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Corporate Law & Governance Update - December 2016

EMPHASIS ON DIRECTOR EDUCATION - The board development committee may wish to reconsider its director education program for 2017 following two recent and unrelated developments. The first is a greater articulation of...more

Unfair and Unbalanced-the Victimization Episode [Video]

In this episode Roy Snell and I discuss: Victimization and the value of personal responsibility; Standing up for your principles; The idea that you can make your sales goals without breaking the law; Roy translates wink...more

Tennessee Amends Its Data Breach Notification Laws

Removes the Encryption Safe Harbor, Limits the Timing of Notice, and Expands “Unauthorized Persons” - Effective July 1, 2016, Tennessee becomes the first state to remove the encryption safe harbor from its data breach...more

DHS/DOJ Issue Guidance on Cyber Threat Info Sharing

On February 16, 2016, the Department of Homeland Security (DHS) and Department of Justice (DOJ) issued “guidance” to assist federal agencies and non-federal entities in implementing the Cybersecurity Act of 2015.  The Act was...more

New Cybersecurity and Privacy Initiatives Announced In President Obama’s Final Budget

On February 9, 2016, in connection with his annual budget request, President Obama announced a $19 billion Cybersecurity National Action Plan (CNAP) that the White House has described as a “capstone” to seven years of...more

New Bill Would Require Cybersecurity Disclosures by Publicly Traded Companies

Why it matters - In the continuing efforts to enact cybersecurity legislation and advise the public about cybersecurity preparedness, a new bill introduced in the Senate would mandate that publicly traded companies...more

Financial Services Legislation: 2015 in Review and What to Expect in 2016

To the surprise of many, Congress passed a number of financial services bills in 2015, including six that amended the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010....more

Key CISA Provisions Impacting Private Entities

On December 18, 2015, President Obama signed the Cybersecurity Information Sharing Act (“CISA”), which was the culmination of intense negotiations that reconciled three separate cybersecurity bills passed by the U.S. Senate...more

Cybersecurity and Data Privacy: New Cybersecurity Bill Introduced in Senate Would Effectively Force Public Companies to Address...

In response to the increase of cybersecurity attacks and data breaches in recent years, some companies have begun to recruit cybersecurity experts to their board of directors. On December 17, 2015, U.S. Senators Jack Reed...more

Florida’s CADRA a Powerful New Data Protection

Florida businesses will soon have an important and powerful new legal cause of action to combat unauthorized access to protected computer systems or data by employees, former employees, directors, officers, and others....more

Illinois Governor Vetoes Data Protection Bill; Suggests Revisions

Illinois Governor Bruce Rauner vetoed a bill amending the state’s data breach notification law on August 21, 2015, saying in a letter to the General Assembly that the bill “goes too far, imposing duplicative and burdensome...more

House Passes Cyber Sharing Bills and Congress is Focusing on Data Protection

On Wednesday, April 22, 2015, the U.S. House of Representatives passed the Protecting Cyber Networks Act ("PCNA"), which would give companies certain liability protection against potential lawsuits when sharing cyber threat...more

Cybersecurity Workforce Measures Present Business Opportunities

As part of the federal government’s efforts to address cybersecurity needs in our age of state-sponsored hacking and other high-profile data breaches, the Department of Homeland Security (DHS) will soon undertake a...more

The Evolving U.S. Cybersecurity Landscape: What Firms Want to Know

Following a year of high-profile data breaches, the Securities and Exchange Commission (SEC) announced on January 13, 2015 that, for the second consecutive year, its Office of Compliance Inspections and Examinations (OCIE)...more

Cyber-Security Issues Receiving Ever-Increasing Attention, Including From Congress and Governmental Agencies

On the heels of a recent survey that found that cyber-security is becoming the primary concern of corporate general counsels and directors, see C. Dunn, Cybersecurity Becoming No. 1 Concern for GCs and Directors, Corporate...more

You’ve Got Mail: Senator Rockefeller Sends Letter to CEOs re: Cybersecurity….Reply Requested

Senator John D. Rockefeller IV (D., W.Va.) recently sent a letter to the CEOs of all Fortune 500 companies asking the companies for more information about their cybersecurity practices. The letter comes a month after Senate...more

New Data Breach Reporting Requirement to Connecticut Attorney General Passed as Part of Connecticut Legislature’s Budget Bill

For those of us who were watching this proposed legislation unsuccessfully move its way through the 2012 General Session, we see now that it was passed as part of the Connecticut General Assembly’s Special Session by...more

Lead Director Networks: Viewpoints - May 2012

Introduction On April 3, 2012, the Lead Director Network (LDN) gathered in Washington, DC, for its 12th meeting. Members examined the role of the board and lead director in overseeing strategic risks. This issue of...more

House Passes Cybersecurity Bill Despite Controversy

Business executives and national security leaders are of one mind over the need to improve the security of computers that control elements critical to the U.S. infrastructure. But the two groups are divided over the question...more

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