By

Sujit Raman

30 August 2021

SEC Continues Focus on Cybersecurity Disclosure Failures, Announces Settled Charges Against Pearson plc

Through its announcement of settled charges against Pearson plc (Pearson) on August 16, 2021, the U.S. Securities and Exchange Commission signaled its continued, high level scrutiny of companies’ public statements related to data security incidents.1 Without admitting or denying the SEC’s findings, Pearson agreed to a cease and desist … Read More

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24 June 2021

SEC Announces Settled Charges Against First American for Cybersecurity Disclosure Controls Failures – Lessons Learned

On June 15, 2021, the SEC announced settled charges against First American Title Insurance Company (First American) for disclosure controls and procedures violations related to a cybersecurity vulnerability that exposed sensitive customer information.1  Without admitting or denying the SEC’s findings, First American agreed to a cease-and-desist order and to … Read More

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04 June 2021

TSA Issues Directive to Enhance Pipeline Cybersecurity

The U.S. Department of Homeland Security’s Transportation Security Administration (“TSA”) issued a Security Directive, “Enhancing Pipeline Cybersecurity” on May 28, laying out new cybersecurity requirements for operators of liquids and natural gas pipelines and LNG facilities designated as critical infrastructure.

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14 May 2021

Major Executive Order on Cybersecurity Aims to Fortify Defenses and Coordinate U.S. Response to Growing Epidemic of Cyberattacks

The Biden administration issued a lengthy Executive Order, “Improving the Nation’s Cybersecurity,” on May 12, which it described as the “first of many ambitious steps” toward modernizing U.S. cybersecurity defenses. The White House simultaneously issued an explanatory fact sheet and background press call.

Pursuant to the Order, government agencies will … Read More

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10 March 2021

EU Council Agrees on Proposed ePrivacy Regulation

On February 10, 2021, the Council of the European Union (which includes representatives of the European Union (EU) member states, hereinafter Council) reached an agreement on the ePrivacy Regulation proposal that governs the protection of privacy and confidentiality of electronic communications services (ePrivacy Regulation).

The first draft of the ePrivacy … Read More

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10 February 2021

New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. 2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. Issuance of the Framework is notable as it represents the first official guidance by a … Read More

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27 January 2021

FCC Standardizes and Formalizes “Team Telecom” Review

Foreign investment in many entities regulated by the U.S. Federal Communications Commission (FCC) has long been subject to an interagency review process for the consideration of national security, foreign policy, and trade policy issues, referred to as “Team Telecom.” Pursuant to an April 2020 executive order and an October 2020 … Read More

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24 December 2020

FinCEN Proposes Tracking and Reporting Virtual Currency Transactions Involving Unhosted Wallets

On December 18, 2020, the Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking (NPR) regarding a proposal to impose on banks1 and money service businesses (MSBs) new recordkeeping, reporting, and identity verification requirements in relation to certain transactions involving convertible virtual currency (CVC) or digital assets … Read More

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