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Learn about whether your business is covered by the Children's Online Privacy Protection Act and how to comply with the regulation.

Are you about to launch a new app with youth appeal? Are you hoping that your new game will trend with tweens? Hold on—you might have to comply with the Children’s Online Privacy Protection Act (COPPA).

The government isn’t known for being on the cutting edge with technology, but the Federal Trade Commission seems to be well aware of apps such as Candy Crush and Snapchat. And it is continuously developing rules to regulate online services that collect data from users, especially children.

Just last year, revisions to the Children’s Online Privacy Protection Act took effect. The rule broadened its definition of personal information to include photos, audio recordings, geolocation, and persistent identifiers, including cookies that track activity online.

In this post, we’ll…

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COPPA

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iVLG's weekly News Roundup provides business owners and entrepreneurs the latest news surrounding business and recent cases and legislation.

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 Capital and Getco Announce Merger Plan
Knight Capital nearly collapsed last summer after a $440 million trading glitch. Getco, a major shareholder of Knight, was one of the many…

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The cybersecurity bill was blocked Thurdsday by a Republican filibuster in the Senate, which severely impairs its prospects of passing this year

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. The bill has received widespread bipartisan support, but there has been a fight over the proposed amendments to the legislation. In hopes of ending the battle over the bill,…

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Knight Capital Group glitch causes $440 loss; Bristol-Meyers executive accused of insider trading; and Illinois passes new social media privacy law.

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 scrambling to secure a buyer or investor to facilitate a potential merger to save the company after the severe loss. Knight intends to continue trading and market-making while it considers its options.

U.S. Securities Regulation

Bristol-Meyers Executive Accused of Insider Trading
In…

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Microsoft announced its support for the Cybersecurity Act, while Congress continues its debate over the broad language of the Act.

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 and the government, including liability immunity from suits related to breaches and attacks.

Obama wrote, “We need to make it easier for the government to share threat information so critical-infrastructure companies are better…

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Today, we've detailed the documentation requirements and 8 important HIPAA-related considerations every business owner should think about.

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 in written or electronic format, for a period of 6 years.

The following is a list of documents you should consider using in your business in order to avoid any inadvertent disclosure or use of protected health information….

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It's important to understand HIPAA's administrative requirements in order to maintaining compliance. Below is a non-exhaustive list of best practices.

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 a qualified attorney to review your policies.

Implement appropriate administrative, technical, and physical safeguards to protect the privacy of PHI. With the increasing reliance on electronic data storage and processing, it’s becoming more and more important to have a comprehensive…

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HIPAA seeks to protect PHI but allow the flow of health information needed to provide high quality health care and protect public health & well being.

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 major purpose of the Privacy Rule is to define and limit the circumstances in which an individual’s protected heath information (PHI) may be used or disclosed by covered entities. A covered entity…

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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 exemption that will allow crowdfunding. Until then, we are reminding issuers that any offers or sales of securities purporting to rely on the crowdfunding exemption would be unlawful under the federal…

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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 Capabilities
According to a New York Times article this week, cell phone companies are profiting from the sales of tracking data to law enforcement agencies. While warrants are required for phone taps, and data logs, police have been able to acquire tracking data without warrants. When AT&T…

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