For any organization considering the Securities and Exchange Commissions(SEC) Proposal for Cybersecurity Risk management, that maybe released in H1€¦

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For any organization considering the Securities and Exchange Commissions(SEC) Proposal for Cybersecurity Risk management, that maybe released in H1 2023. The enclosed audit by the SEC Office of the Inspector General of the SECs 2022 compliance to FISMA 2014 is worth a read.

FISMA is a regulation that applies to all Federal Agencies, it requires the SEC to implement the NIST Risk Management Framework (RMF) and apply a cybersecurity framework to mitigate cyber risks. The report highlights the strengths and weaknesses with the SECs implementation of cybersecurity across the 9 security domains and 5 levels of maturity between 2021 and 2022.

Demonstrating that cybersecurity risk management compliance is not easy and the SEC is aware of the challenges that organizations face with maintaining cybersecurity risk management oversight, assurance and regulatory compliance. Through its own compliance requirements.

While the SEC cybersecurity risk management proposal does not define the approach for compliance, it does require organizations to adopt a Cybersecurity Risk Management Framework. The FISMA RMF is NIST SP 800-37.

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

#cybersecurity #cyberriskmanagement #securitiesandexchangecommission #cybercompliance #governance

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