In this month’s Privacy & Cybersecurity Update, we examine the Illinois Supreme Court’s decision in a case involving workers compensation and the state’s Biometric Information Privacy Act, U.K. data transfer regimes before...more
3/2/2022
/ Biometric Information ,
Biometric Information Privacy Act ,
COPPA ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Protection Authority ,
EU ,
Federal Trade Commission (FTC) ,
General Data Protection Regulation (GDPR) ,
IL Supreme Court ,
International Data Transfers ,
Internet of Things ,
NIST ,
Personal Data ,
Popular ,
Standard Contractual Clauses
Throughout 2021, the importance of environmental, social and governance (ESG) matters proved to be even greater than many had expected, with ESG becoming a key area of focus for a range of stakeholders, particularly in the...more
In this month’s Privacy & Cybersecurity Update, we examine the U.S. Chamber of Commerce’s letter to Congress calling for federal cybersecurity legislation, the New York attorney general’s report on “credential stuffing”...more
2/3/2022
/ Biometric Information Privacy Act ,
Commercial General Liability Policies ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Privacy Rights ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
Federal Trade Commission (FTC) ,
FTC Act ,
Medical Devices ,
Personal Information
Takeaways -
The SEC plans to propose an array of new disclosure requirements relating to ESG matters.
A record number of shareholder proposals involving environmental and social issues won majority support in...more
In this month’s Privacy & Cybersecurity Update, we review the TSA’s new cybersecurity requirements for critical U.S. infrastructure, the White House OMB’s new guidance on cyber incident reporting procedures and the U.S.-U.K....more
On December 15, 2021, the U.S. Securities and Exchange Commission (SEC) proposed several amendments and new disclosure requirements intended to address what it perceives as potentially abusive practices engaged in by public...more
12/23/2021
/ 10b5-1 Plans ,
Comment Period ,
Disclosure Requirements ,
Financial Regulatory Reform ,
Financial Services Industry ,
Foreign Private Issuers ,
Insider Trading ,
Proposed Amendments ,
Public Comment ,
Securities and Exchange Commission (SEC) ,
Stock Repurchases
Companies have important decisions to make as they prepare for the 2022 annual meeting and reporting season.
We have compiled this overview of key issues — including SEC disclosure requirements, recent SEC guidance,...more
12/8/2021
/ Climate Change ,
Corporate Governance ,
Cybersecurity ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Executive Compensation ,
Hart-Scott-Rodino Act ,
Insider Trading ,
MD&A Statements ,
Proxy Advisors ,
Publicly-Traded Companies ,
Regulation S-K ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals
On November 16, 2021, Skadden held a webinar titled “Preparing for the Shareholder Proposal Season.” The panelists were Gianna McCarthy, Director of Corporate Governance for the Office of the New York State Comptroller (New...more
12/8/2021
/ Board of Directors ,
Corporate Governance ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Proxy Season ,
Proxy Statements ,
Publicly-Traded Companies ,
Rule 14a-8 ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals ,
Shareholders
In this month’s Privacy & Cybersecurity Update, we examine the FBI’s warning to companies regarding cyberattacks targeting confidential M&A activity, as well as the Cybersecurity and Infrastructure Security Agency’s directive...more
12/1/2021
/ Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
EU ,
European Data Protection Board (EDPB) ,
FBI ,
International Data Transfers ,
Ransomware ,
Robocalling
On November 17, 2021, the U.S. Securities and Exchange Commission (SEC), by a 3-2 vote, proposed amendments to the rules governing proxy voting advice businesses (proxy advisors). The amendments would rescind two portions of...more
On November 17, 2021, the Securities and Exchange Commission (SEC) adopted amendments to the proxy rules mandating the use of universal proxy cards in contested elections. The new rules require both companies and dissidents...more
On November 3, 2021, the Division of Corporation Finance (Staff) of the U.S. Securities and Exchange Commission (SEC) published Staff Legal Bulletin No. 14L (SLB 14L), which explicitly rescinds Staff Legal Bulletin Nos. 14I,...more
In this month’s edition of our Privacy & Cybersecurity Update, we examine the FTC’s changes to the Gramm-Leach-Bliley Act’s Safeguards Rule and the CFPB’s order requiring six tech companies to disclose information regarding...more
11/2/2021
/ Consumer Financial Protection Bureau (CFPB) ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Federal Trade Commission (FTC) ,
GEICO ,
Gramm-Leach-Blilely Act ,
Hackers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Multidistrict Litigation ,
Putative Class Actions ,
Safeguards Rule
In this month’s edition of our Privacy & Cybersecurity Update, we examine the California Privacy Protection Agency's public comment period for the California Privacy Rights Act, the U.K. government's public consultation...more
10/4/2021
/ California Consumer Privacy Act (CCPA) ,
Consumer Privacy Rights ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
EU ,
Fourth Amendment ,
General Data Protection Regulation (GDPR) ,
Office of Foreign Assets Control (OFAC) ,
Personal Information ,
Public Comment ,
Surveillance
On August 6, 2021, the Securities and Exchange Commission (SEC) approved the Nasdaq Stock Market’s (Nasdaq) proposal to amend its listing standards to encourage greater board diversity and to require board diversity...more
The rapidly growing focus on environmental, social and governance (ESG) matters that marked 2020 continued to shape events for companies operating or based in the U.K. and Europe in 2021. Discussions of ESG are occurring at...more
9/3/2021
/ Biden Administration ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Green Bonds ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Sustainable Finance ,
UK
In this month’s edition of our Privacy & Cybersecurity Update, we examine FINRA’s report on cloud computing, Connecticut’s new safe harbor for companies following certain cybersecurity protocols and a district court dismissal...more
9/1/2021
/ China ,
Cloud Computing ,
Communications Decency Act ,
Consultation Periods ,
Covered Entities ,
Cybersecurity ,
Data Protection ,
Financial Industry Regulatory Authority (FINRA) ,
International Data Transfers ,
Safe Harbors ,
Section 230 ,
Securities Regulation
On August 19, 2021, the New York Stock Exchange (NYSE) filed an immediately effective rule change (Rule Proposal) restoring a transaction value and materiality threshold for related party transactions that require independent...more
8/26/2021
/ Audit Committee ,
Board of Directors ,
Disclosure Requirements ,
Independent Directors ,
Listed Company Manual ,
Listing Standards ,
NYSE ,
Proposed Rules ,
Publicly-Traded Companies ,
Regulation S-K ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
On August 6, 2021, the Securities and Exchange Commission (SEC) approved1 the Nasdaq Stock Market’s (Nasdaq) proposal to amend its listing standards to encourage greater board diversity and to require board diversity...more
In prepared remarks on July 28, 2021, Chair Gary Gensler of the Securities and Exchange Commission (SEC) set forth key considerations for the staff to address in the SEC’s forthcoming rulemaking proposal on mandatory climate...more
In this month’s edition of our Privacy & Cybersecurity Update, we examine cybersecurity guidance issued by New York state, and the Cybersecurity and Infrastructure Security Agency’s new “Bad Practices” website outlining what...more
8/3/2021
/ Best Practices ,
California Consumer Privacy Act (CCPA) ,
COPPA ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
European Data Protection Board (EDPB) ,
Federal Trade Commission (FTC) ,
Homeland Security Cybersecurity & Infrastructure Security Agency (CISA) ,
NYDFS ,
Popular ,
Ransomware
In this month’s edition of our Privacy & Cybersecurity Update, we examine the European Commission’s new Standard Contractual Clauses and the European Data Protection Board’s new recommendations on international data flows. We...more
7/9/2021
/ Computer Fraud and Abuse Act (CFAA) ,
Cybersecurity ,
Data Protection ,
European Commission ,
European Data Protection Board (EDPB) ,
General Data Protection Regulation (GDPR) ,
International Data Transfers ,
Popular ,
Ransomware ,
Schrems I & Schrems II ,
State Privacy Laws
Companies are increasingly providing disclosure about their current efforts and future commitments on environmental and social (E&S) matters. The percentage of S&P 500 companies publishing sustainability or corporate social...more
As calendar year-end companies received shareholder proposals for their 2021 annual meetings, they faced a variety of uncertainties and challenges, including navigating the COVID-19 pandemic, addressing the racial inequities...more
During his Senate confirmation hearing for chair of the Securities and Exchange Commission (SEC), Gary Gensler said he would adhere to the U.S. Supreme Court’s view of materiality: Information is material (and should...more