On July 1, 2024, the U.S. Supreme Court issued another end-of-term major decision limiting the scope of federal agency actions in Corner Post, Inc. v. Board of Governors of the Federal Reserve System. Adding to the tectonic shift in the regulatory landscape created by the Court’s June 27 and 28 rulings constraining the role of administrative law judges and overturning longstanding “Chevron deference” by courts to federal agency expertise, the decision in Corner Post establishes a newly expanded time frame for affected entities to challenge final agency action. Instead of confirming that final agency action is subject to a default six-year statute of limitations, the Court held that under the Administrative Procedure Act (APA), the time limit for appeal begins to run when a plaintiff is injured by the agency's action, not when the action becomes final. This decision has important implications for businesses and others affected by federal regulations.

In a much-anticipated decision, on June 28, 2024, the Supreme Court issued a sweeping opinion “overrul[ing]” a 40-year old precedent that required judges to defer to federal agency interpretations of their governing statutes when those laws were ambiguous or silent. Loper Bright Enterprises v. Raimondo, et al. No. 22-451 (2024), overruling Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984).

The Supreme Court issued a landmark ruling on June 27, 2024 that significantly curtails the powers of the Securities and Exchange Commission (“SEC”) and has far-reaching implications for administrative law judges (“ALJs”) across the federal government.

On May 30, 2024, China's Ministry of Commerce, in conjunction with the General Administration of Customs and the Equipment Development Department of the Central Military Commission, announced new export controls on select aviation and aerospace-related equipment and technologies. These controls, set to take effect on July 1, 2024, cover four main categories of items: equipment and technology for manufacturing aerospace structures and engines; gas turbine manufacturing equipment and technology; spacesuit window-related items; and ultra-high molecular weight polyethylene fiber products.

In welcome news to employers, the U.S. Supreme Court on June 13, 2024 issued a decision in Starbucks Corp. v. McKinney that clarifies that the National Labor Relations Board can only obtain a preliminary injunction under the National Labor Relations Act if it can satisfy the four-factor test traditionally applicable to this extraordinary form of relief. In doing so, the Court resolved a circuit split whereby some courts had applied a less exacting standard when assessing the Board’s preliminary injunction applications.

The Department of the Treasury's Office of Foreign Assets Control (“OFAC”) published a final rule in the Federal Register on May 29, 2024 amending the Cuban Assets Control Regulations to further implement the Biden administration's policy announced on May 16, 2022, aimed at increasing support for the Cuban people.

On May 13, 2024, President Biden signed into law a bill that bans imports of Russian uranium for use as nuclear fuel in the United States. The new law, titled the "Prohibiting Russian Uranium Imports Act," H.R. 1042, 118th Cong., § 2 (2024), aims to cut off a significant source of revenue for Russia and to reduce U.S. dependence on Russian nuclear fuel. The ban unlocks a significant increase in federal funding to grow the country’s uranium industry. As a result of the ban, some companies will need to apply for waivers for utilities, which they must do by January 1, 2028.

On June 3, 2024, Colorado Governor Jared Polis signed HB24-1472 to increase the damages caps for personal injury and wrongful death claims. The law nearly triples the amounts available to plaintiffs, which will continue to increase for inflationary adjustments beginning in 2028 and every two years thereafter. These new damages caps affect not only claims that accrue in 2025 and beyond, but they also change the caps for any civil cases filed on or after January 1, 2025. This law was enacted as a compromise to a ballot measure that would have removed any cap on damages.