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Developments of Note
NASD Requires 3 Year Instant Message Retention
Noting the “growing presence in business communication” of instant messaging, the National Association of Securities Dealers (NASD) gave notice to members that their basic supervisory and recordkeeping obligations extended to these communications as well. Included among these obligations is the requirement that securities brokers and dealers must save business communications ' including instant message logs – for at least 3 years. The NASD advised that firms unable to establish adequate procedures to supervise or maintain records of instant messages must prohibit their use in the workplace.
Failure to Meet Data Security Privacy Policy Leads to Sanctions
Guess! Inc., facing U.S. Federal Trade Commission (FTC) charges alleging that it misrepresented its online customer data security practices, resolved such charges via an agreement and consent order with the FTC. The FTC alleged that the company posted a privacy policy and FAQ (frequently asked questions) section on its Web site stating its commitment to consumer privacy, including a representation that credit card information was retained in encrypted form. In fact, the FTC said, this information was stored in plain-text form that was vulnerable to common hacking techniques. The settlement, among other things, subjects the company to heavy FTC oversight, prohibits the company from further misrepresentations about security of personal information collected on its site and requires the company to maintain a comprehensive information security program.
French Language Cops Ban “E-mail”
The French government's General Commission on Terminology and Neology ruled on June 20 that the English-derived word “e-mail” can no longer be used in government communications. Instead, the commission announced its preference for the word “courriel” ' a fusion of the French-language term “courrier electronique” (electronic mail). While the commission's ruling stated that “courriel” has already been widely adopted in France, the ruling is not expected to have a major impact on the French technology industry.
of Note was written by Julian S. Millstein, Edward A. Pisacreta and
NASD Requires 3 Year Instant Message Retention
Noting the “growing presence in business communication” of instant messaging, the National Association of Securities Dealers (NASD) gave notice to members that their basic supervisory and recordkeeping obligations extended to these communications as well. Included among these obligations is the requirement that securities brokers and dealers must save business communications ' including instant message logs – for at least 3 years. The NASD advised that firms unable to establish adequate procedures to supervise or maintain records of instant messages must prohibit their use in the workplace.
Failure to Meet Data Security Privacy Policy Leads to Sanctions
Guess! Inc., facing U.S. Federal Trade Commission (FTC) charges alleging that it misrepresented its online customer data security practices, resolved such charges via an agreement and consent order with the FTC. The FTC alleged that the company posted a privacy policy and FAQ (frequently asked questions) section on its Web site stating its commitment to consumer privacy, including a representation that credit card information was retained in encrypted form. In fact, the FTC said, this information was stored in plain-text form that was vulnerable to common hacking techniques. The settlement, among other things, subjects the company to heavy FTC oversight, prohibits the company from further misrepresentations about security of personal information collected on its site and requires the company to maintain a comprehensive information security program.
French Language Cops Ban “E-mail”
The French government's General Commission on Terminology and Neology ruled on June 20 that the English-derived word “e-mail” can no longer be used in government communications. Instead, the commission announced its preference for the word “courriel” ' a fusion of the French-language term “courrier electronique” (electronic mail). While the commission's ruling stated that “courriel” has already been widely adopted in France, the ruling is not expected to have a major impact on the French technology industry.
of Note was written by Julian S. Millstein, Edward A. Pisacreta and
'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
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.
CoStar Wins Injunction for Breach-of-Contract Damages In CRE Database Access Lawsuit
Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.
The Power of Your Inner Circle: Turning Friends and Social Contacts Into Business Allies
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.