Steptoe LLP

In January 2025, the English High Court granted a rare anti-enforcement injunction (AEI) restraining worldwide enforcement of a series of Russian judgments against two Google entities. Apart from the sums involved surpassing "the estimated GDP of all the economies in the world," the AEI was justified on unusual terms, primarily on the novel basis that any attempt to restrain Russian proceedings with an anti-suit injunction would have been "futile." The decision highlights AEIs as a potential alternative remedy to mitigate the unpredictable consequences of parallel proceedings and the resulting judgments that cannot be restrained by ordinary anti-suit relief. For more information, see our recent client alert, “The “Futile” Anti-Enforcement Injunction: English High Court Grants Rare Relief Against “Other-Worldly” Russian Judgments,” authored by associate Michael L.: https://lnkd.in/eyyUwJND

Steptoe partners Michael Miller and Julia Gatto, and associate Spencer Busby authored an article titled “When Lawyers Become Lawbreakers: A Deep Dive into New York Attorney Convictions, 2020-25,” which appeared in the New York Law Journal. The article, the third in a series, examines data collected by Steptoe analyzing New York attorney convictions between 2020 and 2025. Read the full article in the New York Law Journal: https://lnkd.in/e45KtaFF

We're pleased to share Issue 7 of our "Policy Perspectives" newsletter. Our bipartisan team at Steptoe LLP continues to provide timely and informed insights into the latest policy developments impacting international relations, trade, tax, energy, congressional investigations, insurance, and more.? ? Subscribe on LinkedIn to stay updated with our critical perspectives on the evolving regulatory landscape and executive orders.

Bloomberg Law quoted Akita Adkins in an article titled, “SEC Enforcement Director Loses Obama-Era Subpoena Authority.” The article discusses how the Securities and Exchange Commission’s top brass will exercise stricter control over investigations into US public companies. Speaking on the impact of the loss of authority, Adkins says, “The Commission, by removing sub-delegated and delegated authority, does get earlier insight into what types of investigations are being conducted and early ability to weigh in on whether formal order authority should be granted.” Read the full article in Bloomberg Law (Subscription Required): https://lnkd.in/eMcJtERJ

On March 13, 21 attorneys general from 20 states and Washington, D.C., sued the Trump administration to block its plan to place 50% of Department of Education employees on administrative leave. The lawsuit claims this reduction violates the Constitution and the Administrative Procedure Act, effectively dismantling the Department and impeding its ability to fulfill its statutory duties. For more information, read our recent client alert, “States Sue Over Department of Education's Workforce Reduction Plan,” authored by members of Steptoe's Higher Education team, Dwight Draughon, Patrick Linehan, Ryan P. Poscablo, Alex Wolf, Ciara Davis, and Brittney L. Denley: https://lnkd.in/eZD2jM_B

We’re pleased to share that Steptoe partner Coy Garrison will be participating in the U.S. Securities and Exchange Commission's Crypto Task Force’s inaugural roundtable, “How We Got Here and How We Get Out – Defining Security Status,” taking place tomorrow, March 21 in Washington, DC. The roundtable is part of a series to discuss key areas of interest in the regulation of crypto assets. The event will be streamed live on the SEC website and in person attendees will have the opportunity to pose questions to panelists. Coy is a former SEC counsel and career staffer. He provides regulatory counsel to help crypto clients meet their legal obligations, manage risk, and achieve their business goals. Visit the SEC’s website for more information about this event: https://lnkd.in/gcSGRCiX

Steptoe's Brussels office received three practice mentions and seven individual mentions for lawyers in the 2025 edition of Chambers and Partners Europe. Congratulations to all of our honorees: Darren Abrahams, Eléonore Mullier, Elisabethann Wright, Eva Monard, Renato Antonini, and Ruxandra Cana! Visit our website for additional information on our Chambers-ranked practices and individuals:?https://lnkd.in/ekAk8wvK

As the 119th Congress gets underway, businesses and individuals must prepare for a potentially rigorous landscape of congressional investigations. With a Republican majority controlling both chambers of Congress and the executive branch, congressional investigations are likely to complement the goals of the Trump Administration. We also expect continued scrutiny and heightened interest in key issues from 2024. While there is likely to be some continuity in investigatory practices, there are also important changes on the horizon. Read our recent client alert, “Strategies for Staying Ahead: Key Insights on Congressional Investigations in 2025,” authored by partners Jason Abel and Patrick Linehan, and associate Elizabeth Goodwin, for more information: https://lnkd.in/gZjTdCks

Steptoe partners Stephen Aschettino, Benjamin Saul, and Andrew Owens and associate Tarrian L. Ellis, Esq. authored an article titled “How Banks Can Prepare For NYDFS Overdraft Overhaul,” which appeared in Law360. The article examines amendments announced by the New York State Department of Financial Services, or NYDFS, to Title 3 of the New York Codes, Rules and Regulations, Parts 32 and 6, which introduced stringent requirements governing overdraft and insufficient funds fees. Read the full article in Law360: https://lnkd.in/g5m2EMPA.

Recently, the New York Attorney General brought an antitrust case, New York v. Intermountain Management, Inc.,?where a dominant ski resort operator purchased a competitor’s ski mountain, only to immediately shut it down, explicitly to drive customers to his own properties. While the court’s decision focuses primarily on the capture-and-kill acquisition as an antitrust violation that concentrated the market, more impactful on general M&A practice is the court’s finding that the noncompete clauses in the merger agreement constituted a per se antitrust violation. In light of this case, there is more risk for companies using noncompete terms in their acquisition agreements. For key takeaways, read our recent StepAhead: Antitrust & Competition Insights newsletter, “M&A Noncompetes Under Fire: NY AG’s “Capture-and-Kill” Ski Resort Case Offers Critical Lessons,” authored by partner Lee Berger and associate Travis West:?https://lnkd.in/gGp92N5Y