Tag Archives: cybersecurity

Cybersecurity News & Notes – August 8, 2016

In Case You Missed It:  In a sign of the growing importance of cyber operations in warfare, the Obama administration plans to elevate the status of the Pentagon’s Cyber Command.  The U.S. Cyber Command, or USCYBERCOM, was created on June 23, 2009.  Its stated mission is to, among other things, “conduct full spectrum military cyberspace operations” to “ensure US/Allied freedom of action in cyberspace and deny the same to our adversaries.”  Currently,… More

Cybersecurity News and Notes – July 25, 2016

In Case You Missed It: U.S. Major party platforms address cybersecurity.  The two major parties have released their 2016 election platforms, both of which include cybersecurity planks.  The Republican platform’s perspective of cybersecurity is an element of national security and international relations. The platform called for harsh responses to cyber-attacks against American businesses, institutions, and government, applauded the Cybersecurity Information Sharing Act of 2015, and pledged to “explore the possibility of a free market for Cyber-Insurance.” The Democratic platform is largely as a continuation of President Obama’s cybersecurity policies.… More

Cybersecurity News & Notes – July 5, 2016

In Case You Missed It: Ruling in FTC v. Amazon Suggests a Way Forward for Companies Responding to Actions Brought by the FTC after a Data Breach.  The FTC’s recent actions in the realm of data security have been predicated on its claim of statutory authority to seek injunctive relief for the failure to maintain reasonable and appropriate data security practices.  A U.S. District Court ruling last week casts some doubt on that authority. … More

Cybersecurity News and Notes: June 27, 2016

In Case You Missed It

The FTC settled with mobile advertising company InMobi for $950,000 in civil penalties, along with the implementation of a privacy program, based on the FTC’s charges that InMobi impermissibly tracked the locations of both adult and child consumers for the purpose of geo-targeted advertising.  The latter, of course, also implicated allegations of violations of the Children’s Online Privacy Protection Act (COPPA) rule. … More

Reminder: March 1, 2016 Effective Date for Information Systems Security Programs Including Cybersecurity for NFA Members

As noted in our earlier Foley Adviser, March 1, 2016 is the effective date for NFA member firms (including futures commissions merchants, commodity trading advisors, commodity pool operators, introducing brokers, retail foreign exchange dealers, swap dealers, and major swap participants) to adopt and enforce written policies and procedures to secure customer data and access to their electronic systems.

If you have any questions regarding implementation of these policies and procedures,… More

The SEC Charges Investment Adviser with Violating Regulation S-P by Failing to Adopt Cybersecurity Policies and Procedures

In recent years, the SEC has been focused on cybersecurity. It has issued risk alerts, conducted examinations and provided guidance about what the agency sees as widespread weaknesses in many policies and procedures to protect against cyberthreats. The SEC has now taken the next step: a few days ago, the SEC brought its first-ever enforcement action for a violation of Regulation S-P, 17 C.F.R. § 248.30(a) – known as the “Safeguards Rule” – against an investment adviser that was itself the victim of a security breach in which hackers stole customer information.… More

SEC Issues Risk Alert Announcing Second Round of Examinations of Registered Investment Advisers and Broker-Dealers

From our colleagues Catherine Anderson and Lauren Tran, we present this update on OCIE’s 2015 Cybersecurity Examination Initiative:  Second Round of Cybersecurity Examinations to Begin

*   *   *

On September 15, 2015, the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) issued a Risk Alert announcing a second round of examinations of registered investment advisers and broker-dealers under its cybersecurity examination initiative.… More