Beginning in early November, a multitude of companies have filed claims in the U.S. Court of International Trade seeking refunds of the Trump administration’s “reciprocal” tariffs imposed under the International Emergency Economic Powers Act (IEEPA) in the event that the Supreme Court determines that such tariffs are unlawful.

(The Insurance Code Does Not Impose an Independent Obligation on Insurers to Retroactively Refund Premiums Based on Approved Rates When Those Rates Later Become “Excessive”)

(Extrinsic Evidence Offered to Show a Latent Ambiguity in an Exception to the Pollution Exclusion is Inadmissible Because the Term “Sudden” Could Not Reasonably Be Construed to Mean Gradual)

(Insurance Commissioner Is Not Authorized To Add Liability Insurance To The Coverages That The California Fair Plan Association Must Offer As “Basic Property Insurance”)

(No Accident Notwithstanding Jury Determination of Negligence Barred Indemnity Coverage Under Liability Policy)

On December 4, 2025, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) assessed a $7,139,305 penalty against a New York-based property management company, Gracetown, Inc., for violating OFAC’s Russia-related sanctions and “for failing to file reports of blocked assets.”

Artificial intelligence and digital marketing have become ubiquitous in real estate advertising. The widespread use of AI creates risk for consumers who don’t know whether images shown online or on the multiple listing services are real. A new California law that goes into effect in January 2026 tries to draw a clear line: innovation is welcome but deception is not. 

On December 18, 2025, President Donald Trump issued an Executive Order directing the United States Attorney General to expedite and complete its rulemaking process for reclassifying “marihuana” (today generally referred to as “cannabis”) as a Schedule III substance under the Controlled Substances Act (“CSA”). This Client Alert examines the Executive Order and the effects it may have on the state-legal cannabis industry if rescheduling comes to pass.

In furtherance of the Administration’s efforts to make the federal government the voice on artificial intelligence (AI), on December 11, 2025, President Trump issued an Executive Order (EO) titled “Ensuring a National Policy Framework for Artificial Intelligence” (the “Order”). This Order is aimed at advancing the federal government’s ambition to maintain U.S. global leadership in AI by preempting divergent state-level AI regulations and creating a cohesive national regulatory framework. As discussed below, this change is not simple, and businesses are well advised to follow these developments closely to minimize risks and maximize opportunities.