On December 15, 2020, the Federal Deposit Insurance Corporation (“FDIC”) issued a final rule (“Final Rule”) setting forth standards to apply to controlling shareholders of industrial banks that are not subject to consolidated supervision by the Board of Governors of
Morrison & Foerster LLP
We collaborate across a global network of 17 offices located in key technology and financial centers in the United States, Asia, and Europe. Our clients include some of the largest financial institutions, Fortune 100 companies, and leading technology and life sciences companies. We also represent investment funds and startup companies, and over the years have supported many in their growth and development as leading industry players and household brands.
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Latest from Morrison & Foerster LLP - Page 4
FinCEN Seeks to Expand Scope of Information Collection and Recordkeeping Requirements for Money Transmitters and other Financial Institutions
By Sean Ruff & Adam Fleisher
A new proposed rulemaking (the “NPRM”) would lower the current $3,000 threshold for the applicability of the Bank Secrecy Act (“BSA”) Recordkeeping Rule and Travel Rule to $250 for covered funds transfers that begin or end outside the United States.…
Social Links: Avoid becoming a social-media-scam victim; does stream-ripping site violate copyright law?
Reports of social media scams that have caused users to lose money had tripled by the end of 2020’s second quarter, resulting in the loss of $117 million during the first two quarters of this year alone. Romance scams and…
S.D.N.Y. Dismisses Defamation Case Arising Out of “Battle by Tweet”
By Jackie Li & Aaron Rubin
In Ganske v. Mensch, a defamation suit stemming from a “battle by Tweet,” a federal district court in New York held that the allegedly defamatory statements in the defendant’s Tweet were nonactionable statements of opinion and dismissed the case.…
SEC Seeks to Level the Playing Field with New Fund of Funds Rule
On October 7, 2020, the Securities and Exchange Commission (SEC) adopted a new fund of funds rule. New Rule 12d1-4 is designed to streamline and enhance the existing regulatory framework under which registered funds of funds have been offered.…
Avoiding Claims Under the Computer Fraud and Abuse Act in Connection with Software and Firmware Updates
A recent ruling in Parziale v. HP, Inc., arising out of the implementation by Hewlett-Packard (“HP”) of a remote firmware update on many models of the company’s printers, highlights the potentially broad application of the Computer Fraud and Abuse…
Turkey’s new social media law; social media ad spend; Harvard Law School’s social media policy
In an attempt to shut down free speech online, Turkey enacted a law that requires social media platforms with more than a million daily users in Turkey to open an office there or assign a representative who is legally accountable…
In the Public Eye: USPTO Issues Report on AI
The USPTO recently released the report “Public Views on Artificial Intelligence and Intellectual Property Policy”. The report is part of the USPTO’s effort to engage with the innovation community and experts on AI and to promote innovation of AI
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MoFo Associate Takes Law Mentorship to TikTok
Thomson Reuters’ The Daily Docket interviewed Cecillia Xie about her popular TikToks, where she mentors followers and helps them navigate law school and legal careers.
“What I want to encourage young attorneys to do is take a step back from…
EU Copyright Directive – Quo Vadis: First Steps Towards its German Implementation
SUMMARY
- On June 7, 2019, the highly controversial EU Copyright Directive (“Directive”) came into force, requiring EU Member States to transpose its provisions into national law by June 7, 2021.
- To recap, the most relevant provisions
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