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<b><i>Online Extra:</b></i> SEC to Focus on Cybersecurity Compliance in 2016
In 2016, the U.S. Securities and Exchange Commission will remain focused on assessing cybersecurity efforts by investment adviseors and broker-dealers. The agency's Office of Compliance Inspections and Examinations'announced its 'examination priorities' for the year'on Jan. 13 and cybersecurity protocols were once again a top concern. This is the third year in a row tha cybersecurity protocols made the cut, according to Anne Peterson of McGuireWoods, who'blogged about the OCIE guidance. Here's what Peterson says you have to know:
- Secure? Prove it: 'Security is no longer an academic discussion and ' OCIE examiners will ask hard questions,' warns Peterson. They'll want to know exactly how security measures work and will demand proof that they protect customers.
- Assess and Assess Again: 'Periodic risk assessments, with documented benchmarks for success, are now an integral part of verifying compliance with SEC obligations,' Peterson says. OCIE will want to know that new information about cyberattacks is routinely incorporated into existing security programs.
- Oversight Is Here to Stay: Peterson predicts that the SEC's focus on cybersecurity will continue into 2017. She envisions the 'SEC mandat[ing] that financial firms exchange information regarding cyberattacks to maintain industry awareness of threats to consumer information.'
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In 2016, the U.S. Securities and Exchange Commission will remain focused on assessing cybersecurity efforts by investment adviseors and broker-dealers. The agency's Office of Compliance Inspections and Examinations'announced its 'examination priorities' for the year'on Jan. 13 and cybersecurity protocols were once again a top concern. This is the third year in a row tha cybersecurity protocols made the cut, according to Anne Peterson of McGuireWoods, who'blogged about the OCIE guidance. Here's what Peterson says you have to know:
- Secure? Prove it: 'Security is no longer an academic discussion and ' OCIE examiners will ask hard questions,' warns Peterson. They'll want to know exactly how security measures work and will demand proof that they protect customers.
- Assess and Assess Again: 'Periodic risk assessments, with documented benchmarks for success, are now an integral part of verifying compliance with SEC obligations,' Peterson says. OCIE will want to know that new information about cyberattacks is routinely incorporated into existing security programs.
- Oversight Is Here to Stay: Peterson predicts that the SEC's focus on cybersecurity will continue into 2017. She envisions the 'SEC mandat[ing] that financial firms exchange information regarding cyberattacks to maintain industry awareness of threats to consumer information.'
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?