USA, Sidley Austin LLP updates

Banking

Contributed by Sidley Austin LLP
CFPB principles for data aggregation services could have broad implications
  • USA
  • December 08 2017

The Consumer Financial Protection Bureau recently released a set of consumer protection principles designed to protect consumer interests in the market for services built around consumer-approved use of financial information. The principles are targeted at so-called 'data aggregation' or 'screen scraping' services that collect customer information in order to provide financial planning or other services.

Volcker Rule: OCC requests public input on potential revisions
  • USA
  • September 29 2017

The US Office of the Comptroller of the Currency (OCC) recently released a notice seeking public input regarding how to revise the Volcker Rule. The notice cites a report released by the US Treasury Department, which included recommendations for significant changes to the rule. Although the OCC did not propose specific changes to the rule in its notice, it stated that the information that it is soliciting could support the revisions to the final rule advanced in the Treasury report and elsewhere.

CFPB proposes amendments to final rule for pre-paid accounts
  • USA
  • July 21 2017

The Consumer Financial Protection Bureau recently issued proposed amendments to its final rule to expand existing consumer protections for electronic fund transfers to pre-paid accounts. Among other things, the proposal would modify the final rule to exempt pre-paid account issuers from the error resolution and limitation of liability provisions with respect to unregistered cardholders and provide more flexibility to issuers of digital wallet accounts that are covered by the final rule.

Treasury releases report to reform US financial system
  • USA
  • July 14 2017

The Treasury Department recently released its long-awaited report to reform the US financial system. The report includes dozens of recommendations to reform laws, treaties, regulations, guidance, reporting and recordkeeping requirements and other government policies that inhibit federal regulation of the financial system in a manner consistent with the set of core principles enunciated by President Trump in Executive Order 13772.

OCC issues third-party relationship FAQs
  • USA
  • July 07 2017

The Office of the Comptroller of the Currency recently issued a set of frequently asked questions (FAQs) to supplement its 2013 bulletin on third-party relationship risk management. The FAQs affirm the bulletin's broad applicability, while re-emphasising the need for third-party relationship oversight to be risk based and tailored to individual institutions' needs and delving into several more detailed compliance questions.


Environment & Climate Change

Contributed by Sidley Austin LLP
Ninth Circuit permits interest group enforcement of Resource Conservation and Recovery Act
  • USA
  • January 08 2018

Can an environmental organisation file suit under the Resource Conservation and Recovery Act's citizen suit provision claiming harm from stormwater run-off which could be, but was not, subject to limits under a Clean Water Act permit? The US Court of Appeals for the Ninth Circuit recently held that it could. The ruling is a portentous development at a time when environmental groups are actively seeking out litigation opportunities to enforce federal regulations.

Ninth Circuit limits reach of anti-duplication provision
  • USA
  • December 18 2017

The Ninth Circuit recently issued an opinion that reflected a limited interpretation of the scope of the Resource Conservation and Recovery Act's anti-duplication provision, which provides that the act must be construed to apply to or authorise state regulation of "any activity or substance" regulated under several other federal statutes, including the Clean Water Act.

EPA issues directive on advisory committees
  • USA
  • December 11 2017

The Environmental Protection Agency (EPA) recently issued a directive intended to strengthen and improve membership on the agency's advisory committees. The directive calls for the EPA to apply the following principles in setting membership on its advisory committees: strengthen member independence; increase state, tribal and local government participation; enhance geographic diversity; and promote fresh perspectives.

Officials allegedly violating youth plaintiffs' constitutional rights by failing to fight climate change
  • USA
  • December 11 2017

A pair of new lawsuits claim that various government officials and agencies are violating youth plaintiffs' constitutional rights due to a failure to combat climate change sufficiently. The first case is against the state of Alaska, its governor and various other state officials and agencies. The second case alleges that specific Trump administration actions violated the plaintiffs' due process and public trust doctrine rights.

EPA issues NODAs regarding 2016 NSPS for oil and gas industry
  • USA
  • December 04 2017

The Environmental Protection Agency recently issued two notices of data availability in support of its proposed stays of various portions of the 2016 New Source Performance Standards for the oil and gas industry (known as the 'Quad Oa' rule). The notices include a proposed two-year stay of the Quad Oa requirements and a proposed three-month stay to run during the gap between the publication and effective dates of the two-year stay.


Healthcare & Life Sciences

Contributed by Sidley Austin LLP
Court corrects ruling requiring laboratories to verify medical necessity independently
  • USA
  • January 17 2018

Clinical laboratories are in a difficult position: although laboratory tests must be medically necessary to be reimbursable by federal healthcare programmes, laboratories often do not directly engage with patients in a way that would permit them to assess medical necessity. A district court recently corrected its ruling regarding the extent to which laboratories can be held liable under the False Claims Act when the tests for which they submit claims are not medically necessary.

California passes sweeping prescription drug price transparency law and co-pay coupon ban
  • USA
  • December 06 2017

California recently passed two bills with significant implications for pharmaceutical manufacturers: one imposing prescription drug price transparency requirements and another prohibiting certain types of co-pay coupon and other prescription drug discounting programmes that lower patient cost-sharing amounts for prescription drugs.

Fifth Circuit rules for pharmaceutical manufacturer based on relators' failure to establish causation
  • USA
  • October 04 2017

The Fifth Circuit recently affirmed summary judgment for a pharmaceuticals manufacturer on allegations that the company had violated the False Claims Act as a result of off-label marketing efforts and kickbacks to physicians. In its decision, the court emphasised the relators' failure to demonstrate a causal link between the alleged improper conduct and any false claims.

District court dismisses False Claims Act claims based on no evidence of falsity
  • USA
  • September 27 2017

The US District Court for the Northern District of Illinois recently dismissed the False Claims Act claims brought by the federal government and two state governments based on allegations that Par Pharmaceuticals had orchestrated an unlawful prescription-switching scheme. While the judge acknowledged that Par may have conspired to increase its own profits, it rejected the federal and state governments' claims due to their failure to allege the submission of any claims that actually were false.

Bipartisan group of senators reintroduces CHRONIC Care Act
  • USA
  • June 07 2017

A bipartisan group of senators recently introduced Section 870 of the Creating High-Quality Results and Outcomes Necessary to Improve Chronic Care Act, which reflects proposals to extend home healthcare, expand benefits for chronically ill Medicare beneficiaries and direct the Government Accountability Office to issue reports, among other things.


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