News & Analysis as of

Reporting Requirements Cyber Incident Reporting Risk Management

A&O Shearman

FSB publishes finalised format for FIRE framework

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The Financial Stability Board (FSB) has published its finalised Format for Incident Reporting Exchange (FIRE), together with a press release and updated webpage. FIRE provides a standardised format for financial institutions...more

Davis Wright Tremaine LLP

Regulatory Reset? U.S. Cyber Incident Reporting Rules Face Congressional Scrutiny

Lawmakers expressed bipartisan support for significantly amending or eliminating some cybersecurity incident notification requirements during a recent hearing of the U.S. House Committee on Homeland Security's Subcommittee on...more

Wilson Sonsini Goodrich & Rosati

Snapshot: The First Year of Cybersecurity Incident Filings on Form 8-K Since Adoption of New Rules

In July 2023, the U.S. Securities and Exchange Commission (SEC) adopted final rules requiring public companies to report material cybersecurity incidents under new Item 1.05 of Form 8-K beginning on December 18, 2023. Our...more

Vinson & Elkins LLP

Deadline to Comment on TSA Proposed Rule on Enhancing Cyber Risk Management for Surface Transportation Sectors

Vinson & Elkins LLP on

On November 7, 2024, the Transportation Security Administration (the “TSA”) published a Notice of Proposed Rulemaking (the “Proposed Rule”) that would mandate cyber risk management (“CRM”) and reporting requirements for...more

Ankura

NIS2: What It Means for Businesses in APAC

Ankura on

NIS2 (Network and Information Systems Directive 2) is the updated version of the NIS Directive, which the EU first introduced in 2016. The original NIS Directive aimed to enhance cybersecurity across member states by...more

A&O Shearman

Operational Incident Reporting: UK Financial Regulators Propose New Rules

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The Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England are consulting on proposals to require firms to report operational incidents and material third party arrangements. In the face...more

A&O Shearman

FORMS 10-K AND 20-F - Preparing for your Annual report

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This guide discusses important themes and trends for the coming annual reporting season. It also includes a “housekeeping checklist” designed to assist you as you prepare your annual report. ANNUAL CYBERSECURITY...more

Mayer Brown

Trends in US Cybersecurity Regulation

Mayer Brown on

As cybersecurity rules proliferate, companies must navigate a maze of new, and often overlapping, proactive and reactive cybersecurity requirements and guidance. This Legal Update surveys new cybersecurity rules and...more

Society of Corporate Compliance and Ethics...

The SEC’s cybersecurity and disclosure rules: The questions compliance pros still have

The U.S. Securities and Exchange Commission (SEC) Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure rules officially went into effect in December 2023. Aimed at improving cybersecurity risk...more

Cooley LLP

SEC Enforcement mini-sweep charges hypothetical risk factors and other misleading cyber disclosures

Cooley LLP on

On Tuesday, the SEC announced settled charges against four companies for “making materially misleading disclosures regarding cybersecurity risks and intrusions. The charges against the companies, Unisys Corp., Avaya Holdings...more

DLA Piper

Australia: Anti-Scam Measures and Ransomware Reporting on the Agenda

DLA Piper on

Cyber regulation is changing in Australia. As governments globally grapple with the everchanging and increasingly challenging cyber landscape, Australia is poised to implement new laws and update existing regulation in order...more

Wyrick Robbins Yates & Ponton LLP

SEC Issues Additional Guidance on Form 8-K Cybersecurity Disclosures

The Securities and Exchange Commission (the “SEC”) has issued five compliance and disclosure interpretations related to the disclosure of material cybersecurity incidents under Item 1.05 of Form 8-K....more

Alston & Bird

SEC Corporation Finance Provides Additional Guidance on the Disclosure of Material Cybersecurity Incidents in Form 8-K

Alston & Bird on

On June 24, 2024, the Division of Corporation Finance (“Corp Fin”) of the Securities and Exchange Commission (“SEC”) issued five new Compliance and Disclosure Interpretations (“C&DIs”) related to the disclosure of “material”...more

Mayer Brown Free Writings + Perspectives

SEC Announces New Cybersecurity Interpretations

The SEC’s Division of Corporation Finance yesterday published five new Compliance and Disclosure Interpretations, or “C&DIs,” all concerning Item 1.05 of Exchange Act Form 8-K, Disclosure of Cybersecurity Incidents....more

Wyrick Robbins Yates & Ponton LLP

Living in a Material World: SEC Clarifies Expectations Regarding Form 8-K Disclosure of Material Cybersecurity Incidents

Last month, the Director of the Division of Corporation Finance (“Director”) of the Securities and Exchange Commission (“SEC”) issued new guidance regarding disclosures of material cybersecurity incidents via Form 8-K under...more

Bradley Arant Boult Cummings LLP

Mandatory Cybersecurity Incident Reporting: The Dawn of a New Era for Businesses

A significant shift in cybersecurity compliance is on the horizon, and businesses need to prepare. Starting in 2024, organizations will face new requirements to report cybersecurity incidents and ransomware payments to the...more

Baker Donelson

[Webinar] New Privacy and Cybersecurity Regulations: What Financial Institutions Need to Know to Stay Compliant - June 13th, 10:00...

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The financial services industry has seen a litany of new data privacy and cybersecurity challenges through the first half of 2024. Financial institutions are facing unprecedented compliance hurdles resulting from the...more

Wiley Rein LLP

Darned if You Do, Darned if You Don’t: Recent Lessons from the SEC On Cyber Reporting

Wiley Rein LLP on

The Security and Exchange Commission (SEC) Director of the Division of Corporate Finance, Erik Gerding, released a statement on May 21, 2024 that may have regulated entities scratching their heads about compliance and the...more

Mayer Brown Free Writings + Perspectives

Avoiding Cybersecurity Incident Overdisclosure:  Helpful Guidance

In a statement yesterday, the Director of the SEC’s Division of Corporation Finance commented on the relatively new Form 8-K Item 1.05 requirement.  Last summer when the SEC adopted the final rules relating to cybersecurity...more

Stinson - Corporate & Securities Law Blog

SEC Director of Corporation Finance Speaks to Cybersecurity Disclosures

Erik Gerding, Director, Division of Corporation Finance, released a statement on the preferred methods to disclose certain cybersecurity incidents.  Mr. Gerding noted “The cybersecurity rules that the Commission adopted on...more

Health Care Compliance Association (HCCA)

Privacy Briefs: April 2024

The Cybersecurity and Infrastructure Agency (CISA) is seeking comment on a proposed rule to implement reporting requirements for critical infrastructure entities, including health care entities, on cyberattacks and ransomware...more

Pillsbury Winthrop Shaw Pittman LLP

New CISA Rule Would Require Widespread Cyber Incident Reporting, Updated Timelines and Penalties for Critical Infrastructure...

Most businesses in the United States will have to file incident reports—including for ransomware payments—under the Proposed Rule. The Department of Homeland Security has the authority to issue subpoenas and even penalties...more

Paul Hastings LLP

Key Takeaways from SEC Speaks 2024 Event

Paul Hastings LLP on

Last week, Paul Hastings attended the Securities and Exchange Commission (SEC) Speaks 2024 event presented by the Practising Law Institute (PLI) in cooperation with the SEC on April 1 and 2. The SEC Speaks program provides...more

Mitratech Holdings, Inc

Compliance Down Under: Understanding Australian Regulation CPS 230

The Australian Prudential Regulation Authority (APRA) released Prudential Standard CPS 230 in March 2017. At a glance, the regulation aims to strengthen the cybersecurity resilience and operational risk management of the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Emerging Expectations: The Board’s Role in Oversight of Cybersecurity Risks

Key Points - - New SEC rules from 2023 require public companies to report material cybersecurity incidents promptly and detail their cybersecurity risk management strategies in annual reports — requirements that increase...more

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