Morgan Stanley Smith Barney (MSSB), now Morgan Stanley Wealth Management has been fined $35Mn by the SEC for its failure to protect its clients PII, that goes as far back as 2015. MSSB failed to properly dispose of devices containing…
U.S Federal government has had risk management in place for 20 years with FISMA, a risk based framework for the management of cybersecurity (information). FISMA unfortunately has had a patchy implementation with a poor record of compliance across Federal government.…
The SEC appears to have taken a dim view of VMware breaking financial reporting rules and moving revenues between quarters. By what appears to be controlling the timing of its revenue recognition by placing discretionary holds on selected sales orders.…
A nice article from the HBR and the difference between data regulation, such as GDPR and proposed cyber regulation. Cyber regulations are coming, and organisation will face challenges with identifying and complying with the regulations being proposed. In the U.S…
Thanks for posting Ted Dziekanowski It seems that some U.S and EU regulators are taking a leaf out of the SEC book. Setting regulatory regimes that place the responsibility on boards to implement, assure and attest cybersecurity risk management compliance.…
A nice post. Cybersecurity is a complex problem, one that many governments and organisations have failed to address in a timely manner. The challenge is not solely the focus on the threat, its the erosion of corporate and social value…
The SEC proposal for cybersecurity risk management, governance, strategy and incident disclosure is getting air time and column inches. What surprises me is the conversations about the timeliness of incident disclosure and content shared with investors, which is important. But…
The SEC continues to implement its regulatory agenda. Proposing rules to improve governance of clearing houses. The proposal aims to establish new governance requirements on board composition, independent directors, nominating committees, and risk management committees. The proposed rule would also…
The UK Financial Reporting Council, the body that regulates UK auditors, accounts and actuaries raises concerns that UK firms are not taking digital security seriously enough. ‘There was general consensus that current disclosures are not sufficient to meet investor and…
For those familiar with NYDFS cyber regulations then enclosed is an important proposed update to the current regulations that impact NYDFS covered entities. It significantly update current cyber regulations for Financial Institutions and aligns it closely with other cyber regulatory…
