An average of 1,258 cybersecurity attacks occur weekly
across global organizations. Enterprises invest over 11% of their annual IT budget in
cybersecurity to safeguard customer and organizational assets
against potential breaches. The ramifications of a cyber breach
have proven to stifle an organization’s business operations.
Many organizations maintain a robust incident response
(“IR”) playbook. Yet, a tremendous strain can be placed
on organizations to resume normal operations that affects long-term
financial performance, contractual obligations, and other legal and
regulatory considerations.
Cybersecurity is a fundamental enabler in achieving corporate
strategic objectives and is at the forefront of investors’
concerns with the persistence of reported cyber-attacks. The
Securities and Exchange Commission (“SEC”) adopted new cybersecurity disclosure rules on July 26,
2023 that standardized how registrants report on their
cybersecurity programs and the timing and content of disclosures
regarding material breaches.
SEC cybersecurity disclosure rules overview
These new rules call for increased transparency of
registrants’ cybersecurity programs. Ahead of…
