All Perspectives

Chicago Partner Matt Prewitt will serve as a moderator at the IP Strategy Summit: New York, hosted by CenterForce, on November 19 in New York.

ArentFox Schiff Partner Lauren Schaefer will speak at Practising Law Institute’s (PLI) Noncompetes and Restrictive Covenants: What Every Lawyer, Human Resources Professional, and Key Strategic Decisionmaker Should Know program on October 1, 2026.

AFS Counsel Fredrick Weber will present at the Greater North Shore Estate & Financial Planning Council’s breakfast meeting on September 16, 2026, in Skokie, Illinois.

A recent California Superior Court decision against Kars4Kids, the charity known for its memorable advertising jingle, demonstrates the significant risks that charities can face if their solicitations are found to be misleading.

The Pharmacy Compounding Advisory Committee (PCAC) is a 14-member US Food and Drug Administration (FDA) advisory panel of pharmacists, physicians, and other experts. It reviews the scientific and safety record for bulk drug substances nominated for compounding and votes on non-binding recommendations to the FDA.

The US Department of Justice (DOJ) is increasingly using the False Claims Act (FCA) to pursue customs fraud, tariff evasion, and duty underpayments, resulting in significant settlements and expanded enforcement activity.

On June 26, Illinois Governor JB Pritzker signed House Bill 4517 into law, amending the Illinois Authorized Electronic Monitoring in Long-Term Care Facilities Act.

On July 13, the US Food and Drug Administration (FDA) proposed a new rule that would fundamentally change how certain drug manufacturers register their facilities and list their products with the agency.

California family offices with clients at or near the $1 billion net worth threshold should be monitoring Proposition 40, the 2026 Billionaire Tax Act, which has qualified for the November 3 ballot and could impose a one-time tax of up to 5% on the net worth of certain California residents if approved by voters.

ArentFox Schiff Partners Kevin Matz, Brian Janowsky, and Tracy McLaughlin will present “Qualified Opportunity Zones and Estate Planning After OBBBA” during a Strafford webinar on July 30, 2026.

In Wilbur-Ellis Company v. Gompert, the US Court of Appeals for the Eighth Circuit affirmed summary judgment for defendants, four former employees of plaintiff, who brought claims against them under the Defend Trade Secrets Act (DTSA) and the Nebraska Trade Secrets Act (NTSA). The Eighth Circuit affirmed the district court’s decision holding that the plaintiff employer had failed to identify its alleged secrets with specificity and had failed to connect circumstantial evidence to any particular trade secret or improper use.

Welcome to the July 2026 issue of “As the (Customs and Trade) World Turns,” our monthly newsletter where we compile essential updates from the customs and trade world over the past month. We bring you the most recent and significant insights in an accessible format, concluding with our main takeaways — aka “And the Fox Says…” — on what you need to know.

The US data center sector is in the midst of a historic capital cycle as artificial intelligence (AI), cloud computing, and digital infrastructure demand pushes hyperscalers and colocation providers to commit capital at unprecedented scale.

On July 2, the Centers for Medicare & Medicaid Services (CMS) released the Calendar Year 2027 Hospital Outpatient Prospective Payment System (OPPS) and Ambulatory Surgical Center (ASC) Proposed Rule (CMS-1850-P).

On July 7, US Securities and Exchange Commission (SEC) Chairman Paul S. Atkins issued a statement outlining the agency’s 2026 Regulatory Agenda and its key priorities for the coming year.

On July 16, the Centers for Medicare & Medicaid Services (CMS) published the 2027 Physician Fee Schedule (PFS) proposed rule. Among other provisions, CMS has now proposed to convert a previously voluntary filing to a mandatory submission: requiring 340B Covered Entities to submit Part D claims data to the Medicare Part D Claims Data 340B Repository beginning in 2027.

A newly filed California suit, Winters v. OpenAI, Inc. et al., may become the first case to test whether product liability and negligence per se theories can reach a generative artificial intelligence (AI) chatbot’s design and deployment decisions, after ChatGPT-4o’s health-related guidance allegedly contributed to a plaintiff’s near-fatal medical emergency.

Headlines that Matter for Companies and Executives in Regulated Industries

Private Clients, Trusts & Estates Partner Sarah Kerr Severson was quoted in Family Wealth Report on the implications of artificial intelligence (AI) notetaking tools for confidentiality and attorney-client privilege.

On July 20, President Trump issued a proclamation imposing an additional 50% ad valorem duty on Canadian-origin alcoholic beverages imported into the United States, effective 12:01 AM ET, August 19. The action is a direct, sector-matched response to Canada’s provincial bans on the purchase, distribution, and retailing of US alcoholic beverages, which have been in effect across virtually all provinces and territories since March 2025.

The Internal Revenue Service (IRS) released Notice 2026-40 on June 18, announcing that proposed regulations regarding qualified opportunity zones (QOZs) under §§ 1400Z-1 and 1400Z-2 of the Internal Revenue Code are forthcoming and providing long-anticipated transitional guidance relating to qualifying investments thereunder.

ArentFox Schiff Partner Kevin Matz will be presenting at the NYU Summer Tax Institute Advanced Trusts and Estates Conference in New York City on July 24, 2026.

ArentFox Schiff is pleased to announce that the firm’s Private Clients, Trusts & Estates Group and 12 partners have been recognized by Chambers High Net Worth 2026 guide, ranking the top attorneys and law firms for international private wealth.

International Trade Partner James Kim was quoted on President Trump’s pivot to Section 338 of the Tariff Act of 1930 as a means to impose tariffs of up to 50% on Canadian imports.

ArentFox Schiff Partner James Westerlind will be a panelist at the Dublin Life Settlement Symposium on September 15, 2026.