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Upholding compliance requires an organization-wide effort. In today’s digital landscape, there is no short supply of risks that organizations must be aware of in order to maintain compliance and avoid potential penalties or breaches. To help build awareness and mitigate harm, let’s explore the 7 common risks that hinder compliance efforts.
As organizations operationalize the latest SEC cyber event reporting obligations, the time is ripe to discuss not only how cyber events are reported, but who owns cyber risk, and how collaboration can reduce organizational risk.
Effective November 1, 2023, the Part 500 amendment to the NYDFS Cybersecurity Regulation (23 NYCRR 500) is a new set of cybersecurity requirements for all covered financial institutions. The NYDFS bolsters cybersecurity requirements through a series of changes that address both the advancements of the cybersecurity threat landscape as well as increased opportunities for organizations to protect themselves.
To better understand what the SEC disclosure rules and the announced amendments mean for organizations, C-suite executives, and Board-level stakeholders, RadarFirst CEO Don India met with privacy, cyber, and risk experts to investigate why the SEC amendments make cybersecurity disclosure a Board-level issue.
Effective on or after December 18, 2023, SEC regulators are requesting clear, documented evidence of how companies conduct cybersecurity materiality assessments and they’re leaving it up to each organization to define for themselves what constitutes material harm and which incidents rise to the level of disclosure.
