The New York Department of Financial Services (“DFS”) released their proposed second amendment to the Cybersecurity Regulation, 23 NYCRR Part 500 (“Proposed Second Amendment”) on October 9, 2022. DFS issued a minor amendment on April 2, 2020, revising the certification of compliance date (from February to April). The Proposed Second Amendment follows DFS’s “pre-proposed” draft […]
Privacy & Cyber Regulatory Enforcement
European Parliament Adopts “NIS2” Cybersecurity Directive
On November 10, 2022, the European Parliament adopted a new cybersecurity directive (the “NIS2 Directive”), which is designed to replace and repeal the existing EU Directive on the Security of Network and Information Systems (Directive 2016/1148/EC) (the “NIS Directive”). The objective of the NIS2 Directive is to achieve a higher level of cybersecurity within the EU […]
California Privacy Protection Agency Issues Notice of Modifications to Proposed CPRA Regulations
On November 3, 2022, the California Privacy Protection Agency (“CPPA”) issued a notice of modifications to the Proposed Regulations implementing the California Privacy Rights Act (“CPRA”). These proposed modifications come in response to public comments on, and are meant to clarify, previously issued modifications. The modifications, which are largely based on the Modified Proposed Regulations […]
Recent FTC Order Has Implications for Executive Liability and Corporate Data Minimization Practices
On October 24, 2022, the Federal Trade Commission (“FTC”) announced a proposed consent order against both Drizly LLC, an online marketplace for alcohol delivery, and its CEO over the company’s alleged security failures that led to a data breach in 2020, which exposed the personal information of approximately 2.5 million Drizly customers. Drizly and its […]
NYDFS Announces Significant Cybersecurity Settlement with EyeMed Vision Care
On October 18, 2022, EyeMed Vision Care LLC (“EyeMed”) entered into a Consent Order with the New York Department of Financial Services (“DFS”) relating to a cybersecurity event from 2020 that exposed consumer nonpublic information (“NPI”) to an unauthorized individual. EyeMed agreed to pay DFS a $4.5 million penalty, in addition to implementing mandatory remediation […]