Tag archives: cybersecurity

OSFI’s Technology and Cyber Risk Management Guideline: Part 1

innovation circuit boardOn July 13, 2022, the Office of the Superintendent of Financial Institutions (OSFI) released its final Guideline B-13 (the Guideline), setting out technology and cyber risk management expectations for all federally regulated financial institutions (FRFIs), such as banks, insurance and trust companies. FRFIs will need ensure that they have taken steps to comply with the requirements … Continue reading

Alberta OIPC’s 2022 PIPA Breach Report – Trends and Key Takeaways

On July 27, 2022, the Office of the Information and Privacy Commissioner of Alberta (OIPC) released its 2022 PIPA Breach Report.[1] The report analyzes the nearly 2,000 breach reports[2] received by the OIPC during   the ten year period since reporting was mandated in Alberta under the Personal Information Protection Act (PIPA)[3]. The PIPA Breach … Continue reading

NYDFS proposes significant cybersecurity regulation amendments

On July 29, 2022, the New York Department of Financial Services (NYDFS) announced a “pre-proposed outreach” of material proposed changes to almost every section of its cybersecurity regulations, and would affect each entity covered by the current regulations of 23 NYCRR Part 500.  Because this version is the “preposed” copy of the changes, there is … Continue reading

More New York SHIELD Act guidance

On June 20, 2022, the New York Attorney General (NYAG) announced a consent agreement (called an Assurance of Discontinuance) with Northeast grocery chain Wegmans for, among other things, violations of the SHIELD Act requirements.  Wegmans does not confirm or deny the NYAG’s findings. In brief, on April 5, 2021, a security researcher contacted Wegmans about … Continue reading

Bill C-26: a first step at reinforcing Canadian cybersecurity

Data Protection Report - Norton Rose FulbrightOn June 14, the House of Commons introduced Bill C-26: An Act respecting cyber security, amending the Telecommunications Act and making consequential amendments to other Acts (Bill C-26). This bill is presented in two parts: The first is to amend the Telecommunications Act to promote the security of the Canadian telecommunications system; The second is to enact the Critical Cyber … Continue reading

Proposed cybersecurity rules for SEC registered advisers and funds

US banking regulators propose a rule for 36-hour notice of breachOn February 9, 2022, the U.S. Securities and Exchange Commission (“SEC”) released a proposal aimed at enhancing cybersecurity risk management programs, including cybersecurity preparedness and response, for registered investment advisers (“advisers”), investment companies and business development companies (“funds”).  Overall, the proposal addresses the following rule amendments and additions: 1. Cybersecurity Policies and Procedures Under the … Continue reading

European rulings on the use of Google Analytics and how it may affect your business

European rulings on the use of Google Analytics and how it may affect your businessRecent decisions out of the EU will impact the use of Google Analytics and similar non-European analytics services when targeting EU individuals, with the potential to put many organizations at risk of receiving GDPR fines. At issue was the transfer of personal data from the EU to the US through the use of Google Analytics. … Continue reading

Customers Can Pursue Negligence Claims Directly Against Vendor

On October 19, 2021, a federal trial court in South Carolina ruled that a group of consumers could proceed with common law negligence and gross negligence claims directly against their organizations’ vendor that had been the victim of a security breach—instead of suing the organizations of which they were customers.  In re Blackbaud, Inc. Customer … Continue reading

Proposed “Cyber Incident Reporting for Critical Infrastructure Act of 2021”

On August 27, 2021, the U.S. House Homeland Security Committee released a draft bill that would, among other things, establish a Cyber Incident Review Office (CIR Office) within the Cybersecurity and Infrastructure Security Agency (CISA), which is part of the U.S. Department of Homeland Security (DHS), and require critical infrastructure owners and operators to report … Continue reading

President Biden’s Executive Order on improving the nation’s cybersecurity

innovation circuit boardOn May 12, 2021, President Biden issued an Executive Order aimed at improving cybersecurity of the federal government, with assistance from the private sector.  The 18-page Executive Order does not set forth specific requirements, but rather sets deadlines for named agencies to develop requirements, standards, or guidelines on specific cybersecurity areas.  The Executive Order also … Continue reading

New York State imposes a US$1.5 million penalty in cybersecurity breach case

Norton Rose Fulbright - Data Protection Report blogOn March 3, 2021, the New York Department of Financial Services (NYDFS) announced a Consent Order with a NYDFS-licensed Maine-based mortgage banker and loan servicer settling alleged violations of the NYDFS cybersecurity regulations. (In the matter of Residential Mortgage Services, Inc., March 3, 2021). The Consent Order required RMS to pay $1.5 million, and within … Continue reading

Incentivizing public utilities to enhance cybersecurity: FERC’s proposed regulation

Norton Rose Fulbright - Data Protection Report blogOn February 5, 2021, the Federal Energy Regulatory Commission (“FERC”) published proposed regulations in the Federal Register that would provide federal financial incentives to utilities that voluntarily increase certain cybersecurity measures above those required by the Critical Infrastructure Protection Reliability Standards (“CIP Reliability Standards”) or by the NIST, Framework for Improving Critical Infrastructure Cybersecurity (“NIST … Continue reading

US banking regulators propose a rule for 36-hour notice of breach

US banking regulators propose a rule for 36-hour notice of breachOn December 18, 2020, the US Department of the Treasury (Office of the Comptroller of the Currency), Federal Reserve and Federal Deposit Insurance Corporation (FDIC) jointly announced a 53-page proposed rule that would require banks to notify their regulators within 36 hours of a “computer-security incident” that rises to the level of a “notification incident.” … Continue reading

NT Analyzer Webinar: Solving Apple’s new app privacy requirement

Solving Apple's New App Privacy RequirementPlease join us for an NT Analyzer Webinar, Solving Apple’s new app privacy requirement. Head of NRF Digital Analytics and Technology Assessment Platform for the US Steven Roosa and Associate Dan Rosenzweig as they walk through the upcoming Apple requirements, and showcase the NT Analyzer Apple dashboard solution.… Continue reading

NYDFS Requires COVID-19 Plans by April 9

Norton Rose Fulbright - Data Protection Report blogOn March 10, 2020, the New York Department of Financial Services (NYDFS) issued guidance to all of its regulated institutions engaged in virtual currency business activity, requiring them to have plans for preparedness to manage the possible operational and financial risks posed by the COVID-19 pandemic. NYDFS requires the plans to be submitted by Thursday, April 9, … Continue reading

The CNIL releases draft practical guidance on cookies consent

Data Protection Report - Norton Rose FulbrightThe CNIL has published draft recommendations on how to obtain consent when placing cookies. This is following the publication of its revised “Guidelines on the implementation of cookies or similar tracking technologies” which was published in July 2019 (see our article here). The objective of the recommendations is to provide stakeholders with practical guidance and … Continue reading
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