Disclosure Requirements, Financial Services Industry, Appeals

UK Supreme Court Clarifies Rules on Fiduciaries, Bribery and Disclosure

Skadden, Arps, Slate, Meagher & Flom LLP on 8/15/2025

Improper inducement or legitimate distribution fee? The UK Supreme Court’s landmark ruling clarifies the rules on intermediaries that are common to the supply chain of almost all financial services....more

Ninth Circuit Upholds DFPI's Commercial Financing Disclosure Rules

Allen Matkins on 4/23/2025

On September 30, 2018, California enacted SB 1235, codified at California Financial Codes sections 22800–22805. SB 1235 requires that an offer of commercial financing for $500,000 or less be accompanied by disclosures of: (1)...more

First Circuit Questions Materiality in SEC's Case Against Commonwealth Equity Services

Troutman Pepper Locke on 4/17/2025

On April 1, the U.S. Court of Appeals for the First Circuit vacated a summary judgment ruling in favor of the Securities and Exchange Commission (SEC) against Commonwealth Equity Services, LLC, also known as Commonwealth...more

State Law Claims Based on Student Loan Servicer’s Loss Mitigation Representations Not Preempted by the HEA, Seventh Circuit Court...

Bradley Arant Boult Cummings LLP on 7/2/2019

The Seventh Circuit Court of Appeals struck a blow to student loan servicers’ arguments that certain state law claims brought by borrowers are preempted under the Higher Education Act (HEA). In a lengthy opinion issued on...more

The End of the DOL’s Fiduciary Rule - Employee Benefits Alert

Bradley Arant Boult Cummings LLP on 6/27/2018

On June 21, 2018, the Fifth Circuit Court of Appeals issued a mandate vacating the controversial fiduciary rule issued by the U.S. Department of Labor (DOL) in 2016. The mandate follows the court’s opinion issued on March 15,...more

Eleventh Circuit: Voicemail Constitutes Communication Under the FDCPA, But Disclosure of Individual’s Identity Is Not Required

Burr & Forman on 9/27/2017

In a case of first impression, the Eleventh Circuit recently held that a voicemail constitutes a “communication” under the FDCPA, and can thus trigger the mini-Miranda requirement, but an individual collecting on behalf of a...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 10/28/2016

Financial Industry Developments - Agencies Issue Advanced Notice of Proposed Rulemaking on Enhanced Cyber Risk Management Standards - On October 19, 2016, the Federal Reserve Board, the Federal Deposit Insurance...more

Voicemail Message Without Express Statement It Was From Debt Collector Did Not Violate FDCPA, Ninth Circuit Rules

Ballard Spahr LLP on 8/12/2016

A debt collection law firm did not violate the Fair Debt Collection Practices Act (FDCPA) by leaving a voicemail message for the plaintiff that identified the law firm but did not expressly state that the law firm was a debt...more

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