Eversheds Sutherland Cybersecurity and Privacy Insights Blog
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Protecting your assets Block and tackle—unclaimed property and cryptocurrency

As promoters of cryptocurrencies and digital-asset exchanges face intense scrutiny from tax, securities and other financial services regulators, they will soon have to contend with unclaimed property (or escheat) laws in the United States. This article explores how these laws could apply to cryptocurrency exchanges, hosted wallets, and other market participants, such as banks,...

About face: court finds biometric information creates unique privacy rights

A recent decision from a California federal court increases the risks to companies that use biometric information and reinforces the need to strictly comply with the requirements of biometric protection statutes. Key Takeaways The suit arises from the Illinois Biometric Information Privacy Act (BIPA), which governs the collection, storage, and use of biometric information, including...

The SEC wants companies to talk about cybersecurity

On February 21, 2018, the Securities and Exchange Commission issued an interpretive release providing important guidance to certain registrants on cybersecurity disclosure. The guidance makes clear its view that material risks or incidents related to cybersecurity fall within a company’s ongoing obligation to disclose material information in current and periodic reports. The guidance...

Securing the Cloud

Eversheds Sutherland Partner Michael Bahar is quoted in the Winter edition of USA Today Homeland Security regarding increasing efforts to keep data safe in the ‘new normal.’ “Particularly this summer, we’ve seen attackers going further – to extortion, data manipulation, disruption and even destruction,” said Michael. “What is increasingly critical is to respond to the rapidly evolving...

G-7 guidance on cybersecurity in the financial sector

The G-7 countries recently published important guidance on cybersecurity for the financial sector. While the aim of this guidance was harmonization, the practical reality remains one of piecemeal- and at times even conflicting – global, regulatory direction. To navigate this regulatory patchwork, international banks and financial institutions have to constantly assess the applicable...

NYDFS Makes Inquiry into Life Insurers’ Use of Algorithmic Underwriting

On June 29, 2017, the New York Department of Financial Services (NYDFS) issued an information request pursuant to Section 308 of the New York Insurance Law addressed to all life insurers and fraternal benefit societies authorized to write life insurance in New York (the 308 Request) requesting information about how they use “external consumer data” and algorithms in their underwriting...

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