On February 2, 2024, a committee of ambassadors from all countries of the European Union (EU) approved the latest draft of the EU Artificial Intelligence Act (AIA or the Act). Following weeks of speculation that there could be a blocking minority of EU countries who had concerns about the final text, this vote confirms that the AIA has substantial support within the Council of the EU (Council). This means that the AIA has a good chance to become law within the coming months. For more information about the scope and requirements in the AIA, please see our client alert on last December’s political agreement on the AI Act, available here.Continue Reading The AI Act Just Got One Step Closer to Becoming Law
In 2024, businesses will continue to face an evolving landscape of cyber threats, along with an increasingly complex regulatory environment. With heightened scrutiny from regulators, consumers, and investors, the need to bolster security measures and improve incident response capabilities has become even more important. Here’s our top 10 list of what to watch for from cybersecurity regulators in 2024:Continue Reading Cybersecurity: What to Watch for in 2024
On July 26, 2023, the U.S. Securities and Exchange Commission (SEC) announced that it adopted final rules requiring disclosure by public companies of material cybersecurity incidents in a Current Report on Form 8-K, and of material information regarding their cybersecurity risk management, strategy, and governance in an Annual Report on Form 10-K. Foreign private issuers will be required to make comparable disclosures on Forms 6-K and 20-F. Set forth below is a brief summary of the final rules; a more detailed client alert will follow.Continue Reading SEC Adopts Cybersecurity Disclosure Rules
On June 13, 2023, Texas Governor Greg Abbott signed the Securing Children Online through Parental Empowerment Act (HB 18) (SCOPE Act). With this signing, Texas joins Utah and Arkansas in regulating social media and its impact on minors and their mental health.
The SCOPE Act requires covered “digital service providers” to provide minors with certain data protections, prevent minors from accessing harmful content, and give parents tools to manage their child’s use of the service. The Act also has age verification requirements for digital service providers that knowingly distribute a significant amount of “harmful” or “obscene” content.Continue Reading Texas Joins Other States in Enacting Social Media Law for Minors
On May 3, 2023, the Federal Trade Commission (FTC) announced that it issued an order to show cause (the “show cause order”) to Meta Platforms, Inc. (formerly Facebook, Inc., “Meta”). The show cause order proposes…Continue Reading Round Three: FTC Proposes Further Restrictions on Meta’s Privacy Practices and a Complete Prohibition on Meta Monetizing Youth Data
On October 24, 2022, the Federal Trade Commission (FTC) announced a proposed consent order against Drizly and its CEO, James Cory Rellas, over the online alcohol marketplace company’s data breach incident in 2020, which exposed…Continue Reading FTC Announces Settlement with Drizly; Complaint Names CEO in His Individual Capacity
Last week, the Federal Trade Commission (FTC) and the District Attorneys of Los Angeles County and Riverside County agreed to an order to settle claims against Frontier Communications Intermediate, LLC and its parent company, Frontier Communications Parent, Inc. (collectively, Frontier). The plaintiffs alleged that Frontier promised internet speeds that Frontier did not deliver. The order, approved by all Commissioners, contains far-reaching and, in some cases, novel relief, including an $8.5 million penalty, a requirement for customer-by-customer substantiation, an absolute prohibition on signing up of certain new customers, and a mandated $50-60 million investment in new technology.
Continue Reading FTC Takes Aggressive Action Against Internet Service Provider for Misrepresenting Internet Speeds