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Financial Institutions › Cyber Attacks › Incident Response Plans

Troutman Pepper Locke

OCC Notifies Congress of Major Email System Security Breach

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On April 8, the Office of the Comptroller of the Currency (OCC) officially notified Congress of a significant information security incident involving its email system. This notification, mandated by the Federal Information...more

Polsinelli

FTC Adopts Data Breach Notification Obligations for Non-Banking Financial Institutions

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On October 27, 2023, the Federal Trade Commission (“FTC”) adopted an amendment to the FTC’s Safeguards Rule that will require non-banking financial institutions to notify the FTC within thirty days of discovering a data...more

Morrison & Foerster LLP - Social Media

N.Y.’s New Cybersecurity Regulations: What Financial Services Companies Need to Know

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With corporate data security breaches on the rise, the New York State Department of Financial Services (NYDFS) has adopted rules requiring financial institutions to take certain measures to safeguard their data and inform...more

Robins Kaplan LLP

Lessons from the Wells Fargo Scandal

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Financial institutions must meet standards for safeguarding customer data given the particularly sensitive information they hold, and regulators have been stepping up their efforts to provide guidance on just how they must do...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

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Financial Industry Developments - Agencies Issue Advanced Notice of Proposed Rulemaking on Enhanced Cyber Risk Management Standards - On October 19, 2016, the Federal Reserve Board, the Federal Deposit Insurance...more

Ballard Spahr LLP

Federal Banking Agencies Propose New Requirements for Managing Cyber Risk

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Three federal banking agencies have announced plans to develop new rules that would establish cyber risk management and resiliency standards for large interconnected entities under the agencies' supervision, as well as those...more

Orrick, Herrington & Sutcliffe LLP

Aravind Swaminathan Weighs in on Proposed Cybersecurity Regulations for Financial Institutions

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Aravind Swaminathan, global co-chair of Orrick’s Cybersecurity & Data Privacy team, recently spoke with Global Investigations Review regarding new plans proposed by New York’s Department of Financial Services that will...more

Alston & Bird

FFIEC Warns of Increase in Cyber Attacks Involving Extortion, Encourages Financial Institutions to Develop Response Programs

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Last week, the Federal Financial Institutions Examination Council (FFIEC) issued a joint statement warning of an “increasing frequency and severity of cyber attacks involving extortion.” The statement warned that criminals...more

Spilman Thomas & Battle, PLLC

Community Banking Excellence - Issue 3, 2015

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In This Issue: - Another Perspective - James C. Cherry, Chief Executive Officer, Park Sterling Bank: With more than three decades of experience in banking in North Carolina and Virginia, Park Sterling's CEO James C....more

Ballard Spahr LLP

CFPB Information Security Remains a Challenge

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The Office of the Inspector General (OIG) has released the “2015 list of major management challenges” faced by the CFPB that the OIG believes will hamper the CFPB’s ability to accomplish the CFPB’s strategic objectives. Like...more

Perkins Coie

SEC’s Increased Cybersecurity Enforcement and How to Reduce Your Risks

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The SEC announced last week that an investment adviser had agreed to settle charges that it failed to take required steps to protect against and respond effectively to a cybersecurity breach. The action comes on the heels of...more

BakerHostetler

The SEC OCIE Announces Increased Scrutiny of Broker-Dealers’ and Investment Advisers’ Cybersecurity Programs

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On September 15, 2015, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a National Exam Program Risk Alert (2015 Risk Alert) to provide broker-dealers and investment...more

Bradley Arant Boult Cummings LLP

Data Breach Response Planning: Laying the Right Foundation

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Part of Bradley Arant’s Privacy and Information Security Team’s seven-part Data Breach Toolkit Webinar Series, the “Data Breach Response Planning: Laying the Right Foundation” webinar, led by Paige Boshell and Amy Leopard,...more

Burr & Forman

OCIE to Conduct More Cybersecurity Exams

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This week the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) announced a second-round of cybersecurity examinations, continuing its initiatives on the issue. The move follows the SEC’s: March 2014 roundtable...more

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