Category

Cybersecurity

22 March 2022

White House Urgent Warning: Act Now to Protect Against Potential Russian Cyberattacks

On March 21, 2022, the White House issued a dramatic warning based on “evolving intelligence” about the potential for Russia to threaten America with cyber attacks in response to U.S.-imposed economic sanctions. In a separate statement, President Biden said that “the Russian Government is exploring options for potential cyberattacks.” … Read More

EmailShare
21 March 2022

Congress Passes Cyber Incident Reporting for Critical Infrastructure Act of 2022

The U.S. Congress has passed a significant new cybersecurity law that will require critical infrastructure entities to report material cybersecurity incidents and ransomware payments to the Cybersecurity and Infrastructure Security Agency (CISA) within 72 and 24 hours, respectively. The reporting requirements will cover multiple sectors of the economy, including chemical … Read More

EmailShare
15 March 2022

Executive Order on Ensuring Responsible Innovation in Digital Assets

On March 9, 2022, President Joe Biden signed an executive order (EO) to engage several federal agencies in a comprehensive review of the federal government’s approach to cryptocurrencies and digital assets. The broad scope of the EO outlines a unified, “whole-of government” approach to developing policy for digital assets across … Read More

EmailShare
11 March 2022

Newly Proposed SEC Cybersecurity Risk Management and Governance Rules and Amendments for Public Companies

On March 9, 2022, the U.S. Securities and Exchange Commission (SEC) proposed new cybersecurity rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies. The text of the proposed rules is available here. The SEC proposal would continue to ratchet up … Read More

EmailShare
09 March 2022

DOJ’s First “Cyber-Fraud” Settlement Targets Healthcare Provider

Yesterday DOJ announced its first settlement under the Department’s new “Cyber-Fraud Initiative.”  This initiative, announced in October 2021, aims to “utilize the False Claims Act to pursue cybersecurity related fraud by government contractors and grant recipients.”  However, as discussed further here, in addition to targeting traditional government contractors, … Read More

EmailShare
09 March 2022

Data Protection in Financial Services Week 2022

WEBINAR

From February 28-March 3, Sidley and OneTrust DataGuidance hosted their annual Data Protection in Financial Services (DPFS) Week, a series of webinars looking at the impacts of data privacy across the financial sector. Industry speakers covered a range of issues including:

  • How the latest privacy and cybersecurity developments in
Read More
EmailShare
04 March 2022

Newly Proposed SEC Cybersecurity Risk Management Rules and Amendments for Registered Investment Advisers and Funds

On February 9, 2022, the U.S. Securities and Exchange Commission (SEC) proposed comprehensive rules for registered advisers and funds. Among other things, these rules will require advisers and funds to implement written policies and procedures designed to address cybersecurity risks, report significant cybersecurity incidents to the SEC within 48 hours
Read More
EmailShare
03 March 2022

U.S. Government Issues Warning of Threat Against U.S. Critical Infrastructure

On February 25, 2022, in light of Russia’s attack on Ukraine, and months of continuing Russian state-sponsored cyberattacks on Ukrainian government and critical infrastructure organizations, the Cybersecurity and Infrastructure Security Agency (CISA) issued a “Shields Up” warning to American critical infrastructure organizations and businesses, stating that “[e]very organization—large and small—must … Read More

EmailShare
10 February 2022

SEC Chair: Sweeping New Cybersecurity Rules Are Coming Soon

On Monday, January 24, 2022, in a speech at the Northwestern University Pritzker School of Law annual Securities Regulation Institute conference, Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), announced that he has asked SEC staff to provide sweeping rulemaking recommendations to modernize and expand the agency’s … Read More

EmailShare
07 February 2022

Preparing Your 2021 Form 10-K: A Summary of Recent Key Disclosure Developments, Priorities, and Trends

This Sidley Practice Note highlights certain key disclosure considerations for preparing your annual report on Form 10-K for fiscal year 2021, including recent amendments to U.S. Securities and Exchange Commission (SEC) disclosure rules and other developments that impact 2021 Form 10-K filings, as well as certain significant disclosure trends and … Read More

EmailShare