Federal Regulation - U.S.

Appearing in The Review of Securities & Commodities Regulation

In recent years, the SEC and FINRA have created a number of new units to increase their capacity to use data analytics in market surveillance and policy/rulemaking activities. This article summarizes these units, their objectives and the types of investigations that
Continue Reading The SEC and FINRA’s Use of Big Data in Investigations and the Implications for Defense Counsel

On Friday, May 29, 2020, Davis Polk’s own Rob Cohen led a panel on cybersecurity law and enforcement issues for the Practising Law Institute’s (“PLI”) tenth annual program on enforcement. The panel included individuals from the FBI, U.S. Attorney’s Office for the Southern District of New York, New York
Continue Reading PLI Cybersecurity Enforcement Panel: Lessons Learned from Regulators and Law Enforcement

New commentary from a respected think tank attempts to provide guidance on cross-border data transfers.  The guidance proposes principles for determining which country’s law to apply to a cross-border transfer.  Although there is no guarantee that the guidance will gain favor with courts or regulators, it is an important indicator
Continue Reading Navigating Cross-Border Data Transfers: Lessons from the Sedona Conference Commentary

On Tuesday April 14, 2020, the fifth annual Incident Response Forum (the “Forum”) convened an extensive roster of presenters from private practice and the government, including from the DHS, DOJ, FTC, SEC, NYDFS, FBI, and the Secret Service, to discuss best practices for incident response.

The government panelists shared insights
Continue Reading 2020 Incident Response Forum: Lessons Learned from Regulators and Law Enforcement

As we have discussed here previously, the coronavirus outbreak has driven many companies further into the digital workplace, putting new strains on information technology systems and related privacy and security compliance controls.  Despite these burdens on companies, few regulators have offered relief from their privacy and security requirements.  As detailed
Continue Reading Data Privacy and Security Requirements During Coronavirus? Little Relief in Sight

Davis Polk attorneys authored a chapter on U.S. Cybersecurity Laws for the GDR Insight Handbook 2020.  The chapter, which can be read here, was written by Avi Gesser, Matthew J. Bacal, Daniel F. Forester, Matthew A. Kelly, Clara Y. Kim, and Gianna C. Walton, and was published by
Continue Reading Global Data Review Publishes Davis Polk’s Chapter on United States Cybersecurity Laws in GDR Insight Handbook

We have recently written on whether protecting personal data should be regulated using a property model instead of a privacy model (and concluded, probably not).  Another framework for regulating personal data that is getting increased attention is a national security model, which looks at securing personal data as a means
Continue Reading Considering A National Security Framework for Protecting Personal Data

Momentum is building in Congress for federal privacy legislation and several states have their own privacy laws in the works.  But, as concerns grow that companies are collecting and sharing personal information about U.S. residents without their knowledge and not adequately protecting that data, regulators and plaintiffs aren’t waiting for
Continue Reading Regulators and Plaintiffs Aren’t Waiting for Privacy Legislation: Companies Face Potential Liability Now and Can Take Steps to Reduce Risks

In our first Cyber Blog post, we predicted that the rules-based approach adopted by the NYDFS would become the model for cybersecurity regulation.  Two years later, we’re feeling pretty good about that prediction, as the FTC recently proposed incorporating a number of aspects of the NYDFS cybersecurity rules into
Continue Reading The FTC Moves Toward a Rules-Based Approach to Cybersecurity Regulation for Financial Institutions

In the last few years, we have seen a dramatic increase in the purchase and sale of alternative data—a shorthand for big data sets, such as satellite images of parking lots, drug approvals, credit card purchases, cellphone data on retail foot traffic, and construction permits. According to alternativedata.org, the alternative
Continue Reading Alternative Data Goes Mainstream, and Gets Increased Attention from Regulators