Privacy Policy
Securities Regulation
UBS Settles for $1.5 Billion
We reported last week about the Swiss banking giant’s proposed settlement with global authorities. Well, the settlement is now final. UBS agreed to pay $1.5 billion in fines to settle claims against it for a multi-year scheme to manipulate interest rates, so called “rate-rigging.”
This settlement is the largest to date related to rate-rigging. The fine is one of the biggest sanctions ever levied by both American and British authorities, falling just below the $1.9 billion settlement levied against HSBC last week over money laundering claims.
Mergers and Acquisitions
Knight… Read the rest
We recently wrote a post about the new cybersecurity bill, which has been on the Obama administration’s top national security priorities. The bill was blocked Thurdsday by a Republican filibuster in the Senate. This latest development severely impairs its prospects of passing this year. The Senate voted 52 to 46 to cease debates, which falls short of the 60 required to force a final vote on the bill.
The cybersecurity bill would have established optional standards for the computer systems that oversee the country’s critical infrastructure, like power grids, dams, and transportation.… Read the rest
U.S. Stock Market News
Glitches in System Cost Knight Capital Group $440 million
Knight Capital Group, one of the largest trading firms in the U.S., stock plunged nearly 50% by midday Thursday, trading at its lowest price since 1998. The steady plunge resulted from faulty software forcing the company to buy a great number of stocks at an inflated value and then sell all those stocks at a lower price, which sent dozens of U.S. stocks swinging more than 10 percent.
The company is… Read the rest
Local computer giant, Microsoft, has recently publicly announced its support of a federal bill designed to combat cybercrime by increasing cooperation between companies and the government to enforce laws and investigate cybercrimes.
The Cybersecurity Act of 2012 (S. 3414) is currently weaving its way through Congress. President Obama recently released an op-ed in the Wall Street Journal in support of the goals of the Cybersecurity Act. The bill provides for a private, industry-goverment collaboration on setting cybersecurity standards, and the sharing of cyber threat information among critical infrastructure providers… Read the rest
In this last installment of our series on HIPAA compliance and best practices for your business, we’ve detailed the documentation requirements and 8 important considerations every business owner should think about.
Does HIPAA require any specific documents?
As discussed in previous posts, HIPAA provides for a number of “best practices” which include various documents that you should use to help avoid HIPAA violations. Any documents containing protected health information or policies that govern your use and disclosure of protected health information should be stored, either… Read the rest
To follow up last week’s blog post about HIPAA’s Privacy Rule, we’ve boiled down some of the most important administrative requirements for maintaining compliance with HIPAA. Below is a non-exhaustive list of best practices for your business.
- Carefully develop and implement policies and procedures regarding any protected health information (PHI) that are designed to comply with the Privacy Rule. If you’re not sure about your current policies or are in the process of developing new policies for your business, you should contact
If you’re running a business and you deal with any health information, you are likely aware of the Health Insurance Portability and Accountability Act’s (HIPAA) Privacy Rule. Today’s post provides a summary of HIPAA, who it affects, what it protects, and what is permitted under the Privacy Rule.
Goals of HIPAA
The major goal of HIPAA’s Privacy Rule is to assure that individuals’ health information is properly protected while allowing the flow of health information needed to provide and promote high quality health care while protecting the public’s health and well being.
Basic Principle
A… Read the rest
CROWDFUND Act
SEC Reiterates: Crowdfunding Not Legal Yet
The SEC issued an official comment emphasizing that crowdfunding is not yet legal. The JOBS Act has passed, and it makes crowdfunding legal, but not until the SEC issues a number of rules proscribed by the legislation. Congress wrote into the bill that the SEC had 270 days to promulgate these proscribed rules. The SEC’s statement reads:
“On April 5, 2012, the Jumpstart Our Business Startups (JOBS) Act was signed into law. The Act requires the Commission to adopt rules to implement a new
JOBS Act – Securities Law
Obama Signs JOBS Act
Yesterday Obama signed the JOBS Act into law. The President called the JOBS Act, “potential game changer” for small businesses. The JOBS Act eases federal regulation on the sales of securities, making it easier for companies to raise capital. Part of the JOBS Act is the CROWDFUND Act which enables companies to raise money by selling stock online.
Privacy Policies & Mobile Technology
Phone Companies Cashing in on Tracking… Read the rest
Suppliers & Distributors & Disputes
Amazon Pulls More Than 4,000 e-Books from Online Marketplace
In a dispute over e-Book discounts, Amazon has decided to stop offering e-Books published by Independent Publishers Group in its online marketplace. IPG is the nation’s second largest independent publisher, and has refused to come to terms with Amazon in a dispute over a contract renewal. The problem for IPG is that Amazon’s Kindle accounts for 60% of all e-book sales. If they don’t give in to Amazon’s demands, they lose out on a majority of the market. IPG has told its publishers… Read the rest
