Katten's Privacy, Data and Cybersecurity Quick Clicks is a monthly newsletter highlighting the latest news and legal developments involving privacy, data and cybersecurity issues across the globe.
To read more issues of Katten's Privacy, Data and Cybersecurity Quick Clicks, please click here.
Gone Phishing – Vigilance in the New Scam Era
By Lauren Eiten
Business impersonation scams are not new, but some of their tricks are. Increasingly sophisticated scams not only present risks for individuals; they also risk harming a brand's goodwill if the business's name or marks are wrongfully used by bad actors. In this new scam era, both individuals and businesses need to be vigilant because business imposter scams are the Federal Trade Commission's most reported fraud. Read more about how you can protect yourself or your business from complex scamming attempts.
UK Regulator Updates its Approach to AI and Sets a 12-Month Plan
By Neil Robson and Sara Portillo
The UK Financial Conduct Authority (FCA) has recently published an update on its approach to artificial intelligence (AI) following the UK government's publication of its pro-innovation strategy in February 2024, which identified five "key" principles to the regulation of AI in the United Kingdom, including safety, appropriate transparency, accountability and governance. Read more about the five principles and how the FCA's existing approach aligns with each one.
New Lawsuit Against AdTech's Contribution to Bots
By Christopher Cole
In a New York State Court lawsuit filed on March 11, a small digital content developer called Nubai sued its former adtech vendor, Outbrain, for routing to what it called primarily sophisticated invalid traffic (SIVT), i.e., "bots" instead of human traffic. The case, only the second one of which we are aware, seeks to hold Outbrain liable for fraudulent inducement, breach of contract and negligent misrepresentation, in the amount of at least $3 million plus possible punitive damages. Read more about the case's details and industry concerns related to digital ad fraud.
Managing Risk and Volatility Within a Family Office Structure: 10 Areas to Watch
By Kathryn von Matthiessen
Managing risk and volatility within a family office structure is a timely and complex topic. During a recent Katten webinar, we assembled a group of industry experts to share insights on three key topics: investment risk, governance and intra-family volatility. Their discussion delved into diversification, governance, cybersecurity and other factors impacting investment volatility. Read more about the 10 key areas we are watching closely.
FIX(ML)ing the Data Submission Standard: The CFTC's Large Trader Rules Get a Makeover
By Stephen Morris and Nicholas Gervasi
Part 17 of the Commodity Futures Trading Commission's (CFTC) regulations require futures commission merchants (FCM), clearing members of registered derivatives clearing organizations, and foreign brokers holding omnibus accounts with such FCM clearing members to submit reports of the positions held by "large traders," or traders controlling positions exceeding thresholds prescribed under those regulations. For reporting firms, large trader reporting presents perhaps the most stubborn compliance challenge in the CFTC rulebook. This week, the CFTC announced a final rule amending Part 17 to sunset the Cobol data submission standard. Read more about this transition to more modern data submission standards.
