The Senate has passed the Cybersecurity Information Sharing Act (S.754, CISA), sponsored by Sens. Richard Burr (R-NC) and Dianne Feinstein (D-CA), the chair and vice-chair of the Senate Intelligence Committee, by a margin of...more
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- Just this week, Europe's highest court struck down the U.S.-EU Safe Harbor Framework, stating that it failed to adequately protect the privacy rights of EU citizens.
- The ruling,...more
Chinese President Xi Jinping’s visit to Washington D.C. led to a very significant agreement on cybersecurity, as reflected by The White House fact sheet released Friday (excerpted below). The agreement addresses a core U.S....more
Just one week after the Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations issued a new risk alert on cybersecurity, the SEC brought an enforcement action against an investment adviser...more
On September 10, 2015, the 2nd Circuit, in Berman v. Neo@Ogilvy LLC, issued a divided opinion concerning the scope of protections offered by the Dodd-Frank Wall Street Reform and Consumer Protection Act. In a 2-1 decision,...more
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- On September 15th, the SEC OCIE announced in a Risk Alert it will launch a second round of cybersecurity examinations of registered broker-dealers and investment advisers, which will be more...more
9/21/2015
/ Cybersecurity ,
Data Protection ,
Industry Examinations ,
NIST ,
OCIE ,
Risk Alert ,
Risk Assessment ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Security and Privacy Controls ,
Training
If you read one thing:
- The Federal Trade Commission (FTC) secured a major appellate victory in its quest to challenge lax corporate cybersecurity practices
- In light of the 3rd Circuit’s decision,...more
9/1/2015
/ Appeals ,
Cybersecurity ,
Data Breach ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
FTC Act ,
FTC v Wyndham ,
Hotels ,
Section 5 ,
Security and Privacy Controls ,
Strategic Enforcement Plan ,
Unfair or Deceptive Trade Practices ,
Wyndham
On July 20, 2015, the U.S. Court of Appeals for the 7th Circuit issued an opinion that could dramatically change the class action landscape for companies that are victims of hackers. In Remijas v. Neiman Marcus Gp., the 7th...more
On July 25, 2015, Judge Barbara Lynn of the Northern District of Texas issued a formative opinion in the class actions securities arena. The case, The Erica P. John Fund, Inc., et al. v. Halliburton Co., et al., No....more
The recent hacking of the sensitive personal information of millions of American public servants at the Office of Personnel Management (OPM) points out a noteworthy distinction in how the U.S. government views some types of...more
On June 18, 2015, Congressmen Jim Langevin (D-RI) and Jim Himes (D-CT) sent a letter to the Securities and Exchange Commission (SEC) calling for updated cybersecurity disclosure guidance for publicly traded companies....more
On June 4, 2015, the U.S. Office of Personnel Management (OPM) announced that it was the victim of a data breach in which records of more than four million current and former agency employees were accessed. According to the...more
A new study released on May 7, 2015, by the Ponemon Institute revealed that criminal cyberattacks on health care organizations were the most prevalent cause of data breaches in 2014. The report underscores the need to think...more
On April 28, the Securities and Exchange Commission (SEC) Division of Investment Management (the “Division”) published a Guidance Update setting forth cybersecurity concerns and advice for the registered investment ...more
On Monday, April 27, 2015, the Supreme Court agreed to hear an important constitutional case that could dramatically limit the viability of class action lawsuits claiming millions or billions of dollars in statutory damages...more
The U.S. Supreme Court found middle ground in Omnicare this week, holding that issuers’ statements of opinion issued in registration statements can be the basis for liability under Section 11 if either the speaker does not...more
On Thursday, just three months after a district court judge in Minnesota denied Target’s motion to dismiss the consumer class action following the retailer’s massive 2013 data breach, the court granted preliminary approval of...more
In California, home to Silicon Valley, Biotech Beach, drones and some of the nation’s strongest laws protecting personal and consumer privacy, legislators are grappling with how to balance popular innovations in technology...more
Wednesday the advisory committee charged by the Federal Communications Commission (FCC) with providing critical assistance to the communications industry with a sector-specific implementation of cybersecurity risk management...more
On Thursday, March 12, 2015, House Energy & Commerce Subcommittee on Commerce, Manufacturing, and Trade Chairman Michael Burgess (R-TX), along with Reps. Marsha Blackburn (R-TN) and Peter Welch (D-VT), released draft text of...more
Yesterday, Federal Trade Commission (FTC) Chairwoman Edith Ramirez and FTC Bureau of Consumer Protection Director Jessica Rich announced that the FTC will begin a “Start with Security” campaign, through which the FTC will...more
On Friday, February 13, 2015, President Obama delivered the keynote speech and signed an executive order on cybersecurity information sharing at the White House cybersecurity and privacy summit held at Stanford University. ...more
The increasing cost of healthcare is a significant concern for companies that provide health care benefits to their employees. With certain key provisions of the Patient Protection and Affordable Care Act, more commonly known...more
Tuesday, the House Energy & Commerce Subcommittee on Commerce, Manufacturing, and Trade held its first hearing of the 114th Congress, entitled “What Are the Elements of Sound Data Breach Legislation?”...more
On November 19, 2014, the five commissioners of the U.S. Securities and Exchange Commission (SEC) unanimously voted to adopt Regulation SCI, which stands for Systems Compliance and Integrity, to govern the technology...more