Cybersecurity Legal Year in Review – #DtSR Podcast

Do not miss this podcast discussing key cybersecurity legal events from 2015. Shawn Tuma joined the DtSR Gang [Rafal Los (@Wh1t3Rabbit), James Jardine (@JardineSoftware), and Michael Santarcangelo (@Catalyst)] on the Down the Security Rabbit Hole podcast.

In this episode…

  • Most important cybersecurity-related legal developments of 2015
    • Tectonic Shift that occurred with “standing” in consumer data breach claims
      • Discussion of law prior to Neiman Marcus case, and post-Neiman Marcus
      • Does this now apply to all consumer data breach cases?
      • Immediate impact? Companies now liable?
      • Lesson is in seeing the trend and how incrementalism works
      • Michaels & SuperValu case dismissals in light of Neiman Marcus
  • Regulatory Trends
    • FTC & SEC gave hints in 2014, post-emergence of Target details
    • Wyndham challenged authority – came to fruition in August 2015
    • SEC not far behind – significant case in September 2015
    • Aggressiveness of FTC is substantial – FTC v. LabMD … all over LimeWire
  • Officer & Director Liability
    • 2014 – SEC Comm. fired the warning shot … pointed the finger
    • Shareholder derivative litigation
    • Individual liability of IT / Compliance / Privacy “officers”
  • Anticipated 2016 Legal Trends
    • Regulatory enforcement … which, by the way, is why NIST is becoming default
    • Shareholder Derivative – much more likely than consumer class actions at this time
    • Lessons from both of these: when you need to persuade the “money folks” that they need to act, mention D&O Liability (especially Caremark) and Regulatory focus on individuals … now they’re in the cross-hairs
    • Realization that cybersecurity is more of a legal issue than anything else (IT or business) b/c it is the legal requirements and consequences that ultimately drive everything

Go HERE to listen to the Podcast!

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