Civil Law

CFPB Spring 2024 Supervisory Highlights looks at consumer reporting companies and furnishers

The CFPB has released the Spring 2024 edition of Supervisory Highlights.  The report discusses CFPB examinations in connection with credit reporting and furnishing that were completed from April 1, 2023 through December 31, 2023.

Key findings by CFPB examiners are described below.

Examinations of credit reporting companies (CRCs) found the following deficiencies:

  • CRCs failed to timely implement blocks of information after receiving the requisite information relating to an alleged identity theft, without otherwise making a reasonable determination with respect to
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Civil Law

Cruise Ship Dancer Employed on Miami-Based Cruise Line Arrested on Child Pornography Charges

A dancer employed on an unidentified cruise ship was recently arrested in Broward County on one charge of possession of child pornography and a second count of receipt and distribution of child pornography.

Twenty-six year old Jamaal Wade appeared in federal court in Fort Lauderdale in case number 0:24-mj-06151-PMH. A special agent of the Federal Bureau of Investigation (FBI) verified in a complaint alleging violation of 18 USC 2252A that Wade engaged in prior criminal sexual abuse of a child, … Read the rest

Civil Law

The DOL Updates the QPAM Exemption from Prohibited Transaction Restrictions under ERISA (US)

The Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and the Internal Revenue Code Of 1986, as amended (“Code”) contain broad prohibitions on transactions between ERISA-covered employee benefit plans and Individual Retirement Accounts (“Plans”), as well as certain people or entities closely connected to such Plans, known as “parties in interest” or “disqualified persons”. Absent an exemption, the types of transactions that are prohibited include sales and leases or loans between a Plan and a party or parties … Read the rest

Civil Law

SEC Wins Insider-Trading Suit Alleging “Shadow Trading”

A federal jury in California agreed with the SEC that a corporate official engaged in insider trading when he purchased securities of a company based on material nonpublic information (“MNPI”) about a different company. The April 5, 2024 verdict for the SEC in SEC v. Panuwat (N.D. Cal.) could embolden the SEC to pursue more claims of “shadow trading,” which involves trading the securities of a public company that is not the direct subject of the MNPI but whose stock price allegedly … Read the rest

Civil Law

EU BANS PRODUCTS MADE USING FORCED LABOUR – WHAT SHOULD COMPANIES EXPECT?

On March 5, 2024, the European Parliament and the Council of the European Union reached a “political agreement” on a Regulation prohibiting products made with forced labour (“the EU Forced Labour Regulation” or “the EUFLR“) on the European Union (“EU“) market (see Insight of 6 March 2024 hhttps://www.mayerbrown.com/en/insights/publications/2024/03/eu-political-agreement-on-forced-labor-product-ban). The EUFLR prohibits companies from “placing and making available” on the EU market, or exporting from the EU, products made with forced labour.

Continue reading at Mayerbrown.com.

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Civil Law

Settlement Portends Broad Failure in Attempts to Ban Natural Gas

The City of Berkeley is going to repeal its regulation that prohibits the installation of natural gas piping within newly constructed buildings.

Last week the California Restaurant Association announced that the group and the City of Berkeley entered into a settlement agreement immediately halting enforcement of the City’s ‘first in the nation’ ban on natural gas piping as the City Council takes steps to repeal the 2019 ordinance after the U.S. Court of Appeals for the 9th Circuit refused to … Read the rest

Civil Law

Texas Bar Foundation recognizes Craig T. Enoch

The Texas Bar Foundation honored retired Supreme Court of Texas Justice Craig T. Enoch with the 2024 Gregory S. Coleman Outstanding Appellate Lawyer Award, according to a press release.

The award, established in 2011, commemorates the late attorney Gregory S. Coleman and celebrates the ideals and standards that Coleman demonstrated in his appellate practice and personal life. Recipients exhibit an outstanding appellate practice while maintaining a strong commitment to providing legal services for the underserved. The award also recognizes dedication … Read the rest

Civil Law

DEFORESTATION REGULATION: IMPACTS OF A POSSIBLE DELAY IN RISK CLASSIFICATION OF COUNTRIES AND OTHER RECENT DEVELOPMENTS

On 9 June 2023, the European Union published Regulation (EU) 2023/1115 on the making available on the Union market and the export from the Union of certain commodities and products associated with deforestation and forest degradation (the “Deforestation Regulation” or the “EUDR”). The EUDR entered into force on 29 June 2023, although the main prohibitions and obligations will not apply until 30 December 2024.

Pursuant to the EUDR, beginning 30 December 2024, relevant products (derivatives of palm oil, soya, wood, … Read the rest