Data Protection

News & Analysis as of

FFIEC Releases Cybersecurity Assessment Tool

As previously covered in InfoBytes, on June 30, the FFIEC released a Cybersecurity Assessment Tool (Assessment) to provide a “repeatable and measurable process” for financial institutions to measure their cybersecurity...more

Federal Cybersecurity Legislation Moving Quickly, But Is It In the Wrong Direction?

Federal cybersecurity legislation seeking to establish a national standard for data protection and breach response is quickly working its way through the legislative process. The bipartisan bill, formerly known as the Data...more

China Adopts the New National Security Law - a Top Legislative Effort to Control Cybersecurity

On 1 July 2015, the Standing Committee of the National People's Congress, China's top legislature, approved the new National Security Law of the People's Republic of China, the "New Law") which became effective on the same...more

Audit reveals U.S. Treasury Dept. security infrastructure is weak

An annual audit conducted by the U.S. Government Accountability Office of the Fiscal Service Bureau, identified (9) nine new information security weaknesses in the U.S. Treasury Department’s information systems that are used...more

Top Ten Things to Do When an Employee Resigns to Join a Competitor

When an employee resigns to join a competitor, it is important to respond promptly. Odds are that the employee has been orchestrating his or her departure for weeks or months. The security of your trade secrets and/or...more

Alert: FTC Releases New Data Security Guide: 50 Mistakes to Avoid in 10 Lessons

The Federal Trade Commission (FTC) has brought over 50 cases against companies that put consumer data at unreasonable risk. On June 30, 2015, the FTC released a guide titled Start with Security that summarizes 10 lessons the...more

OPM Proposes Actions To Strengthen Cybersecurity Of Its IT Systems

On June 24, 2015, the Office of Personnel Management (the “OPM”) announced several actions to strengthen its cybersecurity. The 8-page “Actions to Strengthen Cybersecurity and Protect Critical IT Systems” (the “Action Plan”)...more

Federal Trade Commission Issues “Start with Security” Guidance

On June 30, the Federal Trade Commission (FTC) issued its first guidance document as part of its Start with Security initiative. The initiative, announced by FTC Consumer Protection Director Jessica Rich in March, will...more

OPM and Where The Lines Are

The recent hacking of the sensitive personal information of millions of American public servants at the Office of Personnel Management (OPM) points out a noteworthy distinction in how the U.S. government views some types of...more

Lessons from FTC Enforcement Actions

The FTC released a guide for businesses based on lessons learned from the more than 50 reported FTC enforcement actions. This new guide, “Start With Security: A Guide For Business” outlines a general “standard of care” for...more

Federal Employees’ Personal Information Compromised by Data Breach

In recent headlines, the Office of Personnel Management (“OPM”) has begun notifying millions of federal employees that it may have lost their personal information earlier this month in a data breach. The data breach...more

Progress on Data Protection in the European Union

We may see the final text of the proposed EU General Data Protection Regulation by the end of 2015. In mid-June, the Council of the European Union set forth an agreed general approach to the proposed EU General Data...more

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

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

Cyber risks -- Congressional Letter to SEC

On June 18, 2015, Congressmen Jim Langevin (D-RI) and Jim Himes (D-CT) sent a letter to the Securities and Exchange Commission (SEC) calling for updated cybersecurity disclosure guidance for publicly traded companies....more

If You Can’t Say Anything Nice . . .

You will feel right at home with the CFPB’s newly augmented web-based public-facing complaints database. In accordance with its Final Policy Statement issued on March 19, 2015, the CFPB began publishing consumer complaint...more

Digital Disruption When You Least Expect (Or Want) It

In this Presentation: - Introduction - Chocolate, Cookies, Coffee and Biscuits - Privacy, Legislation, Underworld behaviour - Even manufacturers have secrets to protect! - Invention, 1%’ers and...more

FIN4 May Have Embarked on a Risky Hacking/Insider Trading Strategy

I haven’t yet turned to a life of crime, so far be it from me to criticize actual criminals’ profit-maximizing strategies. It’s easy for me to nitpick, but I’m not the one strapping on my mask and trying to earn a...more

Data breach: how information governance reduces risk

With all the data breach activity over the past several years, any organization or individual that hasn’t been affected in some way almost feels left out. According to the Department of Health and Human Services, 120 million...more

Laws Governing Data Security and Privacy – U.S. Jurisdictions at a Glance

The below chart constitutes a summary of the laws of various jurisdictions that govern data breach notifications...more

Proposed Change to Export Controls Would Allow Use of the Cloud for Encrypted Data

On June 3, 2015 the State Department’s Directorate of Defense Trade Controls (DDTC) and the Commerce Department’s Bureau of Industry and Security (BIS) published proposed regulations which would change the definition of the...more

Internet Of Things, News Websites Fare Poorly In Security And Privacy Review

On June 16, the Online Trust Alliance, an industry group focused on developing and encouraging best practices in online security and privacy, announced that a recent audit of approximately 1,000 websites showed that 46%...more

Financial Services Weekly News Roundup - June 2015 #4

Regulatory Developments - Client Alert: SEC Proposes Pay for Performance Rules: Goodwin Procter’s Capital Markets practice has issued a Client Alert on the SEC’s proposed rule that would require most public...more

Focus on China Compliance - June 2015

In This Issue: - Increased Scrutiny by Chinese Securities Regulators Will Have Global Implications - Effective Employee Suspension Agreements to Facilitate Compliance Investigations - Protecting Against...more

Even Small Businesses Need To Pay Attention To Data Security

When people think about data breaches, corporate giants like Target, Home Depot and Michael’s spring to mind. But even small businesses holding personal information can face costly consequences if a breach occurs. In the...more

IRS Expands Identity Protection Program to Cover Additional Taxpayers

The Internal Revenue Service (IRS) recently announced that starting in 2015, taxpayers who filed their 2014 federal tax return with an address in Florida, Georgia, or Washington, D.C. are eligible to obtain an "identity...more

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