News & Analysis as of

Confidential Information Banking Sector

Integreon

Streamlining NDA Negotiations for Middle Market Investment Banks: The Case for a Transformative, Tech-Enabled Solution

Integreon on

In the fast-paced world of middle market investment banking, efficiency is currency. Large investment banks representing sellers often enter into thousands of non-disclosure agreements (NDAs) every year. These agreements are...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Legal Options When Bank Employees Take Confidential Data from Bank Systems

Despite bank policies, training, computer warning banners, governing laws and banking regulations, bank employees still take bank or customer data as their employment ends. They take potential or current customer lists,...more

A&O Shearman

Enforcement risks for firms unauthorised communication applications

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With remote and hybrid working arrangements now the norm for many firms in the wake of the pandemic, risks of misconduct have become heightened by the increased use of unmonitored and/or encrypted communication applications...more

White & Case LLP

Regulation on Sharing of Secret Information is Published

White & Case LLP on

The "Regulation on Sharing of Secret Information" ("Regulation") prepared by the Banking Regulation and Supervision Agency (the "Agency" or "BRSA") is published in the Official Gazette dated June 4, 2021. In accordance...more

Goodwin

SEC Adopts Broad Exempt Offering Reforms

Goodwin on

In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more

Baker Donelson

Sitting with the C-Suite: Looking Ahead to Potential Compliance Issues Due to COVID-19

Baker Donelson on

Ian Campbell, the President and CEO of iCONECT, has a design background and, prior to founding iCONECT, he worked in advertising and founded his own agency. In 2012 iCONECT launched its flagship review product, Xera, which...more

King & Spalding

Energy Newsletter - April 2020

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Developing Contingency Plans: The NYDFS Mandate on Licensed Virtual Currency Businesses - The events surrounding COVID-19 have increased the use of fintech products, both out of necessity and convenience. Shelter-in-place...more

Mintz - Privacy & Cybersecurity Viewpoints

New York Dept of Financial Services (NYDFS) Extends Cybersecurity Compliance Deadline

The NYDFS has announced that it has extended the deadline for compliance with certain cybersecurity requirements due to the coronavirus emergency. The announcement from the Superintendent of Financial Services of the State...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Hiding somewhat in the shadows during the rise of virtual currencies over the past year or two has been blockchain, the ledger technology that undergirds bitcoin and other cryptos, and its potential application beyond digital...more

Robinson+Cole Data Privacy + Security Insider

New York Department of Financial Services Cybersecurity Regulation 18-month Compliance Deadline Arrives

On September 4, 2018, the third stage of compliance deadlines under the New York Department of Financial Services’ (DFS) expansive cybersecurity regulation went into effect....more

Vedder Price

Wells Fargo’s CAMELS Rating Leaked

Vedder Price on

The Wall Street Journal recently reported that the management component of the CAMELS rating for Wells Fargo Bank, NA had been downgraded to a “3” during 2017. A “3” rating of management means that the capabilities of...more

Manatt, Phelps & Phillips, LLP

Banks Settle Data Breach Suit for $5.2M

In the latest settlement agreement reached in a lawsuit brought by banks following a retailer’s data breach, an Illinois federal court judge signed off on a $5.2 million deal involving a major U.S. retailer....more

Ballard Spahr LLP

OIG Report Continues Criticism of CFPB Enforcement Data Security Practices

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On May 15, 2017, the Federal Reserve Office of Inspector General – which also oversees the CFPB – released a report finding deficiencies in the CFPB Office of Enforcement’s (Enforcement) processes for securing sensitive...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

A group of current and former Citizen Bank branch employees from five states has admitted to fabricating information about the results of the Bank’s much-touted “Citizens Checkup” program (in which real customers are invited...more

Snell & Wilmer

New Cybersecurity Requirements for New York Financial Companies

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The New York Department of Financial Services has new cybersecurity regulations “designed to promote the protection of customer information as well as the information technology systems of regulated entities [financial...more

Robinson+Cole Data Privacy + Security Insider

New York Financial Services Cybersecurity Regulations Go Into Effect on March 1st

We have previously reported about the upcoming New York Financial Services Cybersecurity Regulations. On February 16, 2017, Governor Andrew M. Cuomo announced that “the first-in the-nation cybersecurity regulation to protect...more

Hogan Lovells

The “Final Final” is Here: NYDFS Cybersecurity Regulations

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As Hogan Lovells previously reported, the New York State Department of Financial Services (NYDFS) has launched a significant initiative to impose detailed cybersecurity requirements on covered financial institutions. On...more

Carlton Fields

NY DFS Cybersecurity Regulations Take Effect March 1, 2017

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We previously reported on the New York Department of Financial Services’ proposed cybersecurity regulations. During the public comment period, the DFS received over 150 comments. In response, the DFS announced on December 28,...more

Troutman Pepper

For Our Eyes Only: Understanding the Attorney-Client Privilege and Its Application to Banks

Troutman Pepper on

The attorney-client privilege is a rule of evidence that prevents the adverse party in a lawsuit from obtaining access to certain communications. If properly understood and wellmanaged, this privilege offers a useful tool for...more

Carlton Fields

NY DFS Proposed Cybersecurity Regulations Revised and Implementation Delayed

Carlton Fields on

We previously reported on the New York Department of Financial Services’ proposed cybersecurity regulations. During the public comment period, the DFS received over 150 comments. In response, the DFS announced on December 28,...more

Bradley Arant Boult Cummings LLP

CFPB Proposed Rule Could Allow Agencies without Jurisdiction to Access CSI

The CFPB issued a proposed rule which significantly affects third-party access to information obtained by the Bureau. In addition to public requests under the Freedom of Information Act, the Privacy Act of 1974 and in legal...more

Poyner Spruill LLP

CFPB Proposal to Relax Standards for the Discretionary Disclosure of Confidential Supervisory Information

Poyner Spruill LLP on

In a proposed rule set forth in the August 24, 2016 Federal Register, the Consumer Financial Protection Bureau (Bureau) suggests “amendments relating to the disclosure of records and information.” While the proposal touches...more

Burr & Forman

TN Ethics Opinion Approves Lawyers’ Cloud Storage of Client Data

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Tennessee has joined other states in formally approving lawyers’ cloud-storage of client-confidential data. The Board of Professional Responsibility (“BOPR”) held that lawyers ethically may use cloud storage for...more

Dorsey & Whitney LLP

This Week In Securities Litigation (Week ending August 14, 2015)

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A second insider trading action was brought by the Commission against a senior banking official based on the same take-over for which he was previously charged — but a different securities trading account is at the center of...more

Ballard Spahr LLP

CFPB issues compliance bulletin on treatment of confidential supervisory information

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In a new compliance bulletin (2015-01), the CFPB reminds supervised financial institutions, including nonbanks, of their obligations regarding the disclosure of confidential supervisory information (CSI)....more

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