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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
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.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
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.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?