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Federal Reserve Follows (to a Degree) FinCEN and Other Banking Agencies in Proposing Sweeping AML/CFT Program Reforms

Tue, 14 Jul 2026 11:00:00 Z

On July 7, 2026, the Board of Governors of the Federal Reserve System (the Board or Federal Reserve) issued its own Notice of Proposed Rulemaking (NPRM or Proposed Rule) that would substantially revise the anti-money laundering and countering the financing of terrorism (AML/CFT) program requirements applicable to Board-supervised banks under the Bank Secrecy Act.

Report From FINRA Enforcement External Review: Five Practical Takeaways for Member Firms

Mon, 13 Jul 2026 14:30:00 Z

In this alert, we summarize five of these insights and offer practical advice on using them in Enforcement matters.

Data Centers in Court: The Emerging Wave of Nuisance, Environmental, and Land-Use Litigation

Mon, 13 Jul 2026 09:30:00 Z

Over the past year, several lawsuits have been filed against regulators as well as against data-center developers and operators by neighboring residents and other plaintiffs.

PTAB/USPTO Update - July 2026

Tue, 07 Jul 2026 12:30:00 Z

On July 1, USPTO congratulated Former USPTO Deputy Director Laura Peter on her nomination as Deputy Director General (DDG) of the World Intellectual Property Organization (WIPO)’s Patents and Technology Sector.

ERISA Requires a Fiduciary to Employ a Prudent Process in the Selection of Investment Options, Not Investment Success

Tue, 07 Jul 2026 10:00:00 Z

The Fourth Amendment Moves to the Cloud: Chatrie v. United States and the Future of Digital Privacy

Thu, 02 Jul 2026 16:42:00 Z

On June 29, 2026, in Chatrie v. United States, the Supreme Court held in a 6–3 decision that police conduct a Fourth Amendment “search” when they obtain a person’s cell phone location data through a geofence warrant, notwithstanding the third-party doctrine.

Enforcement of Awards Against Sovereigns - UK Court of Appeal Clarifies Scope of Waiver of State Immunity

Thu, 02 Jul 2026 16:00:00 Z

The Court of Appeal of England and Wales in CC/Devas (Mauritius) Ltd & Others v The Republic of India [2026] EWCA Civ 797 has held that a State’s ratification of the New York Convention does not, by itself, waive sovereign immunity as a defence to the enforcement of an arbitral award.

SEC Rulemaking Updates – Capital Markets Edition

Wed, 01 Jul 2026 13:18:00 Z

SEC proposals would ease disclosure rules, modernize IPOs and boost capital formation as Chairman Atkins advances “Make IPOs Great Again.”

Federal Circuit Patent Watch: Federal Circuit Clarifies The Skilled Searcher Standard For IPR Estoppel And Holds That District Court Relied On Insufficient Evidence To Apply IPR Estoppel

Wed, 01 Jul 2026 10:30:00 Z

A collection of summaries of and links to recent precedential opinions by the United States Court of Appeals for the Federal Circuit.

Harmonizing the Divide: SEC and CFTC Request Comment on Derivatives Jurisdiction and Definitions

Mon, 29 Jun 2026 19:00:00 Z

The SEC and the CFTC are seeking comment on fifteen questions related to Title VII of Dodd-Frank, which divides authority over swaps markets between the SEC and the CFTC.

New Iran Authorization Implements Memorandum of Understanding

Fri, 26 Jun 2026 18:47:00 Z

OFAC Authorizes Production, Delivery and Sale of Iranian Energy Products through August 21, 2026

Readily Ascertainable—WilmerHale's Trade Secret Bulletin: May 2026

Fri, 26 Jun 2026 08:00:00 Z

For this installment of Readily Ascertainable, we cover decisions relating to when the DTSA statute of limitations begins to run, the availability of certain unjust enrichment and reasonable royalty damages remedies, whether and to what extent compilations may qualify as trade secrets, and the preclusive scope of California’s trade secrets statute.

A New Era of Enforcement in UK Sanctions

Thu, 25 Jun 2026 09:00:00 Z

The United Kingdom’s Office of Financial Sanctions Implementation has imposed its first monetary penalties under its new settlement scheme for breaches of the United Kingdom’s Russian sanctions regime and separately published a three-year strategy and cross-government policy paper on sanctions enforcement.

FDA Issues New Guidance for Submitting Patent Information for Listing in the "Orange Book"

Thu, 18 Jun 2026 16:43:00 Z

FDA issued draft guidance on Forms 3542/3542a for Orange Book listings, clarifying procedures and updates; comments due Aug. 14, 2026.

10 Takeaways from the CFTC Event Contracts Proposed Rulemaking

Thu, 18 Jun 2026 14:39:00 Z

On June 10, 2026, the CFTC published a NPRM seeking public comment on proposed amendments to CFTC Regulation 40.11 and the addition of a new Appendix F to the CFTC’s Part 40 rules.

Federal Circuit Finds Jury Instructions in ED Texas Case “Erroneous” and “Improper”

Wed, 17 Jun 2026 16:18:00 Z

A collection of summaries of and links to recent precedential opinions by the United States Court of Appeals for the Federal Circuit.

The SEC Takes Aim at the Trade-Through Rule

Wed, 17 Jun 2026 14:35:00 Z

On June 11, 2026, the Securities and Exchange Commission (SEC) voted to propose the rescission of Exchange Act Rule 611 (the “Order Protection Rule” or “trade-through rule”) and Rule 610(e) (the “locked and crossed markets” prohibition) of Regulation NMS, two provisions that have shaped the structure of US equity markets since 2005. The proposal would eliminate both rules in their entirety, along with related defined terms in Rule 600, and make conforming amendments to other provisions. Comments are due 60 days following publication in the Federal Register.

The TAKE IT DOWN Act Goes Live

Mon, 15 Jun 2026 16:07:00 Z

For tech and social media companies that may qualify as covered platforms, the federal TAKE IT DOWN Act is no longer a future compliance issue but an immediate enforcement risk.

Pentagon Adds 65 New Entities to the 1260H List of Chinese Military Companies

Fri, 12 Jun 2026 14:49:00 Z

On June 8, 2026, the U.S. Department of Defense/War (the “Department” or the “Pentagon”) released an updated version of its list of “Chinese Military Companies” operating in the United States, pursuant to the requirements of Section 1260H of the National Defense Authorization Act (“NDAA”) for Fiscal Year 2021 (the “1260H List”).

New Executive Order on “Strengthening Customs Enforcement” What Importers Need to Know

Wed, 10 Jun 2026 16:00:00 Z

On June 3, 2026, President Trump signed an Executive Order titled “Strengthening Customs Enforcement,” (the Order) directing the Department of Homeland Security (DHS) and U.S. Customs and Border Protection (CBP) to undertake a broad overhaul of the rules governing importation into the United States.

Supreme Court Clarifies Pleading Standard for Induced Infringement in Hikma v. Amarin

Wed, 10 Jun 2026 09:00:00 Z

On June 4, the Supreme Court decided Hikma Pharmaceuticals USA Inc. v. Amarin Pharma, Inc., which was related to the requirements for induced infringement, specifically in the context of “skinny labels” for generic drug products.

Revised EU Technology Transfer Block Exemption Regulation and Guidelines

Tue, 09 Jun 2026 15:25:00 Z

Last month, the European Union's revised Technology Transfer Block Exemption Regulation and accompanying Guidelines came into force, replacing the previous 2014 framework.

President Trump Nominates Five Commissioners to Restore the US International Trade Commission to Full Strength

Tue, 09 Jun 2026 12:28:00 Z

Trump has nominated five new commissioners, whose expected Senate consideration this summer is likely to drive significant changes in Commission practice.

Readily Ascertainable—WilmerHale's Trade Secret Bulletin: March and April 2026

Tue, 09 Jun 2026 09:00:00 Z

For this installment of Readily Ascertainable, we offer a double edition covering trade secret developments from March and April 2026.

One Year after Seven County Trends in NEPA Review and Litigation Risk

Fri, 05 Jun 2026 13:30:00 Z

One year ago, on May 29, 2025, the US Supreme Court issued its unanimous decision in Seven County Infrastructure Coalition v. Eagle County that established a “course correction” to bring agency compliance and judicial review under the National Environmental Policy Act (NEPA) back in line with the statutory text.

USTR Proposes New Section 301 Tariffs on 60 Economies

Thu, 04 Jun 2026 13:30:00 Z

This week, the Office of the US Trade Representative (USTR) has announced proposed tariffs ranging from 10% to 37.5% on 60 U.S. trading partners accounting for over 99% of U.S. imports.

California Supreme Court Permits Judicial Scrutiny of “Blanket” Peremptory Challenges to Judges

Thu, 04 Jun 2026 13:20:00 Z

On May 28, 2026, the California Supreme Court held that courts may, in certain circumstances, look behind peremptory judicial disqualification motions when those motions appear to be part of a coordinated “blanket” effort to remove a judge.

UK Financial Conduct Authority Review of Firms’ Sanctions Systems and Controls

Thu, 04 Jun 2026 11:00:00 Z

On May 28, 2026, the UK Financial Conduct Authority (FCA) published its findings after reviewing 150 authorized firms’ sanctions systems and controls, concluding that while firms have materially improved since 2022, significant gaps remain that continue to drive sanctions breaches.

Potential Implications of Former-CFPB Director Rohit Chopra's Appointment to Lead New California Consumer Protection Agency

Wed, 03 Jun 2026 09:40:00 Z

On May 12, 2026, California Governor Gavin Newsom announced the appointment of Rohit Chopra—former Director of the Consumer Financial Protection Bureau (CFPB) and former Commissioner of the Federal Trade Commission (FTC)—to lead the newly formed Business and Consumer Services Agency (BCSA).

New Executive Order Addressing Early Government Access to Frontier AI Models

Tue, 02 Jun 2026 21:19:00 Z

Today, June 2, 2026, President Trump announced a new executive order (EO) on how the federal government will collaborate with frontier artificial intelligence (AI) models to “modernize government and private sector information systems and harden them against external threats.”

PTAB/USPTO Update - June 2026

Tue, 02 Jun 2026 11:00:00 Z

Starting June 18, the USPTO will require registration for access to the Open Data Portal (ODP), which is the USPTO’s platform to extract USPTO data for free.

DOJ Announces Changes to Accelerate Enforcement of Alleged Public Benefits Fraud

Mon, 01 Jun 2026 10:00:00 Z

On May 27, 2026, the Department of Justice (DOJ) issued a memorandum announcing significant changes intended to accelerate False Claims Act (FCA) investigations of alleged public benefits fraud.

CFTC Enforcement Revises its Policy on Cooperation Credit

Fri, 29 May 2026 12:00:00 Z

CFTC’s new policy encourages self-reporting and cooperation, offering declinations or 25–75% penalty reductions for remediation absent aggravating factors.

Federal Circuit Patent Watch: Distinction Between Result-Oriented Claims and Claims Covering a Concrete Implementation Makes All the Difference for Eligibility

Tue, 26 May 2026 12:30:00 Z

A collection of summaries of and links to recent precedential opinions by the United States Court of Appeals for the Federal Circuit.

What Sports Executives Need to Know About Prediction Markets

Tue, 26 May 2026 10:45:00 Z

Prediction markets are expanding rapidly and cannot be ignored. New sports-focused prediction markets are surging in popularity and operate differently than the familiar state sports-betting frameworks. Gaming regulatory safeguards designed to address the state frameworks may not address the requirements of federal rules, giving rise to the need for new policies and procedures focused on federal regulations.

CMS Announces Moratorium on New Medicare Enrollment for Hospices and Home Health Agencies

Thu, 21 May 2026 19:55:00 Z

On May 13, 2026, the Centers for Medicare & Medicaid Services, in coordination with Vice President JD Vance’s Anti-Fraud Task Force, announced a six-month, nationwide moratorium on new Medicare enrollment for hospices and home health agencies, effective immediately.

The 2026 Election Season Is a Minefield of Pay-to-Play Risks for Investment Advisers

Tue, 19 May 2026 14:00:00 Z

US Securities and Exchange Commission (SEC) Chairman Paul Atkins made news in March when he told an audience of securities industry professionals that change was on the way for Investment Advisers Act Rule 206(4)-5 (the Pay-to-Play Rule or the Rule).

Onshoring Pharmaceutical Manufacturing: Procedures to Apply for Onshoring Agreements to Reduce Section 232 Tariffs

Wed, 13 May 2026 15:30:00 Z

The US Department of Commerce has published the procedures for companies to apply for agreements with the US government to reduce tariffs levied under Section 232 of the Trade Expansion Act of 1962 (Section 232) on imported patented pharmaceutical products by onshoring manufacturing of qualifying products.

DOJ, States Reach Significant Settlement in Agri Stats Information Sharing Antitrust Litigation

Tue, 12 May 2026 19:21:00 Z

The DOJ and a bipartisan group of six state attorneys general announced last week a proposed settlement that provides important guidance on how federal and state antitrust enforcers evaluate information exchanges.

UK High Court Broadens Scope of Legal Advice Privilege

Tue, 12 May 2026 12:00:00 Z

UK High Court in Aabar Holdings v Glencore plc broadened legal advice privilege to cover intra‑group client communications and documents created to seek legal advice.

President Trump Issues New Executive Order Significantly Increasing Sanctions Risk for Non U.S. Companies and Financial Institutions Doing Business with Cuba

Tue, 12 May 2026 10:00:00 Z

Executive Order 14404 authorizes sanctions against foreign (non U.S.) persons engaged in a broad range of Cuba-related business, raising the stakes for firms that previously could operate in Cuba while also maintaining U.S. ties.

The ITC’s Proposed Financial Interest Disclosure Rule: Implications for Section 337 Practice

Tue, 12 May 2026 09:00:00 Z

On April 30, 2026, the ITC proposed rules requiring Section 337 parties to disclose owners and litigation funders; comments are due June 29, 2026.

DOJ Announces Initiative for Data Miners Filing Qui Tam Complaints

Tue, 05 May 2026 10:00:00 Z

On April 30, 2026, the US Department of Justice (DOJ) announced a False Claims Act (FCA) initiative seeking to strengthen its relationship with companies and individuals who analyze publicly available data for signs of potential fraud and file qui tam complaints.

Significant Broadening of UK Corporate Criminal Liability

Tue, 05 May 2026 00:00:00 Z

The Crime and Policing Act 2026 passed into UK law on 29 April 2026. With effect from 29 June this year, therefore, the basis on which a corporate organisation can be found criminally liable in the UK will dramatically broaden.

PTAB/USPTO Update - May 2026

Mon, 04 May 2026 16:00:00 Z

On April 1, the USPTO announced a pre-order procedure regarding substantial new question determination in ex parte reexamination proceedings.

Federal Circuit Patent Watch: Omission of a Coinventor Renders a Patent Invalid When That Error Cannot Be Corrected

Thu, 30 Apr 2026 10:30:00 Z

A collection of summaries of and links to recent precedential opinions by the United States Court of Appeals for the Federal Circuit.

AI and the UK Financial Conduct Authority

Wed, 29 Apr 2026 13:00:00 Z

The UK Financial Conduct Authority (FCA) has elected not to introduce a bespoke AI rule book and has instead applied its existing, outcomes‑focused framework to firms’ design, deployment and oversight of AI systems.

US Department of Agriculture Finalizes Updated NEPA Procedures

Mon, 27 Apr 2026 16:30:00 Z

For infrastructure, energy, and community development projects that require rights-of-way or receive funding from the US Department of Agriculture—including projects on National Forest System lands—agencies within the USDA often lead environmental reviews under the National Environmental Policy Act.

SEC Approves Amendments to FINRA Rule 4210 Replacing Day Trading Margin Requirements with A Modernized Intraday Margin Standard

Thu, 23 Apr 2026 17:58:00 Z

SEC approved FINRA rule replacing day trader margin rules with an intraday margin standard, dropping pattern day trader concepts.

AI and Data Privacy in Investigations: What Legal Teams Need to Know

Tue, 21 Apr 2026 00:00:00 Z

Internal investigations routinely involve processing personal data about identifiable individuals, including employees, witnesses, counterparties, and customers. The use of AI tools to review, classify, summarise, prioritise or generate outputs from that data, engages a demanding set of obligations under the UK General Data Protection Regulation.