The Federal Financial Institutions Examination Council (FFIEC) has released proposed guidance on the applicability of consumer protection and compliance laws, regulations, and policies to activities conducted via social media by banks, savings associations, and credit unions, as well as nonbank entities supervised by the Consumer Financial Protection Bureau and state…
We previously reported on the lawsuit over ownership of Twitter followers, when an employee left PhoneDog and changed the twitter handle of an account that had been used to tweet to PhoneDog customers. That case has now settled on confidential terms, but it appears the employee came out ahead. According to…
A weekly wrap up of interesting news about virtual worlds, virtual goods and other social media. Beyonce Still Can’t Nix Video Game Suit, Appeals Court Says A New York intermediate appeals court on Thursday affirmed a lower court ruling that pop singer Beyonce could not nix a suit alleging…
In a series of important rulings, the National Labor Relations Board (“NLRB”) has provided guidance regarding the extent to which private employers may regulate aspects of an employee’s social media activities consistent with the National Labor Relations Act (“NLRA”). The NLRA protects employees’ rights to engage in “concerted activity” for…
A weekly wrap up of interesting news about virtual worlds, virtual goods and other social media. Zynga loses more execs, gains lottery partnership with Scientific Games Social game developer and online poker hopeful Zynga made waves last month with its hiring of former 888.com exec Maytal Ginzburg, but…
A weekly wrap up of interesting news about virtual worlds, virtual goods and other social media. PokerStars Pays $731M, Acquires Full Tilt In DOJ Settlement PokerStars will pay a total of $731 million and absorb fellow online gaming site Full Tilt Poker in order to settle the…
A weekly wrap up of interesting news about virtual worlds, virtual goods and other social media. App Makers’ Privacy Policies Leave Users In The Dark: Panel Several software developers and privacy advocates at a Federal Trade Commission workshop Wednesday shot down the notion that traditional privacy policies are…
Back in January, we reported that the SEC released a National Examination Risk Alert addressing investment adviser use of social media. Now, the SEC’s guidance could be particularly important given the “crowdfunding” legislation Congress is currently considering. Crowdfunding is a method of capital formation where groups of people pool money,…
Social Media usage in the financial services industry is on the rise, which is now putting many registered investment advisers (RIAs) under the microscope for potential federal securities laws violations. RIAs that have not taken the time to review and update their social media policies and procedures may soon find…
PhoneDog LLC filed a lawsuit last July against a now former employee, Noah Kravitz. PhoneDog, which reviews mobile devices, including phones and tablets, is claiming ownership of Kravitz’s Twitter followers. They claim he owes them $340,000 based on an assumed value of $2.50 per follower per month. The dispute arose…