An important read for those organizations, their boards and security professionals working in or with SEC registrants.

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An important read for those organizations, their boards and security professionals working in or with SEC registrants. The SEC Director of enforcement Gurbir S. Grewal speaks at an FT Cyber Resilience Summit about the paradigm shift from cybersecurity to cyber resilience. With the need for SEC registrants to address the ‘when’ not ‘if’ of a cybersecurity incident, the focus on investor protection, management of cybersecurity risk and regulatory disclosure.

Mr Grewal discusses 5 principles that encompass the SECs approach to the oversight, assurance and attestation of cybersecurity risk management and resilience.
1. Protecting the investing public is a primary focus.
2. Investors receive timely and accurate required disclosures.
3. Registrants to regularly review and update all relevant cybersecurity policies to keep up with constantly evolving threats.
4. In the event of a cyber incident, the right information must be reported up the chain to those making disclosure decisions.
5. There is zero tolerance for ‘gamesmanship’ around the disclosure decision.

These principles align to the SEC cyber risk management proposal. One suspects the ground is being laid for the final ruling.

Ted Dziekanowski Rachel V. Rose, JD, MBA Stephen Pitt-Walker, JD, FGIA

#cybersecurity #cyberriskmanagement #securitiesandexchangecommission #cyberregulation

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