Monetary Authority of Singapore Invites Applications for New Digital Bank Licences

On August 29, 2019, the Monetary Authority of Singapore (MAS) announced that it will begin accepting applications for new digital bank licenses. Interested parties have until December 31 to submit their applications. This follows the MAS’ initial announcement in June to issue up to two digital full bank (DFB) licenses and three digital wholesale bank (DWB) licenses, effectively opening up digital bank licenses to nonbank players.

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Where Does Privacy Go From Here: California, EU and Indian Data Privacy Laws and Global Compliance Programs

This article first appeared on Thomson Reuters Regulatory Intelligence.

The summer of 2018 may be regarded as a pivotal time in the history of data privacy laws. The European Union’s General Data Protection Regulation (GDPR) came into effect in May 2018, the California Consumer Privacy Act (CCPA) was signed into law in June 2018 (and comes into effect on January 1, 2020), and a draft of India’s Personal Data Protection Bill (India DP Bill) was released in July 2018 (and is now under review by India’s government).

These developments, and more generally, the recent proliferation of data privacy laws around the world (notably, in Australia, China, Brazil, Hong Kong, and Singapore) represent a compliance challenge for many multinational organizations.

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11th Circuit Rules Single Text Message Not Sufficient for Article III Standing

Creating a circuit split, the U.S. Court of Appeals for the Eleventh Circuit has held that receiving a single unwanted text message is not enough to confer standing, even if the text violated the federal Telephone Consumer Protection Act (TCPA). The court disagreed with a Ninth Circuit ruling that reached the opposite conclusion in 2017. In so doing, it gave new life to an argument defendants may use to fend off class actions under the TCPA.

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Carpenter and Everything After: The Supreme Court Nudges the Fourth Amendment into the Information Age

*This article was first published by the American Bar Association Infrastructure and Regulated Industries in Summer 2019.

Every year, as the calendar turns to June, the legal community looks to the Supreme Court. Eager to get to the Term’s end, the Justices rush to complete all of the outstanding opinions. Since the most difficult and important cases usually take the longest to work out, they are typically the stragglers. June is thus the time when the “blockbuster” opinions are issued—the cases that law professors analyze in their tenure pieces and that law school students study, quite possibly for years to come.

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FTC’s Authority to Obtain Monetary Relief is in Doubt

The U.S. Court of Appeals for the Seventh Circuit has struck a major blow to Federal Trade Commission (FTC) enforcement authority, holding that the agency cannot seek its preferred remedy of monetary restitution in federal court.

In recent years, the FTC has used Section 13(b) of the Federal Trade Commission Act (FTC Act)1 as its preferred enforcement mechanism, and it has done so to great effect. In 2017, for example, the FTC obtained $5.29 billion in restitution under this section. Civil penalties, which are authorized under a different part of the statute, totaled just $176 million that same year.

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Navigating the CCPA’s ‘Notice and Cure’ Provision

*This article was first published by Bloomberg Law in August 2019

Companies doing business with California consumers are impacted by the California Consumer Privacy Act (effective Jan. 1, 2020). The CCPA’s private right of action provision gives California residents the right to sue companies when their personal information is subject to unauthorized access and exfiltration, theft, or disclosure due to a company’s failure “to implement and maintain reasonable security procedures and practices.”

Under this provision, consumers may seek actual damages, declaratory or injunctive relief, and statutory damages, which begin at $100 and continue up to $750 “per consumer per incident.” The potential aggregated exposure through consumer class actions could be significant, and companies are searching for ways to mitigate private lawsuits.

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