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U.S and EU cyber regulation raises requirements for boards and management committees to manage risks on behalf of investors. Cyber regulation expects board to understand and manage material cyber risks and their fiduciary responsibility to act in the best interests of the company and its shareholders, that includes due diligence over a merger or acquisition. Due diligence that could be question in several instances when cyber has effected the M&A process, be that the Marriott Starwood deal, the Yahoo Verizon, or the Belgium Aerospace firm Asco acquired by Spirit AeroSystems.
Cyber due diligence is as important an evaluation as financial performance, covenants, sales and supplier attestations. As cyber effects all of the above. Now cyber regulations requires boards and management committees to attest cyber on behalf of a reasonable investor.
One suspects that investors will be adopting a much stronger approach to cybersecurity oversight and assurance, as U.S and EU cyber regulations come into force. That includes civil and criminal liabilities and possible effects on D&O and cyber insurance.
Ted Dziekanowski Brian D. McCarthy Bob Dix Rachel V. Rose, JD, MBA
#cybersecurity #cyberriskmanagement #cyberinsurnace #mergersandacqusitions #paravasecuritysolutions
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