CUNA reports: NCUA issued a Letter to Credit Unions (23-CU-07) on the cyber incident notification requirements that go into effect Sept. 1. Credit unions will be required to notify the NCUA no later than 72 hours after the credit union reasonably believes it has experienced a reportable cyber incident or has received a notification from…
Category: Federal
Three managers picked up; 2 others invited for breaching Ghana data protection law
GNA reports: Three managers were arrested on Monday by the Data Protection Commission (DPC) and the Criminal Investigations Department (CID) of the Ghana Police Service for breaching the Data Protection Act, 2012 (Act 843). The three institutions are Hisense, an electronic goods dealership, Marwako Fast Foods and Agyabeng Akrasi and Co Limited, a law firm….
Cyberattacks And Compromise of Attorney Client Confidences
Scott Greenfield comments on a ruling previously noted on this site: In an underappreciated ruling, District of Columbia Judge Amit Mehta ruled that the multinational law firm Covington & Burling must comply with an SEC subpoena requiring the firm to give up the names of clients, publicly-traded corporations, in order for the SEC to investigate whether…
In SEC Battle, Covington Ordered to Disclose Names of 7 Clients
Abigail Adcox reports: U.S. District Judge Amit Mehta of the District of Columbia has ruled that Covington & Burling must disclose to the U.S. Securities and Exchange Commission the names of seven clients whose information may have been exposed in a 2020 cyberattack that impacted the firm. “Covington shall produce to the Commission the names…
1st Circuit confirms standing for data breach victims
Orrick, Herrington & Sutcliffe LLP write: On June 30, the U.S. Court of Appeals for the First Circuit overruled a district court’s dismissal of a putative class action against a home delivery pharmacy service for allegedly failing to prevent a 2021 data breach that exposed the personally identifiable information (PII) of over 75,000 patients. The class…
SEC to Consider Cyber Rules Next Week
Micaela McMurrough, Ashden Fein, David H. Engvall, Caleb Skeath, Kerry Burke, and Shayan Karbassi of Covington and Burling write: According to a recently-released meeting agenda, the Securities and Exchange Commission’s (“SEC”) upcoming July 26, 2023 meeting will include consideration of adopting rules to enhance disclosures regarding cybersecurity risk management, governance, and incidents by publicly traded companies….