News & Analysis as of September 18, 2024

Cybersecurity

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

The Justice Insiders Podcast: Meet the Securities and Exchange (and Human Resources) Commission

The SEC’s Regulation of Cybersecurity Continues

BakerHostetler on 6/25/2024

The Securities and Exchange Commission entered into a resolution agreement with R.R. Donnelley & Sons (RRD) on June 18, 2024 with RRD agreeing to pay $2.125 million to resolve disclosure and control violations alleged by the...more

Don’t Forget to Put SEC Cybersecurity Matters on Your Board Agenda This Fall!

Blank Rome LLP on 11/9/2023

The U.S. Securities and Exchange Commission (“SEC”) earlier this year adopted rules requiring public companies to provide enhanced disclosure of material cybersecurity incidents, as well as cybersecurity risk management,...more

A New Frontier for SEC Cybersecurity Enforcement? The SEC Charges SolarWinds and its CISO with Securities Fraud

Morrison & Foerster LLP on 11/6/2023

Earlier this week, the SEC accused SolarWinds Corporation (“SolarWinds” or the “Company”) and its Chief Information Security Officer (“CISO”) of committing scienter-based securities fraud, among other violations, for...more

SEC Brings Landmark Cybersecurity Disclosure Lawsuit Against Solarwinds and Its CISO

BCLP on 11/2/2023

On October 30, 2023, the SEC filed charges against SolarWinds Corp. and its chief information security officer (CISO), alleging: ..Failures to disclose known cybersecurity vulnerabilities affecting the company’s “crown...more

Broker Dealer Regulatory Digest - November 2023

Davis Wright Tremaine LLP on 10/30/2023

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

SEC Heightens Issuers' Cybersecurity Disclosure Requirements

Husch Blackwell LLP on 8/16/2023

On July 26, 2023, the U.S. Securities and Exchange Commission (SEC) adopted final rules regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies. The final rules require...more

SEC adopts new rules to expand public company disclosure relating to cybersecurity by year end

Eversheds Sutherland (US) LLP on 8/2/2023

On July 26, 2023, the US Securities and Exchange Commission (SEC) released final rules requiring disclosure by public companies of material cybersecurity incidents and policies and procedures related to cybersecurity risk...more

Blackbaud Shows SEC Is Serious On Cyber Incident Reporting

Bradley Arant Boult Cummings LLP on 3/28/2023

A recent significant enforcement action brought by the U.S. Securities and Exchange Commission against Blackbaud Inc. highlights the importance of public companies maintaining disclosure controls and procedures relating to...more

SEC Updates for the Upcoming 2022 Annual Reports on Form 10-K and Form 20-F

Seward & Kissel LLP on 2/7/2023

The U.S. Securities and Exchange Commission (the “SEC”) has adopted amendments and updated disclosure requirements that are to be included in a reporting company’s annual report on Form 10-K or 20-F. The SEC has also proposed...more

SEC Proposes Sweeping New Cybersecurity Disclosure Rules for Public Companies

Alston & Bird on 3/16/2022

Our Securities, Securities Litigation, and Privacy, Cyber & Data Strategy teams highlight the key aspects of the Securities and Exchange Commission’s latest sweeping changes to its cybersecurity reporting rules for public...more

SEC Issues First-Ever Penalties for Deficient Cybersecurity Risk Controls

Holland & Knight LLP on 6/23/2021

The U.S. Securities and Exchange Commission (SEC) has launched a stunning salvo across the bows of public companies with its announcement of civil monetary penalties and a cease-and-desist order against First American...more

Investment Management Regulation: Year in Review

Kilpatrick on 1/3/2019

As we prepare for a new year of regulatory initiates and actions, we believe it is important to take inventory of the most significant regulatory events from the past year. True to its word, the SEC focused on reducing...more

Cyberfraud Victims May Have Violated SEC Internal Control Requirements: Adding Insult to Injury

Parker Poe Adams & Bernstein LLP on 11/9/2018

Just when you thought the hazards of cyberfraud couldn’t get worse, the SEC recently issued a Report of Investigation (more on that later) stating that nine recent corporate victims of cyberfraud may have compounded their...more

SEC Cautions That Cyber-Related Fraud Could Evidence Failed Internal Accounting Controls

Brownstein Hyatt Farber Schreck on 10/30/2018

On Oct. 16, 2018, the Securities and Exchange Commission (the “SEC”) released a cautionary report discussing whether certain public companies that had become victims of cyber-related fraud may have violated federal securities...more

Law Firm Data Breaches Demonstrate the Expanding Scope of Cyber Attacks

Cadwalader, Wickersham & Taft LLP on 1/17/2017

In a case of “cyber meets securities fraud,” the United States Attorney’s Office for the Southern District of New York (“SDNY”) recently indicted three foreign nationals on charges of insider trading, wire fraud, and computer...more

Cybersecurity Still Top FINRA Operational Risk

Carlton Fields on 1/13/2017

On January 4, the Financial Industry Regulatory Authority (FINRA) published its annual Regulatory and Examination Priorities Letter providing firms with information about areas FINRA plans to review in 2017 as well as...more

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Securities Exchange Act › Risk Management › Cybersecurity

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