The Securities and Exchange Commission announced that it has reopened the public comment periods for 11 rulemaking releases and one request for comment due to a technological error resulting in numerous public comments submitted through the agency’s online comment form not being received. The SEC advised that all those who Read More
Tornado Cash has been sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) after the virtual currency mixer was “used to launder more than $7 billion worth of virtual currency since its creation in 2019,” OFAC announced Aug. 8. Among the $7 billion in laundered Read More
Robinhood Crypto (RHC) has been ordered to pay a $30 million penalty for “significant deficiencies” in its Bank Secrecy Act/anti-money laundering (BSA/AML) compliance program and for cybersecurity violations, said the New York Department of Financial Services. NYDFS discovered RHC’s compliance deficiencies following a supervisory examination and a subsequent investigation. In Read More
The U.S. Department of Justice announced a new initiative last week to hold federal contractors responsible if they fail to report data breaches. The plan is to charge such contractors with violating the False Claims Act if they neglect to follow federal standards that require the reporting of cyber-attacks. The Read More
Dallas-based luxury retailer Neiman Marcus Group says it is notifying 4.6 million of its online customers that they have been the victims of a data breach that occurred in May 2020, but is just now coming to light. In a statement, the company said the data breach involved customers’ names, Read More
Educational publishing and software company Pearson has agreed to pay $1 million to settle charges that it misled investors on the details of a 2018 data breach, the Securities and Exchange Commission announced yesterday. According to the SEC, London-based Pearson made misleading statements and omissions to investors about a cyber-attack Read More
Zoom Video Communications agreed to pay $85 million and bolster its security practices to settle a lawsuit claiming it violated users’ privacy rights by sharing personal data with Facebook, Google and LinkedIn, and letting hackers disrupt Zoom meetings in a practice called Zoombombing. A preliminary settlement filed on Saturday afternoon Read More
The Securities and Exchange Commission has released its 2021 “Agency Rule List” to give companies an idea of the regulations in its pipeline and when they can expect them to move forward. The list includes a schedule of proposed and final rules on such topics such as climate change disclosures, Read More
An executive order released by the Biden administration last month seeks to bolster the federal government’s cybersecurity defenses and resilience by imposing a variety of requirements on federal agencies and government contractors that are likely to have spillover effects in the private sector. While many federal agencies and contractors already Read More
