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Building a Business Case for a Data Privacy Program
When members of the Compliance, Governance and Oversight Council (CGOC) discuss data privacy and security today, I see an entirely new level of urgency. Enterprise data security programs used to be driven by the fear that breached customer and employee data could damage reputations and harm brands. Today, organizations recognize that data privacy is a vital competence driven by evolving regulations around the world and the increasing cost of data breaches and compliance failures. The 2016 Ponemon Institute Cost of Data Breach Studyrevealed the average cost for each lost or stolen record containing sensitive and confidential information increased from $154 to $158. Even a modest breach of 30,000 records at a small business or startup can cost more than $4.6 million.
In the United States, privacy legislation is targeted at specific industries or populations. These include the U.S. Privacy Act, the Children's Online Privacy Protection Act (COPPA), the Health Insurance Portability and Accountability Act (HIPAA), and many others. However, U.S. companies of all sizes and in all industries should recognize that the EU's General Data Protection Regulation (GDPR), going into effect in May 2018, applies to all foreign companies processing data of EU residents. Can your products be utilized by EU customers? If so, it's imperative that you are ready to comply with the GDPR.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.