Cybersecurity Hackers

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

U.S., China Announce Cybersecurity Agreement During Xi Jiping’s Visit

Chinese President Xi Jinping made his first state visit to the United States last week, and his itinerary included meetings with U.S. technology company leaders as well as President Barack Obama. Not surprisingly, his hosts...more

Cybersecurity + Law Enforcement: The Cutting Edge Symposium | Friday, OctobeWU Law | Bristol,r 16, 2015 R Rhode Island

Cybersecurity, encryption, and government surveillance are daily challenges for public officials, corporations, and lawyers. On October 16, the Roger Williams University School of Law will present Cybersecurity and Law...more

A Compilation of Enforcement and Non-Enforcement Actions

Non-Enforcement Cybersecurity Is At the Top of SEC Examination Concerns In a recent SEC “risk alert” for registered broker-dealers and investment advisers, the SEC’s Office of Compliance Inspections and Examinations (OCIE)...more

What is reasonable? The emerging legalities of cybersecurity post-Wyndham

This month’s edition of the Advanced Cyber Security Center’s newletter includes my discussion of lessons to be learned from the Wyndham decision: Historically, security was an issue reserved in a back room for the IT...more

Latest NAIC Cybersecurity News

The National Association of Insurance Commissioners has announced three initiatives in furtherance of its goal to address cybersecurity issues faced by insurance companies, their state regulators, and consumers, which it...more

Notifying Parties In Username/Password Breaches . . . It’s Not Just the Law

As we head into the end of 2015, state legislators across the country continue to strengthen, update and, in some instances, broaden the scope of their respective state data breach notification laws. Specifically, many...more

FTC Fines Can Add Salt to a Cybersecurity Wound

Cyberattacks are on the rise—so much that we seem to hear about a high-profile hack more often than it probably rains in most parts of California. Although reputational damage from a cyberattack can be scarring, a recent U.S....more

US-China Cyber Deal Big on Promises, Short on Action

In the aftermath of recent cyberattacks attributed to China’s government and citizens, many observers prepared for a rather uncomfortable state visit by Chinese President Xi Jinping last week. Then, as President Xi began his...more

The Legal Lessons of Data Breaches

Every business would love to find a fortune teller to give it insight into what trends to follow, which risks to take, and when “exposure” will convert to liability. Some clients might say that, unfortunately, their lawyers...more

SEC Penalizes Investment Adviser over Inadequate Cyber-Risk Program Prior to Data Breach

On September 22, the SEC ordered a Missouri-based investment adviser to pay a $75,000 penalty, settling allegations that the investment adviser failed to implement required written cybersecurity policies and procedures prior...more

SEC’s Increased Cybersecurity Enforcement and How to Reduce Your Risks

The SEC announced last week that an investment adviser had agreed to settle charges that it failed to take required steps to protect against and respond effectively to a cybersecurity breach. The action comes on the heels of...more

Who is Stealing Your Trade Secrets? An Overview of Key Threats

Every company has trade secrets – for some, they may be special manufacturing processes, for other organizations, trade secrets could include product formulae, customer lists, software code or marketing strategies. The more...more

Data Breach Class Claims Survive Clapper

On appeal to the Seventh Circuit, a three-judge panel opinion written by Chief Judge Woods reversed the lower court. Remijas v. Neiman Marcus Group, LLC, No. 14-3122, 2015 WL 4394814, at *3 (7th Cir. July 20, 2015). The panel...more

China-U.S. Agreement on Cyber-Theft for Commercial Gain

Chinese President Xi Jinping’s visit to Washington D.C. led to a very significant agreement on cybersecurity, as reflected by The White House fact sheet released Friday (excerpted below). The agreement addresses a core U.S....more

The SEC OCIE Announces Increased Scrutiny of Broker-Dealers’ and Investment Advisers’ Cybersecurity Programs

On September 15, 2015, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a National Exam Program Risk Alert (2015 Risk Alert) to provide broker-dealers and investment...more

Investment Adviser Settles SEC Charges After Data Breach

Last week, the Securities and Exchange Commission (SEC) settled charges against a registered investment adviser for failing to comply with Rule 30(a) of Regulation S-P (17 C.F.R. § 248.30(a)) (“Safeguards Rule”). The...more

U.S. Attorney General Discusses DOJ’s Global Cybercrime Initiatives at Europol

On September 16, U.S. Attorney General Loretta Lynch addressed the European Cybercrime Center at Europol, where she highlighted recent and planned DOJ initiatives related to global cybercrime and cyber threat efforts and...more

The SEC Charges Investment Adviser with Violating Regulation S-P by Failing to Adopt Cybersecurity Policies and Procedures

In recent years, the SEC has been focused on cybersecurity. It has issued risk alerts, conducted examinations and provided guidance about what the agency sees as widespread weaknesses in many policies and procedures to...more

SEC Charges Investment Adviser With Failure to Adopt Proper Cybersecurity Policies and Procedures

A registered investment adviser agreed to settle SEC charges that it failed to adopt adequate cybersecurity policies and procedures reasonably designed to protect customer records and information as required by Rule 30(a) of...more

Evolving Litigation of Data Breach Claims

An Illinois circuit court judge has dismissed five of six claims in a consolidated class action against Advocate Health and Hospital Corporation arising from a data breach in July 2013. The judge’s dismissal with prejudice...more

SEC Shows It’s Serious About Cyber Security

A week after OCIE announced it would conduct a second round of cyber-security exams, the Commission emphasized the issue by bringing an enforcement action against a non-custodial investment-adviser over a remediated data...more

Class In Session: Minnesota Federal Court Certifies Class In Target Corporation Data Breach Suit

On September 15, 2015, a federal district court in Minnesota granted a motion for class certification of hundreds of credit unions and banks in an action against Target Corporation for damages stemming from the breach of...more

Senate Legislation Seeks To Protect Taxpayer Data In Response To IRS Data Breach

On September 11, 2015, Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR) introduced a bill aimed at combating identity theft and tax rebate fraud. The legislation comes as the Internal...more

Through the Wire: SEC Turns its Sights on Insider Trading, Hacking and Data Thievery

There once existed a time when a crew of skydiving surfers could throw on surprisingly well crafted ex-president masks, stroll into a cash-heavy bank and rob the institution blind. There was a time when the weapon of choice...more

SEC Releases First Cybersecurity Enforcement Action for Failure to Protect Client Data

The SEC’s focus in the action was not on the manner of the firm’s responses to the breach or whether there was any actual harm, but predominantly on the adequacy of the firm’s written policies for safeguarding customer...more

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