Update On Cases Challenging Cordray Appointment

By | CFPB Monitor | May 30, 2013

We have been following two federal court cases that involve challenges to Director Cordray’s appointment.  The California case, CFPB v. Chance Edward Gordon, was filed in summer 2012 by the CFPB against an attorney and his law firm alleging that the defendants duped consumers by falsely promising loan modifications in exchange for advance fees and, in reality, did little or nothing to help consumers.

Washington State to Regulate Fund Managers

By | The Venture Alley | May 20, 2013

The world is changing for venture funds and similar funds in Washington State, and not necessarily for the better.  It used to be the case that managers of venture or other private funds did not need to file anything with the SEC or state securities regulators (other than Forms D incident to their fundraisings). 

SEC and CFTC Impose New Identify Theft Regulations Requiring Investment Advisory Firms to Consider Updates to Policies and Procedures

By | New Jersey Law Blog | April 30, 2013

On April 10, 2013, the Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Commission jointly adopted and announced new identity theft red flag regulations, which are being imposed pursuant to their respective authority under Dodd-Frank Act and the Fair Credit Reporting Act (“FCRA”).