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Court Certifies Interlocutory Appeal for the FTC v. Wyndham Matter

This blog previously discussed various aspects of the Federal Trade Commission (“FTC”) action filed against Wyndham Worldwide Corp. (“Wyndham”) under Section 5 of the FTC Act, which prohibits “unfair and deceptive acts or...more

Managing Risk in an Inhospitable Environment: The Restaurant and Hospitality Industries are an Alluring Destination for Cyber...

The recent onslaught of cybersecurity incidents and payment card thefts dominate daily headlines and have captured the nation’s attention—from the diner whose credit card was compromised during a data breach to the President...more

Cyber Risks for the Boardroom Part 4: Coverage for Investigations

Part 4 in our continuing series: “Cyber Risks – Director Liability and Potential Gaps in D&O Coverage”: Coverage For Investigations - One of the biggest gaps in coverage in D&O coverage today is the lack of...more

Cyber Risks And The Impact On Company Directors

A series of high profile data breach incidents have brought into spotlight the increasing regularity and number of incidents, the significant costs associated with such incidents and the potential exposure of Boards of...more

SEC Cybersecurity Initiative: Five Steps ALL Broker-Dealers and Investment Advisers Should be Taking

Last week, the U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert announcing its Cybersecurity Initiative....more

Banking & Financial Services E-Note

In This Issue: - Appeals Court Says Dodd-Frank Clause Violates 1st Amendment - Basel Committee Eases Derivatives Rule for Banks - CFPB Revises International Money Transfer Rule - AG Seeks More Enforcement...more

A CTO’s Views On How To Combat Hackers & Cybercriminals

In this article, I delve into the views and opinions of a chief technology officer of a telecommunications company to understand important steps a company can take to combat hackers and cyber-criminals....more

Specific Steps Broker-Dealers and Investment Advisers Should Take in Response to the SEC’s Cybersecurity Initiative

On April 15, 2014 the U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert announcing its Cybersecurity Initiative....more

SEC Issues Cybersecurity Risk Alert

On April 15th, the SEC's Office of Compliance Inspections and Examinations ("OCIE") issued a Risk Alert concerning its initiative to assess the cybersecurity preparedness of the securities industry. The Risk Alert states that...more

SEC Cybersecurity Roundtable Addresses Broker-Dealer and Investment Adviser Risks

On March 26, 2014, the Securities and Exchange Commission (SEC) hosted a roundtable to discuss cybersecurity issues facing public companies, broker-dealers, investment advisers and other market participants. The roundtable...more

A Brief Survey of Current and Future Developments in Privacy, Data Protection and Cyber Security Law

The challenges confronting corporate counsel regarding privacy, data protection and cyber security have never been more daunting: dealing with the threat of increasingly sophisticated cybercriminals, responding to data breach...more

Cyberliability Developments in the Offshore Jursidictions

The offshore jurisdictions are catching up fast with legal issues relating to cybercrime, cyberliability, and the use and discovery of electronic documents. In the wake of the embarrassing leak in April 2013 of about...more

Cyber Insurance: A Last Line of Defense When Technology Fails

As cyber risks increase, specialized insurance policies can protect companies, but only if those policies are appropriately tailored and negotiated. Daily news headlines reveal the escalating, and costly, problem of...more

Agencies Issue Denial of Service Guidance and Guidance on ATMs

On April 3, the members of the Federal Financial Institutions Examination Council (FFIEC), including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union...more

SEC Roundtable Discusses Cybersecurity Threats and Protections Against Cyberattacks

On March 26, the Securities and Exchange Commission hosted a roundtable discussion on various cybersecurity topics. Participants at the roundtable included representatives from the federal government, self-regulatory...more

Law Firms Are Prime Information-Security Targets

Law firms do not hold special immunity from the threat of cybercriminals. In fact, law firms should be extra vigilant, considering the breadth of sensitive client information they often possess regarding corporate...more

You're Not Immune: Hackers Target Health Care Providers Of All Shapes & Sizes

For health care providers, exposure to cyberattacks is becoming a stark reality. Findings in a recently released Health Care Cyberthreat Report by cybersecurity leaders confirmed the health care industry's vulnerabilities for...more

Corporate and Financial Weekly Digest - Volume IX, Issue 13

In this issue: - SEC Roundtable Discusses Cybersecurity Threats and Protections Against Cyberattacks - Proposed Changes to FINRA Classification of Hybrid Securities for Trade Reporting Purposes - FINRA...more

Windows XP Use May Violate HIPAA Starting April 8, 2014

If you use Windows XP on April 8, you will be easily susceptible to cyber-attacks and violations of the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”)....more

Cybercrime Loses Its Right to Silence

In 2012, the director gen¬eral of MI5 revealed that a London-listed company had lost £800 million as a result of a state-backed cyber at¬tack. The company in question has not been publicly identified and no disclosures were...more

Have You Asked All The Right Questions?

In a recent alert, we outlined potential risks businesses face in the wake of cyber security threats as a result of inadequate data protection. 2013 had the highest number of recorded data breaches in over a decade....more

California Attorney General Urges Companies to Be Prepared for Cyber Attacks and Security Breaches

Kamala Harris, California's Attorney General, issued a set of recommendations for preventing and responding to cyber attacks and security breaches. The recommendations, called Cybersecurity in the Golden State, are directed...more

PlayStation Problems: No Defense in Sony’s Cyberattack Suits

On February 21, 2014, a New York state trial court judge ruled that Zurich American Insurance Company has no duty to defend the Sony Corporation in lawsuits relating to a 2011 cyberattack on its PlayStation network. This...more

New Report on PCI-DSS Compliance Finds Room for Improvement

Data breaches are increasingly common, with an estimated $11 billion in global credit-card fraud in 2012 alone. Yet according to a new report, many organizations still fail to take the necessary security measures to prevent...more

How to Secure Information Systems: The Growing Complexity of the Legal Landscape

While businesses take a more cautious approach to how they handle IT security threats, these are becoming increasingly complex and sophisticated. Denial-of-service attacks, software tampering (e.g. computer viruses and Trojan...more

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