Evidence gathering differs greatly between common law and civil law jurisdictions. For example, while a U.S. judge may in many instances allow extensive pretrial discovery, a French judge would generally consider nearly any...more
4/5/2019
/ Blocking Statutes ,
CLOUD Act ,
CNIL ,
Cross-Border ,
Data Protection ,
Discovery ,
Evidence ,
Extraterritoriality Rules ,
France ,
General Data Protection Regulation (GDPR) ,
Hague Convention ,
Litigation Strategies ,
Regulatory Standards
Technology is rapidly changing the way investment advisers deliver services to their clients. Funds are now using a range of technology solutions, from advanced trading algorithms to artificial intelligence and machine...more
2/4/2019
/ Artificial Intelligence ,
Bias ,
Corporate Governance ,
Data Collection ,
Data Integrity ,
Data Management ,
Data Security ,
Financial Services Industry ,
FinTech ,
Investment Funds ,
Popular ,
Risk Management ,
Transparency
This Update highlights key legal and policy developments in cybersecurity and privacy law that may impact important trends for 2019 and beyond. A central takeaway from 2018 is that regulators in the U.S. and abroad are...more
1/28/2019
/ California Consumer Privacy Act (CCPA) ,
Carpenter v US ,
CLOUD Act ,
Cybersecurity ,
Data Breach ,
Data Protection ,
EU ,
Facebook ,
General Data Protection Regulation (GDPR) ,
Google ,
Hackers ,
International Data Transfers ,
Marriott ,
Microsoft ,
Personal Data ,
Personally Identifiable Information ,
Popular ,
Power Plants ,
Risk Management ,
Russia ,
Securities and Exchange Commission (SEC) ,
Stored Communications Act
On June 28, 2018, the California Consumer Privacy Act of 2018 (CCPA) was signed into law. The bill was drafted and passed quickly, just prior to a deadline for removing a similar initiative from the ballot that would have...more
In its June 22, 2018, decision in Carpenter v. United States, a 5-4 majority of the Supreme Court held that a criminal defendant’s Fourth Amendment rights were violated when the government obtained a court order requiring his...more
6/29/2018
/ Carpenter v US ,
Cell Phones ,
Cell Site Location Information (CSLI) ,
Criminal Convictions ,
Electronic Records ,
Electronically Stored Information ,
Exigent Circumstances ,
Fourth Amendment ,
Geolocation ,
Location Data ,
Probable Cause ,
Reasonable Expectation of Privacy ,
Remand ,
Reversal ,
SCOTUS ,
Third-Party ,
Warrantless Searches
On April 23 2018, the European Commission published a proposal for a Directive (the proposal or the Directive) on whistleblower protections in response to a request from the European Parliament...more
The Clarifying Lawful Overseas Use of Data Act (CLOUD Act) was recently signed into law as part of the omnibus appropriations bill. ...more
5/1/2018
/ CLOUD Act ,
Cloud Storage ,
Criminal Investigations ,
Dismissals ,
Electronically Stored Information ,
Extraterritoriality Rules ,
International Litigation ,
Mootness ,
SCOTUS ,
Search Warrant ,
Stored Communications Act ,
Subpoenas ,
US v Microsoft
After months of steadily increasing supervisory activity in regard to the emerging cryptocurrency sector, it now appears that U.S. financial market regulators may have switched gears and entered the enforcement stage....more
4/2/2018
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
On Feb. 21, the Securities and Exchange Commission (SEC) released interpretive guidance on public companies’ disclosure practices regarding cybersecurity breaches and risks to the public....more
3/1/2018
/ Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Disclosure Requirements ,
Hackers ,
Insider Trading ,
Investment Adviser ,
New Guidance ,
Personally Identifiable Information ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC)
On Aug. 7, 2017, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a risk alert summarizing the results of its second cybersecurity preparedness examination. ...more
On August 7, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert summarizing the results of its second cybersecurity preparedness examination. The...more
Cybersecurity has increasingly moved into the spotlight in recent years, with regulators and financial firms alike clambering to keep pace with rapidly changing demands as threats continue to evolve....more
While the Securities and Exchange Commission (SEC) has garnered significant attention for its increased efforts and focus on regulating and enforcing enhanced cybersecurity measures within the U.S. financial markets, the...more
Judge Trims Proposed Class Action Over Wendy’s Data Breach -
Torres v. Wendy’s Int’l, LLC, No. 16-cv-0210 (PGB) (DCI) (M.D. Fla. Mar. 21, 2017).
A U.S. district court judge in Florida trimmed a proposed class action...more
5/1/2017
/ Advertising ,
Article III ,
Background Checks ,
Class Action ,
Credit Cards ,
Cybersecurity ,
Data Breach ,
Disclosure Requirements ,
Email ,
Fair Credit Reporting Act (FCRA) ,
Fast-Food Industry ,
Federal Trade Commission (FTC) ,
Google ,
Grocery Stores ,
Hackers ,
Hiring & Firing ,
Identity Theft ,
Injury-in-Fact ,
Job Applicants ,
Malware ,
Neiman Marcus ,
Phishing Scams ,
Point of Sale Terminals ,
Retail Market ,
Standing ,
Wendy's
Negative Option Marketing Enforcement Actions in Federal Court -
A negative option is a provision in an offer or agreement to sell or provide any goods or services “under which the customer’s silence or failure to take...more
4/28/2017
/ Biodegradable ,
Cable Television Providers ,
DirecTV ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
FTC Act ,
Internet Retailers ,
Made in the USA ,
Marketing ,
Regulatory Oversight ,
Satellites ,
Subscribers ,
Unfair or Deceptive Trade Practices ,
Websites
The Colgate-Palmolive Company (Tom’s of Maine “Naturally Dry” Antiperspirant), NARB Panel Report No. 215 (Jan. 25, 2017) -
A National Advertising Review Board (NARB) panel determined that the National Advertising...more
4/27/2017
/ Advertising ,
Class Action ,
Colgate ,
False Advertising ,
Jurisdiction ,
Motor Vehicles ,
NAD ,
NARB ,
Natural Products ,
Oil & Gas ,
Shell Corporations ,
Third-Party Risk ,
Unilever
House Passes Fairness in Class Action Litigation Act of 2017 H.R.985 — 115th Congress -
In March 2017, the House passed the Fairness in Class Action Litigation Act of 2017 by a vote of 220-201....more
4/26/2017
/ Advertising ,
Ascertainable Class ,
Beverage Manufacturers ,
CFCA ,
Class Action ,
Class Certification ,
Class Members ,
ConAgra ,
Consumer Fraud ,
False Advertising ,
FRCP 23 ,
Injury-in-Fact ,
Proposed Legislation
Summary Judgment Affirmed for Defendant in Lanham Act Challenge to Statements Concerning Popularity of Advertiser’s Product, Scarcity of Challenger’s Product:
Verisign, Inc. v. XYZ.COM LLC, 848 F.3d 292 (4th Cir. 2017)...more
4/25/2017
/ Adult Entertainment ,
Article III ,
Domain Names ,
False Advertising ,
False Association ,
Foreign Manufacturers ,
Lanham Act ,
Medical Devices ,
Name and Likeness ,
Reputational Injury ,
Standing
OCIE Highlights Frequent Topics for Compliance Deficiencies for Investment Advisers -
On Feb. 7, 2017, the Securities and Exchange Commission’s (SEC’s) Office of Compliance Inspections and Examinations (“OCIE”) published...more
3/2/2017
/ Books & Records ,
Chief Compliance Officers ,
Covered Agreement ,
Custody Rule ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Enforcement Actions ,
Ethics ,
EU ,
Filing Requirements ,
Financial Institutions ,
Financial Services Industry ,
Form ADV ,
Insurance Industry ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
NYDFS ,
OCIE ,
Registered Investment Companies (RICs) ,
Regulatory Oversight ,
Reinsurance ,
Risk Alert ,
Rule 204-2 ,
Securities and Exchange Commission (SEC) ,
Strict Compliance
Last summer, in a closely watched decision, the United States Court of Appeals for the Second Circuit quashed a warrant issued to Microsoft seeking a customer’s electronic communications that the company had elected to store...more
2/3/2017
/ Criminal Investigations ,
Electronically Stored Information ,
Email ,
En Banc Review ,
Extraterritoriality Rules ,
Internet Service Providers (ISPs) ,
Ireland ,
Microsoft ,
Search Warrant ,
Stored Communications Act ,
Subpoenas
Private Fund Advisers, Robo-Advisers, ETFs Among SEC, FINRA Exam Priorities for 2017 -
As the new year begins, U.S. regulators highlighted the areas – some new and some familiar – which will be the focus of their...more
2/2/2017
/ Bail-In Provisions ,
Bank Recovery and Resolution Directive (BRRD) ,
Banks ,
Benefit Plan Sponsors ,
Cybersecurity ,
Department of Financial Services ,
Employee Retirement Income Security Act (ERISA) ,
ETFs ,
EU ,
Financial Industry Regulatory Authority (FINRA) ,
Insurance Industry ,
Investment Adviser ,
NYDFS ,
Private Funds ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC)
Lanham Act False Advertising -
Lanham Act Liability for Native Advertising Violations -
Casper Sleep, Inc. v. Mitcham, --- F. Supp. 3d ---, No. 16 Civ. 3224 (JSR), 2016 WL 4574388 (S.D.N.Y. Sept. 1, 2016)...more
2/2/2017
/ Advertising ,
All Natural ,
Article III ,
Campbell Ewald v Gomez ,
Class Action ,
Consumer Fraud ,
Data Privacy ,
Data Security ,
Enforcement Actions ,
False Advertising ,
Injunctive Relief ,
Jurisdiction ,
Lanham Act ,
Misleading Impressions ,
Mootness ,
NAD ,
NARB ,
Native Advertising ,
Nutrition Facts Labels ,
Offer of Judgment ,
Online Reviews ,
Product Labels ,
Puffery ,
Rule 68 ,
SCOTUS ,
Slack-Fill Suits ,
Spokeo v Robins ,
Standing
On Dec. 28, 2016, the New York State Department of Financial Services (NYDFS) published a revised version of its “Cybersecurity Requirements for Financial Services Companies” (the “Regulations”). The revised Regulations...more
1/7/2017
/ Banks ,
Chief Information Security Officer (CISO) ,
Covered Entities ,
Cybersecurity ,
Data Retention ,
Delays ,
Department of Financial Services ,
Employee Training ,
Encryption ,
Financial Institutions ,
Incident Response Plans ,
Insurance Industry ,
Proposed Regulation ,
Risk Assessment ,
Third-Party Service Provider