transcript   Transcript

Cyber Security Regulations and Risks for Law Firms with Banking/Financial Services Clients

Recorded on: Jan. 17, 2018
Running Time: 00:58:30

Full Transcript:



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Taken from the Web Program Cybersecurity Best Practices for Legal Services Providers Recorded January 2018 in New York

Cyber Security Regulations and Risks for Law Firms with Banking/Financial Services Clients [00:58:30]

  • General Background (e.g. listing specific hacks and evidence that 80 of top 100 law firms have been hacked)
  • Particularly valuable data on clients (information helpful to insider trading in case of M&A transactions, intellectual property, business strategies)
  • Attacks from Nation-State actors (Russia, China, Syria, Ukraine, Iran)
  • Conditions of Retention by Banking clients (client-initiated audits, requiring documentation as condition for retention, forcing law firms to do no work that can be reached by public network)
  • Client issues with secrecy, lack of disclosure (Citigroup report)
  • Is threat overstated?
  • Reputation risks of being hacked (could cause client poaching, competitive disadvantages incentive to not join organizations or info sharing groups)
  • OCC Risk Management Guidance
  • NIST Cyber Security Requirements

Jane Shahmanesh, William Tanenbaum

The purchase price of this Web Program segment includes the following articles from the Course Handbook available online:

  • Client Files; Confidentiality; Law Firms, ISBA Prof. Conduct Adv. Opinion No. 16-06 (October 2016)
  • Framework for Improving Critical Infrastructure Cybersecurity (February 12, 2014)
  • Confidentiality; Remote Access to Firm’s Electronic Files, NYSB Comm. on Prof. Ethics Opinion 1019, August 6, 2014
  • Fiscal Year 2018 Bank Supervision Operating Plan
  • Cybersecurity Requirements for Financial Services Companies
  • OCC Bulletin 2017-43, New, Modified, or Expanded Bank Products and Services (October 20, 2017)

Presentation Material
  • Cyber Security Regulations and Risks for Law Firms with Banking/Financial Services Clients
    Jane Shahmanesh, William A. Tanenbaum
  • Cyber Security Regulations and Risks for Law Firms with Banking/Financial Services Clients
    Jane Shahmanesh, William A. Tanenbaum
(s)
Jane Shahmanesh ~ Managing Director, Adherence LLC
William A. Tanenbaum ~ Polsinelli
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