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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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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. 2 See Cybersecurity Risk Governance, 3235-AM89, Securities and Exchange Commission (Spring 2021). 27, 2020). 26, 2018). 20, 2017). 5 83 FR 8166 (Feb.

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Regulatory Update: NAIC Summer 2018 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2018 National Meeting in Boston, Massachusetts, from August 4 to 7, 2018. The Task Force aims to complete the white paper by the fall of 2018. This post summarizes the highlights from this meeting.

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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. 2018-L-11008, 2018 WL 4941760 (Ill. The litigation, Mondelez Intl.

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Takeaways From CCPA Public Forums

Data Matters

When California Governor Jerry Brown signed the California Consumer Privacy Act (CCPA) into law on June 28, 2018, there was broad agreement that revisions and clarifications were necessary. Adjusting the monetary threshold governing what businesses are covered by the Act. Rules for Opt-Out of Sale. Rules for Notices and Information.

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Regulatory Update: NAIC Summer 2019 National Meeting

Data Matters

The New York State Department of Financial Services recently amended its annuity suitability regulation to apply a “best interest” standard in connection with both life insurance and annuity transactions with consumers. NAIC Considers Next Steps to Implement Revised Credit for Reinsurance Model Law and Regulation.

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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.