China’s New Cybersecurity Law

On November 7, 2016, the Standing Committee of China’s National People’s Congress promulgated the Cybersecurity Law of the People’s Republic of China (hereinafter referred to as the “CSL”) to become effective on June 1, 2017. While the law purports to create an overall national cyber security plan, its provisions, some of which are still vague, create significant potential uncertainties for companies doing business in China.

SEC Playing  Bigger Role in Cybersecurity

Cybersecurity threats have reached a point where they cannot go ignored by any government agency,even the U.S. Securities and Exchange Commission. Although an agency that is tasked with protecting investors is not one that typically comes to mind in the battle against cyberthreats,the SEC does maintain jurisdiction over cybersecurity issues for public companies, broker dealers and investment advisers, due to its responsibilities for ensuring the disclosure of material information, integrity of market systems and customer data protection.