The workshop was split into two topics: Trade data and jet tracking data. The workshop also had some brief comments on the class action lawsuit against Yodlee.
The EU-US Privacy Shield framework (“EU-US Privacy Shield”) became effective on August 1st, 2016. Its goal was to ensure adequate protection for the personal data of residents of the European Economic Area (EEA) upon transfer of their data to the US.
Back in January of this year a letter from US lawmakers called for an investigation by the FTC into Yodlee and its parent Envestnet “to determine whether the company’s sale of sensitive financial transaction data from tens of millions of Americans violates the FTC Act”.
In this workshop, the Lowenstein Sandler team discuss two recent topics that have arisen for investors - the moves that have been occurring in Washington around Federal Privacy Legislation and the potential implications, and the Weather Channel case with the City of Los Angeles.
The rules and regulations around the collection and dissemination of data in China are lengthy and complex. Particularly when it comes to data that leaves the country. The collection and use of data can fall under Anti-Monopoly Law, Anti-Unfair Competition Law and cybersecurity law.
Polling data in the UK came under scrutiny after the Brexit and Scottish independence referenda. Articles in the British press and Bloomberg highlighted the controversy around hedge funds using polling data to trade the markets.
The following is a synopsis of one of the presentations at Eagle Alpha’s ESG roundtable on 20th August 2020.
Peter Greene and Ben Kozinn of Lowenstein Sandler LLP welcomed the resolution of the City of Los Angeles Vs. The Weather Channel case. The settlement is more robust disclosure by the app provider with respect to its use of geolocation data.
On July 9th, 2020, a House Committee on Consumer Protection and Commerce called for federal privacy legislation to be enacted. Representative McMorris Rogers supported a Committee Staff Discussion Draft from December 2019 and called for bi-partisan support on the issue.
Data provenance is one of the main topics that comes up in all our monthly legal workshops, so we decided to dedicate an entire session to the topic.
On July 16th, 2020, the European Commission launched an antitrust inquiry into the Internet of Things (IoT). The focus of the inquiry is on consumer products and services that “are connected to a network and can be controlled at a distance, for example via a voice assistant or mobile device”.
Organizations that rely on alternative data should ensure that their diligence process includes questions regarding the EU data transfer mechanisms used by the data brokers, and their sources, and obtain contractual assurances that the transfer was legal under all applicable laws.
