- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-09-12T12:41:00
A final version of California’s cybersecurity audit rules likely won’t be released until later next year at the earliest, according to a rough timeline discussed by the state’s privacy rulemaking agency, which debated a preliminary draft of the rules Friday.
The draft cybersecurity rules were approved among sweeping amendments to the state’s 2020 data privacy law under the California Privacy Rights Act. The changes to the California Consumer Privacy Act (CCPA) created the California Privacy Protection Agency (CPPA) to write and enforce the rules.
The five-member CPPA board mainly debated two aspects of the cybersecurity rules Friday: which businesses should be required to conduct annual audits and what should be included in those audits.
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Companies with business in California could face tough new cybersecurity mandates under draft regulations that could be headed for formal rulemaking as soon as Friday.
The California Privacy Protection Agency drafted its rules to apply the rights allowed to residents under the California Consumer Privacy Act to automated decision-making technology used by businesses.
The need to prove network compliance is intensifying as lawmakers introduce new privacy legislation and organizations update their contractual security requirements for third-party vendors.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
