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ARTICLE · 31 JULY 2023

SEC Adopts Cyber Regulations

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On July 26, 2023, the Securities and Exchange Commission (SEC) adopted rules requiring disclosure of material cybersecurity incidents as well as periodic disclosure of cybersecurity risk management, strategy, and governance.

United StatesTechnology
Christopher E. Hart
Christopher E. Hart
Colin Zick
Colin Zick
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Key Takeaways:

  • On July 26, 2023, the Securities and Exchange Commission (SEC) adopted rules requiring disclosure of material cybersecurity incidents as well as periodic disclosure of cybersecurity risk management, strategy, and governance.
  • Public companies will be required to disclose "any cybersecurity incident they determine to be material" under new Item 1.05 of Form 8-K.
  • Public companies will need to describe their processes for assessing, identifying, and managing material risks from cybersecurity threats and disclose whether any previous cybersecurity incidents have materially affected (or are likely to materially affect) the company under new Item 106 of Regulation S-K.

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