For those focused on the SEC final rule, spare a thought for those European (and US) firms covered by EU NIS 2. That along with DORA were added to the EU Journal in January 2023, to be transposed by EU…
Caesars entertainment filed an 8-K following disclosure of a cyber incident, that came to light publicly during the MGM resorts hack. Confirming that it was compromised following a social engineering attack on an IT support vendor. Resulting in a data…
One finds the article interesting (I can’t find the report mentioned) by the UK NCSC, that is responsible for advising on UK cyber strategy. One would say that cybersecurity in the UK is not so much lax when it comes…
The MGM cyber attack highlights the impact of cyber on customers and shareholders and surfaced a cyber attack on one of MGMs competitors on the Las Vegas Stripe, Caesars entertainment. It also highlights the changing sentiments of market participants such…
It is difficult to point any fingers in both the MGM and Caesars hacks. Hacks that if proven correct originated from a social engineering and third party suppliers. Hacks that crippled a $15bn revenue organisation and may have cost another…
A concise SEC Form 8-K filing by MGM Resorts international (NYSE: MGM) relating to its recent public cyber attack. While it is only speculation, one wonders what the filling would look like from December 2023. The attack may not create…
The insurance market is slowly waking to the effects of cyber regulation on D&O and cyber products. The SEC final is the first cyber regulation with global and industry agnostic effect. One suspects as insurers come to terms with cyber…
The SEC final rule is effective 5th September 2023, with compliance starting for registrants in December 2023. While we have articulated definitions for ‘materiality’ and the ‘reasonable investor’, there is no formal definition for ‘adequacy’ or what ‘adequate compliance’ to…
The U.S ONCD national cyber strategy looks to address international cybersecuirty cooperation, that the state department will take forward. Balancing the need for technology and the need for the public and private sector to have a clear understanding of the…
Thank you for sharing Ted Dziekanowski. Defining materiality as seen by a reasonable shareholder will be an important definition for SEC covered registrants. As the final rule documents, the basis for defining material should be consistent with that set out…
