On Monday, June 17, 2024, the Department of Justice (DOJ) announced a settlement in which two U.S. based consulting companies agreed to pay a combined total of $11.3 million to resolve allegations that they violated the False Claims Act (FCA) by failing to comply with cybersecurity requirements in government contracts. According to the DOJ, the […]
Board Governance & Cyber Risk Management
Article: White Paper on Clarifying Definitions in the Protecting Americans’ Data from Foreign Adversaries Act of 2024
Peter Swire, Senior Counsel at Alston & Bird, has published a white paper at the Cross-Border Data Forum (“CBDF”), analyzing the definitions in the Protecting Americans’ Data from Foreign Adversaries Act of 2024 (“PADFAA”), which was passed on April 24, 2024 and will take effect on June 23, 2024. The white paper discusses some ambiguities […]
Data Breach Notification Requirements under the Safeguards Rule Now in Effect
For years, the Gramm-Leach-Bliley Act (GLBA) has required financial institutions to maintain reasonable safeguards for consumer data, but has only had limited breach-reporting requirements. To the extent financial institutions were subject to breach-reporting obligations, these were set by non-GLBA legislation, such as state law, or by relatively narrow incident-reporting rules under Interagency Guidelines overseen by […]
Tennessee Law Designed to Combat Deepfakes Set to Take Effect in July
On July 1, 2024, the Tennessee Ensuring Likeness, Voice, and Image Security Act of 2024 (“ELVIS Act” or “the Act”) will go into effect, bolstering the limitations on the unauthorized commercial use of an individual’s voice. The Act, which amends the Tennessee Personal Rights Protection Act of 1984, was enacted in response to the growing […]
SEC Corporation Finance Director Clarifies that Form 8-K Item 1.05 Disclosures Should be Limited to “Material” Cybersecurity Incidents
On May 22, 2024, the Director of the Division of Corporation Finance (“Corp Fin”) of the Securities and Exchange Commission (“SEC”) issued further guidance regarding disclosure of cybersecurity incidents on Form 8-K. The statement builds upon and provides additional clarity to companies seeking to comply with the SEC’s 2023 cybersecurity rules, which require public […]