Today's Legal Pulse
Biden sues DOJ to block release of interview audio
President Biden filed a lawsuit seeking to prevent the Department of Justice from publishing an audio interview, arguing the release would be improper. The action has sparked political commentary, including remarks from former President Trump.
Also developing:
By the numbers: Hogan Lovells and Cadwalader clear final merger hurdles
SEC Obtains Final Consent Judgments as to Joseph C. Lewis, Carolyn W. Carter, Patrick J. O’Connor, and Bryan L. Waugh...
The SEC entered final consent judgments against Joseph C. Lewis, his girlfriend Carolyn W. Carter, and pilots Patrick J. O’Connor and Bryan L. Waugh for alleged insider trading. Lewis, as majority owner of a biotechnology investment fund, obtained material nonpublic information about two public companies and tipped it to Carter and the pilots, who profited from the trades. The judgments resolve the civil enforcement action filed in the Southern District of New York. The case underscores the regulator’s focus on fund managers and their personal networks.
South Korea Moves to Require Crypto, Stock Influencers to Disclose Holdings: Report
South Korea is drafting amendments to its capital market and virtual‑asset laws that will compel social‑media personalities who promote cryptocurrencies or stocks to disclose both their holdings and any compensation received. The rule targets individuals who repeatedly offer advice through...
Wordsmith + Cognia Partner For AI Powered Managed Services
Wordsmith and ALSP Cognia Law have announced a strategic partnership to provide AI‑powered managed legal services. The collaboration combines Wordsmith's generative AI platform with Cognia's legal engineering and delivery expertise, offering technology, implementation, and operational support to in‑house legal teams....
CFTC Taps Ex-Prosecutor, ‘Billions’ Adviser for Enforcement
The U.S. Commodity Futures Trading Commission announced that David Miller will become its enforcement director on March 2, succeeding a period of heightened scrutiny over derivatives trading. Miller, a former federal prosecutor, has spent the last several years as a...
Ohio Property Buyer Hit with $150,000 Judgment over Hidden Tenant
In June 2020 DQ Dream Properties purchased a Butler County commercial building after the seller asserted the property was vacant and free of tenant rights. A youth football league, the Lakota Tomahawks, had been leasing part of the site since...
Remarks by Chair Atkins on Capital Formation and the INVEST Act
Chairman Paul Atkins highlighted the steep 40% drop in U.S. public companies and outlined a three‑pillar strategy to revive capital formation. He praised the bipartisan INVEST Act and the Empowering Main Street in America Act for introducing “test‑the‑waters” IPO pilots,...
WisdomTree Gets SEC Nod for 24/7 Tokenized Money Market Fund – Bloomberg
WisdomTree received SEC exemptive relief to issue tokenized shares of its $730 million Treasury Money Market Digital Fund. The approval lets investors buy and sell shares at a constant $1 price around the clock, rather than the traditional once‑daily NAV pricing....
SEC Adds Flexibility to M&A, Proxy, and Tender Offer Rules with New Interpretations
On January 23 2026 the SEC’s CorpFin issued new Compliance and Disclosure Interpretations that broaden flexibility for M&A, proxy and tender‑offer rules without formal rulemaking. The revisions permit lock‑up agreements without meeting traditional prospectus conditions, allow privately placed shares to be registered...
SEC Adds Flexibility to M&A, Proxy, and Tender Offer Rules with New Interpretations
On Jan. 23, the SEC’s CorpFin division issued new Compliance and Disclosure Interpretations that loosen proxy‑broker search timing, broaden lock‑up registration on Forms S‑4/F‑4, and add leeway for cross‑border tender offers. The staff also reversed its stance on voluntary Notices of...
Miley Cyrus Asks Court to Dismiss ‘Flowers’ Copyright Case, Calling Similarities to Bruno Mars Hit ‘Commonplace’ and Unprotectable
Miley Cyrus’s legal team filed a motion to dismiss Tempo Secured Music Rights Collateral’s copyright lawsuit alleging her 2023 hit “Flowers” copies elements of Bruno Mars’s 2013 ballad “When I Was Your Man.” Tempo, a music‑rights fund now controlled by Warner Music Group,...
EU Market Integration Proposal: What Asset Managers Need to Know
The European Commission released a Market Integration Legislative proposal on 4 December 2025 to end the long‑standing fragmentation of the EU’s single market for investment funds. The draft consolidates cross‑border marketing rules for UCITS and AIFs into an expanded Regulation (EU) 2019/1156, shifting from...
Germany’s Retirement Savings Shake-Up: What Banks Need to Know
Germany is set to replace the legacy Riester pension with the Altersvorsorgedepot (AVD) from 1 January 2027, ending all new Riester contracts. The reform retains a state allowance of up to €480 per year and expands eligible assets to include ETFs, stocks...
The Hidden Risks in AI Legal Advice: Why SMEs Must Not Confuse Speed with Strategy
UK SMEs increasingly rely on AI-generated legal advice to cut costs and accelerate operations. While AI can produce quick drafts, the article warns that such advice is often only “almost right,” leading to misallocated risk, jurisdictional errors, and costly disputes....
Min Hee-Jin Proposes to Forgo $18M Court Win in Exchange for HYBE Dropping All Lawsuits Against Her, NewJeans, Ex-Employees and...
Min Hee‑jin, former ADOR CEO, offered to forgo a KRW 25.6 billion (≈US $17.9 million) court award in exchange for HYBE dropping every civil and criminal lawsuit involving her, NewJeans, former staff and fans. The proposal follows a Seoul court ruling that ordered HYBE...
Cookieless Server‑side Tracking Still May Require Consent
Cookieless server side tracking does not automatically mean you don't need consent for tracking. Depends on the data you track.
How No-Code AML Cuts Cost and Boosts Agility
Financial institutions are replacing legacy anti‑money‑laundering (AML) systems with no‑code platforms that let compliance teams build rules, workflows and reports via visual interfaces. Traditional solutions can require six to twelve months for deployment and heavy IT involvement, while modern SaaS‑based...
Magistrate Sanctioned over Campaign Leaflet
Magistrate Michelle Bevan‑Margetts was issued formal advice for misconduct after a campaign leaflet she approved contained comments on government policy and the judiciary. The Judicial Conduct Investigations Office determined the remarks were added by her political party without her knowledge,...
Texas AG Sues Shein over Toxic Newborn Garments and Data Risks
Texas Attorney General Ken Paxton filed a second lawsuit in three months against Shein US Services, accusing the fast‑fashion giant of selling newborn garments containing hazardous chemicals and mishandling minors' personal data. The complaint seeks an injunction, consumer restitution, and...
Sovos and Label Partner on CARF Reporting
Sovos and Label have teamed up to launch a joint CARF compliance solution for digital‑asset platforms, integrating Label’s CARF automation with Sovos’ 1099‑DA and broader tax reporting capabilities. The offering, branded Label CARF + Sovos 1099‑DA, automates onboarding, transaction aggregation, foreign‑exchange valuation...
Russia Moves to Bring Crypto Market Under Full State Control
Russia's central bank and finance ministry are drafting legislation to establish a fully regulated domestic cryptocurrency market. The bill, slated for Duma submission in March, would require licensed exchanges, depositories, brokers and asset managers under Central Bank supervision, taking effect...
Are You Taking Source of Funds Seriously?
The Solicitors Regulation Authority’s 2024‑25 AML report flagged source‑of‑funds checks as a persistent weakness, noting that 10% of reviewed files lacked any verification. Firms risk hefty fines, criminal prosecution, and reputational harm if they fail to match client funds with...
The EBA and ESMA Launch a Consultation on the Revised Suitability Assessment Framework for Banks and Investment Firms
The European Banking Authority (EBA) and European Securities and Markets Authority (ESMA) have opened a consultation on revised joint Guidelines for assessing the suitability of management body members and key function holders at large banks and investment firms. The initiative,...
Irreconcilable Decisions and Corruption Allegations in International Arbitration: The Paris Court of Appeal Upholds the ICC Award in KFZO
The Paris Court of Appeal refused to set aside a 2022 ICC arbitral award that ordered the Kish Free Zone Organization (KFZO) to pay €39.5 million to Flower of the East Kish Development Company and its shareholder. KFZO’s challenges – alleging...
Latest SQE2 Pass Rate Hits 78%
The Solicitors Regulation Authority reported a 78% overall pass rate for the October 2025 SQE2 sitting, the highest to date and a two‑point increase from the previous July/August exam. A total of 1,342 candidates sat the assessment, with first‑time takers...
Seeing in the Dark: Towards a Broad Construction of the Access to Data Provisions of the DSA
The Digital Services Act’s Article 40 gives vetted researchers EU‑wide data access to study systemic risks, but its “necessary and proportionate” test may limit that access. Past denials on privacy grounds show researchers often lack prior knowledge of what data they...
HydroGraph Is Granted US EPA, UK REACH and EU REACH Regulatory Clearances for Commercial Scale Graphene Sales Activities
HydroGraph Clean Power announced it has obtained a US EPA TSCA Section 5(e) order and confirmed UK and EU REACH registrations for its graphene materials. The clearances authorize commercial manufacture, supply, and defined uses of turbostratic graphene—both 3‑9‑layer and ~32‑layer grades—across...
Walk Through: Ayora – AI-Driven Matter Pricing
Ayora launched an AI‑driven matter pricing and tracking platform for law firms. Its proprietary data enrichment engine cleans historic matter and time records, addressing the “garbage in/garbage out” challenge. The solution offers agentic pricing, allowing lawyers to set rates and...
OYO’s Parent PRISM Appoints Former SEBI Chairman Ajay Tyagi as Independent Director
PRISM, the holding company behind OYO, has named former SEBI chairman Ajay Tyagi as an independent director. Tyagi brings extensive regulatory experience from his 2017‑2022 tenure at SEBI and prior senior roles in the Ministry of Finance. PRISM operates more than...
‘Doesn’t the Commission’s Case Have to Fail?’ ACCC Faces Critical Questions in Coles Case
The Federal Court examined the ACCC’s claim that Coles misled shoppers with its “Down Down” price tags, questioning whether the regulator proved the promotions were deceptive. The ACCC argues Coles inflated prices before offering short‑lived discounts, creating a false impression...
Claims Handling Breakdowns From LA Wildfires One Year On
One year after the Palisades and Eaton wildfires, first‑party property claims are increasingly turning into legal disputes as insurers lag on replacement cost adjustments and customer service. Many carriers initially undervalued rebuild costs in California’s high‑price market, then froze allowances...
Submission of Rule Filing SR-NSCC-2026-003 – Amend the Clearing Agency Stress Testing Framework
National Securities Clearing Corporation (NSCC) submitted Rule Filing SR‑NSCC‑2026‑003 to the SEC on February 25, 2026, proposing amendments to the shared stress‑testing framework of DTCC, its Fixed Income Clearing Corporation (FICC) subsidiary, and NSCC. The changes aim to broaden scenario coverage, tighten...
Submission of Rule Filing SR-DTC-2026-002 – Amend the Clearing Agency Stress Testing Framework
On February 25, 2026, The Depository Trust Company (DTC) submitted rule filing SR‑DTC‑2026‑002 to the SEC, proposing amendments to the Clearing Agency Stress Testing Framework shared by DTC, the Fixed Income Clearing Corporation, and the National Securities Clearing Corporation. The...
Submission of Rule Filing SR-FICC-2026-004 – Amend the Clearing Agency Stress Testing Framework
On February 25, 2026, Fixed Income Clearing Corporation (FICC) filed rule filing SR‑FICC‑2026‑004 with the SEC to amend the Clearing Agency Stress Testing Framework governing DTCC’s DTC, FICC, and NSCC. The proposed changes aim to modernize stress‑testing methodologies, improve risk...
Tenants Using Bank Fraud Reports to Challenge Rent and Deposit Payments – Claim
Tenants are increasingly filing Authorised Push Payment (APP) fraud reports to contest rent and holding‑deposit payments, treating the banking route as a quicker, less adversarial alternative to traditional tenancy dispute mechanisms. Letting agents are left to defend these claims through...
Crown and Magistrate Courts Digitisation Funding Boost
The UK government will fund every Crown court in England and Wales to operate at maximum capacity in 2026/27, with an extra £287 million for digital upgrades and infrastructure. Total court and tribunal funding rises to £2.785 billion, up from £2.538 billion. No...
Starving the Watchdog
Congress has stripped more than $40 billion of IRS funding authorized by the Inflation Reduction Act, threatening the agency’s capacity to combat cross‑border financial crime. IRS Criminal Investigation referrals fell to a 40‑year low in FY2024, and its special‑agent force has...
Gibson Dunn Discusses CFIUS’ Known Investor Program
On February 6, 2026, CFIUS issued a request for information (RFI) to refine its Known Investor Program (KIP), a fast‑track review mechanism for repeat foreign investors in U.S. advanced‑technology sectors. The RFI outlines eligibility thresholds—at least three covered filings in...
Majority of Gulf Region Companies Now Adopting Gen AI – Survey
A Deloitte survey of 649 tax, finance and legal professionals shows generative AI adoption in the Gulf Cooperation Council has accelerated, with non‑adoption dropping from 52% in 2024 to 29% in 2025. Quality improvement is the top priority (38%), followed...
Trump Pushes Ultra‑restrictive Voting Bill, Inflates Its Impact
President Donald Trump demanded that Congress pass the most restrictive anti-voting bill in US history, the SAVE America Act. But he also exaggerated the bill’s provisions, saying it would impose even more severe restrictions on voting than it actually would....
False Timesheet Explanation "Wholly Unconvincing", Dismissal Fair
The Fair Work Commission ruled that a Hansen Corporation database manager was fairly dismissed after falsifying timesheets. The employee, employed since 2019, claimed manager approval and a long‑standing pattern excused the false entries, but the Commission called his explanation wholly...
NZ to Launch Clearer, Safer Rules for Open Work Visa Holders
New Zealand will overhaul open work visa rules on 20 April 2026, dividing them into two streams: unrestricted visas that allow any employment, self‑employment or business activity, and employer‑only visas that limit holders to a single employer. The change targets visas such as...
Cross-Border Personal Data Transfers: The Remaining Issues Following the Indonesian Constitutional Court Decision
On 19 January 2026 Indonesia’s Constitutional Court dismissed a petition challenging Article 56 of the 2022 Personal Data Protection Law, which governs cross‑border data transfers. The Court held that such transfers are administrative actions of the executive, not matters requiring parliamentary approval, and...
Global Commitment Crucial for Ukraine Justice, Amnesty International Says
Amnesty International urges the world to keep pressure on Russia as the fourth anniversary of the invasion marks a test of global resolve. The organization highlights waning sanctions, reduced U.S. aid, and an unexecuted ICC arrest warrant for President Vladimir...
Here’s What a Google Subpoena Response Looks Like, Courtesy of the Epstein Files
The Department of Justice released more than three million documents tied to the Jeffrey Epstein investigation, including several grand‑jury subpoenas directed at Google. The leaked files reveal Google’s formal responses on company letterhead, detailing the data it produced for specific...
Railroad Company Wins Appeal in Montana Asbestos Death Case
The Ninth Circuit reversed a district court ruling that held BNSF Railway strictly liable for asbestos dust from the Libby, Montana, vermiculite mine, invoking the federal common‑carrier exemption. A 2024 jury had awarded each estate $4 million, but the appeals court...
It Turns Out ClicknClear Is Fending Off an Ugly Lawsuit Filed by a Different ‘Niche’ Licensing Specialist — Judge Grants...
A New York federal judge granted ClicknClear’s motion to dismiss Tresóna Multimedia’s false‑advertising lawsuit, ruling that the company’s statements about required music licenses are non‑actionable opinions of law. The dismissal does not bar Tresóna from filing an amended complaint, which...
Court Rules Against Justice Dept. Search of Reporter’s Computers
A federal magistrate in Virginia ruled that the Justice Department cannot conduct an unsupervised search of seized devices belonging to a Washington Post reporter. The judge ordered that any examination of the material be overseen by the court, rejecting the...
Ninth Circuit Won’t Pause Injunction Against Feds’ Discontinuation of School Mental Health Grants
A three‑judge Ninth Circuit panel denied an emergency stay, leaving in place a district court injunction that bars the U.S. Department of Education from canceling school‑based mental health grants without following required procedures. The court ordered the department to issue...
Feds and Defense Attorneys Lay Out Dueling Narratives in North Texas ‘Antifa’ Trial
A federal prosecutor and defense attorneys opened a high‑profile trial in Fort Worth, alleging that a self‑identified “North Texas antifa cell” conspired to attack the Prairieland Detention Center on July 4, shooting fireworks and injuring a police officer. The government...
OpenAI Fends Off xAi’s Claims of Trade Secret Theft
A U.S. District Judge dismissed xAI's trade‑secret lawsuit against OpenAI, finding no evidence that OpenAI induced former employees to steal confidential information. The ruling emphasized that mere possession of trade secrets does not constitute misappropriation and that the plaintiff failed...