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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +
Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now.   less -
Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: 2024 Fourth Quarterly Review

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The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

Holland & Knight LLP

A Word from the Ghost of Holiday Future: SEC Active in Cybersecurity and AI Actions

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The SEC was increasingly active in fiscal year (FY) 2024 in pursuing enforcement actions involving cybersecurity incidents and artificial intelligence (AI) (query how long society will continue to define AI; harkens to the...more

Holland & Knight LLP

Undeterred by the SolarWinds Storm: SEC Charges Victims of Compromised Software

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The SEC on Oct. 22, 2024, announced charges against four companies for allegedly making materially misleading disclosures concerning the impact of cybersecurity incidents associated with the compromised SolarWinds' Orion...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: Oct. 1 Quarterly Review

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The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

Holland & Knight LLP

SEC Expands Scope of Internal Accounting Controls in Cybersecurity Breach Settlement

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The SEC continues to expand its cybersecurity enforcement authority to include allegations that a company's failure to monitor its managed security service providers (MSSP) amounts to violations of federal securities laws....more

BakerHostetler

The SEC’s Regulation of Cybersecurity Continues

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The Securities and Exchange Commission entered into a resolution agreement with R.R. Donnelley & Sons (RRD) on June 18, 2024 with RRD agreeing to pay $2.125 million to resolve disclosure and control violations alleged by the...more

BCLP

SEC Brings Landmark Cybersecurity Disclosure Lawsuit Against Solarwinds and Its CISO

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On October 30, 2023, the SEC filed charges against SolarWinds Corp. and its chief information security officer (CISO), alleging: ..Failures to disclose known cybersecurity vulnerabilities affecting the company’s “crown...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - November 2023

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Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Morrison & Foerster LLP

Top 5 SEC Developments for July 2023

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In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This...more

Ballard Spahr LLP

Municipal Securities Regulation and Enforcement: 2023 Mid-Year Review

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2023 MID-YEAR REVIEW - In the first half of 2023, several rule changes have been proposed by the Municipal Securities Rulemaking Board (MSRB) and the U.S. Securities and Exchange Commission (SEC), including changes to...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: May 1, 2022

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The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

Pillsbury Winthrop Shaw Pittman LLP

Twelve Hours to Get It Right: The SEC Intensifies Its Focus on Cybersecurity

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The SEC’s recent enforcement actions, public statements and proposed rulemaking indicate that cybersecurity will be an area of heightened focus for the Gensler Commission. New proposed rules would require public companies...more

Hinshaw & Culbertson - Privacy, Cyber & AI...

Public Companies Must Accurately Disclose Material Cyber Breaches to Investors

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On August 16, 2021, the Securities and Exchange Commission (SEC) announced a $1 million settlement with Pearson plc (Pearson) in connection with a 2018 "cyber intrusion" that resulted in the theft of millions of student...more

King & Spalding

SEC Returns Spotlight to Cybersecurity Disclosure Enforcement

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On June 15, the Securities and Exchange Commission announced a settlement with First American Financial Corporation for what the SEC found were inadequate disclosure controls and procedural violations, revealed in connection...more

Holland & Knight LLP

SEC Issues First-Ever Penalties for Deficient Cybersecurity Risk Controls

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The U.S. Securities and Exchange Commission (SEC) has launched a stunning salvo across the bows of public companies with its announcement of civil monetary penalties and a cease-and-desist order against First American...more

Bracewell LLP

SEC Gets Cyber-Serious About Disclosures

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As cyberattacks continue to attract greater attention, the SEC has taken an additional step in its efforts to bring enforcement actions related to cyber disclosures. On June 14, the SEC announced settled charges against a...more

BCLP

Disclosure Controls and Procedures - Not Just a Quarterly Certification

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On June 15, 2021, the SEC announced that it had settled charges against First American Financial Corporation for failures in First American’s disclosure controls and procedures. Rule 13a-15(a) under the Exchange Act requires...more

Proskauer - Minding Your Business

Shareholder Seeks Second Look At Company Data Security Practices

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On November 25, 2020, a shareholder of First American Financial Corporation (“First American”) filed suit against the company and its officers and directors over a massive data security breach that exposed hundreds of...more

Proskauer - The Capital Commitment

The Top Ten Regulatory and Litigation Risks for Private Funds in 2019

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An increasingly sophisticated and active OCIE division, innovative market disruptors, a maturing credit cycle, and a philosophical change in how the private fund industry views and utilizes litigation are likely to lead to...more

Kilpatrick

Investment Management Regulation: Year in Review

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As we prepare for a new year of regulatory initiates and actions, we believe it is important to take inventory of the most significant regulatory events from the past year. True to its word, the SEC focused on reducing...more

Sheppard Mullin Richter & Hampton LLP

Fool Me Twice…SEC’s latest Cyber-Fraud ROI Indicates Future Enforcement Against Hacker Victims

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In the aftermath of the Securities and Exchange Commission’s (“SEC”) latest Report of Investigation (“Report”) regarding cyberattacks via “spoofed or manipulated electronic communications,” companies should prepare to adjust...more

Perkins Coie

SEC 21(a) Report Warns Public Company Email Scam Victims of Bigger Problems Than Stolen Money

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Known by many names, including business email compromise fraud, CEO or CFO fraud, impersonation attacks, or “Man-in-the-Email” scams, cyber-related frauds involving spoofed or otherwise compromised business electronic...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Investigative Report on Cybersecurity Emphasizes Internal Controls

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On October 16, 2018, the Securities and Exchange Commission (SEC) issued a Report of Investigation (Report) detailing an investigation by the SEC’s Enforcement Division into the internal accounting controls of nine issuers...more

Akin Gump Strauss Hauer & Feld LLP

SEC Warns Companies of Potential Internal Accounting Control Violations with Business Email Compromise

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• The SEC issued guidance in the form of a rare “21(a) report” this week after investigating a series of email frauds impacting 9 unnamed companies. • These email-based frauds, referred to as “CEO scams” or “vendor scams,”...more

Blank Rome LLP

The FinTech Revolution: How Data Breaches Can Result in Regulatory Enforcement Actions

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This is the fifth installment in a series of articles. For more background on this topic, please read our first article in the series, An Introduction to Financial Technology; our second article, The FinTech Revolution:...more

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