Status Update on Privacy Shield Replacement

On March 25, the European Commissioner for Justice Didier Reynders, and U.S. Secretary of Commerce Gina Raimondo issued a joint statement announcing a preliminary replacement for the Privacy Shield framework. The Trans-Atlantic Data Privacy Framework will allow data transfers between…

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OCC

What’s the OCC Banking Regulatory Outlook for 2022?

As the year’s end approaches, the US Office of the Comptroller of the Currency (OCC), a primary US banking regulator, has published its Banking Supervision Operating Plan for 2022. As you might expect, much of the OCC’s focus is on managing the repercussions of the pandemic and the resulting economic, financial, operational, and compliance implications.…
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Privacy

U.S. Privacy Law: Past, Present and Future

Privacy law is a hot topic for legislatures in the United States at both the state and federal levels. With the advent of influential laws from international governments, including the European Union, the lack of significant privacy regulation in the U.S. has become glaringly apparent. In this article, we discuss the history of privacy regulation…
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Cryptocurrency

DOJ Announces National Cryptocurrency Enforcement Team

On October 6, the Department of Justice (“DOJ”) announced the creation of a National Cryptocurrency Enforcement Team (“NCET”). The DOJ press release is set forth in part below, without further commentary, other than to observe that the NCET’s stated goals are to address issues on which we repeatedly have blogged: crypto exchangers and their AML…
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Ransomware

New Ransomware Guidance Issued

On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued new ransomware guidance, discouraging companies and citizens from paying ransoms. The Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments is the latest step taken by the Biden Administration to curb the increase in ransomware attacks. In…
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