Cracking Down on Ponzi Schemes: Nigeria Moves to Reinforce Financial Integrity

Cracking Down on Ponzi Schemes: Nigeria Moves to Reinforce Financial Integrity

In a sweeping effort to safeguard Nigerians from fraudulent investment schemes, the Securities and Exchange Commission (SEC) is pushing for stronger legal measures to curb Ponzi and pyramid scams. Under the proposed 2024 Investments and Securities Bill (ISB), promoters and operators of illegal financial schemes face hefty fines and long jail sentences. The ISB seeks …

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CBN Raises Concerns Over New SEC Powers in Proposed Investment Bill

CBN Raises Concerns Over New SEC Powers in Proposed Investment Bill

The Central Bank of Nigeria (CBN) has voiced significant concerns over provisions in the Investment and Securities Bill 2024, warning that some of the proposed powers for the Securities and Exchange Commission (SEC) may conflict with existing money laundering laws and could lead to operational clashes between the two entities. At a public hearing in …

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Musk Expands Legal Battle Against OpenAI, Targets Microsoft with Antitrust Claims

Musk Expands Legal Battle Against OpenAI, Targets Microsoft with Antitrust Claims

Elon Musk is intensifying his legal fight against OpenAI, broadening his lawsuit to include Microsoft and allegations of antitrust violations. Filed in federal court in Oakland, California, the amended suit accuses both companies of conspiring to dominate the market for generative AI, stifling competition in the process. The lawsuit, originally filed in August, claims that …

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FanDuel Reaches Settlement with MLB Players Union Over Unauthorized Use of Likenesses

FanDuel Reaches Settlement with MLB Players Union Over Unauthorized Use of Likenesses

In a significant move, FanDuel has settled a lawsuit with Major League Baseball’s players union, resolving allegations that the sports betting platform had used the names, images, and likenesses of hundreds of MLB players without proper permission. The settlement, confirmed by a FanDuel spokesperson, involves a confidential licensing agreement between the two parties. As part …

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New Courthouse Design Guidelines Could Drive Up Costs, Accountability Office Warns

New Courthouse Design Guidelines Could Drive Up Costs, Accountability Office Warns

The new design standards set in 2021 for federal courthouses are expected to significantly increase construction expenses, according to a recent report from the Government Accountability Office (GAO). The updated guidelines, aimed at enhancing security by expanding space for public, court staff, and prisoner movement, could increase the size of courthouses by 5.8% and push …

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Speaker Johnson Seeks to Block Gaetz Ethics Report Release Ahead of Senate Confirmation

Speaker Johnson Seeks to Block Gaetz Ethics Report Release Ahead of Senate Confirmation

In a move that could have significant political ramifications, U.S. House Speaker Mike Johnson is taking a firm stance against the release of a long-anticipated ethics report regarding Rep. Matt Gaetz, a controversial figure with ties to former President Donald Trump. The report, which investigates allegations of sexual misconduct against Gaetz, had been set to …

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Texas Judge Blocks Biden’s Overtime Pay Expansion, Returns to 2019 Threshold

Texas Judge Blocks Biden’s Overtime Pay Expansion, Returns to 2019 Threshold

A Texas federal judge has ruled against the Biden administration’s new overtime pay rule, potentially reversing the eligibility of millions of salaried workers for overtime compensation. The decision, issued by U.S. District Judge Sean Jordan, halts a key provision of the Labor Department’s rule that would have increased the salary threshold for overtime eligibility to …

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Corporate Giants Take Aim at US Labor Board in Pivotal Legal Battle

Corporate Giants Take Aim at US Labor Board in Pivotal Legal Battle

In an escalating clash over labor rights enforcement, Amazon and SpaceX have joined forces in challenging the authority of the U.S. National Labor Relations Board (NLRB). Their lawsuits, now before the influential 5th U.S. Circuit Court of Appeals, seek to block the agency’s ability to pursue cases accusing them of violating workers’ rights. This move …

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Tillis Threatens to Block Biden’s Appeals Court Nominee Ryan Park

Tillis Threatens to Block Biden’s Appeals Court Nominee Ryan Park

A contentious judicial nomination took a sharp turn this week when Republican Senator Thom Tillis vowed to block President Biden’s choice for the 4th U.S. Circuit Court of Appeals, North Carolina Solicitor General Ryan Park. Despite Park’s advancement through the Senate Judiciary Committee, where the vote was narrowly split 11-10 along party lines, Tillis declared …

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Gaetz’s Path to Attorney General Faces Growing Scrutiny Amid Unreleased Ethics Report

Gaetz’s Path to Attorney General Faces Growing Scrutiny Amid Unreleased Ethics Report

As Matt Gaetz’s nomination for attorney general under President-elect Trump intensifies, pressure is mounting for the immediate release of a crucial ethics report examining serious allegations against him. Senator John Cornyn, a key figure in the Senate Judiciary Committee, made it clear that he expects full access to the report from the House Ethics Committee, …

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