Legal & Compliance

Eagle Alpha's Legal Wrap: 13th November
Eagle Alpha rounds up some of the most relevant legal and compliance articles surrounding the alternative data space over the past month.
Data Protection Bill in India: Potential Implications for Alternative Data Ecosystem
India’s Personal Data Protection Bill 2019 (“PDPB”), which was introduced in the Indian Parliament in December 2019 after intense debate among domestic and international stakeholders, is expected to become law this year.
Trade Data, Jet Tracking Data, Yodlee Class Action
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.
No Quick Fix for Transatlantic Data Transfers
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.
Envestnet and Yodlee Face Class Action Lawsuit
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”.
Federal Privacy Legislation & Settlement of The Weather Channel Case
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.
Further Restrictions on China Technology Exports
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.
Deliberating Legal Risks in Election Related Alternative Data
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.
ESG: The Rising Tide of Regulation
The following is a synopsis of one of the presentations at Eagle Alpha’s ESG roundtable on 20th August 2020.
City of Los Angeles Settles with The Weather Channel and IBM
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.
Further Moves to Bring Forth Federal Privacy Legislation
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.