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Supreme Court Holds the FTC Act Gives No Authority to Bypass Administrative Cease-And-Desist Orders | K&L Gates LLP

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In recent years, the Federal Trade Commission (FTC) has with increasing frequency sued in federal court under the purported authority of Section 13(b) of the Federal Trade Commission Act
1 (FTC Act) to obtain restitution of losses or disgorgement of profits resulting from “unfair methods of competition” or “unfair or deceptive acts or practices.” In doing so, the FTC has circumvented often time-consuming FTC administrative hearings that can produce nothing more than a cease-and-desist order. The FTC has followed this procedure in pursuit of both its consumer protection mission and its antitrust enforcement mission. On 22 April 2021, the U.S. Supreme Court in ....

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FTC Act Gives No Authority to Bypass Cease-and-Desist Orders

Tuesday, May 11, 2021
In recent years, the Federal Trade Commission (FTC) has with increasing frequency sued in federal court under the purported authority of Section 13(b) of the Federal Trade Commission Act
1 (FTC Act) to obtain restitution of losses or disgorgement of profits resulting from “unfair methods of competition” or “unfair or deceptive acts or practices.” In doing so, the FTC has circumvented often time-consuming FTC administrative hearings that can produce nothing more than a cease-and-desist order. The FTC has followed this procedure in pursuit of both its consumer protection mission and its antitrust enforcement mission. On 22 April 2021, the U.S. Supreme Court in ....

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Bitcoin is All The Rage But It is Terrible for the Planet

Bitcoin is All The Rage But It is Terrible for the Planet
onegreenplanet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from onegreenplanet.org Daily Mail and Mail on Sunday newspapers.

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Tesla Buys $1.5 Billion in Bitcoin, Sending Its Price Soaring

(Photo by Smith Collection/Gado/Getty Images)
Tesla is making a big bet on Bitcoin. The automaker not only plans on accepting the virtual currency as a form payment, but it’s also buying $1.5 billion in Bitcoin itself.
Tesla is spending the massive sum in the hopes Bitcoin will turn out to be a worthy investment, the automaker says in a Monday securities filing. Last month, the company updated its investment policy to “further diversify and maximize returns” on the cash it currently holds.
“Thereafter, we invested an aggregate $1.5 billion in Bitcoin under this policy and may acquire and hold digital assets from time to time or long-term,” the filing adds. In the same document, Tesla says it expects to accept Bitcoin as a form of payment in the near future, but initially on a limited basis. ....

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