The SEC has imposed penalties on The Intercontinental Exchange, Inc. (ICE) and nine of its affiliates, including the New York Stock Exchange, for failing to promptly report a cyber intrusion under Regulation SCI. This enforcement action underscores the critical importance of timely cybersecurity reporting and regulatory compliance to maintain market integrity and investor confidence. Discover the key takeaways for investors navigating the evolving digital financial landscape.
The SEC’s 2023 cybersecurity rules mandate timely disclosure of material cyber incidents. This blog covers key compliance steps for companies, including how to manage reporting delays based on national security concerns, and offers legal insights for effective cybersecurity risk management.
In July 2023, the SEC adopted new rules requiring companies to disclose material cybersecurity incidents in their Form 8-K filings. The rules, including new Item 1.05, mandate reporting within four business days of determining the material impact of an incident. The SEC has also provided provisions allowing for delayed disclosures if the U.S. Attorney General determines that immediate disclosure could pose a risk to national security or public safety. This blog delves into the specifics of the new requirements, possible delays, and compliance guidelines for companies managing cybersecurity risks.
In July 2023, the SEC introduced new rules requiring companies to disclose material cybersecurity incidents on Form 8-K within four business days. These rules include provisions for reporting delays due to national security concerns, as well as recent Compliance and Disclosure Interpretations (C&DI) that provide clarity on the reporting timeline. The new regulations aim to enhance transparency while balancing the need for national security, ensuring companies are clear on their obligations when a cybersecurity incident occurs.
The SEC’s Fall 2023 regulatory agenda highlights the agency’s focus on climate disclosures, SPAC reform, and corporate governance. Key proposals include board diversity and EDGAR filing updates, while final rules on cybersecurity and digital engagement practices are expected soon.
In a recent survey by Interac, 42% of respondents reported being targeted by Government Impersonation Scams, highlighting their prevalence. These scams involve fraudsters posing as government representatives to deceive victims into giving personal information or money. Common scams include IRS/CRA scams, Social Security/Insurance scams, Medicare/Medicaid scams, and law enforcement scams. Understanding how scammers operate and recognizing warning signs are crucial for protection. Learn more about how to handle potential scams, protect your personal information, and what steps to take if you’ve been scammed.
With over 62% of Facebook users reporting encounters with scams weekly, it's clear that social media platforms are rife with fraudulent activities. From investment and crypto scams to romance scams and fake ads, understanding these common threats and knowing how to protect yourself is crucial. Learn how to identify red flags, such as unsolicited links and requests for money, and discover what steps to take if you fall victim to a scam. Stay vigilant and informed to safeguard your digital presence.
As companies transition to cloud-based environments, the differences in managing security policies between on-premises and cloud networks become increasingly apparent. The "democratization" of security in the cloud and offers crucial advice on governance, privilege management, and incident response. Discover how to adapt your cybersecurity strategies to keep ahead of threats in a decentralized cloud landscape.
