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Welcome to 31 Days to a More Effective Compliance Program. Over this 31-day series in January 2026, Tom Fox will post a key component of a best-practice compliance program each day. By the end of January, you will have enough… more

In the Sunday Book Review, Tom Fox considers books that would interest compliance professionals, business executives, or anyone curious. It could be books about business, compliance, history, leadership, current events, or anything… more

Welcome to 31 Days to a More Effective Compliance Program. Over this 31-day series in January 2026, Tom Fox will post a key component of a best-practice compliance program each day. By the end of January, you will have enough… more

A large plaintiffs’ firm ended 2025 and kicked off 2026 with several ERISA lawsuits against different employee plan sponsors, alleging fiduciary duty violations concerning the management and administration of voluntary benefit… more

In Innovation Pharmaceuticals Inc. v. Cummings Properties, the question before the Appeals Court was whether the plaintiff, Innovation Pharmaceuticals Inc. (“IPI”), provided sufficient notice to its landlord, defendant Cummings… more

Lending by EU credit institutions is regulated under the EU capital requirements regime. Under Article 4(1)(1) of CRR (Regulation (EU) 575/2013), “credit institutions” include deposit-taking banks as well as large MiFID investment… more

The recent announcement of a proposed collective action for damages against housebuilders provides further evidence of a paradigm change in the competition law landscape in the United Kingdom ("UK"). This claim follows commitments… more

On December 12, 2025, Judge Sherilyn Peace Garnett of the United States District Court for the Central District of California granted in part and denied in part a motion to dismiss a proposed investor class action against a large… more

The California Division of Labor Standards Enforcement (DSLE) has updated the Healthy Workplaces/Healthy Families Act Paid Sick Leave poster, which reflects recent amendments to the state’s paid sick leave law… more

On December 18, 2025, Judge Sherilyn Peace Garnett of the United States District Court for the Central District of California dismissed a putative securities class action against a multinational “fast-casual” restaurant chain (the… more

On January 5, 2026, the federal U.S. District Court for the Southern District of New York upheld two discovery orders requiring OpenAI to produce a sample of 20 million de-identified user logs from ChatGPT as part of wide-ranging… more

Over the past year, Canada’s federal and provincial governments have accelerated efforts to dismantle interprovincial labour‑mobility barriers. A key focus is enabling certified professionals, such as insurance advisors, which include… more

In March 2025, Allen Overy Shearman Sterling (A&O Shearman) was commissioned by the Gender Studies Programme of the Chinese University of Hong Kong (CUHK) to identify and analyse Hong Kong legislation and certain Government policies in… more

Effective April 18, 2026, New York City’s ban on credit searches in connection with employment decisions will now apply to all employers in New York State, unless one of the narrowly construed exemptions applies. See New York State… more

In 2019, Allen & Overy (as Allen Overy Shearman Sterling (A&O Shearman) then was) was commissioned to conduct an analysis of Hong Kong legislation and certain Government policies in which a person’s relationship status was a factor as… more

As the fund finance industry continues to grow in numbers, it may seem challenging initially for banks and financial institutions outside of this space to jump in with confidence as new lenders. Joining an existing fund finance credit… more

The start of a new year is an excellent time for employers to review their policies, procedures, and agreements to ensure they are aware of and comply with laws taking effect in 2026. Our attorneys closely track developments in… more

On January 9, 2026, Legislative Decree no. 211 of 30 December 2025 (the “Decree”) was published in the Official Italian Journal, implementing Directive (EU) 2024/1226 on the definition of offenses and penalties for the violation of… more

On January 14, 2026, the Federal Trade Commission (FTC) announced the Revised Jurisdictional Thresholds for Section 7A of the Clayton Act to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act)… more

A Structured Products Primer on the Uses of Rule 424(b) and Rule 433 - Rules 424(b) and Rule 433 under the Securities Act of 1933 (“Securities Act”) are the two primary filing mechanisms for preliminary offering disclosures in the… more

As we settle into 2026, many employers will be turning New Year intentions into action plans. The Employment Rights Act 2025 tops the HR legal to-do list for the year ahead, with significant strategic and operational work required… more

North Dakota surface owners defeated the carbon-storage lobby’s effort to steal their interstices.*  In Northwest Landowners Association, et al, v. State of North Dakota et al, a district court declared a portion of the CO2 underground… more

Overview: On December 19, 2025, the Federal Reserve Board issued a Request for Information (“RFI”) on a proposed “Payment Account prototype.” The proposal responds to growing pressure from payments-focused institutions —… more

The UK Competition and Markets Authority (CMA) has been granted a warrant to search the home of a managing director who denied using his personal phone for work purposes during a dawn raid at his company’s premises… more

In Peebles v. JRK Property Holdings, Inc., the Supreme Judicial Court (“SJC”) interpreted the Massachusetts security deposit statute, G.L. c. 186, §15B. Its ruling arose from two questions certified to the SJC by the United States… more

One year into the second Trump administration, we have seen a continuation of some evergreen enforcement priorities as well as new fonts of potential risk and exposure. As in years past, the investigation and prosecution of health care… more

The National Labor Relations Board (NLRB) is back to operating after recent confirmations restored a quorum and a new General Counsel. While the Board can once again issue decisions, it currently lacks the votes needed to overturn… more

On December 19, the Luxembourg Parliament adopted a law requiring the Luxembourg Business Registers (the LBR) to refuse registration in the Luxembourg Trade and Companies Register (the RCS) and to demand the cessation of duties of any… more

On January 5, 2026, the Office of Inspector General (“OIG”) for the Department of Health and Human Services published Advisory Opinion No. 25-12 (“AO 25-12”), an unfavorable opinion regarding sign-on bonuses offered to caregivers who… more

On January 5, 2026, the Organisation for Economic Co-operation and Development (“OECD”) announced that the Inclusive Framework on Base Erosion and Profit Shifting agreed to a new package of administrative guidance (the “package”) under… more

We have the first New York Appellate Decision on workers’ compensation for the new year! And this is a real throwback case. 1977 accident. Total permanent disability established in 1991. That same year, the carrier agreed to cover… more

As 2025 ended and 2026 commenced with a flurry of legislative activity in New Jersey touching on cannabis businesses. These changes, as a whole, impact several material changes to the marketplace, including: (a) increasing retail… more

The FTC just announced its annual changes to both certain thresholds which govern the need to make an HSR filing, the fees associated with required filings and the thresholds which dictate the legality of interlocking directorates. The… more

Understanding the Strategic Advantages of Florida’s Reformed Family Law -If you’ve spent time wintering in Florida while maintaining ties to Pennsylvania, you’re not alone. Thousands of Americans split their time between these two… more

Michigan football recently made headlines after the university terminated its head football coach following an internal investigation that revealed “credible evidence” of an inappropriate relationship between the former coach and a… more

On January 7, 2026, the Securities and Exchange Commission (“SEC”) proposed amendments to the rules that define which registered investment companies, investment advisers, and business development companies qualify as “small entities”… more

In Town of Concord v. Rasmussen, the Town of Concord (the “Town”) initiated an action against several landowners abutting a road known as Estabrook Road, seeking a declaration that the public had access and use rights to the road. The… more

On January 6, 2026, the New York State Assembly introduced Bill A09452, a proposed Amendment (the “Amendment”) that would materially revise the Trapped at Work Act (the “Act”) if adopted. For background on the Act as originally… more

CMS has made important updates to the hospital price transparency requirements, with the new rules effective January 1, 2026, and enforcement beginning April 1, 2026. While hospitals have been navigating price transparency obligations… more

Looking back on the last year, the U.S. saw a dramatic shift in federal electric vehicle policy in favor of fossil fuels. Among the most significant, the One Big Beautiful Bill Act ended several federal EV and clean vehicle tax… more

In Stone v. Zoning Board of Appeals of Northborough (“Stone”), plaintiffs residing across the street from a proposed 20,000 square foot warehouse appealed a decision by the Northborough Zoning Board of Appeals (the “Board”) that… more

After a decade of cloud migration and incremental modernization, the technology sector is approaching an inflection point. This year, 2026, is shaping up to be the year AI must move from pilots to production. The focus is shifting from… more

On December 16, 2025, the government filed a draft law n°8669 (the Draft Law), which aims to allow, subject to conditions, the deferred payment of the minimum share capital of private limited liability companies (S.à r.l.) for up to… more

The Occupational Safety and Health Administration published a final rule on January 15, 2026 extending several upcoming compliance deadlines—some that would have gone into effect as soon as January 19, 2026—under its revised Hazard… more

The 2026 Italian Budget Law was published in the Italian Official Gazette on December 31, 2025. It introduces significant changes to Italy’s tax framework with material implications for investors, financial intermediaries, and… more

On January 2, 2026, President Trump issued an executive order (the “Order”) under Section 721 of the Defense Production Act of 1950 (50 U.S.C. § 4565) forcing divestiture by HieFo Corporation (“HieFo”), a California-based manufacturer… more

Certain New York City employers soon will be required to submit demographic-based compensation data to the city… more

The Environment Protection Agency (EPA) closed out 2025 with a flurry of actions involving the Toxic Substances Control Act (TSCA), including final risk evaluations for five phthalates and 1,3-butadiene, and an updated risk calculation… more

Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions… more

The Comprehensive Outbound Investment National Security Act of 2025 codifies the framework of the U.S. Department of the Treasury’s outbound investment security program, though with notable and significant differences that, depending… more

A proposed bill, H.R. 6084, the “ERISA Litigation Reform Act,” is largely aimed at raising pleading standards in suits alleging prohibited transactions under ERISA Section 406… more

The continued expansion of data centers—driven by cloud adoption, artificial intelligence (AI), and high-performance computing—is reshaping how investors evaluate infrastructure risk and opportunity. Among the most critical, and often… more

On November 25, 2025, the Appellate Court of Maryland issued a landmark decision in Special Situations Fund III QP L.P. v. Travel Centers of America Inc., upholding the dismissal of stockholder challenges to a public company merger… more

The U.S. Department of Health and Human Services (HHS) and U.S. Department of Agriculture (USDA) recently issued the Dietary Guidelines for Americans (DGA), 2025-2030… more

On January 3, 2026, the United States military conducted an operation in Caracas resulting in the extraction of Venezuelan President Nicolás Maduro and his wife, Cilia Flores. They currently remain in the U.S. facing federal charges… more

On 18 December 2025, the Federal Energy Regulatory Commission (FERC) issued a long-awaited order finding that PJM Interconnection, L.L.C.’s (PJM) tariff is unjust and unreasonable as it relates to co-located load arrangements and… more

The Qatar Financial Centre (QFC), Dubai International Financial Centre (DIFC), and Abu Dhabi Global Market (ADGM) have taken a significant step forward in regional regulatory cooperation by mutually recognising each other's data… more

Opportunities for fraud have never been greater. Both the number of cases and the amounts at stake are vast1 and advances in technology allow fraudsters to deploy increasingly sophisticated and tailored techniques. Moreover, a rapidly… more