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An important vote on the SECs proposal to regulate public firms that access U.S capital markets takes place today.
‘Will they, won’t they’ is the question.
With cyber attack frequency, complexity and severity of impact rising; with other nations regulating cyber that will effect U.S companies; with ONCD coordinating U.S cyber strategy; with corporate cyber maturity low; with cyber already considered a reportable material risk that is not being managed; with an insurance market unable to underwrite the risk effectively. The meeting will be closely watched and could be lively.
The decision will have a significant affect on Capital markets Ted Dziekanowski. It will send a clear message whichever way it goes. One hopes, given the failure of market forces to address cyber, the SEC takes a firm stance on corporate compliance of cyber; the effects of cyber on both national and economic security. The vote will be to regulate cyber for covered entities.
Bob Dix Rachel V. Rose, JD, MBA Stephen Pitt-Walker, JD, FGIA
#cybersecurity #cyberriskmanagement #securitiesandexchangecommission
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