News & Analysis as of September 26, 2024

Gramm-Leach-Blilely Act

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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 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 -

Navigating Emerging Privacy Issues in Financial Services — The Consumer Finance Podcast

Troutman Pepper on 9/5/2024

In this episode of The Consumer Finance Podcast, Chris Willis is joined by privacy Partner Kim Phan and Rami Haddad, deputy general counsel at PRA Group. This episode delves into a range of emerging privacy issues impacting...more

SEC Amends Privacy Rule to Establish Data Breach Notification Standard

Orrick, Herrington & Sutcliffe LLP on 5/28/2024

The Securities and Exchange Commission (SEC) has amended its privacy rule – Regulation S-P – to establish a federal minimum standard for covered institutions to notify affected individuals of a data breach....more

SEC Adopts Amendments to Regulation S-P That Require Reporting Breaches of "Sensitive Customer Information"

Davis Wright Tremaine LLP on 5/28/2024

On May 15, the Securities and Exchange Commission adopted amendments to Regulation S-P, which covers broker-dealers, registered investment advisors (RIAs), and investment companies (funds). These entities are now required to...more

Year in Review: The Top 10 US Data Privacy Developments From 2023

WilmerHale on 1/8/2024

2023 marked a pivotal moment in US data privacy and cybersecurity, characterized by substantial regulatory and legislative advances at the international, federal, and state levels. The Federal Trade Commission (FTC) took a...more

Cyber(in)security: New York Levies Fine for Failure to Implement Written Policies

Vinson & Elkins LLP on 12/4/2023

On November 27, 2023, the New York State Department of Financial Services (“DFS”) and First American Title Insurance Company (“First American”) entered into a consent order1 that resolved litigation over First American’s...more

FTC Imposes New Data Breach Notification Requirements

Seward & Kissel LLP on 11/13/2023

On October 27, 2023, the Federal Trade Commission (the “FTC”) adopted a final rule (“Final Rule”) to amend the Standards for Safeguarding Customer Information (the “Safeguards Rule”). Among other things, the Final Rule will...more

Complying With the FTC's Amended Safeguards Rule

Bradley Arant Boult Cummings LLP on 6/7/2023

Cybersecurity is a looming threat for most businesses. The impact of a major cyber event can resonate for weeks, months, and even years after the initial attack. To mitigate the risks to consumers, there have been several...more

SEC Proposes Robust Amendments to Regulation S-P

Dechert LLP on 4/18/2023

At an open meeting on March 15, 2023, the U.S. Securities and Exchange Commission voted unanimously to propose rule amendments to Regulation S-P (Proposed Rule) and published an accompanying release (Release). The Proposed...more

SEC Proposes Three New Cybersecurity Rules To Enhance Consumer Protection And Market Security

Pietragallo Gordon Alfano Bosick & Raspanti,... on 4/12/2023

On March 15, 2023, the United States Securities and Exchange Commission (SEC) took a major step towards strengthening cybersecurity in the financial sector by proposing three new rules. These rules aim to improve privacy,...more

SEC Proposes Host of New Rules for Data Security, Cybersecurity, and IT Resilience

Davis Wright Tremaine LLP on 3/27/2023

The Securities and Exchange Commission (SEC or Commission) voted on March 15, 2023, to propose three new sets of rules for data security, cybersecurity, and IT operational resilience. The newly proposed rules would, among...more

Four Cybersecurity Law Issues for Financial Services to Track in 2023 | Insights

Venable LLP on 2/17/2023

The financial services sector must already contend with a maze of regulations in a variety of areas, and 2023 is poised to usher in new cybersecurity regulations for the industry. Organizations should ensure their security...more

December 9 Looms as Compliance Date for Private Investment Funds and Certain Investment Advisers to Comply With New Cybersecurity...

Katten Muchin Rosenman LLP on 12/6/2022

Additional Requirements to Go Into Effect June 9, 2023 - As we discussed in our March 3 Advisory, on October 27, 2021, the Federal Trade Commission (FTC) announced revisions (the 2021 Revisions) to its information...more

Dechert Cyber Bits - Issue 22

Dechert LLP on 10/14/2022

SEC Chair Gensler Indicates Commission is Looking to Update SEC’s Regulation S-P - On September 28, 2022, Securities and Exchange Commission (“SEC” or the “Commission”) Chairman Gary Gensler appeared via video at the...more

The Impact of Cybersecurity Regulations on the Financial Services Industry in 2022

Holland & Knight LLP on 1/13/2022

Following the SolarWinds and the Colonial Pipeline cyberattacks, the Biden Administration emphasized a shift toward mandatory cybersecurity requirements. Throughout 2021, government agencies issued new cybersecurity guidance,...more

US Securities and Exchange Commission Increases Focus on Cybersecurity

Mayer Brown Free Writings + Perspectives on 10/15/2021

This past summer’s string of cyber enforcement actions signals that cybersecurity has become a top priority for the US Securities and Exchange Commission (“SEC”). This focus is consistent with the SEC’s Division of...more

How to Move to Remote Work and Comply with U.S. Privacy and Cybersecurity Laws

Orrick, Herrington & Sutcliffe LLP on 3/25/2020

Cybercriminals are known to attack networks and individuals at inopportune times of crisis—and the coronavirus pandemic unfortunately presents just such an opportunity as millions are accessing corporate networks and...more

Cybersecurity Preparedness & Response Alert: Effective Cybersecurity: The Evolving Regulatory Landscape for Investment Advisers,...

Alston & Bird on 12/21/2015

Cybersecurity has become a top concern for executives and boards across all sectors of commerce and critical infrastructure that rely on digital technologies—including financial services—and investment advisers, investment...more

Treasury Department Issues Cybersecurity Checklist for Financial Institutions: What Might Apply to Your Financial Services...

K&L Gates LLP on 12/15/2015

On November 17, 2015, Deputy Treasury Secretary Sarah Bloom Raskin devoted her remarks at the Clearing House Annual Conference to financial sector cybersecurity. She concluded with a list of recommendations for handling...more

SEC brings first cybersecurity-related enforcement action

Robinson+Cole Data Privacy + Security Insider on 10/2/2015

The Securities and Exchange Commission (“SEC”) recently settled its first cybersecurity-related enforcement action against a Missouri based registered investment adviser, R.T. Jones Capital Equities Management, Inc. (the ...more

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