News & Analysis as of

Data Breach Cybersecurity Retirement Plan

Carlton Fields

SEC Commissioners on the Hunt for Materiality: Disagree on Cybersecurity Enforcement Actions

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On October 22, 2024, Republican SEC Commissioners Hester Peirce and Mark Uyeda issued a joint dissent sharply criticizing charges brought against four companies for allegedly making materially misleading disclosures regarding...more

Jackson Lewis P.C.

2024 Wrap-Up of the Workplace Privacy, Data Management & Security Report

Jackson Lewis P.C. on

As the year comes to a close here are some of the highlights from the Workplace Privacy, Data Management & Security Report with our most popular topics and posts from 2024. Expanding State Privacy Laws- This year saw a...more

Foster Swift Collins & Smith

DOL Echoes Employee Benefits and Cybersecurity Best Practices

On April 14, 2021, the U.S. Department of Labor’s (“DOL”) Employee Benefits Security Administration (“EBSA”) issued its first cybersecurity best practices guidance for retirement plans. The EBSA guidance was highly...more

Mayer Brown

TPR Report: Key Steps Trustees Should Take if a Cyber Security Incident Occurs

Mayer Brown on

The Pensions Regulator (TPR) has published a regulatory intervention report outlining how they worked with Capita following a cyber incident last year (see our legal update), and detailing the key steps trustees should take...more

Carlton Fields

Preparing for 2024: Encore to 2023’s Cyber and Privacy Extravaganza

Carlton Fields on

Step right up as we discuss some of 2023’s most notable cybersecurity and privacy regulatory and litigation developments and tips for keeping your program flying high. Regulatory Activity New regulatory requirements now in...more

Robinson+Cole Data Privacy + Security Insider

Alight Solutions Must Comply with Subpoena Issued by DOL in Cybersecurity Incident Investigation

A subpoena was issued to Alight Solutions by the U.S. Department of Labor (DOL) for documents related to a cybersecurity breach that potentially resulted in Employee Retirement Income Security Act (ERISA) violations. Alight...more

Jackson Lewis P.C.

SEC to Advisors and Funds – Adopt and Implement Cybersecurity Policies and Procedures

Jackson Lewis P.C. on

On February 9, the Securities and Exchange Commission (“SEC”) voted to propose rule 206(4)-9 under the Advisers Act and 38a-2 under the Investment Company Act (collectively, “Proposed Rule”). In general, the Proposed Rule...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Tips for Complying with DOL's Retirement Plan Cybersecurity Guidance

”Not if, but when" is a phrase commonly used to describe data breach risk. Holding just under $11 trillion in assets, employer-sponsored retirement plans are a particularly enticing target for cybercriminals. Through audits...more

Davis Wright Tremaine LLP

Department of Labor Announces Cybersecurity Guidance for ERISA Retirement Plans

The Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) recently announced its first cybersecurity guidance for retirement plans subject to the Employee Retirement Income Security Act of...more

Faegre Drinker Biddle & Reath LLP

Cybersecurity: A Plan Sponsor Obligation

A recently filed lawsuit against a trust company serving as a 401(k) plan trustee, the second of its kind in the last few months, highlights the need for plan sponsor diligence in protecting participant data and accounts in...more

Jackson Lewis P.C.

Personal Data From Thousands Of Pension Plan Accounts Breached…Third-Party Service Provider Blamed

Jackson Lewis P.C. on

One of the last things pension plan participants would want to learn as they get ready to celebrate the Christmas holiday is that personal data from their pension accounts may have been compromised. This is the case,...more

Akerman LLP - HR Defense

BOLO: Cyber Attacks Against Retirement Plan Accounts

Employer-sponsored retirement plans have long been targets for cybercriminals. Employers should be on the lookout as the COVID-19 pandemic has expanded the types and likelihood of potential cyber attacks against retirement...more

Morgan Lewis

Retirement Plan Cybersecurity: Don't Assume Outsourced Administration Is Duty Free

Morgan Lewis on

For years, there has been a persistent trend toward outsourcing retirement plan recordkeeping and other administrative responsibilities. Although historically more prevalent for defined contribution plans, this outsourcing...more

Jackson Lewis P.C.

Could This Be Your Retirement Plan?

Jackson Lewis P.C. on

As reported by CBC, B.C. Pension Corporation announced a data breach involving pension plan records after discovering a box containing microfiche could not be found following a recent office move. The box contained personal...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - December 2018 #2

Robinson & Cole LLP on

A report released by cybersecurity firm Agari has come to conclusion that we have been experiencing all year—a hacking group in Nigeria, dubbed “London Blue,” is targeting CFOs and controllers from small businesses to...more

Foley & Lardner LLP

Cybersecurity Risks to Employee Benefit Plans - Are You Prepared?

Foley & Lardner LLP on

Unless you’ve been living on a remote mountaintop or inside a cave for the past 10 years, chances are good you’ve either been affected by a cybersecurity breach or know someone who has. Among many other businesses, recent...more

Jones Day

Data Breach Risks for 401(k) and Retirement Plans

Jones Day on

There has been a recent spike in attacks on 401(k) and retirement plans by cyber criminals. Some have been reported publicly, and we are aware of several nonpublic incidents as well....more

McGuireWoods LLP

Retirement Plans Incur Data Breaches; ERISA Council Addresses Cyber Risks

McGuireWoods LLP on

Until relatively recently, retirement plans have not made the news as targets of data breaches. This is somewhat surprising, given the wealth of participants’ personal data stored online by these plans. This past summer,...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

So, it turns out that all of the Brexit-style market freefalling was reserved for overnight trading. US markets actually closed up yesterday after modest opening losses....more

Akerman LLP

SEC Settles Charges Against Investment Firm that Failed to Adopt Cybersecurity Policies Before Data Breach

Akerman LLP on

Recently, the SEC announced that R.T. Jones Capital Equities Management, a St. Louis-based investment adviser, agreed to settle charges that it failed to establish the required cybersecurity policies and procedures before a...more

Carlton Fields

Investment Adviser Settles SEC Charges After Data Breach

Carlton Fields on

Last week, the Securities and Exchange Commission (SEC) settled charges against a registered investment adviser for failing to comply with Rule 30(a) of Regulation S-P (17 C.F.R. § 248.30(a)) (“Safeguards Rule”). The...more

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