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<b><i>Online Extra:</b></i> FDIC Chimes In on Cybersecurity
The Federal Deposit Insurance Corporation is the latest entity to release a framework for cybersecurity. Its division of risk management supervision published the document in the most recent issue of its supervisory highlights. It outlines the risk to financial institutions and 'is helpful for understanding the FDIC's cybersecurity focus and the issues upon which it expects banks subject to its supervision to focus,”according to Timothy Tobin and Katherine Gasztonyi of Hogan Lovells. Here are some of the document's key passages:
- Corporate governance:”A bank should evaluate and manage cyber risk as it does any other business risk,' according to the FDIC. It notes that boards play a key role in overseeing programs to protect data and highlights that it is up to them to create a corporate culture that prioritizes cybersecurity.
- Threat intelligence:'The FDIC is encouraging financial institutions to actively gather intelligence about various security risks through public and private sources, such as the Financial Services Information Sharing and Analysis Center and the U.S. Computer Emergency Readiness Team.
- Security awareness training:”Even the best-designed security controls cannot fully protect a financial institution from one uninformed employee, contractor, or customer,' warns the FDIC. It encourages financial institutions to train employees of all levels, from entry level to the board, on cybersecurity threats.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.