Updates on developments in data privacy and cybersecurity
On September 28, 2023, the Cyberspace Administration of China (“CAC”) issued draft Provisions on Standardizing and Promoting Cross-Border Data Flows (Draft for Comment) (规范和促进数据跨境流动规定（征求意见稿）) (draft “Provisions”) (Chinese version available here) for a public consultation, which will conclude on October 15, 2023.
The draft Provisions propose significant changes to the existing cross-border data transfer regime…
On September 15, the Federal Trade Commission (“FTC”) and U.S. Department of Health and Human Services (“HHS”) announced an updated joint publication describing the privacy and security laws and rules that impact consumer health data. Specifically, the “Collecting, Using, or Sharing Consumer Health Information? Look to HIPAA, the FTC Act, and the Health Breach…
As many readers will be aware, the EU’s new cybersecurity directive, NIS2, imposes security, incident notification, and governance obligations on entities in a range of critical sectors, including energy, transport, finance, health, and digital infrastructure (for an overview of NIS2, see our previous post here). One of the main reasons the Commission proposed these new…
On 12 September 2023, the UK Information Commissioner, John Edwards, and the Chief Executive of the National Cyber Security Centre (“NCSC”), Lindy Cameron, signed a joint memorandum of understanding (“MoU”) detailing how the Information Commissioner’s Office (“ICO”) and NCSC will work together moving forward.
The MoU does not create legally binding obligations between the ICO…
Ahead of its September 8 board meeting, the California Privacy Protection Agency (CPPA) has issued draft regulations on cybersecurity audits and risk assessments. Public comments will be requested once the formal rulemaking process is kicked off. Accordingly, the draft regulations are subject to change. Below are the key takeaways:
Cybersecurity Audits
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On August 21, 2023, the Cybersecurity and Infrastructure Security Agency (“CISA”), National Security Agency (“NSA”), and National Institute of Standards and Technology (“NIST”) issued a joint quantum-readiness factsheet (the “Factsheet”) to inform organizations—particularly those that support critical infrastructure sectors—about quantum computing threats and to urge these organizations to begin planning for future migration to…
On June 27, 2023, the European Parliament and the Council of the EU reached a political agreement on the Data Act (see our previous blog post here), after 18 months of negotiations since the tabling of the Commission’s proposal in February 2022 (see our previous blog post here). EU lawmakers bridged their differences…
On August 4, 2023, the Securities and Exchange Commission’s (“SEC”) final rule on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure was published in the Federal Register, confirming the dates on which these new requirements will enter into force. Covington has previously published a detailed summary of this rule, which imposes significant new disclosure requirements…
Following up on the recent release by the New York Department of Financial Services (“NYDFS”) of an updated Proposed Second Amendment to its “first-in-the-nation” Cybersecurity Regulation, 23 NYCRR Part 500 (Proposed Second Amendment released June 28, 2023), it is not too late for companies to submit comments on the most recent version of the proposed…
According to a recently-released meeting agenda, the Securities and Exchange Commission’s (“SEC”) upcoming July 26, 2023 meeting will include consideration of adopting rules to enhance disclosures regarding cybersecurity risk management, governance, and incidents by publicly traded companies.
The SEC initially proposed these rules in March 2022. If adopted as proposed, the new rules would…
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