When first introduced on February 22, 2019, AB 1760 aimed to merely fix a few typographical errors in the California Consumer Privacy Act of 2018 (the “CCPA”). However, when AB 1760 was first amended on April 4, 2019, the bill turned into a wholesale replacement of the CCPA with the “Privacy For All Act of […]
SEC Issues Risk Alert Noting Common Regulation S-P Compliance Issues
The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) has issued a Risk Alert that provides an overview of the most common deficiencies or weaknesses in investment adviser and broker-dealer compliance with the Safeguards Rule, Regulation S-P, based on recent examinations. Placed in context with prior OCIE Risk Alerts concerning cybersecurity practices and Regulation S-P […]
FTC Announces New Cybersecurity Requirements, Privacy Rule Update
In March, the Federal Trade Commission announced proposed updates to two key privacy and security regulations, the Safeguards Rule and Privacy Rule. Both rules implement regulations under the federal Gramm Leach Bliley Act, and the FTC seeks comments for both. The FTC’s proposed update to the Safeguards Rule would impose a number of information security […]
The Supreme Court Signals Further Review of Article III Standing
The Supreme Court recently issued an opinion concerning the requirements for Article III standing for statutory violations under the Stored Communications Act (SCA). In Frank v. Gaos, the Supreme Court in a per curiam decision remanded a class action settlement because there remained a standing issue in light of Spokeo v. Robins. While the Supreme […]
Companion Cybersecurity Disclosure Bills Introduced in U.S. Congress
On February 28 and March 13, 2019, members of the U.S. Senate and U.S. House of Representatives introduced legislation designed to enhance the transparency of cybersecurity risk oversight at certain SEC reporting companies. Although the text of the House bill, H.R. 1731 is not yet publicly available, the bipartisan Senate bill, S. 592, would require […]