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Republican AGs Wade Into CAT Fight

A coalition of 23 Republican AGs, led by Arkansas AG Tim Griffin, filed an amicus brief in the U.S. Court of Appeals for the Eleventh Circuit in American Securities Association v. U.S. Securities and Exchange Commission asking the court to find that the SEC lacks the authority to create the Consolidated Audit Trail (CAT) database of investors and trading activity.

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AGs Ask Congressional Leaders to Declaw CAT

A group of eight Republican AGs wrote a letter to Congressional leaders asking them to support the Protecting Investors’ Personally Identifiable Information Act, which was introduced by Republican Congress members in response to the SEC’s efforts to collect information about investors and essentially create a massive surveillance database containing detailed information on every trade by…

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Don’t Count Your Blessings Just Yet

Arkansas AG Tim Griffin and the FTC settled with BINT Operations LLC and two of its officers (collectively, “BINT”) to resolve allegations that the company violated federal and state consumer protection laws by running a pyramid scheme called “Blessings in No Time” (BINT). Separately, the Texas Attorney General’s Office settled with BINT to resolve similar…

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Fight Against Organized Retail Crime Continues with New Partnership

Arkansas AG Tim Griffin announced he is joining the Organized Retail Crime Alliance, a new collaboration between U.S. Homeland Security Investigations and law enforcement, prosecutors, and private sector partners from Louisiana, Arkansas, Mississippi, and Alabama to combat organized retail crime (ORC). AG Griffin’s announcement emphasized that all consumers pay for the billions of dollars lost…

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Republican AGs Oppose SEC Efforts to Regulate Cryptocurrencies

A group of twelve Republican AGs wrote a comment to the SEC opposing a proposed rule that would expand the Commission’s authority by allowing it to regulate cryptocurrencies. In the comment, the AGs argue that the SEC lacks authority to adopt the proposed “Safeguarding Advisory Clients Assets” rule which would expand the Commission’s regulatory reach…

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