Recent developments in litigation and public policies portend continued scrutiny of algorithmic pricing tools and revenue/data management software. Continue Reading The Latest Intelligence: Antitrust Developments Impacting Providers and Users of Algorithmic Tools
On May 19, 2026, the Commodity Futures Trading Commission’s (“CFTC”) Division of Enforcement (“DOE”) issued a Staff Advisory setting forth a new policy for evaluating cooperation and self-reporting when considering whether to recommend enforcement actions to the CFTC (the “Policy”).[1] The Policy is effective immediately and supersedes the DOE’s February 25, 2025 Advisory on self-reporting, cooperation, and remediation, as well as all prior policies on these subjects. Taken as a whole, the Policy signals the DOE’s intent to create more transparent incentives for companies and individuals to self-report misconduct and cooperate with investigations. In response, market participants and registrants should consider strengthening their internal escalation and monitoring procedures so that they can evaluate the best strategy for DOE engagement regarding potential misconduct and position themselves to maximize benefits that may flow from this Policy. Continue Reading CFTC Announces New Cooperation Policy — Key Takeaways and Analysis
On May 5, 2026, the U.S. Securities and Exchange Commission (“SEC”) proposed rule and form amendments that would give public companies the option of filing semiannual reports in lieu of quarterly reports to meet their periodic reporting obligations under the federal securities laws (the “Proposed Amendments”). If adopted, the Proposed Amendments would represent a significant shift in the periodic reporting framework for public companies, reflecting the SEC’s current focus on reducing regulatory burdens on public companies while maintaining investor protections and providing the flexibility to determine the periodic reporting frequency that best serves the company and its stockholders. Continue Reading SEC Proposes Amendments to Permit Optional Semiannual Reporting by Public Companies
In recent weeks, US antitrust enforcers provided more guidance in this space, while also signaling enforcement priorities. Recent developments include active litigation (Agri-Stats), amicus-style interventions (Frozen Potato Products), and calls for comments on potential new guidance on collaborations and information sharing. Continue Reading The Latest Intelligence: Antitrust Developments Impacting Providers and Users of Algorithmic Tools
On February 24, 2026, the SEC Division of Enforcement (“Division”) released the first updates to its Enforcement Manual (“Manual”) since 2017. The updates—which the SEC characterized as underscoring its “ongoing commitment to fairness, transparency, and efficiency in the investigations conducted by the Division”—are an important window into the Division’s expected approach to investigations and will influence strategic decision-making by respondents and their counsel. While many early commentators have described the changes as significant, the revisions are better understood not as a sharp break from the past, but as a formalization of approaches the Division has employed in recent years with targeted enhancements layered on top. Continue Reading SEC Enforcement Division Revises Its Playbook: What the Updated Manual Signals About Enforcement Practices and Defense Strategy
As 2026 begins, enforcement actions and private litigation involving algorithmic pricing and information-sharing arrangements remain active. Agencies and courts continue to test how traditional antitrust principles apply to pricing tools and data-driven coordination theories. New state legislation has gone into effect in California and New York, adding a layer of uncertainty for providers and users of revenue management software and related tools. Continue Reading Algorithmic Collusion: State of Play and What to Watch in 2026
Recent Developments
Recently Filed Complaints
Residential Mortgage Borrowers Allege Residential Mortgage Originators Exchange Sensitive Information and Fix Loan Prices – Mendez v. Optimal Blue, LLC, No. 25-cv-1140 (M.D. Tenn.)
On 29 September 2025, the United Kingdom (“UK”) and the European Union (“EU”) reimposed Iran-related sanctions that were lifted in 2016 following the Iran nuclear deal. The UK and EU have made clear that these steps follow Iran’s failure to comply with its obligations under the Iran nuclear deal (the “Nuclear Deal”)[1], as endorsed by United Nations (“UN”) Security Council Resolution 2231 (2015) (“UNSCR 2231”). This change marks an abrupt end to a period when Europe took a more open approach to doing business with Iran, while the United States (“U.S.”) had maintained a comprehensive sanctions program against Iran. We discuss below some of the key restrictions that have been reimposed and the practical implications this is likely to have for businesses. Continue Reading Iranian Sanctions “Snapback”: Implications for Businesses of the Reimposition of EU and UK Sanctions
On October 3, 2025, the United States Court of Appeals for the Sixth Circuit upheld the application of the attorney-client privilege and work product doctrine to internal investigations. The Sixth Circuit’s decision to grant a writ of mandamus In re: FirstEnergy Corp., No. 24-3654 (6th Cir. Oct. 3, 2025) reversed the district court’s order compelling production of documents related to internal investigations commenced by FirstEnergy Corporation. Continue Reading United States Court of Appeals for the Sixth Circuit Grants Writ of Mandamus to Preserve Privilege for Internal Investigations
September 15–29, 2025
Guidelines for Assessing and Mitigating Antitrust Risk
Following are some of the key issues we have seen emerge as we monitor these areas of the law and some questions you might consider asking about the software provided or used by your business.