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Cyber Risk

Bank Regulators Issue Advanced Notice of Proposed Rulemaking on Cyber Risk Governance and Management Regulations

October 31, 2016 By Privacy, Cyber & Data Strategy Team

More regulators (apart from the FTC) are now taking note of cybersecurity issues in the financial services industry and are taking steps to protect the industry and its consumers. Earlier this year, the Consumer Financial Protection Bureau (“CFPB”) issued its first enforcement action on data security against an online payment system.   In June, the Federal […]

Filed Under: Cyber Risk, Cybersecurity, Financial Privacy Tagged With: Consumer Financial Protection Bureau (“CFPB”)

New York State Financial Services Regulator Issues Proposed Cybersecurity Regulations

September 14, 2016 By Privacy, Cyber & Data Strategy Team

On September 13, 2016, Governor Andrew Cuomo announced the issuance of proposed “first-in-the-nation” cybersecurity regulations for entities regulated by the New York Department of Financial Services (DFS), including jurisdictional banks, insurance companies, and other financial institutions.  The proposed regulation will be subject to a 45-day comment period prior to being issued as a final rule.  […]

Filed Under: Cyber Risk, Cybersecurity, Data Breach, Data Protection, Data Security, Regulation Tagged With: New York Department of Financial Services

Centers for Medicare and Medicaid Services Issues Emergency Preparedness Requirements That Address Cyber-Attacks

September 14, 2016 By Privacy, Cyber & Data Strategy Team

The Centers for Medicare and Medicaid Services (“CMS”) issued a final rule on September 8th, 2016 establishing national emergency preparedness requirements for providers and suppliers participating in Medicare and Medicaid in response to “inconsistency in the level of emergency preparedness amongst healthcare providers.”  The rule will be officially published in the Federal Register on September […]

Filed Under: Cyber Risk, Data Security, Regulation

Report Suggests Organizations Still Vulnerable to Credential Management and Network Segmentation Attacks

September 14, 2016 By Privacy, Cyber & Data Strategy Team

The Multi-State Information Sharing and Analysis Center (MS-ISAC) published its 2016 mid-year review on August 22, 2016, highlighting large incidents of malware infections, with particular emphasis on ransomware and click fraud malware.  In contrast to the MS-ISAC report, however, an August 2016 report suggests most organizations would benefit from addressing issues of credential management and […]

Filed Under: Cyber Risk, Cybersecurity, Data Protection, Data Security Tagged With: Federal Trade Commission (FTC), National Institute for Standards and Technology (NIST)

FERC Takes Action on Cybersecurity in Response to Ukrainian Cyber Attacks

August 8, 2016 By Privacy, Cyber & Data Strategy Team

The Federal Energy Regulatory Commission (“FERC”) issued a Notice of Inquiry (“NOI”) and Final Rule at the end of July to address several urgent cybersecurity issues affecting the bulk electric system.  FERC is taking these actions in the face of increasingly sophisticated threats to our power grid, including in response to an actual cyber-attack against Ukraine’s electricity […]

Filed Under: Cyber Risk, Cybersecurity, Regulation

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Recent Posts

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