Current Issue Headlines
Vol. 4, No. 16 (Jun. 13, 2018)
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The Devil Is in the Details: LabMD Imposes Limitations on the FTC’s Enforcement Authority
In a closely watched data security case with significant implications for all enforcement actions, the United States Court of Appeals for the Eleventh Circuit struck down an FTC cease-and-desist order as impermissibly vague, providing a setback for FTC enforcement efforts. In this guest article, Buckley Sandler attorneys Elizabeth McGinn, Sasha Leonhardt and A.J. Dhaliwal explain the background of LabMD, Inc. v. FTC and the Eleventh Circuit’s decision, and provide lessons for companies examining their cybersecurity protections and data breach response programs. See “Lessons and Trends From FTC’s 2017 Privacy and Data Security Update: Enforcement Actions (Part One of Two)” (Jan. 31, 2018); Part Two (Feb. 14, 2018).
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What Lawyers Need to Know About Security Technologies and Techniques (Part Three of Three)
The legal team is a crucial part of a company’s cybersecurity program and it is essential for members of that team to understand security technologies and how they are used to mitigate data breach risk. This final installment in our three-part series, featuring advice from legal and technical experts, covers how and when common types of cloud solutions are used and the attorney’s role in mitigating risk in connection with this service. It also addresses what to consider when “hacking back” to secure data. Part one explored the appropriate knowledge base for the different attorney roles, technology’s place in mitigating risk, and certain technologies and techniques, such as pen testing. Part two continued examining other security techniques, including red teaming, vulnerability scanning and social engineering. See also “Negotiating an Effective Cloud Service Agreement” (Sep. 13, 2017).
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CFTC Commissioner Encourages Formation of Self-Regulatory Organization for Cryptocurrency Spot Platforms
Cryptocurrencies have generated a fair amount of interest from the financial sector – and in turn, from regulators. A cohesive approach to regulating this developing asset class has yet to emerge, however. In a recent speech delivered before the Eurofi High Level Seminar 2018, CFTC Commissioner Brian Quintenz examined the role of regulators such as the CFTC during periods of technological change, the use of blockchain technology by financial services firms and current approaches to cryptocurrencies by U.S. and global regulators. He also called for the formation of a self-regulatory organization by cryptocurrency spot platforms to enforce customer protection rules in spot commodity markets. This article highlights the key points from Quintenz’s remarks. See also “Virtual Currencies Present Significant Risk and Opportunity, Demanding Focus From Regulators, According to CFTC Chair” (Feb. 14, 2018).
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Polsinelli Adds Three Shareholders to Data Privacy Practice in Chicago and New York
Polsinelli recently announced the addition of three shareholders to its technology transactions and data privacy practice group. Bruce Radke and Michael Waters have joined the Chicago office, and John Cleary has joined the New York office. All three attorneys join the firm from Vedder Price. For more insight from Polsinelli, see “Privacy Leaders Share Key Considerations for Incorporating a Privacy Policy in the Corporate Culture” (Oct. 19, 2016).
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Shearman & Sterling Welcomes Partner to Bay Area IP Transactions Practice
Emma Maconick has joined Shearman & Sterling’s intellectual property transactions group as a partner in Menlo Park, California, where she will advise clients on a range of issues including data, privacy and cybersecurity as well as on information technology, cloud-based services agreements and e-commerce, the firm recently announced. For more from Shearman & Sterling, see “Dynamic Regulations and Shareholder Actions Guide the Board’s Shifting Role in Cyber (Part One of Two)” (Jan. 31, 2018); Part Two (Feb. 14, 2018).
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