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April 19 Digest

Posted By Administration, Wednesday, April 19, 2017

Trump Business Competitors Allege Unfair Impact in Emoluments Suit

Restaurants and hotels in which President Donald Trump has financial interests are unfairly siphoning business away from competitors in New York and Washington, D.C., the new plaintiffs in a watchdog group's emoluments suit against Trump allege.

The new plaintiffs may help Citizens for Responsibility and Ethics in Washington (CREW), which filed an amended complaint on Tuesday adding Restaurant Opportunities Centers United and a woman who books embassy events for two Washington hotels, bolster its case for standing in the suit.

Deepak Gupta of Gupta Wessler, a member of CREW's legal team, said the new plaintiffs make the plaintiffs' standing in the case "irrefutable."

Will Law Schools' LL.M Programs Suffer from Trump's 'America First' Stance?

Law school administrators say concerns are growing from foreign students about how the myriad immigration and travel policies emerging from Washington could impact their plans to obtain LL.M degrees in the United States.

The advanced law degree programs bring in about $350 million annually to the more than 100 U.S. law schools that offer them, with around 10,000 foreign students coming here each year to pursue an LL.M.

LL.M faculty are worried that those lucrative programs could lose their luster should the United States gain a reputation as unwelcoming to foreigners, and they say some LL.M applicants are grappling with whether they want to come to such a place.

Supreme Court May Clip SEC's Enforcement Power

A key U.S. Securities and Exchange Commission enforcement tool may soon be reined in by the U.S. Supreme Court, or so it seemed after the justices heard arguments Tuesday in the case of a New Mexico investment adviser convicted of fraud over more than two decades.

Before the court was Kokesh v. SEC, which zeroes in on the SEC's use of "disgorgement"—ordering fraudsters to cough up their ill-gotten gains. The government has raked in billions of dollars through disgorgement—$2.8 billion in 2016 alone—with a portion going to the victims.

At issue is whether disgorgement actually counts as a penalty, a forfeiture, or neither—an important question because federal law requires that penalties or forfeitures be imposed within a five-year statute of limitations.

 

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