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Troutman Pepper

Restrictions on Paying a Ransom Demand - Dear Mary – Incidents + Investigations Cybersecurity Advice Column

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“Dear Mary” is Troutman Pepper’s Incidents + Investigations team’s advice column. Here, you will find Mary’s answers to questions about anything and everything cyber-related — data breaches, forensic investigations, how to...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 31: The Road Ahead for Financial Services Data Privacy Regulation

Orrick Partner Beth McGinn joins RegFi co-hosts Jerry Buckley and Sasha Leonhardt for our second episode focused on the proposed American Privacy Rights Act and its potential impact on the financial services industry. Beth...more

Wilson Sonsini Goodrich & Rosati

Cybersecurity: What to Watch for in 2024

In 2024, businesses will continue to face an evolving landscape of cyber threats, along with an increasingly complex regulatory environment. With heightened scrutiny from regulators, consumers, and investors, the need to...more

Latham & Watkins LLP

New York Bolsters Cybersecurity Requirements

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Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting. The New York State Department of Financial Services’ (DFS) amendments (the...more

Epstein Becker & Green

The FTC Amends Safeguards Rule to Require Non-Banking Financial Institutions to Disclose Certain Security and Data Breaches

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On October 27, 2023, the Federal Trade Commission (“FTC”) approved an amendment to the Safeguards Rule that requires non-banking financial institutions (e.g., mortgage companies, mortgage brokers, and creditors) to notify the...more

Morgan Lewis - Tech & Sourcing

FTC Amends Safeguards Rule

The Federal Trade Commission (FTC) recently adopted a final rule amending its Standards for Safeguarding Customer Information (commonly referred to as the “Safeguards Rule”) to require financial institutions to report certain...more

Venable LLP

Data Breach Notice Requirement Added to Safeguards Rule for Non-bank Financial Institutions

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Non-bank financial institutions will have a new data breach disclosure requirement effective May 13, 2024. The Federal Trade Commission (FTC) recently updated the Gramm-Leach-Bliley Safeguards Rule (“Safeguards Rule”), adding...more

Katten Muchin Rosenman LLP

Privacy, Data and Cybersecurity Quick Clicks | Issue 11

Katten's Privacy, Data and Cybersecurity Quick Clicks is a monthly newsletter highlighting the latest news and legal developments involving privacy, data and cybersecurity issues across the globe....more

Constangy, Brooks, Smith & Prophete, LLP

FTC Non-Banking Financial Institutions Safeguards Rule

The Federal Trade Commission has approved an amendment to the Safeguards Rule under the Gramm-Leach-Bliley Act that creates a new data privacy regulatory reporting requirement for non-banking financial entities. Covered...more

Jones Day

FTC Requires Non-Bank Financial Institutions to Report Data Security Breaches Under Amended Safeguards Rule

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On Friday, October 27, the Federal Trade Commission ("FTC") announced new amendments to the Safeguards Rule, requiring covered financial institutions to report certain data breaches to the FTC and reflecting its continuing...more

Katten Muchin Rosenman LLP

New FTC Rule Requires Certain Financial Institutions to Report Loss of Unencrypted Customer Data

On October 27, the Federal Trade Commission (FTC or Commission) published a final rule expanding data breach notification requirements for certain financial institutions (Final Rule). Federal Register, will require entities...more

Ballard Spahr LLP

FTC Announces New Safeguards Rule Breach Notification Requirements

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On October 27, the Federal Trade Commission (“FTC”) unanimously voted to amend the Safeguards Rule to require non-banking financial institutions to report data breaches and security events to the Agency. This amendment will...more

Pillsbury Winthrop Shaw Pittman LLP

Upcoming EU Rules on Digital Operational Resilience

There will be additional compliance obligations and mandatory contractual provisions introduced for financial entities and outsourced IT service providers. The new DORA seeks to strengthen the resilience of financial...more

Orrick, Herrington & Sutcliffe LLP

U.S. Privacy Regulation: What’s Next for Financial Institutions?

The privacy legal and regulatory landscape is changing quickly in the United States – particularly for financial institutions, which hold significant volumes of consumer data and are already subject to a complicated universe...more

J.S. Held

Top 4 Cybersecurity Headaches Plaguing Financial Services Institutions

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Most Financial Services Institutions (FSIs) have digital technology at their core. And a primary responsibility for most FSIs is “cyber-connect” customers – be they organizations or individuals – with their money simply and...more

Orrick, Herrington & Sutcliffe LLP

FSB: Greater convergence needed in cyber-incident reporting

On April 13, the Financial Stability Board (FSB) released a series of recommendations for achieving “greater convergence” in cyber-incident reporting (CIR). Issued at the request of the G-20, the final report draws from FSB’s...more

J.S. Held

Off-Channel Communications: How Financial Services Organizations Can Address Regulators’ Latest Target

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As a number of recent headlines demonstrate, the U.S. Securities and Exchange Commission (SEC) and other regulators have fined and penalized employers and employees in the financial services industry for non-compliance with...more

Holland & Knight LLP

La SFC publica proyecto de norma sobre la realización de operaciones con código QR en Colombia

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La Superintendencia Financiera de Colombia (SFC) publicó para comentarios el Proyecto de Norma No. 03 de 2023, mediante el cual pretende impartir instrucciones con el objetivo de promover la realización de operaciones que...more

BakerHostetler

Top 10 Compliance Points for New FTC Safeguards Rule

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Under the updated Rule, FIs are obligated to implement data security measures that will protect against data breaches and cyberattacks in order to prevent financial harm to consumers, including identity theft and loss of...more

Alston & Bird

FTC Delays Effective Date of Certain Changes to the Safeguard Rule

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On November 15, 2022, the Federal Trade Commission (FTC) announced that it is delaying the effective date of certain changes to the Gramm–Leach–Bliley Safeguards Rule. The Safeguards Rule, which first became operative in...more

Ballard Spahr LLP

FTC Extends Deadline by Six Months for Updated Safeguards Rule

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On November 15, 2022, the FTC announced that it was extending by six months the deadline for companies to comply with some portions of the updated Safeguards Rule. The extension comes as a welcome relief to companies racing...more

Shutts & Bowen LLP

Changes to GLBA Safeguards Rule Affect More Than Traditional Financial Institutes

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The Gramm-Leach-Bliley Act (“GLBA”) was a bi-partisan regulation passed by Congress in 1999 in an attempt to update and modernize the financial industry. One component of the GLBA, its Safeguards Rule, requires financial...more

Davis Wright Tremaine LLP

CFPB Takes on Failure to Adopt "Common Data Security Practices"

A reminder to financial services firms: the Consumer Financial Protection Bureau (CFPB) is also a data security regulator....more

Spilman Thomas & Battle, PLLC

Decoded - Technology Law Insights, Volume 3, Issue 17

CFPB Takes Action to Protect the Public from Shoddy Data Security Practices "The bureau said the circular does not suggest that particular security practices are specifically required under the Consumer Financial...more

Troutman Pepper

CFPB Turns Its Attention to Data Security

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On August 11, the Consumer Financial Protection Bureau (CFPB) published a circular, answering the question “Can entities violate the prohibition on unfair acts or practices in the Consumer Financial Protection Act (CFPA) when...more

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