On May 23, 2019, the United States Securities and Exchange Commission (“SEC”)’s Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert entitled “Safeguarding Customer Records and Information in Network Storage – Use of Third Party Security Features” (the “Risk Alert”). The Risk Alert highlights the risks associated with the storage of customer records and information by broker-dealers and investment advisors on cloud-based storage platforms.
On April 22, 2019, the FBI’s Internet Crime Complaint Center (“IC3”) released its Internet Crime Report (the “Report”) for 2018. IC3 issues the Report annually as a means to highlight data and identify key trends about Internet crimes.
Last week, the Department of Justice (“DOJ”) and the Securities & Exchange Commission (“SEC”) announced charges connected to a large-scale, international conspiracy to hack into the SEC’s Electronic Data Gathering, Analysis and Retrieval (“EDGAR”) system and profit by trading on stolen material, non-public information. The conduct underlying these cases was one of the principal reasons that the SEC created its Division of Enforcement “Cyber Unit” to target cyber-related securities fraud violations.
Recently, the MITRE Corporation, in collaboration with the U.S. Food and Drug Administration (FDA), announced the release of the Medical Device Cybersecurity Regional Incident Preparedness and Response Playbook. The Playbook was designed to provide “tools, references, and resources” for Healthcare Delivery Organizations (HDOs) to better prepare for and respond to medical device cybersecurity incidents.
The Attorney General’s Cyber-Digital Task Force has released its first report, which provides a detailed assessment of the cyber threats facing the United States and discusses the ways the Department of Justice (DOJ) is combatting and preparing to combat those threats.
In Carpenter v. United States, the U.S. Supreme Court recently held that the Fourth Amendment requires the government to get a search warrant to obtain Cell-Site Location Information (CSLI) from wireless carriers. CSLI reveals the location of a cell phone based upon the cell towers that the cell phone is using to obtain a signal. Carpenter marks an important and noteworthy change of course in Fourth Amendment jurisprudence.