The Federal Trade Commission and the Nevada Attorney General accused International Markets Live Inc. of selling false promises of wealth to young and minority consumers through a multi-level marketing scheme. Haynes Boone Partner Tim Newman spoke to The National Law Journal about what this might mean for future actions by the FTC in the article excerpted below:
Tim Newman, a partner at Haynes Boone in Dallas who is not involved in the matter, said, on the one hand, the filing reaffirms that federal regulators will continue to investigate and prosecute what they view as fraudulent or deceptive business practices, even if they relate to cryptocurrency markets or trading, where federal regulators have signaled a softer regulatory approach.
"On the other hand," Newman added, "the filing highlights the more prominent enforcement role we expect state regulators to play in the coming years as priorities shift at the federal level and federal agencies are being downsized."
Read the full article from The National Law Journal here.
