Popular, Data Breach, Disclosure Requirements

SDNY Dismisses Majority of SEC Landmark Charges Against SolarWinds and CISO

BCLP on 7/29/2024

On July 18, 2024, District Court Judge Engelmayer of the Southern District of New York issued his 107-page opinion and order dismissing most – but not all – of the landmark allegations of the SEC against SolarWinds Corp. and...more

Director of Division of Corporation Finance Issues Guidance on Disclosure of Cybersecurity Incidents under Form 8-K

Troutman Pepper on 6/5/2024

On May 21, 2024, Erik Gerding, the director of the Division of Corporation Finance of the Securities and Exchange Commission (SEC), released a statement containing guidance for public companies regarding the disclosure of...more

The New Hacker Playbook: Weaponizing the SEC’s Cyber Disclosure Rules

Woodruff Sawyer on 3/14/2024

Hackers are now weaponizing the SEC’s cyber disclosure rules as a new way to pressure corporations. You may recall that the Securities and Exchange Commission has new rules for timely disclosure of cyberattacks. One major...more

Chief information Security Officers and cyber whistleblowing: considerations for boards and breach response teams

A&O Shearman on 2/27/2024

At this point, it is self-evident that companies are grappling with an ever-evolving (think: tougher) cyber risk terrain. However, two recent cases against companies and their Chief Information Security Officers (CISOs),...more

[Webinar] Practical Advice on the SEC Rule: Cybersecurity Incidents and Risk Management Disclosures - January 25th, 10:00 am PT

Clark Hill PLC on 1/19/2024

Are you prepared for the new SEC Rule on Cybersecurity Incident and Risk Management Disclosures? Don't let your business get caught off guard! This webinar will cover important points about the rule and how to effectively...more

The BR Privacy & Security Download: January 2024

Blank Rome LLP on 1/12/2024

Welcome to this month's issue of The BR Privacy & Security Download, the digital newsletter of Blank Rome’s Privacy, Security & Data Protection practice....more

The Federal Communications Commission Updates its 2007 Breach Disclosure Regulations

Husch Blackwell LLP on 1/5/2024

Key Point: The FCC revised its breach notification rules for telecommunication providers to broaden the instances when notifications are required, but even with limited exceptions to the new requirements, the final rule...more

Cybersecurity in 2024: Ten Top Issues to Consider

Wiley Rein LLP on 1/3/2024

As we enter the New Year, Wiley has looked back at the top cyber issues for 2023 and what they mean for 2024. Last year, we saw the rollout of the National Cybersecurity Strategy—which outlined a new era of cyber oversight—as...more

FCC Updates Data Breach Notification Rules

Pillsbury Winthrop Shaw Pittman LLP on 12/29/2023

At its December meeting, the Federal Communications Commission approved a Report and Order modifying its data protection rules. The order expands the scope of protected data to include personally identifiable information....more

New SEC Cyber Rules are Effective

Paul Hastings LLP on 12/20/2023

Securities and Exchange Commission (SEC) rules regarding cyber incident reporting and cybersecurity risk management, strategy, and governance, officially went into effect this week for most public companies....more

Ransomware Attacker Files SEC Complaint to Increase Pressure on Victim

Wiley Rein LLP on 11/20/2023

The Black Cat/ALPHV ransomware group filed a complaint with the U.S. Securities and Exchange Commission (SEC) to allege that one of their victims failed to disclose a cyberattack to the SEC within four days, reports Bleeping...more

SEC Brings Groundbreaking Claims Against Company For Fraud Relating To Data Breach

A&O Shearman on 11/8/2023

On October 30, 2023, the Securities and Exchange Commission filed claims against a software company (the “Company”) and its Chief Information Security Officer for alleged fraud and internal control failures relating to known...more

SEC Adopts New Cybersecurity Disclosure Rules for U.S. Public Companies and Foreign Private Issuers

Stikeman Elliott LLP on 9/7/2023

The Securities and Exchange Commission (“SEC”) adopted new rules requiring the disclosure of cybersecurity risk management, strategy, governance and material incidents (the “Rules”), effective September 5, 2023. The Rules...more

SEC Adopts New Cybersecurity Reporting Rules, Setting Up Various Compliance Challenges

Ballard Spahr LLP on 8/7/2023

After an extensive comment period, the SEC announced on July 26 that it was formally adopting new rules for public companies governing cybersecurity disclosures. The rules had generated significant backlash from public...more

SEC Rules Impose New Four-Day Reporting Requirements for Cybersecurity Incidents

Quarles & Brady LLP on 8/3/2023

The Securities and Exchange Commission (“SEC”) voted on July 26, 2023 to adopt new cybersecurity rules, which are aimed at helping investors better understand the cybersecurity risks associated with public companies by...more

SEC adopts breach-reporting rules, establishes requirements for cybersecurity risk management

Orrick, Herrington & Sutcliffe LLP on 7/31/2023

On July 26, a divided SEC adopted a final rule outlining disclosure requirements for publicly traded companies in the event of a material cybersecurity incident. ...more

SEC adopts final rules on cybersecurity disclosure

Cooley LLP on 7/27/2023

In remarks to the audience at a Financial Times summit earlier this month, Gurbir Grewal, SEC Director of Enforcement, citing a recent poll from Deloitte, observed that over “a third of executives reported that their...more

Preparing for the SEC’s Cybersecurity Disclosure Rules

Wilson Sonsini Goodrich & Rosati on 7/12/2023

The U.S. Securities and Exchange Commission’s (SEC) 2023 Spring Unified Agenda of Regulatory and Deregulatory Actions was released last month and includes an anticipated action date for finalizing rules for cybersecurity...more

How Cybersecurity Protects Valuation: Considerations for Private Equity in the Deal Lifecycle

Ankura on 4/27/2023

Cybersecurity risk applies to businesses of all sizes and across all industries – it is a risk that cannot be ignored. In particular, cybersecurity risk can no longer be ignored in the deal lifecycle...more

SEC Settles Ransomware Disclosure Charges for $3 Million

Davis Wright Tremaine LLP on 3/16/2023

The U.S. Securities and Exchange Commission ("SEC" or the "Commission") has ordered Blackbaud, Inc. ("Blackbaud") to pay $3 million to resolve claims that it made materially misleading statements about a 2020 ransomware...more

SEC Fines Company $3 Million for Allegedly Misleading Cyberattack Disclosures

Jones Day on 3/15/2023

Asserting that the company misstated the scope of data stolen in the cyberattack, the SEC provides a clear reminder that cybersecurity disclosures remain an agency priority....more

[Webcast Transcript] Data Mining in Incident Response: Managing Risk and Spend through an Effective Evidence-Based Approach

HaystackID on 9/8/2022

Editor’s Note: On August 31, 2022, HaystackID shared an educational webcast on the topic of data mining in data breach incident response. As data mining has increasingly become one of the largest expenses during a cyber...more

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