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Cybercrime poses an ever-increasing threat to consumers of financial products and services. In 2016, the then- U.S. Securities and Exchange Commission (SEC) Chair said that cybercrime ranks as “one of the greatest risks facing the financial services industry.” Federal law thus requires financial services firms to implement procedures designed to protect their customers’ data. Now individual states are increasingly getting into the game. Two states recently enacted or proposed rules for financial services firms. This may be just the beginning of a national trend toward increased state regulation of cybersecurity matters. Financial services firms and their management should keep a close eye on developing cybersecurity regulations, so as to be better prepared to proactively address the shifting regulatory landscape as it continues to evolve.
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Privacy Risk Management & Data Minimization
By Therese Craparo and Sarah Bruno
Many organizations — from growing start-ups to mature, well-established companies — are struggling with the new reality of what it means to manage data in an era of digital transformation, exponential data growth, and expanding regulatory regimes focusing on data management and minimization.
Digital Dibs: Rival Views of Generative AI Copyrights
By Greg Moreman
GAI platforms like ChatGPT and OpenAI often require very little human input, shattering this legal landscape’s framework by posing a simple question: Who authored the material? We’ll explore how two countries are answering this question in different ways.
Empowering Legal Professionals: Navigating AI Solutions for Efficiency and Data Security
By Michael T. Murray and Tony Donofrio
Integrating AI tools into legal practice without compromising the security of sensitive client information is a paramount concern. In this article, we’ll examine how AI is revolutionizing certain aspects of legal work, while offering best practices for employing these technologies and providing guidance for legal professionals in selecting the right AI products and service providers.
Pitfalls In Personal Device Data Collection
By Marjorie Peerce and Marguerite O’Brien
The increasing frequency of “bring your own device” policies creates serious implications for subpoena recipients and litigants to ensure compliance with discovery demands. And courts across the country consider such personal mobile data fair game. To avoid pitfalls —and sanctions — counsel must take proactive steps to ensure proper preservation and collection of personal mobile data and verify that clients comply.
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