Business law news
Here are some recent business law news stories:
1. Supreme Court Rules on Arbitration Clauses
The US Supreme Court has ruled that arbitration clauses in employment contracts can be enforced even if they require employees to waive their right to participate in class-action lawsuits. The decision, which was made in the case of Epic Systems Corp. v. Lewis, is expected to have significant implications for employers and employees alike. (Source: The New York Times)
2. SEC Proposes New Rules for Private Equity Firms
The Securities and Exchange Commission (SEC) has proposed new rules that would require private equity firms to disclose more information about their fees and conflicts of interest. The proposed rules are intended to increase transparency and protect investors in private equity funds. (Source: Bloomberg)
3. EU Introduces New Data Protection Rules
The European Union has introduced new data protection rules, known as the General Data Protection Regulation (GDPR), which aim to strengthen the protection of personal data and give individuals more control over their personal data. The GDPR applies to all organizations that process personal data of EU citizens, regardless of where the organization is located. (Source: The Guardian)
4. Court Rules that Uber Drivers are Independent Contractors
A California court has ruled that Uber drivers are independent contractors, not employees, and therefore are not entitled to benefits such as minimum wage and overtime pay. The ruling is a significant victory for Uber and could have implications for other gig economy companies. (Source: The Los Angeles Times)
5. SEC Charges Former Wells Fargo Executives with Fraud
The SEC has charged two former Wells Fargo executives with fraud for their role in the bank's fake accounts scandal. The executives, who were responsible for overseeing the bank's sales practices, are accused of ignoring warnings about the problem and failing to take adequate steps to address it. (Source: CNBC)
6. UK Supreme Court Rules on Brexit
The UK Supreme Court has ruled that the UK government does not have the power to trigger Article 50, the process for leaving the European Union, without the approval of Parliament. The ruling is a significant setback for the government and could delay the UK's exit from the EU. (Source: The Financial Times)
7. FTC Fines Facebook $5 Billion for Privacy Violations
The Federal Trade Commission (FTC) has fined Facebook $5 billion for violating its privacy obligations. The fine is the largest ever imposed by the FTC and is intended to punish Facebook for its role in the Cambridge Analytica scandal. (Source: The Wall Street Journal)
8. Court Rules that Google's Use of Location Data is Illegal
A US court has ruled that Google's use of location data from Android devices is illegal. The ruling is a significant victory for privacy advocates and could have implications for other tech companies that collect location data. (Source: The Verge)
9. SEC Proposes New Rules for Cryptocurrencies
The SEC has proposed new rules that would regulate the sale of cryptocurrencies, such as initial coin offerings (ICOs). The proposed rules are intended to protect investors and prevent fraud in the cryptocurrency market. (Source: Coindesk)
10. EU Fines Google $1.7 Billion for Antitrust Violations
The EU has fined Google $1.7 billion for violating antitrust laws by abusing its dominance in the search engine market. The fine is the third largest ever imposed by the EU and is intended to punish Google for its role in stifling competition. (Source: The New York Times)