Category

Cybersecurity

15 April 2015

Connecticut AG creates new department focusing exclusively on privacy and data security

Connecticut Attorney General George Jepsen has announced the creation of a new Privacy and Data Security Department within the AG’s office. The Department will be tasked with handling all consumer privacy investigations and litigation, as well as educating the public and businesses about protecting sensitive data. Assistant Attorney General Matthew Fitzsimmons, who previously chaired a privacy and data security task force within the AG’s office, will head the new department and its dedicated team of lawyers. The AG has not received any additional funding for the Department.

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15 April 2015

Data Protection Legislative Hot Topic

Cyberthreat Sharing Bills Gain Momentum.  On March 12, the Senate Intelligence Committee approved the Cybersecurity Information Sharing Act of 2015 (“CISA”) to increase sharing of cybersecurity threat information by U.S. companies on a vote of 14-1. The legislation grants liability protections for companies that voluntarily share cybersecurity threat information with the government or industry partners. The measure should be scheduled for a vote on the Senate floor shortly.

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02 April 2015

New U.S. Sanctions Program Targets Malicious Foreign-Origin Cyber Activities

Yesterday, the United States established a new sanctions program designed to deter and financially target foreign parties who engage in, support or profit from “significant malicious cyber-enabled activities.” Declaring a national emergency, President Barack Obama issued an executive order authorizing the Secretary of the Treasury, in consultation with the Attorney General and Secretary of State, to identify as Specially Designated Nationals and Blocked Persons (SDNs) cyber-actors whose activities significantly harm the national security, foreign policy or economic health or financial stability of the United States. The U.S. government has not yet designated any parties under this new sanctions program. Once parties are so designated, U.S. companies must cease doing business with them and report any blocked property to the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC).

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17 March 2015

Increasing Scrutiny of Insurance Companies’ Cybersecurity Preparedness

“A question we often get as financial regulators is: ‘What keeps you up at night?’ The answer is ‘a lot of things.’ But right at the top of the list is the cybersecurity at the financial institutions we regulate.”

Benjamin Lawsky, prepared remarks from speech at Columbia Law School on February 25, 2015.1

Insurance regulators are gearing up to impose enhanced scrutiny on information security practices to boost protection of sensitive personal information.

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01 November 2014

The Privacy, Data Protection and Cybersecurity Law Review

The first edition of The Privacy, Data Protection and Cybersecurity Law Review appears at a time of extraordinary policy change and practical challenge for this field of law and regulation. Several Sidley lawyers in the Privacy, Data Security and Information Law practice have contributed to this publication.

Editor’s Preface, Alan Charles Raul

  • Chapter 1, “European Union Overview,” William Long, Geraldine Scali and Alan Charles Raul
  • Chapter 2, “APEC Overview,” Catherine Valerio Barrad and Alan Charles Raul
  • Chapter 9, “Hong Kong,” Yuet Ming Tham and Joanne Mok
  • Chapter 12, “Japan,” Takahiro Nonaka
  • Chapter 16, “Singapore,” Yuet Ming Tham, Ijin Tan and Teena Zhang
  • Chapter 20, “United Kingdom,” William Long and Geraldine Scali
  • Chapter 21, “United States,” Alan Charles Raul, Tasha D Manoranjan and Vivek Mohan
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05 August 2014

New York State Department of Financial Services Proposes Broad Licensing Requirements for Businesses Engaged in Virtual Currency Activities

On July 17, 2014, the New York State Department of Financial Services (“DFS”) issued for public comment its proposed “BitLicense” regulatory framework1 (the “Regulations”) and an accompanying press release.2 The release of the proposed Regulations follows the DFS announcement on March 11, 2014 that DFS would consider proposals and applications in connection with the establishment of virtual currency exchanges in New York.3

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25 April 2014

OCR Levies Nearly $2 Million in HIPAA Fines for Stolen Unencrypted Laptops

On Tuesday, April 22, 2014, the U.S. Department of Health and Human Services Office for Civil Rights (“OCR”) announced that Concentra Health Services Inc. (“CHS”) and QCA Health Plan Inc. (“QCA”) have agreed to pay a total of $1,975,220, collectively, to resolve potential violations of the Health Insurance Portability and Accountability Act (“HIPAA”) Privacy and Security Rules stemming from the theft of unencrypted laptops. Specifically, CHS has agreed to pay $1,725,220, and QCA has agreed to pay $250,000, to OCR to settle potential HIPAA violations and will adopt corrective action plans to evidence their remediation of the potential violations. The clear message from both settlements is that OCR expects covered entities to encrypt mobile devices that store electronic Protected Health Information (“ePHI”).

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24 April 2014

Cybersecurity Developments: SEC, FINRA, NIST, DOJ/FTC

SEC Launches Cybersecurity Examination Initiative – Promoting Cyber Preparedness

On April 15, 2014 the Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert announcing that the agency will be examining 50 registered broker-dealers and investment advisers in order to assess cybersecurity preparedness in the securities industry.1 The announcement was accompanied by a sample request for information and documents. According to OCIE, the examinations will focus on “cybersecurity governance, identification and assessment of cybersecurity risks, protection of networks and information, risks associated with remote customer access and funds transfer requests, risks associated with vendors and other third parties, detection of unauthorized activity, and experiences with certain cybersecurity threats.”

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