Securities Finance & Banking Privacy

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The SEC Cybersecurity Roundtable: Indicator of Things to Come?

Starting with the Securities and Exchange Commission's January 2014 announcement that cybersecurity is a priority in its National Examination Program, SEC Chair Mary Jo White and others at the SEC have continued to stress the...more

SEC Holds Cybersecurity Roundtable

On Wednesday, March 26, 2014, the Securities and Exchange Commission conducted a roundtable discussion on cybersecurity and the issues and challenges cyber-threats present for public companies, exchanges, and market...more

CFTC Outlines GLB Act Privacy Best Practices

Recently, the CFTC’s Division of Swaps Oversight issued Staff Advisory No. 14-21, which recommends best practices for CFTC-regulated intermediaries to comply with applicable Gramm-Leach-Bliley (GLB) Act privacy requirements,...more

CFTC Staff Issues Best Practices for Customer Information Safeguards

The CFTC’s Division of Swap Dealer and Intermediary Oversight issued a Staff Advisory outlining recommended best practices for covered financial institutions to comply with Title V of the Gramm-Leach-Bliley Act of 1999...more

SEC Reopens Comments Period for Reg AB II

Almost a month ago, the SEC surprised many people by including a vote on the final Reg AB II rules on its February 5 meeting agenda. In a highly unusual move, the SEC then removed the vote from the meeting agenda on February...more

CFTC Issues Advisory on Compliance with Gramm-Leach-Bliley Act Security Safeguards

On February 26, the Division of Swap Dealer and Intermediary Oversight (DSIO) of the Commodity Futures Trading Commission issued Advisory 14-21 to provide futures commission merchants, commodity trading advisors, commodity...more

Privacy & Cybersecurity Update - February 2014

In This Issue: - NIST Releases Final Framework Document ..Key Changes From The Preliminary Framework ..The Framework Roadmap ..The DHS “C-Cubed” Program ..Next Steps - California Suggests Upper...more

FINRA Conducting Cyber-Security Sweep Exam

Reacting in part to recent data-breaches and cyber-attacks on larger retailers, the Financial Industry Regulatory Authority (“FINRA”) is conducting a targeted examination of some 20 broker-dealer member firms’ compliance and...more

FINRA Announces a Sweep to Assess BDs’ Cybersecurity

After announcing that cybersecurity will be one of its 2014 examination priorities, FINRA wasted no time before commencing a sweep. FINRA announced a Targeted Examination Letter to conduct an assessment of firms’ approaches...more

SEC Examiners to Take a Close Look at Firms’ Cyber Security

A high-level SEC official told an industry group yesterday that the National Examination Program (NEP) will be reviewing asset managers’ policies and procedures for preventing cyber attacks. In particular, the SEC is looking...more

Are You Another Target for Hackers? 2014 Cybersecurity Risk Disclosure Reminder

As calendar-year public companies approach annual reporting season, issuers should consider whether or not their current risk factor disclosures, as well as their “forward looking statements” language, are adequate in light...more

Broker-Dealer Cybersecurity: Protect Yourself or Pay the Price

In its recently issued 2014 Regulatory and Examination Priorities Letter, FINRA stated that cybersecurity remains a priority given the ongoing cybersecurity issues reported across the financial services industry, including...more

Financial Institutions Privacy and Security – 2013 Year in Review

Throughout 2013, financial institutions continued to face serious threats from cybercriminals targeting the personal information of banking customers and their financial assets through the use of malicious software and denial...more

Business News Digest – November 2013

In this issue: - Banking Committee Focuses on Private-Label Mortgage-Backed Securities Market - SEC Requests Public Comment on OFR Study of Risks in the Asset Management Industry - Broken Windows and...more

SEC Continues to Target Cybersecurity Disclosures

Over the past two years, the U.S. Securities and Exchange Commission’s Division of Corporation Finance (Corp Fin) has highlighted the importance of cybersecurity disclosures in filings with the SEC. Corp Fin’s initiative...more

Reminder -- Compliance Date for Identity Theft Red Flags Rules is November 20, 2013

As a reminder, the Identity Theft Red Flags Rules jointly adopted by the SEC and CFTC, which took effect on May 20, 2013, have an upcoming compliance date of November 20, 2013. Under these rules, certain SEC and...more

Business News Digest – October 2013

In this issue: - NIST Holds Fourth Workshop on Cybersecurity Framework - NIST Releases Draft Preliminary Cybersecurity Framework in Advance of Dallas Workshop - SEC Issues Risk Alert on Short...more

Emerging Growth and Venture Capital News - Fall 2013

NEW SEC GENERAL SOLICITATION AND “BAD ACTOR” RULES RE PRIVATE STOCK SALES NOW IN EFFECT - New Securities and Exchange Commission rules concerning private stock sales are now in effect. Under these rules, for...more

CFPB joins other federal regulators in announcing GLBA privacy exemption

On September 24, 2013, the CFPB joined the CFTC, the SEC, the FTC, the NCUA, and the prudential bank regulatory agencies (the Federal Reserve, the OCC, and the FDIC) in the issuance of an Interagency Guidance on Privacy Laws...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - August 2, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY -...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - July 26, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - E-COMMERCE - PRIVACY/DATA SECURITY - Excerpt...more

Survey Says: Fortune 500 Disclosing Cyber Risks

Ever since our 2013 prediction, an ever increasing number of public companies are adding disclosure related to cybersecurity and data breach risks to their public filings. We previously analyzed how the nation’s largest...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - July 19, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY -...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - June 28, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - PRIVACY/DATA SECURITY - CRIMINAL ENFORCEMENT -...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - June 21, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - Excerpt from Federal...more

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