Month: November 2023

FTC Adds New Data Breach Reporting Obligations Under Safeguards Rule

On October 27, 2023, the Federal Trade Commission (FTC) unanimously approved an amendment to the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule to require certain covered financial institutions to report a broad range of data breaches and other unauthorized data disclosures to the FTC. With a broader scope than existing obligations, quick […]

New York Department of Financial Services Amends Its Cybersecurity Regulations

On November 1, 2023, the New York Department of Financial Services (NYDFS) finalized its proposed cybersecurity rules, which build upon existing NYDFS cybersecurity requirements in the Part 500 Cybersecurity Rules. New class of covered entities The updated rules finalize a new class of financial services companies subject to NYDFS’ regulations […]

Biden Administration Issues Sweeping AI Executive Order

On October 30, 2023, the Biden administration issued a long-awaited executive order (EO) on artificial intelligence (AI). The EO expands on previous AI initiatives, such as the Blueprint for an AI Bill of Rights, and lays out the most comprehensive set of directions to date for federal agencies and the largest AI […]