In Short -
The Situation: On July 26, 2023, the U.S. Securities and Exchange Commission ("SEC") adopted final rules that significantly alter cybersecurity disclosure obligations for companies. The SEC's final rules adopt...more
8/2/2023
/ Corporate Governance ,
Cyber Attacks ,
Cyber Incident Reporting ,
Cybersecurity ,
Disclosure Requirements ,
Final Rules ,
Form 10-K ,
Form 8-K ,
Publicly-Traded Companies ,
Regulation S-K ,
Reporting Requirements ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On July 10, 2023, the EU Commission adopted its adequacy decision for the EU-U.S. Data Privacy Framework, concluding that the United States ensures an adequate level of protection for personal data transferred from the...more
On June 16, the U.S. Department of Commerce published a final rule, effective July 17, 2023, on Securing the Information and Communications Technology and Services ("ICTS") Supply Chain, signaling potential new actions on...more
On May 30, 2023, the Cyberspace Administration of China ("CAC") issued the "Guidance on Filing the Standard Contract for the Cross-Border Transfer of Personal Information" ("Guidance"), which took effect on June 1, 2023....more
On March 28, 2023, Iowa—following California, Colorado, Connecticut, Utah, and Virginia—became the sixth state to adopt a comprehensive consumer data privacy law.
On March 28, 2023, Iowa Governor Kim Reynolds signed "An...more
If adopted, these proposed rules would (i) enhance protection of customer information under Regulation S-P, (ii) add new requirements addressing cybersecurity risk to the U.S. securities markets, and (iii) expand the types of...more
Asserting that the company misstated the scope of data stolen in the cyberattack, the SEC provides a clear reminder that cybersecurity disclosures remain an agency priority....more
On February 24, 2023, the Cyberspace Administration of China ("CAC") issued the long-awaited Measures on the Standard Contract for Outbound Cross-Border Transfer of Personal Information ("Measures")....more
France's Orientation and Programming Law of the Ministry of the Interior ("LOMPI law"), published in the Official Journal of January 25, 2023, amends the insurance coverage of losses and damages paid in response to...more
2/27/2023
/ Cyber Attacks ,
Cyber Crimes ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Processors ,
France ,
Information Technology ,
Insurance Code ,
New Guidance ,
Popular ,
Ransomware ,
Regulatory Requirements
In Short:
The Situation: The cyber insurance market is experiencing a major retrenchment, with insurers seeking to limit their exposure in a variety of ways....more
In Short -
The Situation: Following a number of high-profile cyber incidents resulting in significant data breaches, the Australian Government has doubled down on its efforts to strengthen privacy laws and cybersecurity...more
The Council of the European Union ("EU") adopted a new Directive to strengthen cybersecurity and resilience across the Union. -
Following the European Parliament's approval on November 10, 2022, the Council of the European...more
In Short -
The Situation: The California Privacy Protection Agency ("CPPA" or "Agency") has modified its proposed regulations implementing many key California Privacy Rights Act ("CPRA") requirements....more
On October 7, 2022, President Biden signed an executive order on "Enhancing Safeguards for United States Signals Intelligence Activities," outlining the measures that the United States will take to implement its commitments...more
The OMB has issued memorandum M-22-18 with new security requirements (the "Rules") requiring federal agencies to ensure that all third-party software they use complies with secure software development standards and guidance...more
On August 24, 2022, California Attorney General Rob Bonta announced his office's first privacy enforcement action and settlement against a publicly disclosed entity, Sephora, Inc., for violations of the CCPA, including the...more
The Federal Trade Commission announced on August 11, 2022, that it is seeking public comment regarding its Advanced Notice of Proposed Rulemaking on commercial surveillance and data security.
The Federal Trade Commission...more
In Short -
The Situation: China released new regulations and guidelines to clarify the procedural requirements companies must satisfy for the cross-border transfer of personal information under the Personal Information...more
On March 24, 2022, Utah followed California, Virginia, and Colorado in adopting a comprehensive consumer data privacy law.
On March 24, 2022, Utah Governor Spencer Cox signed the Consumer Privacy Act ("Act"), making Utah...more
4/7/2022
/ Cybersecurity ,
Data Breach ,
Data Controller ,
Data Processors ,
Data Protection ,
Data Security ,
New Legislation ,
Personal Data ,
Personally Identifiable Information ,
Regulatory Reform ,
State Data Privacy Laws
On March 15, 2022, President Biden signed into law the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (the "Act"), creating new requirements for organizations operating in critical infrastructure sectors to...more
3/18/2022
/ Biden Administration ,
Critical Infrastructure Sectors ,
Cyber Attacks ,
Cyber Incident Reporting ,
Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA) ,
Cybersecurity ,
Data Breach ,
Data Breach Plans ,
Data Protection ,
Data Security ,
New Legislation ,
Popular ,
Regulatory Reform ,
Reporting Requirements
As part of the SEC's broader rulemaking initiative, on March 9, 2022, the SEC proposed amendments to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by...more
3/14/2022
/ Corporate Governance ,
Cybersecurity ,
Data Breach ,
Disclosure Requirements ,
Foreign Private Issuers ,
Form 10-K ,
Form 10-Q ,
Form 8-K ,
Proposed Amendments ,
Publicly-Traded Companies ,
Regulation S-K ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The Cyberspace Administration of China has issued draft guidance on applying for and conducting security assessments for cross-border data transfers for public comment. On October 29, 2021, the Cyberspace Administration of...more
11/10/2021
/ China ,
Comment Period ,
Consumer Privacy Rights ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
Extraterritoriality Rules ,
International Data Transfers ,
Personal Information ,
Personal Information Protection Law (PIPL) ,
Popular ,
Public Comment ,
Regulatory Reform ,
Regulatory Requirements
Regulations will mandate more robust customer identity verification procedures and special measures to combat malicious cyber activities.
On September 24, 2021, the Department of Commerce ("Commerce") published an Advance...more
The U.S. Department of Justice announces an initiative targeting cybersecurity-related fraud by government contractors and grant recipients.
On October 6, 2021, the U.S. Department of Justice ("DOJ") announced a new Civil...more
The U.S. Treasury Department has issued an updated ransomware advisory that highlights sanctions risks associated with ransomware payments and details proactive steps companies can take to mitigate these risks....more