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Bears and bulls and social media

The pandemic brought about a shift in how investments are discussed online and has increased the influence social media has on the market. Social media is playing a larger role in the way ordinary retail investors understand and interact with today’s markets. Whether with investments in cryptocurrencies, NFT projects, or traditional security exchanges, social media’s … Continue reading

Florida’s proposed social media platform law: Is your company a social media platform?

On May 23, 2022, the Eleventh Circuit upheld an injunction on parts of Florida’s controversial social media “censorship” law, S.B. 7072, in NetChoice, LLC v. Att’y Gen., Fla.  In a 67-page opinion, the three-judge panel held that large swaths of the law’s provisions were unconstitutional, finding that social media companies are private actors and government … Continue reading

Bill C-18: Proposed legislation requiring digital media platforms to compensate Canadian media outlets for news content

On April 5, 2022, the Canadian Heritage Minister, Pablo Rodriguez, tabled Bill C-18 (Online News Act): An Act respecting online communications platforms that make news content available to persons in Canada.  Bill C-18 requires digital media platforms (e.g., social media services, search engines) to compensate media outlets for news content made available on their platforms.  … Continue reading

Bill C-11: Proposed legislation to regulate social media and streaming companies is back in Canada

In June of 2021, Canada’s Parliament passed Bill C-10: An Act to amend the Broadcasting Act and to make related and consequential amendments to other Acts (Bill C-10). Bill C-10 was drafted in response to recommendations made by the Broadcasting and Telecommunications Legislative Review Panel suggesting reforms of Canada’s broadcasting system to account for digital … Continue reading

Justice Thomas suggests social media regulation may be close

In December 2021, our post Increased Likelihood of US Social Media Regulation discussed the rising momentum to reform Section 230 of the 1996 Communications Decency Act, which is often used to protect social media giants from liability for content posted on their platforms by third parties. Recently, U.S. Supreme Court Justice Clarence Thomas expressed displeasure … Continue reading

Australia takes the international lead in social media regulation

In December 2021, our post “Increased likelihood of US social media regulation” discussed Facebook whistleblower Frances Haugen and her call to hold social media platforms accountable for the potentially dangerous content that appears on their sites. In February 2022, Haugen once again flagged Facebook’s algorithms as potentially harmful, but this time Haugen was speaking outside … Continue reading

Nikola Corporation agrees to pay $125 million to settle SEC investor fraud case

In December 2021, the Securities and Exchange Commission (“SEC”) announced that Nikola Corporation (“Nikola”) agreed to pay $125 million to settle charges that the company allegedly defrauded investors and misled them about its products, technical advancements, and commercial prospects. Nikola did not admit or deny the SEC’s findings.   Earlier that same year, the SEC filed … Continue reading

Federal Reserve and social media

In November of 2021, the Board of Governors of the Federal Reserve (the “Fed”) issued its Federal Reserve Financial Stability Report, a biannual report focused on potential risks to the financial system.  In this issue, the Fed highlighted the role of social media and retail investors in equity market volatility.… Continue reading

Twitter tests new Safety Mode

Twitter is testing a new safety feature aimed at reducing unwanted interactions. As explained in a Twitter Safety blog on 1 September 2021, Safety Mode temporarily blocks accounts (Author Accounts) found by Twitter’s artificial intelligence (AI) to be sending harmful or uninvited Tweets to a user (User). Author Accounts may be automatically blocked from interacting with a … Continue reading

Promotional contests, sweepstakes, and giveaways: like, share, and follow the rule

Social media contests, sweepstakes, and giveaways have grown increasingly popular in the past few years and have become a common marketing strategy for businesses. From “like and share this post” to “tag five friends for extra entries,” contests allow businesses to promote their brand, generate leads, and engage with current and new customers. While it … Continue reading

Telemedicine ads limited by Facebook

As the telemedicine industry continues to grow, especially in light of COVID-19, businesses should reconsider their policies and procedures in connection with telehealth services and user safety. Notably, Facebook recently responded to the growing use of telemedicine by amending its policies with respect to advertisements by telemedicine companies for prescription drugs. The new policy, which … Continue reading

Proposed Canadian law to regulate social media companies and streaming giants

In late June of 2021, Members of Canada’s Parliament passed Bill C-10: An Act to amend the Broadcasting Act and to make related and consequential amendments to other Acts. The Bill proposes to subject social media platforms and streaming services, collectively described in the Bill as ‘online undertakings’, to requirements similar to those imposed on … Continue reading

U.S. Supreme Court ended battle concerning President Trump’s blocking of individuals on Twitter

Introduction The U.S. Supreme Court recently ended the legal battle between former President Donald Trump and individuals whom Mr. Trump had blocked on Twitter, by granting the government’s petition for a writ of certiorari filed when Mr. Trump was still the President, vacating the Second Circuit’s judgment against Mr. Trump, and remanding the case with … Continue reading

Social media and the Computer Fraud and Abuse Act

Given all the recent headlines about data theft as well as a resurgence of interest in the Computer Fraud and Abuse Act (CFAA), a December 18, 2020 ruling from a federal trial court in Colorado may be of interest to our readers. MCS Safety Solutions, LLC v. Trivent Safety Consulting, LLC, No. 19-cv-00938-MEH (D. Colo. … Continue reading

The business reason to monitor and remove illicit content

Social media platforms have revolutionized the way people receive and deliver their news and information. Industry players, legislators, and consumers of social media have all had to adapt to this new medium of speech. While having the permanence and public nature of traditional forms of news, such as newspapers, social media posts are not subject … Continue reading

The do’s and don’ts of doing it for the ‘gram: Limiting deceptive marketing risks on social media

Social media influencer marketing that misleads the public is on the Canadian Competition Bureau’s (the Bureau’s) list of key priorities for the foreseeable future. Brands and marketing agencies that work with influencers (as well as influencers themselves) should abide by best practices to reduce the risks of getting wrapped up in a Bureau investigation for misleading … Continue reading

Social media, photos, privacy, and conversion

There seem to be a lot of questions lately about the use of photographs on social media, so a recent federal court case may be of interest in raising some risks you may not have contemplated. The case involves some photos that professional models had posted to their social media pages, which they alleged had … Continue reading
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