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EU and U.S. Data Regulations
You have likely already read a great deal more about the implications and requirements of Sarbanes Oxley (SOX) legislation than you would have otherwise liked. The new reporting, data retention and accountability regulations are of obvious import both legally and financially. What is of equal interest, however, for firms that are either multinational or do business overseas is the conceptual differences between this recent U.S. legislation and privacy legislation and regulations adopted in the EU. Essential in understanding where U.S. and EU data regulations conflict or compliment each other is understanding the root motivations behind each set of rules.
U.S.
Created in reaction to the embarrassing corporate defaults and excesses of Enron and WordCom, the U.S. regulations focus on issues of corporate accountability and reporting. Aside from the details about implementation strategies and for SOX compliance, it is important to maintain perspective as to what the intent was of these regulations. Specifically, SOX was about augmenting corporate transparency. The perception had been that a veil of 'deniability' had grown between senior corporate officers and shareholders. SOX strives to remove this veil and ensure that traceable document trails could be preserved regarding all material corporate decisions and forecasts. One may debate the efficacy of the legislation, but the core intent was to increase accountability, preserve a data/document trail, and more rigidly link individuals in a corporate structure to outward communications and actions.
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.
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.
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.
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?