SEC Cyber Disclosure Actions Point To Merciless Scrutiny
By John Reed Stark (August 24, 2021, 5:51 PM EDT) -- The U.S. Securities and Exchange Commission has just stepped up its enforcement efforts for internal cyber-related reporting failures by public companies — big time.
To date, given the dearth of SEC enforcement actions charging cyber-related disclosure failures, commentators typically cite the SEC enforcement action against Altaba Inc., formerly known as Yahoo! Inc., as the most pertinent precedent and guide for heedful corporate counsel.
But with the recent announcements of two SEC cyber-related administrative actions, one involving a cyberattack upon an educational services company and the other involving a cyber vulnerability at a financial services firm, the SEC has not only moved the...
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