Thank you Kovrr for mentioning Ted Dziekanowski, Rachel V. Rose, JD, MBA and myself and our work on the material, adequate and reasonable development of compliance to the SEC Final Cyber rule earlier this year. Brian D. McCarthy #cybersecurity #cyberriskmanagement…
For the Securities and Exchange Commission(SEC) 2023 has been a busy year, pushing through controversial legislation least of all for cybersecurity. It has also been a profitable year as the SEC enforcement division. The SEC obtained orders for nearly $5…
An interesting article on what CISOs should report about an incident. Here is my take, as someone who has been a counsel appointed cyber expert and witness and an executive that has led regulatory reporting of cyber incidents. The first…
Ted Dziekanowski it’s Halloween and reading the indictment against SolarWinds, it maybe time to bring out the dead. The quote of the day has to be, related to vulnerabilities identified in the Orion Platform, Even if we started to hire…
This is a very serious development for the cybersecurity community and one to watch. As the SEC charges SolarWinds and its CISO with defraud investors and internal control failures relating to the 2020 hack. The SEC alleges that the company…
It’s not cyber, but the SEC issued The Boeing Company with an order to pay a civil penalty of £200million under section 308 of the Sarbanes Oxley Act of 2002. By failing to exercise reasonable care in making statements to…
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…
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…
What next for the SEC, as some see its regulatory agenda as progress and other as restricting profits and growth? The SEC has proposed and adopted more regulation in the 850 days under Chair Gensler, since the 2009 financial crisis.…
The SEC final cyber rules effects Foreign Private Issuers (FPIs). As the SEC discusses in the rule, EU and Canadian FPIs are required to disclose material changes. In the enclosed article, pointing out that the ‘Toronto Stock Exchange requires a…
