All Perspectives

On December 19, New York Governor Kathy Hochul vetoed S8432/A8662, a bill to amend the New York LLC Transparency Act that would have decoupled it from the federal Corporate Transparency Act (CTA) definitions.

The past year has been unusually active on the health care antitrust front. Providers are pressing price-fixing and information-exchange theories against payers and claims intermediaries and a landmark class settlement moving into its implementation phase.

Many foreign nationals travel home during the holidays to visit family. Recent federal actions have significantly restricted international travel for some foreign nationals, creating a risk that some individuals could be stranded outside the United States for extended periods. These disruptions can affect both the individual and their US employer.

Headlines that Matter for Companies and Executives in Regulated Industries

The use of artificial intelligence (AI) to generate digital representations of real or fictional people — “AI avatars” — offers new ways to build brands, drive engagement, and grow revenue by accelerating content creation and lowering production costs. It also raises the following important legal considerations.

AFS Partners Susan Bart and Kevin Matz were quoted on the emerging gift tax reporting issues tied to new “Trump Accounts,” cautioning that routine family contributions could trigger onerous IRS Form 709 Gift and Generation-Skipping Transfer Tax filing obligations absent a legislative or regulatory fix comparable to the long-standing relief afforded to 529 plans.

Adopting an “AI policy” is critical for managing an organization’s use of artificial intelligence (AI) tools. A targeted AI policy can provide clear guardrails that can then be incorporated into organization-wide training but be prepared to pivot quickly as these technologies evolve.

Public-facing debates over pharmaceutical drugs and life sciences products are as pronounced as ever. Although the ongoing scuffle over Tylenol has received the most attention, similar controversies abound. Just last month, Aurinia Pharmaceuticals filed a defamation complaint against a now-resigned US Food and Drug Administration (FDA) official over critical statements made about one of its drugs.

The US state-level privacy law landscape continues to evolve at a very rapid rate. On January 1, 2026, new state privacy laws take effect in Indiana, Kentucky, and Rhode Island. Cure periods sunset throughout the year for state privacy laws in Connecticut, Delaware, Kentucky, Minnesota, and Montana, with additional large language model (LLM) disclosure changes also effective this summer.

AFS partner Kevin Matz and his co-author Shifra Herzberg summarize the IRS’s initial guidance on new “Trump accounts” created under IRC Section 530A to promote children’s long-term savings in his latest article for Wealth Management.

In recent months, three federal courts have refused to enforce expansive US Department of Justice (DOJ) administrative subpoenas issued to providers of gender-affirming care, concluding the subpoenas were issued for an improper purpose or exceeded the government’s statutory authority. These rulings are significant.

Partner Michelle Mancino Marsh was quoted on a Northern District of Illinois decision denying a temporary restraining order and potentially pausing Schedule A litigation in that District to reassess its use, a move that Michelle said could complicate anti-counterfeiting efforts.

On December 12, the Eleventh Circuit heard the much-anticipated oral arguments in United States ex rel. Zafirov v. Florida Medical Associates LLC concerning the constitutionality of the False Claims Act’s (FCA) qui tam provisions.

Kevin Timson talks with Mercer Capital Vice President David Harkins, who shares insights into automotive dealership valuation.

On December 11, the White House issued a sweeping Executive Order (EO) that sets a national policy favoring a minimally burdensome federal framework for artificial intelligence (AI).

Cryptocurrency is creeping into the municipal market. This is an unusual development for a market known for its prudent fiscal practices. It is actually quite astonishing.

Welcome to the December 2025 issue of “As the (Customs and Trade) World Turns,” our monthly newsletter where we compile essential updates from the customs and trade world over the past month. We bring you the most recent and significant insights in an accessible format, concluding with our main takeaways — aka “And the Fox Says…” — on what you need to know.

Partner Ehsun Forghany spoke with Law360 about the top patent cases and decisions of 2025, including Lashify v. International Trade Commission and Ingenico v. Ioengine, and how those two Federal Circuit decisions have already shifted the patent litigation landscape.

ArentFox Schiff is pleased to announce the election of 18 new partners, effective January 1, 2026.

Headlines that Matter for Companies and Executives in Regulated Industries

Federal regulators are taking a coordinated step to accelerate the responsible integration of digital health technologies into routine care.

Companies have long dreaded litigation filed by federal environmental regulators because such cases tended to last forever and posed financial and representational risk.

New York City employers should prepare to comply with additional changes to the Earned Safe and Sick Time Act (ESSTA) and the Temporary Schedule Change Act (TSCA).

In a closely watched consumer protection lawsuit, a federal court has ruled that Chipotle’s loyalty rewards points are not “gift certificates” or “gift cards” under either New York or California law.

ArentFox Schiff is hosting and sponsoring the 2025 NYSSCPA Private Wealth Conference on December 11th in New York. Speakers include AFS Partners Kevin Matz, Todd Angkatavanich, and Tracy McLaughlin.