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…
It maybe coincidence but MGM international saw it’s share price change from a high of $44.47 to close at $42.70 in trading yesterday. Not a massive drop, but it lost ground. MGM is going through a difficult situation, managing a…
The Australian government has increased the number of CNI organizations subject to cyber regulation from 87 to 168, that is a significant increase. (The list was not public at time of writing this). ‘Under the new obligations, designated organizations have…
Thank you for posting Olaf Classen. The irony is in the name of the hacking group USDoD, maybe not the data that was stollen outlined in the article. With U.S DoD updating its CMMC compliance requirements and pending changes to…
