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DLA Piper

FTC “Click-to-Cancel” Rule to Take Effect May 14

DLA Piper on

In October 2024, the Federal Trade Commission (FTC) finalized significant updates to the Negative Option Rule, which are slated to take effect on May 14, 2025. A negative option is a contract term under which a buyer agrees...more

Vedder Price

SEC Revokes Enforcement Division's Formal Investigation Authority

Vedder Price on

On March 10, 2025, the SEC voted along party lines to amend SEC regulations in order to rescind the SEC’s delegation of authority to the Director of the Division of Enforcement to issue formal orders of investigation. The SEC...more

Nelson Mullins Riley & Scarborough LLP

New Rule on SEC Delegation of Authority to Director

On March 10, 2025, the U.S. Securities and Exchange Commission (SEC) announced its final rule rescinding the delegation of authority that had allowed the SEC’s Director of the Division of Enforcement’s (“Director”) to “issue...more

Morrison & Foerster LLP

Take it to the Top: The SEC Rescinds Its Delegation to the Enforcement Division to Issue Formal Orders

To issue a subpoena for documents or testimony, Enforcement staff must first obtain a formal order. A formal order authorizes SEC staff “to administer oaths and affirmations, subpoena witnesses, compel their attendance, take...more

Ballard Spahr LLP

SEC Curtails Enforcement Leadership’s Investigation and Subpoena Power, Signals Greater Commissioner Oversight Over Enforcement

Ballard Spahr LLP on

On Monday, March 10, 2025, the SEC announced a new final rule revoking the Director of Enforcement’s previous authority to issue formal orders, which have the effect of officially initiating investigations and permitting...more

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