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Another Bumpy Week for Equifax: Virus Hits Website, IRS Suspends Contract and Hacked UK Residents Notified

It was another chaotic week for Equifax Inc., still scrambling to stem the torrent of bad news after its massive data breach last month that has potentially affected more than half of the U.S.’s adult population....more

Europe: Blockchain – Practical and legal challenges

by Hogan Lovells on

The increasing digitization of the private as well as economic realm is undeniable. The European Commission is constantly pushing the Digital Single Market forward. In the same breath as the ubiquitous phenomenon of...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

If Netflix is to be believed (and, you know, it is a public company), there’s a LOT more Stranger Things and House of Cards on the way... Turns out Nelson Peltz’s failed quest for a P&G board seat was crazy close. As in,...more

Plaintiffs’ Lawyer Predicts $1 Billion Settlement in Data Breach Case – But Where’s the “Harm”?

by Orrick - Trust Anchor on

This week, a high profile plaintiffs’ firm (Edelson) stated that “if done right,” the data breach class actions against Equifax should yield more than $1 billion in cash going directly to more than 143 million consumers...more

Key Regulatory Topics: Weekly Update - 6 October 2017 – 12 October 2017

by Allen & Overy LLP on

BREXIT - Uncorrected evidence relating to Brexit from House of Lords Select Committee on European Union - On 12 October, the HoL Select Committee on the EU published an uncorrected transcript of oral evidence taken from...more

Not out of the woods yet: What the lifting of Sudan sanctions means for businesses and non-profits

by Hogan Lovells on

Yesterday, on October 12, 2017, the U.S. permanently revoked most sanctions against Sudan. This lifting represents the completion of a process that began in January 2017, and was extended in July 2017. ...more

What’s the current landscape for CFTC cryptocurrency regulation?

by Thompson Coburn LLP on

As cryptocurrencies such as Bitcoin enter the mainstream, entrepreneurs are exploring business models that may depend on compliance with regulatory constraints. This short article summarizes the cryptocurrency regulatory...more

States Respond to Equifax Cyber Breach with Enforcement Actions and Calls for Enhanced Regulatory Powers

In the wake of last month’s historic cyber breach of Equifax, which resulted in the theft of sensitive personal information belonging to over 140 million Americans, states have wasted no time in seeking a greater role in...more

Wild West No Longer: The SEC Brings Enforcement Actions Against Two Initial Coin Offerings

Ending months of speculation about when regulators would wade into the world of Bitcoin and other digital currencies, the U.S. Securities and Exchange Commission (“SEC”) recently brought its first enforcement actions against...more

Are banks ready for the Internet of Things revolution?

by DLA Piper on

The Internet of Things will change business models in the financial services sector - and at the same time create new legal issues. Much has been discussed about the impact of FinTech on traditional banks and the need for...more

FinTech Highlights from CFTC Chairman Giancarlo’s Testimony Before House Agricultural Committee

by Perkins Coie on

Earlier this week, CFTC Chairman Christopher Giancarlo testified before the House Agricultural Committee. The following are highlights of “Fin Tech” issues addressed during the course of that testimony....more

SEC Cautions on Use of Distributed Ledger/Blockchain Technology to Raise Capital

by Carlton Fields on

In July, the SEC issued a report addressing the applicability of U.S. federal securities laws to the offer and sale of securities by "virtual corporations or capital raising entities that use distributed ledger or blockchain...more

Day 9 of One Month to More Effective Compliance for Business Ventures - Post-Acquisition Integration Plan

by Thomas Fox on

Your company has just made its largest acquisition ever and your Chief Executive Officer (CEO) says that he wants you to have a compliance post-acquisition integration plan on his desk in one week. Where do you begin? Of...more

Across the Board-Episode 7, Brad Davis on the Board's Role in Data Security Oversight

by Thomas Fox on

In this episode I visit with data and IT security expert Brad Davis, CEO of EverSolve, a company specializing in data security. We discuss the role of the Board of Director's in data and IT security in both oversight and...more

SEC Brings First Enforcement Action Related to Initial Coin Offerings

by Jones Day on

The Situation: Promoters of two recent initial coin offerings face charges of investor fraud brought by the SEC, after allegedly misrepresenting the assets purportedly backing the offerings, exaggerating the amount of funds...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Peltz/P&G drama continues, with the company suggesting that Trian has lost its bid for a Board seat and the fund arguing that it disagrees with the company’s counting of the ballots....more

Day 8 of One Month to More Effective Compliance for Business Ventures-Post-Acquisition Integration Dates

by Thomas Fox on

Previously many compliance practitioners had based decisions in the M&A context on DOJ Opinion Release 08-02 (08-02), which related to Halliburton’s proposed acquisition of the UK entity, Expro. In 2011, the Johnson & Johnson...more

Compliance into the Weeds-Episode 57-SOX Reform or Not?

by Thomas Fox on

In this episode Matt Kelly and I discuss the Treasury Department’s recently released A Financial System That Creates Economic Opportunities-Capital Markets report. The report has multiple proposals, including multiple ideas...more

Draft Fintech Law bill introduced in Mexico

by White & Case LLP on

On September 18, 2017, the Ministry of Finance and Public Credit (SHCP) submitted to the Mexican Federal Commission for Regulatory Efficiency (Comisión Federal de Mejora Regulatoria, COFEMER) the draft bill of the Law...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A roundup on Richard Thaler, the U Chicago professor named Monday as the winner of this year’s Nobel Prize in economics for his groundbreaking work in behavioral economics (and the consistently irrational human nature)....more

Equifax Flunked Index Provider’s Cybersecurity Test A Year Ago

A financial index provider foretold the Equifax Inc. data breach more than a year ago, warning that the rating agency “is vulnerable to data theft and security breaches.”...more

The SEC Gets Hacked: What Now?

by Nossaman LLP on

It was recently revealed that the Securities and Exchange Commission’s (“SEC”) EDGAR database, which is used by public companies to file official documents, was breached. According to the SEC, trading off of that hacked...more

SEC Brings Fraud Action Against ICO Creator

In its first lawsuit targeting Initial Coin Offerings (ICOs), the Securities and Exchange Commission (SEC) has filed fraud charges against the creator of the ICOs marketed as “REcoin” and “DRC.” The action, filed in the...more

Compliance Man Goes Global-Episode 3

by Thomas Fox on

I welcome you to Episode 3 of Compliance Man Goes Global podcast of FCPA Compliance Report International Edition. As always, I am joined by Timur Khasanov-Batirov, a practitioner who focuses on embedding compliance programs...more

SEC Gets Tough on ICOs, Files First Fraud Case

The SEC has filed charges against multiple ICO sponsors alleging securities law violations. The Securities and Exchange Commission (the Commission) has put its digital money where its mouth is. After concluding in a July...more

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