News & Analysis as of May 5, 2025

Cybersecurity › Materiality

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

False Claims Act: 2024 Year in Review

Bradley Arant Boult Cummings LLP on 2/5/2025

Bradley’s Government Enforcement and Investigations Practice Group is pleased to present the False Claims Act: 2024 Year in Review, our annual review of significant False Claims Act (FCA) cases, developments and trends. ...more

2024 SEC Cybersecurity Rule Updates

BakerHostetler on 1/7/2025

The first year of a new significant regulatory obligation is often more notable for the absence of regulatory enforcement actions as regulators often observe compliance efforts and challenges, offer guidance, and look for...more

6 Considerations to Determine if a Cyber Incident Is Material

Troutman Pepper Locke on 12/2/2024

In late June, the staff of the U.S. Securities and Exchange Commission’s Division of Corporation Finance released five new compliance and disclosure interpretations regarding the disclosure of material cybersecurity incidents...more

Recent Developments for Directors - November 2024

Latham & Watkins LLP on 11/13/2024

SEC Penalizes Director for Misleading D&O Questionnaire Response - The SEC recently brought an enforcement action against a director for causing violations of the proxy rules by failing to disclose a close personal...more

SEC Enforcement Heats up on Key Public Company Topics: Cyber Disclosure, Director Independence and Regulation FD

White & Case LLP on 11/11/2024

The U.S. Securities and Exchange Commission's ("SEC") Division of Enforcement has recently brought a spate of enforcement actions relating to key topics for public companies. These include enforcement actions related to...more

Court in SolarWinds Case Blows Down SEC's Cyber Enforcement Authority

Holland & Knight LLP on 7/24/2024

The U.S. District Court for the Southern District of New York on July 18, 2024, dismissed most of the SEC's landmark cyber enforcement litigation against SolarWinds Corp. (SolarWinds or the Company) and the Company's Chief...more

SEC Cyber Enforcement Update: Which Way Are the SolarWinds Blowing?

Holland & Knight LLP on 7/8/2024

The SEC has been aggressively pursuing cybersecurity investigations and enforcement actions against public companies and foreign private issuers. In these actions, the SEC often alleges one of two theories: 1) that the...more

SEC Releases New 8-K CDIs for Item 1.05 - Cybersecurity Incidents

Fenwick & West LLP on 6/25/2024

On June 24, 2024, the SEC released five new CDIs on Material Cybersecurity Incidents. Please see a high-level summary below...more

SEC Continues to Zero in on Importance of Data Security Measures and Reporting With Latest $10 Million Penalty

Parker Poe Adams & Bernstein LLP on 6/21/2024

Last month, the Securities and Exchange Commission (SEC) reemphasized just how serious companies must be about maintaining a vigilant cybersecurity posture and procedures to report cyber incidents in a timely manner....more

SEC Staff Makes Clear That Cybersecurity Incident Disclosures Under Item 1.05 of Form 8-K Should Be Limited to Material...

Goodwin on 5/30/2024

On May 21, 2024, Erik Gerding, director of the Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC), issued a statement with clarifying guidance on cybersecurity incident disclosure under Item...more

SEC Corporation Finance Director Voluntarily Weighs in on Cybersecurity Incident Disclosures

Holland & Knight LLP on 5/23/2024

The U.S. Securities and Exchange Commission's (SEC) Division of Corporation Finance Director Erik Gerding released a statement on May 21, 2024, addressing Disclosure of Cybersecurity Incidents Determined to be Material and...more

SEC Staff Clarifies Form 8-K Item 1.05 is for Cybersecurity Incidents that are Determined to be Material

WilmerHale on 5/23/2024

On May 21, 2024, Erik Gerding, Director of the SEC’s Division of Corporation Finance, issued a statement regarding the disclosure of cybersecurity incidents on Form 8-K. In his statement, Director Gerding encourages companies...more

Addressing the SEC’s New Cybersecurity Risk Management, Strategy, Governance and Incident Disclosure Requirements

BakerHostetler on 10/27/2023

In July 2023, the SEC adopted new cybersecurity rules for the stated purpose of enhancing and standardizing disclosures regarding cybersecurity risk management, strategy, governance and incidents by public companies. The...more

Next Steps for Companies Ahead of December Deadline for SEC Cybersecurity Disclosures

Parker Poe Adams & Bernstein LLP on 9/29/2023

In less than three months, public companies and certain foreign private companies will have to take additional steps after cybersecurity breaches: deciding whether an incident meets the materiality threshold that requires...more

SEC Cybersecurity Reporting Requirements for Public Companies: Applying Old Standards to New Risks

Bracewell LLP on 8/29/2023

On July 26, 2023, the Securities and Exchange Commission (“SEC”) issued a final rule that requires registrants to provide enhanced and standardized disclosures regarding “cybersecurity risk management, strategy, governance...more

China Enhances Scrutiny for Cross-Border Data Transfer that would Impact Multinational Companies

Paul Hastings LLP on 7/20/2022

1. Introduction- China’s cross-border data transfer rules are unfolding in real time and taking clearer shape. On July 7, 2022, China’s cybersecurity regulatory agency, the Cyberspace Administration of China (“CAC”), issued...more

False Claims Act - 2021 Year in Review

Bradley Arant Boult Cummings LLP on 2/3/2022

The year 2021 marks the 10th anniversary of the Bradley False Claims Act Year in Review. In that decade, much has remained the same in FCA enforcement. To start with the obvious: It continues to result in billions of dollars...more

SEC Increasingly Turns Focus Toward Strength of Cyber Risk Disclosures

Mayer Brown Free Writings + Perspectives on 7/1/2021

On June 11, 2021, the US Securities and Exchange Commission (“SEC” or “Commission”) announced that it would focus on cybersecurity disclosures made by public companies as part of its regulatory agenda. Given the SEC’s...more

FCA Enforcement Priorities in the Biden Administration

WilmerHale on 3/31/2021

During a question-and-answer session following his opening remarks at the Federal Bar Association Qui Tam Conference earlier this year, Senator Chuck Grassley said that the government needed to “come down with a sledgehammer,...more

White Collar Year in Preview: False Claims Act Trends in 2020

Foley Hoag LLP - White Collar Law &... on 1/16/2020

Editors’ Note: This is the fourth in our start-of-year series examining important trends in white collar law and investigations in the coming year. Our previous entry discussed anti-corruption trends in 2020. Up next: a look...more

California District Court Issues First False Claims Act Decision Involving the DFARS Cybersecurity Rule

Miles & Stockbridge P.C. on 5/30/2019

As predicted, a recent decision from the Federal District Court for the Eastern District of California is the first sign of a new, and potentially enormous wave, of Civil False Claims Act, 31 U.S.C. §§ 3729-33 (“FCA”) actions...more

K&L Gates Triage: Triage in 2019: Health Care Topics to Watch in the New Year

K&L Gates LLP on 1/31/2019

As K&L Gates begins its third season of Triage: Rapid Legal Lessons for Busy Health Care Professionals, Hilary Bowman previews several topics that the health care practice group anticipates will have a significant impact on...more

SEC Provides New Far-Ranging Cybersecurity Guidance

Mintz on 3/2/2018

The Securities and Exchange Commission (“SEC”) released expansive interpretive guidance (“2018 Guidance”), posted February 21, 2018, further building upon its far-reaching cybersecurity guidance provided in 2011. Below are...more

Revised SEC Guidance Concerning Disclosure of Cybersecurity Risks and Cyber Incidents

Akin Gump Strauss Hauer & Feld LLP on 3/1/2018

• Disclosures must inform investors about material cybersecurity risks and incidents, including addressing material cybersecurity risks for cyber-attacks that have not yet occurred. • Comprehensive policies and procedures...more

K&L Gates Triage: Triage in 2018: Health Care Topics to Watch in the New Year

K&L Gates LLP on 2/28/2018

We expect 2018 to be another year of rapid change within the health care industry. In this episode, Mary Beth Johnston highlights some of the key topics that the health care practice group will monitor in the coming year,...more

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Cybersecurity › Materiality

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