SEC Requests Comment on Regulation of Information Providers Under the U.S. Investment Advisers Act

On June 15, 2022, the U.S. Securities and Exchange Commission (Commission) issued a request for comment with respect to whether certain index, model, pricing, and other information providers should be regulated as investment advisers under the Investment Advisers Act of 1940. The Commission suggests fresh consideration is needed in light of changes in technology and market practices in the decades since these topics were last given significant attention — especially given the continuing expansion of index-based investment strategies. Responses to the request for comment are due the later of August 16, 2022, or 30 days after publication of the release in the Federal Register. (more…)

Kentucky and Maryland Recently Joined Other States in Adopting NAIC Model Data Security Law

Kentucky and Maryland recently continued the trend of state insurance departments adopting some version of the National Association of Insurance Commissioners’ (“NAIC”) Insurance Data Security Model Law.  Kentucky Governor Andy Beshear signed House Bill 474 into law, and Maryland Governor Larry Hogan signed SB 207. (more…)

Connecticut Makes Five: The Constitution State Enacts Broad Data Privacy Law Effective July 2023

Connecticut has passed a new state data privacy law slated to go into effect on July 1, 2023.  The law largely tracks other new state data privacy laws recently passed in Virginia and Colorado, but also includes several provisions that could impact compliance plans, including a new obligation to provide a mechanism for consumers to revoke their consent to the processing of their data. (more…)

Suits Against Google Signal Increased ‘Dark Patterns’ Scrutiny

*This article first appeared on Law360 on June 16, 2022

Pending lawsuits against Google LLC illustrate how regulators and plaintiffs lawyers are increasingly wielding a dark patterns theory in challenging companies’ practices involving consumers.

The attorneys general of Washington, D.C., Washington state, Texas and Indiana all filed complaints against Google, alleging that the company tricks consumers into providing their location data, on Jan. 24. (more…)

Spotlight on Women in Privacy – Hattie Davison

Hattie Davison, UK Government, Department for Digital, Culture, Media and Sport, Head of Data Reform Policy (more…)

UK Consults on Algorithmic Processing

Algorithms touch upon multiple aspects of digital life, and their use potentially falls within several separate – though converging – regulatory systems. More than ever, a ‘joined up’ approach is required to assess them, and the UK’s main regulators are working together to try to formulate a coherent policy, setting an interesting example that could be a template for global approaches to digital regulation. (more…)

Data Regulation Ramps Up in Europe: DMA, DSA, and the UK Online Safety Bill

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Since the EU announced its Digital and Data Strategy in February 2020, the European Commission has released several legislative proposals to regulate digital platforms and services, including with respect to access and the use of data. Included within the proposals are the Digital Markets Act (DMA) and the Digital Services Act (DSA).

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The Digital Markets Act Is Almost Here: 10 Things to Know About the EU’s New Rules for Big Tech

As regulators around the world fiercely debate new ways to oversee competition in the digital sector, the EU is on the brink of formally approving a landmark new law. The Digital Markets Act (DMA) will impose a stringent regulatory regime on large online platforms (so-called “gatekeepers”) and give the European Commission (Commission) new enforcement powers, including an ability to impose severe fines and remedies for noncompliance.

Once it comes into force, the DMA is set to revolutionize the way in which so-called Big Tech is regulated in the EU, shifting toward ex-ante rulemaking and away from traditional after-the-fact enforcement. Given the far-reaching nature of the DMA obligations, their effects will likely be felt globally.

There is a lot to digest, so below is our breakdown of the top 10 key points you should know about the EU’s new rules. (more…)

Blockchain Tracing: The U.S. Government’s Newest Tool to Combat Foreign Crime

On May 13, 2022, U.S. Magistrate Judge Zia M. Faruqui of the District of Columbia took the unusual step of unsealing and issuing a Memorandum Opinion captioned “In Re: Criminal Complaint” to explain the court’s conclusion that probable cause existed to authorize a federal criminal complaint against an individual for transmitting over $10 million worth of bitcoin between the United States and an Office of Foreign Assets Control–sanctioned nation, violating the International Emergency Economic Powers Act (IEEPA) and defrauding the United States, in violation of 18 U.S.C. § 371.

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Data Matters: The Declaration for the Future of the Internet

On April 28, 2022, the White House announced, in partnership with 60 global partners, the launch of the Declaration for the Future of the Internet, also known as the “DFI.”

According to the White House briefing, the Declaration sets forth the shared principles regarding how parties should comport themselves with respect to the Internet, the digital ecosystem, and the digital economy. The Declaration affirms that the signatories are committed to defending the Internet, to governing it by a multi-stakeholder approach, and to promoting an open, free, global, interoperable, reliable, and secure Internet for the world. The State Department’s newly formed Bureau of Cyberspace and Digital Policy put out a nearly identical statement. (more…)