milicorn

ruminations on international financing and whatever

Thursday, February 01, 2007

Administration SWIFT surveillance breached the trust and private lives of many millions of people
Peter Hustinx, the European Data Protection Supervisor (EDPS)has ruled: "Just as other banks, the ECB can not escape some responsibilities in the SWIFT case which has breached the trust and private lives of many millions of people. Secret, routine and massive access of third country authorities to banking data is unacceptable. The financial community should therefore provide payment systems which do not violate European data protection laws". issued his opinion on the role of the European Central Bank (ECB) in the SWIFT case. The ECB's position in the context of the payment system is threefold, being an overseer, a user, and a policy maker. When deciding to use SWIFT's services in its own payment operations, the ECB was placed in the position of a joint controller. As such, it is co-responsible for ensuring full compliance with data protection rules. This includes ensuring respect for the purpose limitation principle, information to data subjects, and adequate guarantees when personal data are transferred to third countries. here

Labels: European Central Bank, Peter Hustinx, SWIFT

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Assistant DAG report
OPR Final Report 2009
Financial instrument includes not only debt securities, equity securities, and derivatives, but also loans and accounts payable or receivable, and almost any other amount payable or receivable. Financial instruments can be initially and subsequently measured at fair value (a current value) in the balance sheet. Current accounting standards of both the IASB and FASB require that some financial instruments be reported at fair value (trading securities and derivatives, for example). Current IASB standards give companies the option of reporting other financial instruments at fair value and the FASB recently issued an Exposure Draft of a Statement that would provide a similar option within U.S. GAAP
Federal report on the president's surveillance program Warrantless eavesdropping
New Yorker The Secret History
Bernard Madoff investors
Justice/Yoo Memo on Torture, part 1
Justice/Yoo Memo on Torture, part 2

New restrictions would: --Give recipients of court-approved subpoenas for information in terrorist investigations the right to challenge a requirement that they refrain from telling anyone. --Eliminate a requirement that an individual provide the FBI with the name of a lawyer consulted about a National Security Letter, which is a demand for records issued by investigators. --Clarify that most libraries are not subject to demands in those letters for information about suspected terrorists. The legislation also takes aim at the distribution and use of methamphetamine by limiting the supply of a key ingredient found in everyday cold and allergy medicines. Yet another provision is designed to strengthen port security by imposing strict punishments on crew members who impede or mislead law enforcement officers trying to board their ships. New York Times Section 201 — Gives federal officials the authority to intercept wire, spoken and electronic communications relating to terrorism. Subsection 203(b) — Permits the sharing of grand jury information that involves foreign intelligence or counterintelligence with federal law enforcement, intelligence, protective, immigration, national defense or national security officials Section 204 — Makes clear that nothing in the law regarding pen registers — an electronic device which records all numbers dialed from a particular phone line — stops the government‘s ability to obtain foreign intelligence information. Section 207 — Increases the amount of time that federal officials may watch people they suspect are spies or terrorists. Section 212 — Permits Internet service providers and other electronic communication and remote computing service providers to hand over records and e-mails to federal officials in emergency situations. Section 215 — Authorizes federal officials to obtain "tangible items" like business records, including those from libraries and bookstores, for foreign intelligence and international terrorism investigations. Section 218 — Allows federal officials to wiretap or watch suspects if foreign intelligence gathering is a "significant purpose" for seeking a Federal Intelligence Surveillance Act order. The pre-Patriot Act standard said officials could ask for the surveillance only if it was the sole or main purpose. Section 223 — Amends the federal criminal code to provide for administrative discipline of federal officers or employees who violate prohibitions against unauthorized disclosures of information gathered under this act. Section 225 — Amends FISA to prohibit lawsuits against people or companies that provide information to federal officials for a terrorism investigation.