The SEC’s Cybersecurity Disclosure Rule: Compliance Tips and Seeking Disclosure Delays

In late July 2023 the SEC adopted an entirely new disclosure regime, requiring covered entities to disclose a wide range of corporate cybersecurity governance measures as well as to rapidly disclose material cyber incidents. Companies have already begun to express confusion over what exactly will be required as a result of the new cyber disclosure regime, particularly for entities that are not currently subject to any sort of mandatory cybersecurity incident reporting regime. In the wake of the SEC’s proposal, public companies are scrambling to address key questions such as:

• What “material events” does the SEC cyber disclosure say must be disclosed? – 10 minutes
• How does the SEC expect companies to assess materiality under the new rules, and what does enforcement precedent tell us? – 10 minutes
• How should incident response processes as well as other applicable policies, procedures, and controls be revised? – 10 minutes
• What will enforcement look like? – 10 minutes
• How can companies best position themselves to utilize the available national security/public safety delay option? – 10 minutes
• What can companies do proactively to validate their cybersecurity programs and disclosure mechanisms? – 10 minutes

Faculty, part of the SEC Cybersecurity team at Pillsbury Winthrop Shaw Pittman LLP will review and offer thoughts on the above key questions.  They will provide practical advice on how to comply with the SEC’s many new requirements and place companies in the best position possible to avoid lengthy disputes with SEC officials.  The panelists will draw upon their knowledge as cybersecurity legal experts and former members of the SEC’s inaugural cyber unit to help entities finetune their policies, procedures, and controls to minimize enforcement risk. 

Who Should Attend:  In-house counsel, outside attorneys, compliance, finance, IT, cybersecurity and other allied professionals interested in the SEC’s new cybersecurity disclosure regime

Program Level: Update

Prerequisites: None

Advanced Preparation: None

Faculty:

Brian E. Finch

Pillsbury Winthrop Shaw Pittman LLP

David Oliwenstein

Pillsbury Winthrop Shaw Pittman LLP