Category: Regulations

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FCC Chairman’s 3.10.16 Proposal on ISP Use of Customer Data

Last week, Federal Communications Chairman Tom Wheeler informally published a proposal to restrict ISP use of customer data:

If adopted, these would be the first privacy rules for Internet service providers, resulting largely from last year’s net neutrality regulations that expanded the Federal Communications Commission’s oversight authority over the industry. (Those rules are currently pending in court.)

Thursday’s unveiling of the proposal from Chairman Tom Wheeler is just a first step: The FCC is expected to vote to formally propose this plan on March 31, soliciting public comments on a variety of questions about how the rules should work before the final version gets drafted….

See, FCC Proposal Would Limit What Internet Providers Can Do With Users’ Data @ NPR.

Here’s the draft released last week, and online at http://transition.fcc.gov/Daily_Releases/Daily_Business/2016/db0310/DOC-338159A1.pdf:

Download (PDF, 50KB)

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(Some) Startups Can Lawfully Tweet to Test Investor Interest

Startups are now able to post a Twitter message about their stock or debt offering to gauge interest among potential investors, the U.S. Securities and Exchange Commission said this week. The announcement continues the SEC’s trend of warming up to social media, which began two years ago when it approved the use of posts on Facebook and Twitter to communicate corporate announcements such as earnings….

The SEC’s latest endorsement of social media only applies to companies looking to raise as much as $50 million a year. New small-business fundraising rules were approved in March, which increased the limit for capital raised to $50 million from $5 million to enjoy the perk of fewer required disclosures.

The changes were required under the 2012 Jumpstart Our Business Startups Act, which deregulated fundraising rules for small businesses. Firms that use Twitter to solicit investor interest must include a link to a required disclaimer that says the firm isn’t yet selling securities, the SEC said in this week’s announcement.

Via SEC Approves Tweeting by Startups to Test Investor Interest @ Bloomberg Business.

See, also, Jumpstart Our Business Startups (JOBS) Act @ SEC.gov

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