NAIC Working Group Exposes Revisions to Incorporate Cybersecurity Considerations into Financial Conditions Examiners Handbook
Posted on Jul 24, 2015 in Insurance | Comments Off on NAIC Working Group Exposes Revisions to Incorporate Cybersecurity Considerations into Financial Conditions Examiners Handbook
In an effort to set cybersecurity readiness standards for the insurance industry, the National Association of Insurance Commissioners (NAIC) IT Examination (E) Working Group (“Working Group”) has exposed revisions to incorporate Cybersecurity Considerations (“Considerations”) into the NAIC Financial Conditions Examiners Handbook (“Handbook”). The Considerations instruct examiners to...
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...
Cybersecurity Is Key Priority for FSOC in 2015
Posted on May 22, 2015 in Uncategorized | Comments Off on Cybersecurity Is Key Priority for FSOC in 2015
Cybersecurity was a critical area of focus of the Financial Stability Oversight Council’s (“FSOC”) recently released 2015 Annual Report (the “Report”). The Report, which provides both a consolidated view of important challenges facing the financial system and a road map of FSOC’s key priorities in the upcoming year, identified cybersecurity as a growing concern and warned that cyber...
What Funds Can Take Away From SEC Cybersecurity Guidance
Posted on May 11, 2015 in Uncategorized | Comments Off on What Funds Can Take Away From SEC Cybersecurity Guidance
In late April 2015, the U.S. Securities and Exchange Commission responded to the heightened risk of data breaches at the entities it regulates by issuing prescriptive guidance on cybersecurity for all investment advisers and registered investment companies, including mutual funds, insurance separate accounts and business development companies (funds). In her article for Law360,...
DOJ Publishes Cyberincident Response Best Practices Document
Posted on May 5, 2015 in Uncategorized | Comments Off on DOJ Publishes Cyberincident Response Best Practices Document
The Cybersecurity Unit of the Department of Justice (DOJ) has published a “best practices” document to assist organizations in developing a response plan for cyberincidents. The document, titled Best Practices for Victim Response and Reporting of Cyber Incidents, focuses on steps organizations should take before, during and after a cyberincident and emphasizes the need for...
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