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Historic Charges: First Enforcement Action Filed by New York Department of Financial Services Under Cybersecurity Regulation

Data Matters

On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.

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Market Leading Cybersecurity and National Security Lawyers David Lashway and John Woods Join Sidley in Washington, D.C.

Data Matters

Mr. Lashway and Mr. Woods join Sidley from Baker McKenzie where they started and led the global cybersecurity practice group for over 10 years. He has significant experience in addressing election security and misinformation related issues, and was deeply involved in the investigations into the 2016 and 2020 elections targeting various U.S.

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SEC Announces Settled Charges Against First American for Cybersecurity Disclosure Controls Failures – Lessons Learned

Data Matters

The SEC is considering enhancing its disclosure rules concerning cybersecurity risk governance and has indicated a target release date of October 2021. In September 2017, then-SEC Chairman Jay Clayton issued a public statement that provided an overview of the SEC’s approach to cybersecurity and underscored it as a priority for the SEC.

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New York Regulators Call on Insurers to Strengthen the Cyber Underwriting Process

Hunton Privacy

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. 10, 2018), remains pending in an Illinois state court. complaint filed Oct.

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Regulatory Update: NAIC Summer 2018 National Meeting

Data Matters

IAIGs will be classified based on a combination of international activity and size (total assets of not less than $50 billion or gross written premiums of not less than $10 billion). and the EU in September 2017. Such work should be complete by the first quarter of 2020. The Covered Agreement prohibits a U.S. territory (i.e.,

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Nation-State-Sponsored Attacks: Not Your Grandfather’s Cyber Attacks

Data Matters

Attorney General described a recent takedown of a Russian government-sponsored botnet called Cyclops Blink before it was weaponized and caused damage. and foreign government agencies. government reported a significant rise in hacks perpetrated against private companies by nation-state-sponsored threat actors.

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U.S. Warns of Threat to Financial Industry Posed by North Korean Cyberattacks

Data Matters

North Korea has been subjected to comprehensive international sanctions implemented to pressure its government to denuclearize. The Advisory’s recommendations are in accord with general cybersecurity regulations that govern financial institutions. Recent examples of cyberattacks attributed to North Korea include WannaCry 2.0,