On October 4, 2022, the White House Office of Science and Technology released the Blueprint for an AI Bill of Rights (the Bill) to guide the development and use of artificial intelligence (AI) in the United States. The White House recognized that while AI is a powerful driver of innovation, the technology can also be […]
Data Protection
SEC Sends a Message to Investment Advisers: Take Secure Data Disposal Seriously
On September 20, 2022, the Securities and Exchange Commission (SEC) settled an enforcement action with a large, registered investment adviser (the Firm) for alleged violations of the Safeguards Rule and the Disposal Rule of Regulation S-P that arose in the context of a data disposal process, imposing a $35 million penalty. Specifically, the SEC […]
SEC Settles Enforcement Actions with Broker-Dealers and Investment Advisors for Identity Protection Deficiencies
On July 27, 2022, the Securities and Exchange Commission (SEC) separately settled three enforcement actions with broker-dealers and investment advisers for alleged deficiencies relating to the prevention of customer identity theft, in violation of the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID. Regulation S-ID requires registered financial institutions, broker dealers, and investment advisers […]
White House Releases Recommendations to Protect Against Potential Cyberattacks
The potential for malicious cyber activity has been a concern for the Biden administration throughout the evolving crisis in Ukraine (including the imposition of sanctions against Russia). In response to the concern, the Biden administration, which is now facing “evolving intelligence that Russia may be exploring options for potential cyberattacks,” has released recommendations for companies […]
Senate Passes Significant Cyber Bill Requiring Cyber Incident Reporting
The Strengthening American Cybersecurity Act of 2022, a bill that narrowly failed to become law last year, was passed in the Senate on Tuesday, March 1 as a package of cybersecurity measures that would require operators of critical infrastructure and federal civilian agencies to report cyber incidents to the Department of Homeland Security’s Cybersecurity and […]