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FTC Testifies on Data Security before Senate Banking Subcommittee

In testimony before a U.S. Senate Banking subcommittee, the Federal Trade Commission updated Congress on the agency’s ongoing efforts to promote data security through civil law enforcement, education, and policy initiatives.

Testifying on behalf of the Commission before the Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on National Security and International Trade and Finance, Bureau of Consumer Protection Director Jessica Rich told lawmakers that hackers and others seek to exploit vulnerabilities in order to obtain consumers’ sensitive information and potentially misuse it.

“Data security is of critical importance to consumers. If companies do not protect the personal information they collect and store, that information could fall into the wrong hands, resulting in fraud and other harm,” the testimony states.

The testimony notes that, to promote data security, the FTC enforces several statutes and rules that impose obligations upon businesses that collect and maintain consumer data. These include the proscription against unfair or deceptive acts or practices in Section 5 of the FTC Act; the Gramm-Leach-Bliley Act; the Fair Credit Reporting Act; and the Children’s Online Privacy Protection Act.

Since 2001, FTC has used its authority to bring cases against businesses that it charged with failing to provide reasonable protections for consumers’ personal information, the testimony states. Last week, the agency announced it had reached a milestone with its 50^th data security settlement. GMR Transcription Services, Inc., a medical transcription company, agreed to settle FTC charges that it that had unreasonable data security measures, exposing the personal information of thousands of consumers on the Internet.

“In each of these cases, the Commission has examined a company’s practices as a whole and challenged alleged data security failures that were multiple and systemic,” the testimony states.

The testimony also outlines policy initiatives the FTC has undertaken to promote privacy and data security. The agency encourages companies to provide reasonable data security by following certain key principles. These include: knowing what consumer information they have; limiting the information they collect and retain; assessing risks and implementing protections for the information they maintain; properly disposing of information that they no longer need; and having a plan in place to respond to security incidents.

The testimony states that the FTC also is committed to promoting better data security practices through consumer education and business guidance. On the consumer education front, the Commission sponsors OnGuard Online, a website designed to educate consumers about basic computer security, as well as its Spanish-language counterpart Alerta en Línea. For consumers who may have been affected by the recent Target and other breaches, the FTC posted information online about steps they should take to protect themselves.

The FTC also widely disseminates a business guide on data security, along with an online tutorial, that are designed to provide diverse businesses –especially small businesses – with practical, concrete advice as they develop data security programs and plans for their companies, the testimony notes.

Finally, the testimony points out the FTC’s long history of working closely with federal and state agencies, as well as the private sector, to promote privacy and data security. The agency works with state Attorneys General to coordinate investigations and leverage its resources. It also has worked with criminal law enforcement agencies, such as the Federal Bureau of Investigation and Secret Service, that prosecute identity thieves, fraudsters, and other criminals.

“The FTC remains committed to promoting reasonable security for consumer data and we look forward to continuing to work with Congress on this critical issue,” the testimony states.

The Commission vote approving the testimony and its inclusion in the formal record was 4-0.

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

How to Submit Your Questions Online During FTC’s Biosimilars Workshop

The Federal Trade Commission is hosting a workshop on competition issues surrounding biologics and follow-on biologic medicines on Feb. 4, 2014, in Washington, DC, and invites live webcast viewers to submit questions to moderators online. Staff will live-tweet the workshop, and take questions via Twitter, Facebook, and email.

Biologic medicines comprise the fastest-growing sector of pharmaceuticals and target such difficult-to-treat diseases as cancer, diabetes, and multiple sclerosis. Follow-on biologics include both biosimilars and interchangeable biologic products.

FTC Chairwoman Edith Ramirez will provide opening remarks at the workshop. Presenters and panelists will touch on a variety of biosimilars topics including drug regulation, FDA review process, industry and consumer views, laws, and more. A complete agenda for the workshop is now available.

The live webcast will begin at 8:30 a.m. ET. Viewers can submit questions throughout the day via the following channels:

Twitter: Commission staff will tweet workshop highlights from its @FTC account and use the hashtag: #FTCfob.

Facebook: Post questions to the biosimilars comment thread on the FTC’s Facebook page.

Email: Submit questions via email to [email protected].

FTC staff members will do their best to answer as many questions as possible from the audience and online during the workshop.

The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

FTC Puts Conditions on Endo Health Solutions’ Acquisition of Boca Life Science Holdings

Pharmaceutical companies Endo Health Solutions Inc. (Endo) and Boca Life Science Holdings, LLC and Boca Pharmacal, LLC (Boca) have agreed to a settlement resolving Federal Trade Commission charges that Endo’s acquisition of Boca would be anticompetitive. Under the settlement, the companies will relinquish their rights to market and distribute four generic multivitamin fluoride drops for children, and will sell three other generic drugs in development. It is the latest action the FTC has taken to protect U.S. consumers from higher heath care-related costs.

The proposed settlement will preserve competition in the pharmaceutical markets for four prescription generic multivitamin drop products given to children in the United States who do not have access to fluoridated water:

generic multivitamin drops containing 0.25mg fluoride (generic PolyViFlor 0.25mg drops);
generic multivitamin drops containing 0.5mg fluoride (generic PolyViFlor 0.5mg drops);
generic multivitamin drops with 0.25mg fluoride and iron (generic PolyViFlor 0.25mg drops with iron); and
generic multivitamin drops with 0.25mg fluoride and folate (generic TriViFlor 0.25mg drops).

In addition, the FTC’s settlement will preserve future competition for three generic drugs:

generic oral syrup containing brompheniramine maleate (2mg/5ml), dextromethorphan hydrobromide (10mg/5ml), and pseudoephedrine hydrochloride (30mg/5ml) (generic Bromfed-DM), which is used to treat symptoms of the common cold;
generic oral solution containing hydrocodone (10mg/15ml) and acetaminophen (325mg/15ml ) (generic Zamicet), which is used to relieve moderate to severe pain; and
generic acetic acid, glacial (2%) with hydrocortisone (1%) ear drops (generic Vosol HC), which are ear drops prescribed to treat “Swimmer’s Ear.”

According to the FTC’s complaint, Endo’s acquisition of Boca as originally proposed likely would cause U.S. consumers to pay significantly higher prices for these generic drugs. Boca is the exclusive marketer and distributor of the four prescription multivitamin drop products, which are owned and manufactured by Sonar Products, Inc., and competes with Endo in the sale of these products. According to the complaint, the proposed acquisition also would eliminate one likely future entrant from a very limited pool of future entrants in each of the three other generic drug markets.

More information about the market shares of both companies and their competitors can be found in the analysis to aid public comment for this matter.

The proposed consent order requires Boca to return all of its rights to the four multivitamins to Sonar. It also requires Boca to continue distributing the four multivitamins for Sonar for up to six months, to allow Sonar time to find a new marketing and distribution partner to replace Boca.

The proposed order also requires Endo to sell all of its rights and interests in generic Bromfed-DM and generic Zamicet, and Boca’s rights and interests in generic Vosol HC to Rhodes Pharmaceuticals, Inc., within 10 days after the acquisition is completed. Endo and Boca must ensure the viability, marketability, and competitiveness of these three products until they are sold.

To ensure that Endo and Boca comply with the terms of the proposed order, the FTC has appointed Quantic Regulatory Services, LLC to act as an interim monitor until the divestitures have been completed successfully.

Endo, headquartered in Malvern, Pennsylvania, is a global company that develops, produces and markets pharmaceuticals and active pharmaceutical ingredients. Its top-selling products are hydrocodone/acetaminophen tablets, generic Percocet, and the painkiller oxycodone.

Boca, headquartered in Coral Springs, Florida is a specialty drug company that develops and sells generic prescription drugs nationwide. Under an agreement dated August 27, 2013, a subsidiary of Endo, Generics International (US) Inc., proposed to buy Boca for $225 million.

The Commission vote to accept the consent agreement containing the proposed consent order for public comment was 4-0. The FTC will publish a description of the consent agreement package in the Federal Register shortly. The agreement will be subject to public comment for 30 days, beginning today and continuing through March 3, 2014, after which the Commission will decide whether to make the proposed consent order final. Interested parties can submit written comments electronically or in paper form by following the instructions in the “Invitation To Comment” part of the “Supplementary Information” section.

Comments in paper form should be mailed or delivered to: Federal Trade Commission, Office of the Secretary, Room H-113, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. The FTC is requesting that any comment filed in paper form near the end of the public comment period be sent by courier or overnight service, if possible, because U.S. postal mail in the Washington area and at the Commission is subject to delay due to heightened security precautions. Comments also can be submitted electronically.

NOTE: The Commission issues an administrative complaint when it has “reason to believe” that the law has been or is being violated, and it appears to the Commission that a proceeding is in the public interest. When the Commission issues a consent order on a final basis, it carries the force of law with respect to future actions. Each violation of such an order may result in a civil penalty of up to $16,000.

The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., N.W., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

FTC Puts Conditions on Thermo Fisher Scientific Inc.’s Proposed Acquisition of Life Technologies Corporation

Thermo Fisher Scientific Inc. (Thermo Fisher), a leading manufacturer of products used in scientific research, has agreed to sell assets to GE Healthcare to settle Federal Trade Commission charges that its proposed $13.6 billion acquisition of Life Technologies Corporation (Life) would likely substantially lessen competition.

The FTC complaint challenging the transaction alleges that the deal, as it was originally proposed, would have eliminated close competition between Thermo Fisher and Life and substantially increased concentration in the markets for short/small interfering ribonucleic acid (siRNA) reagents, cell culture media, and cell culture sera, enabling the combined firm to raise prices and reduce quality for consumers.

Thermo Fisher, headquartered in Waltham, Massachusetts, is a leading global manufacturer and distributor of scientific products and laboratory equipment and consumables. It supplies siRNA reagents under its Dharmacon brand, and cell culture media and sera under its HyClone brand.

Headquartered in Carlsbad, California, Life manufactures and supplies a wide range of laboratory equipment and consumables to customers worldwide. Life sells siRNA reagents under its Ambion brand, and cell culture media and sera under its Gibco brand. Pursuant to an agreement signed on April 14, 2013, Thermo Fisher proposed to acquire Life for approximately $13.6 billion.

The FTC identified three relevant product markets in which the transaction likely would have harmed competition:

siRNA reagents. siRNA reagents are used to study gene function by selectively turning off, or “silencing,” gene expression and inhibiting protein synthesis. Scientists use siRNA reagents for studying the cause of disease, conducting genetic research, and in connection with agricultural research and crop production. Customers can buy siRNA reagents either individually or in “libraries,” which are curated collections of reagents used to study gene silencing and its effect on groups of interrelated genes.

Cell culture media. Cell culture media are mixtures of ingredients, including salts, sugars, amino acids, and vitamins, which create an environment conducive to growing cells outside the body.

Cell culture sera. Cell culture sera are liquids derived from animal blood that are rich in nutrients and growth factors. Scientists use serum as a supplement to cell culture media to propagate the growth of mammalian cells. Serum is most commonly a byproduct of the cattle industry. The most common variety of cell culture serum is fetal bovine serum, which is preferred by scientists and researchers due to its high quality and low contamination risk.

According to the FTC’s complaint, aside from Thermo Fisher and Life, there are few meaningful competitors in these three relevant markets. Moreover, the two merging companies are particularly close competitors in each relevant market, and because they are difficult markets to enter, the deal as proposed would likely substantially lessen competition in each market. The FTC alleges that the combined company would have a share of more than 50 percent of the worldwide market for individual siRNA reagents, and greater than 90 percent of the market for siRNA reagent libraries. Post-acquisition, Thermo Fisher would have at least a 50 percent share of the worldwide market for cell culture media, and 60 percent of the market for cell culture sera.

More information about market shares and entry conditions in each relevant market can be found in the analysis to aid public comment for this matter.

The proposed order settling the FTC’s charges requires Thermo Fisher to divest its gene modulation business Dharmacon, which contains the siRNA reagents business, as well as its cell culture media and sera business including the HyClone brand to GE Healthcare, along with all intellectual property and know-how necessary to operate each of the divested businesses. GE Healthcare, which is headquartered in the United Kingdom, has the experience, reputation, and resources to maintain the benefits of competition that otherwise would have been lost as a result of the acquisition.

International Cooperation

Competition enforcement agencies around the world reviewed this transaction. Throughout the investigation, Commission staff cooperated with antitrust agencies in Australia, Canada, China, the European Union, Japan, and Korea, often working closely with the staff of these agencies on the analysis of the proposed transaction and potential remedies to reach outcomes that benefit consumers in the United States. For example, the Commission and the European Commission approved GE Healthcare as the divestiture buyer on the same day. The FTC acknowledges the exemplary work done by all agencies, which led to compatible approaches on a global scale.

The Commission vote to accept the agreement containing the proposed consent order for public comment was 4-0. The FTC will publish a description of the consent agreement package in the Federal Register shortly. The agreement will be subject to public comment for 30 days, beginning today and continuing through March 3, 2014, after which the Commission will decide whether to make the proposed consent order final. Interested parties can submit written comments electronically or in paper form by following the instructions in the “Invitation To Comment” part of the “Supplementary Information” section.

The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., N.W., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

Provider of Medical Transcript Services Settles FTC Charges That It Failed to Adequately Protect Consumers’ Personal Information

A company that provides medical transcription services has agreed to settle Federal Trade Commission charges that its inadequate data security measures unfairly exposed the personal information of thousands of consumers on the open Internet, in some instances including consumers’ medical histories and examination notes.

In its complaint against California-based GMR Transcription Services, Inc. and the company’s two principal owners, the FTC alleges that GMR hired contractors to transcribe audio files received from the company’s customers. The contractors downloaded the files from the company’s network, transcribed them, and then uploaded transcripts back to the network. GMR then made the transcripts available to customers either directly or by e-mail.

Because of inadequate security, the complaint alleges, medical transcript files prepared between March 2011 and October 2011 by Fedtrans, GMR’s service provider, were indexed by a major internet search engine and were publicly available to anyone using the search engine. Some of the files contained notes from medical examinations of children and other highly sensitive medical information, such as information about psychiatric disorders, alcohol use, drug abuse, and pregnancy loss.

The FTC’s consent order with GMR marks the 50^th data security case the Commission has settled since undertaking its data security program 12 years ago. The Commission issued a statement today reaffirming the basic principles behind the FTC’s data security enforcement program.

“What started in 2002 with a single case applying established FTC Act precedent to the area of data security has grown into a vital enforcement program that has helped to increase protections for consumers and has encouraged companies to make safeguarding consumer data a priority,” the Commission statement says.

In the case of GMR, the files handled by the company included sensitive information about consumers, including their driver’s license numbers, tax information, medical histories, notes from children’s medical examinations, medications and psychiatric notes, according to the FTC’s complaint.

According to the complaint, GMR’s privacy statements and policies promised that “materials going through our system are highly secure and are never divulged to anyone.” However, the company never required the individual typists it hired as contractors to implement security measures, such as installing anti-virus software. In addition, an independent service provider GMR hired to transcribe medical files stored and transmitted the files in clear and readable text on a server that was configured so that they could be accessed online by anyone without authentication.

Under the terms of GMR’s settlement with the FTC, GMR and its owners are prohibited from misrepresenting the extent to which they maintain the privacy and security of consumers’ personal information. They also must establish a comprehensive information security program that will protect consumers’ sensitive personal information, including information the company provided to independent service providers. In addition, the company must have the program evaluated both initially and every two years by a certified third party. The settlement will be in force for the next 20 years.

The Commission vote to accept the consent agreement package containing the proposed consent order for public comment was 4-0. The Commission vote to issue the statement also was 4-0. The FTC will publish a description of the consent agreement package in the Federal Register shortly. The agreement will be subject to public comment for 30 days, beginning today and continuing through March 3, 2014, after which the Commission will decide whether to make the proposed consent order final. Interested parties can submit written comments electronically or in paper form by following the instructions in the “Invitation To Comment” part of the “Supplementary Information” section. Comments in electronic form should be submitted online and following the instructions on the web-based form. Comments in paper form should be mailed or delivered to: Federal Trade Commission, Office of the Secretary, Room H-113 (Annex D), 600 Pennsylvania Avenue, N.W., Washington, DC 20580. The FTC requests that any comment filed in paper form near the end of the public comment period be sent by courier or overnight service, if possible, because U.S. postal mail in the Washington area and at the Commission is subject to delay due to heightened security precautions.

Court Finds Telemarketers in Contempt; Imposes $14.75 Million Judgment

At the request of the Federal Trade Commission, a U.S. district court judge in Florida has issued a contempt order against Bryon Wolf and Roy Eliasson, two key individuals who operated a deceptive marketing scheme since 2009. According to the order, the defendants violated a December 2008 permanent injunction and final order that barred them from making a range of misrepresentations to consumers, billing consumers without their authorization, and failing to make required disclosures in future business endeavors. The contempt order imposes a judgment of $14.75 million against the defendants, which is the amount they illegally took from consumers in their second scheme.

“This pair of defendants showed complete contempt, both for consumers and for a court order,” said Jessica Rich, Director of the Federal Trade Commission’s Bureau of Consumer Protection. “And this action shows that if you violate an FTC order, you’ll pay for that violation. We put orders in place to protect consumers, and we make sure that companies follow them.”

Today’s announcement is the latest example of how the FTC protects American consumers from defendants who are recidivists. The agency monitors every FTC order for compliance, and quickly deals with those wrongdoers who defy its orders. In the last 12 months alone, the FTC successfully tried five contempt cases. The defendants in these actions face tens of millions of dollars in judgments and are banned from various commercial activities.

Case History

In 2007, the FTC sued Suntasia Marketing, Inc., charging the operation with deceptively marketing negative-option programs to consumers nationwide. The defendants allegedly defrauded consumers and charged their bank accounts without their consent for a variety of programs, including memberships in discount buyer’s and travel clubs.

In 2008, 14 defendants agreed to an order settling the FTC’s charges, and were required to pay more than $16 million to provide refunds to defrauded consumers. Bryon Wolf and Roy Eliasson were ordered to pay over $11 million for their role in the scheme, and were barred from a variety of unlawful acts in the future, including misrepresenting material facts regarding an offer, failing to clearly disclose material terms during a sale, and debiting consumers’ accounts without their consent.

But according to the FTC’s motion for contempt, within months of the 2008 order, Wolf and Eliasson devised a new plan to defraud consumers through Membership Services, LLC, a firm they controlled. In this scheme, they used deceptive phone and internet solicitations to target recent loan applicants and misled them into believing they would provide them with cash advances, loans, or lines of credit. Instead, the defendants debited the consumers’ accounts for membership in a continuity program. Very few consumers used the program, and many cancelled when they found out the defendants had debited their accounts and planned to take additional payments from them in future months.

Based on this conduct, following a two day evidentiary hearing, the court found that the defendants had violated the terms of a court-ordered permanent injunction by engaging in some of the same kinds of deceptive tactics that led to the FTC’s prior case against them.

According to the court, while the defendants sent messages to consumers communicating they had been “approved” for a loan, none of them ever received a loan. Instead, many of their bank accounts were debited $49.95 or more a month after they provided their financial information to the defendants.

Information for Businesses and Consumers

The FTC has developed two new blog posts to help provide businesses and consumers with information about specific types of telemarketing fraud and how to avoid it. They are called (Con)tempting Fate and An Online Payday Loan Or Window to a Scam?

The contempt order was entered by the court on January 13, 2014, in the U.S. District Court for the Middle District of Florida, Tampa Division.

Registration of Municipal Advisors – Final Rule

FIL-6-2014
January 31, 2014

Registration of Municipal Advisors – Final Rule

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FIL-6-2014 – PDF (PDF Help)

Summary:

Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Act), Pub. L. 111-203, amended Section 15B(a) of the Securities Exchange Act of 1934 to make it unlawful for “municipal advisors,” as defined in the Act, to provide certain advice to or solicit municipal entities or certain other persons without registering with the U.S. Securities and Exchange Commission (SEC). On September 20, 2013, the SEC issued a final rule, 17 C.F.R. § 240.15Ba1-1-8, implementing the Act and establishing a permanent registration system for municipal advisors. In a separate release, the SEC extended the expiration date of the temporary registration system under Rule 15Ba2-6T until December 31, 2014, to provide a transition period between the temporary and permanent registration systems. The final rule is effective on July 1, 2014.

Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter applies to any FDIC-supervised financial institution that meets the definition of “municipal advisor.”

Highlights:

“Municipal advisor” is defined as any person who is not a municipal entity or an employee of a municipal entity who provides advice to or on behalf of a municipal entity or obligated person regarding municipal financial products or the issuance of municipal securities.
Banks are not considered municipal advisors to the extent they provide advice concerning:
- Deposit accounts and other deposit instruments;
- Extensions of credit, including the purchase of municipal securities for a municipality’s own accounts;
- Any funds held in a sweep account; or
- Any investment made when acting as an indenture trustee or similar fiduciary capacity.
“Municipal financial products” is defined as municipal derivatives, guaranteed investment products, and investment strategies, including plans and programs for the investment of the proceeds of municipal securities offerings, recommendations, and brokerage of municipal escrow investments.
New municipal advisors whose activities commence before September 30, 2014, must submit an application for temporary registration under Rule 15Ba2-6T.
New municipal advisors whose activities commence after September 30, 2014, must file an application under the permanent registration system provided for in Rule 15Ba1-1-8.
The permanent registration system provides for staggered compliance dates based on the advisor’s temporary registration number.
Municipal advisors registered under the temporary system must register under the permanent system when the permanent registration period begins in July.

Federal Government Launches New System to Gather Complaints From Military Veterans, Servicemembers Regarding Higher Education Institutions

The Federal Trade Commission, in partnership with the Departments of Defense and Veterans Affairs and several other federal agencies, announced a new complaint process to gather input from veterans, servicemembers, and their families pursuing higher education through Post 9/11 GI Bill and other military education benefits.

The FTC, Defense Department and VA have created customized online reporting forms in collaboration with the Department of Justice and the Consumer Financial Protection Bureau that veterans and servicemembers can use to file consumer complaints about education institutions. Students can file complaints with the VA and DoD directly about the cost of attendance, marketing, graduation rates, program quality, employment prospects, and course credit. The Department of Education will take email complaints on these topics.

Complaints will be forwarded from the VA, DoD, and DoE to the FTC’s Consumer Sentinel Network database beginning next month. Sentinel is accessible to over 2,000 law enforcement agencies nationwide. These complaints will help the government identify and address fraudulent and deceptive practices targeted toward servicemembers, veterans and dependents who use military education benefits.

“Veterans should get truthful information when they choose how and where to use their military education benefits. Unfortunately, that may not always be the case,” said Jessica Rich, director, FTC’s Bureau of Consumer Protection. “The FTC is pleased to be part of this effort to streamline the complaint process for veterans and facilitate investigations.”

The FTC recently announced new tips to help servicemembers, veterans, and their families choose a higher education institution that complements their education goals. The guidance and new student complaint process are part of the Improving Transparency of Education Opportunities for Veterans Act of 2012. This act requires the FTC and other agencies to partner with the VA to improve outreach and transparency regarding the quality of instruction, recruiting practices, and post-graduate employment by institutes of higher learning.

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into the Consumer Sentinel Network, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

FTC Approves Franchise Services of North America’s Application to Sell Advantage Rent a Car to The Catalyst Capital Group, Inc.

Following a public comment period, the Federal Trade Commission has approved an application by Franchise Services of North America, Inc. (FSNA) to sell assets it acquired from Hertz Global Holdings, Inc. to The Catalyst Capital Group, Inc. The FTC’s 2012 settlement required Hertz to sell its Advantage rental car business and other assets to a Commission-approved buyer (FSNA) in order to resolve charges that its proposed $2.3 billion acquisition of Dollar Thrifty Automotive Group, Inc. would have been anticompetitive. The FTC’s settlement requires FSNA, for three years, to get the FTC’s approval before selling any of the Advantage assets it acquired.

On November 5, 2013, FSNA through its direct subsidiary Simply Wheelz filed for Chapter 11 bankruptcy protection, and sought to sell Advantage, which has continued to operate during this process. Following a bankruptcy auction held in December 2013, Catalyst was declared the winning bidder for the Advantage assets. The bankruptcy court approved Catalyst’s acquisition of Advantage, subject to FTC approval. The Commission now has approved FSNA’s application to sell the Advantage assets to Catalyst following the public comment period.

The Commission vote approving the application and responses to commenters was 3-0-1, with Commissioner Joshua D. Wright not participating. (FTC File No. 121-0120, Docket No. C-4376; the staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526)

The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

FTC Chairwoman Edith Ramirez Names Public Affairs Director

Federal Trade Commission Chairwoman Edith Ramirez has announced the appointment of Justin Cole as Director of the agency’s Office of Public Affairs.

“I am very pleased to welcome Justin to our leadership team,” Ramirez said. “His knowledge and extensive communications experience will help us to advance the public’s understanding of the important work we do to protect American consumers.”

Cole, who will join the agency on February 10, 2014, has 18 years of experience working in diverse communications-related and media roles. He most recently has served as press secretary for the Chairman of the Federal Communications Commission, providing strategic communications counsel to the Chairman and the agency’s senior leadership team. Cole previously worked as the U.S. corporate communications manager for Tata Communications, and as a deputy editor in Fitch Ratings’ EMEA Corporate Communications Group in London. As a journalist, Cole worked as a business and economics correspondent for the Agence France-Presse (AFP) news agency in Washington, D.C., after starting his reporting career at Dow Jones Newswires in London as an energy journalist. He holds a bachelor’s degree, with honors, in Comparative American Studies from the University of Warwick, U.K.

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Registration of Municipal Advisors – Final Rule

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Summary:

Highlights:

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