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Section 232 Pharmaceutical Tariffs Are Now in Effect Its Not Too Late to Consider Duty Mitigation Strategies

Fri, 16 Oct 2026 14:11:00 Z

On September 29, 2026, the final phase of the Section 232 pharmaceutical tariffs established by Presidential Proclamation 11020 (the Proclamation), became effective, subjecting many imported patented pharmaceuticals and associated ingredients to an additional 100 percent ad valorem duty.

En Banc Eleventh Circuit Abandons Exhaustion Requirement for ERISA Statutory Claims

Thu, 15 Oct 2026 17:38:00 Z

On October 13, 2026, in Bolton v. Inland Fresh Seafood Corp. of America, Inc., the en banc Eleventh Circuit overruled its decades-old precedent imposing a mandatory administrative exhaustion requirement for all statutory claims brought under ERISA.

Long Awaited SEC Proposal Would Restore Fixed-Income Cross Trading for Registered Funds

Wed, 14 Oct 2026 21:26:00 Z

On October 9, 2026, the SEC at long last proposed amendments to Rule 17a-7 under the Investment Company Act of 1940 that would once again permit registered funds to cross trade most fixed-income securities with their affiliates.

What Companies Need to Know to Prepare for the Next Congress

Wed, 14 Oct 2026 17:00:00 Z

The next Congress is likely to bring robust oversight activity, making preparation before an inquiry arrives increasingly important for organizations.

Lame Duck, High Stakes: Congress's Postelection Agenda

Wed, 14 Oct 2026 14:12:00 Z

Congressional postelection sessions often promise more than they deliver. This year’s lame-duck session could be different.

UK SFO Offers Companies Early Dialogue but the Self-Reporting Dilemma Remains

Wed, 14 Oct 2026 09:30:00 Z

On 13 October 2026, the UK Serious Fraud Office (SFO) announced amendments to its Corporate Cooperation Guidance, first published in April 2025.

Treasury Issues First Civil Penalty Under Outbound Investment Security Program

Fri, 09 Oct 2026 11:00:00 Z

On October 7, the US Treasury Department announced its first civil penalty under the Outbound Investment Security Program.

PTAB/USPTO Update - October 2026

Fri, 09 Oct 2026 09:45:00 Z

On September 11, the Patent Trial and Appeal Board (PTAB) announced the addition of two templates with companion guidance (and a glossary) that will now be available for America Invents Act (AIA) trial proceedings.

20261008 SEC Staff Statement Highlights Valuation and Disclosure Expectations for Private Credit and Other Illiquid Assets

Thu, 08 Oct 2026 18:16:00 Z

On September 28, 2026, SEC Chief Accountant Kurt Hohl and Division of Investment Management Director Brian Daly issued a staff statement reminding management, boards, valuation designees, and auditors of existing fair value measurement and disclosure requirements applicable to private assets, particularly private credit.

SEC Approves FINRA’s New “Outside Activities” Rule

Thu, 08 Oct 2026 16:21:00 Z

On September 15, 2026, the SEC approved new FINRA Rule 3290, which will replace existing FINRA rules on outside business activities and private securities transactions.

CFTC Seeks Input on Crypto Asset Regulatory Framework

Thu, 08 Oct 2026 12:45:00 Z

On October 5, 2026, the Commodity Futures Trading Commission (“CFTC”) issued an Advanced Notice of Proposed Rulemaking (“ANPRM”) regarding its intent to establish a comprehensive regulatory framework for retail commodity transactions involving crypto assets (“CTXs”) and the exchanges that offer trading in CTXs, which the CFTC calls crypto asset markets (“CAMs”).

Data Center Outsourcing: Contracting for Contingencies and Complexities

Thu, 08 Oct 2026 12:00:00 Z

As data center projects become increasingly dependent on power availability, permitting, construction, and equipment supply chains, outsourcing agreements should be adapted to address these unique risks.

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

Tue, 06 Oct 2026 18:30:00 Z

Welcome to WilmerHale’s bulletin on recent trade secret case law and relevant news items. We’ve affectionately nicknamed it “Readily Ascertainable” because, unlike a trade secret, it should be easy to figure out. If you have any questions about these cases or the legal issues they implicate, our trade secret experts would be delighted to answer them.

A New Source of Antitrust Exposure: California Adopts Monopolization Prohibition

Tue, 06 Oct 2026 17:56:00 Z

Governor Gavin Newsom signed the COMPETE Act into law on September 30, 2026. For the first time, California’s antitrust statute will reach single-firm conduct.

The Innovation Exemption Arrives: SEC Clears a Conditional Path for Onchain Trading of Tokenized NMS Stocks

Mon, 05 Oct 2026 13:47:00 Z

On September 17, 2026, the SEC issued an order granting five-year conditional exemptive relief to facilitate permissioned onchain trading of tokenized NMS stock through automated market makers and liquidity pools.

New Handbook, Familiar Playbook: Examination Guidance Under One Cover

Fri, 02 Oct 2026 17:46:00 Z

On October 1, 2026, the Division of Examinations of the SEC released its new examination handbook titled The SEC Exam Handbook: A Practical Guide on Process and Engagement.

DOJ Fraud Division Announces New Corporate Enforcement Memo

Fri, 02 Oct 2026 14:00:00 Z

On October 1, 2026, Assistant Attorney General Colin M. McDonald issued a memorandum describing the Department of Justice’s (DOJ) National Fraud Enforcement Division’s (Fraud Division) corporate enforcement priorities and certain directives intended to advance the Fraud Division’s mission.

Not Just Science Fiction: The Legal Reality of Orbital Data Centers

Thu, 01 Oct 2026 12:00:00 Z

As discussed in a previous client alert, growing demand from AI, cloud computing, and digital services is driving interest in alternative data center solutions, including those beyond Earth.

The SEC’s Transfer Agent Modernization Proposal: Implications for Onchain Recordkeeping

Wed, 30 Sep 2026 16:42:00 Z

On September 1, 2026, the Securities and Exchange Commission proposed a comprehensive overhaul of the regulatory framework governing registered transfer agents.

23x5 Trading Comes to US Exchanges: What Firms Should Know Before Launch

Tue, 29 Sep 2026 15:17:00 Z

The anticipated implementation of 23x5 exchange trading by December 6, 2026 represents the most significant expansion of trading hours for US national securities exchanges in decades.

China’s Rise as a Global Biopharma Innovation Hub: Navigating Trends, Opportunities, and Evolving Deal Structures

Tue, 29 Sep 2026 09:30:00 Z

Driven by faster development timelines, lower clinical trial costs, and aggressive government support, China has rapidly shifted from a manufacturer of third-party drugs to a dominant source of early-stage biotech research and innovative clinical assets.

FARA's Future: DOJ Signals Regulatory Revisions and Heightened Enforcement Action

Mon, 28 Sep 2026 08:30:00 Z

The US Department of Justice recently signaled that it may increase its focus on the Foreign Agents Registration Act and a related—but more powerful—statute 18 U.S.C. Section 951.

Preparing for 2027 Congressional Oversight: Key Areas of Risk for Companies

Thu, 24 Sep 2026 07:30:00 Z

As we look ahead to a potential change in control in Congress following the 2026 midterm elections, companies should brace for more active and far-reaching congressional oversight.

DOJ Revises Justice Manual to Limit Reliance on Agency Guidance in FCA Enforcement

Wed, 23 Sep 2026 15:39:00 Z

DOJ’s revised policy limits reliance on agency guidance in enforcement actions, creating potential new defenses in FCA cases.

EU General Court Upholds the Prohibition of Booking/eTraveli

Wed, 23 Sep 2026 11:00:00 Z

A new EU court ruling broadens the European Commission’s merger enforcement powers, raising fresh questions about how future transactions will be assessed.

D.C. Circuit Reaffirms Broad Reach of the Anti-Kickback Statute and Confirms a Strict 60-day Clock on HHS OIG Advisory Opinions

Tue, 22 Sep 2026 15:35:00 Z

Healthcare, pharmaceutical, and life sciences companies have long grappled with the Department of Justice (DOJ)’s expansive view of the Anti-Kickback Statute (AKS), reaching beyond what would be considered traditional bribes or kickbacks.

English Court of Appeal Approves Choice of Arbitration as Global (F)RAND Venue for SEP Licensing Disputes When Made by SEP Owners

Tue, 15 Sep 2026 14:35:00 Z

The English Court of Appeal confirms arbitration as a valid forum for global FRAND SEP disputes, strengthening options for patent owners.

US ITC Seeks Public Comment on Reviving Its Section 338 Reporting Role Following the President’s Use of Section 338 Tariff Authority

Mon, 14 Sep 2026 15:00:00 Z

The US International Trade Commission has opened a public comment period seeking input on how it should carry out its data collection and reporting obligations under Section 338 of the Tariff Act of 1930.

SEC Proposes Rescinding Investment Adviser Pay-to-Play Rule, but Compliance Risks Remain

Mon, 14 Sep 2026 10:30:00 Z

On September 3, 2026, the Securities and Exchange Commission proposed to rescind Rule 206(4)-5 under the Investment Advisers Act of 1940—the federal “pay-to-play” rule for investment advisers (the “Rule”)—in its entirety and eliminate associated recordkeeping requirements.

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

Fri, 11 Sep 2026 15:04:00 Z

IRS Proposed Regulation on Tax-Exempt Schools and Other Nonprofits' Diversity Initiatives

Tue, 08 Sep 2026 17:45:00 Z

On September 3, the Treasury Department and the IRS issued a proposed regulation to end federal tax-exempt status for private schools that have policies or practices found to discriminate on the basis of race.

Data Centers in Dispute: Contract and Treaty Claims in the Global Build-Out

Tue, 08 Sep 2026 13:00:00 Z

Data centers are being developed at an unprecedented pace to meet the continued expansion of cloud computing services and the rapidly growing demand for AI computing capacity.

PTAB/USPTO Update - September 2026

Thu, 03 Sep 2026 10:00:00 Z

On August 3, the USPTO released the latest edition of its series of reports highlighting the profound economic contributions of industries that predominantly rely on intellectual property protection, including patents, trademarks, and copyrights, titled “Intellectual property and the U.S. economy in 2024.”

SEC and FDA Sign Memorandum of Understanding to Share Non-Public Information on FDA Regulated Public Companies

Tue, 01 Sep 2026 21:59:00 Z

The U.S. Securities and Exchange Commission (SEC) and the U.S. Food and Drug Administration (FDA) have signed a Memorandum of Understanding (MOU). On August 31, 2026, the SEC announced the execution of the MOU, which establishes a formalized information-sharing agreement between the agencies.

Texas Demonstrates Expanded Risks for Data Center Developers

Tue, 01 Sep 2026 14:30:00 Z

Large data center projects in Texas are facing increasing scrutiny and a greater risk of delay, with a recent directive from Governor Abbott delaying approvals and affecting many proposed data center projects while eligibility for the state’s large electrical load review process is verified.

Recent DOJ Settlements Highlight False Claims Act Scrutiny of Medicare Advantage Providers

Mon, 31 Aug 2026 15:00:00 Z

In recent weeks, the U.S. Department of Justice (DOJ) has announced three settlements of False Claims Act (FCA) matters—including a $541.5 million settlement just last week— against healthcare providers partnering with Medicare Advantage plans for allegedly causing the submission of false diagnosis codes.

A Step Towards Clarity: SEC Proposes Regulation Crypto Assets

Mon, 31 Aug 2026 14:00:00 Z

On August 18, 2026, the Securities and Exchange Commission (SEC or Commission) proposed Regulation Crypto Assets, which would establish a regulatory framework for offerings of certain investment contracts involving crypto assets (Covered Investment Contracts). This is the SEC’s first proposal designed expressly for crypto asset offerings, and it represents a significant development for an industry that has sought durable, fit-for-purpose guidance on these issues for years.

DOJ Announces Second DEI-Related False Claims Act Settlement

Thu, 27 Aug 2026 16:57:00 Z

On August 25, 2026, the US Department of Justice announced that Deloitte agreed to pay $21.5M to resolve allegations under the False Claims Act that certain DEI initiatives violated federal anti-discrimination requirements.

Federal Circuit Patent Watch: Provisional Application Must Provide Written Description Support For At Least One Claim For Published Patent Application Reference To Be Considered Prior Art To An AIA Patent As Of Date of Provisional Application

Wed, 26 Aug 2026 16:00:00 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 Directors' Duties: Practical Considerations for Boards of UK Companies

Thu, 20 Aug 2026 10:00:00 Z

As artificial intelligence becomes an increasingly important boardroom issue, this article explores how directors can effectively discharge their duties while overseeing AI-related risks and governance challenges.

Trump Administration Directs Establishment of Program for Private-Sector Participation in Cyber Operations Against Transnational Criminal Organizations

Tue, 18 Aug 2026 13:40:00 Z

On August 12, 2026, President Trump issued a memorandum directing the federal government to establish a program allowing vetted private-sector companies to conduct several types of cyber operations against foreign cyber-enabled transnational criminal organizations.

Using Temporary Pauses to Develop Permanent Regulation: The Growing Use of Data Center Moratoria

Tue, 18 Aug 2026 10:00:00 Z

Data center moratoria are emerging as a powerful regulatory tool, creating new legal and business risks for developers, operators and investors.

UK Supreme Court Holds That Foreign States Carrying Out Spyware and Hacking Operations Are Not Entitled to State Immunity from TORT Claims

Fri, 14 Aug 2026 14:34:00 Z

In its recent judgment in The Kingdom of Bahrain v Shehabi and another UKSC 25, the Supreme Court of the United Kingdom denied immunity under the State Immunity Act 1978 to a sovereign State faced with tort claims relating to its alleged remote surveillance of UK-based individuals.

Sports and Gaming Law in the First Half of 2026: Top Five Developments

Thu, 13 Aug 2026 10:00:00 Z

The first half of 2026 underscored how quickly the sports and gaming industries evolve and how hard it is for existing legal frameworks to keep pace.

Understanding implications for vertical mergers from the FTCs recent review of IonQ and SkyWater

Wed, 12 Aug 2026 19:40:00 Z

On July 31, 2026, the Federal Trade Commission (FTC or Commission) closed its investigation into possible vertical antitrust concerns from IonQ Inc.’s (IonQ) proposed $1.8 billion acquisition of SkyWater Technologies Inc. (SkyWater).

Islanded, But Not Unregulated or Unchallenged: New Developments for Behind-the-Meter Data Center Power Generation

Wed, 12 Aug 2026 10:00:00 Z

In a July 2026 client alert, we examined the rapidly evolving legal landscape surrounding data center development, focusing on the growing wave of nuisance, environmental and land-use litigation targeting data center projects. Since publication, several notable developments have further illustrated the pace at which legal and regulatory risks in this area are evolving.

PTAB/USPTO Update - August 2026

Mon, 10 Aug 2026 17:30:00 Z

The USPTO announced that, as of July 1, the USPTO’s Trademarks organization achieved full adoption of the USPTO’s enterprise AI tool, Scout LLM, expanding access to all work units, including examining attorneys.

Federal Circuit Patent Watch: Patent Not Enabled Where Specification "Disclosed No Actual Dosages for Any Compound Within the Scope of the Claims"

Fri, 07 Aug 2026 10:00:00 Z

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

Going Digital by Default SEC Proposes a New Era for E-Delivery

Thu, 06 Aug 2026 11:00:00 Z

SEC’s proposed Reg E-Delivery would make electronic delivery the default, reshaping investor communications and compliance obligations.

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

Wed, 05 Aug 2026 13:12:00 Z

This installment of Readily Ascertainablecoversa Fifth Circuit reversal reinstating a RICO complaint premised on trade secret theft,an order requiring a “bill of particulars” identifying alleged trade secrets in a federal criminal prosecution, a summary judgment ruling that partial client lists reconstructed from memory were not trade secrets, andtwo dismissals of trade secret claims for failure to plead the alleged trade secrets with sufficient particularity.