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 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.

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News & Analysis as of May 21, 2013

Cybersecurity Experts Urge Diligence at Portland Conference

by Bernstein Shur on 5/20/2013

From a Maine nonprofit group's leak of confidential data in February, to the May 9 discovery that a worldwide gang of criminals stole $45 million by hacking into a database of prepaid debit cards, information security...more

House Cybersecurity Information-Sharing Bill Provides Immunity Provisions for Reporting Companies

by Nerissa McGinn | Loeb & Loeb LLP on 5/17/2013

The U.S. House of Representatives passed an amended version of the Cyber Intelligence Sharing and Protection Act (CISPA), with a 288-127 vote. The current version of CISPA (H.R. 624) would provide private-sector companies...more

Big Incentives for Investments in Cybersecurity

by Javier Siervo | Berkeley Research Group, LLC on 5/17/2013

Recently, Maryland Governor Martin O’Malley signed into law the Cybersecurity Investment Incentive Tax Credit. The credit is to be used against the state income tax of a Maryland cybersecurity company. To be eligible for the...more

Cyber Risk Insurance May Cost More Than You Think

by Thomas Caswell, III | Zelle Hofmann Voelbel & Mason LLP on 5/9/2013

Since 2003, all but four states have enacted laws concerning data breaches and the protection of consumers’ personal information. This regulation of electronic data containing personal information and the protection of such...more

REGULATORY: FERC: Notice of Proposed Rulemaking on Bulk Electric System Cyber Security Standards

by King & Spalding on 5/8/2013

On April 18, 2013, the Federal Energy Regulatory Commission (“FERC”) issued a notice of proposed rulemaking (the “NOPR”) stating that it intends to approve Version 5 of the Critical Infrastructure Protection (“CIP”)...more

Insurance Coverage for Cyber Attacks

by Roberta Anderson | K&L Gates LLP on 5/8/2013

There’s no denying that the present-day Internet, while extraordinary, is increasingly scary. Cyber attacks of various types continue to escalate across the globe. As stated by one recent commentator: “Cybercrime is raging...more

Getting It In Writing - The Art of Policy Management

by NAVEX Global on 5/8/2013

Inside this e-Book: - Company Descriptions - Policy Management: From Dilbert to Reality - The Art of Managing Policy Exception Requests - From NAVEX Global: Business Case: The ROI of Policy Management -...more

That’s the Way the Consensus Crumbles: CISPA Splits Natural Allies in High-Tech

by Daniel Corbett, Michael Weil | Orrick - Trade Secrets Group on 5/7/2013

If there’s one thing Americans of all political stripes seem to agree on, it’s the need to thwart cyber-attacks on critical U.S. systems. Just this week, the Pentagon for the first time openly blamed China for hacking U.S....more

NIST Revamps Core Computer Security Guide

by BuckleySandler LLP on 5/7/2013

On April 30, the National Institute of Standards and Technology (NIST) published a substantially revised version of its Special Publication 800-53, “Security and Privacy Controls for Federal Information Systems and...more

Energy Newsletter - May 2013

by King & Spalding on 5/3/2013

In This Issue: - DISPUTE RESOLUTION: - Oil & Gas Litigation: New Decision May Impede Fracking on Federal Land - Intellectual Property: Non-Practicing Entities (Patent Trolls) Target Oil and Gas...more

Small and Mid-Size Companies: Beware of Increased Cybersecurity Threats of Sensitive Tax Information

by Helen Christakos, Brendan Lund | Carr, McClellan, Ingersoll, Thompson & Horn -... on 5/3/2013

Small and mid-size companies electronically transmit an increased amount of sensitive financial information via the Internet to comply with tax compliance obligations....more

The Real Lesson of Chinese Cyberhacking

by Michael Spillner | Orrick - Trade Secrets Group on 5/1/2013

There’s been a lot of news lately about the Chinese military allegedly launching cyber attacks to steal U.S. trade secrets. This has gotten people riled up, including the President of the United States, who issued a 5-point...more

AP Hack Demonstrates the Power of 140 Characters #Twitter

by Donna Ray Berkelhammer | Sands Anderson PC on 4/30/2013

Many small and medium business owners are overwhelmed by the social media choices available to them, and unsure of which might best fit their target clients and markets. Twitter, being a relative new kid on the block, can be...more

Banking & Financial Services E-Note - April 25, 2013

by John Chiles, Benjamin Coulter, Bryan Glover, John Michael Kearns, Mignon Lunsford, Zachary Miller, Jordan Teague | Burr & Forman on 4/26/2013

In This Issue: - Regulators Could Step in with Tougher Rules as Bank Profits Rise - Bill Would Force Study of Basel III Impact on Bank Capital Costs - Regulator Wants Enforcement Powers Against Bank...more

The Legal Issues of Cloud-based Computing Services

by Lisa K. Abe-Oldenburg | Bennett Jones LLP on 4/25/2013

Business leaders are under tremendous pressure to maximize the value of their company's IT and data. Staying on top of the ever-changing technology and tools available today can be daunting and give rise to complex legal...more

Capital Thinking Update - April 15, 2013

by Amy Davenport, Tanya DeRivi, Alexis Early, Jared Fleisher, Mara Giorgio, Karen Kudelko, Erin McGrain, Jessica Monahan, Amy Budner Smith, Stacy Swanson, Joseph Urso, Sarah Vilms, more +Dana Weeks, Pam Welsh | Patton Boggs LLP on 4/24/2013

In This Issue: - General Legislative - Agriculture & Food - Budget, Appropriations and Sequestration - Cybersecurity - Defense - Education - Energy - Environment - Financial Services -...more

Out With the Old, in With the New – CIP Version 5 on the Horizon

by Daniel Frank, Alison Graab, Meghan R. Gruebner, Jennifer Herbert, Alexandra Konieczny, Mark Thibodeaux | Sutherland Asbill & Brennan LLP on 4/23/2013

Electric utilities and other generation and transmission companies will be subject to new cybersecurity standards under a proposed rule issued by the Federal Energy Regulatory Commission (FERC). FERC proposed to approve the...more

How website security can harm your firm’s marketing efforts

by SEO | Law Firm on 4/22/2013

On the weekend of April 13, 2013, widespread reports of a WordPress attack spread throughout the internet. The story got traction on mainstream publications like Forbes, Information Week, and NBC News, putting some website...more

SEC and CFTC Issue Identity Theft Rules

by Ana-Maria Ignat, Daniel A. Nathan | Morrison & Foerster LLP on 4/22/2013

Today, April 19, 2013, the Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) published in the Federal Register rules and guidelines requiring their respective regulated financial...more

Missouri Court Rules Against $440,000 Cyberheist Victim

by Bernstein Shur on 4/22/2013

A Missouri court last week handed a legal defeat to a local escrow firm that sued its financial institution to recover $440,000 stolen in a 2009 cyberheist. The court ruled that the company assumed greater responsibility for...more

Virginia Financial Institutions - April 2013

by Joseph Spruill | Reed Smith on 4/19/2013

In This Issue: - Virginia General Assembly Concludes 2013 Session – Highlights and Considerations for Financial Institutions - Cyber Fraud: Lawsuit by Local Community Bank Demonstrates Need for Vigilance...more

Information Security Implications for Business Agreements

by Robert Parr, Armand Zottola | Venable LLP on 4/18/2013

On February 12, 2013, President Obama signed an Executive Order (“Order”) that outlined a voluntary cybersecurity framework (“Framework”) designed to help protect the nation’s critical infrastructure, which is generally...more

Business News Digest – April 2013

by Michael Baader, Jamie Barnett, Andrew Bigart, Amanda C. Blunt, Edward Boyle, Gregory Braker, Robert Burton, Emilio W. Cividanes, John F. Cooney, Krista Coons, Ashley Craig, Daniel Danello, more +Robert P. Davis, Paul Debolt, Douglas Emhoff, Lisa Jose Fales, Matthew R. Farley, Kathryn Floyd, Thomas Gilbertsen, Nancy Grunberg, Michael Hartmere, J. Scott Hommer, Stuart P. Ingis, Jay Johnson, Jonathan King, Mitchell Kolkin, George Kostolampros, Dismas Locaria, Elizabeth Lowe, Melissa McLaughlin, Lindsay B. Meyer, Parker B. Morrill, Jonathan L. Pompan, Hillary Profita, Matthew R. Rabinowitz, Megan Roberts-Satinsky, Anthony Rosso, Martin Saad, Sejal Shah, Raymond Shepherd, Eric R. Smith, Robert Smith, Margaret Strand, Joeann Walker, Ariel S. Wolf, Jason Wool, Brian Zimmet | Venable LLP on 4/15/2013

In this issue: - Finders May Pose Risk in Private Capital Raising - NIST Holds First Workshop on Executive Order Cybersecurity Framework - NIST Issues Request for Information, Begins Developing...more

President Obama’s FY 2014 Budget Proposal - Analysis Related To Administration Funding And Policy Priorities

by Patton Boggs LLP on 4/15/2013

INTRODUCTION - On April 10th, President Obama submitted his FY 2014 Budget Proposal to Congress. In the normal course of events, the President would have unveiled his spending plan in early February as required by law....more

D.C. Developments on the Cybersecurity Front – UPDATE

by Cynthia Larose, Heidi A. Lawson | Mintz Levin - Privacy & Security on 4/12/2013

UPDATE: The House Permanent Select Committee on Intelligence passed the Cyber Intelligence Sharing and Protection Act (CISPA) this afternoon. The vote was 18 in favor and two (Adam Schiff (D-CA) and Jan Schakowsky (D-IL))...more

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