SEC Chairman Jay Clayton issued a public statement on Cybersecurity (the “Clayton Statement”) last week, disclosing a 2016 attack on the SEC’s database of corporate filings. The intrusion exploited a vulnerability in the test filing component of the EDGAR system, a document repository for disclosures from public companies and issuers, through which the intruder was […]
Cybersecurity
FTC Announces First Privacy Shield Enforcement Actions
The Federal Trade Commission recently announced that it had settled charges against three companies alleged to have falsely claimed participation in Privacy Shield. Privacy Shield supports EU – U.S. transfers of personal data by helping U.S. companies demonstrate compliance with European Union data transfer rules. Companies participating in the program commit to meet specific program requirements […]
Eighth Circuit Affirms Dismissal of Scottrade Data Breach Suit
The United States Court of Appeals for the Eighth Circuit recently affirmed the district court’s dismissal of a putative class action brought by customers of the brokerage firm Scottrade in the wake of an alleged data breach impacting Scottrade in 2013. The named plaintiffs had asserted several contract-based claims against Scottrade, alleging that Scottrade had […]
FTC Updates Data Security Guidance for Businesses
In June, the Federal Trade Commission released a new guide for businesses on implementing sound data security protections and procedures. In “Protecting Personal Information: A Guide For Business,” the FTC offers “10 practical lessons” based on the numerous enforcement actions brought by the FTC. The guide offers insight into the thinking of this key federal […]
Alston & Bird Issues Cyber Alert on the New Chinese Cybersecurity Law and Regulations
On Monday, June 26, 2017, Alston & Bird’s Kim Peretti, Justin Hemmings, and Emily Poole issued an advisory on recent changes in Chinese Cybersecurity Law. The new law asserts greater control over all data collection and generation in China, as well as the processing of data from Chinese data subjects. While the law entered into […]