Consumers Skeptical of “Natural” Products
A recent poll found that consumers are skeptical of products that claim to be “natural.” The survey, performed by Mango Sprouts Marketing, shows that consumers are dissatisfied with the unregulated […]
Entries by admin_fidj
Former UBS Banker Pleads Guilty to Defrauding the United States by Helping Conceal Assets Offshore
On December 22, 2010, Renzo Gadola pleaded guilty in the United States District Court for the Southern District of Floria, to conspiring to defraud the United States, under 18 USC […]
House Turns its Attention to Drug Safety
Now that food safety reform is underway, Congress has turned its focus to drug safety. House Democrats have recently introduced a Bill (H.R. 6543) that is expected to increase the FDA’s enforcement power over both foreign and domestic drugs.
IRS Seeks to Prevent Future Errors on Tax Returns by Focusing on Return Preparers
The Internal Revenue Service (IRS) continues to emphasize its focus on tax return preparers by sending more than 10,000 letters to tax return preparers nationwide. Additionally, the IRS plans on […]
The IRS’s Rejects Judicial Interpretations of the Six Year Statute of Limitations Rule
On December 17, 2010, the Internal Revenue Service (IRS) “eliminated a perceived ambiguity in the temporary regulations that was brought to light by the Tax Court in Intermountain Insurance Service […]
FDA Targets Tainted Dietary Supplements
Last week, the U.S. Food and Drug Administration (FDA) issued a letter to the dietary supplement industry, notifying companies of increased enforcement efforts and seeking cooperation from within the industry.
Embryonic Stem Cell Research Largely Funded by States
Researchers from the Georgia Institute of Technology have published a study shedding some light on the source of funding for embryonic stem cell research. According to the study, most of the research using human embryonic stem cells has been funded by states, rather than the federal government, even though federal spending for stem cell research is higher overall.
Dannon Agrees to Settle Advertising Dispute with the FTC
The Federal Trade Commission (FTC) has announced that Dannon, the makers of Activia and DanActive, has agreed to stop making certain claims about its products. In addition to its settlement with the FTC, Dannon has agreed to pay $21 million to resolve state-led investigations pertaining to its advertising.
FinCEN Assessment of Civil Monetary Penalty Against Unlicensed Money Transmitter Reveals the Importance of Compliance with Federal Regulations
On December 16, 2010, the Financial Crimes Enforcement Network of the U.S. Department of the Treasury (“FinCEN”) announced an assessment of a civil money penalty of $12,000 against a New […]
Key Elements of the Food Safety Modernization Act of 2010
The Food Safety Modernization Act (the Act) contains various sweeping provisions that will expand the FDAs power to regulate food facilities. With provisions for a more stringent registration process, the Act […]
