In part 2 of an S4x20 video on Cybersecurity Law and Governance, Lisa Sotto, Chair of Hunton Andrews Kurth’s Privacy and Cybersecurity practice, addresses the U.S. Securities and Exchange Commission’s (“SEC’s”) expectations of public companies with respect to robust and timely disclosures of cyber incidents and risks. Despite being inactive in the early years of cybersecurity incidents, the SEC is now quite active in pursing appropriate cybersecurity disclosure, and the agency formed a cyber unit in 2018. In this video, Sotto highlights the uptick in enforcement actions brought against public companies. She also addresses certain accelerated reporting obligations to global regulators following a cybersecurity attack.
For more detail, watch Part 2. Part 1 is also available.