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BANKING AND FOREIGN EXCHANGE
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- The Reserve Bank of India (RBI) has released a notification dated September 13, 2019 in relation “Draft Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”. The objectives of setting up of small finance banks will be for furthering financial inclusion by (i) provision of savings vehicles primarily to unserved and underserved sections of the population, and (ii) supply of credit to small business units; small and marginal farmers; micro and small industries; and other unorganised sector entities, through high technology-low cost operations.
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LABOUR LAWS
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COMPETITION LAW
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- The Federal Trade Commission (FTC) five companies settle allegations that they falsely claimed participation in the EU-U.S. Privacy Shield [September 03, 2019]
Five companies have reached settlements with the Federal Trade Commission over allegations that they falsely claimed certification under the EU-U.S. Privacy Shield framework, which establishes a process to allow companies to transfer consumer data from European Union countries to the United States in compliance with EU law.
In separate actions, the FTC alleges that management software provider DCR Workforce, Inc.; cloud-based file transfer software provider Thru, Inc.; LotaData, Inc., which provides analysis of mobile users’ data; and facial recognition software provider 214 Technologies, Inc. all falsely claimed in statements on their websites that they were certified under the EU-U.S. Privacy Shield framework. The FTC alleges that LotaData, Inc. also falsely claimed that it was a certified participant in the Swiss-U.S. Privacy Shield framework, which establishes a data transfer process similar to the EU-U.S. Privacy Shield framework.
For more information, please access –
https://www.cci.gov.in/sites/default/files/press_release/PR82019-20.pdf
- Google and YouTube will pay record $170 Million for Alleged Violations of Children’s Privacy Law [September 04, 2019]
For more information, please access –
https://www.ftc.gov/news-events/press-releases/2019/09/google-youtube-will-pay-record-170-million-alleged-violations
- The Federal Trade Commission (FTC) obtains Preliminary Injunction Halting Online Beauty Product Sellers’ Deceptive “Free Trial” Offers [September 06, 2019]
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- The Federal Trade Commission (FTC) to hold Workshop on Consumer Participation in Class Action Cases [September 06, 2019]
For more information, please access –
https://www.ftc.gov/news-events/press-releases/2019/09/ftc-hold-workshop-consumer-participation-class-action-cases
- The Federal Trade Commission (FTC) gives final approval to settlement with Auto Dealer software company that allegedly failed to Protect Consumers’ Data [September 06, 2019]
For more information, please access –
https://www.ftc.gov/news-events/press-releases/2019/09/ftc-gives-final-approval-settlement-auto-dealer-software-company
- Statement of Bruce Hoffman, Director of FTC’s Bureau of Competition, on Fidelity National Financial, Inc.’s Decision to Drop Proposed Acquisition of Stewart Information Services Corporation [September 10, 2019]
For more information, please access –
https://www.ftc.gov/news-events/press-releases/2019/09/statement-bruce-hoffman-director-ftcs-bureau-competition-fidelity
- The Federal Trade Commission (FTC) requires Divestitures and Imposes Conditions on US Foods Holding Corp.’s Acquisition of Services Group of America, Inc. [September 11, 2019]
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- The Federal Trade Commission (FTC) puts conditions on NEXUS Gas Transmission, LLC’s Acquisition of Generation Pipeline LLC [September 13, 2019]
For more information, please access –
https://www.ftc.gov/news-events/press-releases/2019/09/ftc-puts-conditions-nexus-gas-transmission-llcs-acquisition
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ENERGY
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NEWS
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- Reserve Bank of India (RBI) Government working on law to create new database for borrowers [September 03, 2019]
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- Government to start consultations on online certification [September 02, 2019]
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- Enforcement Directorate (ED) issues show-cause notice to Amnesty International for 'violating' foreign exchange law [September 06, 2019]
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- Supreme Court (SC) notice to centre on plea against UAPA Amendments [September 07, 2019]
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- Supreme Court (SC) gives green signal for probe against Uber [September 11, 2019]
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- Central Bureau of Investigation (CBI) moves Supreme Court (SC) against whistleblower I-T officer [September 11, 2019]
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- Government committee recommends privatisation of coal sector [September 13, 2019]
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- Government panel may examine non-personal data regulation [September 14, 2019]
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