On May 21, 2024, U.S. Securities and Exchange Commission Director of the Division of Corporation Finance Erik Gerding issued a statement clarifying when the SEC expects companies to disclose a cyber incident. This clarification helps guide public companies who wish to disclose a cyber incident but who have not yet determined if the incident is
On Oct. 27, 2023, the Federal Trade Commission (FTC) amended its Standards for Safeguarding Customer Information (the Safeguards Rule), promulgated under the Gramm-Leach-Bliley Act (GLBA), to require financial institutions to provide notice to the FTC of data breaches that impact 500 or more consumers (the Amendment). This comes after the FTC’s major update to the
On June 24, 2022, China’s National Information Security Standardization Technical Committee (commonly referred to as “TC260”) finalized the Technical Guideline on Personal Information Cross-Border Transfer Certification (Final Cert Guideline). Although the Final Cert Guideline largely remains the same as the draft version released this past April, which is described in our prior blog post, China
The European Data Protection Board (EDPB) issued draft practical guidance on various types of data breaches to assist companies with identifying situations in which a data security incident may need to be reported to EU supervisory authorities (the government regulator for privacy in various EU member countries) and to the individuals themselves. One example discussed
The European Data Protection Board (EDPB) issued draft practical guidance on various types of data breaches to assist companies with identifying situations in which a data security incident may need to be reported to EU supervisory authorities (the government regulator for privacy in various EU member countries). The guidance includes how to respond to a
Given the circumstances of most ransomware attacks, likely yes.
The EDPB issued practical guidance on various types of data breaches, giving top billing to ransomware attacks. Given the recent increase in ransomware attacks likely due to the sudden shift to remote work in response to COVID-19, the EDPB’s guidance focuses extensively on ransomware attacks. In
When the GDPR took effect in 2018, it required notification within 72 hours to supervisory authorities in the EU of a data breach likely to result in a risk to the rights and freedoms of individuals, and subsequent notification to the individuals themselves if the breach could give rise to such a “high” risk. Unlike