14.07.2010 Senators re-introduce bill to improve security, require notification of breaches
The press release issued by the Senators:
Today Senator Tom Carper (D-Del.) joined Senator Bob Bennett, (R-Utah) to re-introduce legislation that helps protect consumers and businesses from identity theft and account fraud.

26.05.2010 Russia Considers Improving its Data Protection Law
InfoWatch analytics lab reports, the Russian Federation is considering amending the country’s data protection law, according to BNA’s Privacy Law Watch.

25.05.2010 Reckless' data breaches should be prosecuted
InfoWatch analytics lab reports, Irish data protection controllers should face sanctions for deliberate or reckless breaches of information protection law, a Government appointed review group has concluded.

24.05.2010 FAQ on Alberta's New Breach Notice Law
InfoWatch analytics lab reports, earlier this month (May 1, 2010), Alberta became the first Canadian province to pass a broad breach notice law (“Bill 54”) as part of their comprehensive data privacy statute, the Personal Information Protection Act (“the Act”; technically, Alberta is the second province to pass a breach notice law in Canada, Ontario previously passed a breach notice law that focuses on health information custodians). 

17.05.2010 Application of New Massachusetts Data Security Regulations to Out-of-State Businesses
Massachusetts’s new data security regulations, effective as of March 1, 2010, currently set forth the country’s most stringent requirements for protecting data. Extending beyond what is required by other states, Massachusetts specifies that, for example, covered entities must implement a written information security program and must encrypt personal information that will be transmitted over the Internet, or that is kept on laptops and other portable devices. Massachusetts regulators and enforcement agencies would likely make the following three arguments that out of state entities must also comply with the new regulations.

12.05.2010 New breach notification requirements in effect in Canada
Amendments to the Personal Information Protection Act (PIPA) were proclaimed in force on May 1, 2010, and added a new requirement for organizations to notify the Information and Privacy Commissioner of incidents “involving the loss of or unauthorized access to or disclosure of personal information where a reasonable person would consider that there exists a real risk of significant harm to an individual.” PIPA was also amended to give the Commissioner the power to require organizations to notify individuals to whom there is a real risk of significant harm as a result of such an incident.

05.05.2010 Guernsey: Data protection law amended to include prison time
Michael Adkins of Collas Day summarizes amendments to the Data Protection (Bailiwick of Guernsey) Law. According to Wikipedia, Guernsey is a possession of the UK and not part of the UK nor part of the EU.

19.04.2010 Thoughts on City of Ontario v. Quon: The Fourth Amendment and Privacy of Electronic Communications in the Workplace
The Supreme Court will soon hear arguments in City of Ontario v. Quon, an important Fourth Amendment case involving the privacy of electronic communications in the workplace.

16.04.2010 California Senate again OKs breach notification law update
The California Senate has approved a bill that would update the state's pioneering data breach notification law, the lawmaker who introduced the legislation announced Friday.

15.04.2010 Virginia Adds Medical Information Breach Notice Law
The state of Virginia has passed a breach notice law requiring notice of security breaches involving medical information.

14.04.2010 Last State Without a Breach Notice Law? Not Mississippi
Yesterday, Mississippi Governor Haley Barbour approved Mississippi's first breach notification law, House Bill 583, leaving only four states without a notification law (Alabama, Kentucky, New Mexico, and South Dakota). 

06.04.2010 Personal Data Protection Bill passed
The Personal Data Protection Bill 2009 was passed by the Dewan Rakyat today without any “fireworks” as had been expected.

24.03.2010 Addition to Washington Breach Law Imposes Retailer Liability in Payment Card Breaches
Under a Washington law effective July 1, 2010, certain entities involved in payment card transactions may be liable to financial institutions for costs associated with reissuing payment cards after security breaches.

28.01.2010 Informing victims of identity theft

13.11.2009 NSW unveils new ID theft laws

25.09.2009 Ohio Officials, Insurers Look to Protect Policyholder Data

07.08.2009 Indiana Combats Identity Theft

31.07.2009 ID Theft Bill Proposed

30.07.2009 Germany Adopts Stricter Data Protection Law — Serious Impact on Business Compliance

15.07.2009 Nevada's New Encryption Law; Made Moot By Its Own Data Breach Law?

03.07.2009 New Data Security Breach Laws in Alaska and South Carolina

30.10.2008 European data breach laws could land in 2011
European data breach notification laws applying to all online information service providers could be in force by 2011, according to the European data protection supervisor Peter Hustinx.

28.04.2008 Russian Personal Data Operators Will Be Registered
Federal Service for Supervision of Mass Media, Communications and Protection of Cultural Heritage on March 28, 2008 issued an order according to which a special register of owners and operators of different databases will be introduced.

14.04.2008 Australian Companies Will Control E-mails
Australian businesses will be able to intercept e-mail and instant messaging communications under proposed changes by the Australian federal government to prevent data leakage.

14.11.2006 Different wines from the same grape: Basel II in Brussels and Washington
The American and European banking sectors have very different approaches to the interpretation and application of the Basel II Accord...

24.10.2006 Europe mulls data breach notification law
Europe looks set to adopt a data breach notification law that will oblige telecoms companies to inform their clients if their personal data is compromised...

24.10.2006 Russian banks look to reduce the costs of Basel II
The Association of Regional Banks of Russia has sent the State Duma amendments to the Tax Code that would compensate the cost of complying with Basel II...

17.10.2006 High SOX 404 costs explained
A study has revealed that the high costs of complying with SOX section 404 are due to inactivity by the Securities and Exchange Commission and the incomplete nature of COSO 1992...

09.10.2006 FTC strikes back in war on privacy
An Internet firm that sold people’s telephone numbers and credit card details has agreed to US Federal Trade Commission demands to halt its business and pay a fine...

03.10.2006 Switzerland adopts Basel II Accord
Switzerland has adopted the Basel II Accord and it is due to come into force next January. According to experts at InfoWatch, Swiss banks could gain a significant competitive edge as a result...

27.09.2006 British banks wary of Basel II
Two thirds of British banks are only willing to do the “bare minimum” to meet the requirements of Basel II in order to avoid problems with regulatory bodies...

19.09.2006 Delayed US adoption of Basel II poses major problems
The EU and Basel Committee members countries are supposed to start using advanced approaches for measuring operational and credit risks from the end of 2007, but in the US a handful of the largest banks are only due to comply with Basel II as of January 2009...

11.09.2006 Basel II fails to get off the ground in US
US regulatory bodies have released a new draft of Basel II softening the requirements for banks’ reserve capital. Analysts at InfoWatch believe US bankers are afraid of losing their leading position on the world’s financial markets...

14.08.2006 Data breach bills awaiting Congress decision
A number of bills on data breaches have been sent to the US Congress for deliberation, but if the current level of activity devoted to the issue is anything to go by, it could be some time before one of them becomes law...

09.08.2006 US banks seek Basel II leniency
Four of the biggest banks in the US want to make major changes to new reserve capital rules. They have now asked Federal Reserve officials to let them adopt a simplified version of the Basel II Accord...

07.08.2006 Russian information code in the making
The Russian government only talks about protecting information, but is incapable of fulfilling its obligations. That was the official view of the powers-that-be upon the adoption of several new laws in recent weeks...

04.08.2006 Personal data safeguards extended to Russian labor code
October 2006 will see a number of amendments to the Russian Labor Code come into force. Some of the more important amendments are aimed at protecting the personal data of employees...

31.07.2006 Putin approves Russian personal data law
On July 28 Russian President Vladimir Putin signed the bill “On personal data” into law...

20.07.2006 Russian senators get a taste for IT laws
Russia’s senators have approved the law “On information, information technologies and the protection of information”...

19.07.2006 SEC seeks new ideas for Sarbanes-Oxley’s section 404
A new concept for the PCAOB’s Auditing Standard No. 2 for measuring the effectiveness of internal controls could partially or completely exempt small businesses from section 404 of SOX...

18.07.2006 Russian senators give personal data law easy passage
The upper house of the Russian parliament has approved the law “On personal data” that will regulate the gathering and use of the population’s private details...

13.07.2006 The 'Basel II effect' on IT infrastructure at banks
IT infrastructure requirements are not explicitly written down in the Basel II Accord, though meeting the provisions of Basel II in full demands a substantial modernization of a bank’s data systems...

11.07.2006 Russia one step closer to personal data law
The draft bill “On personal data” has been passed by the Russian parliament, the State Duma, at its second reading. A clause relating to the creation of a national register was excluded...

10.07.2006 Another twist in the Enron case
With the recent death of Enron founder Kenneth Lay, experts at InfoWatch doubt that the US government will manage to seize the disgraced executive’s remaining assets...

29.06.2006 Bank of China says not listing in US to avoid Sarbanes-Oxley costs
Bank of China said it has no plans to list its shares on the US markets to avoid incurring 'unnecessary' additional costs related to the Sarbanes-Oxley law...

20.06.2006 SOX compliance costs fell in 2005
The overall cost of complying with the Sarbanes-Oxley Act (SOX) in 2005 fell by 6% for companies with revenues exceeding $1 billion, and by 16% for firms with revenues of less than $1 billion...

14.06.2006 SOX could become reality for LSE
If the London Stock Exchange comes under U.S. ownership, companies registered on the LSE will not be subject to Sarbanes-Oxley. However, in the longer term such a takeover could “theoretically” make it possible...

01.06.2006 Basel II takes Asia by storm
Virtually all of Asia has voiced its intention of adopting Basel II, with the stronger economies of Hong Kong, Singapore and Australia planning to do so shortly after 2008...

30.05.2006 Court verdict closes Enron affair
A U.S. federal jury has found the two former bosses at Enron guilty of fraud. They will learn their sentences on Sept. 11, with both of them facing over 100 years in prison...

26.05.2006 Ex-employees have no rights to company data
The Delhi High Court has made a landmark ruling prohibiting four former employees from making use of their ex-employer’s proprietary data and confidential information...

25.05.2006 U.S. to closely monitor Basel II progress
Financial authorities in the U.S. have stated they will do everything they can to ensure that Basel II does not undermine the strong capital base at U.S. banks...

24.05.2006 Five-year jail terms for covering up data leaks
The latest bill on data breaches to be debated by Congress could force companies to disclose any leaks within 14 days of the incident or face a fine of up to $1 million and up to five years in prison...

23.05.2006 U.S. Republicans set to tackle SOX
U.S. Republican lawmakers have said they intend to introduce a bill to Congress that would exempt small businesses from some aspects of Sarbanes-Oxley...

23.05.2006 SOX stalwarts concede ground
The Securities and Exchange Commission and the Public Company Accounting Oversight Board are prepared to reform the Sarbanes-Oxley Act to reduce the costs that small businesses incur...

19.05.2006 Three more U.S. states adopt data breach laws
Indiana, Wisconsin and Nebraska have been added to the list of U.S. states with their own data breach laws, bringing the total number to 26...

17.05.2006 SOX forcing public companies to go private
A report by U.S. congressional auditors has concluded that the costs of complying with the Sarbanes-Oxley Act (SOX) of 2002 have been higher than anticipated...

15.05.2006 Basel III – the biggest fear after Basel II
A recent survey by ICBI on risk management has revealed that Basel II is the biggest concern for financial companies in the U.S., though the majority are confident of meeting the compliance deadline...

13.05.2006 British data leak row highlights need for legislation
MasterCard and Visa have refused to identify the British retail company that leaked the credit card details of 4,000 consumers. The victims are now insisting they have a right to know...

12.05.2006 Whistleblowers misunderstand SOX
Experience has shown that Sarbanes-Oxley is failing to protect whistleblowers from retaliation by their employers. The safeguards promised by the act have failed to materialize when cases end up in court...

12.05.2006 SOX compliance needn’t break the bank
Foreign companies represented on the U.S. stock exchanges are currently so immersed in the task of complying with Section 404 of SOX that they have lost sight of the long-term effects of their actions...

12.05.2006 SOX hardships fail to deter investors
Another senior member of the U.S. Securities Exchange Commission has voiced his opposition to small and microcap companies getting exemptions from a number of SOX provisions...

11.05.2006 Businesses stalling U.S. federal law on data leakage
A series of high-profile data leaks last year in the U.S. sparked a flurry of activity in Congress and it seemed as if a much-needed national law would be passed at any moment...

11.05.2006 Basel II deadline nears for India’s banks
India's commercial banks have until March 31, 2007 to meet the provisions of the Basel II Accord, but the head of the country’s main regulatory body says it will eventually affect companies working in insurance and securities...

02.05.2006 Arizona eyes toothless data leakage bill
U.S. Senate Bill SB 1338 could shortly force companies working in the state of Arizona to inform consumers if their private data is compromised. However, according to the law, the final decision – to inform, or not to inform — will be taken by the company involved...

19.04.2006 E-mail archives causing problems for British business
Everything points to the fact that the managers of British companies are still incapable of storing electronic data in line with statutory obligations...

17.04.2006 U.S. lawmakers propose yet another bill on confidential data
U.S. legislators have proposed another bill that addresses data leaks and that resembles a state law that has been in effect in California for the last three years...

11.04.2006 GLBA privacy notifications face changes for the better
U.S. federal regulators have devised a prototype for financial privacy notices within the framework of the Gramm-Leach-Bliley Act. If the new version successfully passes a test period...

10.04.2006 No reprieve for small businesses wrestling with SOX
The chairman of the U.S. Securities and Exchange Commission has spoken out against any possible exemptions from Section 404 of the Sarbanes-Oxley Act for small businesses...

07.04.2006 Can regulatory compliance be exported from company to company?
A number of analysts believe that any financial organization that manages to comply with all the regulatory acts and standards in force today can export their infrastructure and sell it to competitors...

06.04.2006 Finalized version of Basel II published for U.S. banks
A finalized version of the Basel II accord for U.S. banks has been released for comment. Banks will have to work with Basel I and Basel II simultaneously for one year before the Basel II provisions can be fully adopted...

04.04.2006 U.S. bill promises heavy fines for sales of telephone records
A bill passed by a U.S. Senate committee looks set to ban the sale of telephone records. If the law is adopted, the Federal Communications Commission would be able to impose hefty fines for the sale of other people’s records...

03.04.2006 $5M fine for every private data leak
A U.S. House committee has approved a bill that would introduce a national standard for safeguarding personal information and monitoring data leaks...

01.04.2006 U.S. offered yet another weak bill on data leaks
This time the bill has come from the Financial Services Committee of the U.S. House of Congress. The draft legislation would allow companies themselves to decide whether or not to inform the public of a data leak...

31.03.2006 Insider given 10-year sentence for selling FBI medical records
Ten years behind bars and a fine of $250,000 – that was the penalty for a hospital worker who tried to sell the private medical records of an FBI agent...

29.03.2006 Large businesses getting to grips with SOX spending
A recent survey by the Business Roundtable shows that almost all of those polled are sure that their expenses on the Sarbanes-Oxley Act will not increase in 2006...

28.03.2006 United States: Security Breach Notification Requirements: Guidelines and Securities Law Considerations
Hardly a week passes without a news story about the theft of personal data from a computer database of a major company or organization. In 2005 alone, the personal information of at least nine million people was compromised...

27.03.2006 A Law Divided: PCAOB Guidance at Odds with SEC?
Will external SOX audits reflect kinder, gentler control assessments? Recent SEC guidance stresses "reasonable" vigilance. But the PCAOB response to last years' audits might leave companies toeing a harder line...

27.03.2006 Identity theft victims to get additional passport
Will a special “passport" issued to victims of identity theft help protect them from charges leveled by the police and credit organizations?..

24.03.2006 SOX helping to solve IT security problems
Research carried out by the IT Governance Institute has shown that companies adhering to the conditions of the Sarbanes-Oxley Act do not suffer any serious IT security problems...

23.03.2006 Business lobby vents anger at SOX
The U.S. Chamber of Commerce, a traditional business lobbying group, has criticized the Securities Exchange Commission for its over-zealous regulatory methods...

21.03.2006 Canada gets its own version of SOX
New proposals will see Canada get its own version of the Sarbanes-Oxley Act. Public companies will have to prove to the Canadian Securities Administrators that they have effective internal controls over financial reporting...

17.03.2006 New risk assessment standards unveiled by AICPA
The American Institute of Certified Public Accountants has approved a series of new auditing standards for assessing risks linked to the fraudulent or erroneous assessment of a company's material assets...

15.03.2006 Sarbanes-Oxley strikes fear into top managers
A recent survey has revealed that directors from around the world are afraid of making mistakes and falling foul of the Sarbanes-Oxley Act...

13.03.2006 Sarbanes-Oxley devours $6Bln annually
Various respected sources have reported that the cost of complying with corporate regulations has doubled in the last three years...

11.03.2006 Online game operator faces lawsuit for mass identity theft
NCsoft, the creator of the computer games Lineage and Lineage 2, faces a lawsuit from thousands of identity theft victims in South Korea. It is believed 230,000 stolen identification numbers were used to register for the online games...

06.03.2006 Calls for easing of Sarbanes-Oxley meet resistance
A proposal by a subcommittee of the Securities and Exchange Commission to ease auditing checks of smaller businesses' internal controls has met with opposition from a former Federal Reserve chairman and a former SEC chairman...

25.02.2006 Are Europe's whistleblowers safe?
Conscientious employees voluntarily informing law enforcement agencies and regulatory bodies about violations by their employers are one of the most powerful aspects of the Sarbanes-Oxley Act. However, European laws do not provide the same level protection for whistleblowers...

24.02.2006 Russia unveils new understanding of state secrets
As a result of ambiguities surrounding the interpretation of numerous terms used in the list of information constituting state secrets, a decree was signed by the Russian president in mid-February establishing strict new definitions...

23.02.2006 Russians won't be subjected to State Population Register
Before the Russian parliament, the State Duma, began deliberating the second reading of the draft law “On personal data", President Vladimir Putin informed legislators that he viewed the inclusion of article No. 23 (on personal data identifiers) and article No. 24...

22.02.2006 Compliance with regulations top priority for banks
This is the conclusion that Fundtech reached following a poll of 72 national and regional banks in the United States...

20.02.2006 Bank of Russia unveils new standard for IT security
The Bank of Russia has approved a new version of the standard act “Information Security of Organizations of the Banking System of the Russian Federation". For the time being the act is of an advisory nature for Russian lending organizations...

17.02.2006 PCAOB approves Auditing Standard No. 4
The PCAOB has approved an auditing standard concerning audit reports in cases when a previously reported material weakness continues to exist...

17.02.2006 Reassessing the dangers of lost data tapes
Companies often lose magnetic tapes with confidential information. But just what are the chances of that information causing anyone any harm? Information security experts at InfoWatch believe the chances of that data being used for illegal purposes are about the same as the chances of winning the lottery or being struck by lightening...

15.02.2006 U.S. lawmakers unite to combat online telephone fraud
The state of Washington looks set to adopt a bill outlawing the sale of private cell phone records over the Internet. The bill could serve as a prototype for a federal law to protect private data related to cell phone use...

14.02.2006 Sarbanes-Oxley compliance costing firms $1M for every $1Bln earned
A survey conducted by AMR has revealed that companies are spending $1 million for every billion dollars in revenues in order to comply with the Sarbanes-Oxley Act...

10.02.2006 State of Colorado clamps down on private data leaks
A bill put forward for consideration in the U.S. state of Colorado sets out tough new regulations for database operators in the event of a leak. Companies would be required to inform victims either in letter or electronic form, or even via state-wide media in the case of a major leak...

09.02.2006 U.S. war on sales of private telephone data widens
The third largest mobile telephone operator in the U.S., Sprint Nextel, has filed a lawsuit against All Star Investigations alleging that the firm fraudulently accesses and sells private telephone records on its sites detectivesusa.com, miamiprotection.com and privatedectivesusa.com.

08.02.2006 AT&T faces $100,000 fine for mislaid privacy report
The U.S. Federal Communications Commission has proposed fining AT&T Inc. $100,000 for failing to file an annual report detailing its compliance with the FCC's customer privacy-protection rules.

08.02.2006 Sarbanes-Oxley's section 404 costing firms 20 times more than expected
Section 404 of the Sarbanes-Oxley Act has resulted in unforeseen difficulties and excessive costs for companies, according to a member of the U.S. Securities and Exchange Commission. He said companies are paying 20 times more than expected to comply with section 404. According to InfoWatch, the effects of the Sarbanes-Oxley Act are unlikely to ease for the next 2-3 years at least.

02.02.2006 U.S. firms selling private telephone data face legal onslaught
The U.S. judicial system has demonstrated its effectiveness after a court blocked the work of 1st Source Information Specialists, which faces a series of lawsuits for selling the telephone records of Americans over the Internet...

01.02.2006 U.S. state laws on confidential data breaches
Since Jan. 1, 2006 the group of U.S. states with their own legislation on sensitive data leaks has been joined by New Jersey, Louisiana and Illinois. The number of states regulating confidential and private information has now reached two dozen...

31.01.2006 Russian security services cite safety record in bid to control ID database
The Russian parliament, the State Duma, is examining amendments to the draft law "On personal data" trying to take into account the demands of the Church as well as decide on who will supervise those using the information. The KGB's successor agency, the FSB, has already expressed an interest in the latter role...

28.01.2006 Sarbanes-Oxley Act fails to protect Non-American whistle-blowers
The whistle-blower protection measures of the Sarbanes-Oxley Act do not extend to foreign employees of overseas subsidiaries of U.S. firms, according to a recent court ruling. Some related issues still remain open to question, however...

27.01.2006 Russia backs new personal data law
Russians have expressed their overwhelming support for proposed new legislation governing personal data. According to a recent opinion poll, less than 3.5% of Russians feel their personal details are safe, while almost 25% believe they are anything but secure...

26.01.2006 Lords reject British ID cards on three counts
The House of Lords, Britain's upper house of parliament, has dealt three blows to the government's plans to introduce national ID cards. Uncertainty surrounding the costs, fears over the security of the information contained on the cards and their impact on the everyday lives of Britons has thrown the future of the cards themselves into doubt...

25.01.2006 U.S. senators push for ban on phone record sales
U.S. senators have announced two new bills following the American public's amazement at recent reports that revealed just how easy it was to acquire almost anyone's private cell-phone records...

24.01.2006 IT Governance Institute launches CobiT update
The IT Governance Institute has released the most significant update to the management standard for information infrastructure since 2000. The new version places more emphasis on the responsibilities of boards and employees...

20.01.2006 New guidelines issued for GLB compliance at smaller banks
Small-Entity Compliance Guide is intended to aid compliance with previously issued interagency guidelines...

20.01.2006 Rigorous new law to protect private data in U.S.
Described as one of the nation's toughest laws, the New Jersey Identity Theft Protection Act came into effect on Jan. 1, 2006 in the state of New Jersey...

20.01.2006 Protection of private data becomes priority for Canadians
The wave of legislative initiatives to protect private data has made its way to Canada. The country's Green Party has proposed a bill that would compel banks, credit agencies and other institutions to inform clients when their personal information had been compromised...

20.01.2006 British oil giant announces staggering SOX bill
British Petroleum has spent $100 million on compliance as a result of being listed on the NYSE...

20.01.2006 SEC advisory panel takes first official step toward graduated compliance
Vote overwhelmingly favors idea of exempting small public companies from some or all of SOX Section 404 requirements...

19.01.2006 Sarbox compliance costs to fall 40%
The costs of complying with Section 404 of the Sarbanes-Oxley Act are expected to drop by 40% in the second year under the new rules, according to a survey...

22.12.2005 SOX Section 404 audit problems identified by PCAOB report
After monitoring the implementation of Auditing Standard No. 2 the Public Company Accounting Oversight Board has issued a report on the problems it found...

20.12.2005 GAO cites SEC for continuing weaknesses in its internal controls
Problems found in 2004 remained through 2005, but no regulatory compliance issues were uncovered...

19.12.2005 Despite new regulations, financial fraud is on the rise, and internal audits are not the first line of defense
Despite or because of the global spread of corporate governance codes, reports of financial fraud rose 22 percentage points in the last two years, reported Pricewaterhouse Coopers...

15.12.2005 The Impact Of Sarbanes Oxley On Companies, Investors, & Financial Markets
Today's corporate environment is clouded by widespread suspicion and mistrust. The high-profile failures of Enron, WorldCom and Global Crossing, followed by the revelations of improper financial reporting in complicity with outside auditors led Congress to enact the Sarbanes-Oxley Act...

14.12.2005 Major Securities and Exchange Commission Accomplishments for 2005
The SEC has received an unqualified opinion on its 2005 financial statements. In its audit opinion, the Government Accountability Office (GAO) concludes that the SEC^™s financial statements are presented fairly...

07.12.2005 Banks chose to invest in people for SOX compliance
Most spent less than 10 percent on IT...

02.12.2005 Fraud investigators like SOX
A recent survey of certified fraud examiners found that most of them considered Sarbanes-Oxley to be an effective weapon against fraud, but they worry that corporate executives won't remain focused on the issue...

01.12.2005 Graduated compliance for smaller companies?
Subcommittees of the SEC's Advisory Committee on Smaller Public Companies last week presented some preliminary proposals that would grant smaller firms certain exemptions to Sarbanes-Oxley Section 404 auditing requirements...

30.11.2005 Digital data security requirements for federal agencies still being tweaked
Mandatory security practices for federal agencies will probably not be revised until next February, and until then the National Institute of Standards and Technology will continue to accept suggestions for the revision...

28.11.2005 Microsoft calls for federal data privacy legislation
Recoiling from the idea of 50 different state privacy laws, Microsoft has come out in favor of a federal standard for personal data security...

25.11.2005 Federal Data Theft Law Unlikely to Pass Before 2006
CSO Magazine supposes that there too many weak data theft bills in Congress, so lawmakers don't have time to pass an effective legislation before 2006. As for toothless acts that are proposed by some organizations, they don't have a chance...

22.11.2005 One More Weak Federal Data Leakage Law Candidate
Congress is going to examine one more bill called the Data Accountability and Trust Act. Although the legislation require companies whose data is compromised to notify each individual affected in writing, it has very weak “security breach" definition...

21.11.2005 Federal agencies confront government version of SOX
New fiscal year brings into effect Circular A-123, which imposes internal controls within Federal agencies similar to those required of private firms by Sarbanes-Oxley...

20.11.2005 SEC Charges 7 with Aiding and Abetting Financial Fraud
The Securities and Exchange Commission has filed enforcement actions against seven individuals alleging they aided and abetted a massive financial fraud by signing and returning materially false audit confirmations...

19.11.2005 Accelerated annual report deadlines draw fire
Under a proposed SEC plan, large corporations would have 60 days instead of 75 to file their annual reports after the end of a fiscal year...

16.11.2005 Ernst&Young on regulatory compliance
According to Ernst&Young, regulatory compliance is now the key driver for two thirds of firms worldwide. Focusing on the problem, companies are failing properly to asses the risks of dealing with suppliers and outsourcing partners. The second serious problem is information leakage prevention and control over mobile devices and portable storages...

11.11.2005 Congress Is Going to Pass Toothless Data Theft Law
Federal lawmakers are going to pass the law that will address national data theft problem. However many privacy and security experts suppose that the zeal to see legislation passed may result in a toothless nationwide law which is weaker than state measures already in place...

03.11.2005 Donald Nicolaisen & Alan Beller Comment on New COSO Guidence On Section 404 Compliance
The staff will continue to monitor and assess the effects of the internal control reporting rules on smaller public companies...

03.11.2005 BPOs May Not Be Liable For Data Theft
An amended Indian IT Act will exclude BPOs from being a network service provider. Hence outsourcing firms will not be held liable for any clients' sensitive data theft that will probably incerase insider trading and credit card or bank account details leakages...

02.11.2005 Alabama Is to Protect Citizens' Private Data
The Criminal Justice Information Center Commission of Alabama decided to change police reports form putting victims' personal information and details about crimes out of public view...

17.10.2005 Basel risk tutorial for banks
The Reserve Bank of India today asked commercial banks to put in place a framework that would ensure management of operational risk as an independent function within the organisation...

04.10.2005 Sarbanes Oxley for IT Security?
Sarbanes Oxley seems wholly focused on the accuracy of a company's financial records and controls around these records, so where does IT security come into the picture?...

04.10.2005 The Current State of SOX 404
The curtain went down on Act One of Sarbanes-Oxley a couple of weeks ago. In April, the Securities and Exchange Commission (SEC) held an open discussion in Washington and a compliance software vendor, Certus, put on their own conference in San Francisco called Frontlines...

04.10.2005 Stiffer penalties for data theft proposed in India
A committee set up by India's Ministry of Communications and Information Technology to amend the country's Information Technology Act 2000 has recommended tighter provisions and stiffer penalties for data theft...

03.10.2005 Basel II Compliance: Another Burden for European CSOs?
The Basel II capital adequacy framework is a regulatory tool that is designed to help mitigate the risk that haunts financial institutions. Its designers had a clear purpose in mind...

14.09.2005 EU privacy law poses compliance challenge for IT, warns Gartner
Preventing the release of confidential information will be a major challenge for IT directors as they strive to comply with the EU Privacy Directive, analyst firm Gartner has warned...

14.09.2005 Congress looks to pass data breach law
The U.S. Congress will look to pass consumer data protection legislation as it returns next week from its mid-year recess, but if Congress fails to act, a tough new state law will force interstate companies to disclose virtually all data breaches, no matter how small the risk...

11.09.2005 Information-Intensive Regulations
The introduction of several industry and government information-intensive regulations [such as European Union Data Protection Directive, Insurance Portability and Accountability Act (HIPAA), Sarbanes-Oxley Act of 2002 (SOX), the US Patriot Act, Gramm-Leach Bliley Act (GLBA) California SB 1386, Basel II, and others in recent years has made the issue of safeguarding private and sensitive information a major concern for organizations....

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