The General Data Protection Regulation (GDPR) Act is a broad set of data privacy rules that define how an organization must handle and protect the personal data of citizens of the European Union (EU). The Regulation also outlines the way that organizations can report a data breach. Articles 33 and 34 outline the requirements for breach notification; however, most businesses are still unaware of their responsibilities.
The California Privacy Rights Act (CPRA) is an extension of the 2018 California Consumer Privacy Act (CCPA). The goal of both laws is to enhance the privacy rights of California residents with regards to the personal information that companies collect about them, giving them the right to see, delete and limit the sale of that data. The CPRA will be fully implemented in mid-2023. In this article, we will take a close look at the provisions of CPRA and how it amends the CCPA.
The Digital Operations Resilience Act (DORA) is the European Union’s attempt to streamline the third-party risk management process across financial institutions. A draft of DORA was published by the European Commission on 24 September 2020. Without this act, there isn't an objective Information and Communication Technology (ICT) risk management standard in Europe.
For healthcare organizations, cybersecurity isn’t just about staying safe and protected from evolving cyber threats—it’s also about staying compliant. The most well-known healthcare regulation of them all is the Health Insurance Portability and Accountability Act (HIPAA), which recently celebrated 25 years on the books.
The NYDFS Cybersecurity Regulation (23 NYCRR 500) is a set of regulations from the New York State Department of Financial Services (NYDFS) that places cybersecurity requirements on all Covered Entities (financial institutions and financial services companies). It includes 23 sections outlining requirements for developing and implementing an effective cybersecurity program, requiring Covered Entities to assess their cybersecurity risk and develop a plan to proactively address them.
After several large corporate accounting scandals in the early 2000s that led to investors losing billions of dollars, the US government passed the Sarbanes-Oxley Act of 2002. Commonly referred to as SOX, the bill established and expanded financial and auditing requirements for publicly traded companies in order to protect investors and the public from fraudulent accounting practices.
Since our last update in January, there has been an unprecedented amount of activity in the data privacy world. And yes, we probably do say that every time! New laws have passed in Virginia and Colorado. The UK’s post-Brexit EU adequacy was confirmed. Plus of course, the EU’s significant changes to Standard Contractual Clauses and the reawakening of the debates over Identity Verification, especially in the context of social media.
Although the Sarbanes-Oxley Act of 2002 (SOX) has been around for nearly two decades, many companies still struggle to meet compliance requirements. Initially enacted in response to public companies mishandling financial reporting, SOX is a compliance requirement for all public companies. Understanding SOX compliance, as well as its requirements and controls, helps organizations create more robust governance processes.
A bipartisan Senate bill would require some businesses to report data breaches to law enforcement within 24 hours or face financial penalties and the loss of government contracts. The legislation from Senate Intelligence Chair and Democratic Senator Mark Warner with Republican Senators Marco Rubio and Susan Collins is just one of several new cybersecurity bills that will likely be debated this year. If passed, the bill could require certain U.S.
On May 12, 2021, President Biden signed an executive order calling on federal agencies to improve their cybersecurity practices. Following the recent SolarWinds and Colonial Pipeline attacks, it is clear that security incidents can severely impact the economy and civilians' day-to-day lives and that cybersecurity needs to be a high-priority issue. We encourage you to read the full executive order.
