Cybersecurity

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As 2021 draws to a close, we wanted to share a recap of some of the most important cybersecurity developments we covered this past year along with some suggestions on what companies (particularly those that do business with the federal government) should expect in 2022. This is part four of a four-part series (you can read Part 1 here, Part 2 here, and Part 3 here.
Continue Reading 2021 Cybersecurity Recap for Government Contractors (and What to Expect in 2022) – Part 4 of 4: Cybersecurity Maturity Model Certification (“CMMC”) 2.0

As 2021 draws to a close, we wanted to share a recap of some of the most important cybersecurity developments we covered this past year along with some suggestions on what companies (particularly those that do business with the federal government) should expect in 2022. This is part three of a four-part series (you can read Part 1 here and Part 2 here).
Continue Reading 2021 Cybersecurity Recap for Government Contractors (and What to Expect in 2022) – Part 3 of 4: Cyber Incident & Ransomware Payment Reporting Legislation

As 2021 draws to a close, we wanted to share a recap of some of the most important cybersecurity developments we covered this past year along with some suggestions on what companies (particularly those that do business with the federal government) should expect in 2022. This is part two of a four-part series (you can read Part 1 here).
Continue Reading 2021 Cybersecurity Recap for Government Contractors (and What to Expect in 2022) – Part 2 of 4: Department of Justice (DOJ) Civil-Cyber Fraud Initiative

As 2021 draws to a close, we wanted to share a recap of some of the most important cybersecurity developments we covered this past year along with some suggestions on what companies (particularly those that do business with the federal government) should expect in 2022. This is part one of a four-part series.
Continue Reading 2021 Cybersecurity Recap for Government Contractors (and What to Expect in 2022) – Part 1 of 4: Biden’s Cybersecurity Executive Order (EO 14028)

The Department of Defense (DOD) recently announced several changes to its Cybersecurity Maturity Model Certification program. The program applies to those who serve as contractors and suppliers to the DOD. As described in our sister blog, the new version of the program – “CMMC 2.0” – has several important differences from the original program. CMMC 2.0 is anticipated to go into effect anywhere from nine to 24 months from now.
Continue Reading Updates Announced to Department of Defense Cybersecurity Certification Program

The SEC recently announced a settlement with Pearson plc where the company has agreed to pay $1 million to settle charges that it misled investors about a 2018 cyber incident. According to the order, Pearson made misleading statements and omissions about a 2018 data breach involving the theft of student data and administrator credentials in its July 2019 semi-annual report.
Continue Reading SEC Fine Highlights Importance of Cybersecurity Disclosures

The New York State Department of Financial Services recently announced new guidance addressing ransomware attacks, and highlighting cybersecurity measures to significantly reduce the risk of an attack.  The guidance comes as ransomware rates have been increasing, and builds on the post SolarWinds guidance from NYDFS about supply chain management. It was released just prior to the most recent large attack, namely the July 2nd supply-chain ransomware attack centered on the U.S. information technology firm Kaseya.
Continue Reading NYDFS Issues Ransomware Guidance

The Department of Labor recently issued cybersecurity guidance to retirement plans. The department’s Employee Benefits Security Administration (EBSA) issued guidance in three areas: (1) hiring and working with vendors and service providers; (2) implementing an internal cybersecurity program for the plan; and (3) online security for plan participants and end-users.
Continue Reading Cybersecurity Guidance Issued to Retirement Plan Sponsors

NYDFS Issues Supply Chain Management Guidance

The New York State Department of Financial Services recently issued recommendations to financial institutions in the aftermath of the SolarWinds cyberattack. In that attack, hackers inserted malware into SolarWinds software which was then distributed to SolarWinds’ customers (many of which were financial institutions). After discovery, SolarWinds released a series of hot fixes to address vulnerabilities in their software associated with the attack. Although NYDFS found that most companies responded quickly to patch the vulnerabilities, it did identify additional steps to reduce supply chain risk:
Continue Reading NYDFS Issues Supply Chain Management Guidance

Cyberattacks have become big business from the standpoint of attackers.  Threat actors range well beyond cults of old, and now including sophisticated state actors, large businesses organized for the very purpose of cyber breach and theft, and complex threat networks that aggregate information formerly treated as innocuous.  This is a real risk for companies as we look forward to the remainder of 2021. At the same time, ransomware is changing the state of cyber insurance, with regulators across the globe entering the field to govern the conduct of attacked businesses in this climate. Regulations cover terms of ransom payments and subsequent obligations to persons whose information goes out the pipes.  For more on these risks, you can listen to the recent Nota Bene podcast episode (on Apple Podcasts, Google Podcasts, Spotify, or Stitcher) with Sheppard Mullin partners Kari Rollins and Michael Cohen.
Continue Reading Managing the World of Cybersecurity in a New Era