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Publications Events About Authors

George Abunaw

House v. NCAA Settlement Approved: Era of Direct Payments to College Athletes Begins

On Friday, June 6, 2025, Judge Claudia Wilken of the U.S. District Court for the Northern District of California approved the landmark settlement in the House v. NCAA class action suit (the “House settlement”). The House… more

Antitrust Litigation, Class Action, Collective Bargaining, College Athletes, Compensation

See all updates »

Jimena Acuña Smith

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

See all updates »

Ama Adams

FinCEN Delays AML Program Rule for Investment Advisers

On July 21, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) announced that it intends to delay implementation of its final rule, Anti-Money Laundering/Countering the Financing of Terrorism Program… more

AML/CFT, Anti-Money Laundering, Federal Reserve, Final Rules, Financial Crimes

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Sean Adessky

First Circuit Vacates Summary Judgment Award and $93 Million Order in Revenue Sharing Case

On April 1, 2025, the United States Court of Appeals for the First Circuit overturned a $93 million judgment issued against Commonwealth Financial Network (“Commonwealth”) nearly one year ago in a case by the Securities and… more

Appeals, Disclosure Requirements, Disgorgement, Enforcement Actions, Fiduciary Duty

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Ranee Adipat

[Podcast] Health Care Transaction Laws Unwrapped: Recent Developments on the West Coast

On this fourth episode of Ropes & Gray’s Health Care Transaction Laws Unwrapped podcast series, health care attorneys Ranee Adipat, Jenn Romig and Jaclyn Freshman discuss the latest updates to state health care transaction laws… more

California, Health Care Providers, Hospitals, Investment, Investors

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Tom Alabaster

Takeaways from SuperReturn 2025: Navigating Private Market Fundraising with Purpose and Innovation

The 2025 SuperReturn conference in Berlin last week once again solidified its position as a cornerstone event for the global private markets community, offering a vital platform for insights, networking, and a palpable sense of… more

Asset Management, Credit, Financial Markets, Industry Consolidation, Investment

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Theodore Alexander

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

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Allie Alperovich

DOL Sheds Light on the Fiduciary Responsibilities That Arise with Pooled Employer Plans PEPs

On July 28, 2025, the U.S. Department of Labor (“DOL”) issued some new interpretive guidance as part of a request for information (“RFI”) about pooled employer plans (“PEPs”) and an employer’s fiduciary responsibilities that… more

401k, Department of Labor (DOL), Employee Benefits, Employer Responsibilities, Fiduciary Duty

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Peter Alpert

[Webinar] Navigating ESG: The Impact of the 2024 Election - November 7th, 11:30 am - 12:30 pm ET

Please join us for a first look at the potential implications for ESG in the aftermath of next week’s federal and state elections. Our panel of senior Ropes & Gray ESG partners will provide their take on a range of ESG-related… more

Climate Change, Disclosure Requirements, Diversity, Election Results, Enforcement Actions

See all updates »

S. Lara Ameri

[Podcast] Talkin’ Trade: Unpacking Recent ITC Trade Secret Misappropriation Case Law

On this episode of Ropes & Gray's ITC-focused podcast series, Talkin' Trade, IP litigators Matt Rizzolo, Matt Shapiro, and Lara Ameri break down the ITC’s recent decision in Investigation No. 337-TA-1352, a case involving trade… more

Discovery, Domestic Industry Requirement, Enforcement Actions, International Trade, International Trade Commission (ITC)

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Devon Applegate Caton

Supreme Court to Consider Closing a Back Door to Fund Litigation Claims Under the Investment Company Act

On June 30, the U.S. Supreme Court agreed to hear a case that will determine whether Section 47(b) of the Investment Company Act of 1940 (ICA) creates a private right of action for shareholders of registered investment companies… more

Activist Investors, Appeals, Asset Management, Investment Advisers Act of 1940, Investment Company Act of 1940

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Paul Armstrong

From Storage to AI Factories: Data Centre Investment Considerations for Private Capital Investors

Data centres have become one of the most critical assets of the digital age and form one of the key pillars in modern infrastructure investment. Once viewed as passive storage units, today they power everything from streaming… more

Artificial Intelligence, Data Centers, Energy Sector, Infrastructure, Investment

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Geoffrey Atkins

DOJ’s New FCPA Playbook: “Time To Get To Work”

On June 9, 2025, the U.S. Department of Justice (“DOJ” or the “Department”) issued the highly anticipated guidelines for investigations and enforcement of the Foreign Corrupt Practices Act (“FCPA”) (“FCPA Guidelines”), thereby… more

Bribery, Corporate Misconduct, Department of Justice (DOJ), Enforcement Actions, Enforcement Priorities

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David Ault

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Megan Baca

[Podcast] R&G Tech Studio: AI Innovation vs. Safety—Insights on a New Executive Order

On this episode of the R&G Tech Studio podcast, Ropes & Gray partners and co-leaders of the firm’s AI initiative, Megan Baca and Ed McNicholas, delve into the key implications of President Trump’s new AI Executive Order 14179,… more

AI Act, Artificial Intelligence, Biden Administration, Compliance, Executive Orders

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Edward Baer

Navigating the Complexities of ETF Share Class Integration: Key Operational Challenges and Industry Insights

One of the most talked about topics in asset management is the possibility of offering Mutual Fund and ETF Classes in the same Fund. For fund sponsors and service providers looking to offer this service, there are significant… more

Asset Management, ETFs, Financial Services Industry, Investment Funds, Investment Management

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Jessica Band

FDA Finalizes Guidance on Remote Regulatory Assessments, But How Will They Support the Administration’s Manufacturing-Related Objectives?

In response to travel restrictions imposed during the COVID-19 pandemic, the U.S. Food and Drug Administration (“FDA”) began conducting remote regulatory assessments (“RRAs”) of medical products companies and other FDA-regulated… more

Executive Orders, Final Guidance, Food and Drug Administration (FDA), Imports, Manufacturers

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Mark Barnes

Closeout Requirements During Appeals of Terminations of NIH Research Grants

On July 7, 2025, the National Institutes of Health (NIH) Office of Policy for Extramural Research issued NOT-OD-25-128, titled “Guidance on Enforcement of Closeout Requirements During the Appeals Process” (the Notice). The… more

Appeals, Compliance, Department of Health and Human Services (HHS), Enforcement, Federal Funding

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Jake Barr

DOJ Releases FAQs and Compliance Guidance for Final Rule Restricting Flow of Bulk Sensitive Personal Data to China and other Countries of Concern

On April 11, 2025, the Department of Justice (“DOJ”) released additional detail regarding the Final Rule implementing former President Biden’s Executive Order 14117, “Preventing Access to Americans’ Bulk Sensitive Personal Data… more

China, Compliance, Corporate Counsel, Data Privacy, Department of Justice (DOJ)

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Samantha Barrett Badlam

DOJ and HHS Announce False Claims Act Working Group & Enforcement Priority Areas

On July 2, 2025, the U.S. Department of Justice (“DOJ”) and the Department of Health and Human Services (“HHS”) announced the formation of the DOJ-HHS False Claims Act Working Group, signaling a continued and coordinated effort… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Department of Justice (DOJ), Drug Pricing, Enforcement Actions

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Sarah Barth

Executive Order Calls for Most-Favored-Nation Pharmaceutical Pricing for American Patients

On May 12, 2025, President Trump issued an executive order (the “Executive Order”) directing executive agencies and, imminently, pharmaceutical manufacturers to take steps to deliver most-favored-nation (“MFN”) prescription drug… more

Department of Health and Human Services (HHS), Drug Pricing, Executive Orders, Food and Drug Administration (FDA), Government Agencies

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Michael Beauvais

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

Melissa Bender

SEC Crypto Roundtables Illuminate Regulatory Path for Digital Assets and Trading Platforms

On April 10, 2025, the SEC’s newly formed Crypto Task Force held the second of its promised series of roundtables in the SEC’s “Spring Sprint Toward Crypto Clarity” initiative. Titled “Between a Block and a Hard Place: Tailoring… more

Blockchain, CFTC, Cryptocurrency, Digital Assets, Howey

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Elana Bengualid Harary

New York's Health Information Privacy Act Aims to Strictly Regulate Consumer Health Data

On January 22, 2025, the New York State Assembly and Senate rapidly passed the wide-ranging New York Health Information Privacy Act (“NY HIPA”). If not vetoed by Governor Kathy Hochul, NY HIPA would be the fourth enacted state… more

Compliance, Consent, Consumer Privacy Rights, Data Collection, Data Privacy

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Christina Bergeron

Five Key Legal Considerations for Investments in Engineering and Design Firms

As the demand for infrastructure assets continues to grow, infrastructure investors are increasingly looking beyond traditional core infrastructure assets and turning their attention to infrastructure services businesses. Among… more

Acquisitions, Construction Industry, Contract Terms, Contractors, Corporate Governance

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Lauren Biggs

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Megan Bisk

[Podcast] Alumni @ RopesTalk: Conversation with Dan Krockmalnic, Boston Globe Media

On this episode of Ropes & Gray’s Alumni @ RopesTalk podcast, employment, executive compensation, and benefits partner Megan Bisk is joined by alum Dan Krockmalnic, chief operating officer and general counsel at Boston Globe… more

Business Development, Career Development, Corporate Counsel, Executive Compensation, Innovative Technology

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Natalie Blanc

Petrofac Restructuring Plans Overturned: When Considering Restructuring Surplus’ Allocation, Sharing is Caring

In a much-anticipated judgment (Saipem SPA & Ors v Petrofac Limited & Anor [2025] EWCA Civ 821), the English Court of Appeal overturned the High Court’s sanction of Petrofac’s restructuring plans (the Plans). Petrofac was only… more

Appeals, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Corporate Restructuring

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Sarah Blankstein

The Biden Administration’s Swan Song on Digital Health: Two FDA Guidances on Artificial Intelligence and FDA’s Defense of its Clinical Decision Support Guidance

In the waning days of the Biden administration, the FDA released a flood of new guidance documents and other agency actions, including several important items related to digital health. On January 7, FDA published two new draft… more

Artificial Intelligence, Biden Administration, Data Management, Digital Health, Food and Drug Administration (FDA)

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Zachary Blume

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

Sarah Blumenthal

Effect of Changes to Title IV of the Higher Education Act in the One Big Beautiful Bill

The “One Big Beautiful Bill Act” (the “Act”), which recently became law, makes significant changes to federal financial aid programs administered under Title IV of the Higher Education Act of 1965 (“HEA”). These changes impact… more

Department of Education, Education Reform, Educational Institutions, Federal Funding, Federal Student Loans

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Robyn Bond

Meet the In-Laws: the UK’s Digital Legislative Agenda for 2025

After its election to power in July 2024, the newly formed Labour government wasted little time in announcing its legislative priorities for the coming year. Unsurprisingly, these priorities included several proposed Bills… more

Cybersecurity, Data Privacy, Data Protection, Digital Media, General Data Protection Regulation (GDPR)

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Lauren Brady

AI-Washing Enforcement in the Final Days of the Gensler Administration

As former Securities and Exchange Commission (“SEC”) Chair Gary Gensler’s term came to a close following his resignation announcement in November 2024, the SEC issued another order targeting what has proved to be one of… more

Artificial Intelligence, Disclosure Requirements, Enforcement Actions, Intellectual Property Protection, Machine Learning

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Daisy Bray

Regulation of Laboratory Developed Tests in APAC

Laboratory Developed Tests (LDTs) are critical for diagnosing rare diseases and addressing unmet clinical needs. They are developed, manufactured, and used within a single licensed clinical laboratory for purposes of clinical… more

Asia Pacific, Australia, Centers for Medicare & Medicaid Services (CMS), China, CLIA

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Douglas Brayley

[Webinar] Navigating ESG: The Impact of the 2024 Election - November 7th, 11:30 am - 12:30 pm ET

Please join us for a first look at the potential implications for ESG in the aftermath of next week’s federal and state elections. Our panel of senior Ropes & Gray ESG partners will provide their take on a range of ESG-related… more

Climate Change, Disclosure Requirements, Diversity, Election Results, Enforcement Actions

See all updates »

Robin Briendel

U.S. District Court Ruling Vacates HIPAA Final Rule that Strengthened Privacy Protections for Reproductive Health Information

On June 18, 2025, the United States District Court for the Northern District of Texas Amarillo Division issued an opinion, Purl v. Department of Health and Human Services, declaring the U.S. Department of Health and Human… more

Abortion, Court of Justice of the European Union (CJEU), Data Privacy, Department of Health and Human Services (HHS), Disclosure Requirements

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Dervla Broderick

Irish Merger Control Update and Outlook for 2025

In February 2025, the Competition and Consumer Protection Commission (CCPC) published its annual report on mergers and acquisitions, providing details on the transactions reviewed by the CCPC in 2024. This update provides our… more

Acquisitions, Antitrust Violations, Competition, Competition Authorities, European Commission

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Brian Brooks

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Peyton Brooks

CMS Publishes Federal Fiscal Year 2026 Hospital Payment Proposed Rule

On April 11, 2025, the Centers for Medicare & Medicaid Services (“CMS”) published its annual proposed rule for the federal fiscal year (“FFY”) 2026 inpatient prospective payment system (“IPPS”) and long-term care hospital… more

Centers for Medicare & Medicaid Services (CMS), Healthcare, Healthcare Facilities, Hospitals, Medicaid

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Eve Brunts

Proposed Changes to Medicare Payment Rules: What Life Sciences Companies Need to Know

The Centers for Medicare & Medicaid Services (“CMS”) recently released two proposed updates to Medicare payment rules that, if implemented, could have a significant impact on life sciences companies. The Medicare proposed rules… more

Centers for Medicare & Medicaid Services (CMS), Drug Pricing, Life Sciences, Manufacturers, Medicare

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Will Bryant

Evolving Dynamics and Optimism; Our Forecasts for the Real Estate Market in 2025 for Private Capital

In 2025, the real estate market for private capital will evolve considerably, driven by economic shifts, regulatory pressures, and advancements in technology. As a maturing debt landscape, rising demand for sustainable assets,… more

Artificial Intelligence, Asset Management, Commercial Real Estate Market, Financing, Interest Rates

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Oscar Burman

Petrofac Restructuring Plans Overturned: When Considering Restructuring Surplus’ Allocation, Sharing is Caring

In a much-anticipated judgment (Saipem SPA & Ors v Petrofac Limited & Anor [2025] EWCA Civ 821), the English Court of Appeal overturned the High Court’s sanction of Petrofac’s restructuring plans (the Plans). Petrofac was only… more

Appeals, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Corporate Restructuring

See all updates »

Matthew Byron

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

Shannon Capone Kirk

[Podcast] Multidimensional Data Reversion: From Search Terms to GenAI—How We Got Here and What We Learned Along The Way

On this episode of Ropes & Gray’s Insights Lab’s multi-part Multidimensional Data Reversion podcast series, Shannon Capone Kirk and David Yanofsky discuss how artificial intelligence and machine learning are being applied to… more

Artificial Intelligence, Document Review, e-Discovery, Internal Investigations, Legal Technology

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Christopher Capuzzi

Capital Markets & Governance Insights - July 2025

In a broad reversal of course on proposed rules issued by the Securities and Exchange Commission (SEC) under the leadership of former SEC Chair Gary Gensler, on June 12, 2025, the SEC issued a notice withdrawing fourteen of the… more

Capital Markets, Corporate Governance, Disclosure Requirements, Enforcement Actions, FinTech

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Minal Caron

With Implementation Deadline Looming, ORI Releases Sample Research Misconduct Policies and Procedures

On June 4, 2025, the U.S. Department of Health and Human Services Office of Research Integrity (“ORI”) published a Sample Policies and Procedures for Addressing Allegations of Research Misconduct (“Sample Policy”) to align with… more

Compliance, Department of Health and Human Services (HHS), Final Rules, Government Agencies, National Institute of Health (NIH)

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Kenan Ceylan

New Horizons: Implications of the UK-India Trade Agreement for Life Sciences and Innovation

The UK and India have announced one of the “biggest and most economically significant” bilateral trade agreements the UK has signed since Brexit, following years of discussions. This marks a significant milestone for the UK life… more

India, Innovation, Intellectual Property Protection, International Trade, Investment

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Raj Chakraborty

USPTO Rescinds Interim Guidance on Discretionary Denials

On February 28, 2025, the U.S. Patent and Trademark Office (“USPTO”) rescinded its June 21, 2022 Memorandum entitled “Interim Procedure for Discretionary Denials in AIA Post-Grant Proceedings with Parallel District Court… more

Appeals, Intellectual Property Litigation, Inter Partes Review (IPR) Proceeding, New Guidance, Patent Invalidity

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Lauren Chan

Considering the Use of AI in Legal Investigations

In today's rapidly evolving legal landscape, the integration of Artificial Intelligence (AI) into investigation and document review processes is transforming the way legal professionals operate. AI technologies promise… more

Artificial Intelligence, Bias, Document Review, e-Discovery, Investigations

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Kimberley Charles

A CSRD Transposition Update – Three Additional Countries Adopt the “Stop the clock” delay

Reporting obligations under the European Union’s Corporate Sustainability Reporting Directive are created under EU member state national legislation adopted pursuant to the CSRD. We have again updated our tracker to reflect the… more

Corporate Governance, Corporate Sustainability Reporting Directive (CSRD), Disclosure Requirements, EFTA, EU

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Bryan Chegwidden

Share Class Structures for Mutual Funds/ ETFs: How Fund Groups Can Begin Preparing for Anticipated SEC Exemptive Relief

This white paper is intended to guide and inform registered funds, their sponsors and other service providers and their boards (“Boards”) as they prepare to take advantage of potentially forthcoming exemptive relief (the “Share… more

Compliance, Disclosure Requirements, Financial Services Industry, Investment Funds, Investment Management

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Chelsea Childs

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

See all updates »

Jungje (Jay) Choi

FTC Announces Revised HSR Filing Fees, Thresholds, Penalties, and Interlocking Directorate Thresholds for 2025

The Federal Trade Commission (“FTC”) announced the new filing fees, along with the annual adjustment to jurisdictional thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”), as amended. The filing fee… more

Antitrust Provisions, Competition, Enforcement Actions, Federal Trade Commission (FTC), Filing Fees

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Fang Wei Chua

New Horizons: Implications of the UK-India Trade Agreement for Life Sciences and Innovation

The UK and India have announced one of the “biggest and most economically significant” bilateral trade agreements the UK has signed since Brexit, following years of discussions. This marks a significant milestone for the UK life… more

India, Innovation, Intellectual Property Protection, International Trade, Investment

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David Chun

South Korea Re-enters the Race for Asia’s First Mandatory Human Rights Due Diligence Law

On June 13, Representative Jung Tae-ho re-introduced the “Legislative Bill for the Act on the Protection of Human Rights and the Environment for Sustainable Business Management,” also known as the Corporate Human Rights and… more

Board of Directors, Business Entities, Corporate Counsel, Corporate Governance, Corporate Social Responsibility

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Diana K. Cieslak

DOJ and HHS Announce False Claims Act Working Group & Enforcement Priority Areas

On July 2, 2025, the U.S. Department of Justice (“DOJ”) and the Department of Health and Human Services (“HHS”) announced the formation of the DOJ-HHS False Claims Act Working Group, signaling a continued and coordinated effort… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Department of Justice (DOJ), Drug Pricing, Enforcement Actions

See all updates »

Eva Ciko Carman

[Webinar] Navigating ESG: The Impact of the 2024 Election - November 7th, 11:30 am - 12:30 pm ET

Please join us for a first look at the potential implications for ESG in the aftermath of next week’s federal and state elections. Our panel of senior Ropes & Gray ESG partners will provide their take on a range of ESG-related… more

Climate Change, Disclosure Requirements, Diversity, Election Results, Enforcement Actions

See all updates »

Matthew Cin

Key Privacy and Cybersecurity Watchdogs Make Their Naughty Lists

Although 2024 saw several states enact comprehensive privacy legislation, another year is nearly gone, and we still do not have a comprehensive federal privacy law to resolve the rapidly evolving patchworks of state laws… more

Automatic Renewals, Breach Notification Rule, Browser History, Consent, Cybersecurity

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Jason Claman

State ESG Update and Analysis for Asset Managers and Financial Institutions

As we discussed in our white paper “ESG and Public Pension Investing in 2023: A Year-to-Date Recap and Analysis”, there was a surge in legislative activity in 2023 among red states curtailing the use of environmental, social and… more

Asset Management, BlackRock, Boycotts, Chevron Deference, Corporate Social Responsibility

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Olivia Clark

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Drew M. Clary

CMS Announces Significant Changes to RADV Auditing Efforts: Considerations and Next Steps for the Medicare Advantage Industry

On May 21, 2025, the Centers for Medicare and Medicaid Services (“CMS”) announced plans to substantially increase both the pace and the scale of Risk Adjustment Data Validation (“RADV”) audits of the Medicare Advantage (“MA”)… more

Audits, Centers for Medicare & Medicaid Services (CMS), Department of Justice (DOJ), Enforcement Actions, False Claims Act (FCA)

See all updates »

Sarah Clinton

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

See all updates »

Alyssa Clough Horton

[Podcast] Navigating the SEC's New Marketing Rule FAQ Guidance

On this Ropes & Gray podcast, Alyssa Horton and Colleen Meyer, both counsel in the private funds regulatory group, explore the recent SEC staff guidance on the Marketing Rule. They discuss the new FAQs issued on March 19, 2025,… more

Disclosure Requirements, Investment Advisers Act of 1940, Investment Funds, Investment Management, Marketing

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Devin Cohen

CMS Announces Significant Changes to RADV Auditing Efforts: Considerations and Next Steps for the Medicare Advantage Industry

On May 21, 2025, the Centers for Medicare and Medicaid Services (“CMS”) announced plans to substantially increase both the pace and the scale of Risk Adjustment Data Validation (“RADV”) audits of the Medicare Advantage (“MA”)… more

Audits, Centers for Medicare & Medicaid Services (CMS), Department of Justice (DOJ), Enforcement Actions, False Claims Act (FCA)

See all updates »

Jackie Cohen

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

Luke Colle

SEC Launches Crypto Regulatory Task Force

Yesterday, SEC Acting Chairman Mark Uyeda launched a crypto task force to develop a “comprehensive and clear regulatory framework for crypto assets.” Commissioner Hester Peirce – dubbed “Crypto Mom” by the industry for her… more

Blockchain, Cryptoassets, Cryptocurrency, Digital Assets, Enforcement Actions

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Kellie Combs

Insights from the Third Annual Ropes & Gray Rare Disease Forum

Ropes & Gray recently hosted its Third Annual Ropes & Gray Rare Disease Forum on May 1, 2025 in Cambridge, Massachusetts. The event gathered legal, commercial, and patient advocacy experts in the rare disease community to… more

Artificial Intelligence, Clinical Trials, Compliance, Drug Pricing, Enforcement Actions

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Christopher Comeau

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

Christopher Conniff

House v. NCAA Settlement Approved: Era of Direct Payments to College Athletes Begins

On Friday, June 6, 2025, Judge Claudia Wilken of the U.S. District Court for the Northern District of California approved the landmark settlement in the House v. NCAA class action suit (the “House settlement”). The House… more

Antitrust Litigation, Class Action, Collective Bargaining, College Athletes, Compensation

See all updates »

Kyle Connors

Adapting to the IRA: Early Lessons Learned on the IRA’s Impact on Deal-Making, Drug Economics, and Business Strategy

More than two years after the passage of the Inflation Reduction Act (“IRA”) and the Centers for Medicare and Medicaid Services’ (“CMS’”) rapid implementation of the drug price negotiation program, the life sciences industry is… more

Biotechnology, Business Strategies, Centers for Medicare & Medicaid Services (CMS), Drug Pricing, Food and Drug Administration (FDA)

See all updates »

Emma Coreno

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Harvey Cotton

Tri-Agencies Stay Enforcement of the 2024 MHPAEA Final Rules

On May 15, 2025, the Departments of Labor, Health and Human Services (“HHS”) and the Treasury (“the Departments”) issued a nonenforcement policy of the final rules under the Mental Health Parity and Addiction Equity Act of 2008… more

Constitutional Challenges, Department of Health and Human Services (HHS), Department of Labor (DOL), Employee Benefits, Employer Group Health Plans

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John Creedon

The Current State of Energy and Infrastructure in the US: Key Takeaways from Proximo Congress 2025

Ropes & Gray attended Proximo Congress 2025 in Nashville last week, where leading dealmakers and advisors convened to discuss the future of energy and digital infrastructure in the US against a backdrop of immense policy… more

Capital Markets, Clean Energy, Energy Policy, Energy Projects, Energy Sector

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Christopher Crum

Adversarial Machine Learning in Focus: Novel Risks, Straightforward Legal Approaches

The Artificial Intelligence and Machine Learning (“AI/ML”) risk environment is in flux. One reason is that regulators are shifting from AI safety to AI innovation approaches, as a recent DataPhiles post examined. Another is that… more

Artificial Intelligence, Compliance, Cybersecurity, Data Breach, Data Privacy

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Nick Curry

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

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Matthew Czyzyk

Petrofac Restructuring Plans Overturned: When Considering Restructuring Surplus’ Allocation, Sharing is Caring

In a much-anticipated judgment (Saipem SPA & Ors v Petrofac Limited & Anor [2025] EWCA Civ 821), the English Court of Appeal overturned the High Court’s sanction of Petrofac’s restructuring plans (the Plans). Petrofac was only… more

Appeals, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Corporate Restructuring

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Cooper D'Anton

CIPAC Disbandment and CISA 2015 Reauthorization: Recent Developments in the U.S. Cybersecurity Landscape

On March 7, 2025, the Department of Homeland Security (“DHS,” “the agency”) disbanded the Critical Infrastructure Partnership Advisory Council (“CIPAC,” “the Council”), originally established in 2006 to facilitate communication… more

Critical Infrastructure Sectors, Cybersecurity, Cybersecurity Information Sharing Act (CISA), Data Breach, Department of Homeland Security (DHS)

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Kendall Dacey

[Podcast] Navigating Whistleblower Trends and Risk Mitigation Under a New Administration

On this Ropes & Gray podcast, partners Greg Demers, Amy Kossak, Dan O’Connor, and associate Kendall Dacey provide updates on the SEC’s whistleblower program, False Claims Act enforcement, and recent federal laws supporting… more

Biden Administration, Enforcement Actions, False Claims Act (FCA), Qui Tam, Risk Management

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Andrew Dale

Indian Parliamentary Committee Recommends Enhancements to CSR and ESG Legislation

For US-based multinationals, recent US and European developments have taken up most of the mental energy devoted to global ESG and CSR compliance. Among other compliance topics, these include California climate disclosure, EU… more

Companies Act, Compliance Monitoring, Corporate Governance, Corporate Social Responsibility, Disclosure Requirements

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Thomas Danielski

Capital Markets & Governance Insights - July 2025

In a broad reversal of course on proposed rules issued by the Securities and Exchange Commission (SEC) under the leadership of former SEC Chair Gary Gensler, on June 12, 2025, the SEC issued a notice withdrawing fourteen of the… more

Capital Markets, Corporate Governance, Disclosure Requirements, Enforcement Actions, FinTech

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Sean Darling

Energy Transition: Navigating Europe's Short-Term Volatility and Long-Term Gains

It might appear as though investors are struggling to see how to make the energy transition profitable, but European investor appetite hasn’t waned for the right transaction. Below we consider some topical issues and risk… more

Clean Energy, Energy Policy, Energy Projects, EU, Fund-raising

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Samantha Das

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

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Shanzeh Daudi

Proposed Changes to Medicare Payment Rules: What Life Sciences Companies Need to Know

The Centers for Medicare & Medicaid Services (“CMS”) recently released two proposed updates to Medicare payment rules that, if implemented, could have a significant impact on life sciences companies. The Medicare proposed rules… more

Centers for Medicare & Medicaid Services (CMS), Drug Pricing, Life Sciences, Manufacturers, Medicare

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Gregory Davis

Another Step towards True Retail Access to Private Equity: Secondaries Market Perspective

Many secondaries players began 2025 with the anticipation that the new presidential administration might further liberalize rules around access to private equity markets. SEC Chairman Paul S. Atkins and Division of Investment… more

Investment Funds, Investors, Private Equity, Private Equity Funds, Regulatory Reform

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James Davis

Key Trends in Dual-Eligible Health Insurance: Takeaways from the Medicarians Conference

Attorneys from Ropes & Gray attended the Medicarians Conference from March 31 to April 2, a premier event for Medicare Advantage (MA) and other health insurance brokers, agents, and distribution arms, as well as regional and… more

Artificial Intelligence, Centers for Medicare & Medicaid Services (CMS), Fraud, Health Insurance, Insurance Industry

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James Davis Jr.

USPTO Rescinds Interim Guidance on Discretionary Denials

On February 28, 2025, the U.S. Patent and Trademark Office (“USPTO”) rescinded its June 21, 2022 Memorandum entitled “Interim Procedure for Discretionary Denials in AIA Post-Grant Proceedings with Parallel District Court… more

Appeals, Intellectual Property Litigation, Inter Partes Review (IPR) Proceeding, New Guidance, Patent Invalidity

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Natalie DeAngelo

California’s Office of Health Care Affordability (“OHCA”) Initiates First Cost and Market Impact Review (“CMIR”)

On June 6, 2025, the California Office of Health Care Affordability (“OHCA”) issued its first determination to conduct a Cost and Market Impact Review (“CMIR”) under its health care oversight law. This CMIR will involve review… more

Acquisitions, California, Competition, Competition Authorities, Corporate Governance

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Ariel Deckelbaum

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

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Jessica DeLalio

Insights from the Third Annual Ropes & Gray Rare Disease Forum

Ropes & Gray recently hosted its Third Annual Ropes & Gray Rare Disease Forum on May 1, 2025 in Cambridge, Massachusetts. The event gathered legal, commercial, and patient advocacy experts in the rare disease community to… more

Artificial Intelligence, Clinical Trials, Compliance, Drug Pricing, Enforcement Actions

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Gregory Demers

[Podcast] Navigating Whistleblower Trends and Risk Mitigation Under a New Administration

On this Ropes & Gray podcast, partners Greg Demers, Amy Kossak, Dan O’Connor, and associate Kendall Dacey provide updates on the SEC’s whistleblower program, False Claims Act enforcement, and recent federal laws supporting… more

Biden Administration, Enforcement Actions, False Claims Act (FCA), Qui Tam, Risk Management

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Genieva DePass

DOJ’s New FCPA Playbook: “Time To Get To Work”

On June 9, 2025, the U.S. Department of Justice (“DOJ” or the “Department”) issued the highly anticipated guidelines for investigations and enforcement of the Foreign Corrupt Practices Act (“FCPA”) (“FCPA Guidelines”), thereby… more

Bribery, Corporate Misconduct, Department of Justice (DOJ), Enforcement Actions, Enforcement Priorities

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Cara Dermody

U.S. District Court Ruling Vacates HIPAA Final Rule that Strengthened Privacy Protections for Reproductive Health Information

On June 18, 2025, the United States District Court for the Northern District of Texas Amarillo Division issued an opinion, Purl v. Department of Health and Human Services, declaring the U.S. Department of Health and Human… more

Abortion, Court of Justice of the European Union (CJEU), Data Privacy, Department of Health and Human Services (HHS), Disclosure Requirements

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Zoe Dettelbach

Best Practices for Diligencing Chain-of-Title for Post-AIA Patent Applications with Assignee-Applicants

Patent diligence in the context of M&A and other types of commercial transactions typically involves confirmation of a patent’s chain-of-title ownership, from initial inventors through to the current assignee-owner. The America… more

Acquisitions, America Invents Act, Assignment of Inventions, Assignments, Best Practices

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Katherine Diggins Kearns

CMS Issues Final Rules for Medicare Parts A and B Overpayments: Key and Lingering Questions

In November 2024, the Centers for Medicare & Medicaid Services (“CMS”) released a final rule addressing, among other things, the Medicare Parts A and B overpayment provisions of the Affordable Care Act (the “Final Rule”). It… more

Affordable Care Act, Centers for Medicare & Medicaid Services (CMS), Final Rules, Health Care Providers, Health Insurance

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Michelle DiMartino

[Podcast] Multidimensional Data Reversion: Implementing AI—Balancing Risks and Opportunities

On this bonus episode of Ropes & Gray’s Insights Lab’s Multidimensional Data Reversion podcast series, Shannon Capone Kirk and David Yanofsky are joined by Michelle DiMartino, a cultural psychologist, to discuss the challenges… more

Artificial Intelligence, Corporate Governance, Information Governance, Legal Technology, Machine Learning

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Isabel Dische

Another Step towards True Retail Access to Private Equity: Secondaries Market Perspective

Many secondaries players began 2025 with the anticipation that the new presidential administration might further liberalize rules around access to private equity markets. SEC Chairman Paul S. Atkins and Division of Investment… more

Investment Funds, Investors, Private Equity, Private Equity Funds, Regulatory Reform

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Michael Doherty

Another Step towards True Retail Access to Private Equity: Secondaries Market Perspective

Many secondaries players began 2025 with the anticipation that the new presidential administration might further liberalize rules around access to private equity markets. SEC Chairman Paul S. Atkins and Division of Investment… more

Investment Funds, Investors, Private Equity, Private Equity Funds, Regulatory Reform

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Patrick Dorime

[Podcast] Welcome to the R&G Dugout: Sports Investing—It’s a Whole New Ballgame

Welcome to the R&G Dugout, a new Ropes & Gray podcast series that delves into the dynamic world of sports investing, with a particular focus on the evolving ecosystem of media, entertainment, and private capital ventures. On… more

Business Ownership, Investment, Investors, Private Equity, Private Equity Funds

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David Dowling

What Are the Key Takeaways From Rachel Reeves’ Spending Review and Who Will be the Biggest Winners?

Rachel Reeves, the UK’s Chancellor of the Exchequer, has revealed the Government’s Spending Review 2025 (SR25) setting out departmental budgets until 2029 and capital investment until 2030. The SR25 is in line with the… more

Budgets, Defense Costs, Defense Sector, Economic Growth, Energy Policy

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James R. Drabick

[Podcast] Restoring Integrity: Leadership Strategies in Times of Crisis

On this Ropes & Gray podcast, litigation & enforcement partner Josh Levy and counsel JR Drabick—both former federal prosecutors—delve into the critical topic of crisis management for organizations and leaders. Drawing on Josh’s… more

Business Continuity Plans, Crisis Management, Department of Justice (DOJ), Ethics, Internal Investigations

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Samuel Duncan

2025 Tax Legislation Update: Key Provisions and Implications of the “One Big Beautiful Bill Act”

The “One Big Beautiful Bill Act” (the “BBB”) was signed into law by President Trump on July 4, 2025. The BBB generally extends certain tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) that would have otherwise expired… more

Business Taxes, Estate Tax, Income Taxes, New Legislation, One Big Beautiful Bill Act

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Raphaël Durand

French Tax Administration Issues Draft Comments on Management Package Tax Reform

On July 23, 2025, the French Tax Administration released its initial draft guidance in the BOFiP (Bulletin Officiel des Finances Publiques) (the “Tax Comments”) on the new tax regime for Management Packages introduced by the… more

Capital Gains, Compensation & Benefits, Corporate Taxes, Employee Benefits, Executive Compensation

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Samantha Elliott

US and EU Agree on Trade Framework Agreement – Implications for ESG/CSR Compliance

On August 21, the US and EU announced that they have agreed on a Framework on an Agreement on Reciprocal, Fair, and Balanced Trade. The Framework Agreement expands upon earlier official statements on the US-EU trade deal and is… more

Carbon Emissions, Corporate Counsel, Corporate Social Responsibility, Customs and Border Protection, Due Diligence

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Eve Ellis

UK Financial Services Reform: Strategic Opportunities for Asset Managers

The UK government has unveiled a comprehensive package of reforms aimed at recalibrating the regulatory environment, unlocking productive capital, and reinforcing the country’s status as a global financial hub. For asset… more

Asset Management, Capital Requirements, Digital Assets, Financial Conduct Authority (FCA), Financial Services Industry

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Hannah England

[Podcast] Navigating Non-Competes and Other Exclusivity Provisions in Collaboration & License Agreements and Other Strategic Transactions in Light of EU Competition Laws

On this Ropes & Gray podcast, licensing and collaboration partner Hannah England and antitrust partner Lisa Kaltenbrunner discuss how EU antitrust rules impact non-competes and other exclusivity provisions in collaboration… more

Acquisitions, Anticompetitive Behavior, Antitrust Provisions, Antitrust Violations, Collaboration

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Fran Faircloth

Pixel Litigation Risk at Financial Institutions

An increasingly aggressive plaintiffs’ bar has brought purported class action suits based on the nearly ubiquitous use of tracking technologies used for website analytics. Although any actual harm to the plaintiffs is difficult… more

California Consumer Privacy Act (CCPA), Class Action, Compliance, Consent, Consumer Privacy Rights

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Eileen Falk

FTC’s “Click-to-Cancel” Rule Struck Down by Eighth Circuit

On Tuesday July 8, the United States Court of Appeals for the Eighth Circuit vacated the Federal Trade Commission’s (“FTC”) “Negative Option” Rule, also called the “Click-to-Cancel” Rule, which expanded regulations on recurring… more

Administrative Procedure Act, Advertising, Appeals, Automatic Renewals, Cancellation Rights

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Tara Fisher

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

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Daniel Forman

Capital Markets & Governance Insights - October 2024

SEC Developments - In Twin Actions, SEC Charges Former Kubient CEO for Fraud and Former CFO and Audit Committee Chair for Failing to Investigate and Perpetuating CEO’s Fraud… more

Capital Markets, Corporate Governance, Debt Market, Enforcement Actions, Equity Markets

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Katherine Forrester-Quek

Welcome Relief - CFTC Staff Extends No-Action Relief on Position Aggregation Requirements

The Commodity Futures Trading Commission ("CFTC") Division of Market Oversight ("DMO") has issued relief (see CFTC Letter 21-21) extending the no-action positions previously granted with respect to certain position aggregation… more

Aggregation Rules, CFTC, Compliance, Derivatives, Financial Markets

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Kurt Fowler

FinCEN Delays AML Program Rule for Investment Advisers

On July 21, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) announced that it intends to delay implementation of its final rule, Anti-Money Laundering/Countering the Financing of Terrorism Program… more

AML/CFT, Anti-Money Laundering, Federal Reserve, Final Rules, Financial Crimes

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Thomas Fraser

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

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Bryan T. Frederick

HRSA Announces 340B Rebate Model Pilot Program

On July 31, 2025, the Health Resources and Services Administration (“HRSA”) announced the availability of a voluntary 340B Rebate Model Pilot Program (the “340B Rebate Pilot” or the “Pilot”) that would test, for a limited… more

Covered Entities, Department of Health and Human Services (HHS), Drug Pricing, HRSA, Inflation Reduction Act (IRA)

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Daniel Freshman

House v. NCAA Settlement Approved: Era of Direct Payments to College Athletes Begins

On Friday, June 6, 2025, Judge Claudia Wilken of the U.S. District Court for the Northern District of California approved the landmark settlement in the House v. NCAA class action suit (the “House settlement”). The House… more

Antitrust Litigation, Class Action, Collective Bargaining, College Athletes, Compensation

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Jaclyn Freshman

California’s Office of Health Care Affordability (“OHCA”) Initiates First Cost and Market Impact Review (“CMIR”)

On June 6, 2025, the California Office of Health Care Affordability (“OHCA”) issued its first determination to conduct a Cost and Market Impact Review (“CMIR”) under its health care oversight law. This CMIR will involve review… more

Acquisitions, California, Competition, Competition Authorities, Corporate Governance

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Brett Friedman

California’s Office of Health Care Affordability (“OHCA”) Initiates First Cost and Market Impact Review (“CMIR”)

On June 6, 2025, the California Office of Health Care Affordability (“OHCA”) issued its first determination to conduct a Cost and Market Impact Review (“CMIR”) under its health care oversight law. This CMIR will involve review… more

Acquisitions, California, Competition, Competition Authorities, Corporate Governance

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Emily Fruchterman

HALT Fentanyl Act: Unpacking its Significant Reforms for Controlled Substance Research

On July 16, 2025, President Trump signed the Halt All Lethal Trafficking of Fentanyl (“HALT Fentanyl”) Act into law. The law permanently reclassifies “fentanyl-related substances” into Schedule I of the Controlled Substances Act… more

Clinical Trials, Controlled Substances, Controlled Substances Act, DEA, Government Agencies

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Imogen Galilee

Customer due diligence: HM Treasury outlines next steps on money laundering rules and FCA finalises PEPs guidance

July saw a number of updates regarding the prevention of money laundering in the UK, reflecting the Government’s stated commitment to ensuring that compliance requirements are effective yet not unnecessarily onerous for the… more

Asset Management, Beneficial Owner, Customer Due Diligence (CDD), Financial Conduct Authority (FCA), HM Treasury

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David Geffen

Updated SEC Staff Accounting Bulletin Rescinds SAB 121 Crypto Accounting Guidance

On January 23, 2025, President Trump signed an executive order titled Strengthening American Leadership in Digital Financial Technology (Crypto EO), which addressed a variety of crypto-related topics to the great relief of many… more

Compliance, Cryptoassets, Cryptocurrency, Digital Assets, Disclosure Requirements

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Deborah Gersh

U.S. District Court Ruling Vacates HIPAA Final Rule that Strengthened Privacy Protections for Reproductive Health Information

On June 18, 2025, the United States District Court for the Northern District of Texas Amarillo Division issued an opinion, Purl v. Department of Health and Human Services, declaring the U.S. Department of Health and Human… more

Abortion, Court of Justice of the European Union (CJEU), Data Privacy, Department of Health and Human Services (HHS), Disclosure Requirements

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Gil Ghatan

Congress Passes Final Tax Package: Key Provisions for Tax-Exempt Organizations

On July 3, the House of Representatives approved “The One Big Beautiful Bill Act” as approved two days earlier by the Senate. The final version of the bill contains several provisions relevant to tax-exempt organizations. The… more

Charitable Donations, Charitable Organizations, Colleges, Educational Institutions, Endowment Funds

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Peter Gilchrist

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

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Pamela Glazier

2025 Tax Legislation Update: One Big Beautiful Bill Act Narrowly Passes Senate

The “One Big Beautiful Bill Act” (the “BBB”) was passed by the U.S. House of Representatives on May 22, 2025 (such version, the “House Bill”) as part of the Republican Congress’s reconciliation package. The BBB generally extends… more

Base Erosion and Anti-Abuse Tax (BEAT), Business Losses, Carried Interest, Clean Energy, Coronavirus/COVID-19

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Lindsey Goldstein

[Podcast] R&G Dugout: Show Me the Money—Fund Formation & Management

On this episode of the R&G Dugout podcast, Ropes & Gray asset management partners Amanda Persaud, Lindsey Goldstein, and Jon Rash explore the upsurge of private funds raising capital for investment in sports teams and… more

Asset Management, Capital Raising, Fund Managers, Investment, Investment Funds

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Parv Gondalia

DeepSeek: Legal Considerations for Enterprise Users

DeepSeek, a Chinese artificial intelligence (“AI”) startup, recently made waves across the global AI landscape with the release of its latest open-source R1 model. While some versions of DeepSeek’s model can be downloaded and… more

Artificial Intelligence, China, Cloud Storage, Data Privacy, Data Protection

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María González Calvet

Department of Justice Announces Changes to Corporate Enforcement Policies; More Carrots and Sticks

On May 12, 2025, at SIFMA’s annual Anti-Money Laundering and Financial Crimes Conference, the U.S. Department of Justice’s Criminal Division Chief announced a new White-Collar Enforcement Plan and accompanying changes to three… more

Anti-Corruption, Corporate Crimes, Corporate Misconduct, Department of Justice (DOJ), Enforcement Actions

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Cole Goodman

District Court Strikes Down $40 Million Settlement Agreement in Target Date Funds Case Based on Parallel SEC Settlement

On May 19, 2025, the United States District Court for the Eastern District of Pennsylvania (the “Court”) denied final approval of a $40 million proposed settlement in a major class action lawsuit against The Vanguard Group, Inc… more

Breach of Duty, Class Action, Damages, Fiduciary Duty, Investment

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Zachary Goodwin

[Podcast] New HSR Rules: Impacts to the Pharma Industry

On this Ropes & Gray podcast, strategic transactions partner Hannah England is joined by antitrust partners Jackie Grise and Zak Goodwin to discuss the practical implications of the new Hart–Scott–Rodino (“HSR”) Act rules, which… more

Acquisitions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act, Mergers

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Jennifer Gordon

Making a List and Checking it Twice: Navigating State Privacy and Security Regulations This Year

While there are many significant federal laws and regulations related to cybersecurity, states have led the way in regulating this area on a general, sector-agnostic basis, with the most notable and widely acknowledged state… more

Artificial Intelligence, Breach Notification Rule, Cybersecurity, Data Breach, Data Protection

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Cameron Grabowski

New Year’s Resolutions: What 2025 Holds for AI Regulation

On 30 November 2022, OpenAI made its ChatGPT generative artificial intelligence chatbot publicly available. In the two years since, its unprecedented growth has fostered a dramatic shift in public attention to and interest in… more

Artificial Intelligence, Cybersecurity Framework, European Commission, European Parliament, Machine Learning

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Maureen (Mo) Greason

A Tale of Three Cases: How Fair Use Is Playing Out in AI Copyright Lawsuits

In two recent Northern District of California decisions, AI companies prevailed on a fair use defense after being accused of infringing copyrights in works used to train AI models. The decisions, on their face, seem to contrast… more

Algorithms, Artificial Intelligence, Books, Copyright Infringement, Copyright Litigation

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Jessica Grischkan

Dashing Through Cybersecurity Regulations in the Financial Services Sector in 2024

Throughout 2024, financial sector regulators sharpened their focus on data protection and cybersecurity issues impacting financial institutions and the public. Key federal agencies like the Securities and Exchange Commission… more

Artificial Intelligence, Broker-Dealer, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Customer Information

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Jacqueline Grise

[Podcast] New HSR Rules: Impacts to the Pharma Industry

On this Ropes & Gray podcast, strategic transactions partner Hannah England is joined by antitrust partners Jackie Grise and Zak Goodwin to discuss the practical implications of the new Hart–Scott–Rodino (“HSR”) Act rules, which… more

Acquisitions, Department of Justice (DOJ), Federal Trade Commission (FTC), Hart-Scott-Rodino Act, Mergers

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Helen Gugel

SEC Crypto Roundtables Illuminate Regulatory Path for Digital Assets and Trading Platforms

On April 10, 2025, the SEC’s newly formed Crypto Task Force held the second of its promised series of roundtables in the SEC’s “Spring Sprint Toward Crypto Clarity” initiative. Titled “Between a Block and a Hard Place: Tailoring… more

Blockchain, CFTC, Cryptocurrency, Digital Assets, Howey

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Shona Ha

Finding Alpha in Consumer

As we move through 2025, the phrase “finding alpha” has become the mantra for private equity (PE) investors focused on the consumer sector. Confidence in the sector remains robust, but the narrative has shifted: it is no longer… more

Acquisitions, Artificial Intelligence, Business Strategies, Digital Media, Exit Strategies

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Reagan Haas

Trump DOL Withdraws Biden-Era ESG Rule and Crypto Guidance for ERISA Plans

On May 28, 2025, the U.S. Department of Labor (“DOL”) began to articulate the Trump administration’s retirement policy priorities with its decisions to (i) end its defense of the Biden-era ESG rule in a long-running lawsuit… more

401k, Biden Administration, Cryptocurrency, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA)

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Glen Hai Chen

SEC Crypto Roundtables Illuminate Regulatory Path for Digital Assets and Trading Platforms

On April 10, 2025, the SEC’s newly formed Crypto Task Force held the second of its promised series of roundtables in the SEC’s “Spring Sprint Toward Crypto Clarity” initiative. Titled “Between a Block and a Hard Place: Tailoring… more

Blockchain, CFTC, Cryptocurrency, Digital Assets, Howey

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La'Dericka Hall

Trade Group Sues Agencies Seeking to Invalidate Mental Health Parity and Addiction Equity Act Final Rules

On January 17, 2025, the ERISA Industry Committee (“ERIC”), a national nonprofit trade association representing large employers that provide comprehensive health and retirement benefit programs to their workforces, filed a… more

Administrative Procedure Act, Chevron Deference, Due Process, Employee Retirement Income Security Act (ERISA), Final Rules

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Margaux Hall

HRSA Announces 340B Rebate Model Pilot Program

On July 31, 2025, the Health Resources and Services Administration (“HRSA”) announced the availability of a voluntary 340B Rebate Model Pilot Program (the “340B Rebate Pilot” or the “Pilot”) that would test, for a limited… more

Covered Entities, Department of Health and Human Services (HHS), Drug Pricing, HRSA, Inflation Reduction Act (IRA)

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Douglas Hallward-Driemeier

Supreme Court to Consider Closing a Back Door to Fund Litigation Claims Under the Investment Company Act

On June 30, the U.S. Supreme Court agreed to hear a case that will determine whether Section 47(b) of the Investment Company Act of 1940 (ICA) creates a private right of action for shareholders of registered investment companies… more

Activist Investors, Appeals, Asset Management, Investment Advisers Act of 1940, Investment Company Act of 1940

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Christopher Han

Best Practices for Diligencing Chain-of-Title for Post-AIA Patent Applications with Assignee-Applicants

Patent diligence in the context of M&A and other types of commercial transactions typically involves confirmation of a patent’s chain-of-title ownership, from initial inventors through to the current assignee-owner. The America… more

Acquisitions, America Invents Act, Assignment of Inventions, Assignments, Best Practices

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Erica Han

[Podcast] R&G Dugout: The House v. NCAA Settlement—Tax Implications for Colleges and Universities

On this episode of the R&G Dugout podcast, Ropes & Gray intellectual property transactions partner and a leader of the firm’s sports industry initiative Erica Han is joined by tax attorneys Gil Ghatan, Kendi Ozmon and Franziska… more

Athletes, College Athletes, Colleges, Name and Likeness, NCAA

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Brendan Hanifin

FinCEN Delays AML Program Rule for Investment Advisers

On July 21, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) announced that it intends to delay implementation of its final rule, Anti-Money Laundering/Countering the Financing of Terrorism Program… more

AML/CFT, Anti-Money Laundering, Federal Reserve, Final Rules, Financial Crimes

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David Harris

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

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Aaron Harsh

2025 Tax Legislation Update: Key Provisions and Implications of the “One Big Beautiful Bill Act”

The “One Big Beautiful Bill Act” (the “BBB”) was signed into law by President Trump on July 4, 2025. The BBB generally extends certain tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) that would have otherwise expired… more

Business Taxes, Estate Tax, Income Taxes, New Legislation, One Big Beautiful Bill Act

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Taylor Hart

Five Key Legal Considerations for Investments in Engineering and Design Firms

As the demand for infrastructure assets continues to grow, infrastructure investors are increasingly looking beyond traditional core infrastructure assets and turning their attention to infrastructure services businesses. Among… more

Acquisitions, Construction Industry, Contract Terms, Contractors, Corporate Governance

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Ryan Haynes

FTC Announces Revised HSR Filing Fees, Thresholds, Penalties, and Interlocking Directorate Thresholds for 2025

The Federal Trade Commission (“FTC”) announced the new filing fees, along with the annual adjustment to jurisdictional thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”), as amended. The filing fee… more

Antitrust Provisions, Competition, Enforcement Actions, Federal Trade Commission (FTC), Filing Fees

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Franziska Hertel

Congress Passes Final Tax Package: Key Provisions for Tax-Exempt Organizations

On July 3, the House of Representatives approved “The One Big Beautiful Bill Act” as approved two days earlier by the Senate. The final version of the bill contains several provisions relevant to tax-exempt organizations. The… more

Charitable Donations, Charitable Organizations, Colleges, Educational Institutions, Endowment Funds

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Thomas Hiller

Navigating the Complexities of ETF Share Class Integration: Key Operational Challenges and Industry Insights

One of the most talked about topics in asset management is the possibility of offering Mutual Fund and ETF Classes in the same Fund. For fund sponsors and service providers looking to offer this service, there are significant… more

Asset Management, ETFs, Financial Services Industry, Investment Funds, Investment Management

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Daniel Hinckley

CMS Publishes Federal Fiscal Year 2026 Hospital Payment Proposed Rule

On April 11, 2025, the Centers for Medicare & Medicaid Services (“CMS”) published its annual proposed rule for the federal fiscal year (“FFY”) 2026 inpatient prospective payment system (“IPPS”) and long-term care hospital… more

Centers for Medicare & Medicaid Services (CMS), Healthcare, Healthcare Facilities, Hospitals, Medicaid

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Amy Hinz

2025 Tax Legislation Update: Key Provisions and Implications of the “One Big Beautiful Bill Act”

The “One Big Beautiful Bill Act” (the “BBB”) was signed into law by President Trump on July 4, 2025. The BBB generally extends certain tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) that would have otherwise expired… more

Business Taxes, Estate Tax, Income Taxes, New Legislation, One Big Beautiful Bill Act

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Laura Hoey

DOJ and HHS Announce False Claims Act Working Group & Enforcement Priority Areas

On July 2, 2025, the U.S. Department of Justice (“DOJ”) and the Department of Health and Human Services (“HHS”) announced the formation of the DOJ-HHS False Claims Act Working Group, signaling a continued and coordinated effort… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Department of Justice (DOJ), Drug Pricing, Enforcement Actions

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Thomas Holden

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

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Amanda Holt

IRS Issues Final Regulations Requiring Disclosure of Certain “Basis Shifting” Transactions Involving Partnership Distributions and Transfers of Partnership Interests

The U.S. Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) published final regulations on January 14, 2025 (the “Regulations”) requiring taxpayers and their material advisors to disclose… more

Compliance, Disclosure Requirements, Income Taxes, Internal Revenue Code (IRC), Investment

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Brandon Howald

Five Key Legal Considerations for Investments in Engineering and Design Firms

As the demand for infrastructure assets continues to grow, infrastructure investors are increasingly looking beyond traditional core infrastructure assets and turning their attention to infrastructure services businesses. Among… more

Acquisitions, Construction Industry, Contract Terms, Contractors, Corporate Governance

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Andrew Howard

Impact of Permanent Establishment Reform for Credit Funds

On 28 April, the UK Government produced draft legislation for consultation as the latest step in the reform of UK rules on transfer pricing, permanent establishments and diverted profits tax. From an asset management… more

Asset Management, Credit Funds, Investment Funds, Investment Management, Proposed Legislation

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Charles Hruska

FTC Announces Revised HSR Filing Fees, Thresholds, Penalties, and Interlocking Directorate Thresholds for 2025

The Federal Trade Commission (“FTC”) announced the new filing fees, along with the annual adjustment to jurisdictional thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”), as amended. The filing fee… more

Antitrust Provisions, Competition, Enforcement Actions, Federal Trade Commission (FTC), Filing Fees

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Anna Hunt

HRSA Announces 340B Rebate Model Pilot Program

On July 31, 2025, the Health Resources and Services Administration (“HRSA”) announced the availability of a voluntary 340B Rebate Model Pilot Program (the “340B Rebate Pilot” or the “Pilot”) that would test, for a limited… more

Covered Entities, Department of Health and Human Services (HHS), Drug Pricing, HRSA, Inflation Reduction Act (IRA)

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Joanne Hyun

CMS Proposes Beneficiary Protection and Marketing Updates for Medicare Advantage and Part D Plans in 2026

On November 26, 2024, Centers for Medicare & Medicaid Services (“CMS”) released a proposed rule revising the Medicare Advantage (“MA”) Program (Part C), Medicare Prescription Drug Benefit Program (Part D), Medicare Cost Plan… more

Artificial Intelligence, Beneficiaries, Centers for Medicare & Medicaid Services (CMS), Congressional Review Act, Cost-Sharing

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Sarah Jackmauh

A CSRD Transposition Update – Three Additional Countries Adopt the “Stop the clock” delay

Reporting obligations under the European Union’s Corporate Sustainability Reporting Directive are created under EU member state national legislation adopted pursuant to the CSRD. We have again updated our tracker to reflect the… more

Corporate Governance, Corporate Sustainability Reporting Directive (CSRD), Disclosure Requirements, EFTA, EU

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Evelyn Jackson

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

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Joshua Jackson

Protecting Trade Secrets in FDA Submissions from FOIA Disclosure in the Wake of FDA Layoffs

In the wake of recent mass layoffs at the U.S. Food and Drug Administration (“FDA”), the FDA is likely to have fewer resources to manage its regulatory responsibilities. One area that may be significantly impacted by such… more

Confidential Information, Department of Justice (DOJ), Disclosure Requirements, FOIA, Food and Drug Administration (FDA)

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Amy Jane Longo

AI-Washing Enforcement in the Final Days of the Gensler Administration

As former Securities and Exchange Commission (“SEC”) Chair Gary Gensler’s term came to a close following his resignation announcement in November 2024, the SEC issued another order targeting what has proved to be one of… more

Artificial Intelligence, Disclosure Requirements, Enforcement Actions, Intellectual Property Protection, Machine Learning

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Sharon Jaquez

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

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Deidre Johnson

FTC Announces Revised HSR Filing Fees, Thresholds, Penalties, and Interlocking Directorate Thresholds for 2025

The Federal Trade Commission (“FTC”) announced the new filing fees, along with the annual adjustment to jurisdictional thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”), as amended. The filing fee… more

Antitrust Provisions, Competition, Enforcement Actions, Federal Trade Commission (FTC), Filing Fees

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Georgina Jones Suzuki

“Winning the Race: America’s AI Action Plan” – Key Pillars, Policy Actions, and Future Implications

On July 23, 2025, the White House unveiled its “Winning the Race: America’s AI Action Plan” (the “Plan”), a comprehensive roadmap outlining a series of policy goals and recommended policy actions intended “for near-term… more

Artificial Intelligence, China, Data Centers, Executive Orders, Export Controls

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Lisa Kaltenbrunner

[Podcast] Navigating Non-Competes and Other Exclusivity Provisions in Collaboration & License Agreements and Other Strategic Transactions in Light of EU Competition Laws

On this Ropes & Gray podcast, licensing and collaboration partner Hannah England and antitrust partner Lisa Kaltenbrunner discuss how EU antitrust rules impact non-competes and other exclusivity provisions in collaboration… more

Acquisitions, Anticompetitive Behavior, Antitrust Provisions, Antitrust Violations, Collaboration

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Ava Kamb

FDA Commissioner Makary Promises “Real Time” Release of Complete Response Letters: Can FDA Really Do That?

On July 10, 2025, in the name of embracing “radical transparency,” the U.S. Food and Drug Administration (“FDA”) announced that it was publishing more than 200 complete response letters (“CRLs”) issued in response to drug and… more

Compliance, Disclosure Requirements, Drug Pricing, FDA Approval, Federal Food Drug and Cosmetic Act (FFDCA)

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Kate Kaplan

Pixel Litigation Risk at Financial Institutions

An increasingly aggressive plaintiffs’ bar has brought purported class action suits based on the nearly ubiquitous use of tracking technologies used for website analytics. Although any actual harm to the plaintiffs is difficult… more

California Consumer Privacy Act (CCPA), Class Action, Compliance, Consent, Consumer Privacy Rights

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Emily Karlberg

“Winning the Race: America’s AI Action Plan” – Key Pillars, Policy Actions, and Future Implications

On July 23, 2025, the White House unveiled its “Winning the Race: America’s AI Action Plan” (the “Plan”), a comprehensive roadmap outlining a series of policy goals and recommended policy actions intended “for near-term… more

Artificial Intelligence, China, Data Centers, Executive Orders, Export Controls

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Jeffrey Katz

[Podcast] Mentorship, Growth & Opportunity: Experiences from the 2025 Summer Associate Program

On this special Ropes & Gray podcast, co-hiring partner for the firm and co-managing partner of the firm’s Boston office, Jeff Katz, sits down with three members of the 2025 Summer Associate Program: Ben Haward (Harvard… more

Big Law, Career Development, Client Services, Collaboration, Corporate Culture

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Viktor Kavaleff

Legal Lingo: Liquid or Illiquid? Open or Closed? Navigating Fund Structures

Being an aspiring commercial lawyer often means being confronted by complex, often abstract, concepts leading to an often impenetrable wall of jargon for students and trainees. Next up in our Legal Lingo series, which we've… more

Asset Management, Investment Funds, Investment Management, Private Equity, Private Equity Funds

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Alexandra Kaye

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

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David Kaye

[Podcast] Real World; Real Problems—First Steps in Addressing Real Estate Partnership Disputes

On this Ropes & Gray podcast, real estate investments and transactions partner David Kaye and counsel Pete Scherer are joined by litigation partner Andrew Todres to discuss one of the more taboo topics in real estate investing:… more

Arbitration, Breach of Contract, Dispute Resolution, Fiduciary Duty, Joint Venture

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Brendan Kearney

Unwrapping 2024’s Key Trends in Data Privacy Litigation

Data breaches made headlines throughout 2024, affecting governments, health care groups, and telecoms. Follow-on litigation has kept pace. Nearly 4,000 class actions involving data privacy issues are estimated to be filed in… more

Biometric Information, Corporate Counsel, Cybersecurity, Data Privacy, Data Security

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Catherine Keeling

Australia’s Privacy Reforms: Claus for Concern?

In the six years since the EU’s General Data Protection Regulation (“GDPR”) took effect, governments around the world have updated their data protection laws to reflect the seismic changes in data processing that were created… more

Australia, Automated Decision Systems (ADS), Cybersecurity, Data Privacy, EU

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Kris Kenn

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

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Salah Khaddour

Legal Lingo: What is a Secondaries Transaction?

Being an aspiring commercial lawyer often means being confronted by complex, often abstract, concepts leading to an often impenetrable wall of jargon for students and trainees. Next up in our Legal Lingo series, which we've… more

Acquisitions, Capital Markets, Investment Funds, Investors, Limited Partnerships

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Richard Kidd

[Podcast] California Law for Asset Managers: Navigating Noncompete Statutes & Workplace Violence Prevention Plans

On this episode of Ropes & Gray’s California Law for Asset Managers podcast series, asset management partner Catherine Skulan and employment partners Greg Demers, Richard Kidd and associate Patrick Maher, discuss recent… more

Cal-OSHA, California, Employer Liability Issues, Non-Compete Agreements, State Labor Laws

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Hyun-Joong Kim

South Korea Re-enters the Race for Asia’s First Mandatory Human Rights Due Diligence Law

On June 13, Representative Jung Tae-ho re-introduced the “Legislative Bill for the Act on the Protection of Human Rights and the Environment for Sustainable Business Management,” also known as the Corporate Human Rights and… more

Board of Directors, Business Entities, Corporate Counsel, Corporate Governance, Corporate Social Responsibility

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Sabrina Kim

Imitation Game: Legal Considerations with Dupes-Based Business Models

Lower-cost products that are inspired by luxury or well-known branded products —often called “dupes”—have been a fixture in the consumer marketplace for decades. From store-brand pain relievers sold in similar packaging next to… more

Acquisitions, Brand, Comparative Advertising, Copyright, Copyright Infringement

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Paul Kinsella

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

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David Kirchner

DOL Sheds Light on the Fiduciary Responsibilities That Arise with Pooled Employer Plans PEPs

On July 28, 2025, the U.S. Department of Labor (“DOL”) issued some new interpretive guidance as part of a request for information (“RFI”) about pooled employer plans (“PEPs”) and an employer’s fiduciary responsibilities that… more

401k, Department of Labor (DOL), Employee Benefits, Employer Responsibilities, Fiduciary Duty

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Katerina Kirimli

How to Grow AUM in a Challenging Fundraising Market

Necessity, they say, is the mother of invention, and the private markets industry has certainly responded to a period of intense fundraising turbulence with creativity and ingenuity. Capital raised for traditional co-mingled… more

Alternative Investment Fund Managers Directive (AIFMD), Asset Management, Capital Markets, Fund Managers, Investment Funds

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Jonathan Klarfeld

FTC’s “Click-to-Cancel” Rule Struck Down by Eighth Circuit

On Tuesday July 8, the United States Court of Appeals for the Eighth Circuit vacated the Federal Trade Commission’s (“FTC”) “Negative Option” Rule, also called the “Click-to-Cancel” Rule, which expanded regulations on recurring… more

Administrative Procedure Act, Advertising, Appeals, Automatic Renewals, Cancellation Rights

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Leonard Klingbaum

Special Situations Credit: 2024 Year In Review and 2025 Outlook

As expected, we experienced continued strong deal flow for special situations credit transactions in 2024, with both macroeconomic and industry-specific factors broadly impacting markets. While a slight lowering of interest… more

Acquisitions, Asset Management, Capital Markets, Debt, Financing

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Alyssa Kollmeyer

IRS Issues Final Regulations Requiring Disclosure of Certain “Basis Shifting” Transactions Involving Partnership Distributions and Transfers of Partnership Interests

The U.S. Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) published final regulations on January 14, 2025 (the “Regulations”) requiring taxpayers and their material advisors to disclose… more

Compliance, Disclosure Requirements, Income Taxes, Internal Revenue Code (IRC), Investment

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Todd Kornreich

Infrastructure investing in 2025: Takeaways from Infralogic’s Investors Forum

What’s ahead for the infrastructure market? Ropes & Gray lawyers gained insights from attending the Infralogic Investors Forum in New York, held on April 25. We heard from experts in the global infrastructure and energy… more

Asset Management, Data Centers, Debt Financing, Energy Sector, Infrastructure

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Amy Kossak

DOJ and HHS Announce False Claims Act Working Group & Enforcement Priority Areas

On July 2, 2025, the U.S. Department of Justice (“DOJ”) and the Department of Health and Human Services (“HHS”) announced the formation of the DOJ-HHS False Claims Act Working Group, signaling a continued and coordinated effort… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Department of Justice (DOJ), Drug Pricing, Enforcement Actions

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Zachary Kramer

Life Sciences Under the Microscope: Key 2024 Takeaways and What’s Ahead for 2025

The life sciences industry experienced a dynamic year in 2024. As the public markets gained traction, IPO activity and venture investment saw a resurgence, signaling renewed investor confidence and reflecting sustained interest… more

Acquisitions, Biotechnology, Investment, Investors, Life Sciences

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Julie Kvedar

Ruling of the Grand Chamber of the EU Court of Justice in Organic Food Labelling: International Trade-Related Implications

Since the early 1960s, countries representing over 99 per cent of the world’s population have agreed upon international technical standards relating to food production, labelling, and safety, called the Codex Alimentarus. The… more

EU, Food Labeling, International Trade, Regulatory Requirements, Trade Agreements

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Christopher D. Labosky

Preparing for ETFs as a Share Class: Updated and Expanded as of June 11, 2025

Introduction - On March 17, 2025, Ropes & Gray published a white paper describing the much-anticipated Share Class Relief 1 and outlining matters we believed Advisers and Boards may want to consider in connection with their… more

Board of Directors, ETFs, Exchange-Traded Products, Financial Markets, Financial Services Industry

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Sarah Lambert-Porter

UK Authorities Revamp Joint Corporate Prosecution Guidance

On 18 August 2025, the UK’s Crown Prosecution Service (CPS) and the Serious Fraud Office (SFO) announced the updated version of the joint guidance in relation to the prosecution of corporate entities (the “Guidance”). The… more

Bribery, Corporate Counsel, Corporate Crimes, Criminal Prosecution, Enforcement Guidance

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Michael Lampert

[Podcast] Patient Assistance Programs: Enforcement Trends and Regulatory Challenges

On this Ropes & Gray podcast, health care partner Michael Lampert and counsel Sam Perrone, and litigation & enforcement partner Andrew O’Connor, rejoin to discuss patient assistance programs, recent enforcement actions, and… more

Anti-Kickback Statute, Civil Monetary Penalty, Enforcement Actions, False Claims Act (FCA), OIG

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Stephanie Lapidus

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

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Austin Laroche

Stem Cell Litigation Update: FDA Won the Latest Battle, but the Future of HCT/P Enforcement Remains Unclear

On September 27, 2024, the U.S. Court of Appeals for the Ninth Circuit reversed the district court’s decision in U.S. v. California Stem Cell Treatment Center, Inc. (“California Stem Cell”), holding that a clinic’s stem cell… more

Chevron Deference, Federal Food Drug and Cosmetic Act (FFDCA), Federal Trade Commission (FTC), Food and Drug Administration (FDA), Health Clinics

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Natalie LaRue

[Podcast] Health Care Transaction Laws Unwrapped: Deal Impacts for Private Equity Firms, MSOs & DSOs

On this episode of Ropes & Gray’s Health Care Transaction Laws Unwrapped podcast series, health care attorneys Christina Bergeron, Devin Cohen and Natalie LaRue discuss recent developments in state health care transaction laws… more

Health Care Providers, Healthcare Facilities, Hospital Mergers, Investors, Physicians

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Patrick Lavery

[Podcast] Talkin’ Trade: Section 337 Domestic Industry Shake-Up—Exploring the Lashify Decision

On this episode of Ropes & Gray's ITC-focused podcast series, Talkin' Trade, IP litigators Matt Rizzolo, Matt Shapiro, and Patrick Lavery discuss a groundbreaking Federal Circuit decision in Lashify v. ITC. This pivotal ruling… more

Domestic Industry Requirement, Enforcement, Imports, Intellectual Property Litigation, Intellectual Property Protection

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Minh-Chau Le

Applicability of the Trump Administration’s Reciprocal Tariff Executive Order on Software and Digital Exports

On April 2, 2025, President Trump issued an executive order (Executive Order 142571) to implement “reciprocal tariffs” on United States trading partners (the “EO”). Although the Trump administration subsequently paused the… more

Digital Assets, Executive Orders, Exports, Imports, International Trade

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Michael Lee

The Current State of Energy and Infrastructure in the US: Key Takeaways from Proximo Congress 2025

Ropes & Gray attended Proximo Congress 2025 in Nashville last week, where leading dealmakers and advisors convened to discuss the future of energy and digital infrastructure in the US against a backdrop of immense policy… more

Capital Markets, Clean Energy, Energy Policy, Energy Projects, Energy Sector

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Megan Lenz

Customs Fraud May Bring a New Wave of False Claims Act Cases

On February 1, 2025, President Trump imposed 25% tariffs on most imports from Canada and Mexico, as well as 10% tariffs on Canadian energy products and imports from China. The primary immediate impact of the new tariffs will be… more

China, Compliance, Customs, Department of Justice (DOJ), Duties

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Ariel Leung

UK Introduces New Russia Sanctions

On April 23, 2025, the UK Government published the Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (the “Amending Regulations”), which took effect on April 24, 2025. The Amending Regulations amend the Russia… more

Economic Sanctions, Enforcement Actions, Export Controls, New Legislation, Oil & Gas

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Gregory Levine

FDA Commissioner Makary Promises “Real Time” Release of Complete Response Letters: Can FDA Really Do That?

On July 10, 2025, in the name of embracing “radical transparency,” the U.S. Food and Drug Administration (“FDA”) announced that it was publishing more than 200 complete response letters (“CRLs”) issued in response to drug and… more

Compliance, Disclosure Requirements, Drug Pricing, FDA Approval, Federal Food Drug and Cosmetic Act (FFDCA)

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Joshua S. Levy

[Podcast] Restoring Integrity: Leadership Strategies in Times of Crisis

On this Ropes & Gray podcast, litigation & enforcement partner Josh Levy and counsel JR Drabick—both former federal prosecutors—delve into the critical topic of crisis management for organizations and leaders. Drawing on Josh’s… more

Business Continuity Plans, Crisis Management, Department of Justice (DOJ), Ethics, Internal Investigations

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Jeremy Liabo

Welcome Relief - CFTC Staff Extends No-Action Relief on Position Aggregation Requirements

The Commodity Futures Trading Commission ("CFTC") Division of Market Oversight ("DMO") has issued relief (see CFTC Letter 21-21) extending the no-action positions previously granted with respect to certain position aggregation… more

Aggregation Rules, CFTC, Compliance, Derivatives, Financial Markets

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Joshua Lichtenstein

Planning to Take Advantage of Executive Order on Alternatives in 401(k)s: Five Key Takeaways and Five Action Items for Managers

On August 7, 2025, President Trump issued a long-rumored executive order (the “Order”) that calls for expanded access to private equity and other alternative investments for 401(k) plans and their participants. The Order arrives… more

401k, Defined Contribution Plans, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Executive Orders

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Aaron Lichter

2025 Tax Legislation Update: Key Provisions and Implications of the “One Big Beautiful Bill Act”

The “One Big Beautiful Bill Act” (the “BBB”) was signed into law by President Trump on July 4, 2025. The BBB generally extends certain tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) that would have otherwise expired… more

Business Taxes, Estate Tax, Income Taxes, New Legislation, One Big Beautiful Bill Act

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Geoffrey Lin

The Illumina Ban and What It Means for Life Science Companies

Amid increasing economic tensions with the United States, China recently announced that it would ban Illumina, a U.S.-based company and the world’s leading producer of gene-sequencing machines, from importing its gene sequencers… more

China, Economic Sanctions, Export Controls, Intellectual Property Protection, International Trade

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Michael Littenberg

US-based Multinationals (and Others) Get More Time Before Singapore Climate Reporting Requirements Kick In

Over the last few years, we have kept our US multinational company readers current on the progress and timing of Singapore corporate climate reporting. Singapore’s climate reporting requirements capture many larger US-based… more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Greenhouse Gas Emissions, International Sustainability Standards Board (ISSB)

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Chune Loong Lum

US-based Multinationals (and Others) Get More Time Before Singapore Climate Reporting Requirements Kick In

Over the last few years, we have kept our US multinational company readers current on the progress and timing of Singapore corporate climate reporting. Singapore’s climate reporting requirements capture many larger US-based… more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Greenhouse Gas Emissions, International Sustainability Standards Board (ISSB)

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Debra Lussier

Takeaways from SuperReturn 2025: Navigating Private Market Fundraising with Purpose and Innovation

The 2025 SuperReturn conference in Berlin last week once again solidified its position as a cornerstone event for the global private markets community, offering a vital platform for insights, networking, and a palpable sense of… more

Asset Management, Credit, Financial Markets, Industry Consolidation, Investment

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Carolyn Lye

Biden Administration Finalizes Its Last Changes To Health Data Interoperability and Information Blocking Regulations

In December 2024, the Assistant Secretary for Technology Policy/Office of the National Coordinator for Health Information Technology (“ASTP/ONC”) within the U.S. Department of Health and Human Services (“HHS”) published two… more

Biden Administration, Compliance, Data Privacy, Data Protection, Department of Health and Human Services (HHS)

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Patricia Lynch

ABS East 2024: Key Takeaways

Overview: Notable Developments in Esoteric ABS - The amount of private cash available to invest and the issuer demand for liquidity are driving a continued increase in issuance volume in the market for esoteric ABS,… more

Asset-Backed Securities, Critical Infrastructure Sectors, Investment, Securities Regulation, Securitization

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Emily Ma

European restructuring in 2025: four trends shaping the legal landscape

At the GRR: Women in Restructuring 2025 conference, leading practitioners dissected the year’s most significant developments in global insolvency and restructuring. Here, we distill the essential legal and market insights… more

Corporate Restructuring, Cross-Border Transactions, Debt Restructuring, EU, European Commission

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Edward Machin

When Tax Meets Automation: Lessons From HMRC's Use (Or Not) Of Artificial Intelligence

As businesses and individuals in the UK continue to explore the possibilities offered by artificial intelligence, it should come as no surprise that the Government has also embraced AI. Increasing productivity in the civil… more

Artificial Intelligence, Data Privacy, Disclosure Requirements, FOIA, HMRC

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Keith MacLeod

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

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Patrick Maher

[Podcast] California Law for Asset Managers: Navigating Noncompete Statutes & Workplace Violence Prevention Plans

On this episode of Ropes & Gray’s California Law for Asset Managers podcast series, asset management partner Catherine Skulan and employment partners Greg Demers, Richard Kidd and associate Patrick Maher, discuss recent… more

Cal-OSHA, California, Employer Liability Issues, Non-Compete Agreements, State Labor Laws

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Rayne Mahfood

David Sacks’ Press Conference on Digital Assets; Newly Proposed Stablecoin Legislation; Reshuffle at the SEC

On February 4, 2025, David Sacks, informally referred to as the “Crypto Czar,” held a press conference to outline the administration’s policy direction for blockchain technology and digital assets. Sacks emphasized the… more

Blockchain, CFTC, Cryptocurrency, Digital Assets, Financial Regulatory Reform

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Dorota Maj

UK and EU Money Laundering Risk Assessments 2025: Key Findings for Asset Managers

In July 2025 HM Treasury and the Home Office issued the UK National Risk Assessment of Money Laundering and Terrorist Financing 2025 ('NRA 2025'), while the European Banking Authority (EBA) published its fifth Opinion on ML/TF… more

AML/CFT, Anti-Money Laundering, Asset Management, Beneficial Owner, Cryptoassets

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Craig Marcus

Capital Markets & Governance Insights - July 2025

In a broad reversal of course on proposed rules issued by the Securities and Exchange Commission (SEC) under the leadership of former SEC Chair Gary Gensler, on June 12, 2025, the SEC issued a notice withdrawing fourteen of the… more

Capital Markets, Corporate Governance, Disclosure Requirements, Enforcement Actions, FinTech

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Jessica Marlin

[Podcast] Fully Invested: Exchange Act Registered Private Funds (’34 Act)

On this episode of Fully Invested, Ropes & Gray asset management partner Jessica Marlin and capital markets counsel Marc Rotter discuss ’34 Act Registered Private Funds. These funds register under the Securities Exchange Act of… more

Asset Management, Disclosure Requirements, Investment Company Act of 1940, Investment Funds, Private Equity Funds

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Leah Marszalek

Insights from the Third Annual Ropes & Gray Rare Disease Forum

Ropes & Gray recently hosted its Third Annual Ropes & Gray Rare Disease Forum on May 1, 2025 in Cambridge, Massachusetts. The event gathered legal, commercial, and patient advocacy experts in the rare disease community to… more

Artificial Intelligence, Clinical Trials, Compliance, Drug Pricing, Enforcement Actions

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Rohan Massey

New Regulations Strengthen Privacy for UK Company Directors: Expanded Rights to Protect Personal Information from Companies House Publication

For many individuals, holding board level positions in UK entities comes with the fear of their names, dates of birth and residential addresses being published by Companies House. This has led to instances of identity theft,… more

Board of Directors, Corporate Governance, Data Privacy, New Regulations, Personal Information

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Noah P. Mathews

SEC Speaks 2025: Key Takeaways from Division of Enforcement Panels

The SEC’s Division of Enforcement intends to remain a “cop on the beat,” and will refocus on traditional core enforcement areas, such as insider trading, accounting and disclosure fraud, market manipulation, and breaches of… more

Cryptocurrency, Cybersecurity, Emerging Technologies, Enforcement Actions, Enforcement Priorities

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Brian McCabe

Navigating the Complexities of ETF Share Class Integration: Key Operational Challenges and Industry Insights

One of the most talked about topics in asset management is the possibility of offering Mutual Fund and ETF Classes in the same Fund. For fund sponsors and service providers looking to offer this service, there are significant… more

Asset Management, ETFs, Financial Services Industry, Investment Funds, Investment Management

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Ryan McCaffrey

FTC Announces Revised HSR Filing Fees, Thresholds, Penalties, and Interlocking Directorate Thresholds for 2025

The Federal Trade Commission (“FTC”) announced the new filing fees, along with the annual adjustment to jurisdictional thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”), as amended. The filing fee… more

Antitrust Provisions, Competition, Enforcement Actions, Federal Trade Commission (FTC), Filing Fees

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Timothy McCrystal

Key Takeaways Related to Oregon’s New CPOM Law

On June 9, 2025, Governor Kotek signed Senate Bill 951, An Act Relating to the Practice of Health Care (“SB 951”), into law. This law strengthens Oregon’s existing Corporate Practice of Medicine (“CPOM”) restrictions by limiting… more

Breach of Contract, Contract Terms, Corporate Practice of Medicine, Health Care Providers, Investors

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James McGinnis

Updated SEC Staff Accounting Bulletin Rescinds SAB 121 Crypto Accounting Guidance

On January 23, 2025, President Trump signed an executive order titled Strengthening American Leadership in Digital Financial Technology (Crypto EO), which addressed a variety of crypto-related topics to the great relief of many… more

Compliance, Cryptoassets, Cryptocurrency, Digital Assets, Disclosure Requirements

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Michael McGrath

Effect of Changes to Title IV of the Higher Education Act in the One Big Beautiful Bill

The “One Big Beautiful Bill Act” (the “Act”), which recently became law, makes significant changes to federal financial aid programs administered under Title IV of the Higher Education Act of 1965 (“HEA”). These changes impact… more

Department of Education, Education Reform, Educational Institutions, Federal Funding, Federal Student Loans

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David McIntosh

“Winning the Race: America’s AI Action Plan” – Key Pillars, Policy Actions, and Future Implications

On July 23, 2025, the White House unveiled its “Winning the Race: America’s AI Action Plan” (the “Plan”), a comprehensive roadmap outlining a series of policy goals and recommended policy actions intended “for near-term… more

Artificial Intelligence, China, Data Centers, Executive Orders, Export Controls

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Edward McNicholas

Pixel Litigation Risk at Financial Institutions

An increasingly aggressive plaintiffs’ bar has brought purported class action suits based on the nearly ubiquitous use of tracking technologies used for website analytics. Although any actual harm to the plaintiffs is difficult… more

California Consumer Privacy Act (CCPA), Class Action, Compliance, Consent, Consumer Privacy Rights

See all updates »

Natalia Mercado Violand

DOJ’s New FCPA Playbook: “Time To Get To Work”

On June 9, 2025, the U.S. Department of Justice (“DOJ” or the “Department”) issued the highly anticipated guidelines for investigations and enforcement of the Foreign Corrupt Practices Act (“FCPA”) (“FCPA Guidelines”), thereby… more

Bribery, Corporate Misconduct, Department of Justice (DOJ), Enforcement Actions, Enforcement Priorities

See all updates »

Colleen Meyer

[Podcast] Navigating the SEC's New Marketing Rule FAQ Guidance

On this Ropes & Gray podcast, Alyssa Horton and Colleen Meyer, both counsel in the private funds regulatory group, explore the recent SEC staff guidance on the Marketing Rule. They discuss the new FAQs issued on March 19, 2025,… more

Disclosure Requirements, Investment Advisers Act of 1940, Investment Funds, Investment Management, Marketing

See all updates »

William Michener

Capital Markets & Governance Insights - July 2025

In a broad reversal of course on proposed rules issued by the Securities and Exchange Commission (SEC) under the leadership of former SEC Chair Gary Gensler, on June 12, 2025, the SEC issued a notice withdrawing fourteen of the… more

Capital Markets, Corporate Governance, Disclosure Requirements, Enforcement Actions, FinTech

See all updates »

Marc Migliazzo

[Podcast] A Word for Our Sponsors: GP-Led Secondary Perceptions Report with Campbell Lutyens

On this episode of Ropes & Gray’s podcast series A Word for Our Sponsors, Deb Lussier, partner and co-leader of the sponsor solutions practice, and Marc Migliazzo, counsel in the sponsor solutions practice, are joined by Darren… more

Capital Markets, Investment Funds, Investment Management, Investors, Private Equity

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Andrea Millard

Closeout Requirements During Appeals of Terminations of NIH Research Grants

On July 7, 2025, the National Institutes of Health (NIH) Office of Policy for Extramural Research issued NOT-OD-25-128, titled “Guidance on Enforcement of Closeout Requirements During the Appeals Process” (the Notice). The… more

Appeals, Compliance, Department of Health and Human Services (HHS), Enforcement, Federal Funding

See all updates »

Jasper Millard

Petrofac Restructuring Plans Overturned: When Considering Restructuring Surplus’ Allocation, Sharing is Caring

In a much-anticipated judgment (Saipem SPA & Ors v Petrofac Limited & Anor [2025] EWCA Civ 821), the English Court of Appeal overturned the High Court’s sanction of Petrofac’s restructuring plans (the Plans). Petrofac was only… more

Appeals, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Corporate Restructuring

See all updates »

Emmanuel Mimin

French Tax Administration Issues Draft Comments on Management Package Tax Reform

On July 23, 2025, the French Tax Administration released its initial draft guidance in the BOFiP (Bulletin Officiel des Finances Publiques) (the “Tax Comments”) on the new tax regime for Management Packages introduced by the… more

Capital Gains, Compensation & Benefits, Corporate Taxes, Employee Benefits, Executive Compensation

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Arthur Mok

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

Christine Moundas

[Podcast] Women @ RopesTalk: Conversation with Katy Motiey, Extreme Networks

On this episode of Women @ RopesTalk hosted by health care and data partner Christine Moundas, IP transactions and licensing partner Megan Baca is joined by Katy Motiey, the chief legal, administrative and sustainability officer… more

Corporate Culture, Corporate Governance, Corporate Social Responsibility, Diversity and Inclusion Standards (D&I), Leadership

See all updates »

Elaine Murphy

2025 Tax Legislation Update: Key Provisions and Implications of the “One Big Beautiful Bill Act”

The “One Big Beautiful Bill Act” (the “BBB”) was signed into law by President Trump on July 4, 2025. The BBB generally extends certain tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) that would have otherwise expired… more

Business Taxes, Estate Tax, Income Taxes, New Legislation, One Big Beautiful Bill Act

See all updates »

Kelley Murphy

US and EU Agree on Trade Framework Agreement – Implications for ESG/CSR Compliance

On August 21, the US and EU announced that they have agreed on a Framework on an Agreement on Reciprocal, Fair, and Balanced Trade. The Framework Agreement expands upon earlier official statements on the US-EU trade deal and is… more

Carbon Emissions, Corporate Counsel, Corporate Social Responsibility, Customs and Border Protection, Due Diligence

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Samer Musallam

[Podcast] Antitrust Insights: New HSR Rules Now in Effect

On this episode of Ropes & Gray’s Antitrust Insights podcast series, seasoned antitrust partners and former FTC and DOJ prosecutors Jonathan Klarfeld and Samer Musallam discuss significant changes—and their substantial impact on… more

Acquisitions, Antitrust Provisions, Competition, Department of Justice (DOJ), Disclosure Requirements

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Manish Namireddy

The Illumina Ban and What It Means for Life Science Companies

Amid increasing economic tensions with the United States, China recently announced that it would ban Illumina, a U.S.-based company and the world’s leading producer of gene-sequencing machines, from importing its gene sequencers… more

China, Economic Sanctions, Export Controls, Intellectual Property Protection, International Trade

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Kevin Nordin

UK Introduces New Russia Sanctions

On April 23, 2025, the UK Government published the Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (the “Amending Regulations”), which took effect on April 24, 2025. The Amending Regulations amend the Russia… more

Economic Sanctions, Enforcement Actions, Export Controls, New Legislation, Oil & Gas

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Rachel O'Brien

Takeaways from SuperReturn 2025: Navigating Private Market Fundraising with Purpose and Innovation

The 2025 SuperReturn conference in Berlin last week once again solidified its position as a cornerstone event for the global private markets community, offering a vital platform for insights, networking, and a palpable sense of… more

Asset Management, Credit, Financial Markets, Industry Consolidation, Investment

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Andrew O'Connor

[Podcast] Patient Assistance Programs: Enforcement Trends and Regulatory Challenges

On this Ropes & Gray podcast, health care partner Michael Lampert and counsel Sam Perrone, and litigation & enforcement partner Andrew O’Connor, rejoin to discuss patient assistance programs, recent enforcement actions, and… more

Anti-Kickback Statute, Civil Monetary Penalty, Enforcement Actions, False Claims Act (FCA), OIG

See all updates »

R. Daniel O'Connor

District Court Strikes Down $40 Million Settlement Agreement in Target Date Funds Case Based on Parallel SEC Settlement

On May 19, 2025, the United States District Court for the Eastern District of Pennsylvania (the “Court”) denied final approval of a $40 million proposed settlement in a major class action lawsuit against The Vanguard Group, Inc… more

Breach of Duty, Class Action, Damages, Fiduciary Duty, Investment

See all updates »

Chimso Okoji

SEC Speaks 2025: Key Takeaways from Division of Enforcement Panels

The SEC’s Division of Enforcement intends to remain a “cop on the beat,” and will refocus on traditional core enforcement areas, such as insider trading, accounting and disclosure fraud, market manipulation, and breaches of… more

Cryptocurrency, Cybersecurity, Emerging Technologies, Enforcement Actions, Enforcement Priorities

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Emily Oldshue

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

Dima Orendarets

Evolving Dynamics and Optimism; Our Forecasts for the Real Estate Market in 2025 for Private Capital

In 2025, the real estate market for private capital will evolve considerably, driven by economic shifts, regulatory pressures, and advancements in technology. As a maturing debt landscape, rising demand for sustainable assets,… more

Artificial Intelligence, Asset Management, Commercial Real Estate Market, Financing, Interest Rates

See all updates »

Jaime Orloff Feeney

DOJ and HHS Announce False Claims Act Working Group & Enforcement Priority Areas

On July 2, 2025, the U.S. Department of Justice (“DOJ”) and the Department of Health and Human Services (“HHS”) announced the formation of the DOJ-HHS False Claims Act Working Group, signaling a continued and coordinated effort… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Department of Justice (DOJ), Drug Pricing, Enforcement Actions

See all updates »

Joshua Oyster

HALT Fentanyl Act: Unpacking its Significant Reforms for Controlled Substance Research

On July 16, 2025, President Trump signed the Halt All Lethal Trafficking of Fentanyl (“HALT Fentanyl”) Act into law. The law permanently reclassifies “fentanyl-related substances” into Schedule I of the Controlled Substances Act… more

Clinical Trials, Controlled Substances, Controlled Substances Act, DEA, Government Agencies

See all updates »

Kendi Ozmon

Congress Passes Final Tax Package: Key Provisions for Tax-Exempt Organizations

On July 3, the House of Representatives approved “The One Big Beautiful Bill Act” as approved two days earlier by the Senate. The final version of the bill contains several provisions relevant to tax-exempt organizations. The… more

Charitable Donations, Charitable Organizations, Colleges, Educational Institutions, Endowment Funds

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Gannon Palmiter

District Court Strikes Down $40 Million Settlement Agreement in Target Date Funds Case Based on Parallel SEC Settlement

On May 19, 2025, the United States District Court for the Eastern District of Pennsylvania (the “Court”) denied final approval of a $40 million proposed settlement in a major class action lawsuit against The Vanguard Group, Inc… more

Breach of Duty, Class Action, Damages, Fiduciary Duty, Investment

See all updates »

Georgia Papathanasiou

Petrofac Restructuring Plans Overturned: When Considering Restructuring Surplus’ Allocation, Sharing is Caring

In a much-anticipated judgment (Saipem SPA & Ors v Petrofac Limited & Anor [2025] EWCA Civ 821), the English Court of Appeal overturned the High Court’s sanction of Petrofac’s restructuring plans (the Plans). Petrofac was only… more

Appeals, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Corporate Restructuring

See all updates »

Chong Park

FTC’s “Click-to-Cancel” Rule Struck Down by Eighth Circuit

On Tuesday July 8, the United States Court of Appeals for the Eighth Circuit vacated the Federal Trade Commission’s (“FTC”) “Negative Option” Rule, also called the “Click-to-Cancel” Rule, which expanded regulations on recurring… more

Administrative Procedure Act, Advertising, Appeals, Automatic Renewals, Cancellation Rights

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Mirae Park

2025 Tax Legislation Update: Key Provisions and Implications of the “One Big Beautiful Bill Act”

The “One Big Beautiful Bill Act” (the “BBB”) was signed into law by President Trump on July 4, 2025. The BBB generally extends certain tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) that would have otherwise expired… more

Business Taxes, Estate Tax, Income Taxes, New Legislation, One Big Beautiful Bill Act

See all updates »

Joseph Patchitt

Evolving Dynamics and Optimism; Our Forecasts for the Real Estate Market in 2025 for Private Capital

In 2025, the real estate market for private capital will evolve considerably, driven by economic shifts, regulatory pressures, and advancements in technology. As a maturing debt landscape, rising demand for sustainable assets,… more

Artificial Intelligence, Asset Management, Commercial Real Estate Market, Financing, Interest Rates

See all updates »

Milap Patel

Special Situations Credit: 2024 Year In Review and 2025 Outlook

As expected, we experienced continued strong deal flow for special situations credit transactions in 2024, with both macroeconomic and industry-specific factors broadly impacting markets. While a slight lowering of interest… more

Acquisitions, Asset Management, Capital Markets, Debt, Financing

See all updates »

Chetan A. Patil

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

David Peloquin

HALT Fentanyl Act: Unpacking its Significant Reforms for Controlled Substance Research

On July 16, 2025, President Trump signed the Halt All Lethal Trafficking of Fentanyl (“HALT Fentanyl”) Act into law. The law permanently reclassifies “fentanyl-related substances” into Schedule I of the Controlled Substances Act… more

Clinical Trials, Controlled Substances, Controlled Substances Act, DEA, Government Agencies

See all updates »

Samuel Perrone

[Podcast] Patient Assistance Programs: Enforcement Trends and Regulatory Challenges

On this Ropes & Gray podcast, health care partner Michael Lampert and counsel Sam Perrone, and litigation & enforcement partner Andrew O’Connor, rejoin to discuss patient assistance programs, recent enforcement actions, and… more

Anti-Kickback Statute, Civil Monetary Penalty, Enforcement Actions, False Claims Act (FCA), OIG

See all updates »

Amanda Persaud

[Podcast] R&G Dugout: Show Me the Money—Fund Formation & Management

On this episode of the R&G Dugout podcast, Ropes & Gray asset management partners Amanda Persaud, Lindsey Goldstein, and Jon Rash explore the upsurge of private funds raising capital for investment in sports teams and… more

Asset Management, Capital Raising, Fund Managers, Investment, Investment Funds

See all updates »

Rachel Phillips

Capital Markets & Governance Insights - July 2025

In a broad reversal of course on proposed rules issued by the Securities and Exchange Commission (SEC) under the leadership of former SEC Chair Gary Gensler, on June 12, 2025, the SEC issued a notice withdrawing fourteen of the… more

Capital Markets, Corporate Governance, Disclosure Requirements, Enforcement Actions, FinTech

See all updates »

Paulita Pike

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

See all updates »

Christopher Poggi

ABS East 2024: Key Takeaways

Overview: Notable Developments in Esoteric ABS - The amount of private cash available to invest and the issuer demand for liquidity are driving a continued increase in issuance volume in the market for esoteric ABS,… more

Asset-Backed Securities, Critical Infrastructure Sectors, Investment, Securities Regulation, Securitization

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Alyssa Pratt

2025 Tax Legislation Update: Key Provisions and Implications of the “One Big Beautiful Bill Act”

The “One Big Beautiful Bill Act” (the “BBB”) was signed into law by President Trump on July 4, 2025. The BBB generally extends certain tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) that would have otherwise expired… more

Business Taxes, Estate Tax, Income Taxes, New Legislation, One Big Beautiful Bill Act

See all updates »

Ryan Preston Dahl

Special Situations Credit: 2024 Year In Review and 2025 Outlook

As expected, we experienced continued strong deal flow for special situations credit transactions in 2024, with both macroeconomic and industry-specific factors broadly impacting markets. While a slight lowering of interest… more

Acquisitions, Asset Management, Capital Markets, Debt, Financing

See all updates »

Patrick Prin

Special Situations Credit: 2024 Year In Review and 2025 Outlook

As expected, we experienced continued strong deal flow for special situations credit transactions in 2024, with both macroeconomic and industry-specific factors broadly impacting markets. While a slight lowering of interest… more

Acquisitions, Asset Management, Capital Markets, Debt, Financing

See all updates »

Michael Purcell

Regulation of Laboratory Developed Tests in APAC

Laboratory Developed Tests (LDTs) are critical for diagnosing rare diseases and addressing unmet clinical needs. They are developed, manufactured, and used within a single licensed clinical laboratory for purposes of clinical… more

Asia Pacific, Australia, Centers for Medicare & Medicaid Services (CMS), China, CLIA

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Amanda Raad

[Podcast] Culture & Compliance Chronicles: Beyond Bad Apples—How Context Shapes Corporate Misconduct with Professor Guido Palazzo

On this episode of Culture & Compliance Chronicles, Amanda Raad and Nitish Upadhyaya from Ropes & Gray’s Insights Lab, and Richard Bistrong of Front-Line Anti-Bribery are joined by Professor Guido Palazzo, co-author of The Dark… more

Anti-Corruption, Compliance, Compliance Management Systems, Compliance Monitoring, Corporate Culture

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Joseph Rafferty

FTC Announces Revised HSR Filing Fees, Thresholds, Penalties, and Interlocking Directorate Thresholds for 2025

The Federal Trade Commission (“FTC”) announced the new filing fees, along with the annual adjustment to jurisdictional thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”), as amended. The filing fee… more

Antitrust Provisions, Competition, Enforcement Actions, Federal Trade Commission (FTC), Filing Fees

See all updates »

Azim Rahman

UK and EU Money Laundering Risk Assessments 2025: Key Findings for Asset Managers

In July 2025 HM Treasury and the Home Office issued the UK National Risk Assessment of Money Laundering and Terrorist Financing 2025 ('NRA 2025'), while the European Banking Authority (EBA) published its fifth Opinion on ML/TF… more

AML/CFT, Anti-Money Laundering, Asset Management, Beneficial Owner, Cryptoassets

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Faiza Rahman

Capital Markets & Governance Insights - July 2025

In a broad reversal of course on proposed rules issued by the Securities and Exchange Commission (SEC) under the leadership of former SEC Chair Gary Gensler, on June 12, 2025, the SEC issued a notice withdrawing fourteen of the… more

Capital Markets, Corporate Governance, Disclosure Requirements, Enforcement Actions, FinTech

See all updates »

George Raine

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

See all updates »

Natalie Raine

Petrofac Restructuring Plans Overturned: When Considering Restructuring Surplus’ Allocation, Sharing is Caring

In a much-anticipated judgment (Saipem SPA & Ors v Petrofac Limited & Anor [2025] EWCA Civ 821), the English Court of Appeal overturned the High Court’s sanction of Petrofac’s restructuring plans (the Plans). Petrofac was only… more

Appeals, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Corporate Restructuring

See all updates »

Jonathan Rash

[Podcast] R&G Dugout: Show Me the Money—Fund Formation & Management

On this episode of the R&G Dugout podcast, Ropes & Gray asset management partners Amanda Persaud, Lindsey Goldstein, and Jon Rash explore the upsurge of private funds raising capital for investment in sports teams and… more

Asset Management, Capital Raising, Fund Managers, Investment, Investment Funds

See all updates »

Christina Ravelo

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Jessica Reece

Preparing for ETFs as a Share Class: Updated and Expanded as of June 11, 2025

Introduction - On March 17, 2025, Ropes & Gray published a white paper describing the much-anticipated Share Class Relief 1 and outlining matters we believed Advisers and Boards may want to consider in connection with their… more

Board of Directors, ETFs, Exchange-Traded Products, Financial Markets, Financial Services Industry

See all updates »

Jonathan Reinstein

Planning to Take Advantage of Executive Order on Alternatives in 401(k)s: Five Key Takeaways and Five Action Items for Managers

On August 7, 2025, President Trump issued a long-rumored executive order (the “Order”) that calls for expanded access to private equity and other alternative investments for 401(k) plans and their participants. The Order arrives… more

401k, Defined Contribution Plans, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Executive Orders

See all updates »

Sharon Remmer

Planning to Take Advantage of Executive Order on Alternatives in 401(k)s: Five Key Takeaways and Five Action Items for Managers

On August 7, 2025, President Trump issued a long-rumored executive order (the “Order”) that calls for expanded access to private equity and other alternative investments for 401(k) plans and their participants. The Order arrives… more

401k, Defined Contribution Plans, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA), Executive Orders

See all updates »

Elizabeth Reza

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

See all updates »

James Harold Richards

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Matthew Rizzolo

[Podcast] Talkin’ Trade: Unpacking Recent ITC Trade Secret Misappropriation Case Law

On this episode of Ropes & Gray's ITC-focused podcast series, Talkin' Trade, IP litigators Matt Rizzolo, Matt Shapiro, and Lara Ameri break down the ITC’s recent decision in Investigation No. 337-TA-1352, a case involving trade… more

Discovery, Domestic Industry Requirement, Enforcement Actions, International Trade, International Trade Commission (ITC)

See all updates »

Colleen Roberts

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Ryan Rohlfsen

DOJ’s New FCPA Playbook: “Time To Get To Work”

On June 9, 2025, the U.S. Department of Justice (“DOJ” or the “Department”) issued the highly anticipated guidelines for investigations and enforcement of the Foreign Corrupt Practices Act (“FCPA”) (“FCPA Guidelines”), thereby… more

Bribery, Corporate Misconduct, Department of Justice (DOJ), Enforcement Actions, Enforcement Priorities

See all updates »

Jennifer Romig

California’s Office of Health Care Affordability (“OHCA”) Initiates First Cost and Market Impact Review (“CMIR”)

On June 6, 2025, the California Office of Health Care Affordability (“OHCA”) issued its first determination to conduct a Cost and Market Impact Review (“CMIR”) under its health care oversight law. This CMIR will involve review… more

Acquisitions, California, Competition, Competition Authorities, Corporate Governance

See all updates »

Christine Rosenblatt

State ESG Update and Analysis for Asset Managers and Financial Institutions

As we discussed in our white paper “ESG and Public Pension Investing in 2023: A Year-to-Date Recap and Analysis”, there was a surge in legislative activity in 2023 among red states curtailing the use of environmental, social and… more

Asset Management, BlackRock, Boycotts, Chevron Deference, Corporate Social Responsibility

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Sam Ross

Expected Changes to IP Policy under the Second Trump Administration

Intellectual property (“IP”) policy does not weigh heavily on most voters’ minds, and so is not often addressed in presidential campaigns. This past campaign was no different – President-elect Donald Trump did not expressly… more

Antitrust Division, Artificial Intelligence, Bayh-Dole Act, CFTC, Corporate Counsel

See all updates »

Marc Rotter

US-based Multinationals (and Others) Get More Time Before Singapore Climate Reporting Requirements Kick In

Over the last few years, we have kept our US multinational company readers current on the progress and timing of Singapore corporate climate reporting. Singapore’s climate reporting requirements capture many larger US-based… more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Greenhouse Gas Emissions, International Sustainability Standards Board (ISSB)

See all updates »

Amy Roy

District Court Strikes Down $40 Million Settlement Agreement in Target Date Funds Case Based on Parallel SEC Settlement

On May 19, 2025, the United States District Court for the Eastern District of Pennsylvania (the “Court”) denied final approval of a $40 million proposed settlement in a major class action lawsuit against The Vanguard Group, Inc… more

Breach of Duty, Class Action, Damages, Fiduciary Duty, Investment

See all updates »

Marc Rubenstein

Capital Markets & Governance Insights - October 2024

SEC Developments - In Twin Actions, SEC Charges Former Kubient CEO for Fraud and Former CFO and Audit Committee Chair for Failing to Investigate and Perpetuating CEO’s Fraud… more

Capital Markets, Corporate Governance, Debt Market, Enforcement Actions, Equity Markets

See all updates »

Rita Rubin

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

See all updates »

Lauren Sager

FDA Commissioner Makary Promises “Real Time” Release of Complete Response Letters: Can FDA Really Do That?

On July 10, 2025, in the name of embracing “radical transparency,” the U.S. Food and Drug Administration (“FDA”) announced that it was publishing more than 200 complete response letters (“CRLs”) issued in response to drug and… more

Compliance, Disclosure Requirements, Drug Pricing, FDA Approval, Federal Food Drug and Cosmetic Act (FFDCA)

See all updates »

David Saltzman

2025 Tax Legislation Update: Key Provisions and Implications of the “One Big Beautiful Bill Act”

The “One Big Beautiful Bill Act” (the “BBB”) was signed into law by President Trump on July 4, 2025. The BBB generally extends certain tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) that would have otherwise expired… more

Business Taxes, Estate Tax, Income Taxes, New Legislation, One Big Beautiful Bill Act

See all updates »

Regina Sam Penti

AI and Tech under the One Big Beautiful Bill Act: Key Restrictions, Risks, and Opportunities

On July 4, 2025, President Trump signed “The One Big Beautiful Bill Act” into law. While much attention has focused on the bill’s rejection of a proposed 10-year federal ban on state and local artificial intelligence (“AI”)… more

Artificial Intelligence, Audits, Compliance, Corporate Counsel, Documentation

See all updates »

Yam Schaal

A Tale of Three Cases: How Fair Use Is Playing Out in AI Copyright Lawsuits

In two recent Northern District of California decisions, AI companies prevailed on a fair use defense after being accused of infringing copyrights in works used to train AI models. The decisions, on their face, seem to contrast… more

Algorithms, Artificial Intelligence, Books, Copyright Infringement, Copyright Litigation

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Peter Scherer

[Podcast] Real World; Real Problems—First Steps in Addressing Real Estate Partnership Disputes

On this Ropes & Gray podcast, real estate investments and transactions partner David Kaye and counsel Pete Scherer are joined by litigation partner Andrew Todres to discuss one of the more taboo topics in real estate investing:… more

Arbitration, Breach of Contract, Dispute Resolution, Fiduciary Duty, Joint Venture

See all updates »

Adam Schlichtmann

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

See all updates »

Robert Schmidt

Another Step towards True Retail Access to Private Equity: Secondaries Market Perspective

Many secondaries players began 2025 with the anticipation that the new presidential administration might further liberalize rules around access to private equity markets. SEC Chairman Paul S. Atkins and Division of Investment… more

Investment Funds, Investors, Private Equity, Private Equity Funds, Regulatory Reform

See all updates »

Stefan Schropp

Third Circuit Coinbase Decision Pressures SEC on Crypto Rulemaking

On Monday, the U.S. Court of Appeals for the Third Circuit issued the attached opinion requiring the SEC to provide a more complete explanation for its refusal to engage in formal notice-and-comment rulemaking regarding the… more

Administrative Procedure Act, Appeals, Constitutional Challenges, Cryptocurrency, Digital Assets

See all updates »

Stephen Sencer

Closeout Requirements During Appeals of Terminations of NIH Research Grants

On July 7, 2025, the National Institutes of Health (NIH) Office of Policy for Extramural Research issued NOT-OD-25-128, titled “Guidance on Enforcement of Closeout Requirements During the Appeals Process” (the Notice). The… more

Appeals, Compliance, Department of Health and Human Services (HHS), Enforcement, Federal Funding

See all updates »

David Seymour

Evolving Dynamics and Optimism; Our Forecasts for the Real Estate Market in 2025 for Private Capital

In 2025, the real estate market for private capital will evolve considerably, driven by economic shifts, regulatory pressures, and advancements in technology. As a maturing debt landscape, rising demand for sustainable assets,… more

Artificial Intelligence, Asset Management, Commercial Real Estate Market, Financing, Interest Rates

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Amish Shah

[Webinar] Post-Election Analysis: Implications for the Private Equity and Asset Management Industry - November 13th, 12:30 pm - 1:30 pm ET

Our panel will examine the recent election results and their potential impact on the private equity and asset management sectors. The discussion will cover regulatory changes, market trends, and strategic considerations for… more

Asset Management, Business Strategies, Election Results, Private Equity, Private Equity Firms

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Matthew Shapiro

[Podcast] Talkin’ Trade: Unpacking Recent ITC Trade Secret Misappropriation Case Law

On this episode of Ropes & Gray's ITC-focused podcast series, Talkin' Trade, IP litigators Matt Rizzolo, Matt Shapiro, and Lara Ameri break down the ITC’s recent decision in Investigation No. 337-TA-1352, a case involving trade… more

Discovery, Domestic Industry Requirement, Enforcement Actions, International Trade, International Trade Commission (ITC)

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William Shefelman

Medicare Advantage Fraud and Abuse: A Bipartisan Enforcement Priority

Early signs from the initial months of the Trump administration indicate that fraud and abuse enforcement related to the Medicare Advantage program (“MA”) remains a bipartisan focus, as evidenced by the recent statements from… more

Centers for Medicare & Medicaid Services (CMS), Department of Justice (DOJ), Enforcement Actions, False Claims Act (FCA), Healthcare Fraud

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Tiantian Shi

“Winning the Race: America’s AI Action Plan” – Key Pillars, Policy Actions, and Future Implications

On July 23, 2025, the White House unveiled its “Winning the Race: America’s AI Action Plan” (the “Plan”), a comprehensive roadmap outlining a series of policy goals and recommended policy actions intended “for near-term… more

Artificial Intelligence, China, Data Centers, Executive Orders, Export Controls

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Michael Shulman

IRS Issues Final Regulations Requiring Disclosure of Certain “Basis Shifting” Transactions Involving Partnership Distributions and Transfers of Partnership Interests

The U.S. Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) published final regulations on January 14, 2025 (the “Regulations”) requiring taxpayers and their material advisors to disclose… more

Compliance, Disclosure Requirements, Income Taxes, Internal Revenue Code (IRC), Investment

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Tegan Shyne

UK Financial Services Reform: Strategic Opportunities for Asset Managers

The UK government has unveiled a comprehensive package of reforms aimed at recalibrating the regulatory environment, unlocking productive capital, and reinforcing the country’s status as a global financial hub. For asset… more

Asset Management, Capital Requirements, Digital Assets, Financial Conduct Authority (FCA), Financial Services Industry

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Emerson Siegle

Applicability of the Trump Administration’s Reciprocal Tariff Executive Order on Software and Digital Exports

On April 2, 2025, President Trump issued an executive order (Executive Order 142571) to implement “reciprocal tariffs” on United States trading partners (the “EO”). Although the Trump administration subsequently paused the… more

Digital Assets, Executive Orders, Exports, Imports, International Trade

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Robert Skinner

Supreme Court to Consider Closing a Back Door to Fund Litigation Claims Under the Investment Company Act

On June 30, the U.S. Supreme Court agreed to hear a case that will determine whether Section 47(b) of the Investment Company Act of 1940 (ICA) creates a private right of action for shareholders of registered investment companies… more

Activist Investors, Appeals, Asset Management, Investment Advisers Act of 1940, Investment Company Act of 1940

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Catherine Skulan

[Podcast] California Law for Asset Managers: Navigating Noncompete Statutes & Workplace Violence Prevention Plans

On this episode of Ropes & Gray’s California Law for Asset Managers podcast series, asset management partner Catherine Skulan and employment partners Greg Demers, Richard Kidd and associate Patrick Maher, discuss recent… more

Cal-OSHA, California, Employer Liability Issues, Non-Compete Agreements, State Labor Laws

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Devon Smith

State ESG Update and Analysis for Asset Managers and Financial Institutions

As we discussed in our white paper “ESG and Public Pension Investing in 2023: A Year-to-Date Recap and Analysis”, there was a surge in legislative activity in 2023 among red states curtailing the use of environmental, social and… more

Asset Management, BlackRock, Boycotts, Chevron Deference, Corporate Social Responsibility

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Jeremy Smith

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

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Denise Sohn

2025 Tax Legislation Update: Key Provisions and Implications of the “One Big Beautiful Bill Act”

The “One Big Beautiful Bill Act” (the “BBB”) was signed into law by President Trump on July 4, 2025. The BBB generally extends certain tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) that would have otherwise expired… more

Business Taxes, Estate Tax, Income Taxes, New Legislation, One Big Beautiful Bill Act

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Isaac Sommers

AI-Washing Enforcement in the Final Days of the Gensler Administration

As former Securities and Exchange Commission (“SEC”) Chair Gary Gensler’s term came to a close following his resignation announcement in November 2024, the SEC issued another order targeting what has proved to be one of… more

Artificial Intelligence, Disclosure Requirements, Enforcement Actions, Intellectual Property Protection, Machine Learning

See all updates »

John Sorkin

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

Nathalia Sosa

DOJ Is Not Taking Its Foot Off the Gas in Health Care Fraud Enforcement: What DOJ’s New White-Collar Enforcement Plan Means for Health Care and Life Sciences Companies

On May 12, 2025, the Head of the US Department of Justice’s Criminal Division, Matthew R. Galeotti (“Galeotti”), announced DOJ’s first ever White-Collar Enforcement Plan (the “Plan”), which directs prosecutors to: (1) focus on… more

Department of Justice (DOJ), Enforcement Actions, False Claims Act (FCA), Healthcare Fraud, Life Sciences

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Suni Sreepada

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

Pascale Stain

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Robert Stenzel

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Hayley Stokes

Glow Up or Sell Out? Opportunities and Risks in the Consumer Health and Beauty Sector

The global M&A market is forever evolving, and nowhere is this truer than in beauty, which has recently seen a notable surge in growth and popularity. McKinsey forecasts global beauty sales to grow six percent annually until… more

Acquisitions, Cosmetics, Cyber Attacks, Cybersecurity, Digital Health

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David Sullivan

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

See all updates »

Marina Sultonova

UK Authorities Revamp Joint Corporate Prosecution Guidance

On 18 August 2025, the UK’s Crown Prosecution Service (CPS) and the Serious Fraud Office (SFO) announced the updated version of the joint guidance in relation to the prosecution of corporate entities (the “Guidance”). The… more

Bribery, Corporate Counsel, Corporate Crimes, Criminal Prosecution, Enforcement Guidance

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Courtney Sy

Considerations When Contracting with Academic Spinouts

Due in part to the Bayh-Dole Act of 1980, which incentivized universities to commercialize their technology, the number of academic spinouts has grown in recent years. This is particularly true in the life sciences space, where… more

Bayh-Dole Act, Contract Terms, Due Diligence, Intellectual Property Protection, IP License

See all updates »

Samuel Tansley

What’s Ahead for Solar and Wind in 2025: Insights from Infocast Summit

What role will solar, wind and storage technologies play in addressing the pending “energy emergency” in the United States, and how is the industry responding to heightened policy uncertainty stemming from the new federal… more

Data Centers, Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment

See all updates »

Nicole Tetzlaff

Effect of Changes to Title IV of the Higher Education Act in the One Big Beautiful Bill

The “One Big Beautiful Bill Act” (the “Act”), which recently became law, makes significant changes to federal financial aid programs administered under Title IV of the Higher Education Act of 1965 (“HEA”). These changes impact… more

Department of Education, Education Reform, Educational Institutions, Federal Funding, Federal Student Loans

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James Thomas

2025 ICI Investment Management Conference

The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there has… more

Financial Markets, Financial Services Industry, Investment Advisers Act of 1940, Investment Management, Investors

See all updates »

Tyler Thomas

New York State Publishes Proposed Facility- and Industry-Specific Greenhouse Gas Emissions Reporting Requirements

At the end of March, the New York State Department of Environmental Conservation (DEC) released draft regulations for a proposed Mandatory Greenhouse Gas Reporting Program. If adopted, the regulations would require annual… more

Comment Period, Disclosure Requirements, Energy Sector, Enforcement, Greenhouse Gas Emissions

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Aysha Thompson

False Claims Act Insights: Key Takeaways from DOJ’s Fiscal Year 2024 Cases & Recoveries

The U.S. Department of Justice (DOJ) announced last Wednesday that settlements and judgments under the False Claims Act (FCA) exceeded $2.9 billion in fiscal year 2024—up approximately 5% from last year. DOJ’s announcement… more

Coronavirus/COVID-19, Cybersecurity, Defense Contracts, Department of Defense (DOD), Department of Justice (DOJ)

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Leslie Thornton

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Elizabeth Todd

Finding Alpha in Consumer

As we move through 2025, the phrase “finding alpha” has become the mantra for private equity (PE) investors focused on the consumer sector. Confidence in the sector remains robust, but the narrative has shifted: it is no longer… more

Acquisitions, Artificial Intelligence, Business Strategies, Digital Media, Exit Strategies

See all updates »

Andrew Todres

[Podcast] Real World; Real Problems—First Steps in Addressing Real Estate Partnership Disputes

On this Ropes & Gray podcast, real estate investments and transactions partner David Kaye and counsel Pete Scherer are joined by litigation partner Andrew Todres to discuss one of the more taboo topics in real estate investing:… more

Arbitration, Breach of Contract, Dispute Resolution, Fiduciary Duty, Joint Venture

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Maggie Toms

Law Reviews, Dictionaries, and Uptiers: The Fifth Circuit Weighs In on Serta

Market participants might be wary of opinions that begin with a recitation of academic literature and then turn to dictionaries. The former tend to be authored with an eye toward systemic change rather than direct experience… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Credit Agreements

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Chris Townsend

Negotiating Economics: What are the Different Advantages of Co-Investment for GPs and LPs?

GPs are increasingly exploring formalised co-investment structures in a bid to secure management fees and carried interest. Co-investment activity has increased fivefold over the past two decades, hitting a record $33.2 billion… more

Co-Investment Rights, Compliance, Fees, Financial Markets, General Partnerships

See all updates »

Kaija Townsend

Massachusetts Passes Act Implementing Broad Oversight into For-Profit Investment in Health Care

On January 8, 2025, Massachusetts Governor Maura Healey signed House Bill 5159, An Act Enhancing the Market Review Process (the “Act”) into law, effective April 8, 2025. The Act is a compromise redraft of the separate health… more

Compliance, Enforcement, False Claims Act (FCA), For-Profit Corporations, Health Care Providers

See all updates »

Paul Tropp

Capital Markets & Governance Insights - July 2025

In a broad reversal of course on proposed rules issued by the Securities and Exchange Commission (SEC) under the leadership of former SEC Chair Gary Gensler, on June 12, 2025, the SEC issued a notice withdrawing fourteen of the… more

Capital Markets, Corporate Governance, Disclosure Requirements, Enforcement Actions, FinTech

See all updates »

Lincoln Tsang

Ruling of the Grand Chamber of the EU Court of Justice in Organic Food Labelling: International Trade-Related Implications

Since the early 1960s, countries representing over 99 per cent of the world’s population have agreed upon international technical standards relating to food production, labelling, and safety, called the Codex Alimentarus. The… more

EU, Food Labeling, International Trade, Regulatory Requirements, Trade Agreements

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Nitish Upadhyaya

[Podcast] Culture & Compliance Chronicles: Beyond Bad Apples—How Context Shapes Corporate Misconduct with Professor Guido Palazzo

On this episode of Culture & Compliance Chronicles, Amanda Raad and Nitish Upadhyaya from Ropes & Gray’s Insights Lab, and Richard Bistrong of Front-Line Anti-Bribery are joined by Professor Guido Palazzo, co-author of The Dark… more

Anti-Corruption, Compliance, Compliance Management Systems, Compliance Monitoring, Corporate Culture

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Nathaniel Valeri

FTC Announces Revised HSR Filing Fees, Thresholds, Penalties, and Interlocking Directorate Thresholds for 2025

The Federal Trade Commission (“FTC”) announced the new filing fees, along with the annual adjustment to jurisdictional thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”), as amended. The filing fee… more

Antitrust Provisions, Competition, Enforcement Actions, Federal Trade Commission (FTC), Filing Fees

See all updates »

Paul Van Houten

[Webinar] Post-Election Analysis: Implications for the Private Equity and Asset Management Industry - November 13th, 12:30 pm - 1:30 pm ET

Our panel will examine the recent election results and their potential impact on the private equity and asset management sectors. The discussion will cover regulatory changes, market trends, and strategic considerations for… more

Asset Management, Business Strategies, Election Results, Private Equity, Private Equity Firms

See all updates »

Tristan VanDeventer

Capital Markets & Governance Insights - July 2025

In a broad reversal of course on proposed rules issued by the Securities and Exchange Commission (SEC) under the leadership of former SEC Chair Gary Gensler, on June 12, 2025, the SEC issued a notice withdrawing fourteen of the… more

Capital Markets, Corporate Governance, Disclosure Requirements, Enforcement Actions, FinTech

See all updates »

Valerio Vitelli

Negotiating Economics: What are the Different Advantages of Co-Investment for GPs and LPs?

GPs are increasingly exploring formalised co-investment structures in a bid to secure management fees and carried interest. Co-investment activity has increased fivefold over the past two decades, hitting a record $33.2 billion… more

Co-Investment Rights, Compliance, Fees, Financial Markets, General Partnerships

See all updates »

Caroline Vorce

Petrofac Restructuring Plans Overturned: When Considering Restructuring Surplus’ Allocation, Sharing is Caring

In a much-anticipated judgment (Saipem SPA & Ors v Petrofac Limited & Anor [2025] EWCA Civ 821), the English Court of Appeal overturned the High Court’s sanction of Petrofac’s restructuring plans (the Plans). Petrofac was only… more

Appeals, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Corporate Restructuring

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Alexa Voskerichian

Trump DOL Withdraws Biden-Era ESG Rule and Crypto Guidance for ERISA Plans

On May 28, 2025, the U.S. Department of Labor (“DOL”) began to articulate the Trump administration’s retirement policy priorities with its decisions to (i) end its defense of the Biden-era ESG rule in a long-running lawsuit… more

401k, Biden Administration, Cryptocurrency, Department of Labor (DOL), Employee Retirement Income Security Act (ERISA)

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Sarah Walters

[Podcast] Women @ RopesTalk: Conversation with Veronica Lei, Eli Lilly

On this episode of Women @ RopesTalk hosted by health care and data partner Christine Moundas, litigation & enforcement partner Sarah Walters is joined by Veronica Lei, the associate vice president and assistant general counsel… more

Career Development, Leadership, Marketing Perspectives, Professional Development, Professional Networking

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Atiyah Wang

A Flurry of Healthcare Sector Cybersecurity Regulatory Developments in 2024

2024 was a record year for cyberattacks in the healthcare sector. According to the Breach Portal maintained by the U.S. Department of Health and Human Services (“HHS”) Office of Civil Rights (“OCR”), to date this year, there… more

Audits, Centers for Medicare & Medicaid Services (CMS), Cyber Attacks, Cyber Crimes, Cyber Incident Reporting

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Katherine Wang

2025 Medtech Regulatory Affairs Roundtable: Key Takeaways

On May 22, Ropes & Gray and McKinsey & Company co-hosted the 12th Medtech Regulatory Affairs Roundtable online. Around 40 Regulatory Affairs leaders from Chinese and multinational medtech companies gathered to review and discuss… more

China, Medical Devices, Regulatory Oversight, Regulatory Reform, Regulatory Requirements

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Lauren Watts

Department of Justice Announces Changes to Corporate Enforcement Policies; More Carrots and Sticks

On May 12, 2025, at SIFMA’s annual Anti-Money Laundering and Financial Crimes Conference, the U.S. Department of Justice’s Criminal Division Chief announced a new White-Collar Enforcement Plan and accompanying changes to three… more

Anti-Corruption, Corporate Crimes, Corporate Misconduct, Department of Justice (DOJ), Enforcement Actions

See all updates »

Stephanie Webster

Hospital and Health Systems Reimbursement Check July 2025

In the early days of the second Trump Administration, several federal funding agencies announced caps to indirect cost (“IDC”) rates for federally funded research awards. In many cases, these caps would substantially reduce… more

Administrative Procedure Act, Centers for Medicare & Medicaid Services (CMS), Compliance, Department of Health and Human Services (HHS), Department of Justice (DOJ)

See all updates »

Gregg Weiner

District Court Strikes Down $40 Million Settlement Agreement in Target Date Funds Case Based on Parallel SEC Settlement

On May 19, 2025, the United States District Court for the Eastern District of Pennsylvania (the “Court”) denied final approval of a $40 million proposed settlement in a major class action lawsuit against The Vanguard Group, Inc… more

Breach of Duty, Class Action, Damages, Fiduciary Duty, Investment

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Beth Weinman

FDA Commissioner Makary Promises “Real Time” Release of Complete Response Letters: Can FDA Really Do That?

On July 10, 2025, in the name of embracing “radical transparency,” the U.S. Food and Drug Administration (“FDA”) announced that it was publishing more than 200 complete response letters (“CRLs”) issued in response to drug and… more

Compliance, Disclosure Requirements, Drug Pricing, FDA Approval, Federal Food Drug and Cosmetic Act (FFDCA)

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Matthieu Wharmby

ABS East 2024: Key Takeaways

Overview: Notable Developments in Esoteric ABS - The amount of private cash available to invest and the issuer demand for liquidity are driving a continued increase in issuance volume in the market for esoteric ABS,… more

Asset-Backed Securities, Critical Infrastructure Sectors, Investment, Securities Regulation, Securitization

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Tatum Wheeler

House v. NCAA Settlement Approved: Era of Direct Payments to College Athletes Begins

On Friday, June 6, 2025, Judge Claudia Wilken of the U.S. District Court for the Northern District of California approved the landmark settlement in the House v. NCAA class action suit (the “House settlement”). The House… more

Antitrust Litigation, Class Action, Collective Bargaining, College Athletes, Compensation

See all updates »

Jeremiah Williams

AI-Washing Enforcement in the Final Days of the Gensler Administration

As former Securities and Exchange Commission (“SEC”) Chair Gary Gensler’s term came to a close following his resignation announcement in November 2024, the SEC issued another order targeting what has proved to be one of… more

Artificial Intelligence, Disclosure Requirements, Enforcement Actions, Intellectual Property Protection, Machine Learning

See all updates »

Jane Willis

[Podcast] Health Care Transaction Laws Unwrapped: Recent Antitrust Developments

Join us for the final episode of our Health Care Transaction Laws Unwrapped podcast series, where Ropes & Gray antitrust partner Jane Willis and counsel David Young explore the intersection of health care transaction laws and… more

Antitrust Provisions, Competition, Department of Justice (DOJ), Federal Trade Commission (FTC), Health Care Providers

See all updates »

Benjamin Wilson

Massachusetts Passes Act Implementing Broad Oversight into For-Profit Investment in Health Care

On January 8, 2025, Massachusetts Governor Maura Healey signed House Bill 5159, An Act Enhancing the Market Review Process (the “Act”) into law, effective April 8, 2025. The Act is a compromise redraft of the separate health… more

Compliance, Enforcement, False Claims Act (FCA), For-Profit Corporations, Health Care Providers

See all updates »

Peter Witschi

US-based Multinationals (and Others) Get More Time Before Singapore Climate Reporting Requirements Kick In

Over the last few years, we have kept our US multinational company readers current on the progress and timing of Singapore corporate climate reporting. Singapore’s climate reporting requirements capture many larger US-based… more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Greenhouse Gas Emissions, International Sustainability Standards Board (ISSB)

See all updates »

Benjamin Wonnacott

When Tax Meets Automation: Lessons From HMRC's Use (Or Not) Of Artificial Intelligence

As businesses and individuals in the UK continue to explore the possibilities offered by artificial intelligence, it should come as no surprise that the Government has also embraced AI. Increasing productivity in the civil… more

Artificial Intelligence, Data Privacy, Disclosure Requirements, FOIA, HMRC

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Eric Wu

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

May Yang

Deck the Halls with Cyber Walls: Navigating National Security in the Digital Age

Cybersecurity and national security collided in significant ways in 2024, with governments and private-sector entities grappling with the legal, technical, and policy challenges of a rapidly evolving cyber landscape. Offensive… more

Article II, CFIUS, Cyber Crimes, Cybersecurity, Cybersecurity Information Sharing Act (CISA)

See all updates »

David Yanofsky

[Podcast] Multidimensional Data Reversion: From Search Terms to GenAI—How We Got Here and What We Learned Along The Way

On this episode of Ropes & Gray’s Insights Lab’s multi-part Multidimensional Data Reversion podcast series, Shannon Capone Kirk and David Yanofsky discuss how artificial intelligence and machine learning are being applied to… more

Artificial Intelligence, Document Review, e-Discovery, Internal Investigations, Legal Technology

See all updates »

David Young

[Podcast] Health Care Transaction Laws Unwrapped: Recent Antitrust Developments

Join us for the final episode of our Health Care Transaction Laws Unwrapped podcast series, where Ropes & Gray antitrust partner Jane Willis and counsel David Young explore the intersection of health care transaction laws and… more

Antitrust Provisions, Competition, Department of Justice (DOJ), Federal Trade Commission (FTC), Health Care Providers

See all updates »

Sarah Young

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

Carissa Yuk

Considering the Use of AI in Legal Investigations

In today's rapidly evolving legal landscape, the integration of Artificial Intelligence (AI) into investigation and document review processes is transforming the way legal professionals operate. AI technologies promise… more

Artificial Intelligence, Bias, Document Review, e-Discovery, Investigations

See all updates »

Marko Zatylny

Dealmaker's Digest: A Top 10 Bulletin - August 2025

In Dealmaker’s Digest, read the top 10 latest developments in global transactions. We offer insights into M&A activity across industries and borders. U.S. outbound deal value jumped to over $80 billion in July; the highest… more

Acquisitions, Cross-Border Transactions, Earn-Outs, Foreign Investment, Global Dealmaking

See all updates »

Anna Zhang

Considerations When Contracting with Academic Spinouts

Due in part to the Bayh-Dole Act of 1980, which incentivized universities to commercialize their technology, the number of academic spinouts has grown in recent years. This is particularly true in the life sciences space, where… more

Bayh-Dole Act, Contract Terms, Due Diligence, Intellectual Property Protection, IP License

See all updates »

Jianing Zhang

White House Issues Guidance on Use and Procurement of Artificial Intelligence Technology

On April 3, 2025, the White House Office of Management and Budget (“OMB”) issued two memoranda, Accelerating Federal Use of AI through Innovation, Governance, and Public Trust (M-25-21) and Driving Efficient Acquisition of… more

Artificial Intelligence, Corporate Counsel, Executive Orders, Federal Contractors, Government Agencies

See all updates »

Jeremy Zou

2025 Tax Legislation Update: Key Provisions and Implications of the “One Big Beautiful Bill Act”

The “One Big Beautiful Bill Act” (the “BBB”) was signed into law by President Trump on July 4, 2025. The BBB generally extends certain tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) that would have otherwise expired… more

Business Taxes, Estate Tax, Income Taxes, New Legislation, One Big Beautiful Bill Act

See all updates »

Jeremy Zucker

Five Key Legal Considerations for Investments in Engineering and Design Firms

As the demand for infrastructure assets continues to grow, infrastructure investors are increasingly looking beyond traditional core infrastructure assets and turning their attention to infrastructure services businesses. Among… more

Acquisitions, Construction Industry, Contract Terms, Contractors, Corporate Governance

See all updates »

Gideon Zvi Palte

New Year, New Data Breach Notification Requirements in New York: Impactful Changes for Life Sciences and Consumer Health Care Companies

In December 2024, New York Governor Kathy Hochul signed into law two bills (A8872A and S2376B; collectively, the “Bills”) that amend New York’s Data Breach Notification Law. The Bills introduce a maximum thirty-day timeframe for… more

Compliance, Cybersecurity, Data Breach, Data Privacy, Data Protection

See all updates »
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