“Cybersecurity” has emerged as one of top risks facing organizations. Considering the steady stream of massive data breaches affecting millions (sometimes billions), the debilitating effects of ransomware on an organization’s information systems, the intrigue of international threat actors, and the mobilization and collaboration of national law enforcement to thwart these attacks, it’s no wonder. Notions
SEC to Advisors and Funds – Adopt and Implement Cybersecurity Policies and Procedures
On February 9, the Securities and Exchange Commission (“SEC”) voted to propose rule 206(4)-9 under the Advisers Act and 38a-2 under the Investment Company Act (collectively, “Proposed Rule”). In general, the Proposed Rule would require all advisers and funds to adopt and implement cybersecurity policies and procedures containing several elements. While acknowledging spending on cybersecurity
Does Your Cyber Insurance Policy Look More Like Health Insurance?
Over the past several years, if your organization experienced a cyberattack, such as ransomware or a diversion of funds due to a business email compromise (BEC), and you had cyber insurance, you likely were very thankful. However, if you are renewing that policy (or in the cyber insurance market for the first time), you are
DoD Updates Cyber Incident Reporting Rule
On October 4, 2016, a final rule was published in the Federal Register which implements statutory requirements for Department of Defense (DoD) contractors and subcontractors to report cyber incidents that result in an actual or potentially adverse effect on a covered contractor information system or covered defense information residing therein, or on a contractor’s ability
NY Department of Financial Services Proposes Virtual Currency Rule
The New York Department of Financial Services recently published proposed regulations which would require virtual currency businesses operating in New York State to safeguard data and protect customer privacy.
Notably, the proposed regulations include requirements for virtual currency business to maintain cyber security programs and business continuity and disaster recovery plans.
Virtual currencies under the
The White House’s Cybersecuirty Legislative Proposal
Today the White House issued a Cybersecurity Legislative Proposal. The proposed legislation focuses on protecting the American people, the nation’s critical infrastructure, and the federal government’s computers and networks. While legislation of this nature would simplify the breach reporting process for businesses, and overall streamline cybersecurity laws, a number of legislative attempts to do this have previously