The Securities and Exchange Commission has filed a Complaint against eight traders, one alleged hacker, and others, in connection with a previously disclosed cybersecurity attack that infiltrated the SEC’s EDGAR system in 2016. The Complaint brings claims for violations of federal securities and antifraud laws and unjust enrichment, and seeks injunctions against future securities law […]
Time for a General Federal Privacy Law? Peter Swire Opens the Discussion on Potential Preemptive Effects
The IAPP article, “US federal privacy preemption part 1: History of federal preemption of stricter state laws,” written by Alston & Bird Senior Counsel Peter Swire and published on January 9, 2019, discusses the potential for a general U.S. privacy law and whether and to what extent this new federal law would “preempt” state privacy […]
South Carolina Insurance Data Security Law Now Effective
South Carolina’s prescriptive data security law for insurers took effect on January 1, 2019. Subject to specified exemptions, the law requires any person licensed pursuant to South Carolina insurance laws to take certain steps, including among other things notification of specified cybersecurity events to the South Carolina Department of Insurance. Covered persons are also required […]
Department of Commerce Issues FAQs on UK’s Exit from the EU
The Department of Commerce recently issued a number of FAQs on the effect of the UK’s impending exit from the EU on the Privacy Shield. As these FAQs make clear, there remains significant uncertainty as to how the UK’s exit will play out from a transitional perspective, and Privacy Shield participants will need to plan […]
DOJ Announces Indictment of Chinese Hackers
On December 20, 2018, the Department of Justice and the FBI announced the indictment of two Chinese hackers, Zhu Hua and Zhang Shilong, who have been charged in a years-long global hacking campaign that resulted in the theft of sensitive information from companies and government agencies around the world. The two hackers, members of the […]