Sheppard, Mullin, Richter & Hampton LLP (LexBlog United States)

5246 results for Sheppard, Mullin, Richter & Hampton LLP (LexBlog United States)

  • Updated EU Competition Rules for Vertical Agreements

    On 10 May 2022, the European Commission adopted new EU competition rules for vertical distribution agreements that entered into force on 1 June 2022, bringing important amendments to the current rules by partly narrowing the safe harbour but also allowing for more flexibility. Distribution agreements that are already in force on 31 May 2022 benefit...

  • PFAS Regulations Could Open Floodgates to Prop 65 Enforcement – Assess & Manage Your Exposure Now

    The group of chemicals known as PFAS (per- and poly-fluoroalkyl substances) are high on the federal regulatory agenda for 2022, as implementation of EPA’s “PFAS Strategic Roadmap” proceeds. One potential consequence will be new additions to California’s “Prop 65 List” of chemicals known to cause cancer or reproductive harm. Already, two PFAS substances are subject to...

  • Is the U.S. solar industry ready to prove its panels aren’t made with Uyghur forced labor?

    The U.S. photovoltaic (PV) industry, solar module suppliers, manufacturers, and renewable energy developers are facing new regulatory challenges with the implementation of new legislation which has a significant impact on such imports. Among the most significant is the Uyghur Forced Labor Prevention Act, Pub. L. No. 117-78, 135 Stat. 1525 (2021) (“UFLPA”), whose provisions became...

  • Will U.S. Customs Seize Your Presumptively Illegal Apparel? Compliance with the Uyghur Forced Labor Prevention Act

    Some apparel, fabric and other goods just became more likely to get stuck at the border if U.S. Customs and Border Protection (“CBP”) suspects they contain cotton from Xinjiang or from companies on a recently published U.S. Government list, or otherwise involve forced labor — whether the brand is aware of it or not.  How...

  • PFAS Regulations Could Open Floodgates to Prop 65 Enforcement – Assess & Manage Your Exposure Now

    The group of chemicals known as PFAS (per- and poly-fluoroalkyl substances) are high on the federal regulatory agenda for 2022, as implementation of EPA’s “PFAS Strategic Roadmap” proceeds. One potential consequence will be new additions to California’s “Prop 65 List” of chemicals known to cause cancer or reproductive harm. Already, two PFAS substances are subject...

  • OIG Issues Favorable Advisory Opinion for Physician-Owned Medical Device Company

    On April 25, 2022, the Office of Inspector General (“OIG”) issued Advisory Opinion No. 22-07 which evaluated the risk of fraud and abuse under the federal anti-kickback statute (“AKS”) posed by an arrangement involving physician-ownership of a medical device company. The opinion identified six characteristics of the arrangement which greatly reduced the risk of fraud...

  • CFTC: Agency Prepared to Regulate Crypto

    On June 14, CFTC Commissioner Christy Goldsmith Romero discussed cryptocurrency regulation, rejecting suggestions that the agency would take a relaxed approach toward regulating cryptocurrency and affirming that the CFTC is positioned to protect consumers if given more authority. Romero said she welcomed efforts to close regulatory gaps through the recent Responsible Financial Innovation Act (RFIA

  • Supreme Court Rules for Physicians in Blow to DOJ

    In one of the final cases of a tumultuous term at the Supreme Court, the Justices ruled against DOJ in a decision that could have wide ranging effects not just for physicians and other prescribers, but for drug control laws more generally. In Xiulu Ruan v. U.S., No. 20-1410 (Jun. 27, 2022), the Court considered the...

  • CFPB Blogs About Need for Standardized Credit Reporting

    On June 15, the CFPB posted a blog, titled “Buy Now, Pay Later and Credit Reporting” discussing the Bureau’s viewpoint on the importance of standardized data furnishing by buy now, pay later (BNPL) firms to consumer reporting companies for inclusion in consumer credit reports. BNPL products provide consumers with a short-term, no-interest credit option and...

  • Buyer (and Seller) Beware: The FTC Is and Will Come for Your M&A Non-Competes

    Since President Biden’s July 2021 direction to the Federal Trade Commission (“FTC”) to “curtail the unfair use of non-compete clauses and other clauses or agreements that may unfairly limit worker mobility,” the FTC has ratcheted up its scrutiny of and investigations into non-compete agreements and other restrictive covenants. Now, the FTC has expanded beyond post-employment...

  • Buyer (and Seller) Beware: The FTC Is and Will Come for Your M&A Non-Competes

    Since President Biden’s July 2021 direction to the Federal Trade Commission (“FTC”) to “curtail the unfair use of non-compete clauses and other clauses or agreements that may unfairly limit worker mobility,” the FTC has ratcheted up its scrutiny of and investigations into non-compete agreements and other restrictive covenants. Now, the FTC has expanded beyond post-employment...

  • Buyer (and Seller) Beware: The FTC Is and Will Come for Your M&A Non-Competes

    Since President Biden’s July 2021 direction to the Federal Trade Commission (“FTC”) to “curtail the unfair use of non-compete clauses and other clauses or agreements that may unfairly limit worker mobility,” the FTC has ratcheted up its scrutiny of and investigations into non-compete agreements and other restrictive covenants. Now, the FTC has expanded beyond post-employment...

  • Office of Civil Rights Publishes Guidance on Use of Audio-Only Telehealth Services

    As telehealth services surged in response to the COVID-19 pandemic, unique compliance challenges likewise developed in unexpected ways. Recognizing these challenges, the Office of Civil Rights (“OCR”) indicated that it would exercise its enforcement discretion by declining to impose penalties against covered health care providers for instances of good faith noncompliance with the requirements of..

  • Supreme Court Saves Hospitals from $1.6B Cut to 340B Program

    On June 15, 2022, in a win for hospitals, the Supreme Court issued its opinion in American Hospital Association et. al. v. Becerra (“Becerra”), overturning massive reimbursement reductions in the 340B drug pricing program (“340B Program”). The 340B Program, in which some 40% of U.S. hospitals participate, requires drug manufacturers to provide outpatient drugs to...

  • NFT Insider Trading – Can There Be A Crime If It’s Not A Security?

    We have previously addressed the recent indictment against Nathaniel Chastain, a former executive of a major NFT marketplace, for insider trading involving NFTs. The indictment charges Chastain with one count of wire fraud and one count of money laundering. It does not allege that the NFT is a security. It does not allege violation of...

  • California Approves Commercial Financing Disclosure Regulations

    On June 9, the California Office of Administrative Law (OAL) approved the Department of Financial Protection and Innovation’s (DFPI) proposed commercial financing disclosure regulations issued pursuant to SB 1235. The regulations will become effective on December 9, 2022, and the final regulatory text can be found here.  Putting it Into Practice: Impacted companies offering should...

  • Supreme Court Holds That PAGA Representative Waivers Are Enforceable In Certain Significant Respects

    On June 15, 2022, the United States Supreme Court issued its much anticipated decision in Viking River Cruises, Inc. v. Moriana. The Supreme Court held that California’s rule invalidating pre-dispute agreements waiving the right to bring “representative” claims under the Private Attorneys General Act of 2004 (PAGA) is partially preempted by the Federal Arbitration Act...

  • NFT Insider Trading Compliance Policies – What They Cover and Why You Need One

    It is well known that insider trading—the practice of buying and selling stocks, bonds, or other securities based on material, non-public information—is unlawful. For that reason, many companies have compliance programs and policies that restrict trading by officers, directors, employees or other “insiders” with access to such information.  What does this have to do with...

  • United States Supreme Court Rules Certain Airline Employees Exempt From Federal Arbitration Act

    On June 6, 2022, a unanimous United States Supreme Court issued another key decision interpreting the Federal Arbitration Act (“FAA”) that will have a significant impact on certain employers going forward. In Southwest Airlines Co. v Saxon, the Court held that the airline’s cargo ramp supervisors were exempt from the FAA as they were a...

  • CFPB Targets Student Loan Debt Relief Scam Reboot

    On June 9, the CFPB filed a complaint and proposed order in California federal district court seeking final judgment against the owner of a student loan debt relief company for allegedly withdrawing more than $240,000 from the bank accounts of student borrowers without authorization. According to the complaint, the defendant, through his company, obtained student...

  • SEC Investigating Lack of Insider Trading Policies for NFT/Crypto Exchanges

    For quite some time, we have been advising that marketplaces and NFT/crypto issuers consider developing an insider trading policy. The SEC is now investigating this issue. If you do not have a policy this is a good time to do so. The issue of NFT-based insider trading became more well known when a high-profile executive...

  • DAO Liability and the bZx Class Action

    A class action lawsuit filed by users of a decentralized finance (“DeFi”) protocol managed by a decentralized autonomous organization, or “DAO,” may shed light on the potential legal liabilities of a DAO and its participants. The complaint in Sarcuni v. bZx DAO, No. 22-cv-0618 (S.D. Cal. May 2, 2022), highlights several issues related to DAO...

  • City of Los Angeles Developer Contribution Ban Goes Into Effect

    On December 4, 2019, the Los Angeles City Council adopted Ordinance No. 186477 which prohibits a “restricted developer” or “principal” from making contributions to the Mayor, City Attorney, City Councilmember, a candidate from one of these offices, or a City committee controlled by one of these individuals (“Restricted City Officials”), effective June 8, 2022. The contribution...

  • Sunshine State Becomes 24th to Certify Regulation of Pole Attachments

    On June 13, 2022, the FCC provided notice that the State of Florida has become the 24th state (including the District of Columbia) to certify state-level regulatory jurisdiction over rates, terms, and conditions for pole attachments.  Under the FCC’s “reverse preemption” framework for its pole attachment rules, Florida’s certification means that, generally, the FCC no...

  • The Legit Ledger Launches: New Podcast Provides Insights and Practical Tips on Blockchain-Related Legal Issues

    Sheppard Mullin is pleased to announce the launch of The Legit Ledger, a new podcast hosted by Sheppard Mullin’s Blockchain and Fintech industry team members (including partners Jim Gatto, Yasamin Parsafar, and associate Gabe Khoury) that focuses on blockchain-related legal issues and practical tips for keeping things legit. Various episodes of The Legit Ledger will feature interviews...

  • New York Releases Stablecoin Guidance

    On June 8, the New York State Department of Financial Services (DFS) released its Guidance on the Issuance of U.S. Dollar-Backed Stablecoins meant to set foundational criteria for USD-backed stablecoins issued by DFS-regulated entities on the issues of redeemability, assets reserves and attestations about such reserves. Here are some of the highlights from the guidance. Backing and...

  • EEOC Issues Guidance Regarding How Employer Software and Artificial Intelligence May Discriminate Against Individuals With Disabilities

    On May 12, 2022, the Equal Employment Opportunity Commission (“EEOC”) issued guidance addressing the application of the Americans with Disabilities Act (“ADA”) to employers utilizing software, algorithms, and artificial intelligence in hiring and employment decisions.  Produced in connection with the EEOC’s launch of its Initiative on Artificial Intelligence and Algorithmic Fairness in October 202

  • FTC Captures $2.7 Million in Restitution from Small Business Financer

    On June 2, the FTC was granted a federal court order permanently barring a merchant cash advance operation and its owner from engaging in further deceptive practices and granting restitution to the customers the company harmed. The defendants offered alternative small business financing by purportedly providing funds to businesses in exchange for a percentage of...

  • California Approves Commercial Financing Disclosure Regulations

    On June 9, the California Office of Administrative Law (OAL) approved the Department of Financial Protection and Innovation’s (DFPI) proposed commercial financing disclosure regulations issued pursuant to SB 1235. The regulations will become effective on December 9, 2022, and the final regulatory text can be found here. Putting it Into Practice: Impacted companies offering should...

  • States Target Infant Formula Price Gouging

    There has been a nationwide shortage of infant formula following a recall and temporary closure of a major infant formula manufacturing facility in February 2022. This facility supplied as much as 40% of the nation’s infant formula. In the wake of these events, state attorneys general are on the lookout for unlawful price gouging of infant...

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