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Securities and Exchange Commission (SEC) Enforcement Actions Mobile Apps

Sheppard Mullin Richter & Hampton LLP

What Private Equity Firms Need to Know About the Ongoing SEC Investigation of “Off-Channel” Communications

Over the last several years, the Securities and Exchange Commission (“SEC”) has been laser-focused on the use of so-called “off-channel communications” in the financial services industry. On the theory that employees’ use of...more

BakerHostetler

SEC and CFTC Show No Signs of Slowing Down Enforcement Actions for Financial Firms’ Use of Off-Channel Communications

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The settlements announced by the SEC and CFTC on Monday are a continuation of the regulators’ focus on off-channel communications by employees of registered entities....more

Perkins Coie

DOJ Issues New Guidance on Use of Personal Devices and Third-Party Messaging Applications

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The U.S. Department of Justice (DOJ) announced significant new guidance on March 3, 2023, regarding the use of personal devices and the retention of corporate communications. The DOJ’s concern regarding the use of personal...more

Katten Muchin Rosenman LLP

What's Up With WhatsApp? Regulators Recently Fine Firms $1.8 Billion in Aggregate for "Off-Channel" Communications

Recent alleged recordkeeping failures resulted in aggregate fines in excess of $1.8 billion levied against 11 Wall Street financial institutions and many of their affiliated entities by the Securities and Exchange Commission...more

Hanzo

Compliance Update: Unauthorized Messaging Apps Lead to 1.8B in Fines

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According to a recent press release from the Securities Exchange Commission (SEC), sixteen Wall Street firms were fined for widespread and longstanding failures by the organizations and their employees to maintain and...more

Patterson Belknap Webb & Tyler LLP

SEC Reaches Settlement with App Annie: Alternative Data and Implications for Investors

On September 14, 2021, the SEC announced it had reached a settlement with “a leading alternative data provider,” App Annie, and its co-founder and CEO, Bertrand Schmitt, to settle securities fraud charges related to their...more

Dechert LLP

Dechert Cyber Bits - Issue 10

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SEC Proposes New Cybersecurity Rules for Public Companies - On March 9, 2022, the Securities and Exchange Commission (“SEC”) announced proposed amendments to its rules on cybersecurity. The proposed rules aim to “enhance and...more

Sheppard Mullin Richter & Hampton LLP

Implications of SEC’s Scrutiny of Data Use Representations

The SEC’s enforcement action with a leading seller of market data (App Annie Inc.) signals its concern with misleading data use representations. While the data at issue was not “personally identifiable” information, but...more

ArentFox Schiff

Privacy Update: FCC Seeks Public Comment on the Current and Future Regulation of the "Internet of Things"

ArentFox Schiff on

FCC Seeks Public Comment on the Current and Future Regulation of the “Internet of Things” - The FCC is requesting public comment in a proceeding that will help determine the scope and nature of regulation of the “Internet of...more

Proskauer Rose LLP

SEC Brings First Enforcement Action Against Alternative Data Provider

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Yesterday, the Securities and Exchange Commission (“SEC”) filed a settled securities fraud action against App Annie Inc., one of the largest sellers of market data on how apps on mobile devices are performing, and its...more

Robins Kaplan LLP

Financial Daily Dose 1.15.2020 | Top Story: Dating Apps Face Scrutiny for Likely Data Privacy Violations

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Popular app-based dating services—from Tinder to OkCupid to Grindr—are the subject of unwanted scrutiny this week after a report by the Norwegian Consumer Council that they’re “spreading user information like dating choices...more

Polsinelli

BitBlog Weekly Update

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The Polsinelli BitBlog Weekly Update begins with the U.S. Securities and Exchange (“SEC”) settlement with an issuer of securities, who managed to both illegally offer securities, and create an unlicensed exchange to trade...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - June 2019 #2

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Protection of industrial control systems is crucial to the security of our country. The National Cybersecurity Center of Excellence (NCCoE) has announced a project for which it is seeking comment: Detecting and Protecting...more

Robins Kaplan LLP

Financial Daily Dose 6.5.2019 | Top Story: SEC Votes Today on New Broker Conduct Standards

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The SEC will vote today on what it’s calling Regulation Best Interest, “which says brokers can’t put their own paychecks ahead of a customer’s needs”—the more-industry-acceptable revision of an Obama-era fiduciary duty rule...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Elon Musk and the SEC have reached an agreement to revise their earlier agreement to settle the latest round of issues caused by Musk’s Twitter habit. Under its terms, a Tesla securities attorney must now “preapprove any of...more

Akin Gump Strauss Hauer & Feld LLP

In Principle: 10 Things Authorised Firms Need to Know for 2018 – The World of Financial Regulation as the UK Prepares to Exit the...

There is much for authorised firms to consider in the year ahead. Firms have been through the intensive period of the enactment of the second Markets in Financial Instruments Directive (MiFID II), but must now step up their...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Breakingviews on Broadcom’s threat to Qualcomm’s board in the form of a slate of 11 director nominees for the company it has, so far, unsuccessfully attempted to purchase....more

Stinson LLP

Emerging Trends Newsletter - Q3

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We are thrilled to bring you the third installment of Stinson Leonard Street's Emerging Trends newsletter. We are proud of the depth and breadth of experience and knowledge across our firm's 13 offices nationwide and are...more

Dorsey & Whitney LLP

SEC Brings An Offering Fraud Action Against A Claimed App Maker

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The SEC brought an action against a reputed “app” manufacturer who sold shares in two different entities beginning first in Colorado and later from Georgia. From each location, and for each entity, the sales pitch was...more

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