News & Analysis as of

Enforcement Actions

AML Beneficial Ownership Register for Irish Funds – Who’s Holding the Baby?

by Dechert LLP on

If you’ve been involved in the funds industry, you will be well aware of the ever-increasing focus on anti-money laundering and “know your customer” requirements by national and supranational regulatory bodies alike. In...more

Eisinger and Pelletier Talk About The Chickenshit Club

by Thomas Fox on

Yesterday I posted a book review of Jesse Eisinger’s book The Chickenshit Club. I also posted a podcast of an interview I did with Eisinger and Paul Pelletier, a partner at Pepper Hamilton, who was a source in the book. The...more

FTC Takes Hard Line on Social Media Endorsements: Disclose, Disclose, Disclose... (It Matters Given Growing Reliance on Social...

The Federal Trade Commission (FTC) has unequivocally signaled this month that compliant endorsements on social media remain a high priority for this US consumer protection agency because endorsements carry weight and affect...more

Senate Democrats Introduce “Better Deal” Antitrust Enforcement Legislation

As part of the effort to rebrand the party and reconnect with working-class voters who were lost in the presidential election, congressional Democrats revealed a new populist policy agenda, titled “A Better Deal: Better Jobs,...more

Book Review: The Chickenshit Club

by Thomas Fox on

To my mind the most significant and important book that every Chief Compliance Officer (CCO), General Counsel (GC) and compliance practitioner needs to read is The Chickenshit Club by Pulitzer Prize winning journalist Jesse...more

SFC Obtains Disqualification and Court Orders Against Hanergy’s Former Chairman and Current Directors

by Latham & Watkins LLP on

The Court of First Instance’s decision has important implications for directors of listed companies when failing to act in the best interests of the company. Background - On July 15, 2015, the Securities and Futures...more

VA AG Sues Open-End Credit Plan Lender

by Goodwin on

On September 13, 2017, Virginia Attorney General (“Virginia AG”) Mark R. Herring announced that it had filed suit in Virginia state court against an open-end credit plan lender for allegedly violating the Virginia Consumer...more

CFPB Secures $7.9 Million Trial Verdict Against Mortgage Loan Servicer

by Goodwin on

On September 8, a federal judge in California ordered a national mortgage services company to pay a $7.9 million civil penalty based on false or misleading marketing statements it allegedly made to consumers about its...more

The Latest Influencer Advertising Tips from the FTC – When, How & Where to Make Effective Disclosures

by Dorsey & Whitney LLP on

As we blogged about earlier this month, the FTC seems to have spent much of its summer checking out influencer advertising and focusing its attention on those who fail to make the necessary disclosures of material connections...more

FTC Announces First Privacy Shield Enforcement Actions

by Alston & Bird on

The Federal Trade Commission recently announced that it had settled charges against three companies alleged to have falsely claimed participation in Privacy Shield. Privacy Shield supports EU – U.S. transfers of personal data...more

Wastewater Enforcement: Arkansas Department of Environmental Quality and Garland County School Districts Enter into Consent...

The Arkansas Department of Environmental Quality (“ADEQ”) and Jessieville School District and Fountain Lake School District (collectively, “District”) entered into an August 30th Consent Administrative Order (“CAO”)...more

SEC Files Two Cherry Picking Actions, Aided by Statistical Analysis

by Dorsey & Whitney LLP on

The Commission has continued to use statistical analysis to bolster its enforcement claims. One area in which this has been done is “cherry picking” cases....more

Claiming Privacy Shield Participation on Your Website? Lessons from the FTC’s First Privacy Shield Enforcement Action

by Kelley Drye & Warren LLP on

The Federal Trade Commission recently announced settlements with Decusoft, LLC, Tru Communication, Inc. (doing business as TCPrinting.net), and Md7, LLC, resolving allegations that the companies misrepresented their...more

Equifax Breach: Three Takeaways from the First Four Days

by Mintz Levin on

On September 7, 2017, Equifax, one of the three large credit reporting bureaus, announced a cybersecurity incident impacting approximately 143 million U.S. consumers. According to Equifax, the breach occurred mid-May through...more

Washington State AG Alleges Price Fixing and Sues to Break Up Rapidly Expanding Health System

by Mintz Levin on

After five years of growth through a series of acquisitions, the Washington State Attorney General’s office filed a lawsuit to thwart and unwind the most recent expansion efforts of Franciscan Health System (“CHI Franciscan”)...more

SEC Focuses on Initial Coin Offerings: Tokens May Be Securities Under Federal Securities Laws

by Dechert LLP on

The U.S. Securities and Exchange Commission (SEC) has recently taken several actions to make clear that it is focused on and actively monitoring the rapidly growing market for so-called “token sales” or “initial coin...more

Federal Trade Commission Reaffirms Commitment to Enforce EU-US Privacy Shield

by Dechert LLP on

The U.S. Federal Trade Commission (FTC) recently settled enforcement actions against three companies accused of misleading consumers about their participation in the European Union-United States Privacy Shield framework,...more

A Client's Guide to FDA Inspections

A Food and Drug Administration (FDA) inspector has just knocked on your door and announced that he or she will now inspect your facility. What happens before, during and after this inspection, and what should your firm do to...more

Key New Takeaways from Uber’s Privacy and Data Security Settlement with the FTC

On August 15, 2017, the Federal Trade Commission (FTC) announced that it had reached an agreement with Uber Technologies to settle allegations that the ride-sharing company had deceived consumers by failing to live up to its...more

SEC Sanctions Adviser For Failing To Follow Its Procedures

by Dorsey & Whitney LLP on

It is axiomatic that investment advisers are required to the follow dictates of firm operating documents, internal procedures and disclosed policies and procedures. OCIE, when conducting inspections, focuses on such issues....more

FTC Cracks Down on Lead Generation Company’s Indiscriminate Sharing of Consumers’ Sensitive Data

On July 3, 2017, the Federal Trade Commission (FTC) announced that it had settled charges that defendants Blue Global, an operator of dozens of consumer loan lead generation websites, and its founder and CEO, Christopher Kay,...more

Hello, Dolly: What You Need to Know About Connected Smart Toys and Privacy

As connected devices become ubiquitous, it comes as no surprise that interactive toys that connect to the internet are more popular than ever. At the same time, regulators have taken note of the privacy and security concerns...more

SEC ALJs Before the Supreme Court: Will the Court Take The Issue?

by Dorsey & Whitney LLP on

The validity of the SEC ALJs’ under the Constitution’s Appointments Clause is a critical issue the Supreme Court is considering for addition to its docket this term which will begin on the first Monday in October. Petition...more

CFPB Enters Consent Order with Lead Aggregator For Steering Consumers to Illegal Loans

by Goodwin on

On September 6, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a lead aggregator over claims the aggregator steered consumers towards lenders who offered...more

The FTC Throws Shade at Influencer Bruhs Who Failed to Disclose Material Connections

by Dorsey & Whitney LLP on

We blogged last week about the FTC’s triple play against deceptive influencer advertising. In one prong of the initiative, the FTC announced that its staff had sent 21 follow-up warning letters to influencers, asking them to...more

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Cybersecurity

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