While 98% of security professionals and executives have started working to comply with the new U.S. Securities and Exchange Commission (SEC) cybersecurity disclosure ruling, over one-third are still in the early phases of their efforts, according to AuditBoard.
81% of respondents say the new SEC cybersecurity disclosure ruling will substantially impact their business. 54% of those, however, report being highly confident in their organization’s ability to comply with the disclosure ruling.
Companies prepare for SEC cybersecurity rules implementation
The SEC’s new cybersecurity rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure took effect on Dec. 15, 2023. These new rules mandate that publicly traded companies disclose significant cybersecurity incidents in a timely manner, along with the measures taken to address these threats. Since the final rules were announced in July 2023, companies have prepared to meet the new requirements.
Overall, 68% say the new SEC cybersecurity disclosure overwhelms them. Today, only 2% of survey respondents have yet to start the process to comply with the new ruling. However, one-third of respondents…
