The SEC is upping the anti on cybersecurity disclosures.

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The SEC is upping the anti on cybersecurity disclosures. Announcing settlements against eight investment advisory firms and broker-dealers, related to alleged failures in their cybersecurity procedures. The recent request from the SEC to those companies impact by SolarWinds to identify cyber incidents back to 2019, the SECs 2021 regulatory calendar (https://lnkd.in/dmQCTXPu) which includes Cybersecurity Risk Governance and to top it off ESG regulation is due imminently.

I proofer that more cybersecurity regulatory reporting is on the way for publicly traded firms and public defence contractors maybe hit twice. From the DoDs CMMC requirements and the SECs requirements to report material risks. The saving grace is that one will support the other, by implementing cybersecurity as required under DFARS, with appropriate Governance mechanisms under ESG reporting, it may support compliance. Although a note of caution, the rise in SEC enforcement actions and SECs SolarWinds request maybe setting an enforcement precedent.

Ted Dziekanowski Brian McCarthy Jason Spezzano

#theaugustagroup‚ #theaugustaplan‚ #cybersecurity‚ #supplychainriskmanagement‚ #cyberriskmanagement‚ #compliance‚ #cyberinsurance‚ #insurance‚ #regulatorycompliance‚ #regulatoryoversight‚ #esgrisk‚ #cyberregulation‚ #esgreporting‚ #soc2‚ #defenceindustry‚ #esg‚ #defence

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