Bart McDonough Quoted in Ignites on the SEC’s New Guidance for Reporting Cyber Incidents
CEO, Bart Mcdonough, was quoted in in an Ignites article, titled “SEC Issues New Guidance for Reporting Cyber Incidents, Risks,” which discusses the new 24-page document expanding upon 2011 guidance issued by the SEC. While the effectiveness of the new guidance is being debated, the agency does address two new subjects: the importance of establishing and maintaining protocols for determining when a cyber incident is material and should be disclosed; and how insider trading rules apply in the context of such incidents. “The agency is saying ‘you should not define the end zone’ after a breach has occurred. How companies determine what is ‘material’ should be part of a company’s policies and procedures,” said Bart.
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