News & Analysis as of


Recent TPA Regulatory Developments

by Polsinelli on

NEVADA: The Nevada Division of Insurance is in the process of adopting proposed insurance regulation R087-17 (the “Regulation”) which is entitled “Third Party Administrator Parental Guaranty and Notification Requirements.”...more

Judge Leibensperger Orders Cost Shifting on Rule 45 Subpoena

While litigants often invoke Rule 45 to discover documents from third parties during the course of litigation, courts have rarely ordered payment of the fees incurred by the third party to comply with the subpoena. Judge...more

OCIE Releases Risk Alert Regarding the Fees and Expenses that Investment Advisers Charge Clients

by Bracewell LLP on

The Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) recently released a Risk Alert that highlights the most common compliance deficiencies relating to fees and expenses...more

Overlooked Changes To Patent Cooperation Treaty Practice - Law360

The recent Actelion Pharmaceuticals Ltd. case brought to light a little-known quirk in how national stage patent applications affect the length of one’s patent term. That case involved a drug company losing five days of...more

The FTC Shines the Light on Hidden Fees and Hidden Disclosures: A Cautionary Tale for Advertisers

Surely we have all seen those television and online ads promising “no hidden fees” on services. It seems to have become the norm, as banks, mortgage lenders, and other businesses compete to lure consumers, using the promise...more

Consumer Financial Services Spring 2018 Update

District Court Takes Expansive View of Deceptive or Misleading Practices under FDCPA - The FDCPA prohibits a debt collector from using "any false, deceptive, or misleading representation" in connection with the collection...more

Notice To Wisconsin Community Association & Property Managers

by Husch Blackwell LLP on

As a result of the new legislation that passed, in three different bills, for each of your condominium associations you need to deal with the following:-...more

OCIE Issues Risk Alert Regarding Adviser Fees and Expenses

On April 18, 2018, the Office of Compliance Inspections and Examinations (the “OCIE”) released a Risk Alert on the most frequent compliance issues relating to advisory fees and expenses. As a general matter, the OCIE...more

Arizona Amends Application Fees for Financial Institutions and Enterprises

by Weiner Brodsky Kider PC on

Arizona Senate Bill 1150 amends Section 6-126 of the Arizona Revised Statutes as they relate to application fees for financial institutions and enterprises regulated by the Arizona Department of Financial Institutions. ...more

Virginia Amends Provisions Regarding the Surrender of Notary Fees to Employers

by Weiner Brodsky Kider PC on

Virginia recently passed House Bill 1343, which permits an employer to require that its notary employees surrender any fees charged for a notarial act to the employer when the act was performed during the course of the...more

Enforcing a Breakup Fee in a Financing Term Sheet

A case this past year, White Winston Select Asset Funds, LLC v. Intercloud System, Inc. (D.N.J. Oct. 3, 2017), addressed the enforceability of a breakup fee provision in a term sheet for second lien financing. ...more

Transparency and Accuracy: Observations from the SEC Risk Alert on Fee and Expense Deficiencies

by K&L Gates LLP on

In a recent risk alert (“Risk Alert”) issued by the Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”), OCIE Staff summarized the most frequent fee and expense deficiencies...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Some inside baseball on how Sprint and T-Mobile are likely to try to convince suspicious regulators that their merger is a good thing. Hint: it has a lot to do with China and 5G....more

Understanding the Regulatory Concerns of Cryptocurrency Exchange Registration

by Holland & Knight LLP on

• Coinbase, one of the largest cryptocurrency exchanges, recently approached the U.S. Securities and Exchange Commission (SEC) about possible licensing as a broker-dealer. If Coinbase decides to register with the SEC, it will...more

SEC Staff Issues Risk Alert on the Six Most Frequent Fee and Expense Compliance Issues

by Proskauer Rose LLP on

On April 12, 2018, the SEC's Office of Compliance Inspections and Examinations ("OCIE") issued a risk alert listing the most common compliance issues concerning fees and expenses charged by SEC-registered investment advisers....more

OCIE Risk Alert Highlights the Most Frequent Adviser Fees and Expenses Deficiencies

by Dorsey & Whitney LLP on

On April 12, 2018, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) released a Risk Alert identifying the most frequently cited compliance deficiencies relating to fees and expenses charged by SEC...more

Investment Adviser Fee Table on the Table

by Carlton Fields on

On February 7, the Massachusetts Securities Division asked for public comment on a fee table requirement for Massachusetts-registered investment advisers....more

SB 2 Recording Fees: State Clarifies Exemptions - California and its Cities, Counties and Other Political Subdivisions May be Due...

by Best Best & Krieger LLP on

The State of California, as well as cities, counties and other political subdivisions in the State, are officially exempt from paying a recently enacted $75 fee for document recording. This clarification came with the passage...more

Comments Due Soon on Latest Proposed Changes to DC Water System Availability Fees - Public Comments Also Sought on Proposed Sewer...

by Holland & Knight LLP on

• Proposed changes to the District of Columbia Water and Sewer Authority's System Availability Fee (SAF) regulations would provide developers credits for providing new affordable housing units. • Proposed sewer service...more

First Round of Robo-Advisor Fee Litigation Goes to Record-Keepers

Since 2016, record keepers for large 401(k) plans have been defending litigation over investment advice provided by the Financial Engines investment advice algorithm. (This kind of arrangement is commonly referred to as...more

Florida Prohibits Fees for Security Freezes on Consumer Reports

by Weiner Brodsky Kider PC on

Florida recently amended its provisions governing the fees consumer reporting agencies can charge to a consumer for placing, removing, or temporarily lifting a security freeze on their consumer report. The amendments take...more

Second Circuit Seeks to Provide Clarity as to Interest Disclosure

The Seventh Circuit recently joined the Fourth and Ninth Circuits in holding that a debt collection discharges its obligation as to debt validation by verifying that its letters accurately conveyed the information received...more

Investment Funds Update Europe - Legal and regulatory updates for the funds industry from the key asset management centres and...

by Dechert LLP on

BaFin Publishes Interpretative Notice Regarding the Qualification of Tokens and Cryptocurrencies Offered Through Initial Coin Offerings to Investors - BaFin published its new interpretative notice on 20 February regarding...more

Unclear Billing Charges Violate FCC Truth-in-Billing Rules and the Act

by Womble Bond Dickinson on

The FCC has issued a Declaratory Ruling in response to a petition filed by parties involved in litigation over a billing dispute, declaring that unclear billing information violates the FCC’s Truth-in-Billing rules and the...more

New Fee Charging Structure to Fund the UK Information Commissioner’s Office

by Hogan Lovells on

The UK Government has announced a new three-tier charging structure for data controllers to ensure the continued funding of the Information Commissioner’s Office (ICO) to come into effect on 25 May 2018 to coincide with the...more

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