The Federal Trade Commission (FTC) issued a surprisingly strong warning to companies that they may face potential regulatory action if they fail to address known vulnerabilities, focusing in particular on the Log4j...more
-The DOJ has announced charges against four members of China’s military related to the 2017 cyberattack on credit-reporting agency Equifax, the breach that revealed “trade secrets and the personal data of about 145 million...more
Ford announced major cuts to its European workforce yesterday, announcing that it would reduce its overall headcount there by 1/5 (or about 12,000 workers), roughly half of whom are salaried employees. Ford first revealed the...more
On July 1, 2015, the SEC issued proposed rules implementing Section 954 of the Dodd-Frank Act, which would obligate national securities exchanges to adopt listing standards that require listed companies to adopt and disclose...more
In this month's Privacy & Cybersecurity Update, we examine several recent U.K.-related cybersecurity developments and the SEC's risk alert reminding investment advisers and broker-dealers to follow through on implementing...more
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
A recap of Friday’s GDP numbers, which featured both a strong 3.5% growth rate and early signs that “the growth could cool in coming months”...more
The Situation: Despite Equifax's use of a cover story to keep employees from learning it was the victim of a serious data breach, a then-employee allegedly figured it out and made illegal securities trades based on the...more
Earlier this year, the SEC released cybersecurity guidance addressing, among other things, the risk of insider trading in the event of a data breach. This risk comes in multiple forms, including the intruders trading on...more
The Securities and Exchange Commission (the “SEC”) announced Tuesday that Altaba, the entity formerly known as Yahoo! Inc., has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to...more
Editor's Note - Appointments Clause Revisited. As we noted in a previous edition of the Roundup, Raymond Lucia was fined and barred from the industry by the Securities and Exchange Commission (SEC) for material...more
On March 14, 2018, the SEC and DOJ sued Jun Ying, a former Chief Information Officer within an Equifax Inc. business unit, for insider trading. Specifically, they accused him of knowing about a significant Equifax data breach...more
Cyber attacks continue to be a pervasive and destructive threat to all institutions and the legal and regulatory landscape currently in place to address those threats continues be reshaped in an effort to address those...more
In what appears to be the first insider trading case stemming from insider knowledge of material nonpublic cyber-related information, the Securities and Exchange Commission brought civil charges against a former Equifax...more
The Equifax hack has taken another twist – one that raises questions that every public company should consider....more
On March 14, 2018, the Securities and Exchange Commission (SEC) charged a chief information officer (CIO) for a US business division of Equifax with insider trading in advance of Equifax’s September 2017 disclosure of the...more
There’s falling from grace, and then there’s Elizabeth Holmes. Once compared glowingly to Steve Jobs, Holmes’ well-documented Theranos ills (including exaggerated and faked blood-test results) have landed her with SEC...more
Holmes was one of the most famous women to come out of Silicon Valley. She founded Theranos, hyped the fraudulent blood testing scam and became for a short time a billionaire. Now all of that is gone, gone, gone. ...more
UNITED STATES - Regulatory—Policy, Best Practices, and Standards - United States and China Renew Promise Not to Hack - On October 4, U.S. and Chinese officials agreed to not engage in targeted hacking. Per a...more
AT&T’s chief is weighing in the DOJ’s call to sell CNN in order to make its deal with Time Warner go through, and, as Randall sees it, “selling CNN makes no sense”....more
Most insiders are chalking up last week’s CVS/Aetna news to a recent Amazon push into the pharma world. The Journal breaks down exactly what that means—both for the industry and for Amazon, which faces a series of challenges...more
The Peltz/P&G drama continues, with the company suggesting that Trian has lost its bid for a Board seat and the fund arguing that it disagrees with the company’s counting of the ballots....more
The Importance of Detection Once the Enemy Is Past the Gates - The recently announced data breaches involving Equifax, Deloitte and the U.S. Securities and Exchange Commission underscore that data breaches are a way of...more
Equifax CEO Richard F. Smith is out as the fallout continues from the massive cyberbreach of the consumer credit reporting agency that exposed the personal information of as many as 143 million people....more
As we start the new week, a recap of major cybersecurity developments: Equifax CEO Faces Senate Committee – Senate staffers are busy readying cross examination scripts for the testimony next week of Equifax Inc. Chief...more