Covington Discusses NY Financial Services Department Guidance on Data Privacy and Cybersecurity

By Micaela McMurrough, Caleb Skeath, Miranda Rutherford & Analese Bridges November 7, 2025 by jlucero

On October 21, 2025, the New York State Department of Financial Services (“NYDFS”) issued an industry letter (the “Guidance”) highlighting the cybersecurity risks related to Covered Entities’ use of Third-Party Service Providers (“TPSPs”) and providing strategies to address these risks. …

Skadden Discusses Government Expectations for Companies’ Data-Driven Compliance Programs

By Gary DiBianco, Raquel Fox and Gretchen M. Wolf October 19, 2021 by renholding

As artificial intelligence and other data tools have proliferated, regulators and prosecutors expect companies to utilize sophisticated data analytics as part of their compliance programs. They also expect directors to take an active role, understanding and overseeing these data-driven compliance …

SEC Commissioner Peirce Speaks before National Economists Club

By Hester M. Peirce December 13, 2019 by renholding

Thank you, Cliff [Waldman] for that kind introduction. It is an honor to be among economists today. I am not sure why, but every time I speak to economists, I feel compelled to tell a joke. Maybe it is because

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The Future of Data Driven Finance: Financial Regulation, Data Regulation, and RegTech

By Dirk A. Zetzsche, Douglas W. Arner, Ross P. Buckley and Rolf H. Weber April 15, 2019 by renholding

Fifty years ago, banking was a relationship business. Bank managers collected information about depositors and borrowers from all sorts of sources, formal and informal. In recent decades, credit decisions have become far more data-driven, with companies like Amazon and the …

When Good Incentives Are Not Enough: The Quest for Financial Data Standardization

By Richard Berner and Kathryn Judge January 29, 2019 by renholding

Data standardization – the process of developing and implementing rules for how data are described and recorded – offers significant benefits for financial firms and regulators. Nonetheless, the topic has received only scant attention from academics, and regulatory efforts to …

Market Data, the SEC and Stock Exchanges: Reopening Pandora’s Box?

By Georges Ugeux November 7, 2018 by renholding

Every security traded in public markets represents several data points that can be valuable to future trades (not to mention compliance). The Regulation National Market System (or “Reg NMS”) grants exchanges, licensed as self-regulatory organizations (“SROs”), the responsibility to disseminate …

Measuring Regulation Based on Industry Response

By Michael Simkovic August 9, 2018 by renholding

Despite the central role of government regulation in academic inquiry and policy evaluation, there is no universally accepted way to measure how changes in regulatory complexity and intensity affect private industry at different times. This lack of a standard methodological …

Arnold & Porter Discusses How CLOUD Act Revamps Government Access to Data

By L. Charles Landgraf, Amy Jeffress, John Bellinger, Ron Lee, Charles Blanchard and Andy Wang April 12, 2018 by renholding

The massive 2,232-page, $1.3 trillion spending bill signed into law on March 23 by President Trump does more than just fund the government. The bill also contains a provision that will have a significant impact on data privacy. Tacked on …

Commissioner Kara Stein Offers a Vision for Data at the SEC

By Kara M. Stein November 3, 2016 by renholding

Thank you, Michael [Barr], for that kind introduction. Thank you also to the University of Michigan and the Office of Financial Research for organizing this important conference. I am pleased to be here with you today. This conference is a …

Seeking a Safe Harbor in a Widening Sea

By Scott Shackelford November 4, 2015 by ilyabeylin

In a move that could cost the EU up to 1.3 percent of its gross domestic product, according to the American Chamber of Commerce to the European Union, on Oct. 6 the European Court of Justice invalidated the 15-year old …

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