Socially Aware

June 17, 2021 - European Union, Contracts, Financial Institutions, Compliance
Some Things Never Change… Including, Apparently, T&Cs in Germany
By: Kristina Ehle
With a judgment dated April 27 and published on June 4, 2021, the German Federal Court (Bundesgerichtshof – the “Court”) declared unfair and therefore illegal and unenforceable a common way to make changes to terms and conditions (“T&Cs”) used vis-à-vis consumers in Germany. For
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July 31, 2017 - Blockchain, Financial Institutions, M&A, Compliance
Delaware Governor Signs Groundbreaking Blockchain Legislation into Law
By: Spencer D. Klein
On July 21, 2017, following last June’s announcement that the Delaware House of Representatives had passed (with near unanimity) blockchain-related provisions proposing to amend several sections of the Delaware General Corporation Law (DGCL), the Delaware Governor officially signed the legislation into law. The newly
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March 26, 2015 - Advertising, Financial Institutions
UK’s Financial Services Regulator: No Hashtags in Financial Promotions
Earlier this month the UK’s financial services regulator, the Financial Conduct Authority (FCA), issued its final guidance on financial promotions made via social media channels. As we reported last year , the FCA issued long-awaited draft guidance in August 2014 on the use of
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August 26, 2014 - Financial Institutions
UK’s Financial Services Regulator Issues Draft Guidance on Social Media – Should We Favourite* or #Fail?
On August 6, 2014, the UK’s financial services regulator, the Financial Conduct Authority (FCA), issued long-awaited draft guidance on the use of social media in financial promotions by regulated financial institutions. But if financial services firms operating in the UK were hoping that this
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June 17, 2014 - Financial Institutions
Bitcoins, Big Headaches? Hazards Abound for Companies Seeking to Accept Bitcoin
From our sister blog, MoFo Tech : The Bitcoin “Cryptocurrency” has gained momentum in the market, and some businesses, including Overstock. com and TigerDirect.com, now accept bitcoins as payment. Many others are wondering if Bitcoin is a good fit for them—and they should factor
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March 04, 2014 - FTC, Privacy, Financial Institutions
A Smart Wallet
Another great post from our sister blog, MoFo Tech : The potential for mobile payments is huge. So are the potential legal and regulatory hurdles. Banks, retailers, and pundits are paying a lot of attention to mobile payments, which typically involve the use of smartphones
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January 07, 2014 - Financial Institutions
FFIEC Issues Final Guidance on Social Media Usage by Financial Institutions
By: Nathan D. Taylor
On December 11, 2013, the Federal Financial Institutions Examination Council (FFIEC) issued final guidance for financial institutions relating to their use of social media (the “Guidance”). With its release, the FFIEC adopts its January 2013 proposed guidance in substantially the same form. ( Socially
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August 27, 2013 - Financial Institutions
Behind the Curve – Are Legal and Regulatory Concerns Preventing UK Financial Service Companies From Fully Harnessing Social Media?
Today’s consumers want to engage in a new way with the companies from which they buy goods and services. Although some UK financial services organisations are leading the way in terms of their use of social media, on the whole, engagement in social media
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July 25, 2013 - Financial Institutions
Bitcoin Receives Cease and Desist Order Evidencing Increased Regulatory Scrutiny of Virtual Currency
By: Rick Fischer
Article courtesy of Morrison & Foerster’s Mobile Payments Practice On May 30, 2013, the California Department of Financial Institutions (CADFI) issued a cease and desist letter to Bitcoin Foundation, a not-for-profit organization established to standardize, protect and promote the use and adoption of Bitcoin.
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June 20, 2013 - Securities Law, Financial Institutions
FINRA Issues Sweep Letter Regarding Use of Social Media
FINRA, having enacted new communications rules that specifically reference electronic communications, having issued two Regulatory Notices (linked here and here ) providing guidance to the securities industry on social media, and having made social media and electronic communications exam priorities in two of the
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