Cybersecurity

Cybersecurity is a term used to describe methods and systems for protecting sensitive information in the electronic sphere. As more financial, business, and personal information becomes exclusively maintained and... more +
Cybersecurity is a term used to describe methods and systems for protecting sensitive information in the electronic sphere. As more financial, business, and personal information becomes exclusively maintained and stored electronically, the risks of attacks, leaks, and disclosures become more pronouced. The concept of Cybersecurity encompasses a broad array of issues, including governmental regulations to ward off cyber terrorists, industry data collection and maintenance practices, and consumer advocacy to ensure the privacy of individuals' personal and medical information.     less -
News & Analysis as of

FFIEC: Financial Institutions Need to Share Cyberthreat Information

Why it matters: Financial institutions of all sizes need to share cyberthreat information with each other, the Federal Financial Institutions Examination Council (FFIEC) urged based upon an assessment performed of the...more

This Week In Securities Litigation

The Commission filed another settled FCPA action this week. The proceeding named two U.S. citizens living abroad as Respondents. The DOJ issued an Opinion discussing successor liability....more

NIST Draft Guide Advances the Debate on Cybersecurity Issues

Private sector entities looking to comment on the draft should focus on its recommendations surrounding sharing communities, standardized transfer mechanisms, and the handling of corporate legal considerations....more

Hackers Don’t Care About the Terms of Your Insurance Policy - The Importance of Retroactive Dates and Extended Reporting Periods...

A recent study reports that the median amount of time between an intrusion into a company’s computer network and the discovery of the incident is 229 days. The difficulty and length of time in detecting cyber infiltrations...more

New FDA Cybersecurity Guidance for Medical Device Manufacturers

Last month, the U.S. Food and Drug Administration issued its final guidance, “Content of Premarket Submissions for Management of Cybersecurity in Medical Devices.” Those guidelines make non-binding recommendations on the...more

Boards Should Put Time and Resources into Cybersecurity Issues – It Is Good for Business and Works as a Defense Strategy

We have previously blogged about Commissioner Aguilar’s recommendations at a NYSE conference, “Cyber Risks and the Boardroom” on what boards of directors should do to ensure that their companies are appropriately considering...more

Proposed FRCP Changes: Effect on eDiscovery, RIM & IG (CLE) [Video]

he Supreme Court is expected to approve a proposed set of revisions to the Federal Rules of Civil Procedure (FRCP), which would go into effect by December of 2015. Are you ready for those changes? In this program, Rimon...more

Cybersecurity Policy in the Lame Duck and Beyond

There are two categories of cybersecurity legislation awaiting Congressional consideration during the lame duck. First, there are a number of non-controversial, narrowly focused bills that are likely to be adopted as part of...more

Practice Makes Perfect

Amber Dolman and Robert Bishop came to Goodwin Procter in much the same way: Both started at the firm right out of law school, after having worked there as summer associates. While Bishop began in the REIT practice, he soon...more

Maximum Cybersecurity: FFIEC Releases Cybersecurity Assessment

On November 3, 2014, the Federal Financial Institutions Examination Council (“FFIEC”), an interagency body that prescribes principles and standards for the federal examination of financial institutions, released a set of...more

Baker Botts Year-End Perspectives: Bart Showalter

This is the second in a series of six Q&As with Baker Botts partners addressing the most significant developments in their practice areas this year, as well as their outlook for 2015. The Q&As will be posted throughout the...more

Cyber Security Top Priority in Today’s Tech-Savvy World

While 2014 Has Seen Miami Emerge as a Growing Technology Hub, the Year Has Also Highlighted Significant Risks that Technology Poses for Businesses of all Types....more

The Enemy Within: How To Better Protect Yourself From Technological Evils

Trekkies and modest Star Trek fans may recall the plot in an episode known as “The Enemy Within” where a malfunction in a transporter causes Captain Kirk to be split into two - a good Captain Kirk and an evil Captain Kirk....more

Internet of Things – Top 10 privacy and data protection concerns

As we discussed in our previous posts, there are a number of positive trends that make the Internet of Things a long lasting evolution. Hardware is improving, there is an increasing understanding from the industry of the...more

Five Cyber Security Takeaways from the Mid-Term Elections

While not a much-discussed topic during campaign season, federal policy on cyber-security will likely see some material changes as a result of a Republican-controlled Senate. Just how significant those changes will be has yet...more

Client Alert: Florida Information Protection Act of 2014 - One Of The Strictest Data Breach Statutes in the Nation

If your business stores personal information of Florida Residents, you must be aware of a new Florida statute that has created specific reporting requirements in the case of a data breach. Failure to comply can result in...more

FFIEC Recommends Financial Institutions Join Information Sharing Forum to Mitigate Cyber Risks

On November 3, the FFIEC released its observations from a cybersecurity assessment of more than 500 institutions, and recommended that all regulated financial institutions participate in the Financial Services Information...more

Phishing Attacks Target University Employee Payroll Information

In a recent advisory, the Research and Education Networking Information Sharing and Analysis Center (REN-ISAC) warned higher education institutions about sophisticated phishing attacks that target faculty and staff...more

Wyndham Decision Provides Guidance to Corporate Directors and Officers in Responding to a Data Breach

U.S. District Judge Stanley R. Chesler of the District of New Jersey recently provided much needed guidance to directors and officers on their duties and responsibilities with regard to cybersecurity. In Palkon v. Holmes, et...more

The big data security risks of little things

We've focused so much about Big Brother and Big Data that we may be missing the real data security threat — little things. A tremendous data flow is being generated from the so-called Internet of Things, the interconnected...more

Financial Services Weekly News Roundup - November 2014 #2

The SEC first proposed a study of the fiduciary obligations of brokers and investment advisers as required by the Dodd-Frank Act in July 2010. The SEC still has not made a decision about the shape of a fiduciary rule for...more

In Case You Missed It - Interesting Items for Corporate Counsel - November 2014

1.As the year moves to a close, expect lots of chatter about the upcoming 2015 proxy season. Including from us beginning right now. 2.Almost certainly because good corporate governance practices just change so darn...more

CFTC Chairman Provides Guidance on Cybersecurity

On November 5, 2014, the Chairman of the Commodity Futures Trading Commission, Timothy G. Massad, gave keynote remarks at the Futures Industry Association Expo 2014. Part of Chairman Massad’s remarks focused on the...more

Governments Eager to Help Market for Cyber Insurance Develop

Have you heard about cyber insurance? It is predicted to be the next big thing in insurance coverage. In the aftermath of the Home Depot and Target data breaches, it’s easy to see why companies doing business over the...more

Intro to Cybersecurity Framework: New Mandatory NIST Standards for Government Contractors?

Cybersecurity remains one of the most important and least understood issues of the day. Last week, the National Institute of Standards and Technology (NIST) hosted a workshop in Tampa, Florida, to receive private sector...more

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