On Tuesday, August 20, 2024, a Texas federal trial court struck down the Federal Trade Commission’s (“FTC’s”) April 23, 2024, rule banning most non-compete agreements in employment contracts (the “Non-Compete Rule”)…
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/ Antitrust & Trade Regulation, Business Organizations, Labor & Employment Law
As counsel for many socially-conscious businesses, perhaps the most frequent early-stage question we field from entrepreneurs is whether they should organize their business as a traditional business entity (such as a corporation…
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/ Business Organizations
The SEC recently took action against Gainvest Legal Corp. and its owner. This action serves as a stark reminder for others in the financial services industry about the importance of a custom-tailored compliance program and how…
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/ Finance & Banking, Securities Law
One will be forgiven for not closely following the myriad crypto developments in recent years. Mixed signals from regulators have complicated matters: some cryptocurrencies may be securities, some are commodities, some exchanges…
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/ Administrative Law, Finance & Banking, Securities Law
With the effective date of the FTC’s ban on non-competes looming, a federal Judge in Pennsylvania declines to issue a preliminary injunction.
A federal judge in Pennsylvania recently declined to enter an injunction against…
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/ Antitrust & Trade Regulation, Labor & Employment Law
On May 16, the Securities and Exchange Commission (“SEC”) announced the adoption of amendments to Regulation S-P, aimed at modernizing and enhancing the rules governing the treatment of consumers’ nonpublic personal information…
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/ Consumer Protection, Finance & Banking, Privacy, Science, Computers, & Technology, Securities Law
The recent case involving Wayzata Investment Partners and the SEC highlights the potential consequences of pay-to-play violations in the investment advisory industry. It also highlights the effects of slow-moving policy change…
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/ Finance & Banking, Securities Law
The SEC's Director of the Division of Enforcement, Gurbir S. Grewal, outlined five principles of effective cooperation with the SEC during his keynote address at the Securities Enforcement Forum West 2024 conference..…
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/ Business Organizations, Securities Law
At the start of this month, FINRA ordered Merrill Lynch to return nearly $1.5 million to its customers. FINRA determined that Merrill reps recommended that customers purchase products in brokerage accounts rather than advisory…
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/ Consumer Protection, Finance & Banking, Securities Law
Across the Commonwealth of Pennsylvania, Pace-O-Matic’s (or “POM’s”) “skill-based” games have been creeping into bars, gas stations, restaurants, and other local establishments. These games resemble slot machines in their…
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/ Art, Entertainment, & Sports Law
When Pennsylvania’s Lottery Law created the state’s lottery in 1971, the internet was still a figment of Al Gore’s imagination. Fast forward half a century, the internet has become a digital battleground, where state lotteries…
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/ Administrative Law, Art, Entertainment, & Sports Law, Science, Computers, & Technology
A press release was recently issued describing a significant joint proposal by the Securities and Exchange Commission (SEC) and the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). The proposal is…
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/ Finance & Banking, Securities Law
On April 17th, the SEC issued a Risk Alert titled “Initial Observations Regarding Advisers Act Marketing Rule Compliance.” Perusing the list of failures, a sense of familiarity arose, given that one of our clients had been…
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/ Finance & Banking, Securities Law
Washington D.C., April 3, 2024, the SEC announced charges against registered investment adviser Senvest Management LLC for widespread and longstanding failures to maintain and preserve certain electronic communications, as well…
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/ Finance & Banking, Securities Law
Earlier this year, the SEC, NASAA, and FINRA issued an Investor Alert cautioning investors about the rise of investment fraud involving artificial intelligence (AI) and other emerging technologies. The overarching concern: bad…
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/ Securities Law
