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Enforcement Actions Cybersecurity Civil Monetary Penalty

Womble Bond Dickinson

The ICO’s Penalty Against 23andMe Brings New Emphasis on Cybersecurity Risks - Key Takeaways for U.S. Companies

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The dramatic increase in global reach that the internet provides U.S.-based companies comes as a double edge sword. While it significantly increases a company’s potential customer pool, it also subjects companies to...more

Polsinelli

Blockchain+ Bi-Weekly; Highlights of the Last Two Weeks in Web3 Law: February 27, 2025

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Three of the SEC’s key enforcement actions—all extensively covered in BitBlog and widely seen as emblematic of the agency’s adversarial stance toward the industry—are reportedly being halted or dismissed. The SEC has agreed...more

Health Care Compliance Association (HCCA)

We’ll Take the Fine: OCR’s ‘Unwarranted,’ Costly Demands Prompted Hospital’s $538K Payment

The saga that led Children’s Hospital Colorado to accept a fine of more than $500,000 imposed by the HHS Office for Civil Rights (OCR) began on July 11, 2017, when a physician’s email account containing details on 3,300...more

Wiley Rein LLP

Dissenting Commissioners Criticize SEC’s Latest Cybersecurity Disclosure Cases

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Continuing its controversial and aggressive approaches to cybersecurity, the U.S. Securities and Exchange Commission (SEC) recently charged four current and former public companies for purportedly “materially misleading...more

Holland & Knight LLP

Undeterred by the SolarWinds Storm: SEC Charges Victims of Compromised Software

Holland & Knight LLP on

The SEC on Oct. 22, 2024, announced charges against four companies for allegedly making materially misleading disclosures concerning the impact of cybersecurity incidents associated with the compromised SolarWinds' Orion...more

Fenwick & West LLP

The SEC is Cracking Down on Misleading Cybersecurity Disclosure

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On October 22, 2024, the SEC charged two current reporting companies, Unisys Corp. and Check Point Software Technologies, and two former public companies, Mimecast Limited and Avaya Holdings Corp., with making materially...more

Robinson+Cole Data Privacy + Security Insider

Four Companies Settle Allegations of Deceptive Cyber Disclosures with SEC

This week, the Securities and Exchange Commission (SEC) charged four public companies for alleged deceptive cyber disclosures: Unisys Corp., Avaya Holdings Corp., Check Point Software Technologies Ltd., and Mimecast Limited....more

Keating Muething & Klekamp PLL

SEC Fines Four Companies $7M for Violating Cyber Disclosure Rules

On October 22, 2024, the Securities and Exchange Commission charged four companies with making materially misleading disclosures about their cybersecurity risks. Each of the companies—Unisys Corp., Avaya Holdings Corp., Check...more

Robinson+Cole Data Privacy + Security Insider

Marriott and Starwood Settle on Consent Agreement with FTC for Data Breaches

This week, Marriott International, Inc. and its subsidiary Starwood Hotels & Resorts Worldwide LLC (collectively, Marriott) agreed to settle on the terms of a settlement order with the Federal Trade Commission (FTC) for its...more

Nelson Mullins Riley & Scarborough LLP

And T-Mobile Makes Three: More Information Security Guidance for Telecommunications Carriers from the FCC

Close on the heels of its Consent Decrees with TracFone and AT&T, on September 27, 2024, the Enforcement Bureau of the Federal Communications Commission (FCC) announced that it reached a Consent Decree with T-Mobile US, Inc....more

SEC Compliance Consultants, Inc. (SEC³)

Regulatory Roundup for July 2024

SEC Loses in ALJ Case, DOL’s Latest Fiduciary Rule Put on Hold, and SEC Reconsiders AI and Custody Rule Proposals - Welcome to our July Regulatory Roundup, where we provide a quick look at the latest regulatory developments....more

Skadden, Arps, Slate, Meagher & Flom LLP

FTC Enforcement Trends in Consumer Protection Under the Biden Administration

The Federal Trade Commission (FTC or the Commission) has continued aggressive regulation in the consumer protection space under the Biden administration. This persistent approach has occurred even in the face of recent...more

Seward & Kissel LLP

SEC Announces Robust Fiscal Year 2023 Enforcement Results

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Who may be interested: Registered Investment Companies; Directors of Registered Investment Companies; and Investment Advisers - Quick Take: The SEC’s Division of Enforcement (Enforcement) released a report summarizing its...more

Holland & Knight LLP

SEC Announces Record-Setting Enforcement Results for Fiscal Year 2023

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The SEC's Division of Enforcement recently announced its Fiscal Year (FY) 2023 results, touting a record-setting year. Rather than repeat Enforcement's detailed report available here, we boil the data down to give our readers...more

Faegre Drinker Biddle & Reath LLP

New York Department of Financial Services Levies $1.2 Million Fine on Cryptocurrency Platform for Violations of Cybersecurity...

A recent consent order between the New York State Department of Financial Services (“NYDFS”) and cryptocurrency trading platform, bitFlyer USA (“bitFlyer”), shows that the NYDFS continues to utilize an aggressive enforcement...more

Patterson Belknap Webb & Tyler LLP

The FTC Fires Its First Shot Under the HBNR

Last month, the Federal Trade Commission (“FTC”) announced its first-ever enforcement action under the Health Breach Notification Rule (“HBNR” or “the Rule”).  In a complaint filed in February, the agency alleged that GoodRx...more

Nutter McClennen & Fish LLP

Nutter Bank Report: September 2022

Headlines: ..OCC Publishes Security Standards for Video Teleconferencing With Agency Staff ..CFPB Imposes Civil Penalty and Customer Refunds for Authorized-Positive Overdraft Fees ..Treasury Department Recommends...more

Health Care Compliance Association (HCCA)

OCR: Current Fines Too Low to Spur Compliance; Agency Also Seeks Funding Boost, Injunctive Relief

Report on Patient Privacy 22, no. 5 (May, 2022) - Compared to other agencies, the HHS Office for Civil Rights (OCR) is a little fish in the big federal pond, but it has an outsize effect on HIPAA covered entities (CEs) and...more

Baker Donelson

Cybersecurity: A Whistleblower's Paradise

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Cyber whistleblowing is the newest and hottest area of exposure for organizations. All government contractors and grant recipients must develop an understanding of the use of the False Claims Act (FCA) to address...more

Bilzin Sumberg

Recent Settlements and Penalties Show Perils of Data Breaches

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Two major U.S. financial institutions, Morgan Stanley and Capital One, recently agreed to resolve separate class action lawsuits by paying, in the aggregate, hundreds of millions of dollars in compensation for massive data...more

Cooley LLP

Blog: Early SEC Enforcement Trends from Chairman Gary Gensler’s First 100 Days

Cooley LLP on

Gary Gensler was sworn in as chair of the Securities and Exchange Commission on April 17, 2021. Chairman Gensler has promised to strengthen transparency and accountability in the financial markets. Under Chairman Gensler, we...more

Holland & Knight LLP

SEC Issues First-Ever Penalties for Deficient Cybersecurity Risk Controls

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The U.S. Securities and Exchange Commission (SEC) has launched a stunning salvo across the bows of public companies with its announcement of civil monetary penalties and a cease-and-desist order against First American...more

Robinson+Cole Data Privacy + Security Insider

NYDFS Settles with National Securities Corp. for $3M for Violations of DFS Cybersecurity Regulations

The New York Department of Financial Services (NYDFS) has settled alleged violations of the Department’s strict cybersecurity regulations with National Securities Corp. (NSC) for $3 million, over four separate cybersecurity...more

Hinshaw & Culbertson - Consumer Crossroads

Validating Cyber Compliance in Light of the First DFS Enforcement Action

We recently reported on the New York State Department of Financial Services' (DFS) first enforcement action under its 2017 cybersecurity regulation ("Part 500"), which prescribes how financial services companies licensed to...more

Bennett Jones LLP

CRTC Enforces CASL in Case of Malware Distribution

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While there has been controversy about the enforcement of the electronic communication provisions of Canada's Anti-Spam Law (CASL) due to the ambiguities of the complex scheme, there is widespread support for the anti-malware...more

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