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David Simon is a partner in Mayer Brown's Washington DC office and a leading member of the global Cybersecurity & Data Privacy practice. He is also a member of the firm's National Security and Government Contracts practices. A former special counsel at the US Department of Defense (DoD) and chief cyber counsel to the US Cyberspace Solarium Commission, David has deep experience advising victims of ransomware attacks and state-sponsored cyber activity. Named as a Cybersecurity Trailblazer by The National Law Journal, David has also been named to Cybersecurity Docket’s “Incident Response 40,” a collection of 40 of the “best and brightest” incident response attorneys in the country. David regularly supports clients as the lead investigator and crisis manager for cross-border cyber incidents, including data breaches involving personal data, nation-state threats targeting intellectual property, state-sponsored theft of sensitive U.S. government information, and destructive attacks. David has directed and advised on dozens of complex cyber incident and data breach investigations in the last few years alone. He has counseled companies on major cyber incidents and incident preparedness across virtually every sector of the economy. David represents financial institutions, automotive manufacturers and self-driving car companies, tech companies, telecommunications companies, healthcare companies, insurance companies, defense and aerospace companies, private equity firms and their portfolio companies.

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On May 26, 2022, the US Department of Commerce’s Bureau of Industry and Security (“BIS”) published a final rule revising the restrictions on the export, reexport and transfer (in-country) of certain “cybersecurity items” used for malicious cyber activities (“final rule”). Effective immediately upon publication, the final rule amends the October 21, 2021, interim final rule

On May 6, 2022, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated crypto mixer Blender.io as a Specially Designated National (“SDN”), marking the first time a virtual currency mixer has been sanctioned. The move is the latest in a series of sanctions designations and enforcement actions in the virtual currency

Strengthening the nation’s cybersecurity has been a top priority for the Biden administration, as reflected in its collaboration with industry, regulatory actions, and the legislation it has supported in Congress, including the Cyber Incident Reporting for Critical Infrastructure Act of 2022. Executive action has been a key tool in the Biden administration’s cyber policymaking toolkit.

On February 9, 2022, the Securities Exchange Commission (“SEC” or “Commission”) voted 3-1 to propose rules, forms and amendments concerning cybersecurity risk management, as well as registered investment adviser and fund disclosures. As we have previously discussed, the proposal under the Investment Advisers Act of 1940 (Advisers Act) and the Investment Company Act of

On March 29, 2022, the US federal banking regulators released instructions on how financial institutions should comply with recently adopted computer-security incident notification requirements.1 These instructions will assist financial institutions in satisfying their obligations under the new requirements once compliance is required on May 1, 2022.

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On March 25, 2022, the United States and the European Union jointly announced an “agreement in principle” to a new trans-Atlantic data privacy framework to facilitate the cross-border transfer of personal data (the “Framework”).1 As part of the Framework, the US has made “unprecedented commitments” related to intelligence collection and surveillance practices.2 The

On March 15, 2022, President Biden signed into law the Consolidated Appropriations Act, 2022, H.R. 2471. Division Y of this omnibus appropriations legislation—the Cyber Incident Reporting for Critical Infrastructure Act of 2022—will create significant new rules requiring US critical infrastructure entities to report cybersecurity incidents and ransom payments to the US government. This legislation marks

After months of diplomatic engagement, the early morning of February 24, 2022 saw what President Biden called an “unprovoked and unjustified attack by Russian military forces” on Ukraine. Numerous news reports also have described significant cyber attacks against Ukrainian systems. According to those reports, these attacks follow multiple waves of cyber attacks in the past

On February 9, 2022, the US Securities and Exchange Commission (SEC) voted to propose several new rules and amendments to existing rules that would significantly alter the current requirements for investment advisers and funds, with one proposal specifically focused on private funds and the other focused on cybersecurity.

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On November 18, 2021, the Board of Governors of the Federal Reserve System (“Federal Reserve”), Office of the Comptroller of the Currency (“OCC”) and Federal Deposit Insurance Corporation (“FDIC,” collectively with the Federal Reserve and OCC, the “Federal Regulators”) finalized new cyber incident notification requirements for institutions that they regulate and their service providers (the