NY AG Warns of Prediction Market Risks and Lack of Consumer Protection

New York Attorney General Letitia James issued a consumer and industry alert warning New Yorkers about the risks of unregulated prediction markets, which lack consumer protections and may violate gambling laws. The alert advises consumers to verify platform licensing and exercise caution with funds.

NY AG Sues Trump Admin Over Hudson Tunnel Project Funding Freeze

New York and New Jersey Attorneys General have sued the Trump administration over its decision to freeze federal funding for the Hudson Tunnel Project. The states are seeking emergency relief to prevent a shutdown of the project, which could lead to thousands of job losses and significant economic disruption.

California AG Announces Arrest of Teacher for CSAM Possession

California Attorney General Rob Bonta announced the arrest of a La Costa Canyon High School teacher for possession of child sexual abuse material (CSAM). The investigation found the teacher attempted to purchase CSAM online, and subsequent searches confirmed possession. This action highlights the state's commitment to prosecuting offenders and protecting children.

California AG v. Trump Administration - Energy Emergency Order Lawsuit

California Attorney General Rob Bonta co-led a multistate coalition in filing an amended complaint against the Trump Administration over an Executive Order declaring a national energy emergency. The amended complaint adds the U.S. Department of the Interior as a defendant, challenging its actions to bypass environmental laws when permitting energy projects.

State AGs Oppose OCC Rules Weakening Consumer Financial Protection

California Attorney General Rob Bonta joined 22 other state attorneys general in opposing proposed rules by the Office of the Comptroller of the Currency (OCC) that would preempt state laws requiring minimum interest on mortgage-escrow accounts. The coalition argues these rules would weaken consumer protections and infringe on states' rights.

California AG Announces Seven Arrests for Hospice Fraud

California Attorney General Bonta announced the arrest of seven individuals for hospice fraud, resulting in an estimated loss of over $3.2 million to Medi-Cal and Medicare. The charges include felony violations for false or fraudulent claims and conspiracy.

California AG Sues Over 3D Printed Ghost Gun Code Distribution

California Attorney General Rob Bonta, along with San Francisco City Attorney David Chiu, has filed a lawsuit against Gatalog Foundation Inc. and CTRLPew LLC for unlawfully distributing computer code for 3D printing ghost guns and other firearm components. The lawsuit seeks to halt the distribution of blueprints that facilitate the illegal manufacture of untraceable firearms.

Connecticut Insurance Department Updates Reserving Manual

The Connecticut Insurance Department has issued Bulletin FS-45 to announce the effective date of January 1, 2023, for changes made to the Principle-Based Reserving Valuation Manual. These changes were adopted by the NAIC and represent a significant update to reserving requirements for life, accident, and health insurance companies operating in Connecticut.

Connecticut Insurance Department: Annual and Quarterly Financial Reporting

The Connecticut Insurance Department has issued a bulletin requiring all authorized insurance companies, domestic surplus lines insurers, fraternal benefit societies, and health care centers to file their 2022 annual statements and 2023 quarterly financial reports by March 31, 2023. These filings must adhere to NAIC standards and be submitted electronically.

Connecticut Reinsurer Financial Filing Requirements

The Connecticut Insurance Department issued Bulletin FS-4AR-22 detailing the 2022-2023 financial filing requirements for accredited reinsurers. Key deadlines include March 1, 2023, for annual statements and April 1, 2023, for actuarial opinions.