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SEC Issues Disclosure Guidance as Part of Continued Focus on Cybersecurity

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 active federal regulator in this arena. In September 2017, the SEC announced creation of a Cyber Unit housed within the SEC’s Enforcement Division that … Continue reading

SEC Issues Disclosure Guidance as Part of Continued Focus on Cybersecurity

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 active federal regulator in this arena. In September 2017, the SEC announced creation of a Cyber Unit housed within the SEC’s Enforcement Division that … Continue reading

NYS DFS September 4, 2018 Cybersecurity Compliance Deadline

Tuesday, September 4, 2018 marked the New York State Department for Financial Service’s deadline for compliance with several sections of cybersecurity regulation 23 NYCRR 500 (the “Regulation”).  The Regulation covers any organization that operates (or is required to operate) under a license, registration, charter, certificate, permit, accreditation, or similar authorization under the Banking Law (Title … Continue reading

Two Proposed Data Security Laws Reflect National Trend Toward Affirmative Responsibilities

With major consumer data breaches making headlines on a semi-regular basis, legislators around the country are starting to hold businesses more accountable for cybersecurity compliance.  Industry-specific laws such as HIPAA and the Gramm-Leach-Bliley Act (GLBA) already establish federal data security standards for some companies, and the Federal Trade Commission has taken the position that failure … Continue reading

Two Proposed Data Security Laws Reflect National Trend Toward Affirmative Responsibilities

With major consumer data breaches making headlines on a semi-regular basis, legislators around the country are starting to hold businesses more accountable for cybersecurity compliance.  Industry-specific laws such as HIPAA and the Gramm-Leach-Bliley Act (GLBA) already establish federal data security standards for some companies, and the Federal Trade Commission has taken the position that failure … Continue reading

Energy Industry Target of Cyber-Attacks and Congressional Efforts to Bolster Security

Cybersecurity of the electric power grid and energy sector as a whole has been the subject of heightened Congressional attention given the integral role the industry plays in our economy. According to a 2015 U.S. Senate committee report, nearly one-third of reported cyber-attacks involve the energy sector. Not surprisingly, the 114th Congress (2015-2016) has introduced … Continue reading

Federal Cybersecurity Legislation Moving Quickly, But Is It In the Wrong Direction?

By:  Marcus Lee and Omari Sealy Federal cybersecurity legislation seeking to establish a national standard for data protection and breach response is quickly working its way through the legislative process.  The bipartisan bill, formerly known as the Data Security And Breach Notification Act of 2015 (hereafter “cybersecurity bill”), was introduced into the U.S. Senate on April … Continue reading »

An Early Christmas Present for Consumers? Court Rules that Retailers Can Be Liable to Banks Arising from Data Breaches.

by Privacy & Data Security Members Karin McGinnis & Robert Sumner Cyber-Monday sales weren’t the only good thing that happened for consumers this week.  Later in the week a federal judge in Minnesota thwarted Target’s attempt to dismiss a lawsuit brought by banks and credit unions arising out of the massive data breach last year.  … Continue reading »

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Apple Strengthens Privacy Protections

Apple recently changed its privacy policy which has made headlines – it will no longer unlock iPhones and iPads for law enforcement.  Prior to this change, Apple would assist law enforcement in unlocking Apple devices when presented with a valid subpoena or court order. According to Apple’s CEO, Tim Cook, the company attempts to avoid … Continue reading »

Social Media Password Protection: Where are we now?

In just two years, social media password protection has gone from a privacy advocate’s dream to an employer’s harsh reality in many states.  Maryland became the first state (in 2012) to enact legislation that prevented employers from requesting the user names or passwords to an employee’s or applicant’s personal social media accounts.  Three states quickly … Continue reading »

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