Call us now:
How lucky do you feel’, a great summary from Gurbir Grewal to leaders of the Securities Bar. Discussing the benefits of cooperating with SEC investigations.
The SEC offers up five principles of effective cooperation. All obvious stuff yet one expects many firms focused on cybersecurity risk management compliance c tempted to turn a blind eye ‘as it won’t happen to me’.
1. Cooperation starts early, before the SEC gets involved.
2. Self report once you discover a violation.
3. Remediate the breach.
4. Go above and beyond what’s legally required.
5. Collaborate with Enforcement staff early, often, and substantively
Rachel V. Rose, JD, MBA one raises this as cybersecurity risk management oversight by the SEC starts to take shape, and regulatory compliance becomes a legal conversation. The convergence of regulatory reporting, cyber breaches, whistleblower actions and detailed disclosures (SEC vs. SolarWinds) makes cybersecurity risks a difficult risk to ignore.
Ignorance of what is hidden under the carpet may not be a defense. When threat actors highlight corporate cyber issues with more information and knowledge than you have.
@Thaddeus Dziekanowski Brian D. McCarthy
Veritas GRC U.S. Securities and Exchange Commission
#cybersecurity #cyberriskmanagement #cyberregulation
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