Four Companies Settle SEC Allegations for “Misleading Cyber Disclosures” Regarding SolarWinds -
On October 22, 2024, the Securities and Exchange Commission (“SEC”) announced settlements with four companies for alleged...more
11/8/2024
/ Artificial Intelligence ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Cybersecurity ,
Disclosure Requirements ,
European Commission ,
Final Rules ,
Notice of Proposed Rulemaking (NOPR) ,
NYDFS ,
Public Disclosure ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Settlement ,
Social Engineering ,
Social Networks ,
SolarWinds ,
UK
Happy 3rd Anniversary to Dechert's Cyber Bits! As we celebrate our 3rd year anniversary, we want to thank you for your support in making our publication a huge success. Thank you to the entire Cyber Bits team, who work...more
10/25/2024
/ Advertising ,
Consent Decrees ,
Court of Justice of the European Union (CJEU) ,
Cybersecurity ,
Data Security ,
et al v. FCC ,
European Data Protection Board (EDPB) ,
Federal Trade Commission (FTC) ,
General Data Protection Regulation (GDPR) ,
Information Commissioner's Office (ICO) ,
Settlement ,
UK ,
UK Data Protection Act
SEC Issues New Guidance as to 8-K Disclosures Relating to Cybersecurity Incidents -
On June 27, 2024, the U.S. Securities and Exchange Commission (the “SEC”) issued new guidance on the agency’s guidelines for cybersecurity...more
7/19/2024
/ Artificial Intelligence ,
Bots ,
California Consumer Privacy Act (CCPA) ,
COPPA ,
Cybersecurity ,
Department of Health and Human Services (HHS) ,
Disclosure Requirements ,
Healthcare ,
Online Safety for Children ,
Ransomware ,
Securities and Exchange Commission (SEC) ,
Settlement ,
Tracking Systems ,
UK ,
Websites
FTC Announces Proposed Settlement with Software Provider to Settle Allegations that its Inadequate Security Safeguards Led to Cyberattack -
On February 1, 2024, the Federal Trade Commission (“FTC”) announced a proposed...more
President Biden’s recent Executive Order on Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence:
Establishes a federal government-wide effort to mitigate risks of improper AI development and use....more
12/21/2023
/ Artificial Intelligence ,
Biden Administration ,
Consumer Protection Laws ,
Cybersecurity ,
Data Privacy ,
Executive Orders ,
Financial Institutions ,
Financial Services Industry ,
Machine Learning ,
National Security ,
New Guidance ,
NIST ,
Personal Data ,
Reporting Requirements ,
Risk Mitigation ,
Securities and Exchange Commission (SEC)
California Court Pauses Enforcement of Most Recent CCPA Regulations until March 2024 -
On June 30, 2023, the Superior Court of California, County of Sacramento (California Chamber Of Commerce v. California Privacy...more
7/21/2023
/ Biden Administration ,
California ,
California Consumer Privacy Act (CCPA) ,
Cross-Border ,
Cybersecurity ,
Data Privacy ,
Enforcement ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
General Data Protection Regulation (GDPR) ,
NYDFS ,
Presidential Nominations ,
Privacy Framework ,
Proposed Regulation ,
Regulatory Agenda
At an open meeting on March 15, 2023, the U.S. Securities and Exchange Commission voted three to two to propose a new rule, form and amendments (together, “Proposed Rule”) and published an accompanying release (“Release”)...more
5/11/2023
/ Cybersecurity ,
Disclosure Requirements ,
Incident Response Plans ,
MSBSPs ,
New Rules ,
Policies and Procedures ,
Popular ,
Recordkeeping Requirements ,
Risk Assessment ,
Risk Management ,
SBSD ,
Securities and Exchange Commission (SEC)
Proposed EU-US Data Transfer Agreement Continues to Face Obstacles in Parliament -
As we reported in Issue 29 of Cyber Bits, the European Parliament Committee on Civil Liberties, Justice and Home Affairs (the “EP...more
4/28/2023
/ Artificial Intelligence ,
Biden Administration ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
EU-US Privacy Shield ,
European Commission ,
European Parliament ,
Federal Trade Commission (FTC) ,
Health Insurance Portability and Accountability Act (HIPAA) ,
International Data Transfers
Over the last six months, artificial intelligence (AI) has captured the public imagination in a way it never has before. A new generation of AI-powered language models make use of a deep learning architecture known as a...more
4/27/2023
/ Artificial Intelligence ,
Banking Sector ,
Broker-Dealer ,
CFTC ,
Cybersecurity ,
Due Diligence ,
ECOA ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Investment Adviser ,
Lending ,
Popular ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Software
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
4/18/2023
/ Cybersecurity ,
Data Breach ,
Financial Institutions ,
Fixing America’s Surface Transportation Act (FAST Act) ,
Gramm-Leach-Blilely Act ,
Investment Adviser ,
Investment Company Act of 1940 ,
Personal Information ,
Popular ,
Proposed Amendments ,
Recordkeeping Requirements ,
Regulation S-P ,
Risk Management ,
Safeguards Rule ,
Securities and Exchange Commission (SEC)