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In Antitrust / Competition

United States: DOJ & OSHA – NDAs Canā€™t Silence Whistleblowers

by , , , and 4 Mins Read

On January 14, 2025, the Department of Justice, Antitrust Division and Department of Labor, Occupational Safety and Health Administration issued a Joint Statement, asserting that non-disclosure agreements (NDAs) undermine whistleblower protection laws, including the Criminal Antitrust Anti-Retaliation Act (CAARA), when they deter or prevent an employee from coming forward. The Antitrust Division noted they are focused on allowing individuals to report antitrust violations without the fear of retaliation. The Joint Statement also warns against using NDAs as an improper shield to obstruct an investigation, which may result in separate federal criminal violations for companies.

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In Cybersecurity, Data and Tech

United States: Bipartisan House Task Force on AI releases report with AI innovation principles and recommendations

by , and 4 Mins Read

On 17 December 2024, the Bipartisan House Task Force on Artificial Intelligence released a report on “guiding principles, forward-looking recommendations, and policy proposals to ensure America continues to lead the world in responsible AI innovation.” The report focuses on 15 key areas, including intellectual property, data privacy, healthcare and federal preemption of state law. These principles, recommendations and policy proposals are meant to be a tool rather than the final word on AI. As such, it is anticipated that future AI legislators will use the report to craft AI policy.

In Antitrust / Competition

United States: 2025 HSR Notification thresholds announced

by , , , and 3 Mins Read

The Federal Trade Commission has just announced its annual adjustment to the notification thresholds that determine whether proposed transactions may trigger a filing obligation under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976, as amended. The corresponding adjustments to the HSR filing fee schedule also were included in the announcement. The adjusted notification thresholds and filing-fee schedule will apply to transactions that close on or after the effective date, which will be 30 days after publication in the Federal Register and no earlier than 12 February 2025.

In Antitrust / Competition

United States: FTC Imposes First ā€œGun-Jumpingā€ Penalty in 25 years, in a Record Amount.

by , and 5 Mins Read

The Federal Trade Commission brought its first gun-jumping action in decades against crude oil producers XCL Resources Holdings, LLC, Verdun Oil Company II LLC, and EP Energy LLC, imposing a civil penalty of USD 5.6 million. A ā€œgun-jumpingā€ violation occurs when a proposed buyer exerts control over the operations of the target business before the expiration of the relevant waiting period under the Hart-Scott-Rodino Act. This settlement represents the largest penalty ever imposed for a gun-jumping violation.

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In ESG

Canada: ADvantage ā€“ Shaping a Greener Future – Competition Bureau Publishes Draft Greenwashing Guidelines

by , and 1 Min Read

On 23 December 2024, Canadaā€™s Competition Bureau published draft guidelines concerning environmental claims and compliance with the Competition Act (the “Act”) for public consultation. Updated guidance on environmental claims has been much anticipated following recent amendments to the Act that explicitly prohibit greenwashing as a form of deceptive marketing.

In Cybersecurity, Data and Tech

United States: AI Safety Institute releases its first synthetic content guidance report (NIST AI 100 4)

by , , and 2 Mins Read

The US Artificial Intelligence Safety Institute (AISI), housed within the National Institute of Standards and Technology (NIST), announced on 20 November 2024 the release of its first synthetic content guidance report, NIST AI 100 4 Reducing Risks Posed by Synthetic Content: An Overview of Technical Approaches to Digital Content Transparency. “Synthetic content” is defined in President Biden’s Executive Order on Safe, Secure, and Trustworthy AI as “information, such as images, videos, audio clips, and text, that has been significantly altered or generated by algorithms, including by AI.”

In Antitrust / Competition

United States: DOJ and FTC Withdraw Competitor Collaboration Guidance over Two Republican FTC Commissioner Dissents

by , , and 6 Mins Read

On December 11, 2024, the US Department of Justice and the Federal Trade Commission announced the withdrawal of the 2000 Antitrust Guidelines for Collaborations Among Competitors. These guidelines outlined the agencies’ views on how competitor collaborations should be analyzed under the antitrust laws and provided “safety zones” for certain types of collaborations that the agencies stated would not be subject to challenge.
The FTC vote to withdraw the guidelines was 3-2, with the two Republican commissioners writing dissenting statements criticizing the FTC’s Democratic leadership for the timing of its decisionā€”noting the upcoming change of administration and the lack of action for the preceding ~four years.

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In Anti-Corruption

United States: Nationwide preliminary injunction on Corporate Transparency Act enforcement

by , , , and 6 Mins Read

The Corporate Transparency Act requires “reporting companies” to file “beneficial owner” information and “company applicants” with the Financial Crimes Enforcement Network (FinCEN) as early as 1 January 2025. In a “last minute” 3 December 2024 decision, the US District Court for the Eastern District of Texas in Top Cop Shop, Inc., et al. v. Garland, issued an order temporarily enjoining the US government from enforcing the CTA and CTA regulations

In Employment

United States: Back to business – Trump’s second term and the four major shifts employers should expect

by , , , , and 6 Mins Read

US employers can expect material changes to employment laws under the Trump administration, with impacts felt across their business operations. President-elect Trump’s first term, his campaign platform, and the typical shifts in a Democratic to Republican transition provide clues about what’s to come: federal agencies, policies and rules will become more business-centered and many of the Biden-era worker-focused protections will be rolled back.

In AML & Financial Services Regulatory

Canada: Amplified risks for financial institutions from AI, OSFI and FCAC Report

by and 6 Mins Read

On 24 September 2024, following an in-depth consultation with industry participants, the Office of the Superintendent of Financial Institutions (OSFI) and the Financial Consumer Agency of Canada (FCAC) published their findings concerning the use and adoption of artificial intelligence (AI) by federally regulated financial institutions. The report highlighted that a significant majority of financial institutions will adopt AI by 2026, and also set out a number of key risks that arise for financial institutions from AI usage. OSFI and FCAC emphasized the need for financial institutions to adopt a dynamic and responsive risk management system with respect to AI, and confirmed their commitment to work towards more specific best practices for industry participants.

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