The SEC recently announced the creation of a Cyber and Emerging Technologies Unit (CETU) that will focus on fraudulent conduct in cybersecurity, digital assets, and emerging technologies such as artificial intelligence. For...more
On February 26, 2024, the National Institute of Standards and Technology (NIST), an agency within the U.S. Department of Commerce, released Version 2.0 of its Cybersecurity Framework (CSF), the first major update since its...more
In 2017, the New York Department of Financial Services (“NYDFS”) enacted a landmark regulation requiring financial services institutions such as banks and insurance companies in the state to meet substantial cybersecurity...more
11/8/2023
/ Banking Sector ,
Covered Entities ,
Cybersecurity ,
Cybersecurity Framework ,
Data Protection ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
NYDFS ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Risk Management
Last month, Gurbir Grewal, the Director of the SEC’s Division of Enforcement, spoke at the Financial Times Cyber Resilience Summit. During the remarks, he outlined the importance of cybersecurity and signaled that the SEC is...more
7/11/2023
/ Amended Rules ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Disclosure Requirements ,
Enforcement Actions ,
Financial Institutions ,
Incident Response Plans ,
Personal Data ,
Policies and Procedures ,
Publicly-Traded Companies ,
Risk Management ,
Securities and Exchange Commission (SEC)
As cyber-attacks and data breaches pose an increasing threat to market participants, the US Securities and Exchange Commission (“SEC”) has become increasingly focused on the cyber risks to the public and the market at large....more
3/29/2023
/ Compliance ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Collection ,
Financial Institutions ,
Personal Information ,
Policies and Procedures ,
Proposed Amendments ,
Risk Management ,
Securities and Exchange Commission (SEC)
On March 1, 2023, the White House released a new National Cybersecurity Strategy (the Strategy) documenting the Biden-Harris administration’s approach to improving cybersecurity across the digital ecosystem. The Strategy...more