Week in Review

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Swaps segregation rule approval, SEC settlement policy change, Supreme Court action on regulation, and more.

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  • The Securities and Exchange Commission (SEC) amended its policy on corporate admissions of guilt, barring companies from “neither-admit-nor-deny” civil settlements with the SEC if they had admitted guilt or been convicted in the same case.
  • The Justice Department (DOJ) released a legal memo concluding that President Obama acted within his legal authority in appointing Richard Cordray to lead the CFPB during the recent congressional recess.
  • The U.S. Supreme Court held that a religious school can claim a “ministerial exception” to the Americans with Disabilities Act when confronted with discrimination charges filed by a teacher who spent time performing religious and secular duties.
  • The U.S. Supreme Court affirmed that an employee’s eligibility for federal workers compensation benefits under the Outer Continental Shelf Lands Act could be established through a “substantial nexus” to the outer Continental Shelf, even though the worker was not offshore at the time of the injury.
  • Belarus banned its citizens from visiting virtually all foreign internet sites.
  • In response to reports of traces of fungicide found in orange juice, the FDA paused the importation of orange juice so as to allow testing for fungicide levels.