- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-01-17T22:06:00
A proposed “click to cancel” rule by the Federal Trade Commission (FTC) is not necessary, too broad, and would harm mom-and-pop companies, according to business allies and trade groups.
The business groups, including the Interactive Advertising Bureau and International Franchise Association, made their case against the FTC’s proposed amendments to its negative option rule at an informal hearing by the agency Tuesday. The hearing was held as the FTC prepares to move into final rulemaking on a proposal it says is necessary to halt deception around subscription services.
The proposed changes would modernize the agency’s 50-year-old subscriptions and recurring payments regulations, particularly regarding online purchases, and aim to make it easier for people to cancel subscriptions and be completely informed when they sign up for them.
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Tthe Federal Trade Commission, after years of public comments and changes, released a final “Click to Cancel” Rule, which requires a customer’s express consent before they can be charged and prohibits practices that make it difficult for a customer–whether a family or another business–to cancel.
Kitchen and home retail company Williams-Sonoma agreed to pay nearly $3.2 million for failing to comply with a 2020 administrative order by the Federal Trade Commission prohibiting its marketing of imported goods as made in the United States.
The appointments of two new commissioners on the Federal Trade Commission were confirmed, with the Democratic-led agency welcoming Republicans Andrew Ferguson and Melissa Holyoak.
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
A U.S. Appeals Court overturned a Securities and Exchange Commission rule that had required companies listed on the Nasdaq stock exchange to disclose whether their boards had women or minority members–and if not, why not.
