The fight over who regulates prediction markets continues as the CFTC filed a lawsuit against another state for its attempt to cement its jurisdiction on these companies. One of these companies, Kalshi, fought back as well, suing the state of Illinois, adding to the growing list of legal battles over this still-emerging sector.
Regulatory Enforcement
Posted inRegulatory Enforcement
Edwards Lifesciences pays $10M and creates antitrust compliance program under FTC judgment
Edwards Lifesciences Corp. will pay a $10 million penalty and create and maintain an antitrust compliance program under a pending agreement with the FTC for failing to notify the commission about its acquisition of JC Medical from Genesis MedTech Group.
Posted inRegulatory Enforcement
U.K. regulator fines Virgin Media $38 million for repeat competition offense
Virgin Media has been fined a record $37.5 million for making it unreasonably difficult for customers to close accounts or switch to a better telecoms deal.
Posted inRegulatory Enforcement
FTC, states settle right-to-repair suit with John Deere
The FTC and five states reached a settlement with Deere & Company that requires the agricultural equipment maker to overhaul practices that limited farmers’ ability to repair their own machinery, the FTC announced Wednesday.
Posted inBanking
Banks gave $39M in loans to construction fraudster
A California man was sentenced Tuesday to more than six years in prison for fraudulently obtaining about $39 million in business loans from seven banks, which were tricked into believing the loans were for construction equipment, the DOJ said.
Posted inRegulatory Enforcement
FTC warns companies about ‘Made in USA’ labels
Seven companies received warnings Monday from the FTC for falsely claiming their products were made in the United States.
Posted inRegulatory Enforcement
ESMA fines Moody’s $2.45M over misreporting errors
Moody’s Germany has been hit with a $2.45 million by the EU’s financial markets regulator for four breaches of credit rating agency regulations.
Posted inWhistleblowers
CFTC proposes to amend Whistleblower Rule, signals more enforcement activity
The CFTC is seeking comment on a proposed amendment to its whistleblower rules and warned that its enforcement program will “relentlessly focus on serious violations.”
Posted inRegulatory Enforcement
Sabre Corp subsidiary fined $1.3 million for U.K. sanctions circumvention
The U.K.’s sanctions office has imposed its largest penalty for circumventing Russian sanctions since the war in Ukraine began in 2022.
Posted inRegulatory Enforcement
Merrill Lynch to pay $7.5M for failure to file Suspicious Activity Reports
Bank of America’s Merrill Lynch brokerage unit has agreed to pay $7.5 million to settle SEC charges that it failed to file numerous Suspicious Activity Reports between April 2020 and September 2024 due to gaps in its transaction monitoring threshold.
