Eversheds Sutherland Cybersecurity and Privacy Insights Blog
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A paradise for data privacy advocates—Bermuda’s privacy law now in full effect

With enactment of the Personal Information Protection Act (PIPA), Bermuda can now count itself among the ever-expanding list of jurisdictions with enhanced privacy protections. PIPA, passed on July 27, 2016, and entered into force in December 2017, shares many of the more stringent requirements and protections with Europe’s impending General Data Protection Regulation (GDPR), which...

NERC and power company reach settlement on violations of cybersecurity standards

A power company has reached an agreement with the North American Electric Reliability Corporation (NERC) to pay $2.7 million for violations of a cybersecurity reliability standard. This violation resulted from the online exposure of the company’s data due to a vendor’s mishandling of the data, allowing unrestricted third-party access to 30,000 asset records. The violation posed a...

They’re Baaaack . . . SECs Office of Compliance Inspections and Examinations Releases New Cybersecurity Risk Alert

Yesterday, the U.S. Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert describing OCIE’s 2015 cybersecurity exam initiative.  [link to www.sec.gov/ocie/announcement/ocie-2015-cybersecurity-examination-initiative.pdf].  As the Risk Alert notes, OCIE’s new cybersecurity initiative builds on information OCIE learned from...

NAIC Cybersecurity Forum Focuses on Escalating Threats and Best Remediation Practices

On September 10, the National Association of Insurance Commissioners (NAIC) co-sponsored a cybersecurity forum at the Center for Strategic and International Studies in Washington, DC. Featuring an impressive line-up of senior government officials and knowledgeable experts, the forum aimed to increase understanding of the escalating threat environment, emerging best practices in cyber...

Sutherland and the Financial Services Institute Complete Benchmarking Survey on Cybersecurity Practices

WASHINGTON—Sutherland Asbill & Brennan LLP and the Financial Services Institute (FSI) have completed a survey of FSI members concerning cybersecurity issues. The survey included responses from 39 broker-dealers (92% of which were dually registered as investment advisers), ranging in size from fewer than 100 registered representatives to more than 2,000. The survey covered a variety...

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