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Cyber Attacks Financial Markets

Robinson+Cole Data Privacy + Security Insider

Intercontinental Exchange Settles with SEC Over Alleged Delay in Notification of Hack

Intercontinental Exchange, Inc. (ICE), the owner of the New York Stock Exchange, has agreed to settle with the Securities and Exchange Commission (SEC) for $10 million over allegations that it failed to timely notify the SEC...more

Burr & Forman

SIFMA’s After-Action Report on Quantum Dawn VI Cybersecurity Exercise

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On March 31, 2022, the Securities Industry and Financial Markets Association (“SIFMA”) released its after-action report on Quantum Dawn VI – a global financial-markets cybersecurity exercise....more

Troutman Pepper

Financial Stability Board Issues Report Assessing Risks to Financial Stability From Crypto-Assets

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On February 16, the Financial Stability Board issued an updated “Assessment of Risks to Financial Stability from Crypto-assets,” concluding that crypto-asset markets are fast evolving and could reach a point where they...more

Robins Kaplan LLP

Financial Daily Dose 11.19.2021 | Top Story: State AGs to Investigate Possible Instagram Consumer Protection Violations

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A bipartisan coalition of state attorneys general from 10 states has “opened an investigation into Meta, the company formerly known as Facebook, for promoting its social media app Instagram while knowing of mental and...more

Mayer Brown Free Writings + Perspectives

Market Trends 2020/21: Cybersecurity-Related Disclosures

SEC Focus - The Securities and Exchange Commission (SEC) has been focused on cybersecurity issues for over a decade, tracing back to its initial guidance on this topic in 2011. On October 16, 2018, the SEC released a...more

Robins Kaplan LLP

Financial Daily Dose 5.14.2021 | Top Story: Colonial Pipeline Paid $5M Ransom to Hackers, Set Dangerous Precedent

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After a series of denials, it has emerged that Colonial Pipeline reportedly paid 75 Bitcoin (roughly $5 million) to recover its stolen data from last weekend’s ransomware attack. The move likely put a quicker end to the...more

Robins Kaplan LLP

Financial Daily Dose 10.19.2020 | Top Story: ConocoPhillips Buys Oil Producer Concho Resources in Deal Worth Nearly $10B

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ConocoPhillips is doubling down on its commitment to the Midland basin by buying Concho Resources Inc. in “an all-stock transaction valued at $9.7 billion,” even “as the American shale-drilling industry is facing a downturn...more

Robins Kaplan LLP

Financial Daily Dose 7.31.2020 | Top Story: Amazon a Juggernaut?

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Amazon a juggernaut? Quarterly sales and profit prove how indispensable tech giants have become to our society. In the midst of a pandemic, Big Tech mostly shows gains....more

Robins Kaplan LLP

Financial Daily Dose 6.5.2020 | Top Story: The U.S. Job Market Sees Surprising Gains

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The U.S. market is improving, with employers adding 2.5 million jobs. For some perspective, “[t]he economy shed 22.1 million jobs combined in March and April.” So, we have a ways to go before we’ve fully recovered. ...more

Robins Kaplan LLP

Financial Daily Dose 2.10.2020 | Top Story: Volvo May go Public Via Merger With Owner’s Geely Automobile Holdings

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Volvo’s owner, Li Shufu, is mulling over a move to combine the carmaker with his publicly traded Geely Automobile Holdings—a play that would take Volvo public and “unify the bulk of billionaire Li’s growing stable of...more

Robins Kaplan LLP

Financial Daily Dose 1.10.2020 | Top Story: Ransomware Attack on Travelex Sows Chaos Across Foreign Exchange Sector

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Hackers who targeted airport currency exchange mainstay Travelex in a ransomware attack on New Year’s Eve have alerted British media that they possess 5 GB of sensitive customer data from the company “since gaining access to...more

Robins Kaplan LLP

Financial Daily Dose 1.6.2020 | Top Story: Oil Futures Jump as Concerns Deepen Over Mideast Volatility

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Oil jumped for a second straight day, with futures near $70/barrel as fallout from the U.S.’s drone-strike assassination of Iran’s Qassem Soleimani continues to raise “the prospect of disruptions in the world’s most important...more

Robins Kaplan LLP

Financial Daily Dose 8.16.2019 | Top Story: : Cathay Pacific CEO Resigns Amidst Turmoil in Hong Kong

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Hong Kong-based Cathay Pacific Airways CEO Rupert Hogg has resigned in order to “take responsibility” a week “after the carrier was rebuked by China for staff involvement in the anti-Beijing protests rocking Hong Kong.” Hogg...more

Dechert LLP

FCA Enforcement Risk: The Year Ahead

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Firms will need to ensure their systems and controls to prevent financial crime and money laundering are working effectively: this is just part of the message contained in the FCA’s Business Plan for 2019/20. The Business...more

The Volkov Law Group

Former CFTC Chairman Calls to Strengthen Cryptocurrency Regulations

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Just this month, former CFTC Chairman Timothy G. Massad released a report through the Brookings Institution entitled “It’s Time to Strengthen the Regulation of Crypto-Assets.” ...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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We seem to be in whipsaw territory, as a tech selloff on Monday spread into a “broad retreat” that led to the Dow tumbling 600 points....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Big news out of Uber this weekend, where the company and its board resolved outstanding issues with Travis Kalanick in order to finalize a deal in which a SoftBank-led consortium of investors will buy up about $1 billion of...more

Burr & Forman

SEC’s Chairman Makes Changes After the Agency’s Latest Cyber-Attack

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The Securities Exchange Commission (“SEC”) has been busy the last couple months on the cyber front. On September 20, the SEC announced a renewed focus on cybersecurity efforts and disclosed that it had been a victim of a...more

Nossaman LLP

The SEC Gets Hacked: What Now?

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It was recently revealed that the Securities and Exchange Commission’s (“SEC”) EDGAR database, which is used by public companies to file official documents, was breached. According to the SEC, trading off of that hacked...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Equifax’s ex-CEO Richard Smith will be on the Hill today to address the a subcommittee of the House Energy and Commerce Committee. Smith is expected to report that a “widespread breakdown in security safeguards” at his former...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Troubled Japanese auto parts maker Takata, “crippled by vast airbag recalls,” has filed for bankruptcy protection in the US and is planning to sell its surviving operations to Key Safety Systems, an American rival owned by a...more

Nossaman LLP

SEC Urges Investment Firms to Better Prepare for Ransomware Attacks

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On May 17, 2017, the SEC’s Office of Compliance Inspection and Examination (“OCIE”) issued a risk alert urging broker-dealers, investment advisors and investment companies to safeguard themselves against ransomware in light...more

Patterson Belknap Webb & Tyler LLP

SEC Warns of Ransomware Attacks

The U.S. Securities and Exchange Commission is asking broker-dealers, investment advisers and funds to redouble their cybersecurity efforts in wake of the global cyber-attack of the WannaCry virus that has spread to more than...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Streetwise traces Italy’s Banca Monte dei Paschi’s big-time current troubles to a meeting nearly a decade ago and the ill-fated deal reached there that’s led to the downfall of 3 (and probably 4) of the world’s biggest and...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - Agencies Issue Advanced Notice of Proposed Rulemaking on Enhanced Cyber Risk Management Standards - On October 19, 2016, the Federal Reserve Board, the Federal Deposit Insurance...more

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