Anthony J. Ford

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Nearly every state in the United States requires notification when certain personal information is lost, stolen, or misused. However, the many state laws vary in subtle but crucial respects, making it difficult to get to a bottom line quickly. Reed Smith’s Information Technology, Privacy & Data Security practice is thrilled to release a first-of-its-kind tool designed to help companies clarify their notification strategy in response to a data loss incident. Breach RespondeRS guides companies through…
Earlier in February, the Executive Office of Management and Budget (“OMB”) issued Memorandum M-17-12 to federal agencies to set out guidelines and procedures for preparing for or responding to a breach involving the release of personally identifiable information (“PII”). The OMB’s suggested framework specifically aims to “[assess] and mitigate the risk of harm to individuals potentially affected by a breach,” and to provide “guidance on whether and how to provide notification and services to those…
In a panel at the Securities and Exchange Commission’s recent forum on Innovation in FinTech, experts discussed blockchain’s potential role in corporate processes such as by providing an unalterable history of transactions, by tracking products and documents throughout their lifecycles, and by dividing the risks and costs of maintaining an authoritative system of record among multiple parties. While the blockchain presents some implementation challenges and technical limitations, it provides opportunities for cost-savings and efficiencies for…
On Monday, November 14, 2016, the Securities and Exchange Commission (SEC) hosted a forum to discuss financial technology (FinTech) innovation in the financial services industry. The summit discussed several topics, but the second panel, titled “Impact of Recent Innovation on Trading, Settlement, and Clearance Activities,” specifically addressed blockchain-enabled distributed ledger technology and its applicability in corporate environments. The panel provided an opportunity for the SEC to highlight blockchain’s potential for assisting companies in meeting compliance…
Anthony Albanese, the head of the New York Department of Financial Services, issued a letter to more than 20 federal and state regulators outlining proposed cybersecurity regulations for banks and insurance companies operating in New York. While the letter is a request for comment from fellow regulators, it represents a preview of several cybersecurity measures that may soon be required of the financial industry. These measures focus on guaranteeing that banks and insurers establish and…