News & Analysis as of September 25, 2024

Cybersecurity › Red Flags Rule

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

CFPB Report: ID Theft Among Servicemembers Increasing

Sheppard Mullin Richter & Hampton LLP on 1/27/2023

On January 12, the CFPB released a report that identified an uptick in identity theft reported by servicemembers. The report found that military consumers (defined as active duty servicemembers, veterans, and military family...more

Financial Crimes Makes Debut in FINRA Annual Priorities Preview

Sheppard Mullin Richter & Hampton LLP on 1/18/2023

FINRA punctuated its annual post-New Year’s Report on FINRA’s Examination and Risk Monitoring Program (the “Report”), by including a new target category “Financial Crimes.” The inclusion of this category is noteworthy not...more

Court of Chancery Dismisses Caremark Claims Because of Reporting Systems

Skadden, Arps, Slate, Meagher & Flom LLP on 12/27/2022

Delaware courts have historically been reluctant to allow Caremark (or “board oversight”) claims to gain traction, describing such a claim as “possibly the most difficult theory in corporation law upon which a plaintiff might...more

The SEC Brings Its First Enforcement Action under the Identity Theft Red Flags Rule

K&L Gates LLP on 11/2/2018

On September 26, 2018, the Securities and Exchange Commission (SEC) settled claims that Voya Financial Advisors, Inc. (VFA) failed to adequately protect customer information following a six-day cyberattack in 2016....more

Avoiding an SEC Whack after a Cyber Hack

Bass, Berry & Sims PLC on 10/8/2018

Adding insult to injury, the Securities and Exchange Commission (SEC) fined Voya Financial Advisors Inc. (VFA) $1 million and ordered a comprehensive two-year review by a compliance consultant, following a cyber-attack on...more

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

Mintz - Privacy & Cybersecurity Viewpoints on 5/6/2014

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

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