SEC Proposes New Cybersecurity Requirements For Public Companies

On March 9, 2022, the U.S. Securities and Exchange Commission (SEC) proposed rules on cybersecurity risk management, strategy, governance, and incident disclosure by public companies. The proposed rules would require, among other things, periodic disclosures about a company's policies and procedures to identify and manage cybersecurity risks.

Cybersecurity disclosure requirements

The SEC's fact sheet notes that the proposed rules would:

• Require current reporting about material cybersecurity incidents on Form 8-K;
• Require periodic disclosures regarding, among other things:
• • A registrant's policies and procedures to identify and manage cybersecurity risks;
  • Management's role in implementing cybersecurity policies and procedures;