The DFS Rule imposes a host of specific requirements upon entities operating pursuant to a license, registration, charter, or similar authorization under New York’s Banking, Insurance, or Financial Services Laws (the “Covered Entities”) relating to the development and functionality of cybersecurity programs. Among other things, an entity’s program must protect nonpublic information and the confidentiality, integrity, and availability of information systems. The Rule calls for written policies and procedures, risk assessments, monitoring and testing, audit trails, access controls, application security, third party service provider cybersecurity standards, encryption, data retention, specific hiring and training practices, incident response planning, notification to the DFS regarding cybersecurity events, and annual compliance certifications. A covered entity must designate a Chief Information Security Officer to oversee and implement its cybersecurity program, … [Read more...] about New York State Department of Financial Services Cybersecurity Regulation Poised to Reshape Existing Regulatory Landscape
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Step 6: Create a Written Compliance Policy. It is an unfortunate fact that Step 6—the drafting of the compliance manual—is often Step 1 for many companies. But there is considerable groundwork to cover before the organization should begin the actual drafting of the compliance manual, including the performance of a risk assessment and establishment of the culture of compliance. The written manual should accurately summarize the regulations, using plain language that employees without legal training can readily follow. The focus should be on readability and tailoring the policy to the risk and business profile of the company, not trying to cover every nuance of the legal regime at issue. … [Read more...] about Foreign Corrupt Practices Act and New Trump Administration: Your Top Ten Questions Answered
CBO Report on CCSOn June 28, the Congressional Budget Office, at the request of the Senate Energy and Natural Resources Committee, released the report, Federal Efforts to Reduce the Cost of Capturing and Storing Carbon Dioxide, finding that carbon capture and storage (CCS) is still too expensive to be commercially viable, despite $6.9 billion in funding to the Energy Department since 2005 to develop and demonstrate the technology. The Obama administration argues that in the next 4 years, six CCS projects will be in operation, and the technology will make economic sense within ten years. The CBO report concurs, but only if the CCS is adopted on a sufficiently large scale and that, the report says, seems somewhat unlikely because using CCS at a coal-fired electrical generating plant would raise costs by an average of 75%. A carbon tax or emissions trading scheme are the only policy mechanisms that might make the technology feasible. In addition to a carbon tax, the report argued for … [Read more...] about Energy and Environment Law Update – July 2, 2012
Over the course of the year, the Northwestern students will meet once a week for a regular seminar. They spend the remainder of their clinic time—an expected 12-16 hours or more per week—working in teams on research; writing petitions for writs of certiorari, and merit and amicus briefs; and assisting with moot courts. The school was granted its first cert petition in June for Gall v. United States, and Green argued it. In December, the court also gave the school a victory, holding that the sentencing judge didn’t abuse his discretion in granting Brian Michael Gall probation instead of imprisonment. 128 S. Ct. 586. … [Read more...] about Taking the Firm to SCOTUS School
Although Chadbourne has been looking for a merger partner at least since last fall, this is the first time that talks have progressed to a point where a potential marriage prospect was named, the magazine says. Meanwhile, several partners have departed recently, including Abbe Lowell, a white-collar defense lawyer who left in April to join McDermott Will & Emery. … [Read more...] about Chadbourne, London Firm to Merge?