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New Mexico to Become 48th State to Enact Data Breach Notification Statute

Once Governor Susana Martinez signs the act into law, New Mexico will become the 48th state and 52nd US jurisdiction to adopt notification obligations for entities that have experienced a data breach....more

Marijuana and Privacy: A Primer

Legal marijuana is America’s fastest-growing industry. According to ArcView Market Research, cannabis revenue is expected to exceed $22 billion by 2020—nearly double that of the NFL. This past year, Colorado saw its sales...more

New Mexico, One of the Last Holdouts, Sends Data Breach Notification Law to Governor

New Mexico is one of the few remaining states to not have a law requiring companies to notify consumers when their information is part of a data breach. This, however, might change very soon. Last Wednesday, the New Mexico...more

Financial Services Report - Spring 2017

EDITOR’S NOTE - In like a lion, out like a lamb—it works for weather; does it work for new administrations? We’ll have to wait and see. We’ll have to wait and see about the length of CFPB Director Richard Cordray’s...more

Three Lessons All Companies Can Learn from the Data Breaches that Cost Yahoo $350 Million

Yahoo Inc. recently disclosed three massive data breaches, which compromised the personal information of 1.5 billion users and cost Yahoo $350 million in its acquisition by Verizon Communications Inc. Additionally, the...more

It’s March 1: The Cybersecurity Goal Post Has Been Moved

In an effort to combat the growing prevalence of large-scale corporate cyberattacks, the New York Department of Financial Services (“NYDFS”) is rolling out a revamped cybersecurity regulation for financial services companies...more

Friend or Foe? State Attorneys General Start to Change Their Tune on Industry & Cybersecurity

Should businesses be thought of as victims or bad actors when it comes to data breaches? State attorneys general are embracing the idea that businesses are not necessarily adversaries in the struggle to protect sensitive...more

Employees Expecting Tax Refunds? So Are Your Hackers

With the beginning of the 2016 tax season, employers should be on high alert for the wave of W-2 spear phishing scams coming their way once again this year. Companies that fall victim to this type of scam likely will be faced...more

Business Cybersecurity: Two Recent Court Decisions Highlight the Need to Take Preemptive Action Against Data Breaches

Nowadays, the prudent business owner should be cognizant of cybersecurity and the public relations and legal costs that can arise from a data breach. By holding personal information of customers, employees, or anyone else,...more

W-2 Phishing Scammers Are Targeting Tech Companies

The W-2 phishing scams are back. Fraudsters have learned that W-2 phishing scams can be highly effective when targeting businesses while they are handling and sending employee income-tax-related documents early in a new year....more

SEC's New Rule Requires Additional Disclosures on Form ADV

On January 12, 2017, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) published its 2017 examination priorities.1 OCIE’s 2017 priorities, which largely mirror its 2016 priorities, cover three areas: (1)...more

Internet of Things: Navigating Privacy, Data Security, and Client Trust in the Age of Big Data

In-house attorneys Olga Mack and Katia Bloom on risk management, data security, privacy, and client trust in the rapidly developing IoT Age....more

Deals and Data: Cybersecurity M&A Due Diligence

Cybersecurity due diligence is quickly becoming part of standard best practices in Merger & Acquisition (“M&A”) deals. Traditionally, the primary goal of due diligence is to investigate the target of a merger or acquisition...more

FINRA Fines Lincoln Financial Sub $650,000 For Cybersecurity Shortcomings

A Lincoln Financial Group subsidiary agreed to pay $650,000 to the Financial Industry Regulatory Authority (FINRA) to resolve allegations that it failed to implement sufficient security policies to protect confidential...more

Cybersecurity 2017 – The Year In Preview: Trade Secret Theft Takes Center Stage

Editor’s Note: This is the first of an end-of-year series of posts examining coming trends in cybersecurity. Posts will examine trends in state regulations, federal regulatory authority, the changing nature of the threat...more

Cybersecurity liability: Delaware has good news for directors

The Delaware Chancery Court just issued an opinion that will have directors breathing a sigh of relief in connection with cybersecurity risks. In its opinion – Reiter v Fairbank, C.A. No. 11693-CB (Del. Ch. Oct. 18, 2016) –...more

Consider Cyberliability and Network Business Interruption Insurance Coverage in Light of Recent DDoS Internet Attack

The October 21, 2016 DDoS attack on the internet’s domain name system infrastructure underscores the need to consider cyberliability insurance coverage as a critical component of your company’s security and privacy breach...more

Court confirms that IP addresses are personal data in some cases

The Court of Justice of the European Union has held that IP addresses are "personal data" in certain circumstances. This decision is significant because it means that the collection and further processing of IP addresses may...more

October is National Cybersecurity Awareness Month!

This annual campaign is an effort by the U.S. Department of Homeland Security to raise awareness about data security threats. The Privacy & Data Security Group at McNees urges you on this occasion to consider whether...more

FTC Releases Data Breach Response Guide

On October 25, the Federal Trade Commission (FTC) released new guidance for businesses that outlines recommended actions to take when facing a data breach. This data breach response guide (Guide) follows the FTC's prior...more

FFIEC Releases Answers To FAQs About Cybersecurity Assessment Tool

On October 17, 2016, the Federal Financial Institutions Examination Council (“FFIEC” or the “Council”) released a set of answers to frequently asked questions about its cybersecurity assessment tool (the “CAT”). The FFIEC, an...more

Bitcoin: Cybersecurity Regulations on the Horizon?

As legislators grapple with creating legislation intended to bring virtual currencies, such as bitcoin, within the scope of anti-money laundering regulations, the vulnerability of Bitcoin exchanges to theft and other cyber...more

Coal Plant Shutdowns: Operators Have Cyber Protection Obligations Even After Closing

As Yogi Berra used to say: “It ain’t over till it’s over.” Coal plant operators shutting down their plants should remember this phrase. Even after they throw the breakers, go off the grid, are no longer contributing to the...more

Cyber Security Takes Centre Stage in UK Government’s Strategy

The UK Department for Culture, Media and Sport recently released a statement on cyber security, in which it urged businesses to take better care to protect against cyber criminals. This statement follows publication of its...more

Cybersecurity Advice to CEOs and Boards “Take more responsibility”!

The White House and its top security advisors are regularly advised about cyberintrusions and as a result the “time has come for CEOs and Boards to take personal responsibility for improving their companies’ cyber security”...more

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Cybersecurity

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