On June 28, 2018, California Gov. Jerry Brown signed into law the California Consumer Privacy Act (CCPA or “the Act”), which is the broadest and most comprehensive privacy law enacted in the United States to date.1 The CCPA...more
7/12/2018
/ Anti-Discrimination Policies ,
Business Entities ,
California Consumer Privacy Act (CCPA) ,
Consumer Privacy Rights ,
Consumer Protection Laws ,
Covered Entities ,
Cybersecurity ,
Damages ,
Data Breach ,
Data Collection ,
Data Storage ,
Disclosure Requirements ,
New Legislation ,
Opt-Outs ,
Personal Data ,
Popular ,
Portability ,
Privacy Laws ,
Privacy Policy ,
Private Right of Action ,
Right of Access ,
Right to Delete ,
State Attorneys General
The market for cryptocurrencies and the current wave of initial coin offerings (ICOs) that seek to raise capital for blockchain-based projects have enjoyed a swell of popularity in recent years. U.S. regulatory agencies and...more
6/20/2018
/ Blockchain ,
Breach of Contract ,
CFTC ,
Commodities ,
Cryptocurrency ,
Digital Currency ,
Enforcement Actions ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Popular ,
Rule 10(b) ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Token Sales ,
Unjust Enrichment ,
Unregistered Securities
In 2017, the increased adoption of blockchain technology in various industries was partially obscured by the dramatic fluctuations in the price of bitcoins and the prevalence of so-called initial coin offerings (ICOs) to...more
2/1/2018
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
BitLicense ,
Blockchain ,
Cryptocurrency ,
Department of Financial Services ,
FinCEN ,
Initial Coin Offering (ICOs) ,
NYDFS ,
Popular ,
Securities ,
Securities and Exchange Commission (SEC) ,
Smart Contracts ,
Virtual Currency
For the past few months, issuers of token sales or “initial coin offerings” (ICOs) have known that they were, to some extent, sailing in unchartered waters. Those waters have just gotten a bit murkier with an announcement by...more
9/8/2017
/ Bitcoin ,
Blockchain ,
Canadian Securities Administration ,
Capital Raising ,
China ,
Cryptocurrency ,
Digital Currency ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Fraud ,
Global Market ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Illegal Activity ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Popular ,
Public Financing ,
Pyramid Schemes ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Startups ,
Token Sales
On August 7, 2017, the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) released a summary of its observations (the report) from cybersecurity examinations of 75...more
8/31/2017
/ Broker-Dealer ,
Customer Information ,
Cybersecurity ,
Cybersecurity Examination Initiative ,
Data Protection ,
Data Security ,
Employee Training ,
Financial Services Industry ,
Information Reports ,
Inventory ,
Investment Adviser ,
Investment Companies ,
OCIE ,
Policies and Procedures ,
Popular ,
Ransomware ,
Regulation S-P ,
Risk Alert ,
Risk Assessment ,
Securities and Exchange Commission (SEC) ,
Senior Managers
In this month's edition of our Privacy & Cybersecurity Update, we examine new privacy laws in Germany, an FTC settlement with an alleged consumer loan company over unfair and deceptive practices, the dismissal of a data...more
8/2/2017
/ Children's Toys ,
Civil Monetary Penalty ,
Consumer Financial Products ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Collection ,
Data Protection ,
Dismissals ,
EU ,
Federal Trade Commission (FTC) ,
General Data Protection Regulation (GDPR) ,
Germany ,
Incident Response Plans ,
Lenders ,
Member State ,
Popular ,
Privacy Laws ,
Risk Mitigation ,
Settlement ,
Standing ,
Unfair or Deceptive Trade Practices
On July 17, 2017, the CoinDash initial coin offering (ICO) was hacked within minutes of its launch, resulting in numerous potential purchasers sending their money to a fraudulent address. The hack has raised many questions...more
In this edition of our Privacy & Cybersecurity Update, we discuss how the prospect of a new chair and three new commissioners at the FTC may impact the agency's approach to cybersecurity regulation, a new Massachusetts...more
2/4/2017
/ Administrative Appointments ,
Breach Notification Rule ,
Cyber Insurance ,
Cybersecurity ,
Cybersecurity Framework ,
Data Breach ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Internet of Things ,
NIST ,
OCR ,
Popular ,
Privacy Policy ,
Public Disclosure ,
Software ,
Swiss Privacy Shield ,
Trump Administration
Blockchain, the distributed ledger technology that underlies bitcoin transactions, has been heralded as a transformative technology that is as significant as the development of the internet. The enthusiasm for blockchain...more
2/2/2017
/ Blockchain ,
Cybersecurity ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Global Economy ,
Popular ,
Smart Contracts ,
Technology
President Donald Trump’s statements to date on regulation in general and cybersecurity regulation in particular suggest a conflict between his desire to strengthen the country’s cybersecurity efforts and his general antipathy...more
In this edition of our Privacy & Cybersecurity Update, we take a look at the FCC's new rules for broadband privacy, the FTC's new playbook for data breach response and notification, the NHTSA's voluntary guidance for...more
11/2/2016
/ Actual Injuries ,
Automotive Industry ,
Breach Notification Rule ,
Broadband ,
Cloud Computing ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Breach Plans ,
Driverless Cars ,
EU ,
FCC ,
Federal Bank Regulatory Agencies ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
FTC Guidelines ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Incident Response Plans ,
IP Addresses ,
National Broadband Plan ,
NHTSA ,
Popular ,
Privacy Laws ,
Risk Assessment ,
Risk Mitigation
In this edition of our Privacy & Cybersecurity Update, we examine the Sixth Circuit's decision to allow injury-in-fact to be established by alleging a "substantial risk of harm" in a data breach case, New York state's...more
10/3/2016
/ Article III ,
CFTC ,
Class Action ,
Commodities ,
Corporate Counsel ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Protection Authority ,
EU ,
EU-US Privacy Shield ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Markets ,
Germany ,
International Data Transfers ,
NIST ,
NYDFS ,
Personal Data ,
Popular ,
Standing ,
UK ,
Young Lawyers
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
9/15/2016
/ Banks ,
Chief Information Security Officer (CISO) ,
Comment Period ,
Covered Entities ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Protection ,
Data Retention ,
Financial Institutions ,
Gramm-Leach-Blilely Act ,
Hackers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Insurance Industry ,
NYDFS ,
Popular ,
Proposed Regulation ,
Risk Assessment ,
Risk Management
In this edition of our Privacy & Cybersecurity Update, we discuss what companies need to know in the wake of the EU Court of Justice's rejection of the U.S.-EU Safe Harbor framework and take a look at the following important...more
11/3/2015
/ Cybersecurity ,
Cybersecurity Information Sharing Act (CISA) ,
Data Protection ,
Data Protection Authority ,
ECPA ,
EU Data Protection Laws ,
International Data Transfers ,
Mobile Apps ,
New Legislation ,
Personal Data ,
Popular ,
Privacy Policy ,
Safe Harbors ,
Schrems I & Schrems II ,
US-EU Safe Harbor Framework ,
VPPA
In This Issue:
- DOJ Issues Cyber Preparation and Response Guidance
- RadioShack’s Plan to Auction Customer Data Highlights Issues Over Treatment of Such Data as an Asset
- Google v. Vidal-Hall and...more
5/3/2015
/ Commercial Bankruptcy ,
Customer Lists ,
Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Department of Justice (DOJ) ,
FCC ,
Financial Services Authority ,
Google ,
Hulu ,
Information Sharing ,
NAIC ,
Popular ,
RadioShack ,
Third-Party ,
Video Privacy Protection Act
In This Issue
- White House Releases Proposed Privacy Legislation
- Lessons from the Anthem Data Breach
- SEC and FINRA Release Results of Industrywide Cybersecurity Examination Sweeps
- COSO Releases Report on...more
3/2/2015
/ Anthem Blue Cross ,
Automotive Industry ,
Big Data ,
COSO ,
Cybersecurity ,
Data Breach ,
Financial Industry Regulatory Authority (FINRA) ,
Information Sharing ,
Insurance Industry ,
Obama Administration ,
Popular ,
Securities and Exchange Commission (SEC)
In This Issue:
- Summary of President’s Recent Proposals for Cybersecurity Legislation
- New York Attorney General Proposes New Approaches to Data Security
- Delaware Data Destruction Law Takes...more
This past year has been called the "year of the massive data breach," with many high-profile attacks on well-known companies. Skadden partners Cyrus Amir-Mokri, Patrick Fitzgerald, Marc S. Gerber, Stuart D. Levi and Timothy...more
1/27/2015
/ Best Practices ,
Corporate Counsel ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Popular ,
Retailers ,
Risk Assessment ,
Risk Management ,
Senate Banking Committee ,
Target
In This Issue:
- Home Depot Data Breach — Lawsuits, Calls to Action and Lessons Learned
- Skadden Participates in FBI Cyber-Intelligence Workshop
- FTC Explores Impact of ‘Big Data’ on American...more
10/1/2014
/ Adobe ,
Banking Sector ,
Big Data ,
Class Action ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
EU ,
FBI ,
FDIC ,
Federal Trade Commission (FTC) ,
FTC v Wyndham ,
Home Depot ,
Neiman Marcus ,
Popular ,
Target
In a case closely watched by the television, cable and online content industries, the Supreme Court ruled today that online start-up Aereo Inc. violates copyright law by redistributing over-the-air broadcast content without...more
In This Issue:
- EU Court of Justice Creates Broad Interpretation of the ‘Right to be Forgotten’
- White House Publishes Report on Risks and Opportunities Posed by ‘Big Data’ Practices
- California AG...more
5/30/2014
/ Attorney General ,
Big Data ,
Cybersecurity ,
Do Not Track ,
ECPA ,
EU ,
Federal Trade Commission (FTC) ,
Notice Requirements ,
Popular ,
Privacy Disclosures ,
Right to Be Forgotten ,
Right to Privacy ,
Snapchat ,
Zynga