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Enforcement Actions › Financial Services Industry › Jurisdiction

Pillsbury Winthrop Shaw Pittman LLP

Judge Starr’s Ruling in Metals.com Case Raises Jurisdictional Questions About CFTC Authority

Pillsbury Winthrop Shaw Pittman LLP on

A recent ruling by a Texas federal court adopts a narrow, textually driven reading of the Commodity Exchange Act, questioning whether gold and silver bullion are “commodities” within the statute’s scope....more

Jones Day

CFTC Divisions Interpret "U.S. Person" Definition and U.S. Location Versus Foreign Location

Jones Day on

A 2024 CFTC enforcement action settlement that may have introduced a new test for when the Commodity Exchange Act and the agency's regulations apply on a cross-border basis concerned then-CFTC Commissioner and now Acting CFTC...more

A&O Shearman

CJEU imposes limits on the validity of asymmetric EU jurisdiction clauses

A&O Shearman on

In a decision that may cause some concern, the CJEU has held that asymmetric EU jurisdiction clauses are only valid under EU law if they designate with sufficient precision the alternative jurisdictions in which proceedings...more

Alston & Bird

Update Regarding the BrightSpeed Payment Processor Case

Alston & Bird on

On January 18, after approximately fourteen months of settlement negotiations, the CFPB announced that it secured a settlement agreement with BrightSpeed Solutions, Inc., a third-party payment processor that had ceased...more

Orrick, Herrington & Sutcliffe LLP

Federal Court Sends Colorado's Case Against Online Lending Platform Back to State Court

Orrick, Herrington & Sutcliffe LLP on

Colorado's ongoing challenge to the bank partnership model of online lending will next play out, at least in part, in state court. Last year, the Administrator of Colorado's Uniform Consumer Credit Code filed suits in...more

Ballard Spahr LLP

The Eastern District of Michigan Affirms the CFPB's Broad Authority to Issue Civil Investigative Demands

Ballard Spahr LLP on

A recent decision from the Eastern District of Michigan in CFPB v. Harbour Portfolio Advisors, LLC; National Asset Advisors, LLC; and National Asset Mortgage, LLC serves as a reminder that the Consumer Financial Protection...more

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