Following today’s announcement by Superior Plus Corp. that it would abandon plans to acquire Canexus Corporation, the Director of the Federal Trade Commission’s Bureau of Competition, Debbie Feinstein, said: “The abandonment of this transaction means that Superior and Canexus will continue to compete as independent companies, and that is a very good thing for consumers. […]
Monthly Archives: June 2016
Information Technology Risk Examination (InTREx) Program
FIL-43-2016 June 30, 2016 Information Technology Risk Examination (InTREx) Program Printable Format: FIL-43-2016 – PDF (PDF Help) Summary: The FDIC updated its information technology and operations risk (IT) examination procedures to provide a more efficient, risk-focused approach. This enhanced program also provides a cybersecurity preparedness assessment and discloses more detailed examination results using component ratings. […]
Frequently Asked Questions on Identifying, Accepting and Reporting Brokered Deposits
FIL-42-2016 June 30, 2016 Frequently Asked Questions on Identifying, Accepting and Reporting Brokered Deposits Printable Format: FIL-42-2016 – PDF (PDF Help) Summary: The FDIC is finalizing updates to its Frequently Asked Questions (FAQs) regarding identifying, accepting and reporting brokered deposits. In November 2015, the FDIC released for comment proposed updates to the FAQs that were […]
FTC Testifies on Efforts to Stop Fraud Affecting Older Americans Before Senate Judiciary Committee
The Federal Trade Commission highlighted to Congress its multi-faceted approach to protecting older Americans from fraud in testimony today before the Senate Judiciary Committee. Testifying on behalf of the Commission, Lois Greisman, Associate Director of the FTC’s Division of Marketing Practices, described the FTC’s law enforcement efforts that have halted scams that included older Americans […]
FTC Raises Civil Penalty Maximums to Adjust for Inflation
The Federal Trade Commission has approved final amendments to Commission Rule 1.98 that adjust the maximum civil penalty dollar amounts for violations of 16 provisions of law the FTC enforces, as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The Act directs agencies to implement a “catch-up” inflation adjustment based […]
FTC Approves Final Order in Vipvape APEC Cross Border Privacy Rule Case
After a public comment period, the Federal Trade Commission has approved a final order resolving the Commission’s complaint against Very Incognito Technologies, Inc., doing business as Vipvape, alleging that it deceived consumers about its participation in the Asia-Pacific Economic Cooperation (APEC) Cross-Border Privacy Rules (CBPR) system. The settlement was first announced in May 2016. In […]
Volkswagen to Spend up to $14.7 Billion to Settle Allegations of Cheating Emissions Tests and Deceiving Customers on 2.0 Liter Diesel Vehicles
In two related settlements, one with the United States and the State of California, and one with the U.S. Federal Trade Commission (FTC), German automaker Volkswagen AG and related entities have agreed to spend up to $14.7 billion to settle allegations of cheating emissions tests and deceiving customers. Volkswagen will offer consumers a buyback and […]
FTC Requires Ball Corporation to Divest Eight Aluminum Can Plants to Ardagh as a Condition of Acquiring Rexam
Ball Corporation has agreed to sell to Ardagh Group S.A. eight U.S. aluminum can plants and associated assets in order to settle FTC charges that its proposed acquisition of Rexam PLC – worth $8.4 billion when proposed in February 2015 – is likely anticompetitive. According to the complaint, the acquisition would eliminate direct competition in […]
FTC Alerts Telemarketers that TSR Prohibits Certain Payment Methods; Warns Consumers that Use of the Payment Methods Is Illegal
The Federal Trade Commission wants businesses to know about important Telemarketing Sales Rule (TSR) amendments that are now in effect. These changes make it unlawful for telemarketers to use three types of payment methods exploited by con artists and scammers. As of this month, it is illegal for telemarketers to ask consumers to pay for […]
FTC Challenges Proposed Merger of Canadian Chemical Companies Superior Plus Corp. and Canexus Corp
The Federal Trade Commission today filed an administrative complaint charging that the proposed $982 million merger of Canadian chemical suppliers Superior Plus Corp. and Canexus Corp. would violate the antitrust laws by significantly reducing competition in the North American market for sodium chlorate – a commodity chemical used to bleach wood pulp that is then […]