The following post was originally included as part of our recently published memorandum “Selected Issues for Boards of Directors in 2024”.

In July 2023, the U.S. Securities and Exchange Commission (SEC) adopted final rules to enhance and standardize disclosure requirements related to cybersecurity.  In order to comply with the new reporting requirements of the rules, companies will need to make ongoing materiality determinations with respect to cybersecurity incidents and series of related incidents.  The inherent nature of cybersecurity incidents, which are often initially characterized by a high degree of uncertainty around scope and impact, and an SEC that is laser-focused on cybersecurity from both a disclosure and enforcement perspective, combine to present registrants and their boards of directors with a novel set of challenges heading into 2024.

Continue Reading Crossing a New Threshold for Material Cybersecurity Incident Reporting

On 15 January 2024, the UK Information Commissioner’s Office (“ICO”)[1] launched a series of public consultations on the applicability of data protection laws to the development and use of generative artificial intelligence (“GenAI”). The ICO is seeking comments from “all stakeholders with an interest in GenAI”, including developers, users, legal advisors and consultants.[2]

This first public consultation (which closes on 1 March 2024) focuses on the lawful basis for training GenAI models on web-scraped data.[3]

Continue Reading The UK ICO launches consultation series on GenAI

Saudi Arabia has in the past few years taken strides to update its legislative frameworks to reflect technological advancements, and data protection laws are the latest iterations of such reform. Data protection issues were historically not codified as a standalone law in the country and instead dealt with under what is broadly known as the “sharia” judicial system, which includes the principle of individuals’ right to privacy and safety from encroachment into one’s personal affairs.[1] The spirit of this principle, along with modern interpretations of privacy as applied to personal data, carried over into the Kingdom’s Personal Data Protection Law (the “PDPL”), implemented by Royal Decree M/19 of 17 September 2021 and amended on 21 March 2023.[2] The amended PDPL was published in the official gazette on and formally effective as of September 14, 2023, and entities have an extended grace period of one year (i.e., until September of 2024) to comply.[3] In conjunction with the PDPL, two sets of related regulations were published on the same date – the PDPL Implementing Regulations (the “Implementing Regulations”) and the regulations on personal data transfer (the “Transfer Regulations” and together with the Implementing Regulations, the “Regulations”).[4]

Continue Reading Saudi Arabia’s Data Protection Law and Regulations Come Into Effect

Nearly five years after a landmark Supreme Court ruling, which reiterated that information privacy is a fundamental right enshrined in the Constitution, India finally enacted its Digital Personal Data Protection Act, 2023 (the “DPDPA” or “Act”), on August 11, 2023.

Continue Reading Comparing Global Privacy Regimes Under GDPR, DPDPA and US Data Protection Laws

The Federal Trade Commission (“FTC”) on December 20, 2023[1] proposed a set of revisions to its rules implementing the Children’s Online Privacy Protection Act (“COPPA Rule”).[2]  The COPPA Rule, which became effective in 2000, and was amended in 2013, serves as the FTC’s primary means to enforce the Children’s Online Privacy Protection Act of 1998 (“COPPA”), the principal regulation protecting children (and their personal information) online.  At a high level, the COPPA Rule requires operators of websites online services (i) directed to children[3] or (ii) when not directed to children, that have actual knowledge that they are collecting personal information online from a child; to provide notice to parents and obtain verifiable parental consent before collecting, using or disclosing personal information from their children, as well as to provide parents with opportunities to review, delete and prevent further use or future collection of such information.

Continue Reading FTC Proposes COPPA Rule Revisions Detailing Enhanced Online Privacy Protections for Children

On November 1, the New York Department of Financial Services (“DFS” or the “Agency”) announced finalized amendments to its Cybersecurity Regulation applicable to DFS-regulated entities.[1]  The finalized amendments to the Cybersecurity Regulation (the “Amendments”) contain significant revisions designed to mandate preventative measures to address common attack vectors and enhance cybersecurity governance, bringing more formality and uniformity to the assessment and mitigation of a covered entity’s specific cybersecurity risks.[2]  The Amendments may also portend future changes to cybersecurity regulations outside of DFS, as the original DFS Cybersecurity Regulation influenced many existing cybersecurity requirements in other areas of the law.  

Continue Reading New York Department of Financial Services Finalizes Amendments to Cybersecurity Regulation

Last week, the Federal Trade Commission (“FTC” or “Commission”) finalized its supplemental revisions to the 2021 amendments to its implementation of the Gramm Leach Bliley Act Safeguards Rule (the “Amended Safeguards Rule”).[1]  The supplemental revisions to the Amended Safeguards Rule will require covered non-banking financial institutions—e.g., automobile dealerships, mortgage brokers, payday lenders, retailers that issue credit cards—[2] to report certain security breaches impacting unencrypted customer information to the Commission no later than thirty (30) days after discovery.[3]  The supplemental revisions to the Amended Safeguards Rule will take effect six (6) months after publication in the Federal Register.

Continue Reading FTC Finalizes Security Incident Reporting Amendments to GLBA Safeguards Rule

Continuing to pave the way for enhanced privacy rights for California consumers, on October 10, California Governor Gavin Newsom signed into law S.B. 262, colloquially known as the California Delete Act (the “Delete Act” or the “Act”)). [1]  The Delete Act is the first of its kind in the United States, providing California-based consumers with a more streamlined, user-friendly way to request deletion of their personal information from data brokers. 

Continue Reading California Passes Delete Act Creating More Accountability for Data Brokers

On September 11, Delaware’s governor signed into law the Delaware Personal Data Privacy Act (the “DPDPA” or “Act”),[1] establishing Delaware as the 12th state in the U.S. to enact its own comprehensive data protection law and contributing to the patchwork of U.S. data protection regimes that continue to proliferate in the absence of federal regulation. 

Continue Reading Broad Definition of Sensitive Data and Concern for Children’s and Teenagers’ Data in Delaware Privacy Law Reflect Recent Trends in Evolving Data Protection Landscape

On May 22, 2023, the Irish Data Protection Commission (the “DPC”) published its decision on Meta Platforms Ireland Limited (“Meta”).[1] The decision has wider implications for any company that routinely transfers personal data from the EEA to third countries, in particular, to the US.

Continue Reading Key Takeaways from the Irish Data Protection Commission’s decision on Meta Data Transfers