Katten is continuing our weekly, 15-minute fireside chat series featuring London partners Carolyn Jackson, Nathaniel Lalone and Neil Robson. Next week’s discussion will focus on the UK’s brand-new insolvency rules, which will be of particular interest to investment firms and proprietary traders. Please join us on Tuesday, May 19 at 1:00 p.m. Eastern

On May 17, the Securities and Exchange Commission Office of Compliance Inspections and Examinations (OCIE), issued a Risk Alert in response to the widespread ransomware attack known as WannaCry, WCry, or Wanna Decryptor that started on May 12. The attack infected computers and servers of various organizations in more than 100 countries. The Risk Alert encourages broker-dealers and investment management firms (collectively, “Firms”) to review the May 12 alert published by the US Department of Homeland Security’s Computer Emergency Readiness Team and evaluate whether applicable patches for their operating systems are properly and timely installed.
Continue Reading SEC Issues Risk Alert in Response to WannaCry Ransomware Attack

On December 4, President Obama signed the “Fixing America’s Surface Transportation Act’’ or the ‘‘FAST Act.” In addition to providing for highway and transportation spending, section 750001 of the FAST Act amended Section 503 of the Gramm-Leach-Bliley Act (GLBA) by eliminating under certain circumstances the GLBA requirement that financial institutions provide annual privacy notices (new GLBA Section 503(f)). For a more general look at the FAST Act, see “FAST Act Legislation and Impact on Securities Law” in the SEC/Corporate section.
Continue Reading Federal Highway Bill Eliminates Annual Privacy Notice Requirement for Financial Institutions