Given that cyberattacks continue to be sophisticated and severe, and cybersecurity continues to be a top concern for regulators, consumers, business partners, and investors, companies should be proactive and devote adequate resources to their security
Continue Reading 2023 U.S. Cybersecurity Predictions
On December 6, 2022, the European Union’s (EU) Regulation on Artificial Intelligence (AI Act) progressed one step towards becoming law when the Council of the EU (the Council) adopted their amendments to the draft act
Continue Reading Council of the EU Proposes Amendments to Draft AI Act
On October 7, 2022, President Biden signed an Executive Order (Order) on Enhancing Safeguards for United States Signals Intelligence Activities. This marks the latest step towards the new EU-U.S. Data Privacy Framework (Framework), a replacement
Continue Reading President Biden Signs Executive Order to Implement the New EU-U.S. Data Privacy Framework
On September 15, 2022, the European Commission (EC) published a Proposal for a Cyber Resilience Act (CRA Proposal) that sets out new rules in the European Union (EU) for software and hardware products and their remote data processing solutions. The CRA Proposal introduces mandatory cybersecurity-related requirements and reporting obligations, including about product vulnerabilities, for manufacturers, importers, and distributors of such products. The potential sanctions include product withdrawal from the EU market and fines of up to EUR 15 million or 2.5 percent of total worldwide annual turnover for the preceding year.
Continue Reading European Commission Proposes New EU Cybersecurity Rules for Software and Hardware Products
On August 10, 2022, the Consumer Financial Protection Bureau (CFPB) issued a final Interpretive Rule stating that the Consumer Financial Protection Act (CFPA) applies to companies engaged in targeted advertising of financial products and services.
Continue Reading CFPB: New Sheriff in Town for Tech Companies?
On June 3, 2022, members of the U.S. Congress released a bipartisan, bicameral discussion draft of a comprehensive national data privacy and data security framework. The draft is notable in that it reflects a compromise on the two issues that have for years vexed lawmakers angling for federal privacy legislation: preemption and private right of action. The House Energy and Commerce Committee has announced a hearing for June 14 to discuss the draft.
The discussion draft has become widely known as the “three corners” bill, because it has the support of three of the four “corners” of the relevant committees: the Chair and Ranking Member of the House Energy and Commerce Committee and the Ranking Member of the Senate Commerce Committee. Notably, the fourth “corner,” Senate Commerce Committee Chair Maria Cantwell, is circulating her own draft.[1] While there are similarities between the two drafts, the differences reflect the likely sticking points among the negotiators.Continue Reading Privacy Legislation Update: The “Three Corners” Bill and the Cantwell Draft