Washington D.C., May 22, 2024 — The Securities and Exchange Commission today announced that The Intercontinental Exchange, Inc. (ICE) agreed to pay a $10 million penalty to settle charges that it caused the failure of nine wholly-owned subsidiaries, including the New York Stock Exchange, to timely inform the SEC of a cyber intrusion as required…
Category: Federal
UK to propose mandatory reporting for ransomware attacks and licensing regime for all payments
“Mother, May I?” UK entities may need permission to make ransom payments. Alexander Martin reports: Officials in Britain are set to propose a major overhaul of how the country responds to ransomware attacks by requiring all victims to report incidents to the government, and then obliging those victims to seek a license before making any…
HHS launches $50M security initiative to thwart hospital ransomware
Chad Van Alstin reports: The U.S. Department of Health and Human Services (HHS) is launching a $50 million incentive program to encourage hospitals to improve their cybersecurity. Dubbed the Universal Patching and Remediation for Autonomous Defense—or UPGRADE—program, the initiative aims to speed up vulnerability detection and patch deployment through the creation of a platform that…
SEC amends Reg S-P to require data breach notification within 30 days
Aaron Nicodemus reports: The Securities and Exchange Commission (SEC) will require broker-dealers and registered investment advisers to adopt written policies and procedures for handling data breaches of customer data and notify affected customers within 30 days. On Thursday, the SEC approved amendments to Regulation S-P, known as the safeguards rule. The rule requires covered entities to…
Brazilian Data Protection Authority approves data breach notifying regulation
Cristiane Manzueto, Rodrigo Leal, Ana Letícia Allavato, and Diego Semeraro of Mayer Brown write: Resolution No. 15, of April 24, 2024, of the Brazilian Data Protection Authority (“ANPD”), approved the Data Breach Notifying Regulation (the “Regulation”). The Regulation establishes procedures for data controllers to notify subjects of data breaches, as required by Article 48 of…
FTC Finalizes Changes to the Health Breach Notification Rule
The Federal Trade Commission today announced it has finalized changes to the Health Breach Notification Rule (HBNR) that will strengthen and modernize the rule by clarifying its applicability to health apps and other similar technologies and expanding the information that covered entities must provide to consumers when notifying them of a breach of their health…