/New Cybersecurity Laws

New Cybersecurity Laws

2.2 Essential or Essential Infrastructure and Services: Are there any cybersecurity requirements in your jurisdiction under applicable laws (in addition to those listed above) that are specific to critical infrastructure, operators of essential services or similar? Until now, most countries` cybersecurity regulations have focused on privacy rather than cybersecurity, so most cybersecurity attacks don`t need to be reported. If private information such as names and credit card numbers are stolen, this must be reported to the competent authority. But for example, when Colonial Pipeline suffered a ransomware attack that shut down the pipeline that supplied nearly 50% of the U.S. East Coast, it was not required to report it because no personal information had been stolen. (Of course, it`s hard to keep things a secret when thousands of gas stations can`t get fuel.) Plaintiffs may also allege securities fraud. To do so, applicants must claim that the Company made materially false or misleading statements, generally regarding the state of its cybersecurity position, and that the Company was aware of the falsity of those statements. ND D 198 Status: Failed – Postponed Refers to cybersecurity incident reporting requirements. ND H.B. 1064 Status: Failed Refers to the powers and functions of the IT department. ND H.B. 1314 Status: Promulgated Refers to cybersecurity incident reporting requirements. ND H.B. 1417 Statute: The decree refers to the powers and duties of the computer department.

ND S.B. 2075 Status: Issued Refers to third-party software access to insurance policy information. State lawmakers are focusing on cybersecurity concerns in many ways in 2022, as described below. At least 36 states passed laws in 2021 (in bold in the list below). The laws adopted include those of about half of the states that provide for enhanced security measures to protect state resources. Laws enacted in Connecticut and Utah encourage private sector companies to implement appropriate security practices at the time of a breach. Georgia, Kansas, Michigan, Vermont, and Washington have passed laws exempting certain cybersecurity information from disclosure based on public records. At least six states — Hawaii, Iowa, Maine, Minnesota, Tennessee and Wisconsin — have passed laws on security standards for insurance data. Indiana and North Carolina have passed laws specifically targeting ransomware: Indiana requires reporting of ransomware incidents, and North Carolina was the first state to prohibit government agencies from paying for ransomware requirements. Louisiana and Virginia have passed resolutions requiring cybersecurity studies. In the event of an incident, directors and officers may be subject to scrutiny and potentially litigation related to their oversight of the company`s cybersecurity. For example, in the Yahoo! data breach, directors and officers were sued by shareholders alleging that they failed to fulfill their fiduciary duties, ensure adequate safeguards were in place, did not properly investigate the incident, and made misleading statements.

The allegations were eventually settled for $29 million. In the same incident, the SEC imposed a fine of $35 million. This article describes the new cybersecurity context and the content of the expected new U.S. regulations. It then proposes a three-step approach to preparing organizations for preparedness, response and remediation. Justin Fier, vice president of tactical risk and response at Darktrace, told Security that the law „will provide federal cyber professionals with valuable transferable skills and diversify their career paths,” but warned that „it also contributes to an industry that is already suffering from burnout.” In a recent survey conducted by ThreatConnect, nearly one-third of cybersecurity professionals reported feeling very stressed at work. AR S.B. 149 Statute: Enacted amends the Fair Mortgages Act. Provides that a licensed mortgage broker, banker or service provider establishes, implements, updates and applies written physical and cyber security policies and procedures reasonably designed to ensure the confidentiality, integrity and availability of physical and electronic records and information. AR E.O.

12 creates the State Cyber Advisory Board. H.B. 128 Status: Issued Contains the powers and duties of the Cash Management Review Board with respect to financial security and cybersecurity plans and procedures adopted by government agencies, including the evaluation and implementation of such plans and procedures. THE H.B. 373 Statute: Promulgated Establishes an exemption from the Secretary of State`s public records requirements for certain information.