This is the first topic for the CYBER MARKET PULSE, a series from us at eosedge Legal – Strategic Partner of IR Global offering commentary about cyber risks and the marketplace.
Today we are sharing a piece that offers insights about the changing legal landscape. To be precise, there are emerging legal regimes that are designed to protect data privacy. Across Europe and the United States, a Duty of Care is shaping up around data privacy. In Europe, the central regime is a compliance system that starts with the EU General Data Protection Regulation (GDPR). In the US, a combination of laws and litigation are signalling that a company’s failure to protect data privacy can carry financial consequences. If we assess what is happening, what is revealed is an affirmative obligation to take stock of cyber risks. That is, a Duty of Care has emerged.
In this article, Cybersecurity in 2019: Will It Be the ‘Tipping Point’?, my colleague Ian Corey and I (eosedge Legal) review several major incidents, from the Facebook controversy to nation-state hacking, to discuss changes that are occurring in the legal landscape. The key point made in the piece is that the establishment of a Duty of Care is pivotal. Duties, whether by regulation or case law, impose affirmative steps that organizations must pursue. Failure to adhere to duties carries financial penalties.
The CYBER MARKET PULSE is a series of informative pieces from myself and my colleagues at eosedge Legal. We offer data privacy and data protection services, including consulting, training, incident response, and compliance with the IR Global network and are more than happy to speak with you directly about our services. Please take a look at our website for more information – https://eosedgelegal.com/