On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Part 500 Cybersecurity Rules, which include a mandatory 24-hour notification for cyber ransom…
With the widespread adoption of artificial intelligence (“AI”) and other complex algorithms across industries, many business decisions that used to be made by humans are now being made (either solely…
On April 26, 2022, the Division of Examinations (“EXAMS”) of the Securities and Exchange Commission (the “SEC”) issued a Risk Alert titled “Investment Adviser MNPI Compliance Issues” (“Risk Alert”) on…
On November 14, 2021, the Cyberspace Administration of China (“CAC”) released the draft “Network Data Security Management Regulations” (the “Draft Regulations”) for public comment. The Draft Regulations have major implications…
On September 7, 2021, the Board of the International Organization of Securities Commissions (“IOSCO”) issued a final report entitled “The Use of Artificial Intelligence and Machine Learning by Market Intermediaries…
As part of our ongoing series on enforcement actions by the Securities and Exchange Commission (“SEC”) in data- and cybersecurity-related matters (here, here, and here), we have been closely tracking…
On August 30, 2021, the SEC filed settled enforcement actions against three groups of broker-dealers and investment advisers for failing to protect confidential customer information in violation of Rule 30(a)…
On April 14, 2021, the New York State Department of Financial Services (the “DFS”) announced that its cyber enforcement action against National Securities Corporation (“National Securities”) has been resolved by…
Earlier this week, Debevoise published an overview of the SEC’s Division of Examination Priorities for 2021. Today, we’re taking a deeper dive into one aspect of those priorities: cybersecurity as it…
On January 12, Judge James Boasberg of the U.S. District Court for the District of Columbia granted plaintiff Guo Wengui’s motion to compel production of a report (the “Report”)—and related…