This past summer’s string of cyber enforcement actions signals that cybersecurity has become a top priority for the US Securities and Exchange Commission (“SEC”). These enforcement actions highlight the SEC’s scrutiny of written documentation and disclosures following incidents. In this National Cybersecurity Awareness Month Legal Update, we discuss the SEC’s recent cyber enforcement actions, as
SEC Increasingly Turns Focus Toward Strength of Cyber Risk Disclosures
On June 11, 2021, the US Securities and Exchange Commission (“SEC” or “Commission”) announced that it would focus on cybersecurity disclosures made by public companies as part of its regulatory agenda. Given the SEC’s continued interest in cybersecurity issues, high-profile ransomware attacks and executive orders issued by President Biden, it is no surprise that the
SEC Increasingly Turns Focus Toward Strength of Cyber Risk Disclosures
On June 11, 2021, the US Securities and Exchange Commission (“SEC” or “Commission”) announced that it would focus on cybersecurity disclosures made by public companies as part of its regulatory agenda.1 Given the SEC’s continued interest in cybersecurity issues, high-profile ransomware attacks and executive orders issued by President Biden, it is no surprise
Recent Cyber-Attack Developments Highlight The Importance of Corporate Attention and Action
In a bylined article, Cybersecurity & Data Privacy partner Rajesh De (Washington DC), Litigation & Dispute Resolution partners Marcus Christian, Alex Lakatos (both Washington DC), and Richard Rosenfeld (New York), Banking & Finance partner Mark Hanchet (New York), and Financial Services Regulatory and Enforcement associate Matthew Bisanz (Washington DC) examine the importance of corporate attention
US Department of Justice and US Securities and Exchange Commission Bring Insider Trading Charges Against Hackers Who Traded Using Stolen Press Rele
Federal grand juries in New Jersey and New York have indicted a total of nine individuals for allegedly violating the anti-fraud provision of the Securities Exchange Act (the “Exchange Act”) and committing wire fraud, computer fraud, identity theft and money-laundering offenses.1 The prosecutions are the first by the US Department of Justice (the “DOJ”)