On November 1, Canada provided the U.S. with another model for a national breach law:  the Personal Information Protection and Electronic Documents Act (“PIPEDA”).  Under that law, companies are required to notify Canada’s Privacy Commissioner and affected individuals as soon as feasible if they experience “any breach of security safeguards
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Some of the most significant recent cyber breaches originated at vendors.  We have previously discussed the importance of effective oversight of third parties because vendor breaches can lead to regulatory actions for companies.  Indeed, recent regulatory guidance provides that vendor diligence is an essential part of any cybersecurity program.  This
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The New York Department of Financial Services (“NYDFS”) recently issued guidance for its covered entities[1] highlighting the importance of cybersecurity as a necessary part of M&A due diligence. This guidance comes in the greater context of the Yahoo! SEC resolution to demonstrate that regulators are paying close attention to
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One of many difficult decisions that companies face following a cyber breach is whether to disclose it to law enforcement.  There are several advantages to involving the FBI in a breach response: they may (1) have seen this kind of hack before; (2) know the malware or persons involved; (3)
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We have issued a memo on recent proposed U.S. federal banking regulations that could significantly expand the existing cybersecurity regulatory framework for covered financial institutions. The Enhanced Standards intend to strengthen cyberattack preventative measures and post-attack responses.

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We have issued a memo on recent proposed cybersecurity regulations by the New York State Department of Financial Services that would be more stringent than existing federal requirements for certain financial entities. The memo highlights similarities and differences between the proposed regulations and federal regulations and guidance.

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