Tim Crino, Author at ADCG

New York DFS Issues New Cybersecurity Guidance

November 7, 2021
Tim Crino
Compliance, Cybersecurity, Financial Services, New York State

Under New York’s Cybersecurity Regulation, issued in 2017, any entity (a “Covered Entity”) regulated by the New York State Department of Financial Services (DFS) must maintain a risk-based cybersecurity program that protects its information systems and nonpublic data. For years, DFS has allowed Covered Entities to adopt the cybersecurity program of an affiliate. This has…

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Massachusetts Introduces Revolutionary Privacy Bill

October 16, 2021
Tim Crino
Consumer Privacy, Data Privacy, Data Protection, Legislation, State Laws

The Massachusetts Senate began deliberating a new privacy law this year. The Massachusetts Information Privacy Act (MIPA) could be one of the strongest data privacy laws in the United States, if passed. Representatives Andy Vargas and Dave Rogers and Senate Majority Leader Cynthia Creem introduced the bill, which currently sits before the Joint Committee on…

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Senate Introduces Ransomware Notification Mandate

October 9, 2021
Tim Crino
Breach response, Cybersecurity, Legislation, Ransomware, Senate

The US Senate has introduced a bill that would require businesses with more than 50 employees to report ransomware payments within 24 hours. (S. 2666), the “Sanction and Stop Ransomware Act of 2021,” was introduced by the Senate Homeland Security Committee and Governmental Affairs Committee and also would apply to nonprofits, state and local government…

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UK Ranks Second Highest in GDPR Fines

September 28, 2021
Tim Crino
Compliance, European Union, GDPR, Penalties and Enforcement, United Kingdom

A new report from cybersecurity company ESET found that the UK ranks second highest in average GDPR fine value ($10 million), despite issuing the lowest number (five) of GDPR fines in the EU. Spain issued the highest number of fines (273), while Luxembourg issued the highest value fines. The report found that more than 650…

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France Moves to Stop Data Sharing with US

September 21, 2021
Tim Crino
Cybersecurity, Data Privacy, Data Protection, Data Sharing, European Union, France

Under the CLOUD Act, companies registered in the United States are obligated to share with U.S. authorities data belonging to foreign entities. France’s top cybersecurity official, Guillaume Poupard is working to stop that practice. Poupard, who is the director general of ANSSI–France’s cybersecurity agency–wants to stop cloud providers like Microsoft, Amazon, and Google from sharing…

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UAE Moves to Regulate Data Privacy

September 11, 2021
Tim Crino
Consumer Privacy, Data Privacy, Data Protection, Privacy, UAE

The United Arab Emirates (UAE) this week announced plans to move forward with a federal data privacy protection law. Aptly titled the Data Protection Law, the proposed legislation is the first of its kind in the UAE, and comes out of a charter of ten strategic principles called the “Principles of 50,” which are designed…

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SEC Doubles Down on Safeguards Rule Enforcement

September 9, 2021
Tim Crino
Banks, Breach Notification, Breach prevention, Breach response, Broker Dealers, Compliance, Cybersecurity, SEC

The Securities and Exchange Commission issued sanctions against three financial services companies last week. The sanctions came in response to a series of email-takeover attacks in which Personally Identifiable Information (PII) was exposed. In each case, the SEC found that the firms failed to implement proper cybersecurity measures against breaches. Each firm was found responsible…

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Illinois Passes Law Protecting Household Device Data

September 2, 2021
Tim Crino
Data Privacy, Illinois, Legislation, State Laws

Last week, the Protecting Household Privacy Act (PHPA) became law with Governor JB Pritzker’s signature. The law, which takes effect Jan 1, 2022, stops law enforcement officials from acquiring household electronic data from third-parties without a warrant or consent. The type of data protected by the new law includes any electronic communication–provided by a human–that’s…

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Switzerland and United Kingdom Issue Guidance for Data Transfers to SEC

August 19, 2021
Tim Crino
Compliance, Data Privacy, European Union, GDPR, Privacy Shield, SEC, Switzerland, United Kingdom

Businesses and organizations registered with the U.S. Securities and Exchange Commission are often required to share personally identifiable information (PII) with the regulatory body. But for entities that have operations outside of the U.S., complying with SEC requests has created a legal conundrum since the European Court of Justice’s Schrems 2.0 ruling–which invalidated the EU-U.S.…

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Infrastructure Bill Allocates Nearly $2 Billion to Cybersecurity

August 12, 2021
Tim Crino
Breach Notification, Breach prevention, Breach response, Congress, Cybercrime, Cybersecurity, Federal Trade Commission (FTC), Governance, Legislation

On Tuesday, the U.S. Senate approved a $1 trillion infrastructure package, which it has passed along to the House for approval. The package includes a variety of bills that allocate spending toward critical infrastructure, including roads, railways, bridges, electric vehicles, and telecom companies. The package also allocates more than $1.9 billion toward cybersecurity. The move…

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