As you know, on June 22, 2011, the SEC adopted a rule that
exempts family offices from being regulated as investment advisers,
as long as they meet specific criteria.† One of the many
regulatory changes brought about by the Dodd-Frank Wall Street
Reform and Consumer Protection Act, this new "family office
rule," provides a broad exemption from SEC registration for
many family offices.† However, any family office that does NOT
currently satisfy the criteria for exemption must either
restructure or register with the SEC quickly, as the compliance
deadline of March 30, 2012 is approaching.
A federal district court in California recently ruled that a consumer who voluntarily provided a cellphone number in order to complete an online purchase gave "prior express consent" to receive a text message from the businessís vendors under the TCPA.
As previously noted on this blog, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule in June 2012 to implement the Equal Access to Justice Act. At the time, the CFPB requested public comment on the interim final rule.
A federal court recently held that a vendor of a VoIP service that allows callers to circumvent caller identification is not secondarily liable for the alleged TCPA violations of the caller that uses that service. See Clark v. Avatar Techs. PHL, Inc., No. 13-2777.
The Consumer Financial Protection Bureau (CFPB) is preparing to make significant revisions to the regulations promulgated under the Home Mortgage Disclosure Act of 1975 (HMDA) (Regulation C) by requiring home mortgage lenders to disclose far more information to regulators. In its first step toward these revisions, the CFPB is convening a Small Business Review Panel (as required by the Small Business Regulatory Enforcement Fairness Act) to seek input from small lenders on the proposed changes bef
Three and a half years after passage of the Dodd-Frank Act, the much anticipated final Volcker Rule has been issued. On December 10, 2013, the federal banking regulators, the Securities and Exchange Commission ("SEC"), and the Commodity Futures Trading Commission ("CFTC") (collectively, the "Agencies") issued a final rule ("Final Rule") to implement Section 13 of the Bank Holding Company Act of 1956 ("BHCA") ...
The U.S. Court of Appeals for the Ninth Circuit ruled that a successor mortgage servicer violated Section 533(c) of the Servicemembers Civil Relief Act (SCRA) when it attempted to collect, or failed to remove, fees incurred in connection with a rescinded Notice of Default.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
The CPSC is voting soon on whether to hold a workshop to discuss potential ways to reduce third party testing costs through additional "determinations" that certain products or materials do not require third party testing.