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The cybercrime group known as Scattered Spider is at it again, according to Google’s Threat Intelligence Group. This criminal group is known to focus its cyber attacks on one sector at a time. Last spring, it was the retail...more
Concerns about claims of legal professional privilege over third-party investigation reports produced in the course of responding to cyberattacks, and the extent to which such reports can be shielded from disclosure in legal...more
On July 18, 2024, District Court Judge Engelmayer of the Southern District of New York issued his 107-page opinion and order dismissing most – but not all – of the landmark allegations of the SEC against SolarWinds Corp. and...more
On May 21, 2024, Erik Gerding, the director of the Division of Corporation Finance of the Securities and Exchange Commission (SEC), released a statement containing guidance for public companies regarding the disclosure of...more
Hackers are now weaponizing the SEC’s cyber disclosure rules as a new way to pressure corporations. You may recall that the Securities and Exchange Commission has new rules for timely disclosure of cyberattacks. One major...more
At this point, it is self-evident that companies are grappling with an ever-evolving (think: tougher) cyber risk terrain. However, two recent cases against companies and their Chief Information Security Officers (CISOs),...more
Are you prepared for the new SEC Rule on Cybersecurity Incident and Risk Management Disclosures? Don't let your business get caught off guard! This webinar will cover important points about the rule and how to effectively...more
Welcome to this month's issue of The BR Privacy & Security Download, the digital newsletter of Blank Rome’s Privacy, Security & Data Protection practice....more
Key Point: The FCC revised its breach notification rules for telecommunication providers to broaden the instances when notifications are required, but even with limited exceptions to the new requirements, the final rule...more
As we enter the New Year, Wiley has looked back at the top cyber issues for 2023 and what they mean for 2024. Last year, we saw the rollout of the National Cybersecurity Strategy—which outlined a new era of cyber oversight—as...more
At its December meeting, the Federal Communications Commission approved a Report and Order modifying its data protection rules. The order expands the scope of protected data to include personally identifiable information....more
Securities and Exchange Commission (SEC) rules regarding cyber incident reporting and cybersecurity risk management, strategy, and governance, officially went into effect this week for most public companies....more
The Black Cat/ALPHV ransomware group filed a complaint with the U.S. Securities and Exchange Commission (SEC) to allege that one of their victims failed to disclose a cyberattack to the SEC within four days, reports Bleeping...more
On October 30, 2023, the Securities and Exchange Commission filed claims against a software company (the “Company”) and its Chief Information Security Officer for alleged fraud and internal control failures relating to known...more
The Securities and Exchange Commission (“SEC”) adopted new rules requiring the disclosure of cybersecurity risk management, strategy, governance and material incidents (the “Rules”), effective September 5, 2023. The Rules...more
After an extensive comment period, the SEC announced on July 26 that it was formally adopting new rules for public companies governing cybersecurity disclosures. The rules had generated significant backlash from public...more
The Securities and Exchange Commission (“SEC”) voted on July 26, 2023 to adopt new cybersecurity rules, which are aimed at helping investors better understand the cybersecurity risks associated with public companies by...more
On July 26, a divided SEC adopted a final rule outlining disclosure requirements for publicly traded companies in the event of a material cybersecurity incident. ...more
In remarks to the audience at a Financial Times summit earlier this month, Gurbir Grewal, SEC Director of Enforcement, citing a recent poll from Deloitte, observed that over “a third of executives reported that their...more
The U.S. Securities and Exchange Commission’s (SEC) 2023 Spring Unified Agenda of Regulatory and Deregulatory Actions was released last month and includes an anticipated action date for finalizing rules for cybersecurity...more
Cybersecurity risk applies to businesses of all sizes and across all industries – it is a risk that cannot be ignored. In particular, cybersecurity risk can no longer be ignored in the deal lifecycle...more
The U.S. Securities and Exchange Commission ("SEC" or the "Commission") has ordered Blackbaud, Inc. ("Blackbaud") to pay $3 million to resolve claims that it made materially misleading statements about a 2020 ransomware...more
Asserting that the company misstated the scope of data stolen in the cyberattack, the SEC provides a clear reminder that cybersecurity disclosures remain an agency priority....more
Editor’s Note: On August 31, 2022, HaystackID shared an educational webcast on the topic of data mining in data breach incident response. As data mining has increasingly become one of the largest expenses during a cyber...more
The Federal Trade Commission (FTC) recently issued a blog post stating that a failure to disclose a data breach may be a violation of Section 5 of the FTC Act. The May 20 blog post, titled Security Beyond Prevention: The...more