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Navigating the SEC's New Cybersecurity Disclosure Rules
In December of 2020, SolarWinds Corp. publicly acknowledged a major cyberattack that resulted in supply chain compromise and headline discussions about national security and data security. On Oct. 20, 2023 the U.S. Securities and Exchange Commission (SEC or Commission) charged SolarWinds and its chief information security officer (CISO) with fraud for allegedly failing to disclose known material cybersecurity risks and vulnerabilities.
While the complaint references the cyberattack, the lawsuit notably focuses more on SolarWinds' allegedly "poor cybersecurity practices" and lack of internal controls, and, for the first time, implicates a CISO personally.
The SolarWinds complaint came amidst an ongoing trend of SEC cybersecurity-related enforcement, such as charges brought in 2019 against First American Title Insurance Company, and in 2021 against various broker-dealers and investment advisers, all focused on purported failures to implement adequate cybersecurity controls and procedures and, in particular, deficiencies in internal reporting.
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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.
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.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.
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.
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.