President Trump and his administration filed a response to a lawsuit claiming that the President went beyond his presidential authority in firing two Federal Trade Commission members without cause. The foundation of President Trump’s response is that the President is allowed to remove “all those who aid the President in Read More
The European Union announced that it fined Apple and Meta €500 million ($568 million) and €200 million ($227 million), respectively after it found that Apple breached its anti-steering obligation under the Digital Markets Act (DMA), and that Meta breached the DMA obligation to give consumers the choice of a service Read More
The Federal Trade Commission filed a lawsuit against Uber, alleging the rideshare and delivery company charged consumers for its Uber One subscription service without their consent, failed to deliver promised savings, and made it difficult for users to cancel the service despite its “cancel anytime” promises. According to the FTC, Read More
The Senate confirmed Paul Atkins as chair and leader of the Securities Exchange Commission. This confirmation marks Atkins’ return to the SEC where he served as commissioner from 2002 to 2008. Atkins, confirmed by a 52–44 vote, is expected to ease regulatory enforcement and roll back compliance requirements for corporations. Read More
The Consumer Financial Protection Bureau has signaled its intention to reissue a proposed rule on small business lending data collection. This shift comes after the agency had previously defended the original rule against legal challenges while under the Biden administration. This rule—commonly referred to as Small Business Lending Under the Read More
Whole Foods announced that it has settled a class-action lawsuit claiming that company manipulated an employee bonus program which resulted in lower payouts to its employees. The settlement comes almost 10 years after the allegations were brought against the grocery chain giant. The original lawsuit alleged that multiple Whole Food Read More
Deutsche Bank’s asset-management arm DWS Group agreed to a fine of 25 million euros, or $27 million to the Frankfurt Public Prosecutor’s office to settle allegations of greenwashing. The allegations were brought by Frankfurt prosecutors after its investigation into the firm’s environmental and social investing credentials. Greenwashing is when a Read More
Nasdaq proposed a change in its initial listing requirements for small companies that wish to conduct an initial public offerings. This change would effectively harden its listing standards, making it more difficult for smaller companies to list on the Nasdaq. According to the new rule, Nasdaq will require that companies Read More
The Securities and Exchange Commission announced, in a letter to the Eighth Circuit court, that it has voted to no longer defend rules requiring companies to disclose climate-related risks, greenhouse gas emissions, and their impact on business operations. The original rules requiring sch disclosure was adopted last year under the Read More
The Financial Industry Regulatory Authority announced that it fined broker-dealer United First Partners (UFP) and suspended its chief compliance officer for allegedly failing to implement an adequate supervisory system designed to supervise the firm’s outside brokerage accounts. UFP’s primary business is providing brokerage and research services to institutional customers. As Read More
