In the first half of 2024, the Financial Industry Regulatory Authority (FINRA) issued several fines and suspensions against participants in the municipal market, including for violations of its registration, reporting,...more
7/26/2024
/ Broker-Dealer ,
Department of Justice (DOJ) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
MSRB ,
Municipal Securities Market ,
Proposed Rules ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
Summary -
Following a string of unsuccessful prosecutions in the labor space, the DOJ Antitrust Division moved this week to dismiss its last indicted criminal no-poach case, which had been pending against Surgical Care...more
11/21/2023
/ Antitrust Division ,
Antitrust Provisions ,
Antitrust Violations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Employees ,
Employment Contract ,
Enforcement Actions ,
Motion to Dismiss ,
No-Poaching ,
Sherman Act ,
Wage-Fixing
Summary -
In People v. Reid and People v. Muhammad, the New York Court of Appeals overturned murder convictions due to violations of defendants’ Sixth Amendment right to open courtrooms. In both cases, the trial courts had...more
On October 27, 2022, VDA OC, LLC, (VDA) a Nevada health care staffing company, pleaded guilty to participating in a conspiracy to suppress and eliminate competition for the services of school nurses. According to the plea,...more
Whether employee no-poach agreements are illegal per se is being tested in a criminal case, U.S. v. Surgical Care Affiliates LLC et al., drawing the attention of many interested parties, including the United States Chamber of...more
In an historic move this week, the Securities and Exchange Commission (SEC) and the Antitrust Division of the Department of Justice (DOJ) executed the first-ever memorandum of understanding (MOU) between the two agencies. ...more
In a shot across the bow of online payday lenders who allegedly disregard state law where their borrowers reside, a New York County grand jury recently voted a criminal usury and conspiracy indictment against 12 companies...more
Last week, New York Attorney General Eric Schneiderman announced settlements with six auto dealers imposing fines ranging from $7,500 to $15,000 for allegedly engaging in deceptive and misleading advertising practices. The...more
On January 24, 2014, New York Attorney General Eric Schneiderman announced that a settlement had been reached with Western Sky Financial, LLC, Cash Call, Inc., WS Funding, LLC, and their principals for alleged violations of...more
The New York Department of Financial Services (DFS) opened a new front in its campaign against the payday lending industry by subpoenaing 16 online lead generation firms that allegedly collected and sold consumers’...more
A settlement with the operator of five Buffalo-area debt collection companies announced on November 21, 2013, by New York Attorney General Eric T. Schneiderman marks the latest chapter in the Attorney General's targeting of...more
The New York City Department of Consumer Affairs (DCA) recently filed an enforcement action to enjoin National Credit Adjusters, LLC, a national debt collector, from collecting debts in the City. The DCA had rejected the...more
A proposal by the New York Department of Financial Services (DFS) would substantially drive up the costs of bringing consumer debt collection actions in the state. The DFS is seeking stronger court rules for obtaining default...more
Commenting that “Alice in Wonderland has nothing on” a New York law that prohibits merchants from imposing a surcharge on credit card purchases, a New York federal court has entered a preliminary injunction that prohibits the...more
The New York Department of Financial Services (DFS) may take direct and indirect actions against online tribal lenders, Judge Richard Sullivan of the Southern District of New York held in a ruling last week. The decision is...more
The New York Department of Financial Services (DFS) recently issued proposed force-placed insurance regulations to reduce premiums and eliminate kickbacks that it claims are pervasive in the industry. The regulations will...more
Force-placed insurance remains in the crosshairs of New York financial regulators. Last week, the state’s Department of Financial Services (DFS) sent a warning letter to all New York-licensed insurance producers about...more
The New York Department of Financial Services (DFS) has proposed new regulations that would impose significant disclosure and other requirements on persons engaged in the collection of consumer debts....more
The Cuomo administration, through the New York State Department of Financial Services (DFS), recently announced aggressive enforcement-related activities in an ongoing DFS investigation designed to stop supposedly unlawful...more