ELTENI'S CYBER SCOOP Latest News In this newsletter, we uncover an SEC Director’s op-ed on disclosure rules. A major international cybersecurity crackdown by law enforcement. The SEC op-ed on disclosure rules. REGULATORY CORNER SEC Director of Corporation Finance weighs in on Cybersecurity Disclosures Rules The Director of the SEC’s Division of Corporation Finance provided his
ELTENI'S CYBER SCOOP Latest News In this newsletter, we uncover additional regulatory rules being approved for Clearing Agencies. Also, the numbers are in, and enforcement actions are up, including SEC settled charges against a broker-dealer and a software company for allegedly providing misleading information regarding cyber incidents. Lastly, the proposed cybersecurity rules for RIAs
ELTENI'S CYBER SCOOP Latest News In this newsletter, we uncover a major cybersecurity revelation. The SEC has taken action against SolarWinds Corporation and its CISO, Timothy G. Brown, for alleged fraud and internal control lapses tied to cybersecurity risks. Want to download this in pdf? Enter the password from the email you received.
LastPass, a popular password management service, has revealed that malicious actors have gained access to unencrypted customer data, including web URLs, email addresses, company names, billing addresses, telephone numbers, and IP addresses of LastPass customers, as well as encrypted copies of customer password vaults. This information was compromised using previously stolen data from a breach in
On July 29, 2022, the New York Department of Financial Services (NYDFS) provided several potential enhancements to the existing Part 500 Cybersecurity Rules. The Draft Amendments can be divided into six categories: Assessments, Technical Requirements, Governance, Obligations for Larger Companies, Notifications, and Penalties. Assessments The Draft Amendments expand the current definition of Risk Assessment to
The New York Department of Financial Services ("NYDFS") has charged First American Insurance company with multiple section code violations pertaining to cyber security policies. This is NYDFS's first time charging a company for not adhering to their Cybersecurity Regulation Part 500 of Title 23. The charges held against First American are as follows: Deficient cybersecurity
In October 2021, the Federal Trade Commission (FTC) stated that it would expand its Safeguards Rule in order to better protect consumer financial information from cyber attacks and security breaches. The revised Rule requirements will take effect on December 9, 2022. This is a significant development for private funds that were previously exempt from the
You probably heard the news this weekend about the new critical remote code execution vulnerability affecting Apache log4j 2. A remote code execution vulnerability is an attack that can be launched from anywhere in the world, as long as an affected system is available remotely. Why is important? The vulnerability affects millions of devices, including
Ransomware, the word alone evokes fear into many companies. How did this form of crime actually start? In 1989, Dr. Joseph L. Popp created the first ransomware called the "AIDS Trojan." This trojan virus encrypted files on a computer after rebooting a number of times. Fast forward to 2006, Archiveus, a computer virus that affected
Apple has released an emergency security update to address vulnerabilities in iOS and iPadOS for a zero-click zero day exploit that allows the installation of malware on a device. An attacker could exploit these vulnerabilities to take control of an affected device if they are unpatched. "Attacks like the ones described are highly sophisticated, cost
