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Regulation of Fintech in Canada

by Dentons on

This article provides Fintech startups and investors with an overview of the regulatory framework that applies to the Fintech industry and the issues that they need to be aware of as they navigate the shifting regulatory...more

Banks’ Boards of Directors Face New Cybersecurity Challenges

by BakerHostetler on

Banks’ boards of directors must, among other things, understand the risks associated with existing and planned IT operations, monitor risk management, and work with senior bank managers on strategic technology planning. See...more

Data Breach Risks for 401(k) and Retirement Plans

by Jones Day on

There has been a recent spike in attacks on 401(k) and retirement plans by cyber criminals. Some have been reported publicly, and we are aware of several nonpublic incidents as well....more

SWIFT Shores Up Network Security With Real Time Cybersecurity Tools

In an effort to combat an increasing number of fraudulent transfers carried out using its network, SWIFT, the international bank transfer network, announced this month that it is adding new tools and controls designed to...more

Colorado Regulator Proposes New Cybersecurity Rules for Financial Institutions

Increasingly, states are enacting cybersecurity regulations for financial institutions and investment advisors. Following New York’s groundbreaking regulation, Colorado recently proposed changes to its state...more

The State AG Report Weekly Update April 2017

by Cozen O'Connor on

Consumer Protection - Colorado Attorney General Obtains Judgment Against Debt Collection Company - Colorado AG Cynthia Coffman obtained a judgment against debt collection company Peak Resolution LLC, its owner, and...more

Alert: New York Wants Its Cybersecurity Regulation to Reach Nationwide

by Cooley LLP on

On April 9, 2017, Maria Vullo, the New York Department of Financial Services (NYDFS) superintendent, pronounced to state insurance commissioners that New York's new cybersecurity regulation could be the model for other...more

New York Cyber Regulations Likely to Result in Increased Claims

by Wilson Elser on

The New York State Department of Financial Services (NYDFS) recently promulgated cyber regulations for financial institutions that are likely to increase the risks to directors & officers (D&Os), resulting in an increase in...more

State of Colorado Proposes Financial Services Cybersecurity Requirements

Following in the footsteps of the State of New York, the Colorado Department of Regulatory Agencies has proposed amendments to the Colorado Securities Act to require investment advisers and broker-dealers to implement new...more

New York’s Cyber Regulation: A National Blueprint?

New York’s top banking regulator would like the state’s new sweeping – and highly detailed – cybersecurity regulation to serve as a national model for insurance companies in safeguarding their institutions from cybercrime....more

IBM Issues 2017 X-Force Threat Intelligence Index Findings

Last week, IBM published its X-Force Threat Intelligence Index (Index), which summarizes the state of leaked records and vulnerabilities to data in 2016. It is depressing, but informative....more

New York Sets Its Sights on Cybersecurity Weaknesses at Financial Institutions

The New York State Department of Financial Services’ (NYDFS) cybersecurity regulations went into effect March 1, 2017, and the first of the staggered implementation deadlines is quickly approaching on August 28, 2017. Touted...more

Cyber security practitioner

by Dentons on

Earlier this year, the chairman of the UK's National Cyber Management Centre warned that "a major bank will fail as a result of a cyber attack in 2017". Scarily, this does not seem so far-fetched. Indeed, it is predicted that...more

Colorado Proposes Cybersecurity Requirements for Investment Advisers and Broker-Dealers

by BakerHostetler on

On March 27, 2017, the Colorado Department of Regulatory Agencies proposed changes to the Colorado Securities Act that would impose new cybersecurity requirements on investment advisers and broker-dealers (the “Proposed...more

NAIC Model Cyber Law: Yet Another Regulatory Measure

The National Association of Insurance Commissioner’s (NAIC) model cybersecurity law will take center stage later this week at the group’s annual meeting in Denver. In its third draft, the Insurance Data Security Model...more

Recent settlements highlight plaintiff pitfalls in data breach cases

by Thompson Coburn LLP on

In a recent post, we discussed how plaintiff class members who have not suffered financial harm as a result of a data breach face challenges meeting the Article III standing requirement necessary to invoke a federal court’s...more

FAFSA Data Retrieval Tool Remains Down Over Security Concerns

Last week, the Internal Revenue Service (IRS) and Federal Student Aid (FSA) announced that the Data Retrieval Tool (DRT) on fafsa.gov and StudentLoans.gov will be unavailable until extra security protections could be added....more

DFS Chief to Address State Insurance Commissioners on NYS Cyber Regulation

New York State Department of Financial Services Superintendent Maria T. Vullo is scheduled to discuss the state’s new “first in the nation” cybersecurity regulation later this week at the National Association of Insurance...more

In Case You Missed It: Launch Links - March, 2017 #3

by WilmerHale on

Some interesting links we found across the web this week: IPOs Are Cool Again in Startup-Land - IPOs have been a rarity in the startup world in recent years, but signs point to a reversal if this column from...more

Will More States Follow New York’s Lead?

by Jackson Lewis P.C. on

As you know if you regularly read this blog, the New York State DFS finally finalized its “first-in-the-nation” cybersecurity rules with an effective date of March 1, 2017. And their reach is quite large: DFS-supervised...more

Arby’s Whacked with More Data Breach Class Action Lawsuits

As we previously reported, Arby’s was hit with malware that infected over 1,000 of its fast food locations throughout the U.S. between October 25, 2016, and January 19, 2017, and was hit with multiple class action suits over...more

Rosen Hotels Fined After Data Breach and Facing Federal Lawsuit

This week Rosen Millennium Technology Group, the sister company to Rosen Hotels & Resorts, was sued by its insurance company, St. Paul Fire & Marine, which is denying coverage for a data breach that was discovered in 2016. ...more

What DFS Cybersecurity Regulation Portends for the Compliance Practitioner

by Thomas Fox on

The state of New York’s Department of Financial Services (DFS) issued the first state-level regulations on cybersecurity for financial institutions with its Cybersecurity Requirements for Financial Services Companies release,...more

What to Expect from New York’s New Cybersecurity Regulations

The New York State Department of Financial Services’ (NYDFS) cybersecurity regulations went into effect March 1, 2017. Touted by the NYDFS as the “first in the nation” comprehensive cybersecurity regulation, the new rules...more

Your Cyber Minute: What to keep in mind as a litigator  [Video]

by Hogan Lovells on

Partners Harriet Pearson and Michelle Kisloff talk about the real-time challenges of data breaches in the context of litigation and investigations. Hear the three major things you need to do and how to avoid the common...more

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Cybersecurity

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