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High profile cyberattacks and data breaches have become routine occurrences. Cyber threats are so pervasive that many privacy and security experts advise that responsible parties ‘ like fiduciaries of employee benefit plans ‘ should prepare for when a data breach occurs, not if . Data collected by employee benefit plans includes sensitive information that makes them a particularly attractive target for cybercrime. While the Health Insurance Portability and Accountability Act (HIPAA), as amended by the Health Information Technology for Economic and Clinical Health Act (HITECH), sets forth requirements applicable to the security and privacy of protected health information collected by health plans, no such guidance currently exists with respect to the security and privacy of personal identifiable information (PII) collected by employee benefit plans other than health plans. However, plan sponsors and fiduciaries should be aware of, and address, security and privacy issues in connection with PII.
By Gabrielle Orum Hernández
Gov. Nathan Deal opted to veto a cybersecurity bill criticized by technology groups that would have made “unauthorized computer access” a crime.
By Stacey Garrett
U.S. laws require companies to retain records for years, and sometimes forever, and violating U.S. records retention laws can result in domestic fines and penalties. How can U.S. companies comply with the GDPR’s “right to erasure” while still fulfilling their U.S. records retention obligations?
By Ishan Girdhar
Most firms have extensive cybersecurity measures in place, but emerging or unclear regulatory requirements embroil them in a never-ending cycle of evaluation, best-practices review, and implementation. Firms don’t just need to have their own systems secured; a responsible firm must also reduce the risk of breach at their third-party vendors. As cloud service providers become commonplace, so too does a firm’s responsibility to ensure their vendors are managing risk appropriately.
By Mark Sangster
Small Law Firms Face Large Regulatory Requirements
Unlike large firms with comparable resources with which to protect client non-public information, small firms can find themselves trapped between cyberattacks, like ransomware, that don’t prejudice based on the size of firm, and regulators who are indifferent to your size, when investigating a potential violation.