The OCC’s most recent report on current key risks should be read by all banks, regardless of size or regulator, as a road map in preparing for the next examination.
On September 18, 2014, InsideCounsel magazine held a corporate counsel conference to facilitate discussions on current legal issues. In sessions on governance and compliance, industry experts addressed the current top challenges that in-house attorneys face when managing enterprise risk.
Cybersecurity is no longer just a “technology” issue. It has become a business and legal issue. Compliance and management personnel must be trained and informed on the impact that cybersecurity risks present to the business. Companies must have a business response, not just a technical response, prepared for when something goes wrong. The question is not “whether” a cybersecurity issue will arise, but when.
Besides their good looks and fame, they’re also increasing their focus on data security. In the wake of “Celebgate,” the Sony Pictures hack, and nearly daily data breaches targeting massive corporations to individuals, law firms are finally recognizing the importance of bringing their cybersecurity policies up to speed.
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* Given the name and origins of the Tea Party movement, it actually makes perfect sense that their groups got grief from the IRS. [Washington Post]
* Wachtell Lipton weighs in against the practice of shareholder activists offering special compensation to director nominees. [Dealbook / New York Times]
* A law professor, Joshua Silverstein, argues that schools should embrace grade inflation. (But haven’t most of them done this already?) [WSJ Law Blog]
* Facebook shareholders might not “like” this news, but Ted Ullyot is stepping down as general counsel after almost five years. We’ll have more on this later. [National Law Journal]
* The Brooklyn DA’s office is reopening 50 murder cases that were worked on by retired detective Louis Scarcella (who looks oh-so-savory in the NYT’s photo of him). [New York Times]
* In news that should shock no one, Nicholas Speath’s dubious discrimination case against Georgetown Law has been dismissed. [The BLT: The Blog of Legal Times]
* Not long after leaving Cravath for Kirkland, Sarkis Jebejian is putting together billion-dollar deals for private-equity clients. [Am Law Daily]
* Professor Jeffrey Rosen reviews an interesting new book, The Federalist Society (affiliate link), authored by Michael Avery and Danielle McLaughlin. [New York Times]
What’s the difference between a lawyer and a doctor? In-house columnist Mark Herrmann explains.
It’s the end of October, and you know what that means: law school finals are lurking. As law students begin to hunker down and make sweet, sweet love to their outlines and flashcards, others are busy thinking up more clever ways to study the same materials. Visual learners think that drawing pictures will help them […]
At this point, the lengths companies go to in order to protect data, keep it secure, and prepare for e-discovery is old news. Data breaches — and the news coverage that usually follows — have frightened many companies into at least attempting to ratchet up data security policies. Likewise with retention practices. There have been […]