For those following data privacy and consumer data protection trends, it should come as no surprise that enacting comprehensive legislation to regulate companies’ use of personal data has continued to be a focal point both internationally and in the U.S., at the federal, state and local levels.
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Cybersecurity: Data Breaches, Ransomware Attacks and Increased Regulatory Focus
A 2021 survey of chief legal officers demonstrated that cybersecurity has overtaken compliance as the most significant legal risk that businesses face today. This should not come as a surprise as 2021 brought a series of high-profile cyberattacks on major companies and U.S. infrastructure targets.
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Cleary Gottlieb Welcomes Back Anthony M. Shults, Former Acting Deputy Assistant Attorney General and Senior Counsel at the Department of Justice
We are delighted that Anthony M. Shults has rejoined Cleary Gottlieb as a senior attorney from the U.S. Department of Justice (DOJ), where he served as acting Deputy Assistant Attorney General and Senior Counsel in the Office of Legal Policy and as Attorney-Advisor in the National Security Division. He is based in our New York office and will focus on cybersecurity, data privacy, and emerging technologies, as well as securities, appellate, and complex commercial litigation.
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Banking Regulators Approve Final Rule Establishing Cyber Incident Notification Requirements
On November 18, 2021, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Board of Governors of the Federal Reserve System (Board) announced a final rule requiring banking organizations to notify their primary regulator of certain significant computer-security incidents as soon as possible and no later than 36 hours after they occur.[1] The rule separately requires bank service providers to notify their bank customers if they experience a cyber incident that causes, or is reasonably likely to cause, a material disruption of services that lasts for four or more hours.
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UK Supreme Court Rules in Favour of Google in Data Protection Class Action Claim
On 10 November 2021, the Supreme Court of the United Kingdom handed down its much-awaited judgment in the case of Lloyd v Google LLC [2021] UKSC 50. The Supreme Court unanimously ruled that the claim, which is a representative action alleging breaches of the Data Protection Act 1998 (“DPA 1998”), could not proceed.
The Supreme
The New Commission SCCs for Data Transfers under GDPR – More Questions than Answers?
The past few years have brought monumental changes to how we handle international data transfers from the EU. Schrems I, GDPR, Schrems II, Brexit and now the new Standard Contractual Clauses, published in June, 2021.
Here we share our views on improvements and challenges this modernised version of the SCCs has brought and how it
The Centennial State Claims a New Number: Colorado to Become Third State in the U.S. to Enact Comprehensive “Privacy Act”
Colorado is set to become the third state in the nation to enact comprehensive privacy legislation with the passing of SB 21-190, more commonly known as the Colorado Privacy Act (“ColoPA” or the “Act”). Governor Jared Polis is expected to sign the ColoPA into law in the coming days, after which
Robinhood Sued For Failing To Protect Customers’ Accounts
Recent developments in a lawsuit have illustrated the importance of maintaining sufficient data security measures and responding adequately to data breaches, which topics are addressed in Cleary Gottlieb’s Global Crisis Management Handbook in depth. A class-action lawsuit in the Northern District of California against Robinhood Financial, LLC, a securities trading platform, alleges that unauthorized users
The “New” Dominion of Privacy Law: Virginia Becomes Second State to Pass Comprehensive Consumer Data Privacy Act
Last month, the Virginia Consumer Data Protection Act was signed into law, making Virginia the second state in the nation to enact comprehensive data privacy legislation. The Act resembles and adopts some terms from the California Consumer Privacy Act (“CCPA”); the California Privacy Rights Act of 2020, which amends and expands the CCPA; and the
ADGM enacts new Data protection Regulations 2021
On 11 February 2021, the Abu Dhabi Global Market (“ADGM”), Abu Dhabi’s financial free zone, enacted the new Data Protection Regulations 2021 (the “Regulations”), replacing the Data Protection Regulations 2015 in their entirety and bringing the ADGM regime closer to the European Union’s data protection regime under the General Data Protection Regulation (“GDPR”).
Our alert memo, published at the end of 2020 following the ADGM’s opening of a public consultation period on the draft Data Protection Regulations 2020 (the “Draft Regulations”), provides an overview of the key features of the Draft Regulations, areas of overlap with the GDPR, as well as certain proposed departures from the GDPR that will need to be monitored by organisations doing business in both the ADGM and the European Union.
The Regulations are applicable to those processing personal data where a controller or processor has been established in the ADGM, regardless of whether the processing actually takes place in the ADGM or not.
We set out below an update to our alert memo, highlighting the few notable additions/amendments to the Draft Regulations as compared with the final Regulations published on 11 February 2021.
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