For nearly two weeks in late 2023, some UK business customers of Vonage picked up their desk phones and discovered they couldn’t dial 999. Today, Ofcom confirmed that lapse will cost the communications provider £700,000.
For years, Malta’s beneficial ownership reporting regime has kept a watchful eye on professional trustees. Now, the net has widened. Private trustees, the individuals who quietly manage trusts outside of a professional setup, are being pulled into the same regulatory framework, with new obligations that promise to shake up how transparency in the sector is enforced.
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.
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.