Nearly fifteen months after Colorado voters approved the Natural Medicine Health Act, the public got its first glimpse of draft rules that will govern the regulated psychedelics program created by the Act. In February’s...more
The Delaware Court of Chancery is striking back against “new wave” stockholder agreements, which feature stockholder preapproval rights and board restrictions, rather than covenants among stockholders regarding traditional...more
The ruling calls into question the enforceability of common provisions contained in private and public company stockholder agreements. The Court invalidated certain governance rights in stockholder agreements because they...more
A few days ago, the Israel Competition Authority’s Director General announced she had reached an agreement with Meta Platforms Inc. (owner of Facebook and Instagram). Under the agreement, Meta undertook to pay the State...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Google Sued by States and U.S. DOJ over Alleged...more
The FTC finalized a consent order with credit services company Credit Karma, LLC to resolve allegations that the company violated the FTC Act by misrepresenting to consumers that they have been “pre-approved” for third-party...more
Employers that provide 401(k) plans on documents that have been “pre-approved” by the Internal Revenue Service (IRS) beware: there is yet another annual notice requirement that may need to be added to your compliance list!...more
The legislation previously introduced as the Pre-Approval Information Exchange Act of 2022 ( “PIE Act”) was passed as part of Congress’s December 23, 2022 omnibus spending bill. Once signed into law, this legislation will...more
Regulatory Announcements- FTC Holds September Open Commission Meeting and Votes to Approve Government and Business Impersonation Fraud NPRM, Gig Work Policy Statement, and Dark Patterns Report. On September 15, the FTC held...more
On September 1, the FTC issued an administrative complaint and consent order alleging that a credit services company harmed consumers by making false claims of “pre-approved” credit offers, enticing many consumers to apply...more
The federal banking regulators have guidance in place regarding the advertising of credit pre-approvals, and, of course, Regulation Z and the Truth In Lending Act have provisions regarding how and when a pre-approval can be...more
For the many employers that use a pre-approved 401(k) plan (or another type of defined contribution plan), the deadline to execute a restatement of the plan was July 31, 2022. An employer that missed the deadline will need...more
On October 25, 2021, a deeply divided FTC voted 3-2 to enact a major policy change relevant to every party involved in settling a merger investigation with the FTC. Earlier this year, the FTC signaled its intent to bring back...more
The US Federal Trade Commission (FTC or Commission) has announced a new policy to dramatically expand its use of prior approval orders in merger transactions. On October 25, the FTC issued a policy statement (Statement) under...more
On October 25, 2021, the Federal Trade Commission (FTC or Commission) adopted a new policy requiring merging parties that enter into settlements to resolve competition concerns to give the FTC veto power over future deals in...more
The Consumer Financial Protection Bureau (“CFPB”) reached a settlement with reverse-mortgage lender Nationwide Equities Corporation (“Nationwide Equities”) to resolve allegations that it used false and misleading advertising...more
On Wednesday, April 14, 2021, the US Food and Drug Administration (FDA) published a long-awaited final guidance document explaining its policy for conducting remote “evaluations” during COVID-19. According to the guidance,...more
Previously we posted on our blog about a deadline looming in the distance for 403(b) plan sponsors to adopt a pre-approved plan document. Now that 2020 has arrived, the deadline is just around the corner and imminent action...more
AMGEN INC. v. HOSPIRA, INC. Before Moore, Bryson, and Chen. Appeal from the United States District Court for the District of Delaware. Summary: Biological engineering activity that would otherwise constitute patent...more
On 1 August 2019, few months after enacting the PACTE Law that strengthened the foreign investments control mechanism, France passed a new law (n° 2019-810) aimed at preserving the interests of French defense and national...more
There continues to be new, complicated problems arising from the improper completion and use of off-the-shelf governmental pre-approval plans. Generally, a pre-approved plan from the document provider is reviewed and...more
Employers sponsoring 403(b) plans should be aware that we are nearing the deadline for adopting a pre-approved 403(b) plan that provides relief for any documentary noncompliance back to January 1, 2010 (or, if later, the...more
CYBERSECURITY - Cyber Fraud Cost $1.4 Billion in 201 - The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) recently released its yearly internet crime report, which states that over 300,000...more
The US Treasury will soon be $205,000 richer due to the payment of a civil penalty by American Transmission Company (ATC) related to violations of sections 203 and 205 of the Federal Power Act. ATC’s compliance failure stems...more