Category

Cybersecurity

20 September 2021

Regulatory Update: NAIC Summer 2021 National Meeting

The National Association of Insurance Commissioners (NAIC) held its Summer 2021 National Meeting (Summer Meeting) August 14-17, 2021. As a result of the continuing COVID-19 pandemic, the NAIC met in a hybrid format with attendees participating both in person and virtually. This post summarizes the highlights from this meeting in … Read More

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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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17 August 2021

FFIEC Guidance on Authentication and Access to Financial Institution Services and Systems

On August 11, 2021, the Federal Financial Institutions Examination Council (FFIEC)1 issued guidance establishing risk management principles and practices to support the authentication of users accessing a financial institution’s information systems and customers accessing a financial institution’s digital banking services (the Guidance). The Guidance is not intended to serve … 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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21 June 2021

Federal Government Interest in Cyber Continues: Congressional Hearings on the Colonial Pipeline Cyberattack

On May 7, 2021, Colonial Pipeline experienced a ransomware cyberattack on its corporate network. This attack, attributed to the DarkSide hacking group, led the company to temporarily halt the operation of its pipeline network—causing fuel shortages throughout the East Coast. Although highly publicized, the Colonial Pipeline cyberattack is not unique. … Read More

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16 June 2021

The U.S. Innovation and Competition Act: Senate Passes Sweeping $250 Billion Bill to Bolster Scientific Innovation and Compete With China

On Tuesday, June 8, 2021, the U.S. Senate adopted by a 68-32 vote S. 1260, the United States Innovation and Competition Act, a nearly 2,400-page, $250 billion bill designed to boost U.S. semiconductor production, scientific research, development of artificial intelligence, and space exploration in the face of growing economic, technological, … 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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