Steptoe & Johnson LLP (LexBlog Australia)

On December 2, 2022, the G7, EU, and Australia (Price Cap Coalition) jointly agreed upon a cap on the price of seaborne Russian-origin crude oil at USD 60 per barrel as of December 5, 2022. The cap is subject to change based on the Coalition’s objectives and market fundamentals. Upon reaching this consensus, the Treasury...

In an opinion Friday, Judge Stanton dismissed, on jurisdictional grounds, a case accusing the promoters of an initial coin offering of fraud, because the plaintiffs’ transactions did not occur domestically, as required by Morrison v. National Australia Bank, Ltd., 561 U.S. 247 (2010). The plaintiffs offered declarations from two putative class members who did not...

  In the News Roundup, Nick Weaver and I offer very different assessments of Australia’s controversial encryption bill. Nick’s side of the argument is bolstered by Denise Howell, the original legal podcaster, with 445 weekly episodes of This Week in Law to her credit. Later in the program, I interview Rep. Jim Langevin (D-RI), who’s...

On November 20, 2018, the European Parliament, the Council and the Commission reached a political agreement on the proposed EU framework for the screening of foreign direct investments (FDIs). The proposal, which was put forward by the Commission in September 2017, aims to protect key strategic industries and assets in Europe while maintaining the EU’s...

On 20 November 2018, the European Parliament, the Council and the Commission reached a political agreement on the proposed EU framework for screening of foreign direct investments (FDIs). The proposal, put forward by the Commission in September 2017, aims at protecting key strategic industries and assets in Europe whilst maintaining the EU’s appeal to foreign...

Two photographers filed a complaint Tuesday against the band Mötley Crüe, alleging that the band and its merchandise vendors used the photographers’ work without permission as part of the band’s “Final Tour.”  The band allegedly included the photographers’ work on clothing and other items sold during the tour (the band’s last before their retirement), which grossed...

Yesterday, Judge Sweet denied defendant Perry Gruss’ motion (which we previously reported on) to certify for immediate appeal the court’s holding that Morrison v. National Australia Bank Ltd., 130 S. Ct. 2869 (2010), did not bar SEC enforcement of Section 206 of the Investment Advisers Act even where the alleged fraud involved a foreign investor...

Yesterday, defendant Perry Gruss moved to certify for immediate appeal Judge Sweet’s recent ruling in SEC v. Gruss concerning the extraterritorial application of the Investment Advisers Act. In a case of first impression, Judge Sweet held that that the Supreme Court’s decision in Morrison v. National Australia Bank Ltd., 130 S. Ct. 2869 (2010), did...