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Layered Federal and State Cybersecurity Regulation of Financial Services Firms
Cybercrime poses an ever-increasing threat to consumers of financial products and services. In 2016, the then- U.S. Securities and Exchange Commission (SEC) Chair said that cybercrime ranks as “one of the greatest risks facing the financial services industry.” Federal law thus requires financial services firms to implement procedures designed to protect their customers' data. Now individual states are increasingly getting into the game. Two states recently enacted or proposed rules for financial services firms. This may be just the beginning of a national trend toward increased state regulation of cybersecurity matters. Financial services firms and their management should keep a close eye on developing cybersecurity regulations, so as to be better prepared to proactively address the shifting regulatory landscape as it continues to evolve.
Federal Focus on Cybersecurity
The SEC has long focused on cybersecurity procedures at registered investment advisers (IAs) and broker-dealers (BDs). The SEC's examination program included cybersecurity as a priority for many years. The SEC has engaged in outreach discussions with the securities industry about the topic as well.
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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.
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.
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.
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?
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.