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Worldwide spending on security solutions and services is forecast to increase by 12.1% compared to 2022, reaching $219 billion in 2023, driven by the ongoing threat of cyberattacks and the need to meet data privacy and governance requirements.
The SEC has proposed new regulations to address cybersecurity risks for Market Entities, including broker-dealers and national securities exchanges, with requirements for policies, annual reviews, and public disclosure to improve transparency and prevent systemic harm to US securities markets.
The UK government has published a draft legislation, the Data Protection and Digital Information (No.2) Bill, to amend the UK GDPR, aiming to modernize and strengthen the UK’s data protection laws following the UK’s exit from the European Union.
The revised publication offers key practices for organizations to adopt as they develop their capability to manage cybersecurity risks within and across their supply chains.
The European Union (EU) and United States will establish a new Trans-Atlantic Data Privacy Framework for exchange of data between the EU and U.S. The new Framework would take the place of Privacy Shield.
Utah has become the fourth state to adopt omnibus consumer privacy legislation – following California, Virginia, and Colorado. Businesses operating in or serving consumers in Utah will need to comply by December 31, 2023.