In what officials are calling a landmark victory for consumers, the Federal Trade Commission (FTC) has extracted a historic $2.5 billion settlement from Amazon over allegations that the e-commerce giant misled millions into unwanted Prime subscriptions and intentionally made it difficult to cancel them.
California Attorney General Rob Bonta has joined a coalition of 17 other state attorneys general in urging a federal court to reject Capital One’s proposed $425 million settlement in a multidistrict class action, arguing that it does not adequately compensate consumers who lost nearly $3 billion in potential interest earnings.
France’s markets watchdog has come down hard on Altaroc Partners, handing the asset management firm and two of its top executives fines totaling €1.3 million after uncovering a pattern of governance and compliance missteps.
Swiss and British regulators are tightening the knot on financial services cooperation, giving markets and clients a clearer sense of what to expect as cross-border rules evolve.
Sanofi has been ordered to pay €150.7 million ($177.1 million) in damages to France’s national health insurance fund (CNAM) after a Paris appeals court found the drugmaker engaged in anti-competitive practices to protect sales of its anti-clotting drug Plavix, Reuters first reported.
Optus has been dealt a major blow in the Federal Court, ordered to pay $65 million (AUD 100 million) after admitting it engaged in unconscionable conduct by selling mobile phones and plans to vulnerable Australians who often could not afford, use, or understand them.
UBS has put an end to a long-running French legal battle, agreeing to pay €835 million ($895 million) to settle charges tied to its cross-border business activities from 2004 to 2012.