Cybersecurity

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Merck’s settlement last week over its $1.4 billion claim tied to a 2017 Russian-linked “NotPetya” cyberattack leaves a major question in cybersecurity and international law anything but settled – can a “cyberattack” ever be considered an “attack” under the international laws of war? The insurance dispute is hardly the first time cybersecurity has been linked to nation-state security – as far back as 2014, China’s now President Xi Jinping declared that “without cybersecurity there is no national security” – but how did a major pharmaceutical chain’s insurance claim become a potential battleground for litigating the definition of war in the 21st century?

Continue Reading Merck Insurance Settlement Leaves Debate over Cyberwar and Cyberinsurance Unsettled

Megan Baca moderated Ropes & Gray’s annual “From the Boardroom” panel – held in San Francisco during the 2024 J.P. Morgan Healthcare Conference – which this year looked at the role of artificial intelligence and big data in the context of dealmaking. It can feel hard to escape AI at the moment, with some debate as to whether AI is currently over-hyped or in fact at a transformational tipping point. 

Continue Reading Dealmaking with AI and Big Data – Charting the new frontier in life sciences

In a Law360 article, IP transactions and technology partner Regina Sam Penti, IP transactions counsel Georgina Jones Suzuki and IP transactions associate Derek Mubiru analyzed the recent trend of artificial intelligence (AI) providers offering indemnity shields and urged businesses to exercise caution in relying on these indemnities.

In response to a number of…

On December 20, 2023, the National Institute of Standards and Technology (“NIST”) National Cybersecurity Center of Excellence (“NCCoE”) published its Cybersecurity of Genomic Data report (the “Report”).  The Report aims to assist organizations in protecting against misuse of genomic data and enabling secure collaborative innovations.  Note, however, that the Report is not authoritative with respect to its assessment of the treatment of genomic data under the current U.S. regulatory framework, including with respect to the identifiability of such information.

Continue Reading NIST Cybersecurity Center of Excellence – Cybersecurity of Genomic Data Report 

Not that long ago, financial sector regulations seldom mentioned cybersecurity expressly, instead addressing the issue indirectly through restrictions focused on general system safeguards and omnibus reporting requirements. Gone are those days. Over the past few years, federal and state regulators have increased focus on information security issues impacting financial institutions, introducing a spate of cyber rules that often include stringent regulatory reporting and disclosure requirements. This year was no different.

Continue Reading Making a List and Checking it Twice: The Impact of Cybersecurity Regulations on Financial Services in 2023

On the first Day of Data, we recap a busy year for the Federal Trade Commission (“FTC”), highlighting key enforcement decisions from 2023 and reading the tea leaves for what promises to be an equally active 2024 for the agency on topics ranging from online tracking technologies to artificial intelligence.

Continue Reading Walking in a Data Wonderland: A Look Back at the FTC’s 2023 Privacy Enforcement Actions

On November 13, 2023, New York Governor Kathy Hochul announced the release of proposed statewide hospital cybersecurity regulations that would require state-licensed hospitals to establish cybersecurity programs, policies and procedures (the “Proposed Regulations”). The Proposed Regulations feature requirements regarding cybersecurity policies and procedures, personnel, user authentication methods, security risk assessments, incident response plans, and two-hour…

On November 1, 2023, New York Governor Kathy Hochul announced that the New York Department of Financial Services (“NYDFS”) finalized amendments to its Part 500 Cybersecurity Regulations (“Final Amendments”)—the first significant change to the regulations since their inception in March 2017. The Final Amendments generally track previous NYDFS proposed amendments—including the November 9, 2022 proposal that we covered here—with certain important changes.

Continue Reading NYDFS Finalizes Significant Amendments to its Cybersecurity Regulations

On July 26, 2023, the Securities and Exchange Commission (the “SEC”) voted 3–2 to adopt rules requiring public companies to disclose material cybersecurity incidents as well as information regarding their cybersecurity risk management, strategy, and governance (the “Cybersecurity Disclosure Rules” or “Final Rules”).1 The Final Rules require disclosure of “material cybersecurity incidents”. The disclosure must be made within four business days from the date on which a cybersecurity incident is determined to be “material” as opposed to four business days from the date on which the occurrence of an incident is discovered; although, that distinction may be difficult to implement in practice. Covered entities, which include all issuers that file annual reports on Form 10-K or Form 20-F, should promptly review their cybersecurity protocols and procedures to address further required disclosure items.2

Continue Reading SEC Adopts Final Rules on Public Company Cybersecurity Disclosures