Late Friday afternoon, the U.S. Supreme Court granted a stay of the Fourth Circuit’s decision setting aside the FCC Media Bureau’s guidance on entitlement to the lowest unit charge (“LUC”) for certain political ads placed on broadcast TV and radio.
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SEC Proposes to Repeal Longstanding Pay-to-Play Restrictions on Investment Advisers
On September 3, 2026, the Securities and Exchange Commission (“SEC”) voted to propose rescinding in its entirety Rule 206(4)-5 under the Investment Advisers Act of 1940, the agency’s longstanding “pay-to-play rule” applicable to investment advisers. If finalized, the proposal would
The Procedural Puzzle Complicating the Fauci Contempt Referral
As widely reported, the Senate Homeland Security and Governmental Affairs Committee voted to hold Dr. Anthony Fauci in contempt of Congress following his appearance before the Committee in July, where he refused to answer the Committee’s questions by asserting his
Fourth Circuit Sets Aside FCC Media Bureau Guidance on Lowest Unit Charge; FCC Asks the Supreme Court to Step In
On August 25, 2026, a divided panel of the U.S. Court of Appeals for the Fourth Circuit set aside guidance by the FCC’s Media Bureau stating that two types of political advertising were entitled to the favorable “lowest unit charge”
DOJ Signals it will Move Forward with Significant Revisions to FARA Regulations
In an August 2026 Unified Agenda entry, the Department of Justice (“DOJ”) stated that it intends to complete its long-running effort to revise the regulations implementing the Foreign Agents Registration Act (“FARA”). The National Security Division (“NSD”) stated that
OLC Opinion Would Extend Executive Privilege to Include Private Advisers, Inviting Future Disputes with Congress and New Considerations for Private Parties
The Department of Justice’s Office of Legal Counsel (“OLC”) has issued a new legal opinion that may offer the administration new tools to withhold from disclosure the President’s communications with certain private parties. In an opinion published this week, OLC
Fauci Contempt Vote Underscores Renewed Stakes of Congressional Testimony
On August 6, 2026, the Senate Homeland Security and Governmental Affairs Committee voted along party lines to hold Dr. Anthony Fauci in contempt of Congress. The vote followed Dr. Fauci’s refusal to answer questions during a July 29, 2026, hearing
Defense Department Publishes Guidance Page Concerning Restrictions on Defense Contractors Retaining Outside Consultants
Over the last month, we have issued multiple client alerts outlining developments related to the Chinese military company covered lobbyist prohibition enacted by Section 851 of the National Defense Authorization Act (“NDAA”) for Fiscal Year (“FY”) 2025, codified at
Early Post-NRSC Domino Falls: Minnesota Stops Enforcing Limits on Certain Party In-Kind Contributions
State regulators are beginning to grapple with the implications of the Supreme Court’s recent decision in National Republican Senatorial Committee v. FEC (“NRSC”). Minnesota may have provided the first clear example of how the ruling could reshape state campaign finance
Regulations Issued for New Restrictions on Defense Contractors Retaining Outside Consultants
The Chinese military company covered lobbyist prohibition enacted by Section 851 of the National Defense Authorization Act (“NDAA”) for Fiscal Year (“FY”) 2025, codified at 10 U.S.C. § 4663, took effect on June 30, 2026. Just before that