On October 30, 2023, the U.S. Securities and Exchange Commission announced charges against SolarWinds Corporation and its Chief Information Security Officer, Timothy G. Brown, for fraud and internal control failures relating to allegedly known cybersecurity risks and vulnerabilities.
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Securities and Exchange Commission
Reducing Risks from Cyber Incidents with Cyber and D&O Insurance
Hunton recently published a client alert discussing the importance of cyber and directors and officers liability insurance for companies and their executives to guard against cyber-related exposures. This blog entry provides a link to download the client alert.
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SEC Adopts Final Public Company Cybersecurity Disclosure Rules
On July 26, 2023, the U.S. Securities and Exchange Commission adopted long-anticipated disclosure rules for public companies by a 3-2 party-line vote. The final rules apply both to U.S. domestic public companies, as well as any offshore company that qualifies as a “foreign private issuer” under SEC rules due to a strong nexus to the U.S. capital markets. The new rules are effective as soon as December 18, 2023, and we provide further details in this blog post.
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SEC Advances Three New Cybersecurity Rule Proposals
On March 15, 2023, the Securities and Exchange Commission proposed three rules related to cybersecurity and the protection of consumers’ information.
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SEC Brings Cyber Disclosure Enforcement Action
On March 9, 2023, the U.S. Securities and Exchange Commission announced settled administrative charges against Blackbaud Inc.
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2022 Retail Industry Year in Review
On January 25, 2023, Hunton Andrews Kurth’s retail industry team released its annual Retail Industry in Review publication, which provides an overview of key issues and trends that impacted the retail sector in the past year, as well as a preview of relevant legal issues retailers can expect to arise in 2023.
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SEC Fines Morgan Stanley $35 Million for Alleged Failure to Protect Customer Data
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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The SEC Charged Several Individuals and Entities in a Fraudulent Hacking Scheme
On August 16, 2022, the Securities and Exchange Commission charged 18 individuals and entities in relation to their involvement in a fraudulent hacking scheme. …
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T-Mobile to Pay $500 Million to Settle Claims Related to 2021 Breach
On July 22, 2022, T-Mobile entered into an agreement to settle a class action lawsuit stemming from its 2021 data breach. …
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President Biden Issues Executive Order on Digital Assets
On March 9, 2022, the Biden Administration released its much-anticipated “Executive Order on Ensuring Responsible Development of Digital Assets”. …
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