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Cybersecurity Law & Strategy
U.S. Regulators Lift the Curtain on Data Practices with Assessment, Reporting and Audit Requirements
Alan Friel, David Manek, Sasha Kiosse, David Farber and Colleen M. Yushchak
The assessment and audit requirements of the new generation of state data protection laws will force U.S. companies to move beyond mere window dressing and instead require them to develop fulsome data protection programs.
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Business Crimes Bulletin
Decoding DOJ’s New ‘Justice AI’ Initiative
James D. Gatta, Allan J. Medina and Ian Q. Rogers
The DOJ is likely to face many practical challenges and novel issues as it begins coding its own algorithm for AI-related enforcement. This article briefly examines three areas of AI-related enforcement where such practical challenges and novel issues may arise.
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Commercial Leasing Law & Strategy
NYC Guarantor Liability for Post-Window-Period Rent
Cheryl Ginsburg
In Tamar Equities Corp. v. Signature Barbershop 33 Inc., the Appellate Division analyzed whether the Guaranty Law bars recovery from a guarantor where a commercial tenant’s default initially arose during the Guaranty Law’s window period, but persisted after its expiration.
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Business Crimes Bulletin
The FTC and DOJ’s New Guidelines Promise Sharper Scrutiny of Mergers
Karen Hoffman Lent and Kenneth Schwartz
From loosened structural presumptions to unconventional theories of harm such as “ecosystem competition” to consideration of a merger’s effects on outside markets, we review some of the most noteworthy changes in the new Guidelines.
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Business Crimes Bulletin
Supreme Court Set to Decide On Competing Interpretations of Federal Corruption Statute
Elkan Abramowitz and Jonathan Sack
In this article, we describe the competing interpretations of Section 666 and comment on the implications of a Supreme Court decision in United States v. Snyder, where it will decide whether the law criminalizes “gratuities,” and not simply “bribes,” given to state and local officials.
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Commercial Leasing Law & Strategy
‘Yellowstone’ Injunctions: Navigating the Wild West of Commercial Lease Disputes
Janet Kljyan and Charles F. Martin III
The Yellowstone injunction is implicated in nearly every lease for commercial real property in the state of New York, yet most landlords and tenants do not know what it is or how it affects them. Below is a succinct overview of its implications so that commercial landlords and tenants can better navigate lease disputes.
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Business Crimes Bulletin
The Role of the SEC In Cryptocurrency Regulation and Enforcement
Jay Dubow, Joanna Cline and Milica Krnjaja
The SEC's cryptocurrency-related actions reached a new high in 2023, jumping more than 50% when compared to 2022. We expect the SEC’s enforcement efforts in this area to continue at a high pace in 2024, even though whether or not cryptocurrency should be classified as a security or something else remains uncertain.
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Cybersecurity Law & Strategy
New Jersey Passes Privacy Law
Peter Brown
The New Jersey law follows states, such as California, Texas, and Connecticut, who have enacted privacy laws, including broad laws addressing consumer data privacy, children’s privacy laws, consumer health data privacy laws, and data broker laws.
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Commercial Leasing Law & Strategy
Are Recent Regulations Dooming Franchising?
Marc Lieberstein and Chris Caiaccio
In 2024, franchising may need to overcome and work around the recent government regulation that goes to the very heart of the franchising relationship and the way franchise businesses operate,
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The Bankruptcy Strategist
Third Circuit: Bankruptcy Code Mandates Appointment of Examiner In Chapter 11 Cases
Francis J. Lawall and Brenden S. Dahrouge
The Third Circuit recently held in 'In re FTX Trading' that the plain text of Section 1104(c)(2) mandates the appointment of an examiner under the specified conditions set forth. As a result, the FTX decision will carry significant implications for large and medium-sized bankruptcy cases.
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Business Crimes Bulletin
Global Antitrust Competition Enforcers Are Back, According to Report
Gail J. Cohen
Labor markets, artificial intelligence and consumer-related issues are going to be under the microscope from antitrust investigators around the globe in 2024, according to a report from Morgan, Lewis & Bockius.
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Commercial Leasing Law & Strategy
The New Basel Regulations Could Bite CRE
Erik Sherman
If you haven’t heard of Basel III, you’ve got company. International banking regulations aren’t typical beach reading. But some people who have been poring through these new banking regulations are not looking happy.
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The Bankruptcy Strategist
Bankruptcy Court Ruling of Cannabis-Related Claims Not Violation of Controlled Substance Act, California District Court Rules
Lawrence J. Kotler and Ryan Spengler
The Central District of California court held that a bankruptcy court’s administration of cannabis-related state court claims against a debtor’s estate is not a violation of the Controlled Substances Act.
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Cybersecurity Law & Strategy
FTC's ‘Click to Cancel’ Rule Could Cost $2.7 Billion for Businesses
Maydeen Merino
The FTC’s proposed click to cancel rule amendments would impose a one-time cost of $2.7 billion on businesses and have an annual effect on the national economy of at least $100 million, according to an economic report by the online advertising industry’s association.
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Business Crimes Bulletin
SEC Keeping Eye On Non-GAAP Financial Disclosures
Kirsten Ulzheimer
The SEC’s Division of Corporation Finance continues to provide comments to issuers about non-GAAP financial measures, and the SEC’s Division of Enforcement continues to investigate the accuracy of such non-GAAP metrics and, when necessary, will enforce charges against a company for providing misleading non-GAAP financial measures.
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Cybersecurity Law & Strategy
To Benefit from Cyber Insurance Coverage in France, Don’t Forget to File a Complaint
Stéphanie Faber and Charles Helleputte
Since April 2023, French regulation makes the payment of insurance compensation in case of cyberattacks conditional on the filing of a complaint within a reduced time frame. This regulation has been enacted in the context of the French government decision to fight against the resurgence of cyberattacks, together with ransom demands, which have a significant impact on the economy.
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Cybersecurity Law & Strategy
FTC Revises Children’s Online Privacy Rule to Extend Parental Consent to Targeted Advertising
Chris O’Malley
The Federal Trade Commission in January provided more details on its proposed changes to the Children’s Online Privacy Protection Rule, underscoring the need for online operators to review and prepare to update their policies and procedures.
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Cybersecurity Law & Strategy
Third Circuit to Rule on TikTok’s Section 230 Immunity After Viral Stunt Turned Fatal
Avalon Zoppo
The U.S. Court of Appeals for the Third Circuit has been asked to decide whether TikTok’s “highly personalized” algorithm that feeds videos to users is considered first-party speech not immune from civil liability by Section 230 of the federal Communications Decency Act.
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Commercial Leasing Law & Strategy
Navigating Legal Real Estate Issues in the Cannabis Industry
Andy Sick
This article explores just a few of the major legal opportunities and pitfalls associated with real estate in the cannabis industry, shedding light on some of the potential complexities and issues that businesses and investors may face.
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Business Crimes Bulletin
SEC Revises Beneficial Ownership Reporting Rules
Sarah Heaton Concannon and Alexander Schwartz
This article identifies certain information asymmetries in the SEC’s beneficial ownership reporting rules, discusses the extent to which those information asymmetries are addressed (or not) under the SEC’s recent rule amendments, and considers whether additional rule amendments or SEC guidance continue to be necessary.
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Business Crimes Bulletin
SEC Chief Warns Against 'AI Washing'
Maydeen Merino
Artificial intelligence could drive greater efficiency and lower costs in the finance sector but U.S. Securities and Exchange Commission Chair Gary Gensler warned last month about companies potentially making false claims about using the technology, a nefarious practice known as “AI washing.”
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Business Crimes Bulletin
SCOTUS Seeks to Provide Clarity Over Investor Suits
Jimmy Hoover
In a case that could either stem or unleash a tide of investor lawsuits, the Supreme Court searched for a narrow way to rule that might still be of some value to the securities bar.
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Cybersecurity Law & Strategy
The EU AI Act Will Transform Practices for AI Governance In the U.S.
Dominique Shelton Leipzig
The EU AI Act solidifies one of the world’s first comprehensive attempts to bring governance to unlock innovation in AI. U.S. companies have asked, what exactly does this development mean for their businesses?
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Entertainment Law & Finance
How Likely FTC’s Comments On Copyright & AI May Become Policy
Isha Marathe
The FTC said that the misuse of training data like infringing on a work’s copyright license is tantamount to unfair competition, thus implicating consumer protection with copyright policy and securing the agency’s jurisdiction in the regulatory space.
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Business Crimes Bulletin
Navigating the Complexities of Internal Investigations In the Current Climate
Carrie Cohen, Brian Michael and Christine Wong
Today, internal investigations have taken on added complexity given the government’s current emphasis on voluntary disclosures, the increased vigor of social justice movements, the 24/7 news cycle, and other heightened risks that often require companies to respond quickly to an unexpected event or potential crisis. To help companies navigate these complexities and best address such situations, the following strategies should be considered.
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Business Crimes Bulletin
The DOJ’s Corporate Enforcement Policy: One Year Later
Jolie Apicella
The DOJ’s Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ’s implementation of the new policy in practice.
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Business Crimes Bulletin
Lack of Transparency In SEC Settlement Penalty Calculations May Frustrate Self-reporting
Michael J. Osnato Jr., Meaghan Kelly and Stephanie Hon
SEC settlements often lack explanation as to how the civil monetary penalties were calculated per the statutory framework or why such penalties were appropriate under the circumstances. This lack of transparency tends to create market confusion and may frustrate certain behavior the SEC seeks to encourage, namely self-reporting.
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Cybersecurity Law & Strategy
Next On AI’s Agenda, Regulatory Scrutiny
Gretchen L. Jankowski and Abigail L. Cessna
While some jurisdictions are enacting or proposing AI-specific regulation, many existing regulatory frameworks apply to new technologies, including antitrust. Companies may experience different potential antitrust risks depending on the type of AI technology and their use of that technology.
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Cybersecurity Law & Strategy
Turning the Tables: Ransomware Actor Files Complaint With the SEC Against Victim for Failing to Timely Disclose Cyberattack
Mason Lawlor
Ransomware operation AlphV/BlackCat has filed a SEC complaint against one of its alleged victims, MeridianLink, for allegedly failing to comply with the four-day rule to disclose a cyberattack.
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Business Crimes Bulletin
Leveraging Data and Deal Terms to Meet the Demands of the DOJ’s New M&A Safe Harbor
Patrick T. Campbell, Jonathan B. New, James A. Sherer, and Lauren E. Sternbach
This article describes the DOJ’s new M&A safe harbor policy and also provides practical insights on how companies engaged in M&A can meet the DOJ’s expectations.
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Business Crimes Bulletin
AI Is Attracting Antitrust Regulatory Scrutiny
Gretchen L. Jankowski and Abigail L. Cessna
While some jurisdictions are enacting or proposing AI-specific regulation, many existing regulatory frameworks apply to new technologies, including antitrust. Companies may experience different potential antitrust risks depending on the type of AI technology and their use of that technology.
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Business Crimes Bulletin
Are Law Firms Ready for the Corporate Transparency Act?
Ross Aronowitz
With the beginning of a new year around the corner and the introduction of new compliance obligations under the Corporate Transparency Act (CTA), many law firms are scrambling to determine how they will assist clients who may be subject to these additional regulations.
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Business Crimes Bulletin
The White House’s AI Executive Order Has Teeth, But Does It Bite?
Cat Casey
Packing more tricks and treats than a suburban soccer mom, this sweeping order was ambitious, to say the least, artfully seeking to thread the needle and balance fear and desire when it comes to the AI renaissance sweeping the globe. And yet, hidden within the body of the order lay something that might make this sweeping and ambitious order flop.
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Business Crimes Bulletin
EU’s New Foreign Subsidies Regulation Creates Risk for Foreign Companies
Linda A. Thompson
Now, large companies doing business in the EU must report any financial contribution received from a government in a non-EU country in the last three years.
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Cybersecurity Law & Strategy
INFOGRAPHIC: Keeping Up with the Evolving Patchwork of Laws: An Interactive Map of State Privacy Laws
CLS Staff
An Interactive Map of State Privacy Laws
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Commercial Leasing Law & Strategy
NYC Local Law 18 On Short-Term Rentals Takes Effect
Matthew A. Ulmann
New York City's Short-Term Rental Registration Law (Local Law 18), which directly impacts the ability of an individual unit owner to rent his or her apartment on a short-term basis, took effect on Sept. 5, 2023.
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New York Real Estate Law Reporter
Local Law 18: A Change to Short-Term Rentals In New York City
Matthew A. Ulmann
On Sept. 5, 2023, the New York City Short-Term Rental Registration Law (Local Law 18) took effect which directly impacts the ability of an individual unit owner to rent his or her apartment on a short-term basis.
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Business Crimes Bulletin
Enhanced Oversight of Search Warrants and Title III Wiretaps
Harry Sandick, Bonnie Robinson and Thomas Kicak
Search warrants and wiretaps were once used primarily to investigate organized crime, drug dealing and terrorism. In recent years, however, prosecutors have employed these tools increasingly in the context of white-collar crime to the point where it is now commonplace.
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Business Crimes Bulletin
FIFA Decision Curtail U.S. Efforts to Police Foreign Commercial Bribery
Robert J. Anello and Richard F. Albert
Heeding the U.S. Supreme Court’s clear message that ever-expanding constructions of the general fraud statutes are out of style, the latest decision out of the U.S. District Court for the Eastern District of New York in the long-running FIFA saga has the potential to substantially curtail U.S. efforts to police foreign commercial bribery.
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Business Crimes Bulletin
Managing Regulatory Risks In Times of Hyper-Aggressive Enforcement
Trudy Knockless
Companies need to be proactive and super-responsive to investigators to manage regulatory risks in this area of hyper-aggressive enforcement, according to in-participants in a recent panel at ALM Global’s General Counsel East in New York City.
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Cybersecurity Law & Strategy
California Privacy Bill Could Upend the Way Data Brokers Do Business In the Golden State
Maria Dinzeo
A California privacy bill that will give consumers the power to delete their personal information through a single request may soon become law, and could upend the way data brokers, advertisers and publishers do business in the Golden State.
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The Intellectual Property Strategist
The Presumption of Irreparable Harm After the Trademark Modernization Act Of 2020: The Good, the Bad and the Ugly
Christopher P. Bussert
This article explores developments (both positive and negative) in the post-TMA world in which courts have wrestled with implementation of the presumption of irreparable harm in trademark cases.
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Business Crimes Bulletin
DOJ and States Open Antitrust Case Against Google for Monopolizing Internet Search Market
Jimmy Hoover
The U.S. Department of Justice and dozens of states opened their antitrust case against Google in Washington last month, accusing the tech giant of illegally monopolizing the internet search and related ad markets.
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Business Crimes Bulletin
SEC Sued Over Private Fund Adviser Rule
Maydeen Merino
The Managed Funds Association and five other industry groups have sued the SEC over its new private fund advisers rule, saying the agency has overreached its statutory authority and interferes with contracts.
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Cybersecurity Law & Strategy
New U.S.-China Investment Dynamic Focuses On AI and Sensitive Technologies
David A. Holley
An Executive Order released by the Biden Administration on Aug. 9 places increased importance on due diligence when investing in specific foreign countries. The Executive Order will regulate outbound investments in China with a focus on key technologies critical to safeguarding U.S. national security, including artificial intelligence.
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Cybersecurity Law & Strategy
New York’s Latest Cybersecurity Commitment
Erik B. Weinick
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York’s inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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Cybersecurity Law & Strategy
The EU-U.S. Data Privacy Framework: Did Transferring Personal Data from the EU to the U.S. Just Get Easier?
Wim Nauwelaerts
Businesses and organizations that (regularly) transfer personal data from the EU to the U.S. should carefully assess, on a case-by-case basis, whether it makes sense to rely on the new EU-U.S. Data Privacy Framework or to use one of the other data transfer tools that are available under the GDPR.
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Cybersecurity Law & Strategy
10 Steps Legal Departments Should Be Taking to Prepare for the SEC’s Newly Adopted Cybersecurity Risk Governance Rule for Public Companies
Megan Silverman
By readying your company’s cybersecurity program now to comply with the SEC’s cyber rules, you will also arm your company with a better defense against cyberthreat actors, reduce the reputational harm that comes along with a cybersecurity incident and increase investor confidence in the company’s cybersecurity program.
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Business Crimes Bulletin
DOJ Calls On Companies to Incorporate Data Analytics In Anti-Corruption Compliance Programs
Fotis Konstantinidis, Michael Pace and Jason Wright
This article explains the DOJ’s recent emphasis on robust data analytics in anti-corruption compliance programs, outlines how data analytics can and should be used in these programs, and suggests an approach to help legal counsel and companies determine if corporate programs will pass muster with the DOJ.
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Business Crimes Bulletin
White-Collar Practitioners Weigh In On Defending Trump Indictments
Brad Kutner
They say every defendant deserves an attorney, and that surely includes a former president, but how does a lawyer defend someone facing multiple indictments in multiple districts all while they’re running a campaign to return to the White House? Several white-collar defense attorneys who spoke with Business Crimes Bulletin’s ALM sibling The National Law Journal have some ideas.
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