On Wednesday, November 30, 2022, Avi Gesser, Co-Chair of the Debevoise Data Strategy and Security Group, participated in the WSJ Pro Cybersecurity Forum on a panel on Cybersecurity Whistleblowers, along with Kim Nash, Deputy Editor of WSJ Pro Cybersecurity, and Todd Fitzgerald, Vice President of Cybersecurity Strategy at the Cybersecurity Collaborative. The panel discussed: Why employees blow the whistle poor…
On November 9, 2022, the New York Department of Financial Services (the “NYDFS”) announced the publication of the official proposed amendments to its 2017 Cybersecurity Regulation 23 NYCRR 500 (the “Proposed Amendments”). The 60-day public comment period to the Proposed Amendments ends on January 9, 2023. We provided our initial thoughts on the Proposed Amendments in a blog post, and then held a webcast…
We recently wrote about how rights-based regulatory regimes for artificial intelligence (as opposed to risk-based frameworks) can lead to a misallocation of resources because compliance will require too much effort on low-risk AI (e.g., spam filters, graphics generation for games, inventory management, etc.) and not enough effort on AI that can actually pose a high risk of harm to consumers…
On 10 November 2022, the European Parliament approved the second network and information systems directive (“NIS2”). Once approved by the Council of the European Union, NIS2 will expand the applicability of the existing NIS Directive and impose updated cybersecurity obligations (in particular on supply chain security and incident reporting) on entities in a wide range of sectors designated as critical…
The EU’s General Data Protection Regulation 2016 (the “GDPR”) changed the global privacy landscape, and has been called the “gold standard” for data protection regulation. Recently, a number of U.S. states have introduced privacy laws, which borrow certain GDPR concepts (the “State Privacy Laws”): the Californian Consumer Rights Privacy Act 2020 (the “CPRA”) which amends the California Consumer Privacy Act…
On 28 November 2022, the European Union finalised the EU Digital Operational Resilience Act (“DORA”). Following a two year implementation period, DORA will impose far-reaching operational resilience requirements and management oversight requirements on financial services firms – including banks, insurers and private equity firms – as well as critical service providers that, for the first time, will be directly regulated…
On Friday, November 18, 2022 at 10:30AM ET, Eric Dinallo, Avi Gesser, Erez Liebermann, Caroline Novogrod Swett, and Johanna Skrzypczyk participated in a webcast examining the new draft amendments to the Part 500 Cybersecurity Rules (“Draft Amendments”) proposed by the New York Department of Financial Services (“NYDFS”) and the implications they may have for insurance companies and other NYDFS-regulated entities.…
Machines are increasingly making important decisions that have traditionally been made by humans, such as who should get a job interview or who should receive a loan. For valid legal, reputational, and technical reasons, many organizations and regulators do not fully trust machines to make these judgments by themselves. As a result, humans usually remain involved in AI decision making,…
On November 9, 2022, the New York Department of Financial Services (“NYDFS”) announced the publication of the official proposed amendments to its 2017 Cybersecurity Regulation 23 NYCRR 500 (“Proposed Amendments”). This announcement follows a highly active pre-proposal comment period, during which industry stakeholders shared their thoughts with the NYDFS on the changes under consideration, which we covered here for an…
On Thursday, November 17, 2022, at 1:00 PM ET, Debevoise’s Anna Gressel will join TruEra for a conversation on New York City’s new Automated Employment Decision Tool Law, which requires employers to conduct an independent bias audit of their AI employment tools by January 1, 2023. Anna will be joined by Anupam Datta, TruEra’s Co-founder, President and Chief Scientist, as…