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On July 10, 2023, the European Commission formally approved the EU-U.S. Data Privacy Framework (DPF) by adopting an “adequacy decision.” Adequacy decisions are one of the legal mechanisms under the EU’s General Data Protection Regulation (GDPR) for transferring personal data from the EU to third countries which, in the eyes of the European Commission, offer sufficient privacy and data protection. The DPF adequacy decision recognizes that, although the United States has a different approach to data protection than the EU, personal data transferred to the U.S. under the DPF is considered to be adequately protected in line with the GDPR’s rules on international data transfers. The European Commission takes the position that personal data can flow freely and safely from the EU to U.S. companies that are participating in the new Framework.
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New U.S.-China Investment Dynamic Focuses On AI and Sensitive Technologies
By David A. Holley
An Executive Order released by the Biden Administration on Aug. 9 places increased importance on due diligence when investing in specific foreign countries. The Executive Order will regulate outbound investments in China with a focus on key technologies critical to safeguarding U.S. national security, including artificial intelligence.
New York’s Latest Cybersecurity Commitment
By Erik B. Weinick
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York’s inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Data Breach Defense: Mobilizing Against Weaponized Mass Arbitration
By Daniella Main and Brooke Bolender
Most companies have experienced or will experience a data breach. Increasingly, companies also face the risks associated with mass arbitration weaponized by the overwhelming volume of claims after a breach.
By Megan Silverman
By readying your company’s cybersecurity program now to comply with the SEC’s cyber rules, you will also arm your company with a better defense against cyberthreat actors, reduce the reputational harm that comes along with a cybersecurity incident and increase investor confidence in the company’s cybersecurity program.
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