News & Analysis as of

Gramm-Leach-Blilely Act Investment Adviser

Orrick, Herrington & Sutcliffe LLP

SEC Amends Privacy Rule to Establish Data Breach Notification Standard

The Securities and Exchange Commission (SEC) has amended its privacy rule – Regulation S-P – to establish a federal minimum standard for covered institutions to notify affected individuals of a data breach....more

Davis Wright Tremaine LLP

SEC Adopts Amendments to Regulation S-P That Require Reporting Breaches of "Sensitive Customer Information"

On May 15, the Securities and Exchange Commission adopted amendments to Regulation S-P, which covers broker-dealers, registered investment advisors (RIAs), and investment companies (funds). These entities are now required to...more

Seward & Kissel LLP

FTC Imposes New Data Breach Notification Requirements

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On October 27, 2023, the Federal Trade Commission (the “FTC”) adopted a final rule (“Final Rule”) to amend the Standards for Safeguarding Customer Information (the “Safeguards Rule”). Among other things, the Final Rule will...more

Dechert LLP

SEC Proposes Robust Amendments to Regulation S-P

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At an open meeting on March 15, 2023, the U.S. Securities and Exchange Commission voted unanimously to propose rule amendments to Regulation S-P (Proposed Rule) and published an accompanying release (Release). The Proposed...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

SEC Proposes Three New Cybersecurity Rules To Enhance Consumer Protection And Market Security

On March 15, 2023, the United States Securities and Exchange Commission (SEC) took a major step towards strengthening cybersecurity in the financial sector by proposing three new rules. These rules aim to improve privacy,...more

Katten Muchin Rosenman LLP

December 9 Looms as Compliance Date for Private Investment Funds and Certain Investment Advisers to Comply With New Cybersecurity...

Additional Requirements to Go Into Effect June 9, 2023 - As we discussed in our March 3 Advisory, on October 27, 2021, the Federal Trade Commission (FTC) announced revisions (the 2021 Revisions) to its information...more

Dechert LLP

Dechert Cyber Bits - Issue 22

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SEC Chair Gensler Indicates Commission is Looking to Update SEC’s Regulation S-P - On September 28, 2022, Securities and Exchange Commission (“SEC” or the “Commission”) Chairman Gary Gensler appeared via video at the...more

Katten Muchin Rosenman LLP

What Private Fund Advisers and Regulated Entities Should Do About the California Consumer Privacy Act

With The California Consumer Privacy Act (CCPA) set to take effect on January 1, 2020, many firms that collect personal information will need to carefully consider whether the CCPA applies to them, whether they handle...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on FINRA's New Office of Financial Innovation and a Proposal From the...

BROKER-DEALER - OCIE Issues Risk Alert on Investment Adviser and Broker-Dealer Compliance Issues Related to Regulation S-P - On April 16, the Office of Compliance Inspections and Examinations (OCIE) of the Securities...more

Foley Hoag LLP

Amendment to the Annual Privacy Notice Delivery Obligations of Financial Institutions under the Gramm-Leach-Bliley Act contained...

Foley Hoag LLP on

On December 4, 2015, President Obama signed the Fixing America’s Surface Transportation Act (the ‘‘FAST Act’’) into law. Although the FAST Act’s main focus is on improving the country’s surface transportation infrastructure,...more

Alston & Bird

Cybersecurity Preparedness & Response Alert: Effective Cybersecurity: The Evolving Regulatory Landscape for Investment Advisers,...

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Cybersecurity has become a top concern for executives and boards across all sectors of commerce and critical infrastructure that rely on digital technologies—including financial services—and investment advisers, investment...more

Robinson+Cole Data Privacy + Security Insider

SEC brings first cybersecurity-related enforcement action

The Securities and Exchange Commission (“SEC”) recently settled its first cybersecurity-related enforcement action against a Missouri based registered investment adviser, R.T. Jones Capital Equities Management, Inc. (the ...more

Perkins Coie

SEC Relief For "M&A Brokers:" Not Required To Register As Broker-Dealers

Perkins Coie on

The Chief Counsel of the SEC’s Division of Trading and Markets recently issued an important no-enforcement letter regarding the status of a person engaged in effecting transactions in connection with the transfer of ownership...more

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