Regulators Set Sights on Big Data and Connected Devices
Posted on Dec 29, 2015 in Uncategorized | Comments Off on Regulators Set Sights on Big Data and Connected Devices
Federal and state regulators are beginning to set their sights on companies that collect, use and share consumer data, claiming they have sufficient authority to regulate potential privacy and data security risks posed by “big data” and “connected devices.” In her article for Legaltech News, Sutherland Partner Mary Jane Wilson-Bilik notes that the Federal Trade Commission (FTC) has...
SEC Seeks Comment on Cybersecurity Issues in ANPR for Transfer Agents
Posted on Dec 29, 2015 in Uncategorized | Comments Off on SEC Seeks Comment on Cybersecurity Issues in ANPR for Transfer Agents
On December 22, the Securities and Exchange Commission (SEC) issued an advanced notice of proposed rulemaking (ANPR) for new transfer agent requirements, and it also issued a concept release for which public comment on the SEC’s broader review of transfer agent regulation is sought. In the ANPR, the SEC specifically cited cybersecurity as an area in which the Commission intends to...
U.S. Court of Appeals Upholds FTC’s Authority to Regulate Cybersecurity
Posted on Aug 24, 2015 in Uncategorized | Comments Off on U.S. Court of Appeals Upholds FTC’s Authority to Regulate Cybersecurity
Today, the United States Court of Appeals for Third Circuit issued its opinion in FTC v. Wyndham Worldwide Corp. upholding the authority of the Federal Trade Commission to regulate corporate cybersecurity under Section 5(a) of the Federal Trade Commission Act, which prohibits businesses from engaging in “unfair or deceptive acts or practices.” This case was an interlocutory appeal from...
FTC Releases Data Security Guidance
Posted on Jul 2, 2015 in Uncategorized | Comments Off on FTC Releases Data Security Guidance
The Federal Trade Commission (FTC) has released new guidance for businesses on cybersecurity. The “Start with Security” program is intended to help businesses protect consumer information through best practices for data security. The business guidance outlines 10 recommended steps for effective data security drawn from the FTC’s data breach enforcement cases. The 10 steps include...
Defending Against Director & Officer Litigation
Posted on Feb 19, 2015 in Uncategorized | Comments Off on Defending Against Director & Officer Litigation
One form of ancillary litigation that has arisen out of data breaches is shareholder derivative lawsuits against companies that suffer a data breach. In one recent case, Palkon v. Holmes, No. 2:14-cv-01234-SRC-CLW (D.N.J. Oct. 20, 2014), a court dismissed such a shareholder derivative action. The claims arose out of a series of data breaches against the Wyndham Worldwide hotel chain....
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