NAIC Drafts Cybersecurity “Bill of Rights” for Insurance Consumers

On July 27, 2015, the Cybersecurity Task Force (Cybersecurity Task Force) of the National Association of Insurance Commissioners (NAIC) released a draft cybersecurity “Bill of Rights” suggesting certain rights for insurance consumers to have their personal information protected by insurance companies, insurance producers and other entities regulated by state insurance departments. Comments on the draft were due by close of business on August 10, 2015 and a final version could be adopted during the NAIC’s upcoming National Meeting in Chicago in mid-August 2015. The Cybersecurity Bill of Rights is one of several insurance regulatory measures designed to safeguard personal information of insurance consumers, which is particularly vulnerable in data breaches because it often contains social security numbers, financial information, addresses and sensitive medical information.  Cybersecurity has become an even higher priority among insurance regulators since the Anthem, Inc. data breach and the NAIC formed the Cybersecurity Task Force to coordinate regulatory efforts in this area.

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Securities Firm Avoids FTC Action for Data Security Practices Due to Adoption of Insider Threat Program

On April 10, 2015, the FTC closed its data security investigation of a securities firm after one of its employees moved the  personal information of the certain of the firm’s wealth management clients to personal devices and a personal website.  Ultimately, the personal data became available on publicly accessible websites.

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NIST Releases New and Updated Information Security Guidance

In an effort to address growing concerns about security vulnerabilities in both the public and private sectors, the National Institute of Standards and Technology (NIST) has released a flurry of new and updated information security recommendations.  The latest recommendations address protections for sensitive data held by federal contractors, encryption standards, and security for federal Smart ID cards.

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New Chinese National Security Law Brings Further Focus to Global Cybersecurity

On July 1, 2015, China’s top legislature adopted a new National Security Law (中华人民共和国国家安全法), highlighting cyber security and paving the way for a coordinated crisis management system.  The law aims to provide a general legislative framework to cover a wide range of areas, ranging from finance, politics, the military and cyber security to culture, ideology and religion.

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FCC Issues Far-Reaching TCPA Declaratory Ruling

An already active TCPA class action bar is sure to become even more active after a significant Declaratory Ruling and Order from the FCC that, among other points, broadened what technologies may be considered autodialers, gave further strength to class actions based on reassigned cell numbers, and muddied the waters for constructing compliance mechanisms to support consumer revocation of consent.

On July 10, 2015, the Federal Communications Commission issued a declaratory ruling to resolve various concerns raised by 21 petitions regarding the Commission’s implementation of the Telephone Consumer Protection Act, which carries a $500 penalty for each call or text in violation.

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The Impending Russian Data Localization Law

We are rapidly approaching the effective date for the so-called Russian “data localization law,” a development that prompted considerable backlash from the global business community and could have significant consequences for entities operating in the Russian market.  In July 2014, Russia adopted Federal Law No. 242-FZ, which in effect requires that information a company holds pertaining to Russians must be stored on servers physically located within Russia.  These obligations apply to individuals in their capacity as employees as well as consumers; thereby impacting even companies that do not maintain brick-and-mortar operations in Russia.

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