We are fast approaching Module 2 of our Cybersecurity risk management program for U.S Attorneys.

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We are fast approaching Module 2 of our Cybersecurity risk management program for U.S Attorneys. As we present U.S and EU regulatory highlights and compliance considerations on the 11th May.

The U.S president has signed several cyber and supply chain security Executive Orders and regulators have implemented cybersecurity regulations such as the Federal Information Security Modernization Act (FISMA); the New York Department of Financial Services (23 NYCRR 500); the Food and Drug Administration (medical device cybersecurity – 2023); the Securities and Exchange Commission (SEC) has made proposals to regulated cybersecurity risk for public companies, broker dealers, clearing agencies, major security-based swap participants, Cyber amendments to ‘Systems Compliance and Integrity (€œSCI€) and the Privacy of Consumer Financial Information (Regulation S-P). The DoD implemented DFARS ‘252.204-7012’ in 2017, ‘-7019’ and ‘-7020’ in 2020 and is moving towards ‘-7021’, the CMMC clause that requires global defense contractors to comply to cybersecurity standards. The White House Office of the National Cyber Director published the long anticipated national cyber strategy, that is expected to drive further cyber regulation.

The EU is following a track of cyber regulation, releasing EU NIS 2 and the Digital Operational Resilience Act (DORA) to the EU Journal. The EU Commission is working the Cyber Resilience Act (CRA) and adopted the Cyber Solidarity Act (CSA).

All this cyber regulation and regulatory transformation serves to transfer cybersecurity risk management ‘Left of Bang’ to the board room and financial statements of covered entities. In many cases directly increasing the legal risk exposure of board members and corporate compliance risks and costs.

I am looking forward to discussing these changes with my Rachel V. Rose, JD, MBA and Ted Dziekanowski and considerations for regulatory compliance. Addressing the challenges that cybersecurity risk management presents over and above that of cybersecurity compliance, and the adoption of appropriate governance, risk management and cybersecurity frameworks and standards.

#cybersecurity #cyberriskmanagement #cyberlaw #governance #legalrisk #compliancerisk

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