Jeffrey Burt reports: President Biden is warning Congressional Republicans that he will veto any attempts to overturn the Securities and Exchange Commission’s (SEC) new requirement for public companies disclosing cybersecurity incidents. In a brief policy statement this week, the White House said public companies not reporting cyberattacks that disrupt their operations not only harms investors who should…
Category: Federal
SolarWinds Seeks Dismissal of ‘Unfounded’ SEC Cybersecurity Suit
Skye Witley reports: SolarWinds Corp. issued a full-throated denial of wrongdoing in how it handled one of the worst cyberattacks in history in a Friday court filing seeking the dismissal of US Securities and Exchange Commission allegations that its software security representations defrauded investors and violated rules on controls. SolarWinds argued that it disclosed risks…
Looking Ahead to the FTC’s Implementation of the Data Breach Notification Rule for Nonbanking Financial Institutions
Alexander Boyd , Colin H. Black of Polsinelli PC write: Beginning on May 13, 2024, nonbanking “financial institutions” must notify the Federal Trade Commission (“FTC”) within 30 days of discovering a data breach involving the nonpublic personal information of at least 500 consumers. These covered organizations can include a wide variety of companies that engage…
After Barrage of Hacks, Hospitals Will Face New Federal Cybersecurity Rules Tied to Funding
Eric Geller reports: The Biden administration plans to unveil new cybersecurity requirements for hospitals in the coming weeks as government officials scramble to stem a disturbing tide of hacks that have crippled health-care providers, delayed procedures and raised concerns about patient safety. The Centers for Medicare & Medicaid Services, an arm of the Department of…
FCC Approves Major Updates to Data Breach Notification Rules
Chris Riotta reports: The U.S. Federal Communications Commission voted Wednesday along party lines to update 16-year-old privacy protection rules and expand breach notification requirements as part of an effort to provide law enforcement and the public with real-time information about harmful data breaches. The new rule expands the scope of the FCC’s breach notification requirements…
AHA opposes HHS’ plan for cybersecurity fines
Naomi Diaz reports: The American Hospital Association said HHS’ plan to levy financial penalties in the event of a cyberattack on a healthcare organization would be counterproductive. In a Dec. 6 statement, the AHA said it is advocating for the HHS to review its proposal that requires healthcare organizations to be compliant with new cybersecurity requirements and…