Latest Posts
Search for:
Author

Cyrus R. Vance Jr.

Browsing
In Cybersecurity

SEC Adopts Final Cybersecurity Rules

by , , , , , , , , , , , , , , , , , , , and 8 Mins Read

In brief On July 26, 2023, the U.S. Securities and Exchange Commission (“SEC”) approved the final rules for Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure (“Final Rules”). As previously reported, the SEC first proposed amendments to its rules on disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies on March 9, 2022 (“Proposed Rules”). Similar to the Proposed Rules, the Final Rules, broadly speaking, require (i) issuers to make disclosures…

In Data Privacy & Security

Utah Signs Bills Regulating Minors’ Social Media Usage

by , , and 3 Mins Read

In Brief On Thursday March 23, Utah Governor Spencer Cox signed two bills — S.B. 152 and H.B. 311 (collectively, the “Utah Social Media Regulation Act”) —that impose new requirements and limitations on children’s use of social media platforms. Background Together, both S.B. 152 and H.B. 311 enact the Utah Social Media Regulation Act, which is set to go into effect on March 1, 2024. Once in effect, S.B. 152 will require social media platforms…

In Podcast

Podcast Episode: Cyber Risk and Resiliency: Key Takeaways from the National Cybersecurity Strategy (Part 2 of 2)

by and 1 Min Read

In the second of this two-part series, Brian Hengesbaugh, Global Chair of Privacy and Security at Baker McKenzie is joined by Cyrus Vance Jr., Global Chair of Cybersecurity, as the two continue their discussion on cybercrime, focusing on the National Cybersecurity Strategy recently released by the White House, which seeks to address cyber risk and resiliency in America. Listen in to hear their views about: The National Cybersecurity Strategy framework, highlighting key takeaways of the…

In Cybersecurity

Podcast Episode: Cyber Risk and Resiliency: A Call to Board Members and Public Companies (Part 1 of 2)

by and 1 Min Read

In the first of this two-part series, Brian Hengesbaugh, Global Chair of Privacy and Security at Baker McKenzie, is joined by Cyrus Vance Jr., Global Chair of Cybersecurity, as the two discuss the alarming increase in cybercrimes, looking broadly at the trends, public safety risks and legal implications for the business community, particularly as it pertains to boards and senior management navigating the current threat landscape. Listen to learn more about: Why it is difficult to…

In Cybersecurity

Buyer Beware: Cyber Diligence in M&A

by , and 5 Mins Read

Trillions of dollars are spent on M&A each year, yet reports suggest that less than 10% of deals integrate cybersecurity into the due diligence process.1 Despite the FBI and private watch dog groups raising multiple warning flags about ransomware groups hitting more and more companies in the middle of significant transactions like M&A, and despite increased focus from the FTC and the SEC on data security failures as legitimate reasons for shareholder and government enforcement…

In Cybersecurity

How Private Public Partnerships Work to Protect Against Cyberattacks (Video)

by 2 Mins Read

On June 14, 2022, Baker McKenzie held its inaugural Cybersecurity Symposium in New York in conjunction with the Association of Corporate Counsel (ACC). It was a thought-provoking day discussing trends and fresh insights from key players in the government and private sector, the ever-changing regulatory landscape, best practices for cyber-readiness and practical advice to manage cyber-threats, data breach response, insurance and related litigation. The following video provides valuable information and key-takeaways in connection with cybersecurity…

In Podcast

Podcast Episode: In Conversation with Cy Vance – Cybersecurity Considerations in the Current Threat Landscape

by and 1 Min Read

In this episode, Brian Hengesbaugh, Global Chair of Data Privacy and Security, is joined by Cy Vance, Global Chair of Cybersecurity based in New York, as they discuss the current cybersecurity threat landscape from a government, enforcement and litigation perspective. Listen in to hear about: Cy’s background as the former Manhattan District Attorney for 12 years, including his experience focusing on cybersecurity issues and building the District Attorney Office’s capability to address emerging threats to…

In Cybersecurity

Congress Publishes “Game-Changer” Breach Reporting Law, Compliance Requirements Unclear

by , , , , , , , , and 6 Mins Read

After years of legislative debate, Congress passed a new law requiring key businesses to report certain data breaches—or “covered incidents”—to the government. Signed by President Biden on March 15, 2022, the law, part of the Strengthening American Cybersecurity Act, requires companies that operate critical infrastructure—financial institutions, utilities, and other organizations—to share information with the Cybersecurity and Infrastructure Security Agency (CISA) about certain cybersecurity incidents within 72 hours and ransomware payments to cyber criminals within 24…

In Cybersecurity

SEC Proposes Broad New Cybersecurity Risk Management Rules for Investment Advisers and Funds

by , , , and 8 Mins Read

Commission Seeks Public Comment on Wide Range of Issues in Proposal On February 9, 2022, the Securities and Exchange Commission (SEC or Commission) voted 3-1, with Commissioner Peirce, the lone remaining Republican appointee opposed, to propose new rules under the Investment Advisers Act of 1940 (Advisers Act) and the Investment Company Act of 1940 (Investment Company Act) related to cybersecurity risk management, reporting of breach events, and recordkeeping for registered investment advisers and investment funds.1 If…