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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…

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 this episode, Paul Glass, head of Cybersecurity in the UK, is joined by Teresa Michaud, co-chair of the North America Class Action subgroup, and Stephen Reynolds, partner based in Chicago, as they discuss consumer class actions in relation to data breaches and security incidents. Listen in to hear about: overriding themes that have characterized the last year of US class action litigationcybersecurity and data privacy trends and significant developments in the class action space,…

In this episode, Brian Hengesbaugh, Global Chair of Data Privacy and Security, is joined by Stephen Reynolds, partner in Chicago, as they discuss the Strengthening American Cybersecurity Act, a law recently signed by President Biden, which requires key businesses to report certain ransomware incidents to the Cybersecurity and Infrastructure Security Agency (CISA). Listen in to hear about: An overview of the new law, including key elements such as mandatory reporting requirements, timelines and which “critical…

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 brief On March 9, 2022, the U.S. Securities and Exchange Commission (“SEC”) proposed amendments to its rules on disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies. These rules are intended to enhance and standardize cybersecurity disclosures, and, if adopted in their current form, would require public companies to disclose cybersecurity-related policies, procedures and all material cybersecurity incidents. Key takeaways On March 9, 2022, the SEC proposed new disclosure requirements…

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…

A flaw in a widely used software threatens system security and makes companies vulnerable to cyber threats. The Apache Software Foundation released an advisory that Apache Log4j versions up to and including 2.14.1 has a defect that may allow threat actors to execute arbitrary code and deploy viruses including ransomware on that IT infrastructure. Entities that directly or indirectly leverage this software should act with haste to mitigate the risk of a data incident. These…

In this episode of Connect On Tech, your host Brian Hengesbaugh is joined by Stephen Reynolds, data privacy and security partner in our Chicago office, to highlight developing trends surrounding the Log4j security vulnerability. In this episode, you will learn about: Log4j: what it is and why it’s importantWhat organizations should be doing to prepare for and prevent a security eventLegal risks and potential issues associated with this vulnerability https://open.spotify.com/episode/79ufz5Zr1z9MDDrCnbYdEm Want to Learn More?Stay tuned…

As predicted in our Connect on Tech discussion in March, the U.S. Securities and Exchange Commission (“SEC”) is ramping up its examination and enforcement focus on cybersecurity at financial institutions, including scrutiny on actual implementation and deployment of published procedures in response to discovery of cyber breach incidents. Furthermore, the SEC appears to signal its expectation that multi-factor authentication (“MFA”) for email accounts containing sensitive client and customer information should be in place. Email Account…