The Federal Trade Commission (FTC) is set to implement a new Rule on Unfair or Deceptive Fees, which will take effect on May 12, 2025. This regulation aims to combat deceptive pricing practices, including hidden fees and bait-and-switch tactics, in industries such as live-event ticketing and short-term lodging. The Rule seeks to ensure price transparency and protect consumers from misleading pricing strategies.
Credit Suisse Services AG has pleaded guilty to charges of conspiring with U.S. taxpayers to hide more than $4 billion in assets through offshore accounts. This revelation follows a years-long investigation into the bank’s role in helping wealthy individuals dodge U.S. taxes. The penalty for these crimes? A hefty $510 million in fines and restitution, marking yet another dark chapter in the Swiss bank’s troubled history.
The Federal Trade Commission (FTC) and the Department of Justice (DOJ) Antitrust Division are asking federal agencies to take a closer look at their own rulebooks. The goal? To identify and remove regulations that stifle innovation, reduce competition, and ultimately hinder the American economy.
The Irish Data Protection Commission (DPC) has handed down a large fine to TikTok, totaling €530 million, following an extensive investigation into the platform's handling of user data. The fine comes after the DPC concluded that TikTok violated key provisions of the General Data Protection Regulation (GDPR), specifically regarding its transfers of personal data of European Economic Area (EEA) users to China.
Raytheon and its former subsidiary, Nightwing Group, have reached an $8.4 million settlement to resolve allegations tied to cybersecurity lapses in contracts with the U.S. Department of Defense (DoD). This settlement, while hefty, speaks volumes about the importance of cybersecurity in defense contracting and the government’s commitment to keeping sensitive information safe from cyber threats.
The House Financial Services Committee has advanced a proposal that would dismantle the Public Company Accounting Oversight Board (PCAOB). If enacted, the legislation would fold the PCAOB’s responsibilities into the Securities and Exchange Commission (SEC), prompting fears about the long-term stability of financial market oversight. The proposal has ignited a heated debate, with PCAOB Chair Erica Williams leading the charge against it, warning that the change could cause significant disruptions.
The world of crypto is evolving at a high speed, but with growth comes a pressing need to make sure bad actors don’t exploit the system. Enter the European Securities and Markets Authority (ESMA), which just issued fresh guidelines aimed at preventing market abuse under the EU’s Market in Crypto Assets Regulation (MiCA).