On December 15, 2015, following four years of close, sometimes contentious, review, the EU institutions agreed upon the text of the General Data Protection Regulation (the “GDPR”). One of the most important EU legislative initiatives in recent years, the GDPR is also a landmark in privacy regulation worldwide. As from the time the GDPR takes […]
EU Institutions Reach Agreement on First Pan-European Legislation on Cybersecurity
On December 7, 2015, after more than two years of legislative consideration, the European Parliament and the European Council reached a political agreement concerning the Directive on Network and Information Security (“NIS Directive”). Under the NIS Directive, operators of essential services will be required to take appropriate security measures and report cybersecurity incidents. The amended draft NIS […]
FTC and Wyndham Settle Data Security Allegations
On December 9, 2015, the Federal Trade Commission announced that Wyndham Worldwide Corp., Wyndham Hotel Group LLC, Wyndham Hotels and Resorts, LLC, and Wyndham Hotel Management, Inc. (“Wyndham”) had agreed to settle FTC charges that the company’s security practices unfairly exposed the payment card information of consumers to hackers in three separate data breaches between […]
FTC and FCC Sign Consumer Protection MOU
Since 2014, the Federal Communications Commission (FCC) has engaged in an increasing number of privacy and data security enforcement actions. The scope of the Commission’s jurisdiction over carriers has also dramatically increased – at least temporarily – following its recent net neutrality order, which reclassified broadband Internet access service as a telecommunications service under Title […]
Moody’s Identifies Cyber Risk As Key Factor in Credit Ratings
In a report released November 23, Moody’s Investors Service announced that the implications of cyber threats could start taking a higher priority in its credit analysis. Moody’s said it views cyber threats as similar to other extraordinary event risks, such as a natural disaster. “While we do not explicitly incorporate cyber risk as a principal […]