News & Analysis as of September 24, 2024

Cybersecurity › Securities and Exchange Commission (SEC) › Cyber Insurance

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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 -

Running to Stand Still: Practical Cybersecurity Governance Considerations for Boards and Management Teams

Woodruff Sawyer on 8/22/2024

It’s obvious that strong cybersecurity governance should help to reduce a company’s risk of succumbing to a cybersecurity incident or being significantly impacted should one materialize. One major challenge: determining what...more

Cyber Update: SEC Issues New Guidance on Cybersecurity Incident Disclosure

Wiley Rein LLP on 6/27/2024

On June 24, 2024, the U.S. Securities and Exchange Commission (SEC) Division of Corporation Finance (Corp Fin) added to its Compliance and Disclosure Interpretations (C&DI) related to disclosure of Material Cybersecurity...more

Chief Information Security Officers and cyber whistleblowing: considerations for PE firms

A&O Shearman on 4/3/2024

Managing these risks at a single company should be straightforward. Executives and CISOs may be personally held accountable for cyber failings, negligence, breaches, and inadequate disclosure around cyber vulnerabilities and...more

Preparing for SEC’s New Cybersecurity Rules

Snell & Wilmer on 11/3/2023

On July 26, 2023, the U.S. Securities and Exchange Commission (“SEC”) adopted final rules relating to enhanced cybersecurity disclosures, which became effective on September 5, 2023 (the “Final Rules”). Beginning in December...more

Why are Company Ransomware Payments Dropping Dramatically?

Kohrman Jackson & Krantz LLP on 2/2/2023

Companies are increasingly choosing not to pay ransom for ransomware and extortionware due to the growing associated risks. In fact, a recent report by crypto-crime analyst firm Chainalysis found that payments to threat...more

Ransomware Case Signifies Shift In Cyber Insurers' Stance

Lowenstein Sandler LLP on 11/16/2021

Ransomware attacks are on the rise. Lax security measures, which have become more acute in the work-from-home environment, continue to be exploited. Companies' systems are hacked into, their data is encrypted, and they face...more

Florida Water System Hack Highlights Challenges for Public Utility Cybersecurity

Bracewell LLP on 2/24/2021

Earlier this month, fears usually confined to dystopian novels and Hollywood movies were realized in Oldsmar, Florida when an unknown hacker breached the city’s water treatment system by successfully accessing its control...more

Privacy & Cybersecurity Update - February 2020

Skadden, Arps, Slate, Meagher & Flom LLP on 3/3/2020

In this month's edition, we examine the California attorney general's proposed modified regulations under the CCPA, the Treasury Department's new CFIUS regulations, and the SEC Office of Compliance Inspections and...more

Blog: D&O Coverage for Cyber and Privacy Related Exposure

Cooley LLP on 11/20/2019

It goes without saying that cybersecurity is a top D&O liability concern for organizations today. According to Willis Towers Watson’s 2018 Management Liability (Directors and Officers) U.S. Survey, respondents cited cyber...more

Data Privacy + Cybersecurity Insider - August 2019 #4

Robinson & Cole LLP on 8/25/2019

We have definitely seen an uptick in the number of ransomware attacks against municipalities around the country. Thus far, the attacks have been against single cities, towns, and court systems, and recently against a...more

Privacy & Cybersecurity Update - April 2019

Skadden, Arps, Slate, Meagher & Flom LLP on 5/1/2019

In this month's Privacy & Cybersecurity Update, we examine several recent U.K.-related cybersecurity developments and the SEC's risk alert reminding investment advisers and broker-dealers to follow through on implementing...more

Breaching the D&O Firewall: The Rise of Cybersecurity Regulations for Businesses and the Future Effects on D&O Insurance

White and Williams LLP on 5/1/2018

For many D&O insurers, the risk of exposure posed by cybersecurity incidents involving their insureds has been unclear at best. Cybersecurity incidents, and the corresponding shareholder claims that follow, pose unique and...more

Privacy & Cybersecurity Update - May 2017

Skadden, Arps, Slate, Meagher & Flom LLP on 6/3/2017

In this edition of our Privacy and Cybersecurity Update, we take a look at the Trump administration's executive order outlining its cybersecurity plans, Acting FTC Chairwoman Maureen Ohlhausen's comments on the possible...more

"Cybersecurity Trends for Boards of Directors"

Skadden, Arps, Slate, Meagher & Flom LLP on 4/14/2017

Cybersecurity has in recent years become an integral component of a board’s role in risk oversight, but directors often find themselves in unfamiliar territory when it comes to formulating policies and oversight processes...more

Cybersecurity, Cyber Insurance: What Fund Directors Need to Know

Blank Rome LLP on 8/16/2016

Cyberattacks are attempts by hackers to damage, destroy and/or steal data from a computer network or system. From 2013 to 2015, more than 153.6 million people had information stolen in cyberattacks involving companies such as...more

SEC Cybersecurity Update

Proskauer on Privacy on 10/20/2015

Results from the SEC’s First Round of Cybersecurity Examinations - On February 3, 2015, the OCIE published a risk alert summarizing its findings from its examinations of over 100 registered investment advisers and...more

SEC Brings First Cybersecurity Enforcement Proceeding in Wake of Risk Alert

Foley & Lardner LLP on 10/8/2015

Highlights Areas of High Risk and Examination Priorities for Financial Industry Firms - On September 15, the U.S. Securities and Exchange Commission’s (SEC’s) Office of Compliance, Inspections and Examinations (OCIE),...more

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

Perkins Coie on 9/29/2015

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

OCIE’s 2015 Cybersecurity Examination Initiative

Foley Hoag LLP on 9/21/2015

Second Round of Cybersecurity Examinations to Begin - On September 15, 2015, the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) issued a Risk Alert announcing a...more

How to Protect Your Company’s Bottom Line Against Data Breach Losses Through Insurance

King & Spalding on 6/30/2015

In the wake of what seems to be daily announcements of new data security breaches and increased regulatory oversight over company information security and privacy practices, companies are looking for ways to minimize risks...more

Two Oft-Neglected Cybersecurity Protections

Parker Poe Adams & Bernstein LLP on 4/16/2015

With each passing year, cybercrime moves further into the mainstream of public company existence. What until recently was mostly an annoying, abstract concern for a handful of companies is now a daily menace that impacts...more

Investment Management Update - Focus on Data Privacy and Cybersecurity

Troutman Pepper on 11/10/2014

Pepper partners Gregory J. Nowak and Angelo A. Stio III discussed data privacy and cybersecurity issues for investment funds during a recent webinar for West LegalEdcenter. This podcast is a recording of their session. ...more

Cyber Risks For The Boardroom

Mintz on 8/13/2014

The Recent Increase In Focus on Privacy Issues - Privacy issues have been the focus of many state efforts over the past few years. However, the SEC has increased their focus tremendously over the past few months (see...more

Cyber Risks for the Boardroom Part 5: Coverage for Privacy Violations

Mintz - Privacy & Cybersecurity Viewpoints on 5/9/2014

The last installment in our series – “Coverage for Privacy Violations” - Part 5 of 5: Coverage For Privacy Violations: As we previously noted, recent SEC actions on the topic of cybersecurity indicates...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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