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Communications & Media Securities Privacy

Read need-to-know updates, commentary, and analysis on Communications & Media issues written by leading professionals.

SEC Emphasizes Cybersecurity Preparedness in Wake of Global Ransomware Attack

by Ballard Spahr LLP on

The U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE) has issued a Risk Alert in the wake of the widespread WannaCry ransomware attack that has inflicted hundreds of thousands...more

SEC Warns of Ransomware Attacks

The U.S. Securities and Exchange Commission is asking broker-dealers, investment advisers and funds to redouble their cybersecurity efforts in wake of the global cyber-attack of the WannaCry virus that has spread to more than...more

SFC Proposes Baseline Cyber Security Requirements for Internet Trading

by Hogan Lovells on

The Hong Kong Securities and Futures Commission (“SFC”) has issued a paper containing proposals to introduce cyber security guidelines under the Securities and Futures Ordinance (the “SFO”) applicable to internet brokers (the...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A series of cyberattacks featuring ransomware rocked the world this weekend, and the aftershocks “could linger” for a while....more

Yahoo Breaches Cost Shareholders $350 Million From Lowered Purchase Price, CEO Forfeits $14 Million in Compensation

Yahoo’s troubles for failing to timely disclose security breaches provides rare insight into quantifying the financial and other costs to a company’s shareholders and leadership when a security breach occurs and is...more

A Deep Dive into Privacy/Security Disclosures in Snap’s S-1

Last week, Snap Inc. (“Snap” or the “Company”) – the parent company of the wildly popular app Snapchat (“Snapchat” or the “App”) – became a publicly traded company on the New York Stock Exchange in the biggest tech IPO since...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

After months of anticipation, yesterday was finally official Snap IPO day. And despite losses of more than $500 million last year, the company saw willing investors flock to buy the $17 shares, pushing Snap’s valuation to...more

Yahoo Data Breach Update: A Third Notification + Shareholders Sue

Last week, Yahoo issued another warning to some of its customers telling them that their personal information may have been compromised in a data breach. This is the third notification to Yahoo users that their information...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

China’s expected to announce Q3 economic growth of 6.7 percent this week—a number envied by any other country in the world but the sign of major slowdown there. Dealbook looks at what, exactly, a less-gangbusters Chinese...more

Facebook v. Vachani – User Authorization Can Be Revoked By Service Providers

The U.S. Court of Appeals for the Ninth Circuit recently issued a decision that could have far reaching implications for the relationships between companies that provide online services, their customers or users, and third...more

Changes afoot in China cyber and data laws

by DLA Piper on

Significant developments have been announced by the Chinese Government in recent weeks in relation to cyber security, data handling and online activities. Organisations doing business in the People's Republic of China are...more

What's Coming in 2016? Data Security, Social Media and a Busy SEC

by Sullivan & Worcester on

Data Security and Data Breaches! No surprises here. We’re getting a little fed up with spectacular stories about compromised personal data, but there is no doubt 2016 will show us more, and companies are adapting and...more

Financial Services Weekly News - November 2015 #3

by Goodwin on

Regulatory Developments - MSRB Publishes Compliance Advisory for Municipal Advisors: On Nov. 12 the Municipal Securities Rulemaking Board (MSRB) published its first municipal advisor compliance advisory, developed...more

Following the Wisdom of the Crowd? A Look at the SEC’s Final Crowdfunding Rules

by Morrison & Foerster LLP on

In this alert, we provide a detailed overview of the final rules, Regulation Crowdfunding, which will be applicable to crowdfunding offerings conducted in reliance on Section 4(a)(6) of the Securities Act of 1933 as amended...more

A Compilation of Enforcement and Non-Enforcement Actions

by Foley & Lardner LLP on

Non-Enforcement - SEC Decides Against Mounting an Appeal in Koch Ruling - The July 2015 ruling by the D.C. Circuit Court in Koch v. SEC will apparently not be challenged by the SEC. The Court ruled in that...more

The SEC Opens Up a New Front in the Cybersecurity Wars

For the last few years, the SEC has been issuing guidance as to appropriate cybersecurity policies and procedures for financial firms. In a move that signal’s the regulator’s willingness to put muscle into its cybersecurity...more

What is reasonable? The emerging legalities of cybersecurity post-Wyndham

This month’s edition of the Advanced Cyber Security Center’s newletter includes my discussion of lessons to be learned from the Wyndham decision: Historically, security was an issue reserved in a back room for the IT...more

SEC Seeks Increased Access to Email

by Michael Volkov on

Jacqui Merrill, an Associate at The Volkov Law Group, joins us with a posting on the SEC’s request for increased access to emails. In a Senate Judiciary Committee meeting held on September 16, 2015, Securities and...more

Privacy in financial markets, not to be ignored

by Reed Smith on

The Article 29 Working Party published a letter it sent to the European Commission urging it to consider the data protection and privacy issues when adopting the secondary regulations (‘Regulations’) necessary to implement...more

Shareholders sue mobile security firm for failing to disclose hacking incident before IPO

MobileIron, Inc. was sued late last week by shareholders in a proposed class action for allegedly failing to disclose a hacking incident just weeks before its initial public offering (IPO). The suit, filed on behalf of...more

Assessing cybersecurity risks and protecting consumer data before filing for an IPO in the age of the Internet of Things

by Robinson & Cole LLP on

In May of this year, Fitbit Inc. (Fitbit) filed for an Initial Public Offering (IPO) for upwards of $100 million. With more and more consumers using wearable devices, privacy concerns have skyrocketed. However, since 2011,...more

Fitbit Files for IPO: Cybersecurity Risk Disclosure

Fitbit, the fitness-tracking company with six wearable devices that track and collect data about things like calories burned, steps logged, “quality” of sleep and sleep patterns, heart rate, etc.) as well as web and mobile...more

Televised Hearings and FOI Requests: Recent Developments in Securities Commission Practice

The hearing process before the British Columbia Securities Commission (Securities Commission) will be influenced by two important decisions: one from the Securities Commission itself, relating to televised hearings; and...more

Status Updates - June 2014 #6

Debt collectors are using social media more and more frequently to try to track down people who owe money, but they are bound by restrictions in the Fair Debt Collection Practices Act when they do so, just as if they used...more

A Compilation of Enforcement and Non-Enforcement Actions - 04/30/14

by Foley & Lardner LLP on

Enforcement Matters: Improper Calculation of Client Advisory Fees Results in Enforcement Action - In a recent action (In the Matter of Transamerica Financial Advisors, Inc., Investment Advisers Act Release No....more

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