Weil, Gotshal & Manges LLP
Paul Ferrillo is counsel in Weil’s Litigation Department, where he focuses on complex securities and business litigation, and internal investigations. He also is part of Weil’s Cyber Security, Data Privacy & Information Management practice, where he focuses primarily on cybersecurity corporate governance issues, and assists clients with governance, disclosure, and regulatory matters relating to their cybersecurity postures and the regulatory requirements which govern them. Mr. Ferrillo regularly counsels clients in the growing field of cybersecurity corporate governance, which is an increasingly important part of a Board’s enterprise risk management function. He advises with respect to cyber governance best practices, third-party vendor due diligence issues, cybersecurity regulatory compliance issues for Private Equity, Hedge Funds, and Financial Institutions that have been promulgated by the SEC, FINRA, the FTC, and the FDIC/OCC, the preparation and practicing of cybersecurity incident response plans, as well as evaluating and procuring cyber liability insurance.
The industry is faced with new regulations from New York Department of Financial Services and other bodies including the European Union General Data Protection plan. Nation states, hacktivists and other cyber criminals seek to exploit technological vulnerabilities to access data. While the types of cyber security threats continue to grow, so do the cyber security regulations. In this session, explore the way growing regulations are affecting operations. Technology alone is not enough, but a blend of people, processes and technology. The New York regulations require companies to have a CISO who will implement correct risk assessments and processes- the regulations also require reporting of attempted breaches and ensuring third-parties are also secure. The regulations 180-day transitional period ends in August with some of the requirements and the two-year transitional period will end in March 1, 2019. In this interactive session, discuss the impact, effect and next steps from transitional legislation and other evolving legislation and regulations.