Wells Fargo Faces Scrutiny Over New Data Breach

From: PYMNTS.com

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According to a new report, the information accessed by a lawyer was on wealthy customers who do business with Wells Fargo’s brokerage unit. A person with knowledge of the matter told The Globe and Mail that regulators are inquiring about the data breach after information was given by accident to an attorney as part of a lawsuit involving two brothers, one of which is a former employee.

New Cybersecurity Policy Will Impact Federal IT Market

From: eCommerce Times

By John K. Higgins

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Agency heads will be held accountable to the president “for implementing risk management measures commensurate with the risk and magnitude of the harm that would result from unauthorized access, use, disclosure, disruption, modification, or destruction of IT and data,” it states.

Call for Swift Action

The order requires agencies to comply “immediately” with several specific mandates:

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National Academies report finds grid vulnerable to cyber, physical attacks

From: UtilityDIVE

Dive Brief:
  • A new report from the National Academies of Sciences, Engineering, and Medicine concludes the United States’ electric grid is vulnerable to a range of threats, including terrorism or natural disasters that could potentially cause long-term and widespread blackouts.
  • The report called on the U.S. Department of Energy and the Department of Homeland Security to work with utility operators and other stakeholders to improve cyber and physical security and resilience.
  • NASEM said the report committee focused on reducing the grid’s vulnerability to large blackouts that “extend over several service areas or states and last three days or longer.”

Super Regional Carriers Urged to Educate ‘Suspicious’ Regulators on Big Data Use

From: Insurance Journal

By

“We’re curious and we don’t know. When regulators don’t know what’s going on, they get suspicious.”

That was Wisconsin Insurance Commissioner Ted Nickel acknowledging that like the industry they regulate, state insurance commissioners face challenges keeping up with new technology and uses of data and that it’s in the industry’s best interests to help regulators understand what they are doing with these tools.

Calls grow for Canada to modernize privacy laws amid EU changes

From: The Globe and Mail

New privacy regulations coming into force in Europe next year are calling into question whether Canada’s approach to privacy is keeping up with its global peers.

Industry observers are suggesting that if Canada does not continue to modernize its approach to privacy, it could face roadblocks in maintaining its status as an adequately protected jurisdiction – a status that allows for more fluid trade with the European market.

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