- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-06-06T14:31:00
Microsoft agreed to pay $20 million as part of a settlement with the Federal Trade Commission (FTC) addressing allegations its Xbox video game platform illegally collected and retained the personal information of children.
A proposed order filed Monday by the Department of Justice on behalf of the FTC in the case would require Microsoft to enhance Xbox privacy protections and delete certain data collected from children when parental consent is not obtained in line with the requirements of the Children’s Online Privacy Protection Act (COPPA) Rule.
The order is subject to court approval.
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The Federal Trade Commission issued a notice of proposed rulemaking to strengthen data security requirements and modernize certain aspects of the Children’s Online Privacy Protection Act Rule.
The Federal Trade Commission’s recent children’s privacy enforcement activity—including fines against Microsoft and Amazon—leaves no doubt businesses must make complying with the Children’s Online Privacy Protection Act a top priority.
Florida became the 10th U.S. state to pass a comprehensive consumer data privacy bill, though its law will only apply to larger businesses with more than $1 billion in annual revenue.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
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