California has finalized a new set of privacy regulations that expand requirements for cybersecurity audits, risk assessments, and the use of automated decisionmaking technology (ADMT). The California Privacy Protection Agency (CPPA) confirmed on September 23 that the Office of Administrative Law has approved the rules, concluding years of debate and public input.
In what officials are calling a landmark victory for consumers, the Federal Trade Commission (FTC) has extracted a historic $2.5 billion settlement from Amazon over allegations that the e-commerce giant misled millions into unwanted Prime subscriptions and intentionally made it difficult to cancel them.
California Attorney General Rob Bonta has joined a coalition of 17 other state attorneys general in urging a federal court to reject Capital One’s proposed $425 million settlement in a multidistrict class action, arguing that it does not adequately compensate consumers who lost nearly $3 billion in potential interest earnings.
France’s markets watchdog has come down hard on Altaroc Partners, handing the asset management firm and two of its top executives fines totaling €1.3 million after uncovering a pattern of governance and compliance missteps.
Swiss and British regulators are tightening the knot on financial services cooperation, giving markets and clients a clearer sense of what to expect as cross-border rules evolve.
The Malta Financial Services Authority (MFSA) has flagged weaknesses in how management companies overseeing Alternative Investment Funds (AIFs) and UCITS handle their investment management responsibilities and liquidity risk controls. The findings, published September 24 following a thematic review, were communicated in a “Dear CEO Letter” that set out the regulator’s expectations for improvements across governance, oversight, and integration of liquidity considerations.
Sanofi has been ordered to pay €150.7 million ($177.1 million) in damages to France’s national health insurance fund (CNAM) after a Paris appeals court found the drugmaker engaged in anti-competitive practices to protect sales of its anti-clotting drug Plavix, Reuters first reported.