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.
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 Institutional Limited Partners Association (ILPA) continues to refine its guidance on continuation funds to address the needs of limited partners in the current market.
New York’s data center pause is temporary, but the review process itself will make permanent the assumptions, standards, and evidentiary records that govern future development.
On July 14, the Ninth Circuit vacated a $40 million jury verdict against XP Power, LLC in a closely watched trade secret misappropriation case brought by Comet Technologies USA, Inc. and its affiliates under the federal Defend Trade Secrets Act (DTSA) and, at least initially, the California Uniform Trade Secrets Act (CUTSA).
On July 13, in connection with the suspension of its Cybersecurity Maturity Model Certification (CMMC) Phase II roll-out, the US Department of Defense/War established a CMMC Reform Task Force, charged with reviewing and proposing reforms to the Department’s cybersecurity program requirements for the Defense Industrial Base (DIB).
Businesses and industries have developed comprehensive approaches to protecting confidential, classified, and proprietary information to serve their corporate interests. Now, businesses need to think about and prepare for a new threat: employees using information to make money on online betting platforms.
On June 18, the US Department of Commerce, Bureau of Industry and Security (BIS), announced the release of one new General Authorization (GA) and one amended GA related to the January 16, 2025, “Securing the Information and Communications Technology and Services Supply Chain: Connected Vehicles” Rule (the Connected Vehicles Rule).
D. Jacques Smith, Michael F. Dearington, Nadia Patel, Hillary M. Stemple, Laura Zell, Michelle J. Shapiro, Roberto Martinez, Meredith Gillespie
Headlines that Matter for Companies and Executives in Regulated Industries
On July 14, a California federal court granted a preliminary injunction blocking the California Attorney General from enforcing Senate Bill 343 (SB 343), a law regulating recyclability claims on products and packaging.
Peptides remain one of the hottest topics in the drug industry, and many therapeutic peptides offered for sale today have been compounded.
On July 14, the US Department of Justice (DOJ), together with the US Department of Homeland Security (DHS) and US Customs and Border Protection (CBP), held a major news conference in Chicago, Illinois, announcing that the Trade Fraud Task Force has surpassed $1 billion in criminal and civil recoveries, penalties, forfeitures, and charged losses in less than one year since its launch.
Businesses often focus on whether a regulation is lawful under the Administrative Procedure Act (APA), an inquiry that traditionally turns on whether an agency action is arbitrary and capricious. Recent US Supreme Court decisions suggest a different question may come first: whether courts ever reach that analysis at all.
The US Department of Defense (DoD) issued a memorandum yesterday directing immediate suspension of the Cybersecurity Maturity Model Certification (CMMC) Phase 2 roll-out, which previously was scheduled to go into effect November 10.
D. Jacques Smith, Michael F. Dearington, Nadia Patel, Hillary M. Stemple, Laura Zell, Michelle J. Shapiro, Nardeen Billan, James G. Pizzo
Headlines that Matter for Companies and Executives in Regulated Industries
On July 1, the South Dakota Supreme Court issued a unanimous decision affirming summary judgment in favor of a life settlement investor, holding that the investor was entitled to retain the full $10 million death benefit under a life insurance policy that the insured’s estate had sought to void as an alleged stranger-originated life insurance (STOLI) arrangement.
The US Environmental Protection Agency (EPA) recently released its proposed Sixth Unregulated Contaminant Monitoring Rule (UCMR 6), which would establish the parameters that water systems must monitor.
The US Supreme Court’s 2024 decision in Seven County Infrastructure Coalition v. Eagle County endorsed a narrower vision of the National Environmental Policy Act (NEPA), focused on informing agency decisions rather than producing exhaustive analyses of indirect, cumulative, or policy-related impacts.
On July 7, the DC Council passed the Fiscal Year 2027 Budget Support Act (BSA) of 2026, the annual legislative vehicle through which the Council enacts the legal and policy changes required to carry out the District’s budget.
“Hand made in Austin, Texas” may sound like a charming selling point, but the Federal Trade Commission (FTC) isn’t convinced. On July 6, the FTC issued warning letters to seven companies for questionable domestic-origin claims, covering products from drums and industrial lasers to coordinate measuring machines and e-cigarettes.
A notable trend is emerging in the fashion and beauty industry: professional hair and makeup stylists are increasingly requesting that companies sign agreements designating the stylists’ work as protectable intellectual property. While this is not yet the industry norm, these requests are becoming more common and merit careful attention when negotiating event-related contracts.
On June 29, the Equal Employment Opportunity Commission (EEOC) voted to rescind decades-old guidance on affirmance action. In so voting, the EEOC took the position that the documents ran afoul of Title VII’s text as well as case law that has developed in the intervening years since the guidance was published.
Every July, the Centers for Medicare & Medicaid Services (CMS) publishes two proposed rules, the Physician Fee Schedule (PFS) proposed rule and the Hospital Outpatient Prospective Payment System (HOPPS) proposed rule, that set Medicare reimbursement and shape the administration of the Medicare Part B program for the upcoming calendar year.
While it may seem like there are fewer calls of late to “electrify everything,” the legal debate over whether “gas bans” — local ordinances that prohibit use of fossil fuel-powered appliances in new construction — continues.
In the last year, the Massachusetts Attorney General (AG) adopted two sets of sweeping consumer protection regulations directly impacting assisted living residence (ALR) operators. These regulations significantly expand ALR obligations regarding disclosures, billing, tenancy protections, resident rights, and pricing transparency.