The New York Department of Financial Services (“NY DFS”) published an updated proposed Second Amendment to its Cybersecurity Regulation (23 NYCRR Part 500) in the New York State Register on June 28, 2023, updating its previous proposed Second Amendment, which was published November 9, 2022. While the language proposed is largely similar to the previous […]
Board Governance & Cyber Risk Management
SEC’s Proposed Cybersecurity Rules Delayed Yet Again
On June 13, 2023, the Securities and Exchange Commission (“SEC”) published its Spring 2023 rulemaking agenda that delayed finalizing the proposed Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure rule for public companies and proposed rule on Cyber Risk Management for Investment Advisers, Registered Investment Companies and Business Development Companies until at least October 2023. […]
Council of Europe Launches Model Contractual Clauses for Transfers of Personal Data
On June 16, 2023, the Council of Europe’s Committee of Convention 108+ (i.e., the Convention for the Protection of Individuals with regard to Automatic Processing of Personal Data) adopted Model Contractual Clauses for cross-border data flows (“MCCs”). The MCCs are intended to cover the transfers of personal data to countries that are not parties to […]
CL0P Ransomware Gang’s Exploitation of MOVEit Vulnerability: What It Means for Companies
On June 7, 2023, the Federal Bureau of Investigation (FBI) and the Cybersecurity and Infrastructure Security Agency (CISA) released a Joint Cybersecurity Advisory in connection with a recent zero-day (or previously undetected) vulnerability in Progress Software’s managed file transfer software (MOVEit Transfer), exploited by the CL0P ransomware group. CL0P publicly claimed responsibility for exploiting the […]
Joint Regulatory Guidance Aims to Help Companies Transfer Personal Data Across ASEAN and EU Member States
On May 23, 2023, the European Commission together with ASEAN (the Association of Southeast Asian Nations) published guidance that identifies commonalities and differences between the EU Standard Contractual Clauses for international data transfers (“SCCs”), and ASEAN’s Model Contractual Clauses (“MCCs”), to assist companies with their efforts to comply with data transfer rules in both regions […]