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Corporate Counsel

California DOJ Fines Robinhood $3.9M in First-Ever Crypto Enforcement Action

The company, which also is facing a U.S. Securities and Exchange Commission inquiry, finds itself in regulators' crosshairs despite legal chief Dan Gallagher's pledge to improve the company's compliance culture and work collaboratively with regulators.
3 minute read

Corporate Counsel

FINRA Hires Senior JPMorgan Chase Attorney to Lead Beefed-Up Enforcement Team

Julie Glynn is boomeranging back to FINRA, where she spent seven years as an enforcement attorney before joining the banking giant in 2011.
3 minute read

Corporate Counsel

Financial Firms Hindering Growth by Keeping In-House Lawyers Out of Strategy Meetings, Study Finds

"Today's accelerated speed of regulatory and legal change means that business leaders need to boost their ability to track market forces and lean on legal advisers to look ahead," said Raj De, a Mayer Brown partner.
3 minute read

Daily Business Review

Yacht Broker Says It 'Has Done Nothing Wrong.' Asks Miami Court to Dismiss the Case

"there is no scheme, no contract, no combination, nor a conspiracy," said one defendant of the antitrust litigation.
5 minute read

Law.com

National Association of Realtors Reaches $418M Settlement to Resolve Antitrust Class Actions

"Probably the largest transaction that people will make is buying or selling a home, so for most Americans, being able to save a significant amount of money in connection with that transaction is really meaningful, and it's one of the reasons I wanted to work on this," Plaintiffs' attorney, Robert A. Braun of Cohen Milstein Sellers & Toll, told Law.com.
4 minute read

Law.com

'Anti-Competitive' Commission Rule Challenged in Class Action Filed Against Major Real Estate Brokerages

This case was first surfaced by Law.com Radar.
3 minute read

Corporate Counsel

Will Legal Chief Be Next to Go at Embattled National Association of Realtors?

"It's the toxic culture that's causing employees to call for wholesale change," said Robert Föehl, executive-in-residence for business law and ethics at Ohio University.
8 minute read

Texas Lawyer

Global Energy Trader Sues Ex-President for Alleged Kickbacks and Fraud

"Clark—who was in a supervisory position as PSE's Head of Northeast Trading and later as PSE's President—steered natural gas block trading business to (the third party) and others," the complaint alleges.
4 minute read

Law.com

Massachusetts' Novel 'Fiduciary Duty Rule' for Broker-Dealers Could Lead to 'Patchwork of Regulation' in Other States

"With respect to the industry as a whole, if we end up with a patchwork of state regulation around broker-dealer standards of care, it's going to be very difficult for the broker-dealer community, particularly those that operate on a national level to understand what the requirements are where they operate," said K&L Gates partner Rich Kerr of the recent decision dismissing Robinhood Financial's challenge to Massachusetts' "fiduciary duty rule."
4 minute read

Litigation Daily

Litigators of the Week: In Antitrust Case Against Big Banks, Quinn and Cohen Milstein Land a $499M Settlement and Market Changes

The settlement announced this week with multiple banks over claims they colluded to prop up fees in the stock lending market comes after an earlier $81 million deal with Credit Suisse affiliates.
8 minute read

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