SEC Brings First Major Cyber Insider Trading Case Against International Hacking Ring

SEC Brings First Major Cyber Insider Trading Case Against International Hacking Ring

In an action that emphasizes the agency’s commitment to cybersecurity, the SEC recently charged 32 defendants with violations of the federal antifraud laws and corresponding SEC rules, stemming from an alleged $100 million conspiracy to steal and trade on material non-public information contained in corporate earnings announcements that were obtained by hacking into the computer networks of three newswire services.

Third Circuit: FTC May Pursue Data Breach Enforcement Action Against Wyndham Worldwide

By | The D&O Diary | August 24, 2015
Third Circuit: FTC May Pursue Data Breach Enforcement Action Against Wyndham Worldwide

On August 24, 2015, in a ruling that was much-anticipated because of its potential implications for the regulatory liability exposures of companies that have been hit with data breaches, the Third Circuit affirmed the authority of the Federal Trade Commission to pursue an enforcement action against Wyndham Worldwide Corp. and related entities alleging that the company and its affiliates had failed to make reasonable efforts to protect consumers’ private information.