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We open up our 2016 year interviewing Shawn Tuma on the show. Shawn is our legal eagle, and a regular contributor to the podcast. This episode ran a little bit long (OK a lot long) but I think you'll enjoy the show...

In this episode...

Most important cybersecurity-related legal developments of 2015
- Tectonic Shift that occurred with “standing” in consumer data breach claims
  - Discussion of law prior to Neiman Marcus case, and post Neiman Marcus
  - Does this now apply to all consumer data breach cases?
  - Immediate impact? Companies now liable?
  - Lesson is in seeing the trend and how incrementalism works
Regulatory Trends
- FTC & SEC gave hints in 2014, post-emergence of Target details
- Wyndham challenged authority – came to fruition in August 2015
- SEC not far behind – significant case in September 2015
- Aggressiveness of FTC is substantial – FTC v. LabMD … all over LimeWire
Officer & Director Liability
- 2014 – SEC Comm. fired the warning shot … pointed the finger
- Shareholder derivative litigation
- Individual liability of IT / Compliance / Privacy “officers”
Major 2016 Legal Trends
- Regulatory enforcement … which, by the way, is why NIST is becoming default
- Shareholder Derivative – much more likely than consumer class actions at this time
- Lessons from both of these: when you need to persuade the “money folks” that they need to act, mention D&O Liability (especially Caremark) and Regulatory focus on individuals … now they're in the cross-hairs
- Realization that cybersecurity is more of a legal issue than anything else (IT or business) b/c it is the legal requirements and consequences that ultimately drive everything

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DtSR Episode 176 - 2015 InfoSec Legal Review

Down the Security Rabbithole Podcast (DtSR)

DtSR Episode 176 - 2015 InfoSec Legal Review