On November 19, 2012, 40 German advertising associations launched the “German Data Protection Council for Online Advertising,” a new initiative to coordinate and enforce self-regulation in the German online behavioral advertising (“OBA”) sector. The initiative is linked to the European Interactive Digital Advertising Alliance (“EDAA”), which manages the self-regulation efforts of the European online advertising industry ...
In late October 2012, California Attorney General Kamala D. Harris began sending letters to approximately 100 mobile app operators, informing them that they are not in compliance with the California Online Privacy Protection Act (“CalOPPA”) ...
On November 13-15, 2012, delegates at the IAPP Europe Data Protection Congress in Brussels were given insight into how discussions with key policymakers are progressing. As European Parliament rapporteur and Member of the European Parliament Jan Philipp Albrecht aims to finalize the reform of the EU Data Protection Directive by the end of the current European Parliament’s mandate in 2014, this ambitious goal faces numerous hurdles ...
On November 20, 2012, the UK Information Commissioner’s Office (“ICO”) published “Anonymisation: Managing Data Protection Risk Code of Practice” (the “Code”). The purpose of the Code is to provide organizations with a framework for assessing the risks of anonymization ...
Reporting from Washington, D.C., Hunton & Williams partner Frederick Eames writes: Elections have consequences. What are the consequences of the 2012 election on U.S. federal privacy, data security and breach notice legislation? We outline some key developments in the U.S. House of Representatives and Senate and explain how these developments might affect legislative priorities and prospects for the 113th Congress beginning in 2013.U.S. House of RepresentativesThree committees in the U ...
Two recent decisions of the Court of Appeal Remind us of the duty on Investment Advisors and Financial Securities Advisors to know their client and the correlative duty of the information. In both cases, the Court of Appeal held that the Advisor has breached his duty to know his client, assess the Client's needs, and inform and advise the Client. Both cases also dealt with the Client's possible contributory negligence ...
On October 24, 2012, the Harper government announced its intentions to enact new regulations to protect consumers who use prepaid credit cards in order to broaden their options regarding the forms of payment that best suit their needs. Such prepaid payment products allow consumers to make purchases or cash withdrawals through a payment network like American Express, MasterCard or Visa, with funds that have been paid in advance to a financial institution ...
North Carolina’s banking laws have been comprehensively updated for the first time in 80 years and provide the state with one of one of the most modern banking systems in the country. Effective October 1, 2012, the bipartisan legislation is a product of compromise and joint effort on the part of legislators, banks and consumer advocates ...
In a time when foreclosures are all too common, many secured lenders end up taking title to the real properties securing their loans. One of the questions, then, is should a lender obtain an owner’s title insurance policy or is the loan title insurance policy sufficient?As we all know, title insurance reduces the risk of the insured owner or lender by insuring one or both against loss or damage arising out of defects to or liens on title ...
Is your community bank or holding company still a public company? Are you making periodic filings — 10-K's, 10-Q's, 8-K's, Proxy Statements — to the SEC or your primary federal bank regulator? Are you still subject to Sarbannes-Oxley (SOX)? Why? A large number of community bank holding companies have filed to deregister from reporting to the Securities and Exchange Commission (SEC) ...
On November 7, 2012, the Federal Trade Commission announced that it had settled charges against payday lending and check cashing companies alleged to have improperly disposed of consumers’ personal information. In its complaint, the FTC maintained that PLS Financial Services, Inc ...
A federal court recently held that two investment funds are not jointly and severally liable for a bankrupt portfolio company’s withdrawal liability to a multiemployer pension plan disagreeing with a 2007 opinion by the Appeals Board of the Pension Benefit Guaranty Corporation (the “PBGC”). The Massachusetts U.S. District Court ruled there was no liability because the investment funds are not “trades or businesses” for purposes of ERISA’s joint and several liability rules ...
If you a trader, financial analyst or other financial technocrat and are thinking of setting up a fund, then the British Virgins Islands is probably your best bet. In today’s financial environment, investor capital for a start up fund can be hard to come by ...
On October 26, 2012, three resolutions were adopted by the closed session of the 34th International Conference of Data Protection and Privacy Commissioners and have been published on the conference website. Below we provide an overview of these resolutions ...
On May 14, 2012, the Honourable Normand Gosselin, J.S.C., ruled on an amended motion seeking the sanction of a plan of arrangement concerning a debtor, Norgate Metal Inc. ("Norgate").1 The judgment is special in that Norgate asked the court to annul some of the votes that had been cast against the plan of arrangement. Norgate submitted that the only reason why the creditors who cast those votes had voted against the plan was that they wished to eliminate a competitor from their industry ...
On August 30, 2011, Hart Stores Inc./Magasins Hart inc. ( hereinafter “Hart”), filed for protection under the Companies’ Creditors Arrangement Act (hereinafter the “CCAA”). As part of the restructuring, Hart closed down 32 out of 92 points of sale and laid off 640 out of 1,600 employees. Included in the lay off are five executives, who are the subject of this bulletin.The executives were all laid off by means of a simple notice of termination ...
According to a group of women who filed a lawsuit last week, Maybelline should pay up for making false claims about its “Super Stay” lipstick products. Filed in federal court in Manhattan, the complaint seeks declaratory relief and damages under several states’ consumer protection laws. From the defense perspective, this is the latest attempt at a “no injury” class action where no actual injuries or damages exist ...
The Federal Attorney-General has released a Discussion Paper seeking comment on whether to introduce laws to make notification of data breaches by government agencies and large private sector entities mandatory in Australia. The Government is calling for submissions by 23 November 2012, asking what the triggers should be and what penalties should apply for failure to comply ...
In an increasingly online world, international businesses can no longer rely on discrete legal advice relevant to only one jurisdiction. It is crucial to know where best to bring (or threaten) legal proceedings to achieve maximum impact globally. Two recent, high profile cases have thrown the spotlight on what can be achieved by courts of different jurisdictions to defend online reputations ...
On October 17, 2012, there was published in the Federal Official Gazette an executive order issuing the Federal Act to Prevent and Identify Illegally-Funded Transactions. The purpose of the Act is to track and investigate activities and transactions involving resources illegally obtained ...
The Information Commissioner's Office (ICO) recently fined an organisation £250,000 fter its outsourcing vendor carelessly dumped confidential financial data in ublic recycling bins. This incident provides a stark reminder to organisationsthat they remain legally responsible for personal data, even where they utsource data processing activities to third parties ...
We live in a society that is obsessed with appearance, and studies show that many people equate appearance to success. While employers may not be aware of these studies, some are trying to control appearance in the workplace by imposing weight restrictions on job applicants or employees as a condition of employment.Whether these policies are permissible can only be answered with a “maybe ...
Earlier this year, the Inquiry regarding Procurement Services published its opinion "The future for the Procurement Assistance". The Inquiry’s mission is to propose how procurement assistance should be coordinated in order to increase competence, availability, consistency and visibility for procurement market participants ...
On October 1, 2012, changes in Regulation (2003:770) on government authorities’ electronic information exchange enter into force. The changes involve an obligation for a number of government authorities to implement e-commerce, and from May 31, 2013 handle all of their orders for supplies and services electronically. In this article Kristian Pedersen and Ingrid Sandstedt present the new rules ...
While the European Commission’s extensive modernization of the state aid rules proceeds, Sweden will have to wait for a national legislation regarding the application of the European Union’s state aid rules since the legislative process has been delayed. As case law from the Swedish courts show, Swedish administrative courts have to assess state aid cases by applying the Swedish Act on Local Governance ...
