Is the recent ruling by the US Supreme Court on the Chevron Deference going to have any effect on cybersecurity regulatory compliance in the U.S? While the Chevron deference instructed lower courts to defer to expert Federal agencies in the…
What constitutes materiality is a hot topic, with the recent SEC final cyber rule requiring covered companies report material cyber risks and incidents. The enclosed article by Shivaram Rajgopal, Kester and Byrnes Professor at Columbia Business School discusses the reporting…
The SEC has announced charges against the former CEO, CRO and CFO with misleading investors about the strength of its Bank Secrecy Act/Anti-Money Laundering (BSA/AML) program and monitoring of crypto customers. The SEC’s complaint alleges that Silvergate and the CFO misrepresented…
The Indonesian president has ordered an audit of government data centers, after it was confirmed there was no DR in place to restore hacked data following a recent cyber attack. The enclosed video () of the parliamentary discussion last week…
While the virtues of AI are still unknown (I’ve not seen a reasonable business case yet) One must remember AI is still working its way through the regulatory mill. We must also remember that AI brings with it many challenges…
A nice article that discusses the requirements of UK Financial Conduct Authority (FCA) for UK Covered Financial Institutions (FIs) to comply with Operational Resilience rules by March 2025. Specifically the obligations for FIs to demonstrate management over cybersecurity and maintain…
A great article discussing the implications of this week ruling by the U.S Supreme Court, adjudicating on the SECs use of in house courts. Limiting the ability of the SEC and other Federal agencies to adjudicate cases through their own…
Thank you for sharing Bryan Foss, Evolve bank is going through a tough time this month. The Federal Reserve issued an enforcement action against Evolve Bancorp Inc. and Evolve Bank & Trust for deficiencies in the bank’s anti-money laundering, risk…
Beware the activist investor if you’re a cybersecurity vendor (and if you’re an entity covered under cyber regulations). One has been interested in the state of the cybersecurity product market for many years. More so when people such as Chris…
A timely article on Governance and Banking, not only as regulators look to focus their attention on governance strategy and frameworks, but financial Institutions look to improve corporate governance. (FDIC 2023 guidance) Faisal Khan, it is not just Financial Institutions…
