On August 31, the U.S. Securities and Exchange Commission (SEC) and the U.S. Food and Drug Administration (FDA) executed a Memorandum of Understanding (MOU) establishing a formal framework for sharing nonpublic information between the two agencies. The MOU takes effect immediately upon signature and reflects a significant step toward coordinated regulatory and enforcement activity at the intersection of public health and financial markets.
The 2026 attorney general (AG) primary season has largely come to a close, and while the November general elections will ultimately determine the partisan composition of several key offices, the enforcement agenda is already well underway. State AGs have been active across a broad range of industries and issue areas in the first half of 2026 – and the activity shows no signs of slowing. From artificial intelligence (AI) and consumer financial services to privacy, marketing, and advertising, state AGs are filling enforcement gaps left by reduced federal activity and staking out independent regulatory ground. The following is an overview of the key areas where companies should expect continued and intensified state AG scrutiny through the remainder of the year, beginning with an update on the races that will shape the enforcement landscape heading into 2027.
RICHMOND – Troutman Pepper Locke vice chair and co-leader of the firm’s nationally ranked State Attorneys General Practice, Ashley L. Taylor, Jr., has been named to the Virginia Lawyers Hall of Fame by Virginia Lawyers Weekly, recognizing his outstanding career, leadership, and lasting impact on the legal profession in Virginia and beyond.
In Sztrom v. SEC, the U.S. District Court for the District of Columbia confirmed that the U.S. Supreme Court’s 2024 decision in SEC v. Jarkesy, which curtailed the Securities and Exchange Commission’s (SEC) ability to seek civil penalties in its administrative forum, does not eliminate the agency’s long-standing ability to pursue industry bars through administrative follow-on proceedings. The opinion underscores that, even after Jarkesy and other recent limits on agency power, the SEC may still use its in-house process to determine whether to bar previously enjoined defendants from the securities industry, with independent review limited to the courts of appeals.
Washington, D.C. and Atlanta – March 2026 – Troutman Strategies (Strategies) and Troutman Pepper Locke’s Regulatory Investigations, Strategy + Enforcement (RISE) team announced the addition of three professionals who deepen the firm’s federal, state, and regulatory capabilities: Jason A. Smith with the RISE team in Washington, D.C. and New York, Audra Hill as state affairs coordinator in Georgia, and Brian Mann as a government affairs specialist on the federal team in Washington, D.C.
On December 17, New Jersey announced its adoption of what its Attorney General is calling the “most comprehensive state-level disparate impact regulations in the country.” Effective December 15, 2025, the Division on Civil Rights’ (DCR) new rules under the New Jersey Law Against Discrimination (LAD) codify guidance on disparate impact discrimination across housing, lending, employment, places of public accommodation, and contracting.
ATLANTA – David B. Dove, a partner in Troutman Pepper Locke’s Regulatory Investigations, Strategy and Enforcement Practice Group, has been elected chair by the Board of Regents of the University System of Georgia (USG). Dove, who is currently serving as vice chair, will begin a one-year term on Jan. 1, 2026.
AUSTIN – Robert Miller, principal at Troutman Strategies, has been named to USLege’s Lobby Legends of the Year list for 2025. The list recognizes individuals who have demonstrated consistent influence and credibility across multiple legislative sessions, possess deep institutional knowledge, and maintain trusted relationships across the political spectrum. Additionally, honorees are acknowledged for their role in mentoring and elevating the next generation of Texas lobbyists.
This article was originally published on August 4, 2025 on Law360 and is republished here with permission.
As the federal government pursues a deregulatory agenda, state regulators are increasing their enforcement activities to fill perceived gaps in oversight. They pursue their own regulatory agendas under state regulatory regimes that are often less developed than similar federal laws. This lack of existing state-level precedent opens the door for states to employ novel and aggressive legal theories that increase risk and uncertainty for private actors. Businesses should respond by evaluating opportunities to leverage the more comprehensive body of federal law as persuasive authority for previously unresolved questions of state law.
In Part Two of this FAQ series, we continue to break down Virginia’s Senate Bill 754, Consumer Protection Act; prohibited practices, etc., reproductive or sexual health information (Act), which amends the Virginia Consumer Protection Act (VCPA). The law went into effect on July 1, 2025.