As part of its regulatory review of the Gramm-Leach-Bliley Act Safeguards Rule, the Federal Trade Commission will hold a workshop, Information Security and Financial Institutions: An FTC Workshop to Examine the Safeguards Rule. The workshop, originally scheduled for May, has been postponed until July 13, 2020.
Continue Reading FTC Postpones Safeguards Rule Workshop until July

On January 8, 2017, the UK Information Commissioner issued an unprecedented monetary penalty of 400,000 pounds against British mobile phone retailer, The Car Phone Warehouse Limited. Following an attack on their system in 2015, the ICO found that the company had failed to take adequate steps to protect the personal data it held on its system.
Continue Reading UK ICO Issues Unprecedented Fine Against Mobile Phone Retailer for Lax Security

Recently, the Colorado Division of Securities published cybersecurity regulations for broker-dealers and investment advisers regulated by the Division. Colorado’s cybersecurity regulations follow similar regulations enacted in New York that apply to certain state-regulated financial institutions.
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On May 22, 2017, New York Attorney General Eric T. Schneiderman announced that the AG’s office has reached a settlement with Safetech Products LLC regarding the company’s sale of insecure Bluetooth-enabled wireless doors and padlocks. This “marks the first time an Attorneys General’s Office has taken legal action against a wireless security company for failing to protect their [customers’] personal and private information.”
Continue Reading New York AG Settles with Wireless Lock Maker Over Security Flaws