On September 21, 2021, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC): (i) issued an updated advisory on potential sanctions risks for facilitating ransomware payments; and (ii) designated SUEX OTC, S.R.O. (SUEX), a virtual currency exchange,
Cleary Cybersecurity and Privacy Watch
Global Legal Developments related to Cybersecurity Incidents, Cyber Corporate Governance and Regulation Issues, and Privacy and Data Protection Laws
Cleary Cybersecurity and Privacy Watch, published by Cleary Gottlieb Steen & Hamilton LLP, focuses on legal developments and regulatory issues related to cybersecurity, data privacy, and emerging technologies. The blog covers topics such as GDPR compliance, data breach liability, AI-related cyber threats, government enforcement actions, and evolving privacy laws. It also addresses the intersection of cybersecurity with corporate governance, international trade, and regulatory compliance. The blog provides analysis of court rulings, legislative initiatives, and enforcement trends affecting companies and legal practitioners navigating cybersecurity and privacy challenges.
Latest from Cleary Cybersecurity and Privacy Watch - Page 9
The New Commission SCCs for Data Transfers under GDPR – More Questions than Answers?
The past few years have brought monumental changes to how we handle international data transfers from the EU. Schrems I, GDPR, Schrems II, Brexit and now the new Standard Contractual Clauses, published in June, 2021.
Here we share our views…
The Centennial State Claims a New Number: Colorado to Become Third State in the U.S. to Enact Comprehensive “Privacy Act”
Colorado is set to become the third state in the nation to enact comprehensive privacy legislation with the passing of SB 21-190, more commonly known as the Colorado Privacy Act (“ColoPA” or the “Act”). Governor Jared Polis is expected to…
Robinhood Sued For Failing To Protect Customers’ Accounts
Recent developments in a lawsuit have illustrated the importance of maintaining sufficient data security measures and responding adequately to data breaches, which topics are addressed in Cleary Gottlieb’s Global Crisis Management Handbook in depth. A class-action lawsuit in the Northern…
Cryptocurrency and Other New Forms of Financial Technology: Potential Terrorist Financing Concerns and Liability
While large financial institutions have traditionally been hesitant to enter new areas of financial products, particularly virtual assets, many more banks and companies have expressed interest in virtual currencies as cryptocurrency has become increasingly mainstream. Given the use of such…
Second Circuit Articulates Injury Standard in Data Breach Suits
Last week, the Second Circuit affirmed the dismissal for lack of Article III standing a proposed class action against a health services provider that mistakenly disclosed personally identifiable information (“PII”). In its opinion, the Second Circuit held that plaintiffs may…
FTC to Corporate Boards: Mind Your Data Security
On April 28, 2021, the U.S. Federal Trade Commission (“FTC”) published a blog post reminding corporate boards of directors of their responsibility to oversee data security issues and ensure that consumer and employee data are protected. The FTC’s post is…
The “New” Dominion of Privacy Law: Virginia Becomes Second State to Pass Comprehensive Consumer Data Privacy Act
Last month, the Virginia Consumer Data Protection Act was signed into law, making Virginia the second state in the nation to enact comprehensive data privacy legislation. The Act resembles and adopts some terms from the California Consumer Privacy Act (“CCPA”);…
ADGM enacts new Data protection Regulations 2021
On 11 February 2021, the Abu Dhabi Global Market (“ADGM”), Abu Dhabi’s financial free zone, enacted the new Data Protection Regulations 2021 (the “Regulations”), replacing the Data Protection Regulations 2015 in their entirety and bringing the ADGM regime closer to…
District Court Dismisses Securities Fraud Claim Against FedEx Concerning Disclosures About NotPetya Cyberattack
Last month, the United States District Court for the Southern District of New York granted a motion to dismiss in In re Fed Ex Corp. Securities Litigation, a putative class action securities fraud case filed against FedEx following numerous disclosures…