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Regulatory Enforcement

EU Standard Contractual Clauses (SCCs) Deadline is Looming

November 28, 2022 By Wim Nauwelaerts and Paul Greaves

Companies relying on the SCCs as a data transfer tool have less than a month to update their existing contracts (if they haven’t done so already).  WHAT HAPPENED? The EU General Data Protection Regulation (GDPR) allows companies that want to transfer personal data protected by the GDPR to third countries outside the EU/EEA to do […]

Filed Under: Data Protection, International, Privacy Tagged With: EU Data Protection, EU Regulation, European Union (EU), GDPR Implementation, International Data Transfers, Regulatory Enforcement

SEC Sends a Message to Investment Advisers: Take Secure Data Disposal Seriously

September 26, 2022 By Kate Hanniford and Mario Ayoub

  On September 20, 2022, the Securities and Exchange Commission (SEC) settled an enforcement action with a large, registered investment adviser (the Firm) for alleged violations of the Safeguards Rule and the Disposal Rule of Regulation S-P that arose in the context of a data disposal process, imposing a $35 million penalty. Specifically, the SEC […]

Filed Under: Cybersecurity, Data Protection, Data Security, Financial Privacy, Privacy, SEC Tagged With: cybersecurity, Data Protection, Regulatory Enforcement, Securities and Exchange Commission

SEC Settles Enforcement Actions with Broker-Dealers and Investment Advisors for Identity Protection Deficiencies

August 1, 2022 By Alysa Austin and Kate Hanniford

On July 27, 2022, the Securities and Exchange Commission (SEC) separately settled three enforcement actions with broker-dealers and investment advisers for alleged deficiencies relating to the prevention of customer identity theft, in violation of the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID. Regulation S-ID requires registered financial institutions, broker dealers, and investment advisers […]

Filed Under: Cybersecurity, Data Protection, Financial Privacy Tagged With: cybersecurity, Data Protection, Identity Theft, Regulatory Enforcement, Securities and Exchange Commission

UK Information Commissioner’s Office Issues Warning on Ransomware Payments

July 13, 2022 By Paul Greaves

On July 8, 2022, the UK Information Commissioner’s Office (UK ICO) together with the UK National Cyber Security Centre (NCSC), published a joint letter asking the Law Society of England & Wales to remind its members that they should not advise clients to pay ransomware demands should they fall victim to a cyber-attack. The Law […]

Filed Under: Cybersecurity, Data Breach, Data Protection, Data Security, Enforcement, Privacy, Regulation Tagged With: cybersecurity, Data Breach Notification, ransomware, Regulatory Enforcement, UK data protection, UK GDPR

EDPB Issues Draft Guidelines on the Calculation of Administrative Fines

May 19, 2022 By Yung Shin Van Der Sype and Paul Greaves

On May 16, 2022, the European Data Protection Board (‘EDPB’) published draft regulatory guidelines (‘draft guidance’) on the calculation of administrative fines for infringements of the EU General Data Protection Regulation (‘GDPR’). In the draft guidance, the EDPB sets out its methodology, consisting of five steps, for calculating administrative fines. The EDPB adopted these guidelines […]

Filed Under: Data Breach Litigation, Data Protection, GDPR, Privacy, Privacy Litigation, Security Breach Tagged With: Cross-border, Data Breach Notification, EU Data Protection, GDPR, Privacy, Regulatory Enforcement

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