Cybersecurity and related cyberlitigation issues continue to
emerge and become top of mind for businesses. The frequency
of cybersecurity attacks is startling. Research conducted in
2012 by the International Cyber Security Protection Alliance
(ICSPA), which can be found here revealed that 69% of Canadian
businesses had experienced some type of attack within a 12-month
period. Twenty-six percent of those affected reported
"considerable" impact on their businesses in terms of
financial and reputational damage.
As has been stated by Mike Rogers (US Intelligence Committee
Chairman): "There are two kinds of companies. Those that have
been hacked and those that have been hacked but don't know it
Steps are now being taken by regulators and businesses to bring
awareness to these issues:
In 2014, the Securities Exchange Commission (SEC) held a
roundtable discussion on the topic of cybersecurity, where it was
noted according to speaker Mary Jo White that cyber threats are
first on the division of intelligence's list of global threats,
even surpassing terrorism. A copy of Ms. White's statement
opening the roundtable is found here.
In 2015, the SEC identified "the cybersecurity of
registered investment companies and registered investment advisers
as an important issue" and provided updated guidance in
reducing cybersecurity risks. The SEC's interim guidance
can be found here.
In April 2015, the Cybersecurity Unit (Computer Crime &
Intellectual Property Section Criminal Division) of the U.S.
Department of Justice, published "Best Practices for Victim
Response and Reporting of Cyber Incidents", which can be found here.
The Canadian oil and gas industry, perhaps more than other
industries, is also vulnerable to cyber threats and attack.
The industry has acknowledged this: in January 2015 the Cyber
Security for Oil and Gas Summit Canada was held in Calgary. A
review of the agenda for that summit (found
here) reflects a focus on critical technical
matters as part of the management of the risk of cyberattacks.
BLG has also responded to new cybersecurity and cyberlitigation
issues. In our view, businesses need to develop
programs to increase cybersecurity measures and mitigate risk of
breach, but must also be prepared to respond to attacks and
remediate the effect of those attacks. All of these aspects
of cybersecurity and cyberlitigation give rise to complex legal
A copy of our brochure highlighting our cybersecurity and
cyberlitigation practice is
Canada is a constitutional monarchy, a parliamentary democracy and a federation comprised of ten provinces and three territories. Canada's judiciary is independent of the legislative and executive branches of Government.
The Government of Alberta recently announced a number of policy changes that will impact the Alberta Electricity Market, composed of its generators, transmitters, distributors, retailers, electricity consumers and wholesale electricity market.
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