Broker-Dealers Need to Respond to Recent Focus on Cybersecurity Threats

Recent data breaches at retailers like Target have increased awareness about growing cybersecurity threats. Broker-dealers in particular need to reevaluate their own cybersecurity preparedness in light of several recent events:

  1. FINRA’s launch of a cybersecurity sweep, publicly announced on the FINRA website on February 6, 2014;
  2. The inclusion of cybersecurity as a priority in the SEC’s National Examination Program for 2014 and FINRA’s 2014 Annual Regulatory and Examination Priorities Letter;
  3. The White House’s February 12, 2014 release of the much-anticipated Framework for Improving Critical Infrastructure Cybersecurity; and
  4. An upcoming SEC public roundtable on cybersecurity issues, to be held in Washington, DC on March 26, 2014.

Read More

EmailShare

Advisory Guidelines on the Singapore Do Not Call Provisions: The Personal Data Protection Act

On December 26, 2013, Singapore’s Personal Data Protection Commission (the “Commission”) issued advisory guidelines on the “Do Not Call” Provisions (“DNC Guidelines”) of the Personal Data Protection Act 2012 (Act 26 of 2012) (“the Act”). The DNC Guidelines supplement the Commission’s earlier issued Advisory Guidelines1 on the Act. The DNC Provisions came fully into effect on January 2, 2014, and the DNC Guidelines serve to illustrate particular aspects of the DNC Provisions, though “they are not meant to exhaustively address every obligation in the Act.”2

Read More

EmailShare

White House Releases NIST Cybersecurity Framework

On February 12, the White House released the widely anticipated Framework for Improving Critical Infrastructure Cybersecurity (“the Framework”). Developed pursuant to Executive Order 13636 (issued in February 2013), the Framework strongly encourages companies across the financial, communications, chemical, transportation, healthcare, energy, water, defense, food, agriculture, and other critical infrastructure sectors to implement and comply with its voluntary standards. The provisions set forth in the Framework may establish a new baseline for industry standard practices, and may impact or guide FTC enforcement actions and plaintiff data breach lawsuits.

Read More

EmailShare

Changes to CLIA and HIPAA Provide Greater Patient Access to Laboratory Test Reports

On February 3, 2014, the U.S. Department of Health and Human Services (HHS) released a long-awaited final rule that amends the Clinical Laboratory Improvement Amendments of 1988 (CLIA) regulations and the Health Insurance Portability and Accountability Act of 1996 (HIPAA) privacy regulations to permit patients and their personal representatives to access laboratory test reports. By requiring expanded access, HHS rejects what some have characterized as “paternalistic” arguments that such reports are complicated and should be provided only through treating physicians. HHS justifies the rule as necessary to empower patients to take an active role in managing their health and healthcare. As anyone who has tried to interpret a laboratory test report can attest, whether the stated objectives of the new rule will be achieved has yet to be seen.

Read More

EmailShare

European Parliament’s Civil Liberties Committee Report calls for immediate suspension of Safe Harbor

A draft report by the European Parliament’s Civil Liberties Committee (the LIBE Committee) indicates that it is attempting to fundamentally alter the existing compliance mechanisms for transferring personal data from Europe. The recently leaked draft is dated December 23, 2013 and expresses the LIBE Committee’s response to the U.S. NSA surveillance programs, surveillance in various EU Member States and the impact on EU citizen’s fundamental rights and on transatlantic cooperation (the Report).

Read More

EmailShare

Data protection challenges in the new era of Big Data

Data Protection Law & Policy

“Data is the new oil” – This statement by Neelie Kroes in 2011 has since been on everyone’s mind and with the constant development of new technologies, the importance of data has grown dramatically over the past few years and in recognition of this it seems that we have now entered into a new era: the era of Big Data. William Long and Geraldine Scali, Partner and Associate respectively at Sidley Austin LLP explore the potential data protection issues that may arise.

View Article

EmailShare
EmailShare
XSLT Plugin by BMI Calculator