News & Analysis as of

Financial Security Management Act

Ohio Proposes Act to Incentivize Consumer Data Security

by Benesch on

Legislation was recently introduced in Ohio encouraging businesses to take steps in protecting consumer data. Ohio Senate Bill 220, The Data Protection Act (the “Act”), provides businesses that take certain commercially...more

McDowell v. CGI Federal Inc.: A Stark Reminder to Government Contractors of their Cybersecurity Obligations

by Hogan Lovells on

On June 1, 2017, the United States District Court for the District of Columbia issued a decision in a class action lawsuit, McDowell v. CGI Federal Inc., Civ. Action No. 15-1157 (GK) (D.D.C. 2017), which could have...more

A Review of the OMB Guidelines Issued to Federal Agencies for Reporting Requirements to Congress That Redefined What Constitutes a...

by Nossaman LLP on

With the growing threat of cyberattacks, we thought it would be worthwhile to discuss a late 2016 change in reporting requirements for federal agencies that have suffered a data breach. The Office of Management and Budget’s...more

Top cybersecurity developments in 2017 for ADG companies

by Hogan Lovells on

While all companies should be concerned with their cybersecurity posture, companies in the aerospace, defense, and government services (ADG) industry are potentially subject to greater risks due to the industry's highly...more

OMB Publishes Report On Cybersecurity In 2016

by King & Spalding on

On March 10, 2017, the Office of Management and Budget (“OMB”) released its annual report to Congress under the Federal Information Security Modernization Act of 2014. The report compiles fiscal year 2016 information from...more

"Privacy & Cybersecurity Update - March 2017"

In this edition of our Privacy & Cybersecurity Update, we discuss the Congressional vote to repeal the FCC Privacy Rule, new cybersecurity developments from the Trump administration and the FTC's new guidance to companies on...more

OMB Claims Federal Progress on FISMA in 2016 But Much Work Remains

Earlier this week, the White House Office of Management and Budget (“OMB”) issued its 2016 Federal Information Security Modernization Act (“FISMA”) Annual Report. FISMA (last amended 2014) charges OMB with tracking the extent...more

OMB Submits FISMA Annual Report for 2016

by Balch & Bingham LLP on

On March 10, 2017, the White House Office of Management and Budget (“OMB”) released its 2016 Federal Information Security Modernization Act (“FISMA”) Annual Report to Congress. The FISMA Report describes the current state of...more

OMB Issues Guidelines for Preparing for and Responding to PII Breaches

by Morgan Lewis on

On January 3, the Office of Management and Budget (OMB) issued Memorandum M-17-12, which clarifies how federal agencies should prepare for and respond to data security breaches involving personally identifiable information...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Prohibition on Dealing or Investing in Industrial or Commercial Metals - On January 3, 2017, the Office of the Comptroller of the Currency (the "OCC") finalized a rule that...more

Alert: Congressional Hearings and NIST Publication Continue Focus on IoT Security

by Cooley LLP on

Two actions in the past few weeks reflect the continuing government involvement in and concern over the security of Internet of Things (IoT) devices. Attacks using connected devices have highlighted security vulnerabilities...more

IRS Data Breach Class Action Dismissed

by Nossaman LLP on

Last week, the Internal Revenue Service successfully defeated a putative class action related to a data breach it suffered in 2015. The D.C. District Court’s decision dismissing the suit demonstrates the high bar required to...more

Major Security Breach Reported to Congress By Federal Bank Regulator

by Nossaman LLP on

Recently, the Office of the Comptroller of the Currency (OCC) informed Congress that it had suffered a major information security incident. The agency reported that, in November 2015, a former employee downloaded over...more

GAO Tackles Cybersecurity

In two recent decisions, GAO denied protest grounds challenging the ability of contract awardees to satisfy government requirements related to cybersecurity. This posting analyzes those decisions and their implications for...more

UK Financial Regulatory Developments - May 2016 #14

by Dentons on

Reference rates group reports - The Working Group on Sterling Risk-Free Reference Rates (RFR) has published an interim report and work plan. It is focusing on: - finalising the process to be followed for the RFR...more

Government Contractors Brace For Continuing Changes in Cybersecurity Regulations

The federal government has responded to recent data breaches by making cybersecurity a top priority, and it continues to consider and implement a number of regulations that affect government contractors. Over the past...more

Under the Thumb: Regulatory Compliance When Outsourcing Cybersecurity Management

Managed security services are often a natural “add-on” when outsourcing IT services given that data protection is integral to application development, software as a service, and cloud storage, among other services. More...more

Also In The News - Health Headlines - August 2015 #2

by King & Spalding on

House Report Highlights Cybersecurity Concerns At The Department Of Health and Human Services – The U.S. House of Representatives Committee on Energy and Commerce released a report revealing that five operating divisions at...more

OIG identifies information security deficiencies in CFPB’s DT Complaint Database

by Ballard Spahr LLP on

The Office of Inspector General (OIG) for the Fed and CFPB recently completed its review of the information system security controls for the CFPB’s Data Team (DT) Complaint Database. The DT Complaint Database supports the...more

Weekly Update Newsletter - April 2015 #2

by PilieroMazza PLLC on

GOVERNMENT CONTRACTS - NIST Issues Draft Requirements, Protecting Controlled Unclassified Information in Nonfederal Information Systems and Organizations - The National Institute of Standards and Technology...more

OIG updates project completion dates and completes audit of CFPB’s Tableau system

by Ballard Spahr LLP on

In its work plan updated as of March 27, 2015, the Office of Inspector General (OIG) has moved back the estimated completion dates of several ongoing projects previously estimated to be completed in the first quarter of...more

A New Cyber World Framework to Strengthen Agency Information Security

by Foley & Lardner LLP on

Manufacturers, defense suppliers and other federal contractors may benefit from a new cybersecurity law intended to safeguard agency information and help bolster defenses to future cyber threats. The Federal Information...more

FISMA II: A New Cyber World Framework to Strengthen Agency Information Security

by Foley & Lardner LLP on

As part of the Obama administration’s legislative efforts to safeguard government agency information, the Federal Information Security Modernization Act of 2014 (FISMA II) was recently enacted to fortify and update its 2002...more

Two New Laws Give DHS Increased Cybersecurity Authority

by Cozen O'Connor on

Two recently enacted laws give the Department of Homeland Security (DHS) increased authority and ability to contain cybersecurity threats and breaches. Congress passed both the Federal Information Security Modernization Act...more

Congress Confirms NIST’s Role in Cybersecurity – and the Continuation of the Cybersecurity Framework

by Davis Wright Tremaine LLP on

The Cybersecurity Enhancement Act of 2014 (CEA) was passed by the House and the Senate on December 11th, and signed by the President on the 18th. The bill formalizes the role of the National Institute for Standards and...more

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Cybersecurity

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