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SEC Revisits Regulation S-P After Twenty Years of Innovation to Information Technology | Proskauer - The Capital Commitment

On March 15, 2023, the U.S. Securities and Exchange Commission (“SEC”) released its proposal to amend Regulation S-P: Privacy of Consumer Financial Information and Safeguarding Customer...

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S P Regulation SEC Revisits Innovation to Information Technology

SEC proposal to amend Regulation S P Privacy of Consumer Financial Information and Safeguarding Customer Information while simultaneously issuing two additional cybersecurity related rule proposals. SEC implements cybersecurity and privacy standards across regulated entities

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Changing Of The Guard? SEC Proposes Significant Amendments To The Safeguards Rule - Securities

The SEC continued its recent onslaught of proposed cybersecurity rules in mid-March with three new proposals covering a litany of entities, including investment advisers, broker-dealers...

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Relief Package Includes Less for Cybersecurity

President Joe Biden in the Oval Office (Source: Wikipedia)
The $1.9 trillion economic relief package known as the American Rescue Plan, which the House approved Wednesday and President Biden signed Thursday afternoon, includes about $2 billion for cybersecurity and IT modernization, rather than the $10 billion the president originally proposed.
The cybersecurity and IT funding includes $650 million allocated to the U.S. Cybersecurity and Infrastructure Security Agency for "cybersecurity risk mitigation" as well as $1 billion for the General Services Administration to spend on IT modernization projects throughout the government. Another $200 million is set aside for the U.S. Digital Service to hire additional security experts and provide additional services to agencies. The package does not include any further details.

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White House Preparing 'Executive Action' After SolarWinds Attack

In an update on the investigation into the SolarWinds supply chain attack, Deputy National Security Adviser Anne Neuberger said the Biden administration is

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White House Preparing 'Executive Action' After SolarWinds Attack

White House Preparing 'Executive Action' After SolarWinds Attack
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5 Critical Questions Raised by Water Treatment Facility Hack

A satellite view of Oldsmar's water reclamation facility (Photo: Google Maps)
As the investigation into the hacking of a water treatment facility in Florida continues, cybersecurity experts say the incident points to the urgent need to enhance operational technology security.
"The lesson to be learned here is that public sector organizations that provide critical services - which are largely unregulated for security - need some scrutiny on their IT and OT security," says Mike Hamilton, the CISO of CI Security, who formerly worked at the Department of Homeland Security.
The Friday attack against the water treatment facility in Oldsmar, Florida, is being investigated by the local Pinellas County Sheriff's Office, which has notified the FBI and U.S. Secret Service.

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Biden's $10 Billion Cybersecurity Proposal: Is It Enough?

The Biden administration also proposes spending $1 billion for several other cybersecurity and IT initiatives, including:
$200 million for the rapid hiring of security experts to work for the Office of the U.S. Chief Information Security Officer as well as the Digital Service unit in the White House;
$300 million to fund additional IT projects within the GSA;
$690 million for a CISA project designed to improve monitoring and incident response across federal agencies.
The proposed new spending on security and IT improvements is in direct response to the SolarWinds supply chain hack, which has affected federal agencies, including the Treasury, Commerce, Homeland Security, Justice and Energy departments, as well as numerous private firms. Biden said earlier the hacking incident reflected a gap in U.S. cybersecurity capabilities (see:

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