The U.S. Securities and Exchange Commission this week took the rare step of penalizing a company for its allegedly poor disclosure of a cyber incident. The SEC announced a $1…
Earlier this year, we wrote about the SEC’s cybersecurity priorities. Since then, the SEC announced a settlement with First American Title Insurance and Services (“First American”) for violating Rule 13a-15(a)…
Companies face increasing risk to their operations resulting from a cyber breach of a critical vendor. We have recently written about creating a sensible cybersecurity and AI risk framework for…
Our three previous articles in this series on the future of AI regulation have discussed the RFI on AI issued by U.S. banking regulators, the draft EU AI regulation, and…
In our first post in this series on the future of AI regulation, we discussed the recent request for information (“RFI”) from U.S. federal banking regulators on the use of…
In this Part 2 of our series on the future of artificial intelligence (“AI”) regulation, we examine the draft EU legislation. Part 1 of the series (on U.S. banking regulators’…
Several recent developments provide new insight into the future of artificial intelligence (“AI”) regulation. First, on March 29, 2021, five U.S. federal regulators published a request for information (“RFI”) seeking…
On April 14, 2021, the New York State Department of Financial Services (the “DFS”) announced that its cyber enforcement action against National Securities Corporation (“National Securities”) has been resolved by…
Earlier this week, Debevoise published an overview of the SEC’s Division of Examination Priorities for 2021. Today, we’re taking a deeper dive into one aspect of those priorities: cybersecurity as it…
Last year, we discussed the first enforcement action brought by the New York State Department of Financial Services (“DFS”), which involved charges against First American Title Insurance Company. That hearing…