David A. Carney Recognized as Cybersecurity & Privacy MVP by Law360

I’m delighted today to focus on a key player in BakerHostetler’s Digital Assets and Data Management group. David Carney is an exceptional lawyer who is on the cutting edge of privacy litigation in the United States. His work on a series of high-profile matters over the past six years has established important parameters regarding plaintiff claims, damages, and the scope of litigation in this evolving area of law.

We’re very proud of his most recent accomplishment – being named a 2021 Law360 MVP in the category of Cybersecurity & Privacy. It’s a public acknowledgement of what we have known for years – David is a major force in privacy law.

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SEC Cybersecurity Actions Against Registered Firms for Business Email Compromises Emphasize Importance of MFA

On August 30, 2021, the Securities and Exchange Commission (“SEC”) announced three settled orders against several investment advisers, broker-dealers, and dual registrants for violations of Regulation S-P allegedly resulting from business email compromises that each exposed or potentially exposed the personal information of thousands of customers.[1] These enforcement actions underscore the following lessons for broker-dealers and investment advisers of all stripes.

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Craig Carpenter Discusses His Career Path on “Careers in Data Privacy” Podcast

On September 9, Craig Carpenter joined an episode of “Careers in Data Privacy,” a podcast that interviews data privacy professionals to learn about the journey they took to get to where they are today. During the episode, Craig talked about his science background and his time at Clemson University, his decision to go to law school, and his interests in technology which led him to a legal career in data privacy and technology transactions.

Listen to the podcast here.

Ohio Proposes Comprehensive Privacy Legislation

Ohio recently became the latest state to consider enacting comprehensive privacy legislation. On July 13, 2021, the Ohio Personal Privacy Act (House Bill 376) was introduced into the Ohio House of Representatives with the backing of Ohio Governor Mike DeWine and Lt. Governor Jon Husted. If passed, OPPA would establish consumer data rights for natural persons who are residents of Ohio acting only in individual or household contexts, not residents acting in a business capacity or employment context, such as contractors, job applicants, officers, directors or owners. The bill would also require certain businesses to comply with a framework of data standards, similar to other states such as California, Virginia and Colorado.

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SEC Scrutinizes Use of Fintech by Broker-Dealers and Investment Advisers

The Securities and Exchange Commission (“SEC”) recently issued a request for information and public comment on the use of new and emerging technologies by investment advisers and broker-dealers that suggests potential regulatory action to come.[1] According to its release, the SEC is seeking to understand how registrants — whether online brokerages, robo-advisers, internet investment advisers, or more traditionally-operated firms — use various digital engagement practices, interactive websites and mobile applications, or artificial intelligence to serve retail investors.

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The Impact of Data Security Incident Trends on Commercial Transactions: Part I – M&A

The 2021 edition of BakerHostetler’s annual Data Security Incident Response Report – a report based on the firm’s experience with data security incident response and litigation over the past year – features a number of important insights previously covered on this blog including trends in global breach notification, healthcare industry risks and ransomware.

The Report is a helpful tool for companies to identify and respond to trends in data privacy and security, especially as it relates to litigation, enforcement and risk management. But, while this may not be as obvious, the data privacy and security risk trends identified in the Report have also impacted general corporate transactions. Many different types of transactions, from M&A to product/service development to standard commercial service agreements, have been impacted by the data privacy and security trends highlighted in the Report. In this series, we’ll look at how some of the trends highlighted in the Report have had an impact on commercial transactions over the past year, and at some of the key data privacy and security sensitivities for businesses considering or involved in these transactions.

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Lindsey Carpino Takes Top Prize in Inaugural AALL Innovation Showcase

Carpino recognized as “showcase winner” in all three type-of-library categories

The American Association of Law Libraries’ (AALL) recently recognized BakerHostetler’s legal content services supervisor, Lindsey Carpino, for her role in developing “Review-it,” a crowd sourced review tool that shares feedback on legal resource tools to the community at large. “Review-it” swept all three type-of-library categories at the first-ever AALL Innovation Showcase.

“This award illustrates that Lindsey is a leader in the world of technological advancement,” said director of Legal Content and Research Services Katherine Lowry. “We are extremely lucky to have such an amazing team of innovators, like Lindsey, at BakerHostetler, and recognitions like this spotlight the importance of involving legal content and research services in data-rich projects.” Continue Reading

Colorado’s Privacy Act: A Curve Ball on Consent and Targeted Ads

On July 7, 2021, Gov. Jared Polis signed the Colorado Privacy Act (CoPA) into law, making Colorado the third state to enact a comprehensive privacy law, joining California and Virginia. The Act goes into effect on July 1, 2023, and shares many of the rights and obligations provided in other comprehensive privacy laws such as the GDPR, CCPA and Virginia CDPA. Our prior blog posts regarding the CCPA/CPRA and the CDPA outline the significant requirements of those laws.

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Game On: Addressing Security Challenges in the E-Sports Industry

The emergence of e-sports is no longer news. According to industry reports, the global e-sports industry created over $950 million in total revenue in 2020, and experts expect that number to grow to $1.6 billion by 2023. While the sports industry is struggling to stay afloat amid a global pandemic, e-sports has seized the moment to raise its profile as a viable — and for many, preferable — alternative to traditional sporting events.

But as with the rest of the world, the pandemic has changed the e-sports landscape. Two trends are noteworthy: e-sports matches that used to be held in person are increasingly migrating to online platforms, and more people are gambling on e-sports matches than ever. To adjust to these trends, the e-sports industry must pay attention to two neglected issues in e-sports law: cybersecurity and anti-cheating. In this post, we explain why implementing robust security and anti-cheating measures and being prepared for inevitable security and cheating incidents is a crucial next step for e-sports stakeholders in ensuring the industry’s continued success. Continue Reading

Podcast: Everything You Need to Know About NFTs in 10 Minutes or Less

Rob Musiala, a Counsel in the Digital Assets and Data Management group and the co-leader of our Blockchain Technologies and Digital Currencies team, breaks down everything you need to know about NFTs, all in 10 minutes or less.

Questions & Comments: rmusiala@bakerlaw.com

Listen to the episode.

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