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Financial Services Weekly News - July 2017 #2

by Goodwin on

Editor's Note - In This Issue. After making a splash with the finalized version of its Arbitration Rule, the Consumer Financial Protection Bureau (CFPB) proposed temporary adjustments to the reporting requirements for...more

SEC Chairman Clayton Talks Cyber Threats And Responses

by King & Spalding on

On July 12, 2017, U.S. Securities and Exchange Commission Chairman Jay Clayton made his first public speech as head of the Commission, emphasizing the need for coordination between companies and regulators to thwart cyber...more

President Trump Changes Course On Joint “Cyber Security Unit” With Russia

by King & Spalding on

On Sunday, July 9, 2017, coming out of the G20 Summit during which President Trump had met with Russian President Vladimir Putin for over two hours, Trump tweeted that he and Putin “discussed forming an impenetrable Cyber...more

The Impact of the General Data Protection Regulation on Responses to Data Breaches Involving EU Personal Data

by McDermott Will & Emery on

The forthcoming General Data Protection Regulation will expand the legal obligations of companies that process EU personal data when they suffer a data breach. Every company faces the risk of a data breach that might trigger...more

Twilio Narrowly Avoids TCPA Lawsuit Liability

by Klein Moynihan Turco LLP on

On July 12, 2017, the United States District Court for the Western District of Washington dismissed a putative class action complaint filed against Twilio, Inc. (“Twilio”), alleging that the platform had violated the...more

China Drafts Legislative Rules Regarding Cross-border Data Transfers

by Morgan Lewis on

The draft legislation provides further guidance on the regulations provided in the recent cybersecurity law, including definitions and details on the security assessments required for cross-border data transfers....more

UK Data Protection Authority Publishes International Strategy

by King & Spalding on

The United Kingdom’s Information Commissioner’s Office (“ICO”) has published its international strategy for 2017-2021, which sets out the UK’s strategy for its relationship with the European Union on data privacy matters...more

McNees Advocate Alert - July 2017

In February 2016, a computer hacker sent an e-mail infected with a “ransomware virus” to an employee of the town of Medfield, Massachusetts. When the e-mail was opened, the virus spread throughout the town’s computer network,...more

The State AG Report Weekly Update

by Cozen O'Connor on

Republican Chess Bedsole Announces Bid for Alabama Attorney General- Chess Bedsole, who previously served as the Alabama campaign chairman for President Trump, announced his candidacy to become the Alabama AG. Bedsole is...more

New FTC Guidance on Children’s Online Privacy Protection Act

by Morgan Lewis on

In May 2017, Senator Mark Warner of Virginia sent a letter to the Federal Trade Commission (FTC) raising concerns about the security of data collected, transmitted, and/or stored by internet-connected products geared toward...more

HIPAA in the Age of Ransomware

According to a recent US Government Interagency report, ransomware is the fastest growing malware threat, targeting users of all types, including health care facilities. This past spring, for example, the WannaCry ransomware...more

Timely Reminder: Lawyers’ Ethical Obligations and Technology

by Morgan Lewis on

In June 2017, companies, government entities, and law firms faced a global ransomware attack from a type of malware where attackers lock certain data or components of a system and demand payment in exchange for returned...more

LabMD – FTC Face-Off Continues Over FTC’s Data Privacy Authority

by Patrick Law Group, LLC on

The U.S. Court of Appeals for the Eleventh Circuit recently heard oral arguments in LabMD, Inc. v. Federal Trade Commission, the long-running dispute over the FTC’s authority to impose liability for data security breaches...more

Privacy Tip #95 – Echo Show Drop In Feature

I don’t own an Echo, and Alexa is not listening to all of the conversations in my home. If that were the case, I would have no credibility in writing weekly Privacy Tips....more

DeepMind Deal with NHS Trust Reveals Privacy Concerns

Back in 2015, DeepMind, a Google company, signed a deal with the Royal Free NHS Foundation Trust. The deal allowed DeepMind access to 1.6 million patients health information as well as the ability to develop an app called...more

Increasingly Sophisticated And Damaging “NotPetya” Cyber Attack Highlights Importance Of Timely Update

by King & Spalding on

Last Tuesday morning, June 27, 2017, a version of the “Petya” malware attack—dubbed “NotPetya”—hit several multinational companies in a variety of industries. This is the second major cyber attack in just two months following...more

Illinois “Geolocation Privacy Protection Act” Passed By Legislature

by King & Spalding on

On June 28, 2017, the Illinois General Assembly passed a bill limiting the collection and use of geolocation information obtained via smartphones. The bill now heads to Governor Bruce Rauner’s desk for signature or veto. ...more

IoT Device Companies: Add COPPA to Your “To Do” Lists

by Patrick Law Group, LLC on

Last week, the Federal Trade Commission (FTC) updated its guidance on the Children’s Online Privacy Protection Act (COPPA). COPPA and the FTC’s related COPPA Rules establish guidelines to protect children under the age of 13...more

Stolen Tax Returns? Virginia Seeks a Solution.

Did someone steal your tax return? You are not alone. Indeed, the rise in tax-related identity theft has been well documented. In 2015, the FTC reported a 50% increase in identity theft complaints. A primary cause for...more

Financial Services Quarterly Report - Second Quarter 2017: China Cybersecurity Law: Key Takeaways for Financial Services Firms in...

by Dechert LLP on

China’s Cybersecurity Law came into force on 1 June 2017, despite speculation that there would be a delay in its launch. The new law covers a wide range of activities relating to the cyberspace, including personal data...more

FTC Updates COPPA Guidance

by Ballard Spahr LLP on

The Federal Trade Commission (“FTC”) released an updated version of its guidance on complying with the Children’s Online Privacy Protection Act (“COPPA”) on June 21, 2017. Companies that collect personal information from...more

Get ready for changes to Canada’s anti-spam law

July 1, 2017, is not just Canada’s 150th birthday. It is also the day when important changes to Canada’s anti-spam law (“CASL”) come into force. CASL gets much tougher on July 1, 2017, the 150th anniversary of Confederation....more

South Korea Joins APEC Cross-Border Privacy Rules System

by King & Spalding on

On June 12, 2017, South Korea’s Communications Commission announced that it joined the Asia-Pacific Economic Cooperation (“APEC”) Cross-Border Privacy Rules System (“CBPR”), a voluntary initiative that helps protect...more

FTC Issues Update on COPPA

Last week, the Federal Trade Commission (FTC) issued a six-step compliance plan to assist businesses with compliance with the Children’s Online Privacy Protection Act (COPPA). It provides clarity on who is covered by and must...more

Advertising Law - June 2017 #5

Full Disclosure: Instagram to Help Influencers With Compliance - On the heels of dozens of letters sent by the Federal Trade Commission (FTC) to influencers and marketers, cautioning them to make appropriate disclosures on...more

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