On November 8, 2017, the FTC announced a settlement with Georgia-based online tax preparation service, TaxSlayer, LLC, regarding allegations that the company violated federal rules on financial privacy and data security. The FTC charged TaxSlayer with violating the Gramm-Leach-Bliley Act’s Safeguards Rule and Privacy Rule.
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Amidst much anticipation, on July 25, 2017, the Securities and Exchange Commission released a Report of Investigation under Section 21(a) of the Securities Exchange Act of 1934 warning the market that “tokens” issued in ICOs may be “securities” such that the full breadth of the U.S. federal securities laws may apply to their offer and sale.
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On July 5, 2017, the FTC announced that Blue Global Media, LLC agreed to settle charges that it misled consumers into filling out loan applications and then sold those applications, including sensitive personal information contained therein, to other entities without verifying how consumers’ information would be used or whether it would remain secure.
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