The New York State Department of Financial Services urged the DOL to reconsider a proposed amendment that requires plan fiduciaries to recommend investments based solely on financial considerations, arguing that the amendment would discourage the consideration of environmental, social and governance-related investments.
The California Attorney General proposed additional modifications to proposed regulations for the California Consumer Privacy Act. The Act went into effect on January 1, 2020, and will be enforced starting July 1, 2020.
A New York State Senator introduced legislation that would (i) prohibit law enforcement from using biometric surveillance technology and (ii) create a task force to evaluate whether such technology could be used in the future.
The California Attorney General proposed draft regulations to the soon-to-be effective California Consumer Privacy Act. The proposed regulations provide clarity on the collection and use of personal data by businesses and organizations.
The New York State legislature passed the "Stop Hacks and Improve Electronic Data Security Act" to enhance cybersecurity protections for New York residents by updating the state's existing data breach notification law.
New York State Department of Financial Services Superintendent Maria Vullo reminded regulated entities that they must be in full compliance with the requirements of NYDFS cybersecurity regulation by March 1, 2019.
New York Department of Financial Services cybersecurity rules went into effect on August 28, 2017. Cadwalader attorneys reviewed the rules and prepared a visual brief highlighting specific implementation dates.
The Investment Company Institute criticized a State of California final feasibility report recommending the establishment of state-run, tax-advantaged, retirement investment plans for workers who do not have access to an employer-sponsored retirement savings plan.