BROWSE BY TOPIC
- Bad Brokers
- Compliance Concepts
- Investor Protection
- Investments - Unsuitable
- Investments - Strategies
- Investments - Private
- Features/Scandals
- Companies
- Technology/Internet
- Rules & Regulations
- Crimes
- Investments
- Bad Advisors
- Boiler Rooms
- Hirings/Transitions
- Terminations/Cost Cutting
- Regulators
- Wall Street News
- General News
- Donald Trump & Co.
- Lawsuits/Arbitrations
- Regulatory Sanctions
- Big Banks
- People
TRENDING TAGS
Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
ABOUT FINANCIALISH
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
SUBSCRIBE FOR
NEWSLETTERS & ALERTS
Internet Users Beware: New Data Security Rules Dropped
[Photo: Bankingtech.com]
[NYTimes] Ajit Pai, Chairman of the Federal Communications Commission, announced that new government rules related to data security – that would have required high-speed internet providers (ISPs) to secure their customers’ data against hacking and other unauthorized uses - would not take effect this week as planned. The 2-1 vote on the data security rules was Mr. Pai’s latest move to roll back regulations created by his predecessor, Tom Wheeler, who was appointed by President Obama.
The FCC is headed by Chairman Ajit Pai, Republican Commissioner Maureen Ohlhausen (FCC’s Acting Chair), and Democratic Commissioner (Ms.) Mignon Clyburn.
Mr. Pai also said the commission should not be engaged in any policing of broadband providers over online privacy. The FTC, instead, should oversee the broadband and web industries.
Since being appointed Chair of the FCC, Pai’s has taken other efforts to roll back ‘democratic’ regulations:
- dismantled privacy rules passed in October that required strong data-security measures and allowed ISPs to collect data on web browsing and app usage only with the permission of customers.
- closed an investigation into claims that ISPs may have been violating net neutrality provisions ensuring equal access to all websites
- pledged to revoke the regulatory classification of broadband service under which it is treated like a telephone-style utility.
- halted 9 broadband providers from giving subsidized service to low-income users, putting in limbo reforms to a subsidy program known as Lifeline.
Interestingly, the FCC’s decision comes at a time when data breaches have become all-too routine.
CAVEAT USER.