Troy A. Paredes

Children's information and sharing it is top of mind for regulators, as we have been telling our clients for a while, and as we saw yesterday in a new CA AG $500,000 settlement with Tilting Point Media LLC (Tilting Point) for #CCPA and #COPPA compliance issues in mobile app game “SpongeBob: Krusty Cook-Off.” Practice points: Directed at children: 🔹 If you are aware that children under 13 are using your services - they are is directed to children. Saying in your terms of service and privacy policy that consumers under 13 are not authorized to use it - doesn't change this. Regulator 1, 2, 3: 🔹 CA AG will use every enforcement tool to ensure compliance with the law and that companies exercise diligence with privacy law requirements 🔹 If one regulator tells you that you are not compliant (here BBB National Programs CARU): assess your compliance with other laws you could be enforced against by another regulator Data minimization: 🔹 Don't collect more personal information than reasonably necessary for a child to participate. Mind your SDKs: 🔹An SDK facilitates data sharing that can be a sale (CCPA) and/or unfair/deceptive (FTC) and/or subject to COPPA just like any data sharing. 🔹 You need to know: what information each SDK collects; evaluate contracts re: sharing of data through them - making sure you have the right consent. 🔹 You may need a formal SDK governance framework. 🔹 Every year: assess data minimization and SDK usage. (ensuring data flows appropriately change based on the consumer's age). 🔹 Every year: conduct adequate training for personnel re sharing and SDKs Sale/share: 🔹 Disclose your sale and share correctly in your privacy notice 🔹 Don't sell/share personal information of under 13's without parental consent 🔹When you do sell/share: provide a just-in-time notice explaining what information is collected, the purpose, sale/share, link to privacy policy, & parental or opt-in consent required. [FTC also says this in BetterHelp] Mixed audience 🔹When using an age screen it has to be neutral. 🔹Neutral means: (1) ask age information in a neutral manner that does not default to a set age of 16 or above or encourage users to falsify age information; (2) not suggest that certain features will not be available; and (3) provide CLEAR AND CONSPICUOUS notice that the age entered should be accurate to the user and is collected to ensure data use and advertising is appropriate. 🔹If the person is under 13 or 16 - direct them to a portion of the service that doesn't use data other than as permitted by COPPA/CCPA or get parental / opt in consent For ads in your apps, make sure they are: 🔹Identified as being an ad; 🔹Include a prominent one-click “X” or “Close” button; 🔹Do not manipulate or deceive consumers into engaging 🔹Do not advertise activities/products in which children cannot legally engage/possess. #dataprivacy #dataprotection #privacyFOMO Complaint: https://rb.gy/enu19e Agreement: https://rb.gy/jq6lke

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During a panel at our Financial Crimes and Regulatory Compliance Summit, held June 10-11 at Fordham University School of Law, experts discussed nuances in bank-financial technology partnerships, offering best practices for how banks should protect themselves. The relationship between banks and fintechs has always been problematic from a compliance perspective, particularly for community and regional banks worried about being left behind by technological advances. Fintechs offer accessible, bank-like services that would take smaller banks months or years to develop on their own, while also offering their banking partners access to new customers who traditional banking models don’t reach. The banks, however, bear all the responsibility if something goes wrong. What happens if the fintech is breached and loses the bank’s customer data? What happens if the fintech processes transactions for terrorist groups or criminals? What happens if the fintech suddenly shuts down? Sheetal Parikh, general counsel and chief compliance officer at banking-as-a-service vendor Treasury Prime, said banks need to have a plan in place to deal with disruptions. Read Aaron Nicodemus' coverage from our latest event at the link below. #compliance #ethics #banking #finance #technology #fintech #Fordham #NewYork #financialservices

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"Former USPTO Directors Andrew Iancu and David Kappos on Tuesday urged Director Kathi Vidal to "immediately" withdraw the proposed rules regarding so-called terminal disclaimers, saying the changes are "contrary to law and threaten serious harm to America's innovation economy." "Patents convey property rights upon which inventors, investor, companies and the public make important long-term decisions...They are financial instruments at the core of the innovation economy, enabling investment, trade, and collaboration. Radical changes in the patent system should only be undertaken only after careful analysis of need, consequence and public input...The proposed rules package contradicts these fundamental principles of a stable and robust patent system."" https://lnkd.in/gr76sBed

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Great testimony! Everyone needs to understand how the SEC's enforcement first strategy creates a hostile regulatory environment for #cryptocurrencies that is only heightened by the SEC's own enforcement misconduct. I would also add that the "just come in and register" message is a fallacy for cryptocurrencies and digital assets. For these innovative businesses, what "come in and register" really means is "come in and ATTEMPT register so that we can sit on your qualification indefinitely and ensure that your business never gets off the ground." https://lnkd.in/g2kgDnae

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