News & Analysis as of

Gramm-Leach-Blilely Act Cybersecurity

Blog: New Mexico Poised to Add the ‘Data Breach Notification Act’ to the Patchwork of State-Level Data Privacy Laws

by Cooley LLP on

The New Mexico Legislature passed the ‘Data Breach Notification Act’ (the Act) on March 15. The Act is now with Governor Susana Martinez who has 20 days from the date the Act was passed to sign it into law. If enacted, the...more

Proposed Federal Cybersecurity Regulations for Financial Institutions Face an Uncertain Future

Last year’s proposed comprehensive framework for cybersecurity rules for large financial institutions is suddenly facing an uncertain future. With the comment period having closed as of February 2017, the framework was facing...more

New Cybersecurity Requirements for New York Financial Companies

by Snell & Wilmer on

The New York Department of Financial Services has new cybersecurity regulations “designed to promote the protection of customer information as well as the information technology systems of regulated entities [financial...more

Notable New State Privacy and Data Security Laws – Part Two

by Snell & Wilmer on

This is the second in a two-part series addressing recent developments in state privacy and data security laws. This article addresses new laws about student privacy, enforcement/ punishment for data privacy and security...more

New Year, New Rules – The 2017 Illinois Personal Information Protection Act

by Locke Lord LLP on

On January 1, 2017, Illinois ushered in a broader and stronger personal information and data breach regime. The Illinois Personal Information Act (PIPA), 815 ILCS § 530, applies any entity that “handles, collects,...more

Incident Response Plans: A Comparison of US Law, EU Law and Soon-To-Be EU Law

by Bryan Cave on

The best way to handle any emergency is to be prepared. When it comes to data breaches, incident response plans are the first step organizations take to prepare....more

New York State Department of Financial Services Cybersecurity Regulation Poised to Reshape Existing Regulatory Landscape

In late December, New York State’s Department of Financial Services (“DFS”) released its revised proposed cybersecurity regulation (the “DFS Rule”). While the revisions pare back some of the DFS Rule’s original requirements...more

Cybersecurity and Data Privacy in 2017: Eight Topics to Follow

by McGuireWoods LLP on

Throughout the past several years, data privacy and security practices have evolved into more than just defending against identity theft and protecting sensitive data. In fact, since 2014, to help raise awareness for data...more

What Will The Proposed New York Cybersecurity Requirements For Financial Institutions Really Make Companies Do?

by Bryan Cave on

In early September 2016, the New York Department of Financial Services (“DFS”) proposed a set of data security regulations (the “Proposal”) that would govern financial institutions, banks, and insurance companies subject to...more

2017 Resolutions for Community Banks: A Focus on Cybersecurity

by Hogan Lovells on

In December 2016, Thomas Curry, the Comptroller of the Currency, stated that cybersecurity was the single greatest systemic threat to our financial system. He was not being hyperbolic. Cybersecurity should be on...more

The Digital Download - Alston & Bird’s Privacy & Data Security Newsletter – November 2016

by Alston & Bird on

Updates on the EU: German DPA Publishes First Privacy Shield Guidelines, Requires German-Law Contracts for Transfers. On June 7, 2016, the European Commission adopted the EU-U.S. Privacy Shield. One question that many...more

2016 Breach Roundup, Part I: U.S. State Data Breach Notification Laws Highlights and Trends

by Alston & Bird on

In many respects, 2016 has been a remarkable year, but one constant with recent history is that multiple states (six this year) amended their breach notification statutes. As is commonly stated, the U.S. ...more

FTC Publishes Data Breach Response Guidelines

by Goulston & Storrs PC on

Whether resulting from a planned cyberattack or mere carelessness, data breaches are on the rise. In 2015, 781 data breaches were reported across the United States, with the average breach costing $3.8 million. In 2016, the...more

Federal Banking Agencies Propose “Enhanced Cyber Risk Management Standards” For the Largest Banks

In a major new cybersecurity initiative the federal banking agencies have issued an advanced notice of proposed rulemaking (“APNR”) seeking comment on enhanced cybersecurity standards for banking entities with $50 billion or...more

Fenwick Privacy Bulletin - Fall 2016

by Fenwick & West LLP on

Privacy Shield – An Early Reflection - EU law generally prohibits the transfer of personal data from the European Economic Area to the U.S., unless the transfer is made in accordance with an authorized data transfer...more

Privacy & Cybersecurity Update: New York State Proposes Cybersecurity Regulation for Financial Institutions

New York state has proposed a new regulation — to go into effect January 1, 2017 — that would require banks, insurance companies and other financial services institutions regulated by the New York State Department of...more

Cybersecurity News and Notes - September 2016

In Case You Missed It: The Federal Trade Commission has opened a public comment period to evaluate its Safeguards Rule (16. C.F.R. § 314.3). Under the Gramm-Leach-Bililey Act (GLBA), which regulates financial institutions,...more

Heal Thyself: Insider Threats to Heed, Especially for Industries with Large Amounts of Personal Information

by Carlton Fields on

A recent study by the Ponemon Institute found that insider threats due to malicious or negligent employees are the leading cause of private-sector cybersecurity incidents. Of the over 600 information security professionals...more

International Regulators Issue Cybersecurity Guidance to the Financial Industry

by Ballard Spahr LLP on

The Bank for International Settlement (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) last week issued the first internationally agreed-upon...more

Illinois Joins the Fray: Strengthens its Laws Around Data Breach Notification and Data Security

Sophisticated phishing scams and muscular hacking efforts continue to compromise personal and sensitive information held by insurers, hospital systems, and businesses large and small. In response, many states have...more

Tennessee Legislature Amends Data Breach Notification Statute - Encryption is No Longer an Automatic Safe Harbor

by Miller & Martin PLLC on

On March 24, 2016, Governor Haslam signed S.B. 2005 which amends Tennessee's data breach notice statute. The amended statute will go into effect on July 1, 2016. The new Tennessee breach notice requirements are triggered by...more

NAIC Task Force Continues Work on Insurance Data Security Model Law

On May 24 and 25, the National Association of Insurance Commissioners (the NAIC) Cybersecurity (EX) Task Force (the Task Force) hosted a meeting in which state insurance commissioners and interested parties were invited to...more

Ransomware: Electronic Extortion for a Digital Era

by Butler Snow LLP on

Last month, the FBI asked the American Bar Association to share a cyberalert with its members warning of an increased risk of ransomware. Ransomware poses significant legal and operational risks to businesses. Personnel at...more

NAIC Report: 2016 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2016 Spring National Meeting from April 1 through April 6 in New Orleans, Louisiana. As host, Louisiana provided beautiful weather and bountiful great food....more

Cyber Security

by Kirton McConkie PC on

Roughly one million pieces of malware—computer viruses or malicious software—are released every day. In recent years, we’ve witnessed an unprecedented level of activity in the cyber arena, both in the form of increased...more

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Cybersecurity

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