SAI Global GRC Community

GRC COMMUNITY
Building Organizational Integrity.
News >> Consumer Protection

Speech - Consumer Protection in the Online Market

13 Mar 2014
Written by World Watch

The Australian Competition and Consumer Commission (ACCC) has made available Empowering consumers in the digital age, a speech delivered by ACCC chairperson Rod Sims at the ACCC-hosted National Consumer Congress 2014 in Sydney on 13 March 2014.

Published in Consumer Protection

The Australian Competition and Consumer Commission (ACCC) has announced that the Federal Court of Australia has handed down its decision in Australian Competition and Consumer Commission v Breast Check Pty Ltd [2014] FCA 190 (10 March 2014), finding that breast imaging provider Breast Check Pty Ltd (Breast Check) engaged in "misleading or deceptive conduct and made false representations about the devices used in its breast imaging services".

Published in Consumer Protection

The United States Securities and Exchange Commission (SEC) has announced that it has obtained a Court order to freeze accounts belonging to Mutual Wealth, which the SEC alleges (25 February 2014) has been "exploiting investors through a website and social media accounts on Facebook and Twitter, falsely promising extraordinary returns of [2-3%] per week for investors who open accounts with the firm".

Published in Consumer Protection

Presented by:

Jennifer M. Keas, Senior Counsel - Foley & Lardner LLP

Rebecca R. Hanson, Senior Counsel - Foley & Lardner LLP

Jennifer Toussaint, Associate - Foley & Lardner LLP

 

The Consumer Financial Protection Bureau (CFPB) has had financial services organizations on their toes since its inception. Keeping up with the changing laws, regulations, official guidance and enforcement actions can be difficult. As we get into the new year, it is important to look for take-aways from recent CFPB enforcement action and understand what is coming up this year.

Published in Webinars

Identity Theft Remains Top Complaint Category

06 Mar 2014
Written by World Watch

The United States Federal Trade Commission (FTC) has released Consumer Sentinel Network Data Book for January - December 2013 (February 2014), which provides an overview of the complaints received by the FTC in 2013. The FTC received over 2 million complaints during the calendar year 2013, of which 55% related to fraud, 14% related to identity theft and 31% related to other types. Identity theft was the number one complaint category, 30% of which were tax- or wage-related.

Published in Consumer Protection

Energy Suppliers Urged to Return Unused Credit

06 Mar 2014
Written by World Watch

The United Kingdom Office of Gas and Electricity Markets (Ofgem) has urged large energy suppliers to return credit left in former customers' accounts or, if it cannot be returned, to "use it to benefit customers more generally and to make clear what to do when closing an account, the remaining sums held and the reasons for this".

Published in Consumer Protection

The United States (US) Securities and Exchange Commission (SEC) has announced that Credit Suisse Group AG (Credit Suisse) has agreed to "pay [US]$196 million and admit [to] wrongdoing" to settle charges that it breached US federal securities law by providing unregistered financial services.

Published in Consumer Protection

The United States (US) Federal Trade Commission (FTC) has made available an Order (15 January 2014) requiring light bulb manufacturer Lights of America Inc (Lights of America) and its owners to pay the FTC US$21 million for "misleading consumers by exaggerating the performance of their [light-emitting diode (LED)] light bulbs".

Published in Consumer Protection

Regulator to Target Online "Drip Pricing"

26 Feb 2014
Written by World Watch

The Australian Competition and Consumer Commission (ACCC) has released its latest Compliance and enforcement policy (February 2014), which "outlines the ACCC's priority areas for the year and sets out the factors to be taken into account when deciding whether to pursue matters".

Published in Consumer Protection

United States-based bank Lehman Brothers Holdings Inc (Lehman) is to pay US$767 million to the US Federal Home Loan Mortgage Corporation (Freddie Mac) to settle a US$1.2 billion claim over two loans issued by Freddie Mac to Lehman a matter of months before Lehman filed for bankruptcy.

Published in Consumer Protection

© 2013 SAI Global Limited ABN 67 050 611 642

Login

LOG IN

Register

User Registration
or Cancel