On October 16, 2018 the Securities and Exchange Commission (“SEC”) issued an investigative report following investigations of nine public issuers who were victims of cyber fraud.
New Suit by Delta Reminds Everyone About the Importance of Data Security Protection in the Context of Third-Party Service Provider Relationships
In a recent lawsuit filed this month in the United States District Court for the Southern District of New York, Delta Airlines brought suit against its website chat services provider, [24]7, stemming from a 2017 data breach suffered by [24]7 that affected approximately 800,000 of Delta’s customers. Specifically, Delta alleges in its complaint that an attacker gained access to [24]7’s networks and modified the source code of its chat services so that the attacker could “scrape” payment card information from customers as they used the chat feature available on Delta’s website.
New York Continues Expansion of Protections Against Discrimination and Harassment
On August 12, 2019, Governor Andrew Cuomo signed legislation (S.6577/A.8421) that greatly expanded the protections for workplace discrimination and harassment. These additional protections come just a little over one year after the state enacted comprehensive legislation designed to combat sexual harassment.
Still Searching for Meaningful Change Following Massive Data Breaches
Large business data breaches - like the one affecting 100 million Capital One credit card customers and applicants - remain commonplace, so much so that they are becoming accepted as the new normal in today’s climate of consumer dealings. They shouldn’t be.
Update on Gifting: The Clawback Law Has Been Extended to January 1, 2026
As we wrote here earlier this year, Governor Cuomo proposed to extend the “clawback law,” which had expired on January 1, 2019, in his fiscal year 2020 Executive Budget. As a reminder, the clawback law pulled the value of all taxable gifts made within three years of a New York resident taxpayer’s death back into the New York resident taxpayer’s estate for New York estate tax purposes.
New York Raises the Stakes in Relation to Breach Reporting and Securing “Private Information”
Following up on our post from June 7, Governor Cuomo has now signed the SHIELD Act into law. New section 899-bb of the General Business Law, which creates substantive security obligations for all persons or businesses that own or license the defined “private information” of New Yorkers, goes into effect in 240 days, with the rest of the law taking effect within 90 days.
Defense Contractors Get Ready: DoD Close to Unveiling New Cyber Certification Program
The Department of Defense (“DoD”) recently announced that a new cybersecurity standard and certification program for defense contractors, the Cybersecurity Capability Model Certification program (“CCMC”), is currently under development and nearly ready for deployment.
What’s Old is New Again - NY SHIELD Act Passes the Senate
Cybersecurity law moves quickly and what may have been dead in one legislative session can come back in another to change the regulatory landscape in unexpected ways. Case in point, the NY SHIELD Act, S5575A, which passed in the New York Senate this week.
New York Changes Sole Member Rule
Effective July 1, the New York State legislature has modified a key provision of the Not-for-Profit Corporation Law (NPCL) regarding the ability of New York non-profits to establish a sole member structure. This change may require immediate adjustment to legal structures by affected non-profits.
More Paid Time Off to Vote in New York
New York has recently amended its voting leave law to make it easier for all employees to take time off to vote. Effective immediately, all employers in New York must provide employees who are registered to vote with “up to three hours” of paid time off at the beginning or end of a work shift to vote.
What I Learned from Teaching an Exempt Organizations Class
Most of my blog posts focus on current legal developments, however, for this one I thought I would mix things up and share what I learned while guest lecturing on exempt organizations for a recent law school “Law of Higher Education” class.
Effective October 15, 2018, New York City employers with four or more employees will be required to engage in a “cooperative dialogue” in response to employee accommodation requests for the following: disability-related accommodations; religious accommodations; accommodations related to pregnancy, childbirth or a related medical condition; and for the needs of a victim of domestic violence, sex offenses or stalking.
With Election Day around the corner, this is a question on many employers’ minds. Under the Voting Leave Law, found in Section 3-110 of New York’s Election Law, an employer must grant an employee paid time off if the employee does not have “sufficient time” to vote outside of his or her working hours.
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Final Materials and Guidance Released on New York State’s Sexual Harassment Prevention Laws
As discussed in our previous post, on April 12, 2018, Governor Andrew Cuomo signed into law the New York State Budget Bill which included “the nation’s most aggressive anti-sexual harassment agenda.” The draft guidance issued by the State on August 23, 2018 provided several significant policy and training requirements to address workplace sexual harassment. Yesterday, the Governor announced the release of the finalized materials and guidance after an active public comment period and some noteworthy adjustments were made to the draft guidance.
As described in my prior post, under revisions to Section 512 of the Code, taxpayers may no longer offset unrelated trade or business losses from one trade or business against income or gains from another trade or business.