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SEC Approves New PCAOB Standard

Recently, the SEC approved the PCAOB’s new auditor reporting standard, AS 3101, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion. Hailed as the most significant change...more

PCAOB Adopts Audit Engagement Partner Disclosure

On December 15, 2015, the Public Company Accounting Oversight Board (PCAOB) continued its pursuit of providing investors with improved audit transparency and audit accountability by adopting new rules requiring auditors to...more

Target Data Breach Class Certified: Data Breaches Potentially Fertile Ground for B2B Class Actions

Retail data breaches are multi-victim crimes, with the retailer, consumers and affected third parties all having legitimate claims to “victimhood” – and each left squabbling as the hacker vanishes into the digital ether....more

EU and U.S. Reach “Umbrella Agreement” on Data Transfers

The EU and U.S. reached an agreement on Tuesday (9 September) which will enable the two sides to exchange personal data during criminal and terrorism investigations....more

UK Patients’ Data Exposed by Group Email

The 56 Dean Street Clinic, which is operated by the Chelsea and Westminster NHS Trust and specializes in HIV and other sexual health services, has apologized for the error which revealed (to all 780 recipients) the full names...more

NFA Proposes Cybersecurity Guidance for Derivatives Traders

On August 28, 2015, the National Futures Association (NFA) submitted a proposed interpretative notice (Notice) to the Commodity Futures Trading Commission (CFTC) to require information systems security programs (ISSPs). If...more

A Classy Affair: Class Action Lawyers Race to Courthouse in Wake of Ashley Madison Data Breach

Illicit affairs have always imposed risks – from marital discord and divorce to boiling bunnies and Maury appearances. However, when old-school adultery met new-school technology on the Ashley Madison infidelity website,...more

UK’s First Ever Right To Be Forgotten Enforcement : Google In The Firing Line Again

The UK’s Information Commissioner’s Office (ICO) has made what appears to be its first “right to be forgotten” enforcement action against Google Inc. The ICO issued the notice on 18 August 2015, ordering Google to remove nine...more

Neiman Marcus Seeks En Banc Review of Seventh Circuit’s Watershed Data Breach Class-Action Decision

Does a data breach of a retailer’s payment-card information automatically confer Article III standing on affected customers? Is the mere possibility that some criminal element may use pilfered information to commit future...more

Target and Visa Announce $67 Million Settlement

Last winter, following a well-publicized data breach, a group of financial institutions sued Target, arguing that Target should be held responsible for the damages that they had experienced as a result of the data breach...more

Credit Card Fraud Liability Shift Looms for Retail Industry

On October 1, 2015, a substantial portion of the liability associated with in-store fraudulent credit card purchases will shift from credit card issuers, such as banks or credit unions, to retail merchants. Credit card...more

Facial Recognition and Privacy

Based upon the way modern computers are designed, there are certain tasks they are much better at performing than humans. It wouldn’t be pedantic to point the fact that’s the purpose of a computer in the first place: to do...more

Rhode Island Governor Signs Comprehensive Identity Theft Protection Act

On June 26, Rhode Island Governor Gina Raimondo (D) signed into law Senate Bill 0134, the Rhode Island Identity Theft Protection Act of 2015 (the Act), which clarifies data security measures, expands protection to health data...more

Newly Enacted Statute Restricts Virginia Employers’ Access to Employees’ Social Media Accounts

On July 1, 2015, a new law, Virginia Code Section 40.1-28.7:5 went into effect that prohibits Virginia employers from requiring current or prospective employees: (1) to disclose their social media account usernames and/or...more

Broker-Dealer Audits: PCAOB Disciplinary Orders and Extraordinary Cooperation Credit

Despite a decreased budget in 2015, Public Company Accounting Oversight Board (PCAOB) Chairman James R. Doty believed there would be enough resources to continue with the PCAOB’s strategic plan to serve as the oversight body...more

Considerations in Drafting Limitations of Liability for Data Breaches

Until very recently, it was considered matter of course in a services agreement for any data disclosure or loss, regardless of cause, to be excluded from any and all limitations of the vendor’s liability. However, as data...more

Belgian Data Protection Authority Sues Facebook Over Privacy Breaches

As already stated in a previous blog post, on May 13, 2015, the Belgian Data Protection Authority issued a recommendation in which it expressed its concern about Facebook tracking users, non-users and logged-out users without...more

French Data Protection Authority Sanctioned For Not Anonymizing A Decision

Even the French Data Protection Authority (CNIL – Commission Nationale de l’Information et des Libertés) can be sued for the violation of its own recommendations. Following is its recommendation regarding the anonymization of...more

6/18/2015  /  Anonymization , CNIL , France

The French Data Protection Authority Puts Google On Notice To Delist Domain Names Beyond Site’s EU Extensions

One, of course, recalls the May 13, 2014 decision of the Court of Justice of the European Union (CJEU) on the “right to be forgotten”. As a result, the French Data Protection Authority (CNIL – Commission Nationale de...more

Update Regarding Office of Personnel Management Cyber Attack

More details continue to emerge about the cyber attack and data breach disclosed last week of the U.S. federal government’s Office of Personnel Management (OPM), and those details continue to get worse. While original reports...more

6/15/2015  /  China , Cyber Attacks , Cybersecurity , Data Breach , DHS , FBI , OPM

Encryption and the Consequences of Policy

A few weeks ago, your humble blogger looked into how difficult it was for someone to crack encryption in light of debates on Capitol Hill about whether policies should be put in place to limit its strength. In March and May,...more

Google Revamps Privacy and Security Settings

The redesigned account page does not offer any additional privacy or security options over those previously offered. Instead, it consolidates all of Google’s privacy and security settings, thus making it easier for a customer...more

Facebook Takes a First Step Toward Mass Adoption of Encryption

This week, the social networking service Facebook quietly announced that it will begin making PGP encryption available for communications from Facebook to its users. While this step, in itself, is a small one not likely to...more

6/9/2015  /  Encryption , Facebook , Innovation

Fitbit IPO Cyber Risk Disclosures

Earlier this month, fitness-tracking company Fitbit, Inc. filed a Form S-1 Registration Statement for an IPO of up to $100 million that exhaustively disclosed potential cybersecurity risks with respect to the personal data...more

EU Council Confirms the Forthcoming Strong Enforcement of Fundamental Right to Data Protection

A recent leaked draft proposal reveals the position of the E.U. Council as regards to the fines system that will come into force under the proposed new General Data Protection Regulation in the E.U. member states. The huge...more

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