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U.S. House Subcommittee Holds Hearing On Cybersecurity In The Financial Industry

by King & Spalding on

On February 14, 2018, the U.S. House of Representatives Subcommittee on Financial Institutions and Consumer Credit of the Committee on Financial Services held a hearing entitled “Examining the Current Data Security and Breach...more

President Trump Sets Cybersecurity Funding Goals In Budget Proposal

by King & Spalding on

On February 12, 2018, President Trump released a budget proposal for fiscal year 2019 that includes requests for cybersecurity-related funding for the Department of Defense (“DOD”), Department of Homeland Security (“DHS”),...more

New York DFS Cybersecurity Certifications Due

The time has come for entities regulated by the New York Department of Financial Services to make their first certification of compliance with the regulator’s cybersecurity rules....more

Countdown to GDPR-Episode 1, Introduction to GDPR

by Thomas Fox on

Whether you are ready or not, the EU General Data Protection Regulation (GDPR) goes live on May 25, 2018. It will impact companies doing business in London as much as any other EU legislation. To help US companies prepare,...more

Do Your Cyber and D&O Policies Cover Emerging Exposures Arising Out Of The New NYDFS Cybersecurity Regulations?

by King & Spalding on

March 1, 2018 will mark one year since the effective date of the New York Department of Financial Services’ (“NYDFS”) cybersecurity regulations, which may signal a trend towards stricter industry-specific regulatory oversight...more

SEC Staff Announces 2018 OCIE Examination Priorities

by Proskauer Rose LLP on

Last week the staff of the Office of Compliance Inspections and Examinations (OCIE) of the SEC announced its 2018 examination priorities. The 2018 examination priorities include five thematic areas: (i) compliance and risks...more

NY DFS Cybersecurity Compliance Certificate Required Today; Additional Requirements Looming

by Locke Lord LLP on

As previously warned, February 15, 2018 is the first annual deadline for individuals and companies licensed or otherwise authorized under the New York Insurance, Banking and Financial Services laws (defined as Covered...more

Thirty-Six Individuals Charged In Global Cybercrime Ring “Infraud”

by King & Spalding on

The United States Department of Justice (“DOJ”) recently indicted thirty-six individuals leading a global cybercrime ring for allegedly trafficking in stolen personal and financial information....more

Data Privacy + Cybersecurity Insider - February 2018 #3

by Robinson & Cole LLP on

As of February 15, 2018, banks, insurance companies, and other financial services institutions and licensees regulated by the New York Department of Financial Services (DFS) are required to file their first certification of...more

New York’s Landmark Cybersecurity Regulation Amendment Proposed, Deadlines Looming

by Robinson & Cole LLP on

On February 15, 2018, banks, insurance companies, and other financial services institutions and licensees regulated by the New York Department of Financial Services (DFS) will be required to file their first certification of...more

The DFS Effect: Cyber Meets Sarbanes Oxley

Financial institutions with ties to New York spent their Valentine’s Day learning how to use the New York State Department of Financial Services (DFS) web portal....more

Cybersecurity and Insurers

Whether it is a data breach of a corporation's computer systems or alleged hacking by foreign governments, Cybersecurity and Privacy issues seem to bombard us daily. As counsel for insurance companies, it is important to stay...more

Deadline Approaching under NY Cybersecurity Regulations

If your company is one of the broad group of businesses licensed by the New York Department of Financial Services (NY DFS), a very important deadline is bearing down on February 15. Regulated entities have under Thursday to...more

Nationwide, State Legislators Push Blockchain-friendly Legislation

As previously reported, state legislatures throughout the country continue to propose legislation designed to facilitate the use of blockchain-based technology by businesses within their states....more

The Top Ten Regulatory and Litigation Risks for Private Funds in 2018

With the public equity markets at an all-time high and private equity fund raising setting new records, it might seem counter-intuitive to forecast litigation and regulatory risks. The opposite is true. Disputes typically...more

Blockchain and Privacy

Discussions about “blockchain” technology seem to be everywhere these days, with potential applications spanning industries as diverse as banking, healthcare, real estate, law enforcement, entertainment, and even wine and...more

In Case You Missed It: Launch Links - February, 2018

by WilmerHale on

Some interesting links we found across the web this week: - 3 Things Every Startup Cofounder Should Keep in Mind - Co-founders are like spouses, friends, teammates and colleagues all wrapped up in one....more

Mnuchin to discuss Equifax data breach with FSOC

by Ballard Spahr LLP on

Appearing before the House Financial Services Committee Tuesday at a hearing entitled “The Annual Report of the Financial Stability Oversight Council” (FSOC), Treasury Secretary Mnuchin indicated that he intends to discuss...more

Use of the Blockchain to Contract Digitally

Smart contracts are self-executing agreements written in code on the blockchain. Parties contract digitally using distributed ledger technology. This article offers a layperson’s, non-technical summary of the underlying...more

CFPB reportedly puts investigation of Equifax on ice while other government agencies press forward

by Ballard Spahr LLP on

Equifax announced on September 7, 2017 a massive data breach affecting an estimated 143 million consumers. Richard Cordray, the then Director of the CFPB, shortly thereafter authorized an investigation according to several...more

OCC Identifies Cybersecurity as an Increasing Risk to Banks in Semiannual Risk Perspective

by Weiner Brodsky Kider PC on

The Office of the Comptroller of the Currency (OCC) recently released its Semiannual Risk Perspective for Fall 2017, assessing the risks facing national banks and federal savings associations as of June 30, 2017. A key risk...more

Privacy & Cybersecurity Update - January 2018

In this month's edition of our Privacy & Cybersecurity Update, we discuss Poland's potential exemptions from the new EU data law and the Office of the Comptroller of the Currency's recommendations for U.S. banks faced with...more

Upcoming Deadlines For Covered Entities Subject To NYS DFS Cybersecurity Regulations

by Jackson Lewis P.C. on

Last week, the New York State Department of Financial Services (“DFS”) issued a press release to remind covered entities of an upcoming deadline under the DFS cybersecurity regulations. The next deadline under the...more

A round-up of some of the most interesting developments to look out for in 2018 for disputes lawyers

by Allen & Overy LLP on

Brexit - It is impossible not to mention Brexit which will be defined by the politics. 2018 is also likely to bring a significant increase in UK policymaking and related legislative change. We expect to see the publication...more

NIST Issues Blockchain Technology Report to Help Businesses “Make Good Decisions” About Using Blockchain

On January 24, 2018, the National Institute of Standards and Technology (NIST) issued its “Draft NIST Interagency Report 8202 Blockchain Technology Overview” which it announced as NIST’s “Report on Blockchain Technology Aims...more

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