Zimbabwe has a relatively well-developed digital economy with nine financial institutions listed on the Zimbabwe Stock Exchange (ZSE). With the introduction of the Cyber Security and the Data Protection bill and the act that is now law. It is now duty of the Zimbabwe Securities Exchange Commission (SEC) to protect the investors and the shareholders from possible cyber attacks and cyber crimes.In the USA in March 2022, their Securities and Exchange Commission (SEC) proposed a set of rules and amendments that will bolster the financial sector’s defence against cyberattacks. Zimbabwe does not have laws that require listed companies to report, disclose and publish any cybersecurity incidents at their institutions.
The aim to disclose cybersecurity incidents helps to improve visibility into institution’s cybersecurity risk management and governance policies to better inform investors and potential investors.
In the USA , the March 2022 proposal, covers cybersecurity incident disclosure and would amend Form 8-K that require listed companies to notify investors, shareholders and the USA SEC when an unscheduled material event…
