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How to Avoid Regulatory Sting
As this article is being written, Visa USA is set to announce newly updated information security guidelines that cover all merchants, member banks, service providers and software vendors (who build, for example, point-of-sale and e-commerce applications) ' and those who process, transmit, or store credit or payment card data. The standards will also be accepted and endorsed by MasterCard, Discover, Diners, JCB and American Express. The newly revised standards resolve differences in how the industry has been evaluating security compliance and in doing so, support on-going efforts for combating fraud, which Visa estimates has now dropped to a historic low of five cents on every one-hundred dollars of transaction volume. Fail to comply with the new standard and suffer a breach, and a member organization could be facing fines of up to $500,000 from Visa.
The payment card industry is not the only focus of new regulatory concerns. Suddenly, information security is no longer a techie-only issue ' compliance with regulatory standards is clearly now a governance and fiduciary duty with severe financial impact for failures and substantial liability from future litigation. For example, leak private information about residents of over 20 states and you may have to publicly announce the breach ' events that have made headlines from ChoicePoint and Card Systems, both of which now face shareholder lawsuits and materially eroded customer and investor confidence.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
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.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?