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DFS Encourages Insurance Companies, Banks, and Other Financial Institutions to Review Relationships with the NRA and Similar Organizations

Posted on April 24, 2018 at 12:00 AM

Governor Andrew M. Cuomo directed the NY Department of Financial Services to urge insurance companies, New York State-chartered banks, and other financial services companies licensed in New York to review any relationships they may have with the National Rifle Association (NRA) and other similar organizations. The review is designed to encourage companies to consider whether such ties harm their corporate reputations and jeopardize public safety.

DFS requested regulated entities to cons...

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Tiffany Awarded Nearly $20 Million Against Costco

Posted on August 17, 2017 at 7:25 AM

This week a federal judge on Monday ruled that Tiffany & Co. may recover at least $19.4 million in damages from Costco Wholesale Corp over the sale of counterfeit diamond engagement rings bearing the "Tiffany" name. Costco labeled their diamond rings as “Tiffany” they contend not to counterfeit the blue-box luxury jeweler.  Whether or not that was their intention, by dropping the “Setting” part – the word that makes the description universal – made...

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Liability and Regulatory Fines

Posted on August 7, 2017 at 5:50 PM
We're getting some interesting albeit potentially conflicting news in terms of regulatory fines and liability. Some folks believe we can expect less regulatory fines by the Trump administration in an effort to allow business more unfettered access to business. Signs of this are already starting to show. The Wall Street Journal reported that while in the first half in 2016, $1.4 billion in fines were levied on Wall Street firms by the three regulators (FINRA, SEC and CFTC), during the same perio... Read Full Post »