Inflation Reduction Act
ESG Regulatory Landscape Creates Commercial Pitfalls
With Environmental, Social and Governance (ESG) issues top of mind in almost every industry, including at the recently concluded COP26 climate change conference in Glasgow, the burgeoning US regulatory landscape and accompanying litigation trends are giving rise to a variety...
The SEC Joins DOJ's War on Corporate Offenders
Last week we wrote about the three-pronged attack that the Department of Justice (DOJ) will use to get more aggressive in prosecuting cases and how they punish corporate offenders. Now, the U.S. Securities and Exchange Commission (SEC) has announced its...
DOJ's Torpedoes Are in the Water: Be Your Own Monitor, or One Will Be Appointed for You
Last week, at a gathering of the nation’s top white collar criminal defense attorneys in Miami, Florida, Deputy Attorney General Lisa Monaco announced material changes to the way the Department of Justice will investigate, prosecute and resolve corporate cases in...
DOJ Trumpets New Multi-Faceted Cryptocurrency Task Force: What this Means for You
In keeping with the United States government’s expanding scrutiny of cryptocurrency markets, the DOJ recently announced the creation of a National Cryptocurrency Enforcement Team (the “NCET”). The NCET endeavors to add a layer of structure and coordination to the DOJ’s...
OFAC Ransomware Update
On Friday, OFAC published a compliance guide aimed at the virtual currency industry, which promotes sanctions compliance amid the rise of ransomware attacks. Similar to OFAC’s recent advisory, this compliance guide is yet another initiative relating to the U.S. Treasury...
DOJ to Federal Contractors: Report Cyberattacks or Face the False Claims Act
The Department of Justice announced a new Civil Cyber-Fraud Initiative on October 6 – the latest move in a series of federal efforts to address the recent uptick in major cyberattacks. DOJ’s Initiative aims to hold contractors and recipients to...
Ransomware Victims Told to Think Twice Before Paying Hackers
On Tuesday, the U.S. Department of Treasury’s Office of Foreign Asset Control (“OFAC”) issued an updated advisory warning all ransomware victims that if they succumb to ransomware demands and pay foreign actors who are subject to U.S. sanctions, the victims...
Compliance Take Heed: CFTC Fines Tyson Foods $1.5 Million for Position Limits, Reporting, and Record Keeping Violations
On August 13, 2021, the Commodity Futures Trading Commission (“CFTC” or “Commission”) approved a settlement to resolve allegations that Tyson Foods, Inc. (“Tyson”) exceeded the CFTC’s position limits for soybean meal futures contracts and failed to comply with related reporting...
China's New Data Privacy Law Is Sweeping and Serious: Avoid the High Cost of Noncompliance
Last Friday, China passed the world’s harshest data privacy law, threatening violators with fines of up to 50 million Yuan (or about $7.7 million at the time of publication) or 5% of annual revenue. The Personal Information Protection Law (“PIPL”)...
SEC Is Still Cyber Serious About Disclosures
On the heels of the First American enforcement action and settlement , this week, the SEC announced a settlement with Pearson plc in connection with a 2018 cyber breach. The SEC disclosed that Pearson, a London-based educational company, agreed to...
Privilege Dwindles for Data Breach Reports
Data privacy lawyers and cyber security incident response professionals are losing sleep over the growing number of federal courts ordering disclosure of post-data breach forensic reports. Following the decisions in Capital One and Clark Hill , another district court has...
Cyber Attacks, and What to Do About Them With David Springer
David Springer joins us for a conversation about cyber attacks, cyber security, and how to stay protected from security threats.
President Biden Signs Executive Order that Likely Will Lead to Greater Scrutiny of Data Privacy in Corporate Transactions
On July 9, 2021, President Biden signed an Executive Order titled “Promoting Competition in the American Economy.” Data privacy regulations are among 72 other initiatives in the Executive Order aimed at increasing competition through the issuance of agency rules and...
SEC Gets Cyber-Serious About Disclosures
As cyberattacks continue to attract greater attention, the SEC has taken an additional step in its efforts to bring enforcement actions related to cyber disclosures. On June 14, the SEC announced settled charges against a real estate settlement services company...
Adding Insult to Injury - Texas Creates Cyber Wall of Shame
This week Texas Governor Greg Abbott signed into law HB 3746 , which amends the state’s data breach notification statute. Following states like Maine, California, and Washington, HB 3746 requires the Texas Attorney General (AG) to publish a public record...