Maintaining compliance as SEC cracks down on encrypted messaging apps

Navigating enforcement actions and keeping up with regulatory expectations can help your organization benefit from use of the apps while keeping risks aligned with requirements.   

By Chris Lehman • Sept. 20, 2023

SEC fines Lyft for failing to disclose $424M, pre-IPO stock sale

Lyft is required under federal securities laws to disclose stock transactions exceeding $120,000 that involve a person with ties to the company, the SEC said.

By Jim Tyson • Sept. 18, 2023

How to avoid violating CCPA when sharing employee data

If companies don’t have the right contractual arrangements with their vendors, sharing data could be construed as a sale. 

By Robert Freedman • Sept. 15, 2023

Orthofix ousts CEO, CFO, CLO, citing ‘offensive conduct’

An investigation conducted by an independent outside legal counsel found that the three executives had “violated multiple code of conduct requirements.”

By Maura Webber Sadovi • Sept. 14, 2023

EEOC sues Maryland Verizon branch for ADA violations

Beyond terminating employment, creating environments that force workers to quit is also a violation of federal labor law.

By Caroline Colvin • Sept. 8, 2023

SEC fines Fluor $14.5M for accounting flaws

Fluor last decade failed to deploy the internal controls needed for its use of the percentage of completion accounting method, the SEC said.

By Jim Tyson • Sept. 8, 2023

More states join paid leave trend, making it harder for employers to keep up

Benefits teams that seek to stay ahead of local family and medical leave requirements may need to make adjustments soon, experts said.

By Ryan Golden • Sept. 7, 2023

FCPA compliance efforts should be a team sport

In-house counsel that work with accounting and audit staff can position themselves to protect their company from Foreign Corrupt Practices Act violations, compliance experts say.

By Robert Freedman • Sept. 5, 2023

Manufacturers fined $191K for false ‘Made in USA’ claim

As part of the settlement with the FTC, the companies must send customers a note saying the product they bought wasn't really made in the United States.

By Robert Freedman • Sept. 1, 2023

Goldman to pay $5.5M CFTC fine over alleged recordkeeping failures

Software issues caused the bank to fail to record thousands of phone calls, violating recordkeeping rules and a prior cease-and-desist order, the agency said.

By Gabrielle Saulsbery • Sept. 1, 2023

Flawed accounting surges 150%: Glass Lewis

Company reports during the 2023 proxy season reveal that many newer businesses have had to correct financial statements and upgrade internal controls.

By Jim Tyson • Sept. 1, 2023

FTC pulls back on legal challenge to Amgen’s $28B bid for Horizon

Urged by a judge, the antitrust regulator said it wants to start discussions “regarding the proper resolution of this matter” — a potential prelude to a settlement.

By Jonathan Gardner • Aug. 28, 2023

Deciphering DOJ clawback credits

The agency doesn’t define what a good faith effort to recoup an employee’s compensation looks like. That leaves room for flexibility that both sides can build on, a former prosecutor says.

By Ramona Dzinkowski • Aug. 23, 2023

Staying protected as FTC steps up scrutiny of social media marketing

Using tags on social media might bring a post under the umbrella of endorsements. That’s one of the considerations as the agency eyes companies’ use of testimonials and other tactics. 

By Kristin Santamaria and Kelly Bub Smith • Aug. 21, 2023

Google’s antitrust legal battle: Lessons from document preservation failures

The importance of understanding and abiding by the legal implications of document preservation in the face of litigation cannot be overstated.

By Andreas Mueller • Aug. 18, 2023

DOJ, FTC deliver one-two punch against interlocking directorates

The two agencies in separate actions on the same day announce the removal of board members on grounds that, in previous years, weren’t an enforcement focus.

By Robert Freedman • Aug. 17, 2023

Generative AI quickly rises ranks among leading enterprise risks

Data privacy, cybersecurity and IP issues are contributing to risk executives’ concerns as the latest AI tools gain greater traction, Gartner reports.

By Lyle Moran • Aug. 14, 2023

SEC cyber rule opening can of worms over insurance coverage

Required disclosures could prompt more lawsuits as plaintiffs leverage what companies file with the agency, driving an increase in insurance exclusions, industry experts say.   

By Robert Freedman • Aug. 14, 2023

Why California AG, privacy agency appealed enforcement limits

The government entities argue that a judge’s ruling thwarted the will of voters and gives businesses freedom to violate key privacy protections.

By Lyle Moran • Aug. 11, 2023

Leveraging the SEC rule on board-level cybersecurity expertise

The agency’s release of cybersecurity rules gives legal leaders a chance to make board expertise part of the resilience they build into their organization.

By Neil Simon • Aug. 10, 2023

Make sure client isn’t using you for crime, ABA says

Assess what your client is trying to do and withdraw representation if they are laundering money or doing something else illegal, the American Bar Association says.  

By Robert Freedman • Aug. 10, 2023

WhatsApp at center of $549M fines imposed on financial firms

The penalties bring to $1.5 billion the amount companies have paid since the SEC launched an initiative in 2021 to curb employees' use of off-channel messages. 

By Robert Freedman • Aug. 9, 2023

How Pure Storage’s legal team is using generative AI

The data storage company is testing out compliance use cases, and it’s hopeful AI can help reduce outside counsel spending and automate repetitive tasks.

By Lyle Moran • Aug. 8, 2023

C-suite execs waver on AI amid regulatory uncertainty: KPMG

About 40% of survey respondents reported plans for a three-to-six month pause on generative AI investments to monitor the regulatory landscape.

By Alexei Alexis • Aug. 8, 2023

California privacy agency launches first enforcement sweep

The California Privacy Protection Agency, which gained enforcement powers July 1, said it is reviewing the data privacy practices of “connected vehicle” manufacturers.

By Lyle Moran • Aug. 2, 2023