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Do you get Bragging Rights if the Malware Infecting your Computer was Named after Zeus?

April 17, 2017

Authors

Jerry Blanchard and David Zetoony

Do you get Bragging Rights if the Malware Infecting your Computer was Named after Zeus?

April 17, 2017

by: Jerry Blanchard and David Zetoony

Over the last decade as the specter of cyber attacks has increased dramatically, financial institutions have been encouraged to look into the use of cyber fraud insurance as one means of minimizing risk. A recent decision by the 8th Circuit provides an interesting opportunity to see how such policies are going to be interpreted by the courts.

In 2011, an employee at Bellingham State Bank in Minnesota initiated a wire transfer through the Federal Reserve’s FedLine Advantage Plus system (FedLine). Wire transfers were made through a desktop computer connected to a Virtual Private Network device provided by the Federal Reserve. In order to complete a wire transfer via FedLine, two Bellingham employees had to enter their individual user names, insert individual physical tokens into the computer, and type in individual passwords and

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Preventing Your Own Peach Breach

November 24, 2015

Authors

Bryan Cave

Preventing Your Own Peach Breach

November 24, 2015

by: Bryan Cave

A Crash Course on Data Breach and Cyber Security

The recent disclosure by the Georgia Secretary of State of voter’s Social Security Numbers has caused a number of our clients – particularly those based in Georgia – to request additional information concerning how to prevent and respond to data security incidents.

To that end we have gathered together our recorded materials on effective breach prevention and response into a suggested week long training program with one suggested hour of programming every day the week following Thanksgiving. Celesq, the company that maintains the recordings of our programs, has agreed to waive the fee for any of our clients that wish to access them during the week.

  • Monday, November 30th: Data Security Boot Camp: A Crash Course in the Law
  • Tuesday, December 1st: Investigating Data Breaches: A Guide for In-House Counsel
  • Wednesday, December 2nd: Cyber-Insurance
  • Thursday, December 3rd:
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FDIC Examinations and Cyberattack Risk

May 7, 2015

Authors

Jerry Blanchard and David Zetoony

FDIC Examinations and Cyberattack Risk

May 7, 2015

by: Jerry Blanchard and David Zetoony

FDIC bank examinations generally include a focus on the information technology (“IT”) systems of banks with a particular focus on information security. The federal banking agencies issued implementing Interagency Guidelines Establishing Information Security Standards (Interagency Guidelines) in 2001. In 2005, the FDIC developed the Information Technology—Risk Management Program (IT-RMP), based largely on the Interagency Guidelines, as a risk-based approach for conducting IT examinations at FDIC-supervised banks. The FDIC also uses work programs developed by the Federal Financial Institutions Examination Council (FFIEC) to conduct IT examinations of third party service providers (“TSPs”).

The FDIC Office of the Inspector General recently issued a report evaluating the FDIC’s capabilities regarding its approach to evaluating bank risk to cyberattacks. The FDIC’s supervisory approach to cyberattack risks involves conducting IT examinations at FDIC-supervised banks and their TSPs; staffing IT examinations with sufficient, technically qualified staff; sharing information about incidents and cyber risks with regulators and

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April 2014 Client Alerts

April 28, 2014

Authors

Bryan Cave

April 2014 Client Alerts

April 28, 2014

by: Bryan Cave

Practice groups throughout Bryan Cave often prepare alerts on issues of interest to our clients and friends. Listed below are the Client Alerts published in April 2014.  Please click on the title to read the full text of the Alert.

 U.S. Supreme Court Clarifies Test For Standing to Sue Under Federal False Advertising Statute And Rejects Test Used by Several Circuits to Prohibit Suits Brought By Non-Competitor Businesses, published by the Commercial Litigation, Intellectual Property and Trademarks practice groups on April 1, 2014.

The Australian Privacy Principles:  They don’t apply to me, do they?, published by the Data Privacy and Security team, April 1, 2014.

SEC Convenes Cybersecurity Roundtable:  Highlights Importance of Cybersecurity for Public Companies and Financial Market Participants, published by the Corporate Finance and Securities practice group and Data Privacy and Security Team, April 4, 2014.

Now It Gets Personal:  Department of Justice Obtains its First

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February 2014 – Bryan Cave Client Alerts

February 28, 2013

Authors

Bryan Cave

February 2014 – Bryan Cave Client Alerts

February 28, 2013

by: Bryan Cave

Practice groups throughout Bryan Cave often prepare alerts on issues of interest to our clients and friends.  Listed below are the client alerts published in January 2014.  Please click on the title to read the full text of the Alert.

Voluntary for Now:  Federal Cybersecurity Framework Likely to Become the Base-Line Requirement for Critical Infrastructure Organizations and, Potentially, Many Other Businesses, published by the National Security Data Privacy and Security Team, February 20, 2014.

Managing Legal Risks:  Trends in Data Privacy & Security Class Action Litigation, published by the Data Privacy and Security Team, February 27, 2014.

Bankruptcy Court Limits Credit Bid Right In An Unnecessarily “Rushed” Sale Process, published by the Bankruptcy, Restructuring and Creditors’ Rights Practice, February 14, 2014.

Proposed Regulation Would Limit Ability to Restrict Public Disclosure of Product Information Submitted to the CPSC, published by the Consumer Protection and Data Privacy Practice, February

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July 2012 Client Alerts

August 4, 2012

Authors

Bryan Cave

July 2012 Client Alerts

August 4, 2012

by: Bryan Cave

Two Key Rulings of the Supreme Court

A “Common Sense” Approach to Overtime Exemptions.  The Supreme Court’s recent ruling in Christopher v. SmithKline Beecham Corp., DBA GlaxoSmithKline established that when classifying employees as exempt or nonexempt under the Fair Labor Standards Act, employers should not abandon common sense and industry practice.  The Christopher case puts the Department of Labor and potential plaintiffs on notice that unreasoned and overly narrow interpretations of the exemptions should be rejected by courts, especially when such interpretations would subject business to unfair surprise.

Supreme Court Strikes Down Much of Arizona Immigration Law.  Arizona enacted the Support our Law Enforcement and Safe Neighborhoods Act in 2010 in an attempt to address immigration concerns within its borders.  In a 5-3 decision, the Supreme Court struck down a significant part of the Arizona law.

For summaries of these two important rulings of the Supreme Court, please click

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April 2012 Client Alerts

June 6, 2012

Authors

Bryan Cave

April 2012 Client Alerts

June 6, 2012

by: Bryan Cave

IRS Releases Proposed Rules on New Comparative Effectiveness Fee for Health Plans

On April 12, 2012 the IRS released proposed regulations regarding the collection of the fee for the Patient-Centered Outcomes Research Trust Fund (the “Fund”) under the Patient Protection and Affordable Care Act.  The Fund will be used to pay for the Patient-Centered Outcomes Research Institute which has the goal of helping health care providers and consumers make informed health decisions by synthesizing research comparing the outcome effectiveness of various treatments.  To learn more about proposed  regulations, the plans that will be impacted and the fee, please click here to read the Alert published by the Employee Benefits and Executive Compensation Client Service Group on April 23, 2012.

The Absolute Priority Rule:  An Endangered Species in Individual Chapter 11 Cases?

The absolute priority rule of Section 1129(b) of the Bankruptcy Code is a fundamental creditor protection in a Chapter

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February 2012 Client Alerts

March 6, 2012

Authors

Bryan Cave

February 2012 Client Alerts

March 6, 2012

by: Bryan Cave

FINRA Issues Guidance on Protection of Customer Accounts

A recent alert from the Financial Industry Regulatory Authority (“FINRA”) is encouraging broker-dealers to reexamine their policies and procedures relating to protection of customer assets and accounts.  FINRA Regulatory Notice 12-05 advises broker-dealers that FINRA has received an increasing number of reports of customer funds being stolen as a result of instructions e-mailed to firms from customer e-mail accounts that have been compromised.  With that notice, FINRA also issued an Investor Alert advising the public about the reported incidents.  To learn more about the Notice and Alert, please click here to read the Alert published by the White Collar Defense & Investigations and Securities Litigation & Enforcement Client Service Groups and Data Privacy & Security Team on February 6, 2012.

Reporting Cybersecurity Risks — New Obligations for Publicly Traded Companies 

Most companies are aware that they may be required to report data security breaches to consumers

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