Public firms are now obligated to notify data breaches within four days of an event under the law pertaining to Form 8-K reporting
All parties engaged with the firm will be able to have more accessible talks about cybersecurity threats if needed inquiries are answered in a way that steers clear of too technical information
Cybersecurity Risk Management Guidelines and PracticesFor more details visit govindhtech.com
The new SEC regulation mandates that Form 10-K Amendments include particular cybersecurity policies and procedures in addition to revisions to Form 8-K reporting
According to the Cost of a Data Breach Report 2023, the average cost of a breach actually increased by 15.3% from 2020 to a new high of USD 4.45 million
In light of the recent SEC requirements, businesses need to ensure they have a complete incident response procedure in place
A top-tier security orchestration, automation, and response (SOAR) solution will enable an organization’s SOC to handle threat response more effectively and forcefully
The integration of appropriate tools, like SOAR, can help the CISO effectively communicate the company’s risk posture to the board of directors and C-suite leadership, creating a common language to start the conversation