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CPSC Seeks to Hold Former CEO Responsible for Buckyballs® Recall

Last week the Consumer Product Safety Commission (CPSC) obtained an unprecedented ruling when Administrative Law Judge (ALJ) Dean Metry granted leave to name Craig Zucker in an administrative complaint against Maxfield and...more

Governor Signs New Law On Disability Access Complaints

California has been a haven for plaintiffs’ attorneys suing for ADA (American With Disabilities Act) violations because of existing law that provided up to $4000 in statutory damages, along with attorneys fees for every...more

Governor Signs New Law On Disability Access Complaints

California has been a haven for plaintiffs’ attorneys suing for ADA (American With Disabilities Act) violations because of existing law that provided up to $4000 in statutory damages, along with attorneys fees for every...more

Proposed “Safer Consumer Product Regulations”

Draft regulations regarding toxic substances in consumer products were issued for comment by the California Department of Toxic Substances Control (DTSC) on July 27, 2012. Referred to as the “Safer Consumer Product...more

Current Issues in Securities Regulation (Presentation)

In this presentation, FMC's Mark Evans discusses the current issues in the area of Securities Regulation, including whether or not to settle in the face of civil risk, and the protection of elderly investors. Learn more...more

CFPB Announces Senior Staff Changes

On August 28, the CFPB announced several changes to its senior staff, including the departure of Leonard Chanin who has supervised all of the CFPB’s rulemakings as the Assistant Director for Regulations. Replacing Mr. Chanin...more

Lawsuit Against Airline Over Misleading Fees

Companies often charge additional fees that increase the final cost of a product or service. In some industries, such as telecommunications and airlines, fees imposed by the government may be passed on to consumers. In...more

An Uplifting Look into Non-Bank Supervision

Legislation was introduced in Congress August 2, 2012 that would prevent the Federal Reserve from designating nonbanks as systemically significant. This bill is significant, because it in effect prevents the Federal Reserve...more

Measuring Deterrence: How Big a Fine Will Deter Corporate Crime?

The Justice Department takes a lot of flack from the business community for settling civil and criminal cases with large fines and penalties. The recent GlaxoSmithKline settlement of $3 billion underscored an important...more

CFPB’s First Enforcement Action Warns Financial Institutions About Liability for Third Party Activities on their Behalf; Related...

This article by Victoria Holstein-Childress discusses the CFPB’s first enforcement action, announced July 18, 2012, which together with a parallel OCC enforcement action required a major bank to pay $210 million to settle...more

U.S. Consumer Financial Protection Bureau Issues Regulation Protecting Privileged Information from Waiver of Privilege

As discussed in our February 15, 2012, DechertOnPoint “Building Consumer Financial Protection Bureau Relationships,” a significant controversy has arisen as to whether supervised institutions providing privileged information...more

Money Laundering and Regulatory Enforcement Risks for Non-Banks

It is not hard to read the tea leaves when it comes to government criminal and civil enforcement programs. Prosecutors and regulators try to jawbone the industry into compliance by threatening criminal and/or civil...more

CFPB Selects Director for Office of Minority and Women Inclusion

On April 30, the CFPB announced the appointment of Stuart Ishimaru as Director of the CFPB’s Office of Minority and Women Inclusion (OMWI). As we reported, the Dodd-Frank Act required the CFPB and various other federal...more

Bill Illustrates Ils Besetting Corporate Fraud Fund

In 2002, the Legislature enacted AB 55 creating the victims of corporate fraud fund. Since the fund was created, it has collected about $15 million and nearly 800 claims have been submitted. In a devastating article...more

Consumer Financial Protection Bureau Launches Supervision Program for Nonbanks

Consumer Financial Protection Bureau Launches Supervision Program for Nonbanks On January 5, 2012, the United States Consumer Financial Protection Bureau (CFPB) officially began the first federal nonbank supervision...more

State and Federal Agencies Continue to Scrutinize For-Profit Colleges

Last fall, Franczek Radelet reported on the Department of Education’s increased regulations of the for-profit higher education industry. Other state and federal agencies have now joined in scrutinizing the recruitment and...more

The Federal Reserve Begins Regulating Thrift Holding Companies

The Federal Reserve Board took its first steps last week into the world of regulating savings and loan holding companies. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Office of Thrift Supervision,...more

Man Bites Dog: SEC Staff Overrules Congress

Yesterday, Broc Romanek reported in his blog that the Securities and Exchange Commission staff has posted several new Compliance and Disclosure Interpretations with respect to Say-on-Pay. In particular, I noted that the...more

FDA Publicly Releases Guidelines for Park Prosecutions Following FOIA Appeals

The Food and Drug Administration (FDA) advised Ropes & Gray today that it has published its criteria for Park doctrine prosecutions of responsible corporate officers in its Regulatory Procedures Manual. Under United States v....more

SEC Schedules Open Meeting to Discuss Say-on-Pay Proposed Rules and Changes to Accredited Investor Definition

On January 25, the Securities and Exchange Commission will hold an open meeting to discuss, among other matters, whether to adopt rules to implement Section 951 of the Dodd-Frank Wall Street Reform and Consumer Protection...more

SEC Proposes Say-on-Pay Rules

Advisory Votes on Executive Compensation and “Golden Parachute” Compensation, and Frequency of the Executive Compensation Vote The Securities and Exchange Commission (SEC) has proposed rules regarding shareholder advisory...more

Revisiting Your Corporate Bylaws — Now's the Time to Address the Changing Landscape

A number of important regulatory, legislative and market developments over the last two years have made this an ideal time to revisit your corporate bylaws in order to determine whether changes should be made to reflect...more

What Do Your Twitter Stats Really Mean?

To anyone on Twitter, raise your hand if you don’t pay attention to your number of followers. No matter how not vain you claim to be, your follower number is something that tugs oh-so-gently at your consciousness. To those...more

Rule 260.204.9 – What is to be Done (Part II)?

Last August, I wrote about the impact of the Dodd-Frank Act on Rule 260.204.9 in this post. Last Thursday, I attended a meeting called by the Department of Corporations to solicit input from persons with an interest in the...more

Must A Fund’s General Partner Be Registered?

The typical responsibilities of a general partner of an investment limited partnership are to handle the business and administrative aspects of the fund. In return, the general partner is compensated – often, based on a...more

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