Administrative/Regulatory,
Corporate
Sep. 18, 2023
The SEC’s cyber rules present a challenge and an opportunity for in-house counsel
Final rules issued by the agency are a clarion call to action on the importance of advising business units on the necessity and importance of training employees, reviewing vendor contracts, securing networks, and having a clear cyber response plan.
On the surface, the Security and Exchange Commission's latest cyber rules appear to be an organic outgrowth of existing compliance and reporting requirements. The rules, for example, announced new Item 106 of Regulation S-K that requires public companies to describe their processes for assessing, identifying and managing material risk from cybersecurity threats. This is a streamlining of a process public companies already undertake: the disclosure of cybersecurity bre...
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