Tag Archives: Securities and Exchange Commission

Chinese Hackers Fined for Hack of New York Law Firms

On May 5, 2017, the U.S. District Court for the Southern District of New York entered a default judgment in favor of the SEC against three Chinese defendants accused of hacking into the nonpublic networks of two New York-headquartered law firms and stealing confidential information regarding several publicly traded companies engaged in mergers and acquisitions.… Continue Reading

Email Privacy Act Reintroduced in Congress

On January 9, 2017, Representatives Kevin Yoder (R-KS) and Jared Polis (D-CO) reintroduced the Email Privacy Act, which would amend the Electronic Communications Privacy Act to require government entities to obtain a warrant, based on probable cause, before accessing the content of any emails or electronic communications stored with third-party service providers, regardless of how long the communications have been held in electronic storage by such providers.… Continue Reading

Pharmaceutical Company to Plead Guilty and Settle Drug Marketing Charges

Recently, Aegerion Pharmaceuticals announced that it will enter into several settlements and plead guilty to two misdemeanors in connection with alleged violations of HIPAA, drug marketing regulations and securities laws. The criminal charges stem from the company’s marketing of a cholesterol drug called Juxtapid. Aegerion allegedly failed to comply with risk evaluation and management strategies and … Continue Reading

CII Issues Investor-Engagement Guide on Cyber Risk

Recently, the Council of Institutional Investors issued a guide to shareholder engagement on cyber risk. The guide is intended to enable shareholders to ask appropriate questions of boards to gauge whether companies are taking proper steps to mitigate cyber risk.… Continue Reading

SEC Announces Settlement Order and Publishes Investor Alert

On September 22, 2015, the Securities and Exchange Commission announced a settlement order with an investment adviser for failing to establish cybersecurity policies and procedures, and published an investor alert entitled Identity Theft, Data Breaches, and Your Investment Accounts.… Continue Reading

SEC Cybersecurity Investigations: A How-to Guide

Hunton & Williams LLP partners Lisa Sotto, Scott Kimpel and Matthew Bosher published an article in Westlaw Journal's Securities Litigation & Regulation on SEC Cybersecurity Investigations: A How-to Guide. This blog entry provides a link to download a copy of the article.… Continue Reading

SEC Issues New Guidance on the Use of Social Media

Hunton and Williams' Corporate Governance team reports on the Securities and Exchange Commission’s new guidance concerning the use of social media in certain securities offerings, business combinations and proxy contests. This blog post includes a link to a PDF version of the team’s client alert on this topic.… Continue Reading

Puerto Rico Health Insurer Reports Record Fine Following PHI Breach Incident

Triple-S Management Corporation reported in a recent SEC filing that its health insurance subsidiary, Triple-S Salud, Inc., has been notified by the Puerto Rico Health Insurance Administration that the Administration will impose a $6.8 million civil monetary penalty on the insurer in connection with a data breach that occurred in September 2013. … Continue Reading

SEC and CFTC Adopt Rules on Red Flags and Identity Theft

On April 10, 2013, the Securities and Exchange Commission and the Commodity Futures Trading Commission jointly adopted rules that require broker-dealers, mutual funds, investment advisers and certain other regulated entities to adopt programs designed to detect red flags and prevent identity theft.… Continue Reading

Disclosure of Cybersecurity Risks in SEC Filings on the Rise

Perhaps partly in response to the Obama Administration’s Executive Order concerning cybersecurity risks, an increasing number of large financial institutions disclosed cyber attacks and related vulnerabilities in the 2012 annual reports they recently filed with the Securities and Exchange Commission. … Continue Reading
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