Call us now:
A very important read and a significant development for cybersecurity from the Securities and Exchange commission (SEC). (https://lnkd.in/e_Ayt8VY)
SEC Chair Gary Gensler, Today, cybersecurity is an emerging risk with which public issuers increasingly must contend. Investors want to know more about how issuers are managing those growing risks. A lot of issuers already provide cybersecurity disclosure to investors. I think companies and investors alike would benefit if this information were required in a consistent, comparable, and decision-useful manner. I am pleased to support this proposal because, if adopted, it would strengthen investors ability to evaluate public companies’ cybersecurity practices and incident reporting.
The SEC has proposed amendments to its rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies.
This is a significant move for cybersecurity. It will require among other things.
1. Reporting about material cybersecurity incidents and periodic reporting to provide updates about previously reported cybersecurity incidents.
2. Periodic reporting about a registrants policies and procedures to identify and manage cybersecurity risks; the registrants board of directors’ oversight of cybersecurity risk; and managements role and expertise in assessing and managing cybersecurity risk and implementing cybersecurity policies and procedures.
3. The proposal further would require annual reporting or certain proxy disclosure about the board of directors cybersecurity expertise.
The proposal is significant if formally enacted, with minor modification. Passed under the Securities and Exchange Act 1934.
Ted Dziekanowski Jason Spezzano Brian McCarthy
View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6907361412629585921