FTC Crackdown Stops Operations Responsible for Billions of Illegal Robocalls

Four separate operations responsible for bombarding consumers nationwide with billions of unwanted and illegal robocalls pitching auto warranties, debt-relief services, home security systems, fake charities, and Google search results services have agreed to settle Federal Trade Commission charges that they violated the FTC Act and the agency’s Telemarketing Sales Rule (TSR), including its Do Not […]

FTC Seeks to Examine the Privacy Practices of Broadband Providers

The Federal Trade Commission issued orders to seven U.S. Internet broadband providers and related entities seeking information the agency will use to examine how broadband companies collect, retain, use, and disclose information about consumers and their devices. The orders seek information about the companies’ privacy policies, procedures, and practices. The orders were sent to: AT&T Inc., […]

Direct Lending Investments, LLC

Litigation Release No. 24432 / March 25, 2019 Securities and Exchange Commission v. Direct Lending Investments, LLC, No. 2:19-cv-02188 (C.D. Cal. filed March 22, 2019) On March 22, 2019, the Securities and Exchange Commission charged registered investment adviser Direct Lending Investments, LLC with a multi-year fraud that resulted in approximately $11 million in over-charges of […]

FTC Announces Agenda for Privacy Hearing, the 12th Session of the FTC’s Hearings on Competition and Consumer Protection in the 21st Century

The Federal Trade Commission announced the agenda for the 12th session of its Hearings Initiative, which will occur on April 9-10, 2019 and focus on the FTC’s approach to consumer privacy. FTC Chairman Joe Simons will deliver opening remarks to kick-off the two-day session. Commissioners Noah Joshua Phillips and Rebecca Kelly Slaughter will also deliver […]

FTC Signs Memorandum of Understanding with United Kingdom’s Competition and Markets Authority to Strengthen Consumer Protection Enforcement Cooperation

The Federal Trade Commission has signed a memorandum of understanding with the United Kingdom’s Competition and Markets Authority (CMA) to strengthen enforcement cooperation on consumer protection matters. The MOU was signed by FTC Chairman Joe Simons and the CMA Chairman, the Rt. Hon. Lord Tyrie. It supersedes a previous agreement between the FTC and U.K. […]

FTC Hearings on Competition and Consumer Protection in the 21st Century Continue with Discussion of the FTC’s Role in a Changing World

What: The Federal Trade Commission will host the 11th session of its Hearings on Competition and Consumer Protection in the 21st Century. When: Monday, March 25, 9:00 a.m. – 5:15 p.m., and Tuesday, March 26, 9:00 a.m. – 4:45 p.m. Where: FTC Headquarters600 Pennsylvania Avenue, NW, Washington, DC 20580Room 432The event is free and open […]

Carol Ann Pedersen

Litigation Release No. 24430 / March 20, 2019 Securities and Exchange Commission v. Carol Ann Pedersen, No. 19-cv-2069 (C.D. Cal. filed March 20, 2019) The Securities and Exchange Commission today charged a Long Beach, Calif. investment adviser with stealing millions of dollars from investors to perpetrate a Ponzi scheme. The SEC alleges that Carol Ann […]

Frank Morelli III and Louis Buonocore

Litigation Release No. 24429 / March 20, 2019 Securities and Exchange Commission v. Frank Morelli III and Louis Buonocore, Civil Action No. 15-CV-13396 (D. Mass. Sept. 21, 2015) United States v. Frank Morelli III, Criminal Action No. 14-cr-00129-JCJ (E.D.PA. March 17, 2014) United States v. Louis Buonocore, Criminal Action No. 15-cr-10272-LTS (D. Mass. Sept. 21, […]

Rhode Island Commerce Corporation (f/k/a Rhode Island Economic Development Corporation), et al.

Litigation Release No. 24428/ March 20, 2019 Securities and Exchange Commission v. Rhode Island Commerce Corporation (f/k/a Rhode Island Economic Development Corporation), et al., No. 1:16-cv-107 (D.R.I. filed Mar. 7, 2016) A federal court has ordered Wells Fargo Securities to pay more than $800,000 in civil penalties for disclosure failures associated with a municipal bond […]

Supervisory Insights Journal

FIL-13-2019 March 20, 2019 Supervisory Insights Journal Winter 2018 Issue Now Available Printable Format: FIL-13-2019 – PDF (PDF Help) Summary: The Winter 2018 issue of Supervisory Insights features an article of interest to examiners, bankers and supervisors. “Transitions in Financial Instrument Reference Rates” examines the future of, and alternatives to, the London Inter-bank Offered Rate […]