News & Analysis as of

Third-Party Service Provider Civil Monetary Penalty

Hinch Newman LLP

Lead Generator Faces Devastating Monetary Penalties for Allegedly Violating Telemarketing Sales Rule

Hinch Newman LLP on

On September 1, 2023, an Illinois federal court ruled in the matter of Federal Trade Commission v. Day Pacer LLC, et al. (N.D. Ill. Sept. 1, 2023) that Day Pacer (f/k/a EduTrek) and company executives violated the...more

Sheppard Mullin Richter & Hampton LLP

NYDFS Examination of Crypto Payment Service Provider Ends in Settlement

On March 16, NYDFS entered a consent order resolving an examination of a payment service provider that allows merchants to accept Bitcoin payments from customers in exchange for the equivalent value in local currency credited...more

BCLP

Banking Bites - June 2022

BCLP on

New High Court case considers nature and scope of the Quincecare duty - In June, the Court of Appeal expanded the scope of a bank’s duty of care to protect its customers from fraud to encompass instructions by those other...more

Williams Mullen

DOJ Policy Restores Settlement Agreements Involving Payments to Non-Governmental Third Parties

Williams Mullen on

Settlement agreements regarding payments to non-governmental third parties were sharply curtailed by the Trump administration. A recent DOJ policy and rulemaking restores the authority for DOJ to enter into settlements...more

Lowenstein Sandler LLP

The FTC Actively Enforcing Truthful Review and Endorsement Practices

Lowenstein Sandler LLP on

Third-Party Review Services are a Focus- On January 25, the Federal Trade Commission announced that Fashion Nova LLC will be prohibited from suppressing customer reviews of its products and required to pay $4.2 million to...more

Husch Blackwell LLP

New York’s DFS Publishes A Cyber Insurance Risk Framework

Husch Blackwell LLP on

Keypoint: New York’s Division of Financial Services (DFS) now requires Property and Casualty Insurers writing cyber insurance to comply with the Division’s Cyber Insurance Risk Framework to manage their risk. In her...more

Sheppard Mullin Richter & Hampton LLP

UK ICO Settles with Marketer Over Unsolicited Email Messages

Grove Pension Solutions Ltd is a UK-based company that helps people get “pension releases,” i.e. getting money out of their pensions. The company uses a vendor to conduct lead generation. That vendor would identify...more

Bracewell LLP

Who Is Watching The Watchmen?: CFTC Penalizes Registrant For Outsourced IT Security Lapses

Bracewell LLP on

On February 12, 2018, the Commodity Futures Trading Commission (CFTC) settled charges against AMP Global Clearing LLC (AMP), a futures commission merchant (FCM), for the company’s failure to adequately supervise one of its IT...more

Downey Brand LLP

DOJ Issues Policy Memo Limiting the Use of Supplemental Environmental Projects in Federal Settlements

Downey Brand LLP on

On June 7, 2017, the United States Department of Justice (DOJ) issued a policy memorandum dated June 5, 2017 that prohibits the allocation of settlement funds to non-governmental, third-party organizations, as a condition of...more

Foley & Lardner LLP

A Compilation of Non-Enforcement and Enforcement Actions

Foley & Lardner LLP on

Non-Enforcement - Mutual Fund Directors Must Be Vigilant in Addressing Risks - In remarks to the Mutual Fund Directors Forum, SEC Chair Mary Jo White outlined some of the risks and challenges that mutual fund...more

WilmerHale

OCC Revises CMP Policy

WilmerHale on

For the first time in over twenty years, the Office of the Comptroller of the Currency (OCC) has formally changed its policy governing civil money penalties (CMP) against national banks, federal savings associations, federal...more

Polsinelli

New Washington Rule Clarifies Authority to Issue Penalties Against TPAs

Polsinelli on

The Washington State Department of Health has promulgated a new rule clarifying the Department's authority to issue civil penalties against health carriers and third-party administrators. This rule, which is outside the...more

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