Cybersecurity Incident Response Plans: The Who, What, When, Where, Why and How

(96 Ratings)

Produced on: August 16, 2016

Course Format On Demand Audio

Taught by

Categories:

Course Description

Time 62 minutes
Difficulty Intermediate

All too often, companies think that if they don't maintain consumers' personal information, their risk of falling victim to a cyberattack is low. Unfortunately, these incidents occur in companies of all sizes and industries — and they are happening with increasing frequency. Companies should no longer anticipate that these breaches may happen. They should instead take the viewpoint that an attack will happen, and they will be prepared.

Cyber preparedness, including a cybersecurity incident response plan (SIRP), has become a baseline requirement of any company's overall risk management strategy. In the immediate wake of a crisis, companies should be able to quickly determine, among other things, who is making decisions, how internal and external communication will be handled, and what steps can be taken to quickly restore confidence and operating continuity. In this program, attorneys Jessica Cohen, Jocelyn Strauber, and Marc Gerber discuss SIRPs and how the first 24, 48 and 72 hours can mean the difference between a breach that is manageable and one that gets out of control. In addition, they address the fact that a company's Board of Directors plays an important role in overseeing cyber preparedness and how investors increasingly scrutinize Boards' actions in this area. 


Learning Objectives:

  1. Understand  the Board's role regarding cybersecurity and incident response plans
  2. Identify key considerations for developing a response plan and how it fits into a company's overall risk management strategy
  3. Develop best practices for conducting a tabletop exercise to evaluate the functionality of a SIRP
  4. Recognize the role of a response plan in defending against legal claims and minimizing damages

Faculty

Marc S. Gerber

Skadden, Arps, Slate, Meagher & Flom LLP

Marc S. Gerber concentrates his practice in the areas of mergers and acquisitions, corporate governance, and general corporate and securities matters. Mr. Gerber has represented purchasers and sellers in a wide variety of transactions, including private acquisitions and divestitures, negotiated and contested public acquisitions, and proxy fights. Mr. Gerber also counsels clients in private equity transactions and in cross-border joint ventures and other strategic alliances. 

Mr. Gerber advises numerous clients on a full range of corporate governance and related matters, including advising clients on compliance with the corporate governance provisions of the Dodd-Frank Act and the provisions of the Sarbanes-Oxley Act, the rules and regulations of the Securities and Exchange Commission (SEC) and the listing requirements of the New York Stock Exchange and NASDAQ Stock Market. In addition, he counsels clients on matters concerning their annual meetings and proxy statements, including responding to shareholder proposals and interacting with shareholders and proxy advisory firms. Mr. Gerber also advises companies, boards of directors and board committees on corporate governance topics such as shareholder rights plans, advance notice bylaws, proxy access, board independence and board self-evaluation. He was listed in Best Lawyers in America in 2016.

Some of Mr. Gerber’s significant transactions include the representation of: 

  • Alexander & Baldwin, Inc., a real estate and agribusiness company, in its acquisition of Grace Pacific Corporation;
  • Spectra Energy Corp in its acquisition of the Express-Platte pipeline system from Kinder Morgan Energy Partners, LP, the Ontario Teachers’ Pension Plan and Borealis Infrastructure;
  • Human Genome Sciences, Inc. in its initially unsolicited, but subsequently agreed upon acquisition by GlaxoSmithKline plc;
  • Alexander & Baldwin, Inc., a real estate, agribusiness and ocean transportation company, in its separation into two public companies, Alexander & Baldwin and Matson, Inc.;
  • The Bureau of National Affairs, Inc. in its acquisition by Bloomberg Inc.;
  • Serco Group plc, an international service company, in its acquisition of SI International, Inc.; 
  • Global Insight, Inc., a provider of economic and financial information, in its acquisition by IHS Inc.; 
  • ArcelorMittal, an integrated metals and mining company, in its acquisition of the Mid Vol Coal Group; 
  • Fortunoff in its acquisition by NRDC Equity Partners LLC (the parent company of Lord & Taylor); 
  • the Special Committee of the Board of Directors of Total System Services, Inc., a provider of outsourced payment services, in the spin-off of Total System Services from Synovus Financial Corp.; 
  • Rite Aid Corporation in its acquisition of the Brooks and Eckerd drugstore chains from The Jean Coutu Group (PJC) Inc.; 
  • Banco Itaú S.A. in connection with restructuring its strategic marketing alliance with America Online Latin America, Inc.; 
  • Sul América S.A. in connection with expanding its joint venture with ING Insurance International B.V.; 
  • SunTrust Banks, Inc. in its proxy contest with Wachovia Corporation; 
  • Eastman Chemical Company in its acquisitions of McWhorter Technologies, Inc. and Lawter International, Inc.; 
  • Primark Corporation in its acquisition by The Thomson Corporation; 
  • KN Energy, Inc. in its merger with Kinder Morgan, Inc.; and 
  • Great Western Financial Corporation in its proxy contest with H.F. Ahmanson & Co.

Bar Admissions

New York

District of Columbia

 

Education

J.D., Georgetown University Law Center, 1993 (magna cum laude, Order of the Coif, articles editor, Georgetown Law Journal)

B.S.E., University of Pennsylvania, 1989

 

Experience

Law Clerk, Hon. Richard J. Cardamone, U.S. Court of Appeals, Second Circuit

Jessica Cohen

Skadden Arps Slate Meagher & Flom LLP

Jessica Cohen focuses on intellectual property and technology issues in a wide variety of transactions, including licensing and development agreements, outsourcing agreements, service agreements, strategic alliances, and mergers and acquisitions. As part of Skadden’s Intellectual Property and Technology Group, Ms. Cohen counsels clients both large and small on intellectual property protection and ownership issues, and technology implementation and maintenance issues. Ms. Cohen also advises clients on general commercial contract issues, including those arising in manufacturing and supply arrangements.

Projects on which Ms. Cohen has worked include representing:

  • The McGraw-Hill Companies, Inc. in a series of HR outsourcing arrangements with various providers;
  • Citicorp North America, Inc. in a multiyear arrangement with HCL Technologies Ltd. for the construction and maintenance of a captive facility in India;
  • Zynga Inc. in negotiations with Facebook regarding use of the Facebook platform;
  • The Middleby Corporation in various arrangements for the licensing and development of industrial conventional and microwave oven technology;
  • The Coca-Cola Company in multiyear IT and financial services arrangements relating to its Philippines bottling joint venture with Coca-Cola FEMSA, S.A.B. de C.V.;
  • Dow Corning Corporation in various arrangements for the supply of silicon metal;
  • The NASDAQ Stock Market, Inc. in its $3.7 billion acquisition of the Nordic exchange operator OMX and the related multiyear global licensing of certain technology and trade- marks to Borse Dubai; and
  • Citigroup Inc. in a multiyear $500 million deal to outsource technology infrastructure and application development services to Wipro Limited.

Ms. Cohen serves on the advisory board for the Center for Family Life in Sunset Park, a neighborhood-based family and social services organization dedicated to improving the lives of residents in Sunset Park, Brooklyn.

Jocelyn E. Strauber

Skadden, Arps, Slate, Meagher & Flom LLP

Jocelyn Strauber represents companies and individuals in a wide array of criminal and civil enforcement matters. Prior to joining Skadden in 2013, Ms. Strauber held numerous roles at the U.S. Attorney’s Office for the Southern District of New York, including, most recently, co-chief of the Criminal Division’s Terrorism & International Narcotics Unit. In this role, she supervised investigations and prosecutions involving terrorism and national security, arms trafficking, money laundering, violations of export controls and economic sanctions, and global narcotics trafficking.

Ms. Strauber supervised the successful prosecution of several high-profile terrorism and national security cases, including Faisal Shahzad (attempted Times Square bomber) and Mansour Arbabsiar (in connection with a conspiracy to assassinate the Saudi Arabian ambassador to the United States). She also was part of the team that secured the guilty plea of Jamaican drug lord Christopher Coke. In 2011, she was the recipient of the Attorney General’s Distinguished Service Award.

Earlier in her career, Ms. Strauber clerked for U.S. Supreme Court Chief Justice William H. Rehnquist. She also served as a Bristow Fellow in the Office of the Solicitor General in the U.S. Department of Justice and clerked for the Hon. A. Raymond Randolph in the U.S. Court of Appeals for the District of Columbia Circuit.


Ms. Strauber’s experience includes representing, among others:

  • a broker-dealer in an ongoing Financial Industry Regulatory Authority investigation;
  • an individual in an ongoing SEC Foreign Corrupt Practices Act (FCPA) investigation;
  • an individual in an ongoing SEC federal district court action concerning an alleged viola- tion of a commission order suspending that individual from practicing accounting before the commission;
  • an international health care company in an ongoing cross-border SEC and Department of Justice FCPA investigation;
  • a major financial institution in connection with an ongoing U.S. economic sanctions investigation; and
  • JPMorgan Chase & Co. in the successful resolution of government investigations into the propriety of trading activities within its foreign exchange business, both in London and other jurisdictions globally. Skadden successfully negotiated resolutions with U.S. Department of Justice, Federal Reserve, Commodity Futures Trading Commission, Office of the Comptroller of the Currency, Hong Kong Monetary Authority and U.K. Financial Conduct Authority.


Publications

“United States,” Getting the Deal Through: Government Investigations (2015)

“Rule 180.1: The CFTC Targets Fraud and Manipulation,” New York Law Journal, April 7, 2014


Reviews

TC
Thomas C.

Thank you for your thoughtful presentation.

RM
Randi M.

Great overview (but sufficiently detailed) for non-cyber lawyers

RM
Richard M.

Great Course!

JB
Julie A. B.

Incident response is a critical component of Cyber Security safety and this presentation delivers vital information in this area.

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