Tag:compliance
Security Awareness — Not Just an IT and Compliance Responsibility
Since the start of 2021, cyber-attacks have dominated headlines across every industry. From governments and government organizations, healthcare companies, and banks, to gaming companies and oil pipelines, ransomware has impacted organizations of all types and sizes. The scale and scope of these attacks have continued to grow and have far reaching consequences. Despite current agency attempts to strengthen cybersecurity through regulation, individual users continue to pose a serious threat due to insufficient security education.
It’s Not Too Early to Start Worrying About Discriminatory Algorithms in Your Code: A Practical Approach to Self-Regulation
There’s no doubt that remote work, brought on by the coronavirus pandemic, will accelerate the digital revolution already underway. Consumers’ growing appetite to conduct their business online, rather than in-person, has fueled the proliferation of digitally accessible products and services. For instance, movie theaters have closed their doors while content streaming services have experienced exponential growth. And while the restaurant industry, as a whole, has suffered, ‘virtual’ kitchens and grocery delivery apps have picked up steam. A critical question that arises from these trends is “what can be done to eliminate biases in the algorithms that drive these digital transactions?”
Updates to Autorenewal Regulations and Enforcement
In the age of online consumerism, many companies utilize automatic renewal programs to deliver their products and services to customers on a recurring basis for a monthly or annual charge. Recently, autorenewal programs have seen an increase in consumer protection through legislation at both the state and federal level along with enforcement actions brought by private plaintiffs, state attorney generals, and the Federal Trade Commission (“FTC”). Organizations that utilize automatic renewal should be aware of the uptick in autorenewal program enforcement and look to strengthen and update their policies where appropriate.
Altering Injuries: Loss of Scholarship to Long-Term Consequences
Athletic scholarships pave the way for student-athletes to attend the schools of their dreams, yet serious injuries can turn their dreams into nightmares, regardless of whether the injuries have immediate or future effects. In the relentless pursuit of illustrious professional league contracts and national championships, athletes may fail to get properly evaluated or be less inclined to accept being sidelined for what they perceive as minor, short-term injuries. The unwary athlete may find themselves losing their scholarship and suffering life-long consequences as a result. While the NCAA was established in 1906 for the purpose of protecting athletes from a trend of injuries and death in college football, the governing body has seemingly veered off course of prioritizing student-athlete welfare.
A Practical Approach to Post-Schrems II Remediation of Cross-Border Data Transfers to the U.S. and Other “High Risk” Third Countries
On July 16, 2020, the Court of Justice of the European Union (“CJEU”) issued its deafening decision that summarily and immediately invalidated the EU-US Privacy Shield. The regulatory program established between the European Council and the U.S. Dept. of Commerce allowed for the transfer of personal data of EU residents to be sent from the EU to the US without violating the data transfer restrictions of the General Data Protection Regulation (“GDPR”). The decision went on to cast serious doubt on the sufficiency of standard contractual clauses to adequately protect data transferred to any third country, not just the US. Several months later, data exporters in the EU are still sorting through the wreckage of their privacy programs and waiting for practical advice on the way forward.
An Update on the Gamestop Frenzy: Calls for Regulation and a Congressional Hearing
Cora Leeuwenburg Associate Editor Loyola University of Chicago School of Law, JD 2022 The controversy surrounding the unprecedented movement by retail investors and Gamestop has not died down in the last month following the stock’s meteoric rise in price and dramatic fall. The wildly volatile stock has lost hedge funds millions and resulted in …
Read more
The Fifth Annual Loyola Journal of Regulatory Compliance Symposium: “Labor & Employment Compliance Issues in the Era of Covid-19”
Friday, March 12, 2021 Symposium Summary This year’s virtual Symposium will bring together practitioners to examine current issues in Labor & Employment compliance with particular attention to issues arising from the Covid-19 pandemic. Practitioners will reflect on a variety of concerns facing employment professionals as advisor, employer, and client. Cost & CLE CLE credit will …
Read more
Final Rule and Updates to Non-discrimination Regulations of the ACA
The Department of Health and Human Services (“HHS”) finalized revised regulations that implemented Section 1557 of the Affordable Care Act (“ACA”) in June of 2020. This section prohibits discrimination within health programs and activities receiving federal financial assistance based on race, color, sex, age, disability, and national origin. In comparison to the Obama-era regulations issued in 2016, the new final rule does away with gender identity and sexual orientation nondiscrimination protections not only under Section 1557, but under ten other federal regulations as well. This also includes a roll back of certain health insurance coverage protections for transgender individuals.
Market Regulation Issues Raised by the Gamestop Buying Frenzy
The regulation of hedge funds has largely been unchecked allowing big Wall Street players to manipulate the market for the benefit and at the detriment of other investors. But forced by an unprecedented movement of retail investors, Wall Street is being forced to reckon with the hypocrisy of their practices.
The Death of Neutral Corporations
The current social and political climate, as well as our planet’s environmental climate, have shown the new role that corporations play in society. The pandemic and the current social upheaval seen worldwide have increased the need for real and meaningful corporate commitment to social responsibility.