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Privacy and Security Obligations of Banks and Financial Institutions: An Overview of Federal Requirements
Businesses and regulators alike are re-evaluating policies, procedures, and systems for protecting private data in light of recent high-profile security breaches. In addition to increased scrutiny from the public at large, financial institutions face a growing body of law addressing the privacy and security of customer data.
Federal, state, and foreign legislators and regulators have contributed to that growing body of law. State and foreign initiatives have received considerable attention. California, for example, created a stir in 2002 by passing SB 1386, which requires any company that stores customer data electronically to notify its California customers of security breaches that affect those customers' personal information. Cal. Civ. Code '1798.82. Less recent but no less prominent, Directive 95/46/EC of the European Union set forth a wide range of privacy and security principles affecting businesses operating in the EU member states and has now been implemented, with variations, by every member state. Council Directive 95/46/EC 1995 O.J. (L 281); see also European Commission, Data Protection, at http://europa.eu.int/comm/justice_home/fsj/privacy/index_en.htm. This article focuses on federal sources of data security obligations for financial institutions, which have received less recent attention than state and foreign sources.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of Licensee
Mission Product Holdings, Inc. v. Tempnology, LLC The question is whether a debtor's rejection of its agreement granting a license "terminates rights of the licensee that would survive the licensor's breach under applicable nonbankruptcy law."