With innovation in data collection and monetization continuing to accelerate and concerns about data protection, privacy and cybersecurity prompting ever-greater global scrutiny, boards and senior executives require sophisticated counsel to assess and navigate risks around the use of customer, business partner or employee data. We help clients establish oversight and compliance frameworks that reduce the potential for large-scale data breaches or cyber incidents, manage and mitigate fast-moving crises when they occur, and respond to related litigation.
Client News
SIFMA Wins SEC Order in High-Stakes Liability Dispute With National Securities Exchanges
Representing the U.S. broker-dealer industry and its industry organization Securities Industry and Financial Markets Association (SIFMA), Paul, Weiss secured a favorable order by the Securities and Exchange Commission in a high-stakes liability dispute with the national securities exchanges.
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Lorin Reisner to Discuss Cybersecurity at Securities Enforcement Forum 2021
Litigation partner Lorin Reisner will participate in a panel, “The SEC’s Focus on Cybersecurity – Disclosure, Enforcement and Key Guidance for 2021,” as part of Securities Docket’s Securities Enforcement Forum 2021.
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FTC Updates Safeguards Rule for Consumer Financial Information
The Federal Trade Commission recently announced updates to its Safeguards Rule, which will expand data security protections that non-bank financial institutions must implement to secure customer financial information.
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Roberto Gonzalez Speaks on Nasdaq and DirectorCorp’s Data Trends Panel
Litigation partner Roberto Gonzalez recently participated in “Avoiding the Corporate Crisis,” a conference hosted by DirectorCorps and Nasdaq. Roberto’s panel, “Cybersecurity, Artificial Intelligence & Data: What You Should Know Now,” discussed the major data security and privacy issues and trends that corporate leaders should be aware of.
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The Cyberspace Solarium Commission’s Final Report and Recommendations Could Have Implications for Business
On March 11, 2020, the Cyberspace Solarium Commission (the “CSC” or the “Commission”)[1] published its Final Report,[2] which is the culmination of nearly a year of work, including approximately 30 meetings and 300 interviews.
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SIFMA Successfully Resolves Landmark SEC Proceeding With National Securities Exchanges
Representing the U.S. broker-dealer industry and its industry organization, Securities Industry and Financial Markets Association (SIFMA), Paul, Weiss secured a highly favorable outcome in an unusual, high-stakes liability dispute with the national securities exchanges.
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Mitigating Cybersecurity Risks Related to the Coronavirus
To limit the spread of COVID-19, many companies are implementing contingency plans for employees to work remotely. These steps may, however, inadvertently increase the risks of a data breach or other cyberattack. We suggest practical considerations to mitigate those risks.
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Ring LLC Faces a Proposed Class Action Alleging Camera Doorbells Should Incorporate Enhanced Cybersecurity Features
On December 26, 2019, Amazon and Ring LLC were named as defendants in a putative class action filed in the U.S. District Court for the Central District of California by plaintiffs alleging claims of over $5 million.
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Recent Cyber Attacks Target Asset Management Firms
A recent flurry of cyber attacks on asset managers should remind asset management firms and other financial institutions that they are attractive targets for cyber-exploitation and need to remain vigilant and institute appropriate preventative controls and monitoring procedures, as well as post-attack action plans.
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Google and YouTube Pay Record $170 Million Fine for Allegedly Violating Children’s Privacy Law in Settlement with the FTC and the New York Attorney General
On September 4, 2019, the Federal Trade Commission (the “FTC”) and the New York Attorney General’s Office (the “NYAG”) reached a record $170 million settlement with Google and YouTube for alleged violations of the Children’s Online Privacy Protection Act (“COPPA”), a federal law that prohibits companies from collecting children’s personal information online without first notifying parents and obtaining their consent.
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Jeannie Rhee Joins Paul, Weiss From the Mueller Special Counsel's Office
Jeannie Rhee, a former U.S. Deputy Assistant Attorney General, is joining the firm as a partner in the Litigation Department.
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New York Governor Signs Data Security Law
On July 25, 2019, New York Governor Andrew M. Cuomo signed into law a new data security law, the Stop Hacks and Improve Electronic Data Security (“SHIELD”) Act.
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Jeannie Rhee Quoted in Article on Importance of Data Privacy
Litigation partner Jeannie Rhee was quoted in a July 24 Tech Wire Asia article discussing the increase in regulatory and legal actions against organizations as global data privacy and protection standards have changed.
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