K&L Gates Triage: Reading the Fine Print: A Closer Look at the Proposed Regulation over Arbitration Clauses in Long-Term Care Resident Agreements
The U.K. Financial Conduct Authority and the Financial Ombudsman Service have launched a joint call for input on modernizing the redress system. The two main concerns of the FCA and the FOS are mass redress events and FCA-FOS...more
The U.K. Financial Ombudsman Service published a feedback statement to its consultation on its proposals to charge fees to claims management companies and other professional representatives. The statement summarizes the...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
On November 15, the CFPB published its 2024 Annual Report of the CFPB Student Loan Ombudsman, highlighting the challenges and changes in the student loan system during 2023-2024. Among other things, the report described...more
Welcome to our monthly update on current legal issues for trustees of DB and hybrid pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on...more
Welcome to our quarterly pensions litigation briefing, designed to help pensions managers identify key risks in scheme administration, and trustees update their knowledge and understanding. This briefing highlights recent...more
Welcome to our monthly update on current legal issues for trustees of DC pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on your next...more
On the 7 August 2024, the FCA issued its Final Notice to the asset manager H2O AM LLP (“H2O”), in the context of which H2O agreed to pay €250 million to investors who have been unable to access their funds since 2020. In the...more
Recovering overpayments of benefits is a challenge often faced by pension trustees. Pension scheme benefits are complex and it is no surprise that mistakes can arise and lead to members being paid more than they are entitled...more
The Canadian Securities Administrators (“CSA”) have proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (“NI 31-103”) and changes to its companion policy...more
Imagine this – a customer submits a payment instruction directing that all their life savings are transferred to a third-party account for the purposes of an investment. What do you do? While the scenario may appear...more
On 19 December 2023, the Payment Systems Regulator (PSR) published its final policy statement on fighting authorised push payment (APP) scams alongside three legal instruments that will give effect to the new mandatory...more
Health Care Provider Bankruptcy Update: Patient Care Ombudsman Not Necessary In Every Health Care Business Bankruptcy Case - Recent headlines have starkly illuminated the headwinds facing health care providers struggling...more
Recent headlines have starkly illuminated the headwinds facing health care providers struggling to recover from a host of financial pressures. Many providers have resorted to filing for bankruptcy protection as a way, among...more
On November 30, the CFPB Ombudsman’s Office published its annual report, which detailed inquiries handled by the office, included a new FAQ section, and described the second year of the Ombudsman’s post-examination survey of...more
While the Pennsylvania Department of Health (“DOH”) regulations governing long-term care (“LTC”) facilities have historically set forth the process for the closure of an LTC facility (see 28 PA Code 201.23), the regulations...more
OFCCP created its Ombud Service, outlined in Directive 2018-09, to increase transparency and communication between the OFCCP and Agency stakeholders. The Agency defines stakeholders to include federal contractors and...more
Welcome to your weekly update from the Allen & Overy Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions....more
On June 15, 2022, the U.S. Citizenship and Immigration Services (USCIS) ombudsman published formal recommendations on how the federal agency can address certain systemic issues. According to the report, the COVID-19 pandemic...more
Welcome to your weekly update from the Allen & Overy Pensions team, covering all the latest legal and regulatory developments in the world of occupational pensions....more