In a Halloween-eve move sure to send shivers down the spines of every public company’s CISO, on Oct. 30, the SEC filed a securities fraud complaint targeting SolarWinds’ CISO in the wake of their major December 2020 data security incident. The SEC alleges SolarWinds and its CISO committed securities fraud in connection with multiple public
On July 26, 2023, the Securities and Exchange Commission (SEC) adopted the long-awaited final rule requiring that public companies disclose information about cybersecurity incidents within four business days of determining the incident is material. GT wrote about the proposed rule shortly after it was released in March 2022. For context, Commissioner Caroline Crenshaw noted, in
Continuing its focus on cybersecurity, on March 9, 2022, in a party-line vote, the SEC proposed rules and amendments governing cybersecurity reporting requirements for public companies subject to the Securities Exchange Act of 1934.
On Feb. 9, 2022, the SEC released its long-awaited proposed cybersecurity rule, and there’s a lot to unpack. As GT reported previously, the SEC increased enforcement of cybersecurity compliance in 2021. As recently as Jan. 24, 2022, Chair Gary Gensler made cybersecurity the focus of his speech at Northwestern Law School’s Securities Regulation
The past 12 months have seen an increase in cybersecurity attacks against major companies, placing data breaches on the front page of virtually every major newspaper. The U.S. government has taken notice. In May, the Biden administration issued an executive order requiring government agencies and certain government contractors to comply with cybersecurity requirements. In July,