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Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

OCIE Publishes Risk Alert In Response to WannaCry Ransomware

by Dechert LLP on

The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) issued a National Exam Program Risk Alert (Risk Alert) on May 17, 2017 in response to “WannaCry,” the ongoing...more

Don't WannaCry: Ten Questions Boards and Company Management Can Ask in the Wake of Recent Ransomware Attacks

by Ropes & Gray LLP on

The WannaCry ransomware attack that hit computers around the world last week is yet another reminder that computers play key roles in most enterprises, and that it does not take much to disable those computers. Questions...more

AGG Food and Drug Newsletter - May 2017

by Arnall Golden Gregory LLP on

Arnall Golden Gregory LLP's Food and Drug Newsletter is a monthly update of legal and regulatory issues that affect the FDA-regulated community, including regular updates on legislative initiatives from AGG’s Washington, DC...more

Facebook Sentenced to a €110 Million Fine at the Intersection of Competition Law and Data Protection Law

by McGuireWoods LLP on

On May 18, 2017, the EU Commission sentenced Facebook to a “proportionate and deterrent” fine of €110 million for providing misleading information during the investigation of Facebook’s acquisition of WhatsApp. This decision...more

When “WannaCry” Strikes: Preparing for and Responding to the Largest Ransomware Attack in History

As many around the world were preparing for the Mother’s Day weekend, the WannaCry ransomware attack hit over 70,000 organizations in nearly 100 countries in just one day, Friday, May 12th. After the weekend, the attack had...more

WannaCry: What to Know and What to Do

by Snell & Wilmer on

On Friday, May 12, 2017, a malicious ransomware program known as WannaCry was discovered infecting computer systems all over the world. It set off alarms globally, and so far has infected over 200,000 computers across more...more

Compliance’s Role in Preventing the Next “WannaCry” Cyberattack

by NAVEX Global on

The global chaos unleashed by the WannaCry ransomware virus reinforces that cyberattacks are not just the problem of IT departments. Compliance must play an integral part of any organization’s cross-functional cybersecurity...more

Don't WannaCry? Then You Better Prepare: Advice for Legal and Compliance Leaders in the Wake of a Global Cyberattack

by Faegre Baker Daniels on

In the aftermath of the WannaCry ransomware attack, all organizations should take the opportunity to examine their cybersecurity protocols with an eye for optimizing practices and mitigating risks. We've outlined action items...more

SEC Emphasizes Cybersecurity Preparedness in Wake of Global Ransomware Attack

by Ballard Spahr LLP on

The U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE) has issued a Risk Alert in the wake of the widespread WannaCry ransomware attack that has inflicted hundreds of thousands...more

Cross-border Data Flows: FAQs Released for Swiss-U.S. Privacy Shield

by Reed Smith on

For organisations with data flows between the United States and Switzerland, it is now possible to self-certify into the Swiss-U.S. Privacy Shield Framework. This process became available on 12 April 2017. The Swiss-U.S....more

Australia And China Establish Cybersecurity Agreement

by King & Spalding on

On April 21, 2017, Australia and China forged an agreement to expand their cybersecurity cooperation. This agreement emerged as part of the Australia-China High-Level Security Dialogue held in Sydney. ...more

And the World’s Most Valuable Resource is . . . Data! Holy Cow, No Way!

by Kelley Drye & Warren LLP on

The Economist recently announced that the world’s most valuable resource is now data, displacing oil for the top spot. The “titans” of the digital era—Alphabet, Amazon, Apple, Facebook and Microsoft—look “unstoppable” as...more

SEC Warns of Ransomware Attacks

The U.S. Securities and Exchange Commission is asking broker-dealers, investment advisers and funds to redouble their cybersecurity efforts in wake of the global cyber-attack of the WannaCry virus that has spread to more than...more

Updated Drone Statistics in the Commercial Industry

The commercial drone market is booming. While estimates certainly vary, many research firms say that the worldwide market value will rise from $2 billion today to over $10 million within the next 10 years. Similar to the GPS...more

Settlement in Home Depot Class Action Provides Data Security Corporate Governance Framework for Companies

by Nossaman LLP on

The latest settlement in Home Depot’s data breach litigation provides a data security framework for corporate governance that may be used by other companies as a template. Based on claims arising from a massive data breach...more

Cyber Insurance: A Necessary Shield Against Digital Infiltration

The threat of a cyber-attack is hardly virtual. From covertly installing malware that holds a victim company’s data hostage, to soliciting confidential information via email under the false pretense that they are privy to...more

FAA Drone/Human Collision Analysis Study Helpful for Drone Insurance

by Rumberger Kirk & Caldwell on

The FAA recently published the results of a study that was designed to evaluate the risks of serious injury to a pedestrian resulting from a drone collision. ...more

Information Security and Privacy Group News: Five Things You Can Do to Protect Your Business From a Cyber Attack

by Murtha Cullina on

On Friday, May 12, 2017, a damaging ransomware attack swept across more than one hundred countries and infected tens of thousands of computers. As is becoming all too common, the hackers transmitted the ransomware via a...more

WannaCry Global Ransomware Attack Shows Why Businesses Should Prepare for Loss or Unwanted Encryption of Key Data

by Lathrop & Gage LLP on

“Oops, your files have been encrypted!” On Friday, May 12, 2017, employees around the world found this message on their computer screens. A massive cyberattack has used variants of the WannaCry ransomware program to infect...more

SFC Proposes Baseline Cyber Security Requirements for Internet Trading

by Hogan Lovells on

The Hong Kong Securities and Futures Commission (“SFC”) has issued a paper containing proposals to introduce cyber security guidelines under the Securities and Futures Ordinance (the “SFO”) applicable to internet brokers (the...more

Brooks Brothers Reports Payment Card Data Breach

A lawyer’s nightmare: retailer Brooks Brothers announced late last week that it has become the newest retailer to suffer a payment card data breach. According to Brooks Brothers, which is calling it a “data incident”,...more

Yesterday, #WannaCry. Today, #DocuSignPhish

Another day, another data incident. If you use DocuSign, you’ll want to pay attention. The provider of e-signature technology has acknowledged a data breach incident in which an unauthorized third party gained access to...more

Deeper Dive: Forensics

by BakerHostetler on

A company’s ability to quickly and efficiently conduct a forensic investigation is critical to limiting the impacts of a data security incident and determining the scope of the incident. In BakerHostetler’s 2017 Data...more

Third-Party Data Breaches: Weakest Link in Cybersecurity

by Revision Legal on

One problem that many companies discover as they develop cybersecurity measures is that third-party data breaches is the weakest link in its data management chain. Many companies find it a business necessity to outsource...more

Substantial Risk of Harm in Data Breach Class Actions Ripe for Supreme Court Review

by BakerHostetler on

Early in May, the U.S. Court of Appeals for the Second Circuit in Whalen v. Michaels Stores, Inc., No. 16-260 (L) (2d Cir. May 2, 2017), affirmed the dismissal of a data breach class action brought against Michaels Stores...more

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Cybersecurity

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