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Home » How New SEC Rules on Incident Transparency Impact Cybersecurity Teams
Cybersecurity Minute

How New SEC Rules on Incident Transparency Impact Cybersecurity Teams

Chris HughesBy Chris HughesAugust 24, 2023Updated:August 24, 20231 Min Read
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Acceleration Economy Cybersecurity

In episode 108 of the Cybersecurity Minute, Chris Hughes discusses some new rules regarding cybersecurity from the Securities and Exchange Commission (SEC).

This episode is sponsored by “Selling to the New Executive Buying Committee,” an Acceleration Economy Course designed to help vendors, partners, and buyers understand the shifting sands of how mid-market and enterprise CXOs are making purchase decisions to modernize technology.

Highlights

00:26 — These rules haven’t taken effect yet, but they will in the coming months.

01:21 — One is around the transparency of cybersecurity incidents. Organizations will have four days to report incidents on Form 8-K. Practitioners point out that there’s often a dwell time that can impact reporting timelines. Also, there are likely to be cases where an incident may have been identified but its full scope has not been determined. Nonetheless, this report must be made within four days of identifying and deeming a cybersecurity incident material.

Insights into Why & How to Recover from a Cybersecurity Breach
Guidebook: Cybersecurity Breach and Recovery Response

02:51 — There’s another SEC requirement around identifying, assessing, and managing material risks related to cybersecurity threats. It requires organizations to disclose to the board of directors and their management details of oversight of risk related to cybersecurity threats. It didn’t go quite as far as some in cybersecurity had originally hoped.

03:24 — It is calling for organizations to at least disclose that they have processes, policies, and procedures in place to understand cybersecurity threats and what role management has in overseeing them.


for more cybersecurity insights, visit the cybersecurity channel

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Analystuser

Chris Hughes

CEO and Co-Founder
Aquia

Areas of Expertise
  • Cloud
  • Cybersecurity
  • LinkedIn

Chris Hughes is a Cloud Wars Analyst focusing on the critical intersection of cloud technology and cybersecurity. As co-founder and CEO of Aquia, Chris draws on nearly 20 years of IT and cybersecurity experience across both public and private sectors, including service with the U.S. Air Force and leadership roles within FedRAMP. In addition to his work in the field, Chris is an adjunct professor in cybersecurity and actively contributes to industry groups like the Cloud Security Alliance. His expertise and certifications in cloud security for AWS and Azure help organizations navigate secure cloud migrations and transformations.

  Contact Chris Hughes ...

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