Cybersecurity / Data Security

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On October 30, 2023, the Securities and Exchange Commission (the “SEC”) filed a civil lawsuit charging SolarWinds Corporation (“SolarWinds” or the “Company”) and its chief information security officer, Timothy G. Brown (“Brown”), with securities fraud, internal controls failures, misleading investors about cyber risk, and disclosure controls failures, among other violations.  The SEC’s claims arise from allegedly known cybersecurity risks and vulnerabilities at SolarWinds associated with the SUNBURST cyberattack that occurred between 2018 and 2021.…

Continue Reading Uncharted Territory: The SEC Sues SolarWinds and its CISO for Securities Laws Violations in Connection with SUNBURST Cyberattack

The summer has been anything but slow in the People’s Republic of China. China is leaning into its regulation of emerging technologies, while attempting to strike a balance with its domestic economic priorities. In just the past few weeks, state authorities have issued a slew of draft measures and announced new initiatives – all with significant ramifications for businesses processing data within the PRC. From personal information processing to facial recognition to cross-border data transfers, what follows is a highlight reel of what you may have missed while you were away on vacation, with the comment period for many of these developments closing within the next few weeks.…

Continue Reading Catch Up Fast: The “Data Days” of Summer in China

On July 26, 2023, the SEC finalized long-awaited disclosure rules (the “Final Rules”) regarding cybersecurity risk management, strategy, governance, and incidents by public companies that are subject to the reporting requirements of the Securities Exchange Act of 1934.  While the end results are substantially similar to rules proposed by the SEC in March 2022, there are some key distinctions. …

Continue Reading Five Key Takeaways from the SEC’s Final Cybersecurity Rules for Public Companies

On June 18, 2023, the Biden-Harris administration announced the launch of a new “U.S. Cyber Trust Mark” program (hereinafter the “Program”). First proposed by Federal Communication Commission (“FCC”) Chairwoman Jessica Rosenworcel, the Program aims to increase transparency and competition across the smart devices sector and to assist consumers in making informed decisions about the security of the devices they purchase.…

Continue Reading Biden Admin Eyes IoT Cyber Practices

On March 2, 2023, the Biden-Harris Administration released the National Cybersecurity Strategy.[i] The highly anticipated Strategy has illuminated that a more overt and aggressive approach to mitigating cyber risks may be necessary to drive real change, leading to the anticipation of increased communication and partnerships between private companies and government agencies.[ii] The…

Ever since the public launch of OpenAI’s ChatGPT, the world has been gasping at the astonishing accomplishments of this generative AI chatbot:  a simple “prompt” in the form of a question (“which are the most important decisions of the CJEU in copyright?”) will receive a credible response within seconds (“The Court of…

On March 22, 2022, the Department of Defense (DoD) issued a final rule requiring contracting officers to consider supplier risk assessments in DoD’s Supplier Performance Risk System (SPRS) when evaluating offers. SPRS is a DoD enterprise system that collects contractor quality and delivery performance data from a variety of systems to develop three risk assessments:…

Eight months after the issuance of the draft Measures on the Standard Contract for the Export of Personal Information (“SCC Regulations”), on February 24, 2023, the Cyberspace Administration of China (“CAC”) released the final version of the SCCs Regulations, along with the Standard Contractual Clauses (“SCCs”). The SCCs set a baseline for cross-border data transfer…

On February 28, 2023, the European Data Protection Board (“EDPB”) adopted its Opinion 5/2023 (the “Opinion”) on the draft adequacy decision of the European Commission regarding the EU-U.S. Data Privacy Framework (“DPF”). The DPF aims to ensure that personal data transferred from the European Union to the U.S. receives an adequate level of protection. The…

On March 2, 2023, the Biden Administration released the 35-page National Cybersecurity Strategy (the “Strategy”) with a goal “to secure the full benefits of a safe and secure digital ecosystem for all Americans.”

Summary and Analysis

The Strategy highlights the government’s commitment to investing in cybersecurity research and new technologies to protect the nation’s security…