Today, the UK Department for Science, Innovation and Technology announced further details on the new transatlantic data flow mechanism for UK-to-US personal data transfers. In particular, the UK Secretary of State for Science, Innovation, and Technology today laid new adequacy regulations before the UK Parliament to give effect to the proposed arrangement. The deal, announced
NIST Releases Cybersecurity Framework Version 2.0
On August 8, 2023, the National Institute of Standards and Technology (“NIST”) released a draft of The NIST Cybersecurity Framework (CSF) 2.0,1 (the “CSF” or “Framework”) along with a Discussion Draft of the Implementation Examples.2 This draft makes the most significant changes to the Framework since its initial release in 2014.
SEC Adopts Final Rules on Public Company Cybersecurity Disclosures of Incidents and Processes
On July 26, 2023, the U.S. Securities and Exchange Commission (the “SEC”) issued a release, adopting final rules (the “Final Rules”) aimed at standardizing and enhancing disclosure relating to cybersecurity incidents and risk management processes. The SEC had proposed rules (the “Proposed Rules”) on March 9, 2022. The Final Rules reflect the considerable comments received
Biden-Harris Administration Announces IoT Cybersecurity Labeling Program
On July 18, 2023, the Biden-Harris Administration announced its “U.S. Cyber Trust Mark” initiative.1 Under this program, the Federal Communications Commission (FCC) will establish a voluntary certification and labeling program to guide and inform consumers purchasing Internet of Things (IoT) devices such as “smart refrigerators, smart microwaves, smart televisions, smart climate control systems, smart
Biden Administration Invites Public Comment on Harmonizing Cybersecurity Regulations
On July 19, 2023, the Office of the National Cyber Director (ONCD) issued a request for information (RFI) on cybersecurity regulatory harmonization.1 The RFI is intended to be a step toward the Biden Administration’s goal, as stated in the National Cybersecurity Strategy, to “harmonize not only regulations and rules, but also assessments and audits
EU Commission Adopts Adequacy Decision for EU-US Data Privacy Framework
On July 10, 2023, the European Commission (“Commission”) adopted an adequacy decision for the EU-US Data Privacy Framework (“DPF”). The DPF is the successor to the EU-US Privacy Shield, which the Court of Justice of the European Union (“CJEU”) declared invalid in 2020.
This adequacy decision reflects agreement by the Commission that the DPF offers
Webinar: The Newly Revised NYDFS Cyber Requirements for Financial Services Companies: What you Need to Know About the Proposal
The New York Department of Financial Services (NYDFS) has proposed revisions to its cybersecurity regulation for banks, insurance companies and other financial services companies. The proposal significantly expands requirements for covered entities, including new requirements for larger companies, expanded governance requirements, additional notice and compliance certification requirements and more.
In this one-hour webinar, members of
US FTC, DOJ, EEOC, and CFPB Release Joint Statement on AI, Discrimination and Bias
On April 25, 2023, the Federal Trade Commission (FTC), Department of Justice Civil Rights Division (DOJ), Equal Employment Opportunity Commission (EEOC), and the Consumer Financial Protection Bureau (CFPB) issued a joint statement (Joint Statement) that each of them is now, and will be, looking at possible discrimination involving AI systems and other automated processes.
The
Blackbaud Inc. to Pay $3 Million to SEC for Alleged Misleading Disclosures in 2020 Ransomware Attack
On March 9, 2023, the Securities and Exchange Commission (“SEC”) announced that Blackbaud Inc. (“Blackbaud”) agreed to pay $3 million to settle charges for alleged misleading disclosures about its 2020 ransomware attack and for alleged disclosure control failures.1
Blackbaud, a South Carolina-based company that provides data management software to colleges, universities, and non-profit organizations,
White House Releases National Cybersecurity Strategy
The Biden administration released its National Cybersecurity Strategy (“Strategy”) on March 2, 2023.1 The Strategy builds on previous policy actions by the Biden administration that sought to strengthen cybersecurity in critical infrastructure and protect personal data, including through regulatory action, government procurement requirements, and an emphasis on software security. The Strategy calls for (1)