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 →
Archives for Cyber Security
SEC Issues Disclosure Guidance as Part of Continued Focus on Cybersecurity
category: Cyber Security
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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 →
category: Cyber Security
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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 →
category: Cyber Security
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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 →
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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 →
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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 →
category: Chris Smith, Cyber Security, Cybersecurity, Energy, H.R. 8, Iroquois, Legislative Updates, Marcellus, Privacy, Reverse Flow, S. 2012, U.S. House, U.S. Senate
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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 »
category: Cyber Security, Data Breach
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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 »
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