilities.
A directive from Texas Governor Greg Abbott has upended the data center development landscape by requiring a new audit and verification process for facilities seeking to connect to the state's power grid. In response, the Electric Reliability Council of Texas (ERCOT) has paused approvals for energizing new large-load data centers and crypto-mining operations of 75 megawatts or more and has delayed its "Batch Zero" interconnection study process.
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The California Air Resources Board has released additional guidance and a new voluntary intake platform for corporate greenhouse gas emissions reports due November 10 under SB 253.
The California Air Resources Board (CARB) released new guidance and a voluntary reporting platform for the inaugural reports under the state's SB 253 climate disclosure law, due November 10, 2026. This development is critical for the thousands of public and private companies with significant operations in California that are now subject to broad greenhouse gas (GHG) emissions reporting. The guidance clarifies compliance pathways for the initial reporting year, reaffirming CARB’s previously announced enforcement discretion. For 2026, companies can submit existing Scope 1 and Scope 2 data without penalty for lacking third-party assurance; those not collecting data as of December 2024 can submit a non-reporting statement. The new online platform is optional and designed to streamline submissions and fee collection. Counsel should advise clients to evaluate the guidance immediately to determine their 2026 reporting approach while closely tracking CARB’s separate, ongoing rulemaking process that will establish permanent, more stringent requirements, including for Scope 3 emissions, for 20
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A federal court has rejected dormant Commerce Clause and due process challenges to Oregon's plastics recycling law, a key test case for similar extended producer responsibility programs nationwide.
In the first federal court test of a state extended producer responsibility (EPR) law, a judge has upheld Oregon’s Plastic Pollution and Recycling Modernization Act (RMA). The ruling in National Ass’n of Wholesale Distributers v. Feldon rejected industry claims that the law violates the US Constitution's dormant Commerce Clause and Due Process Clause. This decision is significant for businesses nationwide as several other states, including California, Colorado, and Washington, have enacted similar product-stewardship laws, and this case provides insight into how those statutes may withstand legal challenges.
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IRS Notice 2026-50 extends and expands the Section 45Q safe harbor for secure geological storage, including enhanced oil and gas recovery projects, until further guidance is issued.
On August 14, 2026, Treasury and the IRS released Notice 2026-50, meaningfully broadening the interim Section 45Q carbon capture safe harbor first introduced in Notice 2026-1. The expansion responds to EPA's September 2025 proposed rule removing Subpart RR reporting obligations and to EPA's February 2026 final rule delaying 2025 Annual Report submissions until October 30, 2026. Notice 2026-50 now extends the safe harbor to qualified carbon oxide used as a tertiary injectant in enhanced oil or natural gas recovery projects and confirms reliance is permitted to determine recapture amounts under Treas. Reg. Section 1.45Q-5(a) and (c). The relief also extends beyond calendar year 2025, applying for each reporting year in which EPA fails to launch its e-GGRT system by March 31 of the following year, and remains available until Treasury and the IRS publish further interim guidance or proposed regulations. Sophisticated counsel advising CCS developers, oil and gas operators with EOR/EGR projects, and energy-transition investors should review compliance steps: secure geological storage under
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A first-of-its-kind ruling rejected dormant Commerce Clause and due process challenges, bolstering similar producer-pays recycling laws in California and Colorado.
A U.S. District Court in Oregon has upheld the state's Recycling Modernization Act, rejecting claims that the landmark Extended Producer Responsibility (EPR) law violates the dormant Commerce Clause and the Due Process Clause. The ruling is the first of its kind to address the constitutionality of a comprehensive packaging EPR statute in the United States. The plaintiff, the National Association of Wholesaler-Distributors, argued the law discriminated against interstate commerce and improperly delegated regulatory authority to a private producer-responsibility organization.
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The U.S. Food and Drug Administration has issued a discussion paper outlining potential regulatory approaches for medical devices that incorporate generative artificial intelligence.
The U.S. Food and Drug Administration (FDA) has taken a significant step toward creating a regulatory pathway for generative AI in healthcare, releasing a discussion paper on August 18, 2026, that seeks stakeholder feedback. The paper outlines the agency's initial thinking on a risk-based framework for generative AI-enabled medical devices, addressing key areas such as pre-market review standards, post-market monitoring requirements, and the complexities of using third-party foundation models.
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Seven US agencies have jointly rescinded a 2022 statement that provided regulatory assurance for special purpose credit programs, requiring lenders to reevaluate any programs that use protected characteristics as eligibility criteria.
A group of seven federal agencies, including the CFPB, FDIC, OCC, and DOJ, has jointly rescinded the 2022 “Interagency Statement on Special Purpose Credit Programs,” removing a key source of regulatory assurance for lenders. The 2022 statement had encouraged financial institutions to develop SPCPs to meet the needs of underserved communities, suggesting that programs using protected characteristics like race or sex as eligibility criteria could be permissible under the Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA).
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The U.S. Treasury has issued proposed rules to implement the GENIUS Act, defining when stablecoin issuers must obtain a federal license and how foreign-issued stablecoins can be offered in the U.S.
The U.S. Department of the Treasury has issued a Notice of Proposed Rulemaking (NPRM) to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The proposed rules focus on clarifying critical jurisdictional terms, such as what constitutes “issuing a payment stablecoin in the United States” and what it means to “offer or sell” one to a person in the U.S.
These definitions are fundamental to the new regulatory framework. They will determine which stablecoin issuers must obtain a U.S. license and under what conditions digital asset service providers can offer foreign-issued stablecoins in the American market. The GENIUS Act, enacted in July 2025, creates a comprehensive licensing regime for payment stablecoins, and this NPRM is a key step in its operationalization. It will affect all participants in the digital asset ecosystem, from issuers and exchanges to investors and traditional financial institutions exploring the space.
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Technology companies that provide digital tools to state and local governments face growing contractual and procurement burdens to ensure compliance with web accessibility standards.
A 2024 Department of Justice final rule requires state and local government web content and mobile apps to be accessible to people with disabilities, setting compliance deadlines for 2027 and 2028. In anticipation, public entities are shifting the legal and operational burden for compliance to their third-party information and communications technology (ICT) vendors.
Clients who sell technology to the public sector must now navigate more stringent procurement processes and contractual terms. States including New York, Texas, and Virginia are increasingly requiring vendors to provide accessibility documentation, such as Voluntary Product Accessibility Templates (VPATs) and Accessibility Conformance Reports (ACRs), and to commit to remediation roadmaps. This trend exposes vendors to new risks, including loss of contracts and liability for non-compliance.
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A US Department of Homeland Security proposal would end the 60-day grace period for certain nonimmigrant workers after job loss, reducing flexibility for both employees and employers.
The US Department of Homeland Security (DHS) has proposed a rule to eliminate the 60-day grace period currently available to certain nonimmigrant workers following the end of their employment. The proposal, which has cleared Office of Management and Budget review, would affect individuals in E-1, E-2, E-3, H-1B, H-1B1, L-1, O-1, and TN status.
Since 2017, this discretionary grace period has provided a critical window for sponsored employees to find new work, apply for a change of status, or make arrangements to depart the US without immediately falling out of lawful status. Sophisticated counsel and clients care because its elimination would introduce significant uncertainty and risk into workforce management. It would compress hiring timelines for new employers and complicate severance and transition planning for companies conducting layoffs. Foreign national employees facing job loss would have substantially less time to secure a new sponsored position, potentially jeopardizing their ability to remain in the US and disrupting long-term residency plans.
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The Department of Homeland Security has proposed a new $103,265 filing fee for new cap-subject H-1B petitions, a move that would significantly alter the cost of sponsoring foreign talent.
The US Department of Homeland Security (DHS) has issued a notice of proposed rulemaking to add a new $103,265 fee for each H-1B cap-subject petition. This fee would be in addition to all existing government filing charges and would apply to both regular cap and advanced-degree exemption petitions. The proposal explicitly excludes cap-exempt petitions, such as those for universities and certain research organizations, as well as petitions for H-1B extensions, amendments, or changes of employer.
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A federal appeal over a voided tariff moratorium could impose major retroactive duties on solar modules, creating a critical risk allocation issue for project contracts, M&A, and financing.
A U.S. Court of International Trade (CIT) decision that struck down the Biden administration's two-year suspension of certain solar tariffs has created significant uncertainty for the renewables industry. The ruling, which is now being challenged at the U.S. Court of Appeals for the Federal Circuit, could lead to the imposition of substantial retroactive antidumping and countervailing duties on solar products imported from Southeast Asia between 2022 and 2024. Although the federal government has withdrawn from the appeal, industry groups are pressing on, and collection of the duties remains stayed.
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The U.S. Federal Maritime Commission chair has raised the possibility of investigating the IMO's proposed shipping decarbonization framework if its costs harm U.S. foreign commerce.
The International Maritime Organization's (IMO) proposed Net-Zero Framework (NZF), which aims to decarbonize global shipping through emissions limits and carbon pricing, is facing scrutiny from the U.S. Federal Maritime Commission (FMC). The framework could significantly increase shipping costs for U.S. importers and exporters via fuel mandates and financial penalties for non-compliance, such as a proposed $380 per tonne of CO2 equivalent. These costs, if passed on by carriers, could be deemed unjust practices under the U.S. Shipping Act. FMC Chair Ann-Dora DiBella has publicly stated the framework could trigger an investigation under the FMC's seldom-used Section 19 authority, which addresses foreign laws or practices unfavorable to U.S. trade. Such a finding could lead to significant remedies, including per-voyage fees up to $1 million or denial of U.S. port entry. Counsel for carriers and shippers should monitor upcoming IMO negotiations and the FMC's posture, as what began as a global climate initiative could become a contentious U.S. trade policy dispute requiring contractual ri
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The 2025 CFIUS annual report shows a rise in total filings driven by declarations, but the clearance rate for these short-form submissions fell from 78% to 66%, signaling greater scrutiny and potential deal delays for foreign investors.
The Committee on Foreign Investment in the United States' (CFIUS) annual report for calendar year 2025 shows a 7% increase in total filings, driven by a sharp rise in short-form declarations. However, the data reveals tougher scrutiny, as the proportion of declarations cleared by the Committee fell from approximately 78% in 2024 to 66% in 2025. Consequently, CFIUS requested parties to submit a more extensive full notice in 26% of declaration cases, up from 15% the prior year, creating potential for significant deal delays.
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The US Department of Justice has created a permanent section to prosecute trade and customs fraud, releasing a new guide that emphasizes False Claims Act liability for corporate importers.
The US Department of Justice (DOJ) has established the permanent Global Trade & Commerce Enforcement Section (GTCES) to investigate and prosecute criminal import, trade, and customs fraud. Working with the Department of Homeland Security, the DOJ also released "A Resource Guide to Trade Fraud Enforcement," its first comprehensive framework on the topic.
This development signals a heightened and enduring government focus on trade compliance. The guide specifically emphasizes the use of the False Claims Act (FCA), including its "reverse false claim" provision, to pursue customs fraud, tariff evasion, and duty underpayment. This substantially increases financial risk for companies, as the FCA allows for treble damages and significant civil penalties, and enables qui tam lawsuits. Corporate counsel should note the guide's focus on robust internal compliance, active supply chain auditing, and the benefits of the DOJ's voluntary self-disclosure policy. Companies should review their trade compliance programs in light of these announced priorities.
New legislation establishes specialized senates at Higher Regional Courts to hear complex commercial cases, including post-M&A matters, that have traditionally been resolved by arbitral tribunals.
New German legislation, effective April 1, 2025, has established specialized Commercial Courts as senates within the country's Higher Regional Courts. This development creates a significant new state-run forum for complex commercial disputes, including post-M&A matters, that have historically been the domain of private arbitration. The introduction of these courts is a strategic move by Germany to bolster its position as a key venue for international dispute resolution. For major-firm clients, this presents a new and potentially advantageous option when structuring dispute resolution clauses in contracts with a German nexus. The courts are designed to be efficient and will be staffed by experienced judges, offering a credible alternative to arbitration. Counsel should now consider the German Commercial Courts as a viable option during contract negotiation and assess their potential benefits, such as cost and procedural differences, compared to arbitration. The key next step is to monitor early case law and the business community's adoption of this new forum to gauge its long-term imp
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Washington's Attorney General has released the state's first data privacy report, calling for comprehensive legislation and signaling increased enforcement focus on data brokers and sensitive data.
On August 14, 2026, the Washington Attorney General released the state's first Data Privacy Report, renewing the call for a comprehensive privacy statute and outlining current enforcement priorities. The report highlights the irony that Washington, whose proposed Privacy Act has been a model for laws in other states, still lacks such a law itself after repeated legislative failures.
Sophisticated counsel should note the report’s specific targets: overcollection of data, deceptive design or "dark patterns," the sale of sensitive data like biometrics and geolocation, and the data-broker industry. The AG's office recommends legislation mandating data minimization, informed consent, and stronger protections for sensitive information. It also signals an intent to use existing authority for enforcement, even before a new law is passed, citing FTC actions against data brokers selling location data from sensitive places like reproductive health clinics.
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A company may be liable for false advertising claims on third-party websites it links to as part of its promotional messaging, a federal appeals court held.
In KetoNatural Pet Foods v. Hill’s Pet Nutrition, the US Court of Appeals for the Tenth Circuit rejected the informal “two-click rule,” a long-standing assumption that companies could avoid liability for claims made on third-party websites. The court held that a business can be liable for false advertising under the Lanham Act when it intentionally incorporates third-party content into its marketing through hyperlinks, effectively adopting the linked material as its own commercial speech. The ruling replaces the simplistic 'click-counting' framework with a functional test: whether the linked content is part of the company's promotional message. This decision has broad implications beyond competitor advertising disputes, creating potential new risks for companies regulated by the FDA and FTC, as well as those facing state consumer protection laws and class actions. Companies in sectors like dietary supplements, food, and pharmaceuticals, which often link to scientific literature, face heightened scrutiny. The key takeaway is that click distance no longer provides a reliable safe har
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The Pennsylvania Department of State has sued Character Technologies, Inc., alleging one of its AI chatbots falsely claimed to be a licensed psychiatrist, a novel use of professional-licensing laws to regulate AI.
The Pennsylvania Department of State has sued Character Technologies, Inc., alleging a chatbot on its Character.AI platform violated the state's Medical Practice Act. According to the state's petition, an investigator interacted with a chatbot named "Emilie" that held itself out as a Pennsylvania-licensed psychiatrist, provided a fraudulent license number, and offered to conduct a medical assessment for depression.
This enforcement action is significant because it applies existing professional-licensing laws to AI-generated content, bypassing the need for new AI-specific legislation. The state's legal theory focuses on the chatbot's misrepresentation of its credentials, not on whether its advice was accurate or caused harm. This approach could serve as a model for other states and for regulators overseeing other licensed professions, such as law and finance. It creates a new dimension of risk for companies that develop or deploy consumer-facing AI, suggesting that general disclaimers may not be enough to shield a platform from liability for specific representations made by its AI. A
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The US Department of Commerce seeks participants for a pilot program to test its new certification framework for novel space activities not covered by existing regulations, including satellite servicing and in-space manufacturing.
The U.S. Department of Commerce’s Office of Space Commerce (OSC) is seeking companies to participate in a pilot program for its new Space Commerce Certification (SCC) framework. Expressions of interest are due by October 5, 2026.
The SCC framework is designed to create a streamlined, "light-touch" regulatory pathway for novel commercial space activities not governed by existing rules. These include operations like in-space manufacturing, orbital datacenters, satellite servicing, and lunar missions. The goal is to provide regulatory certainty and facilitate approvals for these emerging industries. Under the proposed process, the OSC would circulate applications to agencies like the FCC, FAA, and NASA for review, aiming for a certification decision within 120 days if no national security or other concerns are raised.
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The Departments of Education and Justice are leveraging FERPA and Title IX to challenge state-level policies that limit parental notification regarding student gender transitions, citing recent Supreme Court support.
Federal agencies are escalating enforcement related to parental rights and student gender identity in schools, creating a direct conflict with some state laws. The U.S. Department of Education’s privacy office found California policies that conceal student gender transitions from parents violate the Family Educational Rights and Privacy Act (FERPA). Separately, the Justice Department’s Civil Rights Division has launched a Title IX compliance review of four California school districts concerning instruction on gender ideology and parental opt-out rights. These actions are bolstered by recent Supreme Court decisions, including Mirabelli v. Bonta, which affirmed broad parental rights under the Constitution. School districts nationwide that receive federal funds face heightened legal exposure, as federal authorities have signaled that conflicting state laws will not excuse noncompliance with FERPA and Title IX. Counsel for educational institutions should immediately review policies on student records, parental notification, and curriculum transparency. The key developments to watch are t
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The FCC has barred new authorizations for foreign-made advanced robotics and power inverters, citing national security and creating urgent supply-chain diligence obligations for key industries.
The US Federal Communications Commission (FCC) has added foreign-produced advanced robotic devices and power inverters to its “Covered List,” which designates communications equipment and services that pose an unacceptable risk to national security. The action, which took effect in July 2026, prohibits the FCC from authorizing any new models of such equipment for importation or sale in the United States. The ban does not affect equipment that received FCC authorization before the rule change.
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A new multi-agency initiative, 'Operation Economic Outcast,' signals a 'zero-leakage' enforcement posture against non-U.S. entities that facilitate Iranian trade.
The U.S. government has significantly escalated its economic pressure campaign against Iran through a new multi-agency initiative, "Operation Economic Outcast." Announced on August 24, 2026, the program explicitly targets third-country "enablers" that help Iran evade existing restrictions. The Treasury and State Departments unveiled a sweeping set of measures, including new sectoral sanctions targeting Iran’s digital assets, technology, gold, aviation, and shipping sectors. Additionally, regulators designated nearly 90 entities, individuals, and vessels across a dozen countries, suspended five general licenses authorizing certain educational and personal transactions, and issued new guidance on sanctions risks related to payments for passage through the Strait of Hormuz. In a related move, Treasury's Financial Crimes Enforcement Network (FinCEN) identified a UAE-based bank as a primary money laundering concern under Section 311 of the USA PATRIOT Act. The "zero-leakage" enforcement posture and diplomatic ultimatums to third countries signal a heightened risk for any non-U.S. company
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A new executive order directs the Secretary of Energy to prohibit the import and installation of certain bulk-power system electrical equipment from China and other designated foreign adversaries, citing national security risks.
President Trump issued Executive Order 14421 on August 26, 2026, targeting national security threats to the U.S. power grid. The order authorizes the Secretary of Energy to prohibit U.S. persons from acquiring, importing, or installing bulk-power system equipment—such as transformers, inverters, and control systems—designed or supplied by entities controlled by or subject to the jurisdiction of foreign adversaries, including China and Russia.
The order creates significant uncertainty for energy project developers, suppliers, and contractors who rely on global supply chains. While it imposes no immediate obligations until the Department of Energy issues implementing regulations, which are due by December 24, 2026, it signals a major shift in procurement policy for critical infrastructure. The forthcoming rules may also impose conditions on the continued use of previously installed equipment from covered suppliers.
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Treasury's August 24 'Operation Economic Outcast' determinations expose both U.S. and non-U.S. persons in digital assets, tech, gold, aviation, and shipping to broadened Iran secondary sanctions.
On August 24, 2026, OFAC designated five new Iranian economy sectors—digital assets, technology, gold, aviation, and shipping—without specific definitions, signaling broad interpretation. OFAC simultaneously suspended five general licenses and issued General License BB, giving parties through September 8, 2026 to wind down previously authorized transactions. Approximately 60 entities, individuals, and 'shadow fleet' vessels were sanctioned, including Azure Shipping PTE. LTD. and several UAE- and Singapore-based bunkering providers, with the State Department layering additional designations under E.O. 13846 and E.O. 13949. Separate OFAC guidance flags primary and secondary sanctions risk for any toll payments, guarantees, insurance, or information exchanges demanded by Iranian regime actors in connection with Strait of Hormuz transit—even absent payment. Sophisticated counsel should advise shipping, aviation, fintech, and commodity clients that even non-U.S. persons face potential SDN designation, asset freezes, and license denials, and that enhanced diligence on counterparties touchi
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The Financial Conduct Authority has removed the mandatory seven-day waiting period for IPO research and the equal-information rule for unconnected analysts, aiming to shorten deal timelines and reduce execution risk.
In a bid to bolster the competitiveness of UK capital markets, the Financial Conduct Authority (FCA) has eliminated two key restrictions on the equity IPO process, effective August 5, 2026. Per Policy Statement PS26/16, the FCA has scrapped the mandatory seven-day waiting period between the publication of a prospectus and the release of connected research. It also removed the requirement for firms to share the same information with unconnected analysts that they provide to their own connected analysts.
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The SEC alleges a subprime auto lender's former executives sold over $1.9 billion in asset-backed securities while systematically pledging the same collateral multiple times and using uncollectible "dead loans" to back the offerings.
The SEC has charged the former CEO, CFO, and a senior finance director of a bankrupt Texas-based subprime auto lender with a multi-year securities fraud. The complaint, filed in the Southern District of New York, alleges the executives raised over $1.9 billion through asset-backed securities (ABS) while misrepresenting the underlying collateral. Sophisticated counsel and clients in the structured finance space should note the SEC's focus on two core fraudulent practices: "double pledging," where the same auto loans were pledged as collateral to multiple investor pools and warehouse lenders simultaneously, and the inclusion of ineligible or nonexistent "dead loans" in the collateral base. To conceal the scheme, which allegedly created an $800 million collateral shortfall, the executives are accused of falsifying monthly servicing reports. The action, which parallels an existing criminal case, highlights the critical importance of due diligence for all parties in a securitization and underscores the governance risks for public companies when their directors are involved in outside busi
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The U.S. Securities and Exchange Commission has proposed a new registration-exemption and safe-harbor framework for certain investment contracts involving crypto assets.
The U.S. Securities and Exchange Commission on August 18, 2026, proposed 'Regulation Crypto Assets,' a tailored framework for offerings of certain investment contracts involving crypto assets. The proposal, if adopted, would create two new exemptions from Securities Act registration: a 'startup exemption' for offerings up to $5 million over four years and a Regulation A-style 'fundraising exemption' for offerings up to $75 million in a 12-month period.
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The Department of Justice is increasing manpower and data-driven resources to combat fraud in federal programs, with a particular focus on schemes involving foreign nationals.
The U.S. Department of Justice is intensifying its efforts to combat fraud in federal programs, signaling a significant risk for any organization that receives government funds. The DOJ's National Fraud Enforcement Division is dedicating increased manpower and deploying sophisticated data-driven tools to proactively identify and prosecute misconduct. This renewed emphasis heightens the compliance burden for government contractors, healthcare providers, research institutions, and any other recipients of federal grants or relief. Sophisticated counsel should note the specific focus on schemes involving foreign nationals, which adds a layer of complexity related to cross-border investigations and sanctions compliance. Businesses should review their internal controls and fraud detection protocols, as the government’s enhanced analytical capabilities mean that irregularities are more likely to be flagged. This enforcement push suggests that clients should prepare for a new wave of audits, subpoenas, and civil or criminal investigations under statutes like the False Claims Act.
A new independent report recommends expanding the SFO's powers, creating financial rewards for whistleblowers, and improving public-private data sharing to combat fraud.
An independent review by Jonathan Fisher KC has proposed a significant overhaul of the UK's fraud enforcement landscape. The report, the second from the review, recommends against rewriting the Fraud Act 2006, instead focusing on practical enforcement challenges. Key proposals include introducing a statutory scheme for financial rewards for Serious Fraud Office (SFO) whistleblowers, an idea the agency has lobbied for. It also suggests expanding the SFO's powers to compel the production of evidence from overseas entities with a "sufficient UK connection," reducing reliance on slower mutual legal assistance treaties.
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A unanimous Supreme Court held the SEC may seek disgorgement of a defendant's wrongful gains without proving investors suffered financial loss, resolving a circuit split in the agency's favor.
In Sripetch v. SEC, the U.S. Supreme Court unanimously held that the Securities and Exchange Commission may obtain disgorgement of a wrongdoer's profits without proving that investors suffered any corresponding financial loss. The opinion by Justice Gorsuch, grounded in traditional equitable principles, reasoned that disgorgement is a gain-based remedy measured by the defendant's unjust enrichment, not a loss-based remedy designed to compensate victims. The ruling resolves a circuit split in the agency's favor and significantly strengthens its enforcement powers, particularly in cases like market manipulation or unregistered offerings where proving direct investor loss is difficult. While the decision solidifies a key SEC remedy, a concurrence from Justice Thomas forcefully argued that congressional amendments may have converted disgorgement into a legal remedy. This would trigger the Seventh Amendment right to a jury trial in SEC enforcement actions seeking the remedy, a question that is already the subject of a circuit split and is likely to return to the Court. Counsel for defen
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The DOJ's recently formed National Fraud Enforcement Division will use advanced data analytics to pursue healthcare fraud, according to a new memorandum from its leadership.
A memorandum from Assistant Attorney General Colin M. McDonald details the enforcement priorities for the Department of Justice’s new National Fraud Enforcement Division, established earlier this year. The memo designates healthcare fraud as a central pillar of the division's mandate and signals a significant investment in prosecutorial resources and technology. Sophisticated clients and their counsel should take note of the division’s plan to deploy advanced data analytics to proactively identify exploitative schemes, a strategy building on the successful Healthcare Fraud Strike Force model. Specific areas of heightened scrutiny will include telemedicine, Medicare and Medicaid billing, the diversion of controlled substances, and home health and hospice programs. The division, which is rapidly expanding its roster of attorneys, is poised to increase enforcement actions significantly. Healthcare entities should consider reviewing their compliance programs and billing practices in light of these announced priorities, particularly in areas susceptible to data-driven detection.
A recent Eleventh Circuit decision rejected a constitutional challenge to the False Claims Act, affirming that private whistleblowers may continue to bring suits on behalf of the government.
The US Court of Appeals for the Eleventh Circuit has rejected a significant constitutional challenge to the False Claims Act, holding that its qui tam provisions do not violate the Appointments Clause. This decision affirms the long-standing practice of allowing private whistleblowers, known as relators, to sue on behalf of the government and share in any recovery. The defendants had argued that empowering private citizens to conduct litigation in the government's name unconstitutionally infringes upon the executive branch's authority. This ruling is a major setback for government contractors and other organizations in the healthcare, life sciences, and defense industries that had hoped to dismantle the primary enforcement mechanism of the FCA. The decision aligns with previous rulings from other federal circuits, solidifying the legal foundation of the qui tam framework for now. Counsel for companies facing FCA scrutiny should note that this constitutional defense is currently unviable in the Eleventh Circuit. The key development to watch is whether a different circuit court accepts
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A new report proposes extending corporate criminal liability to online platforms in the UK for failing to prevent fraud by their third-party users, raising significant compliance questions.
A report by Jonathan Fisher KC, 'Fraud in the Digital Age,' proposes creating a new corporate criminal offence in the UK for providers of regulated user-to-user services who fail to prevent fraud committed by their users. This would extend the 'failure to prevent' liability model, recently expanded under the Economic Crime and Corporate Transparency Act 2023, from acts by a company's 'associated persons' to those of independent third-party users.
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Grade 3 — worth a glance, not the full analysis.
- IRS Issues Proposed Rules on Trump Account Employer Contributions
The IRS has released proposed regulations addressing employer contributions to Trump Accounts, including contribution limits, eligibility requirements, and investment restrictions.
- UK Delays and Narrows New Commercial Property Energy Rules
The UK government has scrapped an interim 2027 energy efficiency target for commercial properties, now requiring only buildings over 1,000 square meters to meet a new standard by 2031.
- Managing Risk From Climate 'Tipping Points'
A new guide analyzes irreversible 'tipping points' in the climate system and offers a framework for managing the resulting non-linear risks.
- FCA Finds Young UK Investors Over-Trust Unregulated AI
A new Financial Conduct Authority survey shows many young UK investors mistakenly believe AI-driven investment tools are regulated and that their potential losses would be covered.
- SEC Proposes to Modernize Transfer Agent Rules
The Securities and Exchange Commission has proposed updating rules and forms for registered transfer agents to improve record-keeping accuracy and enhance services provided to securityholders.
- Seventh Circuit Reverses Dismissal in Franco v. Chobani Allulose Suit
A Seventh Circuit ruling that FDA enforcement discretion does not shield “zero sugar” claims from state-law deception suits has spawned a fresh wave of consumer class actions targeting allulose-containing products.
- IRS Issues Proposed Rules on Employer Contributions to Trump Accounts
The IRS released proposed regulations on employer-sponsored contributions to Trump Accounts, covering plan requirements, the $2,500 limit, nondiscrimination rules, and investment options.
- Immigration Financial Scrutiny Expands Under New Executive Order
FinCEN advisory and CFPB guidance now require banks to factor immigration status into customer due diligence and ability-to-repay analyses.
- Delaware Issues Guidance on Designated Directorships
A new guide offers best practices for directors appointed by specific shareholders, focusing on the risks and fiduciary duties owed to the entire corporation under Delaware law.
- OFAC designates 15 Ecuadorian parties, 10 vessels in cartel-linked action
Companies with Latin America maritime, fishing, or logistics operations must screen against new OFAC designations tied to cocaine trafficking networks.
- PE DLA Contractor Due Diligence: Key Regulatory Issues
A King & Spalding guide detailing regulatory diligence priorities for private equity buyers acquiring Defense Logistics Agency contractors, including transaction structuring, FCA successor liability, and CMMC readiness.
- States Tighten Rules on Private Equity Investment in Law Firms
Illinois, California, and Colorado have enacted sweeping legislation restricting outside investment in law firms through MSO and ABS structures, creating a patchwork of compliance obligations.
- IRS Previews Saver's Match Rules, Plan Sponsors Face 2027 Decisions
IRS Notice 2026-48 outlines how the new federal matching contribution under SECURE 2.0 will operate beginning in 2027, clarifying that retirement plans are not required—but are encouraged—to accept these contributions.
- Mexico Proposes Mandatory Foreign Investment National-Security Review
President Sheinbaum's bill would require CNIE approval for foreign acquisitions exceeding 49% in critical sectors, with automatic denial if no decision issues within 60 business days.
- House Committee to weigh DIDMCA opt-out scope for interstate lending
The House Financial Services Committee will consider H.R. 7866 to clarify whether states that opt out of federal interest-rate preemption can regulate loans made by out-of-state state-chartered banks.
- Second Circuit creates new res judicata standard in $112M case
Paul Hastings secured affirmance in the Second Circuit for RWE Clean Energy, establishing new precedent on how denial of leave to amend affects res judicata analysis.
- UK Bribery Act and Corporate Liability Explained
A guide summarizes the UK Bribery Act 2010's key offenses, including the strict-liability corporate crime of failing to prevent bribery by associated persons.
- IRS clarifies tax-free tips and overtime rules through 2028
The IRS released FAQs on August 6, 2026 explaining eligibility, withholding, and reporting requirements for the tip and overtime tax exemptions created by the 2025 omnibus spending bill.
- Australian Anti-Bribery Law Guide Covers 2024 Reforms
A comprehensive guide outlines Australia's anti-bribery framework including recent 2024 amendments expanding corporate liability for foreign bribery offenses.
- States embed federal interoperability in frontier AI laws
California, New York, and Illinois have enacted frontier AI laws with provisions allowing developers to satisfy state obligations by complying with qualifying federal standards, reducing duplicative compliance burdens.
- Takeda Files First BPCIA Suit Over Entyvio Biosimilar
Takeda Pharmaceuticals has filed a patent infringement lawsuit in New Jersey against Polpharma, marking the first BPCIA litigation over a proposed biosimilar for the blockbuster drug Entyvio.
- States Pile On AI Notice Rules As Employers Face Patchwork
Colorado and Connecticut join New York, Illinois and California in mandating disclosure when AI tools drive hiring or employment decisions, creating a compliance maze for multi-state employers.
- Crypto-Focused Firms Warned of Shareholder Activism Risks
Public companies that have pivoted to a digital asset treasury strategy are increasingly vulnerable to activist campaigns targeting valuation discounts, complex capital structures, and governance weaknesses.
- design-patent-claim-construction-debate-ranges
Courts and practitioners grapple with who should determine design patent scope as visual claims challenge traditional claim construction methods.
- Human Agency Is Key to Copyright for AI-Assisted Music
A new analysis argues that AI music tools should be evaluated based on whether they preserve human creative decision-making, a key factor for copyright protection under current U.S. Copyright Office guidance.
- DOL proposes electronic delivery safe harbor for group health plan disclosures
The DOL's proposed rule would let group health plans use notice-and-access electronic delivery for ERISA disclosures, creating a third disclosure regime alongside retirement plans and other welfare benefits.
- Mexican insurers can control CERPIs under current law
White & Case analysis confirms Mexican insurance institutions may sponsor and control CERPI private equity vehicles, subject to LISF concentration limits and solvency requirements.
- Texas Offers Tax Amnesty for Captive Insurance Premiums
The state comptroller is offering to waive interest and penalties for Texas-based insureds who have not paid the 4.85% premium tax on policies from non-admitted captive insurers.
- UK launches digital product record call for evidence amid EU DPP rollout
The UK government seeks stakeholder input by September 21, 2026 on whether to create a domestic digital product record framework that could align with or diverge from the EU's operational Digital Product Passport system.
- Gene-Edited Plant Rules Updated in EU, Panama, South Korea
Panama and the EU are easing pathways for some gene-edited crops, while South Korea has expanded its GMO labeling requirements to include more processed products.
- Fairfax County Streamlines Mixed-Use Entitlements Via Suburban Village Centers
Fairfax County, Virginia has elevated Suburban Village Centers to Tier 1 priority, allowing eligible sites to bypass comprehensive plan amendments and proceed directly to zoning applications for mixed-use redevelopment.
- CMS Makes Telehealth Enrollment Flexibilities Permanent
Providers can now render telehealth from home without enrolling home addresses, but must maintain separate physical practice locations; virtual-only practitioners still need to report home addresses.
- USPTO relaxes Markush grouping requirements for functional claims
The USPTO's new "informative" decision allows Markush groups to include structurally diverse species that perform similar functions, potentially broadening claim options for patent applicants.
- China drafts major copyright regulation overhaul expanding to 49 articles
China's NCA released sweeping draft revisions to Copyright Law implementing regulations, adding evidentiary presumptions, performer rights, and technical protection frameworks while remaining silent on AI.
- SBA eliminates 50-year notice-and-comment policy for program rules
The Small Business Administration's final rule, effective August 31, 2026, rescinds its voluntary 1974 policy requiring public comment on rules affecting loans, grants, benefits and contracts, returning to APA default exemptions.
- Mexico Proposes New Environmental Protection Law Replacing LGEEPA
Mexico's federal executive presented an initiative on August 26, 2026 to enact a new General Law on Ecological Balance and Environmental Protection, potentially overhauling decades-old environmental legislation.
- DOJ Formalizes Healthcare Fraud Priorities, Expands Strike Force to Philadelphia
New DOJ Fraud Division priorities memo places healthcare fraud second among five enforcement targets; Strike Force expands to Philadelphia with 19 defendants charged in $4M Medicaid fraud.
- Washington State Creates New Authority to Ease Grid Bottlenecks
A new state law establishes the Washington Electric Transmission Authority (WETA) to coordinate and accelerate the development of electricity transmission, particularly for renewable energy projects.
- California SB 690 eliminates private pen register claims under CIPA
California legislature passed SB 690, eliminating private right of action for pen register claims under CIPA with retroactive effect for claims filed in the past two years.
- Commerce Dept. Loosens Export Rules for Civilian UAVs
The Bureau of Industry and Security has revised the Export Administration Regulations to facilitate the export of certain US-made civilian drones to foreign partner countries without a license.
- S.D.N.Y. narrows Kovel doctrine, rejects art adviser privilege claim
In Sun v. Geffen, the court held that an art adviser's factual transaction information did not qualify for attorney-client privilege protection under the narrow Kovel doctrine.
- AUSTRAC uncovers coordinated mortgage fraud across major Australian lenders
AUSTRAC's Fintel Alliance identified potentially hundreds of millions of dollars in suspected fraudulent loans, mostly linked to Sydney properties, across 10 major Australian banks.
- OSHA Heat Hazard Enforcement Intensifies With Updated National Emphasis Program
Employers face growing heat illness prevention obligations as OSHA's updated enforcement program targets 22 additional industries and states adopt stricter heat safety rules.