News & Analysis as of

Data Protection Cybersecurity

SEC Cybersecurity Risk Alert Emphasizes Proactive Compliance and Ongoing Vigilance

by BakerHostetler on

On August 7, 2017, the Securities and Exchange Commission (SEC) released its latest cybersecurity risk alert, detailing findings from the examination of 75 broker-dealers, investment advisers and investment companies carried...more

SEC Watch: “Observations” from SEC’s Cybersecurity 2 Initiative

Last week, the U.S. Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) released its “Observations from Cybersecurity Examinations” conducted pursuant to OCIE’s...more

Government Announces Proposals for a New Data Protection Bill

by Reed Smith on

The government has released a Statement of Intent (“the Statement”) for a new Data Protection Bill (“the Bill”). The Bill was originally announced in the Queen’s Speech earlier this year. This Statement provides further...more

NIST Issues New Password Security Recommendations: Keep It Simple, Long And Memorable

by Fox Rothschild LLP on

The United States National Institute for Standards and Technology (NIST) has issued new guidelines for creating secure passwords. NIST guidelines, which are directed to “federal government systems,” often become best...more

SEC Observations from Recent Cybersecurity Examinations Identify Best Practices

by Morgan Lewis on

The SEC continues to focus on cybersecurity as an area of concern within the investment management industry....more

New Mexico’s Data Breach Law

by Snell & Wilmer on

Almost all U.S states have laws about data security and what to do when there’s a data breach. New Mexico recently added such a law for its state. Here is what’s in the New Mexico law....more

NAIC Cybersecurity Working Group Votes to Approve Insurance Data Security Model Law

by Carlton Fields on

The National Association of Insurance Commissioners (NAIC) Cybersecurity (EX) Working Group (Cybersecurity WG) approved Version 6 (Finalized) of its Insurance Data Security Model Law (Model) on August 7 at the NAIC Summer...more

Russian Data Protection Authority Publishes Privacy Policy Guidance

by Hogan Lovells on

On 31 July, the Russian data protection authority, Roskomnadzor, issued guidance for data operators on the drafting of privacy policies to comply with Russian data protection law. Russia’s 2006 privacy law – Federal Law No....more

UK Will Soon Introduce a New Data Protection Bill

by Alston & Bird on

The UK Department for Culture, Media & Sport is planning to present a new Data Protection Bill to the Parliament in early September. This new Bill will replace the current UK Data Protection Act 1998 and will effectively...more

SEC Report Highlights Financial Firms’ Cybersecurity Improvements and Shortcomings

On August 7, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert summarizing the results of its second cybersecurity preparedness examination. The...more

FTC Issues ‘Stick with Security’ Guidance Emphasizing Data Security Best Practices

The Acting Director of the FTC’s Bureau of Consumer Protection, Thomas B. Pahl, recently commenced a ‘Stick with Security’ series of blog posts that analyze the data security principles championed by the FTC in its Start with...more

How A Potent Defense Can Stifle Data-Breach Lawsuits By Businesses

by Ellis & Winters LLP on

Consumers aren’t the only plaintiffs in data-breach litigation. Businesses sue, too. When they do sue, businesses can be strong plaintiffs. This is because, unlike consumers, businesses usually can establish standing,...more

Patching Up Your Information Security Review

by Morgan Lewis on

In light of recent significant ransomware cyberattacks such as the one that originated in Ukraine and quickly spread to affect hundreds of thousands of computers in more than 150 countries, we wanted to provide a few pointers...more

DFS Cyber Regulation Countdown: Who Should Certify Compliance?

Companies subject to New York’s Department of Financial Services (DFS) new cybersecurity regulation should be preparing to comply with the first round of requirements by the upcoming August 28th deadline: enacting a...more

CPR Appoints New Cyber Panel Ahead of Anticipated Increase in Data Security Disputes

by Hogan Lovells on

The International Institute for Conflict Prevention and Resolution, a New York-based organisation offering Alternative Dispute Resolution (ADR) services, has recently announced the launch of a new specialised panel of...more

Slovensko ako priekopník v „preklápaní“ nariadenia GDPR do zákona

by Allen & Overy LLP on

Nový návrh zákona o ochrane osobných údajov - Po rokoch kontroverzných diskusií ohladne novej právnej úpravy bol schválený text nového nariadenia o ochrane osobných údajov (GDPR) ktorý sa zacne uplatnovat 25. mája 2018....more

FTC Blog Posts Offer Security Guidance

In an effort to provide insight into the Federal Trade Commission’s data security principles, the agency pledged to each week share a new blog post with lessons for businesses....more

OCIE Publishes Risk Alert Summarizing Observations from Recent Cybersecurity Examinations

by Bryan Cave on

On August 7, 2017, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert summarizing its observations from cybersecurity preparedness examinations conducted of 75 broker-dealers, investment...more

Artificial Intelligence Enabled Cybersecurity Systems

by Jackson Lewis P.C. on

The use of artificial intelligence (AI) enabled cybersecurity systems is increasing dramatically. By 2018, sixty-two percent of all companies are projected to use AI technologies. The use of AI cybersecurity systems...more

SEC Cybersecurity Alert

by Liskow & Lewis on

The SEC published a National Exam Program Risk Alert describing the results of cybersecurity exams of 75 broker-dealers and investment advisors on August 7, 2017. “National Exam Program Risk Alert, Observations from...more

Connecticut Insurance Department Issues Bulletin on Data Security Requirements

We previously outlined the requirements of the Connecticut data breach law when it was amended in 2015, including the requirement to implement a comprehensive information security program (CISP)....more

A Guide to NYDFS Cybersecurity Regulations’ August 28 Implementation Deadline

by Hogan Lovells on

As a follow-up to our previous reports (December 30, 2016 Alert; February 24, 2017 Alert) regarding the cybersecurity regulations issued by the New York State Department of Financial Services (NYDFS), we would like to remind...more

New Cybersecurity Rules for Colorado Investment Advisers and Broker-Dealers

by Snell & Wilmer on

Colorado has adopted new rules that add cybersecurity requirements for certain entities with Colorado securities licenses. The rules are from the regulatory agency the Division of Securities. It licenses securities...more

DFS Provides Answers to Cybersecurity FAQs

Hoping to provide greater clarity to financial institutions subject to its new cybersecurity requirements, New York’s Department of Financial Services (DFS) published a Frequently Asked Questions (FAQ) document to assist...more

Senate Cybersecurity Caucus Introduces Bill To Secure Federal Agencies’ Connected Devices

by King & Spalding on

On August 1, 2017, the Senate introduced the proposed “Internet of Things (‘IoT’) Cybersecurity Improvement Act of 2017” (the “Act”) to establish, among other things, minimum cybersecurity standards for contractors who...more

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