Since 2019, TikTok and ByteDance, its parent company, officials have been negotiating with the Committee on Foreign Investment of the United States (CFIUS) regarding required technical safeguards they will need to adopt to be in compliance with US national security concerns. The popular social media app, which gained traction during the beginning of 2020 amidst the Covid-19 pandemic, has been scrutinized by many officials regarding concerns for user privacy. Currently, the Biden administration has been working to encourage TikTok’s Chinese owners to sell their investment in the app or face a potential national ban in the U.S.. However, Tiktok representatives argue this will not alleviate concerns about user data privacy.
Danielle McNamara Senior Editor Loyola University Chicago School of Law, JD 2023 In July 2022, former Twitter board member Peiter Zatko filed a complaint against Twitter, alleging that the social media platform failed to develop a security system consistent with the Federal Trade Commission’s (FTC) requirement to implement a comprehensive information-security program, established in 2011. …
After the EU invalidated the previous data transfer agreement between the EU and the US in July of 2020, many big tech companies have been left unsure how to keep business flowing from Europe without the ability to store data within the US. To the relief of these companies, the Biden Administration has reached a preliminary agreement for a new deal with the EU. Coined the Trans-Atlantic Data Privacy Framework, this new agreement works to address concerns raised by the EU.
Private equity firms and hedge funds, typically utilized by more knowledgeable and sophisticated parties, have not seen much governmental scrutiny in the past. However, the Securities and Exchange Commission (“SEC”) recently passed a proposal that would force these funds to furnish basic disclosures to their investors and guard against conflicts. These changes stem primarily from the 2020 “meme stock” controversy that put a spotlight on vaguely policed private equity and hedge funds.
Although lawmakers must disclose their trades to the public, some members of Congress believe more stringent regulations are necessary to limit members’ trading activity. Specifically, Senator Jon Ossoff (D., Georgia) has become a leading voice, planning to introduce legislation that would compel members of Congress to put their assets in a blind trust. Moreover, Federal Reserve Chairman Jerome Powell has been pushing for stricter ethics rules for Federal officers amidst several resignations of Fed bank officers.
On November 3, 2021, Robinhood Markets Inc., a popular online stock trading app, reported that an intruder gained access to its systems, obtaining the personal information of millions of its users. With its sudden rise to popularity and contempt following the GameStop stock volatility, and an ongoing class action lawsuit concerning a previous breach, Robinhood is in hot water with both customers and regulatory agencies alike.
As schools attempt to return to “normalcy”, approximately 1,000 colleges and universities have mandated vaccines for students. While the majority of these schools have relatively high vaccination rates, students complain that extra precautions including student surveillance and monitoring are going too far. Conversely, many schools in states with notoriously lax COVID-19 mandates struggle to keep students safe while following state mandates.
The ability to purchase private data through commercial data brokers has become increasingly easy. Data brokers originally gained popularity as a way to assist marketing and advertisements, allowing companies to better communicate with their consumers. Lawmakers worry data brokers’ products have begun to cater towards law-enforcement, causing constitutional concerns.