As reported in a Hunton Client Alert, the US Department of Justice, the US Department of Commerce’s Bureau of Industry and Security, and the US Department of the Treasury’s Office of Foreign Assets Control recently issued guidance regarding the voluntary self-disclosure by US businesses of violations of US sanctions and export control laws to these agencies.
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FTC Updates Endorsement Guides: Highlights Online Reviews, Social Media Tags, and Clear Disclosures
By Hunton Andrews Kurth LLP on
Posted in Regulatory
Last week, the FTC announced its long-awaited finalization of updated Endorsement Guides. These guidelines come after the FTC initially voted to publish revised guidelines in May 2022.
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Interagency Guidance for Bank Risk Management of Third-Party Relationships
By Hunton Andrews Kurth LLP on
Posted in Regulatory
As reported in a Hunton Client Alert last week, on June 6, 2023, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency issued final guidance on managing risks associated with third-party relationships, including relationships with fintechs.
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CFTC Wins Default Judgment Against Ooki DAO
By Hunton Andrews Kurth LLP on
On June 8, 2023, Judge William H. Orrick of the U.S. District Court for the Northern District of California granted a default judgment in favor of the CFTC against Ooki DAO, a cryptocurrency decentralized autonomous exchange.
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CFTC Staff Issues Alert on Risks of Clearing Digital Assets
By Hunton Andrews Kurth LLP on
Posted in Crypto Exchanges, Regulatory
On May 30, 2023, the Commodity Futures Trading Commission Division of Clearing and Risk issued a staff advisory on the risks associated with the Derivatives Clearing Organization clearing of digital assets.
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FTC Secures First Monetary Settlement Against Celebrity Endorsers
By Hunton Andrews Kurth LLP on
Posted in Regulatory
On May 22, 2023, the Federal Trade Commission announced its first monetary settlement with celebrity endorsers for a combined $1.7 million.
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NFT Service Brings Litigation Into the Metaverse!
By Hunton Andrews Kurth LLP on
Posted in Cryptocurrencies
As reported on the Hunton Insurance Recovery Blog, blockchain technology has been touted as inherently reliable for years. More recently, collectors of NFTs have explored expanded uses for that novel technology. Some courts have bought in and, in doing so, recently authorized a use that perhaps no one had imagined when NFTs first entered the mainstream: service of process.
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US Bureau of Economic Analysis Conducts Survey of US Businesses Having Foreign Ownership of Voting Interests of 10% or More
By Hunton Andrews Kurth LLP on
Posted in Regulatory
The US Bureau of Economic Analysis has announced that it is conducting a survey of all US businesses whose voting interests are 10% or more owned, directly or indirectly, by a foreign person. …
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DOJ Announcements on Corporate Compliance Programs, Compensation Clawbacks and National Security
By Hunton Andrews Kurth LLP on
Posted in Regulatory
The US Department of Justice made several recent announcements expanding on its expectations for corporate compliance programs and unveiling new guidance on executive compensation structures, consequence management and business communications and ephemeral messaging.
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Bank Turmoil Brings Increased Risk of Litigation and Investigations
By Hunton Andrews Kurth LLP on
Posted in Regulatory
Hunton Andrews Kurth LLP continues to assist clients and monitor developments in the financial markets arising from the liquidity challenges and market volatility currently facing the banking industry. Late Tuesday brought the first inevitable wave of lawsuits and government investigations. There will be many more in the days ahead.
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