This past year was marked by ever more significant data breaches, growing cybersecurity regulatory requirements at the state and federal levels and continued challenges in harmonizing international privacy and cybersecurity regulations. We expect each of these trends to continue in 2018.
As we begin this New Year, here is list … Read More
On August 7, 2017, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a cybersecurity Risk Alert summarizing its observations from its second cybersecurity survey of financial services firms. Overall, OCIE observed increased cybersecurity preparedness since its first 2014 “Cybersecurity 1” Initiative, but also the SEC noted a number … Read More
On May 17, 2017, the SEC’s Office of Compliance Inspections and Enforcement (OCIE) issued a cybersecurity alert to the securities firms it regulates. OCIE advised broker-dealers and investment companies to take certain actions in connection with the recent WannaCry and Wanna Decryptor ransomware attacks that affected numerous organizations in over … Read More
*This article first appeared in Bloomberg BNA Corporate Law & Accountability Report on February 23, 2017
On Jan. 12, 2017, the National Association of Corporate Directors (NACD) released its new “NACD Director’s Handbook on Cyber-Risk Oversight.” The NACD has suggested that directors can use this Cyber-Risk Oversight Handbook … Read More
Securities and Exchange Commission Chair Mary Jo White emphasized the agency’s focus on cybersecurity preparedness and response at a conference in Washington, D.C. in mid May, stating “we can’t do enough in this sector.” Reuters reports that Chair White views cybersecurity as the biggest risk facing the financial system, quoting … Read More
*This post originally appeared in Law360 on January 7, 2016.
While 2015 was a big year in data, 2016 may prove to be even bigger. Many hot button and game changing topics are being debated in legislative bodies and campaign trails, regulators are focused, and privacy-related litigation continues to rise. … Read More
On Friday, December 4, President Obama signed the Fixing America’s Surface Transportation (“FAST”) Act, a $300 billion-plus highway and transportation law and the first comprehensive transportation spending law in a decade. Despite its title, the bill impacts a number of regulated sectors. Nestled within this 490-page law are 13 … Read More
On September 15, 2015, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert announcing a new Cybersecurity Examination Initiative. The Alert provides the agency’s areas of focus for its next round of cybersecurity examinations of broker-dealers and investment advisers.… Read More
Although a frequent topic of discussion on Capitol Hill, no single standard for private-sector cybersecurity programs has yet to emerge. The National Institute of Standards and Technology (NIST) Cybersecurity Framework is often considered foremost among existing guidance, but several other agencies are also expressing views, including the following recent guidance … Read More