Securities and Exchange Commission Acting Chairman Mark Uyeda launched a “Crypto Task Force” dedicated to developing a comprehensive and clear regulatory framework for cryptocurrency assets. The task force will dedicate itself to developing a “comprehensive and clear regulatory framework for crypto assets.” The task force’s focus will be to assist Read More
The Federal Trade Commission announced that it is requiring H&R Block to make a number of changes for the 2025 tax filing season in addition to longer-term changes. The settlement also requires the company to pay $7 million to be used to compensate its customers that were harmed by the Read More
W ith the rise of AI and regulatory uncertainty, Chief Audit Executives (CAEs) are expected to face mounting pressure from the Board to address emerging risks and strengthen mitigation efforts. According to Gartner, a technological research and consulting firm, as AI has emerged as both a valuable business asset and Read More
The Securities and Exchange Commission announced that it settled charges against New York-based registered transfer agent Equiniti Trust Company LLC, , for failing to assure that client securities and funds were protected against theft or misuse. Those failures led to the loss of more than $6.6 million of client funds Read More
The Securities and Exchange Commission and the Commodity Futures Trading Commission announced that they collected $474 million in fines from broker-dealers and investment advisers for widespread and longstanding failures by the firms and their employees to maintain and preserve text messages and other electronic communications. The SEC announced that the Read More
As a result of the Federal Trade Commission’s investigation, the Department of Justice sued TikTok and its parent company ByteDance with flagrantly violating a children’s privacy law—the Children’s Online Privacy Protection Act—and also alleged they infringed an existing FTC 2019 consent order against TikTok for violating COPPA. The complaint alleges Read More
In a landmark trial case, a federal judge ruled that Google violated antitrust law when it spent billions of dollars to have its search engine dominate the industry. The decision, issued after a 10-week bench trial, represents a significant victory for the effort to challenge the dominance of a few Read More
The social media giant, Meta, agreed to settle a lawsuit accusing the company of illegally capturing biometric data from its users without their consent. Meta will pay a historic amount of $1.4 billion over the course of the next five years. Texas Attorney General Ken Paxton and McKool Smith, which Read More
The Federal Reserve Board took action to address consumer compliance breakdowns by Green Dot, fining the firm $44 million for numerous unfair and deceptive practices and a deficient consumer compliance risk management program. Green Dot violated consumer law in its marketing, selling, and servicing of prepaid debit card products, and Read More
The Federal Trade Commission issued orders to eight companies offering surveillance pricing products and services that incorporate data about consumers’ characteristics and behavior. The orders seek information about the potential impact these practices have on privacy, competition, and consumer protection. The orders are aimed at helping the FTC better understand the dense Read More
