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The overcharging was discovered as a result of a Central Bank inspection. The investigation found that Keystone failed to have adequate systems and controls to allow it to correctly apply fees in accordance with its terms of business, and communicate clearly on fees to its customers in order for them to make informed financial decisions. Over a five-year period, 62 customers were identified as having been overcharged, and 190 customers received unclear communications. The Central Bank determined the appropriate fine to be €59,121, which was reduced by 30pc to €41,385 in accordance with a ...

Central Bank fines Keystone Insurance for code breaches Updated / Thursday, 28 Jan 2021 11:52 Keystone Insurance has been reprimanded and fined €41,385 by the Central Bank for breaches of the Consumer Protection Code The Central Bank has reprimanded and fined Keystone Insurance a total of €41,385 for overcharging customers and providing "unclear" communication on fees to customers. The Central Bank said it found six breaches of the Consumer Protection Code 2012 at Keystone Insurance from April 2012 to December 2017. Keystone, a retail intermediary that operates in the commercial insuranc...

Central Bank fines insurance company over €40,000 after customers overcharged The Central Bank of Ireland found that Keystone Insurance overcharged 62 customers over five years. By Lauren Boland Thursday 28 Jan 2021, 1:27 PM Jan 28th 2021, 1:27 PM 24,542 Views 8 Comments Image: Shutterstock/Nopphon_1987 Image: Shutterstock/Nopphon_1987 THE CENTRAL BANK of Ireland has fined an insurance broker over €40,000 after finding that customers wer...

Intervozes Videos from Brazilian NGO Intervozes have been removed from YouTube for alleged copyright infringement. State Judicial branch recognized the illegality of the Content ID mechanism. Last Tuesday (15 December), the São Paulo Court of Justice [State Court of Appeals ruled on the lawsuit filed by Intervozes – Coletivo Brasil de Comunicação Social and condemned Google for “authentic prior censorship” by improperly removing videos from the NGO’s YouTube channel. The company was also ordered to pay  damages of R$ 50 thousand. The contents, which were removed without prior noti...

To embed, copy and paste the code into your website or blog: Companies that sell consumer products worldwide should note the growing convergence between Brazil and the United States for the use of anticompetitive practices laws to prosecute price gouging.  The Brazilian Competition Law (Law No. 12,529/2011) prohibits a non-exhaustive list of anticompetitive practices, including engaging in acts that “arbitrarily increase profits.”  Brazil’s antitrust authority , Conselho Administrativo de Defesa Econômica (“CADE”), however, has not traditionally investigated claims of price gougi...