States continue to implement new premerger notification regimes and expand the scope of existing requirements, with California and Rhode Island recently adding new premerger notification requirements that dealmakers must navigate to successfully complete transactions.

On January 27, 2026, the U.S. Department of Health and Human Services Office of Inspector General (the OIG) issued a Special Advisory Bulletin (the Bulletin) addressing the application of the federal anti-kickback statute (the AKS) to direct-to-consumer (DTC) prescription drug sales. 

The Bulletin, the OIG’s first Special Advisory Bulletin since September 2014, was issued in response to the proliferation of DTC programs. The Bulletin, which sets forth the framework under which a manufacturer’s DTC program presents a low risk of violating the AKS, is viewed by the growing DTC industry as favorable guidance. DTC programs offering modern weight-loss medications, such as GLP-1 drugs, are becoming increasingly popular, and the Bulletin provides a helpful framework to support the viability of these programs. 

Even though five years have passed since Congress enacted the Paycheck Protection Program (PPP) as an emergency response to the COVID‑19 pandemic, enforcement activity relating to PPP loans remains an active component of the federal government’s civil fraud agenda and—with the statute of limitations not expiring for another roughly five years—all indications are that it will continue to be an enforcement priority for the foreseeable future.