Archives: Data Security

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The Securities and Exchange Commission and Financial Industry Regulatory Authority Release Examination Priorities for 2017

The Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) and the Financial Industry Regulatory Authority, Inc. (“FINRA”) (a private self-regulatory organization overseen by OCIE), recently released their 2017 examination priorities.  It is no surprise to find cybersecurity listed as an examination priority again this year. OCIE and FINRA have repeatedly recognized … Continue Reading

Extension of Time for Comments on the Federal ANPR on Cyber Risk Management Standards

For those considering submitting comments on the federal advance notice of proposed rulemaking (ANPR) on enhanced cyber risk management standards, you’ve been granted an extension.  The agencies involved—the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation—announced that they will extend the comment period … Continue Reading

CDRH Releases Postmarket Cybersecurity Final Guidance

By Christopher Hanson On December 28, 2016, CDRH announced the publication of the final guidance “Postmarket Management of Cybersecurity in Medical Devices.”  In a separate post, we reported on the January 22, 2016 draft version of this guidance document.  The final guidance provides FDA’s recommendations on a risk-based framework for medical device manufacturers to assess and … Continue Reading

Updated OMB Breach Response Policy Includes Required Breach-Related Provisions for Federal Agency Contracts

Last week, the Office of Management and Budget issued an updated breach response policy for federal agencies, replacing a policy last updated in 2007.  The policy, set forth in memorandum M-17-12, provides minimum standards for federal agencies in preparing for and responding to breaches of personally identifiable information (PII).   In addition to setting forth requirements … Continue Reading

China’s New Draft National Standards on Personal Information Protection

In our previous post, we discussed seven draft cybersecurity and data protection national standards released by China’s National Information Security Standardization Technical Committee (“NISSTC”), a standard-setting committee jointly supervised by the Standardization Administration of China (“SAC”) and the Cyberspace Administration of China (“CAC”), on December 21, 2016. “Information Security Technology – Personal Information Security Specification” … Continue Reading

Reports Suggest New York DFS to Revise Proposed Cyber Regulations and Delay Implementation

Based on reports citing New York Department of Financial Services (“DFS”) sources (see here and here), DFS may propose a revised version of its first-in-the-nation cybersecurity regulations on December 28, 2016.  That revision would be followed by a new 30-day comment period, with the revised regulations scheduled to take effect on March 1, 2017. This … Continue Reading

Industry Reacts to New York’s Proposed Cybersecurity Regulation for Financial Services Institutions

On December 19, 2016, the New York State Assembly Standing Committee on Banks heard testimony about a proposed regulation introduced by the New York State Department of Financial Services that would require financial services companies to develop and implement cybersecurity programs to defend against cyber-attacks.  As we covered when Governor Andrew Cuomo announced this first-in-the-nation … Continue Reading

China Seeks Comment on Seven Draft Cybersecurity and Data Privacy National Standards

By Tim Stratford and Yan Luo China’s National Information Security Standardization Technical Committee (“NISSTC”), a standard-setting committee jointly supervised by the Standardization Administration of China (“SAC”) and the Cyberspace Administration of China (“CAC”), released seven draft national standards related to cybersecurity and data privacy for public comment on December 21, 2016.  The public comment period … Continue Reading

Data Breach Allegations Sufficient for Standing After Spokeo, Court Says

On Monday, the U.S. District Court for the District of Kansas ruled that the named plaintiff for a putative class of CareCentrix employees whose personal information was compromised had alleged enough harm for standing under Spokeo, Inc. v. Robins.  The case is Hapka v. CareCentrix, Inc. In early 2016, a phishing attack compromised defendant CareCentrix’s systems, … Continue Reading

Ashley Madison Settles Data Security and Deception Charges

The FTC announced today that it has reached a settlement with the operators of AshleyMadison.com (Ashley Madison) for alleged data security deficiencies and deceptive trade practices.  According to the FTC, Ashley Madison, a dating website for married individuals, was hacked in July 2015, leading to the release of 36 million users’ account and profile information.  … Continue Reading

The Commission on Enhancing National Cybersecurity Releases Its Report on Securing and Growing the Digital Economy

On December 1, 2016, the Commission on Enhancing National Cybersecurity released its Report on Securing and Growing the Digital Economy. In its Report, the Commission, established in February 2016 by President Obama, provided detailed short- and long-term recommendations to strengthen cybersecurity in the public and private sectors. The Commission took a multi-stakeholder approach, emphasizing the … Continue Reading

Insurance Coverage Issues for Cyber-Physical Risks

The recent National Institute of Standards and Technology (NIST) publication of cybersecurity guidance for the Internet of Things (IoT) is a useful reminder that hacking incidents can result not only in privacy breaches, but also in bodily injury or property damage — via critical infrastructure, medical devices and hospital equipment, networked home appliances, or even … Continue Reading

Advisory Group Releases Report on Internet of Things

Following NIST’s release of cybersecurity guidance for the Internet of Things last week, the Broadband Internet Technical Advisory Group (BITAG) released a report today titled Internet of Things (IoT) Security and Privacy Recommendations (the Report).  BITAG is a non-profit organization that brings together engineers and technologists in a working group to develop consensus on technical … Continue Reading

NIST Releases Cybersecurity Guidance for Internet of Things

On November 15, 2016, the National Institute of Standards and Technology (NIST) released its final guidance providing engineering-based solutions to protect cyber-physical systems and systems-of-systems, including the Internet of Things (IoT), against a wide range of disruptions, threats, and other hazards.  NIST Special Publication 800-160 (the “Guidance”) is the result of four years of research … Continue Reading

NIST Releases Cybersecurity Guide for Small Businesses

The National Institute of Standards and Technology (NIST) released guidance today designed to help small businesses improve their cybersecurity preparedness.  The document, Small Business Information Security: The Fundamentals, is based on NIST’s 2014 Framework for Improving Critical Infrastructure Cybersecurity, a widely used cybersecurity framework (Cybersecurity Framework).  For additional background on the Cybersecurity Framework, please see … Continue Reading

NHTSA Releases Proposed Cybersecurity Guidance for the Automotive Industry and Solicits Public Comment

On October 24, 2016, the U.S. Department of Transportation’s National Highway Traffic Safety Administration (“NHTSA”) announced the release of Cybersecurity Best Practices for Modern Vehicles, a non-binding, proposed guidance document designed to assist the automotive industry in improving motor vehicle cybersecurity and mitigating threats to safety. The guidance is intended to apply broadly to “all … Continue Reading

FTC Issues Guidance for Responding to Data Breaches

On Tuesday, the FTC issued new guidance for businesses on responding to data breaches, along with an accompanying blog post and video.  The data breach response guidance follows the issuance of the FTC’s “Start with Security” data security guidance last year and builds upon recent FTC education and outreach initiatives on data security and cybersecurity … Continue Reading

Inherited Infrastructure, Outdated Software, And Other Failings That Led To TalkTalk’s Record Fine

On October 5, 2016, the UK Information Commissioner’s Office (“ICO”) fined telecoms company TalkTalk a record £400,000 for failing to put in place appropriate data security measures and allowing a cyber-attacker to access TalkTalk customer data “with ease.”  The ICO highlighted several  technical and organizational deficiencies as justification for issuing its largest fine to-date.  Many … Continue Reading

UK Telco Loses Appeal; Should Have Reported Data Breach Within 24 Hours Of Customer Complaint, Not Fuller Investigation

By Phil Bradley-Schmieg and Gemma Nash On August 30, 2016, a major UK telecoms company (TalkTalk) lost its appeal against a fine imposed on it for failing to report a personal data breach to the UK national data protection authority (the Information Commissioner) within 24 hours of its receipt of a customer’s complaint. Commission Regulation … Continue Reading

Launch of the Third Edition of Data Protection & Privacy, edited by Covington’s Monika Kuschewsky

On September 22, 2016, Monika Kuschewsky, a senior lawyer in Covington’s global Data Protection and Cybersecurity practice, hosted a seminar on “The Latest Data Protection Developments Around the Globe”.  The third edition of the multijurisdictional handbook Data Protection & Privacy, edited by Ms. Kuschewsky and published by Thomson Reuters in the Sweet & Maxwell International … Continue Reading

New York State Proposes Cybersecurity Regulation for Financial Services Institutions

On September 13, 2016, New York Governor Andrew Cuomo announced a proposed regulation that would require financial service institutions to develop and implement cybersecurity programs to prevent and mitigate cyber-attacks.  The proposed regulation will be subject to a 45-day comment period once it is published in the New York State Register. The regulation will become … Continue Reading

FTC Announces it will Provide Guidance on Ransomware

The FTC has become the most recent regulator to take a closer look at ransomware and its impact on consumers. During the FTC’s September 7, 2016, Fall Technology Series on Ransomware, Chairwoman Edith Ramirez announced that the FTC will soon release guidance to businesses on how to protect against ransomware. Ransomware is a malicious software … Continue Reading
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