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Corporate Counsel Cybersecurity Financial Services Industry

Skadden, Arps, Slate, Meagher & Flom LLP

The Last Piece of DORA Falls Into Place: 10 Lessons From the First Six Months

- What is new: The EU’s Delegated Regulation on Subcontracting has come into force, completing the legal framework of the Digital Operational Resilience Act (DORA). Attention will now turn to enforcement. - Why it matters:...more

Sheppard Mullin Richter & Hampton LLP

North Dakota Passes New Data Security Law for “Financial Corporations”

North Dakota recently passed a law establishing new rules for certain financial companies operating in the state – specifically “financial corporations.” The new obligations will take effect on August 1, 2025. They will apply...more

Husch Blackwell LLP

New York Amends its Data Breach Notification Law

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Keypoint: New York has amended its data breach notification law twice in the last 60 days to (1) add a 30-day deadline for notifying affected residents, (2) clarify that covered financial entities must still notify the New...more

Faegre Drinker Biddle & Reath LLP

Lessons from PayPal’s $2 Million Cybersecurity Settlement with the New York State Department of Financial Services

On January 23, 2025, PayPal settled an enforcement action brought by the New York State Department of Financial Services (NY DFS) for failing to comply with cybersecurity regulations required for financial services businesses...more

Morrison & Foerster LLP

Congressional Investigations Outlook: What to Expect from the 119th Congress

The 119th Congress is underway, and Republicans control both chambers. With President Trump in the White House, both the House and the Senate will focus more of their oversight on the private sector. Continuing a trend over...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for December 2024

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •Insider trading charges against a professor overseeing...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

The EU’s Digital Operational Resilience Act Comes Into Effect

The European Union’s Digital Operational Resilience Act (DORA) came into effect on January 17, 2025. DORA aims to harmonise rules concerning the provision of information and communication technology (ICT) services to...more

Baker Donelson

New York DFS Releases AI Cybersecurity Guidance

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The New York Department of Financial Services (NYDFS) issued new guidance (the Guidance) on October 16, 2024, to help state-regulated financial institutions mitigate the myriads of cybersecurity risks posed by artificial...more

Fisher Phillips

White House Issues Sweeping AI Executive Order: 10 Things Employers Need to Know

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The executive order on artificial intelligence issued by the White House yesterday is the federal government’s most ambitious attempt to date to corral this burgeoning technology – and contains numerous items of interest for...more

Wyrick Robbins Yates & Ponton LLP

2022 Hindsight: Breach Notification Year in Review

While new comprehensive state privacy laws took most of the headlines this year, security threats and incident response remain key risk factors for privacy compliance programs and the subject of important legal developments....more

A&O Shearman

Managing cyber security risks: key learnings from Australia’s first test case

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For the first time in Australia, a court has held in an action brought by Australia’s financial services regulator, ASIC, that the failure by a company to have adequate risk management systems in place to manage cybersecurity...more

Foley Hoag LLP - Public Companies & the Law

SEC’s Expansion of Crypto Assets and Cyber Unit Signals Increased Enforcement Ahead

In a move that further executes upon the SEC’s increasingly tough rhetoric on cryptocurrency and cybersecurity, SEC Enforcement recently announced that it will nearly double the size of its newly-renamed Crypto Assets and...more

Goodwin

NYDFS Issues Ransomware Guidance Aimed At Combatting Rising Cyber Threats

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The exponential rise in ransomware attacks in the past year has everyone on high alert, not least of which are regulators. Following on the heels of a June 2, 2021 White House memo addressing ransomware prevention, on June...more

Bond Schoeneck & King PLLC

New York State Department of Financial Services Announces Two Cybersecurity Settlements

The Cybersecurity Division of the New York State Department of Financial Services (DFS) continues to ramp up enforcement of the Cybersecurity Regulation. In two recent settlements, DFS has begun to offer insight into how it...more

Alston & Bird

NYDFS Announces Cybersecurity Settlement, Addresses Multi-Factor Authentication Rules

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On April 14, 2021, the New York Department of Financial Services (“NYDFS”) announced a settlement with National Securities Corporation (“National Securities”), a licensed insurer, in connection with claims under the NYDFS...more

UB Greensfelder LLP

[Webinar] Data Protection & Cybersecurity Challenges for Financial Institutions in 2021 - February 17th, 2:00 pm - 3:00 pm EST

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Join Frances Floriano Goins and Laura J. Shaw, Associate General Counsel from KeyBank, NA, as they review the myriad regulatory schemes that govern data protection for financial services providers, keying in on both newly...more

White & Case LLP

US Cybersecurity Standards to Get Tougher and More Specific: FTC and NYDFS Lead the Way

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In the past few years, cybersecurity has taken on increasing importance in the eyes of lawmakers and regulators. Traditionally, cybersecurity compliance that is tied to the protection of personal information generally has...more

Mintz - Privacy & Cybersecurity Viewpoints

NYDFS’ First Cybersecurity Enforcement Action - What Happened and Important Lessons for Organizations

The New York State Department of Financial Services (“NYDFS”) has announced its first enforcement action of NYDFS’ Cybersecurity Regulation, Part 500 of Title 23 (“Cybersecurity Regulation”) against First American Title...more

Ballard Spahr LLP

FTC Releases 2019 Privacy and Data Security Update

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On February 25th, the Federal Trade Commission (FTC) released its annual Privacy and Data Security Update, which highlights the FTC’s activities during the past year....more

Ballard Spahr LLP

FTC announces improvements to orders in data security cases

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Yesterday, Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, announced the following three major improvements that have been made to FTC orders in data security cases...more

Pillsbury Winthrop Shaw Pittman LLP

Pillsbury’s Post-Election Outlook

The 2018 Midterm Election played out as most poll forecasters speculated. Although several races have yet to be decided, Republicans have retained control of the Senate, but lost at least 29 seats, allowing the Democrats to...more

Robinson+Cole Data Privacy + Security Insider

New York Financial Services Cybersecurity Regulations Deadline Looming This Week

On March 1, 2018, the one year transition period within which banks, insurance companies, and other financial services institutions and licensees regulated by the New York Department of Financial Services (“Covered Entities”)...more

Orrick, Herrington & Sutcliffe LLP

Plaintiffs’ Lawyer Predicts $1 Billion Settlement in Data Breach Case – But Where’s the “Harm”?

This week, a high profile plaintiffs’ firm (Edelson) stated that “if done right,” the data breach class actions against Equifax should yield more than $1 billion in cash going directly to more than 143 million consumers...more

Epstein Becker & Green

Five Employment Law Compliance Topics of Interest to Financial Services Industry Employers

Employers in the financial services industry are faced with an escalating number of employment law compliance challenges, but the news is not all bad. For example, although pleading standards for Sarbanes-Oxley Act (“SOX”)...more

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