Monthly Archives: October 2011
The Securities and Exchange Commission’s Guidance On Cybersecurity and Cyber Incident Disclosure
BY MELISSA J. KRASNOW Background The U.S. Securities and Exchange Commission on occasion provides disclosure guidance on topics of interest to the business and investment communities. The SEC said recently that it has observed ‘‘an increased level of attention focused on cyberattacks.’’ The rash of costly cyberattacks against companies like Epsilon and Sony, among others, gave the SEC cause to implement new cybersecurity disclosure requirements. On Oct. 13 the SEC Division of Corporation Finance issued guidance for public companies regarding their disclosure obligations relating to cybersecurity (i.e., the body of technologies, processes and practices designed to protect networks, systems, computers, … [ Continue reading ]
9th Circuit Grants Rehearing En Banc on Nosal
On October 27, 2011, the 9th Circuit Court of Appeals ordered that U.S. v. Nosal be reheard en banc by all of the Appeals Court judges and that the “three-judge panel opinion [in U.S. v. Nosal, 642 F.3d 781 (9th Cir. 2011)] shall not be cited as precedent by or to any court of the Ninth Circuit.” If the 9th Circuit should reverse its decision in Nosal, it is highly likely that this case will be headed for the U.S. Supreme Court. The 9th Circuit’s reversal of Nosal would create a conflict between the 9th Circuit and the 1st, 3rd, … [ Continue reading ]
