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I predict that we are perhaps entering an era of greater personal responsibility. Look at Judge Rakoff’s comments in the B of A/Merrill case; the recent ACL Regulation FD enforcement case or how Goldman Sachs “blinked” on bonuses. Whether you agree with it or not, President Obama’s excoriation of the Wall Street “fat cats” will resonate – not only with the public at large but with companies and their boards attempting to present a particular public persona.

I offer three predictions. First, it is clear that the emphasis on investigating alleged off-label promotion for pharmaceuticals will continue at the Federal level, bolstered by the increased cooperation between the Department of Justice and the Food and Drug Administration. On the state level, Attorneys General will turn increasingly to the use of the very broad consumer protection legislation

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Several states now require businesses that maintain personal information to implement data security measures. Massachusetts has been especially active in this area. Last fall, that state issued regulations requiring any person who holds personal information about Massachusetts residents to develop and implement a comprehensive, written information security program to protect the data. The compliance deadline, originally January 1, 2009, was later extended to May 1, 2009 and has now been pushed back further to January 1, 2010 in consideration of the economic climate.

In addition to extending the compliance deadline, Massachusetts has made substantive changes to the requirements.

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