The current environment of higher interest rates and high inflation may have a deleterious effect on the retail industry. Although the fear of interest rates and inflation continuing to rise appears to have tapered off, both are still relatively high in comparison to the past twenty-year period. Each on its own can have a negative
Key Takeaways From McGuireWoods’ Webinar on Enforcement Against PE Funds in Healthcare
On July 9, 2024, McGuireWoods partners Brett Barnett, Mindy Sauter, Mike Elliott, and Michael Podberesky conducted a solution-oriented discussion of key enforcement and compliance developments that impact private equity (“PE”) funds in healthcare. They also highlighted relevant cases regarding the government’s increased interest in compliance diligence in the PE space.
NLRB Dismisses Decertification Petition Because Union’s Disclaimer of Interest Effectively Mooted Employees’ Vote
Walgreens Boots Alliance d/b/a Walgreens Co. and Denise Bentley and United Food and Commercial Workers District Union Local One, case number 03-RD-321385, before the National Labor Relations Board Region 3.
The NLRB left the United Food and Commercial Workers International Union (UFCW) on the shelves long past its sell-by date at several western New York
Supreme Court Holds That SEC Must Seek Civil Penalties in Federal Court
In SEC v. Jarkesy, No. 22-859, 603 U.S. __ (2024), the Supreme Court held that the Seventh Amendment prohibits the Securities and Exchange Commission (SEC or Commission) from seeking civil penalties in certain enforcement actions when the Commission chooses to proceed in-house before its own administrative law judges (ALJs), rather than in federal court. In
OFAC Enforcement Action Targets Non-U.S. Business Purchasing Services From North Korean Firm
On June 26, Treasury’s Office of Foreign Assets Control (OFAC) announced the settlement of an enforcement action against an Italian animation company that violated OFAC’s sanctions on North Korea. The enforcement action highlights several key propositions regarding sanctions compliance: (1) non-U.S. businesses cannot ignore U.S. sanctions if they are transacting through the U.S. or using
Federal District Court Finds Private-Insurer Relator Can Proceed with False Claims Action
Last month, the U.S. District Court for the District of New Jersey held that a private company, Allstate Insurance Company, could proceed with its whistleblower action against a clinical laboratory, Phoenix Toxicology and Lab Services, LLC, which allegedly submitted false claims to the federal government for medically unnecessary urine drug tests (“UDT”). See generally United
Consumer Product and Retail Brown-Bag Lunch Series: Cannabis News
June 27, 2024
McGuireWoods latest installment of its bimonthly brown-bag lunch series that explores important topics affecting the consumer product and retail industries. This webinar covers cannabis industry news and speakers answer questions from attendees..
McGuireWoods Speakers
- Royce B. DuBiner, Partner, Chicago
- Allyson M. Maur, Associate, New York
Disruptive Technology Strike Force Announces Its First Declination to Prosecute Under the National Security Division’s Voluntary Self-Disclosure Program
On May 22, 2024, the Department of Justice’s National Security Division (“NSD”) announced its first declination of prosecution for a company under the voluntary self-disclosure program established by the National Security Division Enforcement Policy for Business Organizations (“NSD Enforcement Policy”). An individual who worked for a United States-based biochemical company, along with his co-conspirator, each
CFPB Establishes New Obligations for Covered Nondepository Institutions Subject to Judicial or Administrative Enforcement Orders
On June 3, 2024, the Consumer Financial Protection Bureau imposed a new set of regulatory obligations on nondepository consumer-financial companies that are subject to court or administrative orders enforcing federal or state consumer-protection laws. The Bureau’s new rule creates a public registry of such orders dating back to January 1, 2017. It requires covered entities
Highlights from the 2024 SIFMA Anti-Money Laundering and Financial Crimes Conference on the Corporate Transparency Act
On May 6, 2024, the Financial Crimes Enforcement Network (“FinCEN”) Director Andrea Gacki, Acting Chief of the Enforcement Division Steve Hsieh, Acting Associate Director of the Policy Division James Martinelli, and other key industry leaders, convened at SIFMA’s Anti-Money Laundering and Financial Crimes conference in New York to discuss, among other things, FinCEN’s priorities for