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Cyber is a headache for Investor Relations. With boards increasingly concerned about cybersecurity and risk; with cyber regulation coming over the hill at speed, and with cyber threats increasing. Boards are under the spotlight to demonstrate their governance, oversight and assurance of cyber risk to investors and regulators.
Boards stand on a double edged cyber regulation sword. One that has ‘Left of Bang’ written on one edge and ‘Right of Bang’ written on the other. Cyber risk is being regulated requiring covered boards demonstrate proactive adequate management of cyber risk to regulators, capital markets and shareholders (Left of Bang). They must also demonstrate adequate management of cyber events (Right of bang).
Boards of organisations that sit in SEC, EU, or ASIC covered jurisdiction face increased regulatory scrutiny of cybersecurity risk management. Scrutiny that increases legal and compliance risk and the possibility of civil and criminal penalties. Creating headaches for boards as they are required to demonstrate the can meet their fiduciary responsibilities, secure their financial statements to investors and compliance to regulators and insurers.
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan
Veritas GRC
#cybersecurity @cyberriskmanagement
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