On April 13, 2021, a federal district court granted a motion to partially unseal an FBI application and search warrant following the successful conclusion of an FBI operation to eradicate malicious web shells placed on U.S.-based computers by Chinese state-sponsored actors. The FBI’s use of credentialed, remote access techniques to access, copy, and remove malware […]
NYDFS Issues Best Practices for Cyber Insurance Risk Management
Against the backdrop of the disruptions associated with the Covid-19 pandemic and SolarWinds cyber-espionage campaign, NYDFS has released guidance for insurers that underwrite cyber insurance policies and which contains a number of provisions expected to impact companies applying for or renewing cyber insurance coverage, not the least of which is a specific recommendation that insurers […]
Fifth Circuit Decision Raises Cyber Enforcement Complications for the U.S. Department of Health and Human Services
As the Biden administration begins detailing its regulatory and enforcement priorities, it faces a new challenge on the health data privacy and security front. In University of Texas M.D. Anderson Cancer Center v. United States Department of Health and Human Services, No. 19-60226 (5th Cir. 2021), the Fifth Circuit vacated a $4.3 million penalty against […]
SEC Focused on Protecting Customer Accounts from Credential Stuffing Attacks
OCIE has released a risk alert regarding credential stuffing in the context of compliance with Regulation S-P and Regulation S-ID, and is encouraging firms to both (i) review and update their policies and procedures to address the risks associated with credential stuffing and (ii) consider proactive outreach to customers regarding measures taken to safeguard their […]
SEC Creates Event and Emerging Risk Examination Team
Following OCIE’s recent and detailed risk alert regarding the threat of ransomware, the SEC today announced that it has created the Event and Emerging Risk Examination Team (EERT) as a part of the Office of Compliance Inspections and Examinations (OCIE). The EERT will engage with registrants regarding emerging threats and current market events, to provide […]