On September 20, 2022, the U.S. Securities and Exchange Commission announced that Morgan Stanley Smith Barney agreed to pay a $35 million fine for the firm’s alleged failure to adequately protect the personal information of approximately 15 million customers.
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FTC Announces Enforcement for Inadequate Third-Party Risk Management Practices Under the GLBA’s Safeguards Rule
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On December 15, 2020, the Federal Trade Commission announced a proposed settlement with Ascension Data & Analytics, LLC, a Texas-based mortgage industry data analytics company, to resolve allegations that the company failed to ensure one of its vendors was adequately securing personal information of mortgage holders.
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Takeaways from 100th Anniversary Meeting of German Data Protection Authorities
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Posted in European Union, International
On November 26, 2020, the Conference of the German Data Protection Authorities issued a press release with conclusions from their 100th anniversary meeting. The key issues discussed were the implications of Schrems II on German privacy and cybersecurity.
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FTC Postpones Safeguards Rule Workshop until July
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Posted in Financial Privacy, U.S. Federal Law
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.
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Philippines NPC Investigating COVID-19 Related Breaches
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On April 25, 2020, the Philippines National Privacy Commission issued a statement that it is investigating several breach notifications it has received relating to the unauthorized disclosure of sensitive personal information of confirmed and suspected COVID-19 patients. …
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Irish DPA Issues Guidance to Secure Cloud-Based Environments
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Posted in European Union, International
On March 19, 2020, the Irish Data Protection Authority published guidance to assist organizations in understanding their data security obligations and to mitigate their risks of a personal data breach when using cloud-based services.
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FTC Proposes Changes to GLB Privacy and Safeguards Rules
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Posted in Financial Privacy, U.S. Federal Law
On March 5, 2019, the Federal Trade Commission announced that it is seeking comment on proposed changes to the FTC’s Safeguards Rule and Privacy Rule under the Gramm-Leach-Bliley Act.
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Judge Grants Final Approval of Record Data Breach Settlement in Anthem Class Action
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On August 15, 2018, U.S. District Judge Lucy Koh signed an order granting final approval of the record 115 million dollar class action settlement agreed to by Anthem Inc. in June 2017. …
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China Releases National Standard on Personal Information Security
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On January 25, 2018, the Standardization Administration of China published the full text of the Information Security Technology – Personal Information Security Specification.
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UK ICO Issues Unprecedented Fine Against Mobile Phone Retailer for Lax Security
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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.
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