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Aggressive Liability Theory Does Not Eliminate Obstacles To Banks’ Claims In Target Data Breach Class Action

The latest salvo in the Target data breach litigation is a class action brought by credit card issuing banks advancing a creative and somewhat misleading construction of the Minnesota’s Plastic Card Security Act. The banks...more

The SEC Cybersecurity Roundtable: Indicator of Things to Come?

Starting with the Securities and Exchange Commission's January 2014 announcement that cybersecurity is a priority in its National Examination Program, SEC Chair Mary Jo White and others at the SEC have continued to stress the...more

SEC Holds Cybersecurity Roundtable

On Wednesday, March 26, 2014, the Securities and Exchange Commission conducted a roundtable discussion on cybersecurity and the issues and challenges cyber-threats present for public companies, exchanges, and market...more

Virtual Currency Trade Group Announces Board, Annual Meeting

On March 8, the Digital Asset Transfer Authority (DATA), a trade group launched last year and tasked by its members with “leading regulatory, best practices and consumer protection initiatives for companies in the emerging...more

Trends in Legal Terms in Venture Financings in Israel 2013

Background — We have analyzed the terms of venture financings for Israeli and Israeli-related technology companies that reported raising money during 2013. Our survey does not include financing rounds of less than US...more

OFAC Expands and Clarifies License for Exports of Personal Communications Items and Services to Iran

The Department of the Treasury, Office of Foreign Assets Control (OFAC), amended the Iran personal communications General License D-1 (GL D-1) on Feb. 7, 2014, expanding, clarifying and superseding the May 2013 General...more

What Makes A Bank's Information Security Procedures "Commercially Unreasonable?"

In Patco Construction Co., Inc. v. People's United Bank, a federal court ruled that failing to review and respond to security alerts may render a bank's information security procedures commercially unreasonable. In...more

Charlie Shrem And Why We Need To Change Our Perspective Of Bitcoin

On Monday, January 27, 2013, Charlie Shrem, the 24 year old CEO of BitInstant and Vice Chairman of the Bitcoin Foundation, was arrested for his role operating a Bitcoin exchange service popular among users of Silk Road....more

Italian Technology Start-Ups: light at the end of the tunnel

We attended yesterday the 2014 Disruption Day (thank you Digital Magics!). Here are some of the giveaways. It is great to feel some positive vibes for start-ups and incubators. Despite the overall economic crisis in...more

2013 annual venture investment dollars rise 7%

According to the MoneyTree Report by PricewaterhouseCoopers LLP and the National Venture Capital Association (NVCA), venture capitalists invested $29.4 billion in 3,995 deals in 2013, an increase of 7% in dollars and a 4%...more

New Personal Data Protection Law

On 21 May 2013, the Parliament of the Republic of Kazakhstan adopted the Law “On Personal Data” (the “Personal Data Law”), which entered into force on 25 November 2013. The Personal Data Law affects all commercial and...more

Where to Look: Governmental Sources of Funding for Emerging Companies

Young companies are always looking for sources of capital, but many are unaware of funding sources provided by governmental programs. These programs are typically targeted at specific sectors and are intended to create jobs...more

CFPB Announces First Online Lending Lawsuit

On December 16, the CFPB announced a civil lawsuit against a California-based online loan servicer and its owner, subsidiary, and affiliate for allegedly violating the Consumer Financial Protection Act by collecting money...more

Are You a Target?

As has been widely reported, the popular retail giant Target announced yesterday that it suffered a data breach impacting approximately 40 million credit and debit card accounts used in Target stores across the country...more

Financial Services Quarterly Report - Fourth Quarter 2013: A New Age of Electronic Trading Regulation in Asia?

Hong Kong introduces a new electronic trading regulatory regime with effect from 1 January 2014, when all licensed and registered persons in Hong Kong that conduct electronic trading of securities and futures contracts listed...more

Can you carry out Bitcoins activities in Canada without legal risks?

Bitcoins are a digital currency and have become widespread on the Internet and some companies have begun to accept these items as payment for real goods and services. At the time of writing, Bitcoins are not explicitly and...more

FRB Issues Guidance on Managing Risks from the Use of Third Party Service Providers

The FRB issued guidance on managing outsourcing risks (the “Guidance”), intended to highlight the potential risks arising from the use of third-party service providers, describe the components of an appropriate service...more

PCI DSS 3.0: Business as Usual?

In the past, critics of the Payment Card Industry (PCI) Data Security Standard (DSS) have alleged that the DSS requirements either (1) provide little more than a minimal baseline for security with a “check-the-box” compliance...more

Explore - Insights from DLA Piper Mining Sector (Global)

In This Issue: - Editorial - About our mining sector - Take or Pay Contracts, a double-edged sword - Africa Rising - Protect, Respect and Remedy – Human Rights and the Mining Industry - Mine Your Own...more

FRB Issues Guidance on Managing Third Party Service Providers Risks

The FRB issued guidance on managing outsourcing risks, intended to highlight the potential risks arising from the use of service providers, describe the components of an appropriate service provider risk management program,...more

Bitcoin: Current US Regulatory Developments

In recent months Bitcoin has become a hot topic in the financial, regulatory and legal community and has received widespread attention from newspapers such as The Wall Street Journal and The New York Times. Katten Muchin...more

Silicon Valley Venture Survey - Third Quarter 2013

We analyzed the terms of venture financings for 128 companies headquartered in Silicon Valley that reported raising money in the third quarter of 2013. Overview of Fenwick & West Results - Valuation results in...more

NACHA Proposes Rules To Improve ACH Network Quality

On November 12, NACHA, which manages the development, administration, and governance of the ACH network, released two proposed rules that it describes as complementary approaches to improving ACH Network quality by reducing...more

Fraud Responsibility: Revamp the Rules?

One key provision of Article 4A of the Uniform Commercial Code, which deals with reasonable security measures for banks, needs to be dropped, contends attorney Dan Mitchell, who represented PATCO Construction in a...more

Payment Card Group Refines Data Security Standards

On November 7, the PCI Security Standards Council (PCI SSC), an organization that develops standard for payment card security, released updated data security standards. One standard applies to entities involved in payment...more

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