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Security Breach

SEC Brings First Enforcement Action for Violation of the Identity Theft Red Flags Rule

September 27, 2018 By Cybersecurity Preparedness & Response Team and Securities Litigation Group

On September 26, 2018, the SEC brought its first ever enforcement action for violations of Regulation S-ID (the “Identity Theft Red Flags Rule”), 17 C.F.R. § 248.201, in addition to violations of Regulation S-P, 17 C.F.R. 30(a) (the “Safeguards Rule”). Regulation S-ID and Regulation S-P apply to SEC-registered broker-dealers, investment companies, and investment advisers, and […]

Filed Under: Cybersecurity, Enforcement, Security Breach Tagged With: cybersecurity, Regulatory Enforcement, Securities and Exchange Commission

Colorado Enacts Expanded Data Breach Notification Law

June 5, 2018 By Kate Hanniford

Consistent with recent expansions to state data breach notification laws, Colorado recently enacted an expanded data privacy law that strengthens the state’s existing breach notification law and that requires policies and procedures concerning the protection and destruction of personal identifying information (“PII”).  The law applies to any individual or commercial entity that maintains, owns, or […]

Filed Under: Data Breach, Data Protection, Data Security, Security Breach Tagged With: Data Breach Notification, US State Law

Georgia Court of Appeals Reaffirms Lack of Duty to Safeguard Personal Information

May 17, 2018 By Gavin Reinke

The Georgia Court of Appeals recently reaffirmed its prior conclusion that there is no duty to safeguard personal information under Georgia law.  In McConnell v. Ga. Dep’t of Labor, — S.E.2d —-, 2018 WL 2173252 (Ga. App. May 11, 2018), the Court of Appeals addressed whether a plaintiff whose social security number and other personal […]

Filed Under: Data Breach, Data Protection, Data Security, Privacy Litigation, Security Breach Tagged With: cybersecurity, Litigation, US State Law

Seventh Circuit Affirms Dismissal of Schnuck Markets Data Breach Lawsuit

April 24, 2018 By Ashley Miller

The United States Court of Appeals for the Seventh Circuit recently affirmed the dismissal of a putative class action brought by financial institutions against Schnuck Markets, Inc., following a data breach impacting Schnuck beginning late 2012. The plaintiffs attempted to assert claims of negligence, negligence per se, various contract claims, and violation of Illinois consumer […]

Filed Under: Cybersecurity, Data Breach, Data Security, Privacy Litigation, Security Breach Tagged With: Class Action, Litigation, US State Law

SEC Adopts Statement and Interpretive Guidance on Public Company Cybersecurity Disclosures

February 23, 2018 By Cara Peterman

The Securities and Exchange Commission (SEC) issued a press release announcing its unanimous approval of a statement by SEC Chairman Jay Clayton and interpretive guidance (the “2018 Guidance”) to assist public companies in preparing disclosures about cybersecurity risks and incidents. This is the first interpretive guidance published by the full Commission on the topic of […]

Filed Under: Cybersecurity, Data Breach, Data Security, Security Breach Tagged With: Securities and Exchange Commission

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