The pandemic made the worldwide progress in digital transformation faster and it has become a focus. Breakthroughs in technology like Artificial intelligence, blockchain, internet of things and virtual reality, etc. are as well reshaping our future. Meanwhile, new economics and technologies bring challenges to security, privacy and ethics. The Network Security Director of KPMG said that hackers can always invade the systems and businesses have no options but to accept this reality. The key is to cut down the duration of the invasion and time needed to detect hacking activities. For SPACs and their sponsors, although their cybersecurity risks are lower, they have to actively identify, analyze and manage these risks in de-SPAC processes.
SEC’s new rules on cybersecurity disclosure
The U.S. Securities and Exchange Commission (SEC) adopted an amendment which aimed to strengthen and standardize information disclosure rules related to cybersecurity on July 26, 2023 (opens a new window). The amendment requires public companies to timely disclose information using Form 8-K, if major cybersecurity incidents happen. And they must disclose the company’s specific information related to…
