FTC Proposes Significant and Sweeping Changes to COPPA and Requests Public Comment
On January 11, 2024, the Federal Trade Commission (“FTC”) published its Notice of Proposed Rule Making (“NPRM”) seeking to update the FTC’s Children’s Online Privacy Protection Act (“COPPA”) Rule in the Federal Register. Among other things, the proposed changes would require more granular privacy notices, require fairly detailed identification of, and parental consent to, third-party data sharing (including targeted advertising), expand the scope of personal information subject to COPPA, make it easier for parents to provide consent via text message, clarify various requirements around EdTech, including school authorization for parental consent, and impose significant new programmatic information security and data retention requirements.
UK Publishes Cyber Governance Code of Practice for Consultation
On 23 January 2024, the UK government published its draft Cyber Governance Code of Practice (the “Code”) to help directors and other senior leadership boost their organizations’ cyber resilience. The draft Code, which forms part of the UK’s wider £2.6bn National Cyber Strategy, was developed in conjunction with several industry experts and stakeholders – including the UK National Cyber Security Centre. The UK government is seeking views from organizations on the draft Code by 19 March 2024.
New Export Controls on Advanced Computing and Semiconductor Manufacturing: Five Key Takeaways
On October 25, 2023, the U.S. Department of Commerce Bureau of Industry and Security (BIS) published updated export controls on advanced computing items and semiconductor manufacturing equipment under the Export Administration Regulations (EAR). Specifically, BIS published two interim final rules that revise and expand on the restrictions implemented in the initial interim final rule issued on October 7, 2022 (October 7, 2022 rule).1
U.S. SEC Division of Exams Announces 2024 Examination Priorities
On October 16, 2023, the U.S. Securities and Exchange Commission (SEC) Division of Examinations (EXAMS or Division) issued its annual examination priorities, which, for the first time, was published at the start of the SEC’s fiscal year to “better inform investors and registrants of key risks, trends, and examination topics” the Division intends to focus on in the coming year.1
SEC’s Cybersecurity Disclosure Rules Are Here. Is Your Company Ready to Comply?
Companies are facing more attacks on their information systems. And, as their cyber risk skyrockets, the SEC has stepped in with new regulations, telling businesses what to disclose about these incidents — and requiring detailed disclosures on cyber risk management more broadly. With the deadline for compliance fast approaching, businesses are scrambling to mitigate their legal risk and comply with regulations that some say may be an overreach.
