On March 9, 2022, the SEC proposed new rules (“Proposed Rules”) that would expand cybersecurity disclosures applicable to public companies subject to the reporting requirements of the Securities Exchange Act of 1934 (“Exchange Act”). Existing SEC rules do not explicitly require cybersecurity…
On November 18, 2021, the Office of the Comptroller of the Currency (“OCC”), the Board of Governors of the Federal Reserve System (“Board”), and the Federal Deposit Insurance Corporation (“FDIC”) (collectively, the “Agencies”) issued a new rule (the “Rule”) that…
With all of the hubbub swirling around Capitol Hill last week with the Michael Cohen hearings, you can’t be blamed if you missed the fact that two important congressional hearings on privacy and data protection took place as well, one…
On December 12, 2018, Senator Schatz (D-HI), along with 15 other Senators, introduced the Data Care Act of 2018 “to establish duties for online service providers with respect to end user data that such providers collect and use.” The bill…
On November 27, 2018, the U.S. Senate Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security held a hearing titled “Oversight of the Federal Trade Commission,” which included testimony from Chairman Joseph Simons and Commissioners Rohit Chopra, Noah Phillips,…
The Securities and Exchange Commission (“SEC” or “Commission”) has given public companies a heads up on where the Commission is setting its sights in the ever-developing world of cybersecurity. Here’s what you need to know, and what you need to…
Take note GCs: The question is not if you will have to respond to a cybersecurity incident—the question is when. That was the message from speakers and panelists at the Association of Corporate Counsel’s annual meeting this year. Indeed, the…
The House Financial Services Committee this morning rounded out a full week of congressional hearings for former Equifax CEO Richard Smith. Chairman Jeb Hensarling (R-TX) reiterated his earlier calls for national standards for data security and breach notifications. Ranking Member…
Richard Smith, former Chairman and CEO of Equifax, faced his third congressional hearing in two days, appearing this afternoon before the Senate Judiciary Committee’s Privacy, Technology, and the Law Subcommittee to discuss the recently revealed Equifax data breach and efforts…
The House Committee on Energy and Commerce’s Subcommittee on Digital and Consumer Protection held the first in what will be a series of Congressional hearings on the recently revealed data breach at major credit agency Equifax. Former CEO of Equifax…
