News & Analysis as of

Data Security Securities and Exchange Commission (SEC) Hackers

Sheppard Mullin Richter & Hampton LLP

SEC Continues its Cybersecurity Focus, Settles with Company over Lax Security Measures

The SEC recently issued an order and settlement against a company from a pair of cyberattacks in which millions of dollars of client funds were stolen. While the company was able to recover a portion of the funds and...more

Woodruff Sawyer

The New Hacker Playbook: Weaponizing the SEC’s Cyber Disclosure Rules

Woodruff Sawyer on

Hackers are now weaponizing the SEC’s cyber disclosure rules as a new way to pressure corporations. You may recall that the Securities and Exchange Commission has new rules for timely disclosure of cyberattacks. One major...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - January 2024 #2

Robinson & Cole LLP on

CYBERSECURITY - SEC’s Hacked X Account Leads to Tumultuous Bitcoin Market - The Securities and Exchange Commission has confirmed that its X account “was compromised, and an unauthorized post was posted.” The SEC...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

Jones Day

Federal Court Grants the SEC Limited Access to the Identities of Law Firm Clients Impacted by a Cyberattack

Jones Day on

In Short - The Situation: Following a cyberattack on a law firm's systems, the Securities and Exchange Commission ("SEC") subpoenaed the firm for information, including the identity of clients whose information may have...more

Brownstein Hyatt Farber Schreck

SEC Releases Aggressive New Cybersecurity Disclosure Requirements

“Material Cybersecurity Incident” Standard Will Have a Monumental Impact on Current Cyber Disclosure Requirements - On July 26, 2023, the U.S. Securities and Exchange Commission (SEC) adopted the Cybersecurity Risk...more

A&O Shearman

SEC Mandates New Cybersecurity Disclosures

A&O Shearman on

On July 26, 2023, the SEC adopted final rules that require public companies to promptly disclose material cybersecurity incidents on Form 8-K and detailed information regarding their cybersecurity risk management and...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - July 2023 - #3

Robinson & Cole LLP on

CYBERSECURITY - SEC Adopts New Cybersecurity Rules for Public Companies - In a 3-2 vote, the Securities and Exchange Commission (SEC) adopted new cybersecurity rules yesterday (July 26, 2023) applicable to public...more

Mintz - Privacy & Cybersecurity Viewpoints

“Ding Dong” -- FTC-Drizly Data Breach Settlement Will follow CEO Personally for a Decade

The Federal Trade Commission (“FTC”) announced on Monday that it is settling a case against Drizly and its CEO stemming from a 2020 data breach that impacted roughly 2.5 million consumers. The proposed order not only...more

Holland & Knight LLP

2021: Year In Review - SEC Signals More Aggressive Posture in Cybersecurity Space

Holland & Knight LLP on

We continue our year-end review of SEC enforcement activity and turn our attention to a topic grabbing seemingly daily headlines across multiple industries: cybersecurity. As the risks – and realities – of cyberattacks...more

Brownstein Hyatt Farber Schreck

When Should a Public Company Disclose a PCI Breach?

As companies collect growing amounts of data about their customers and other consumers, sophisticated adversaries, recognizing the value of this information, have increased their efforts to pilfer it. For publicly traded...more

Proskauer - Corporate Defense and Disputes

SolarWinds Government Data Breach Leads to Securities Action

The massive data breach of the United States Commerce and Treasury Departments that has roiled the federal government has resulted in federal securities litigation. On January 4, 2021, Plaintiff-Shareholder Timothy Bremer...more

NAVEX

3 Coronavirus Compliance Tips From the SEC

NAVEX on

The coronavirus crisis is far from over, and compliance professionals still need every scrap of guidance that regulators can provide about how to run compliance programs in these difficult times. So when the Securities and...more

Burr & Forman

Cyber Still Atop Exam Priorities

Burr & Forman on

FINRA held its bi-annual Cybersecurity Conference in January and recently published five take-away real-world experiences from the conference...more

Patterson Belknap Webb & Tyler LLP

SEC Cyber Briefing: Enforcement Expectations for 2019

In our second installment of a three-part series, we look at the U.S. Securities and Exchange Commission’s cyber-related enforcement actions in 2018....more

Sheppard Mullin Richter & Hampton LLP

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

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

Mayer Brown Free Writings + Perspectives

Cybersecurity and Board Oversight

In a recent speech, SEC Commissioner Kara Stein commented on the importance of cybersecurity. The Commissioner noted that encouraging adoption of written policies and procedures, voluntary frameworks and non-binding guidance...more

Moore & Van Allen PLLC

SEC Issues Disclosure Guidance as Part of Continued Focus on Cybersecurity

Moore & Van Allen PLLC on

As cybersecurity attacks have continued to gain prominence as a threat posing critical risk management and compliance challenges for financial institutions, the Securities and Exchange Commission (SEC) has emerged as an...more

Moore & Van Allen PLLC

SEC Releases Interpretive Guidance on Cybersecurity Risk and Incident Disclosures

Moore & Van Allen PLLC on

On Feb. 22, 2018, the Securities and Exchange Commission (SEC) issued its first interpretive guidance since October 2011 on public companies’ cybersecurity risk and incident disclosure obligations. ...more

Orrick, Herrington & Sutcliffe LLP

SEC Commissioners Provide Guidance on Cybersecurity Disclosures After Wave of Record Incidents

The Commission's "new" cybersecurity guidance largely rehashes existing guidance, as is highlighted by objections from two commissioners. At most, the additional qualitative guidance is incremental. It reiterates the need to...more

Stinson - Corporate & Securities Law Blog

SEC Cybersecurity Disclosure and Controls Checklist

In February 2018 the SEC outlined its views with respect to cybersecurity disclosure requirements under the federal securities laws as they apply to public reporting companies. Set forth below is a checklist of items included...more

Kramer Levin Naftalis & Frankel LLP

SEC Guidance Focuses on Cybersecurity Procedures and Disclosure Issues

On Feb. 21, the Securities and Exchange Commission (SEC) released interpretive guidance on public companies’ disclosure practices regarding cybersecurity breaches and risks to the public....more

Fenwick & West LLP

SEC Releases Updated Cybersecurity Guidance

Fenwick & West LLP on

The U.S. Securities and Exchange Commission on Feb. 21, 2018, issued interpretive guidance on public company cybersecurity disclosures. The new guidance will affect public companies and companies seeking to go public in...more

Ballard Spahr LLP

SEC Releases Guidance on Cybersecurity Disclosures

Ballard Spahr LLP on

In light of the increasing significance of cybersecurity incidents, and their potential impact on a company's operations, on February 21, the Securities and Exchange Commission (SEC) issued guidance to public reporting...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - May 2017

In this edition of our Privacy and Cybersecurity Update, we take a look at the Trump administration's executive order outlining its cybersecurity plans, Acting FTC Chairwoman Maureen Ohlhausen's comments on the possible...more

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