Sali Wissa, Chris Bartoli, Brian Hengesbaugh, Jerome Tomas, Emily Nash, Anelis Villarreal, Author at Connect On Tech

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United States: SEC clarifies cybersecurity incident reporting under Item 1.05 on Form 8-K

May 24, 2024 by Sali Wissa, Chris Bartoli, Brian Hengesbaugh, Jerome Tomas, Emily Nash and Anelis Villarreal 4 Mins Read

In brief On May 21, 2024, Erik Gerding, Director of the US Securities and Exchange Commission (SEC) Division of Corporate Finance, issued a statement1 clarifying the SEC’s expectations for cybersecurity incident disclosures under the new Form 8-K Item 1.05. Gerding’s statement clarified that Item 1.05 disclosures should be reserved for material cybersecurity incidents, and voluntary disclosures of immaterial incidents, or of incidents before a materiality determination has been made, should be provided under a different item of…

In Cybersecurity

SEC Adopts Final Cybersecurity Rules

In brief On July 26, 2023, the U.S. Securities and Exchange Commission (“SEC”) approved the final rules for Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure (“Final Rules”). As previously reported, the SEC first proposed amendments to its rules on disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies on March 9, 2022 (“Proposed Rules”). Similar to the Proposed Rules, the Final Rules, broadly speaking, require (i) issuers to make disclosures…