The U.S. Securities and Exchange Commission adopted final rules on July 26, 2023, requiring public companies to provide current disclosure, within what may be a short time window, about material cybersecurity incidents and to include disclosure relating to cybersecurity risk management, strategy, and governance in annual reports.

According to the SEC, these rules are designed to enhance and standardize disclosures regarding cybersecurity risk management, strategy, and incidents, which in the SEC’s view have been inconsistent (and in some cases deficient) since the SEC first published guidance in this area back in 2011. The final rules are based on a rule proposal published by the SEC more than one year ago in March 2022 and do scale back some of the previously proposed disclosure requirements.

Read the full Update here.

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Photo of Allison Handy Allison Handy

Allison Handy is the firmwide co-chair of the Corporate & Securities practice. Her extensive experience includes advising public and private companies in connection with corporate governance practices, disclosure issues, and capital markets transactions, such as equity offerings, debt offerings and tender offers. She…

Allison Handy is the firmwide co-chair of the Corporate & Securities practice. Her extensive experience includes advising public and private companies in connection with corporate governance practices, disclosure issues, and capital markets transactions, such as equity offerings, debt offerings and tender offers. She is also a leader of the firm’s Environmental, Social, and Governance advisory team.

Allison provides counsel to companies on a broad range of issues faced by management and directors in connection with the many compliance aspects of securities laws, including governance rules adopted by the Securities and Exchange Commission (SEC) and stock exchanges. She advises boards and committees in matters related to internal investigations and the efforts of shareholder activists, and works closely with in-house counsel, financial personnel, and outside auditors and advisors to help her clients prepare proxy statements and other reports to investors that meet complex disclosure obligations.

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Photo of Andrew Moore Andrew Moore

Andrew Moore, a partner in the firm’s Corporate practice, focuses his practice on public offerings and corporate finance, securities regulation, corporate governance and mergers and acquisitions. Andrew is a leader of the firm’s public companies group, regularly advising public companies on best corporate…

Andrew Moore, a partner in the firm’s Corporate practice, focuses his practice on public offerings and corporate finance, securities regulation, corporate governance and mergers and acquisitions. Andrew is a leader of the firm’s public companies group, regularly advising public companies on best corporate governance practices, disclosure matters and SEC compliance.

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Photo of David Aaron David Aaron

David Aaron is a former federal prosecutor with the U.S. Department of Justice (DOJ), National Security Division and a former Manhattan Assistant District Attorney.

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Photo of Gina Buschatzke Gina Buschatzke

Gina Buschatzke focuses on commercial and securities litigation, with experience on matters involving complex civil litigation and securities class actions under the Securities Act of 1933 and the Securities and Exchange Act of 1934. She has conducted legal research, drafted motions and components…

Gina Buschatzke focuses on commercial and securities litigation, with experience on matters involving complex civil litigation and securities class actions under the Securities Act of 1933 and the Securities and Exchange Act of 1934. She has conducted legal research, drafted motions and components of pleadings, and participated in various phases of discovery. She has also vetted merits of whistleblower claims for potential representation.

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Photo of Kathryn Campbell Kathryn Campbell

Kathryn Campbell represents large and mid-sized clients in complex commercial litigation matters in state and federal court on a variety of business disputes and white-collar issues. Her experience includes representing clients in contract disputes, healthcare litigation, internal investigations, business torts, False Claims Act…

Kathryn Campbell represents large and mid-sized clients in complex commercial litigation matters in state and federal court on a variety of business disputes and white-collar issues. Her experience includes representing clients in contract disputes, healthcare litigation, internal investigations, business torts, False Claims Act violations, trade secret and unfair competition claims, as well as products liability claims.

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Photo of Erin Gordon Erin Gordon

Erin Gordon represents clients in a variety of corporate and financial transactions, including capital markets, securities, mergers, acquisitions, and banking. Erin advises clients on corporate governance, securities law compliance, corporate formation, and venture capital investments. She has experience in helping entrepreneurs in various…

Erin Gordon represents clients in a variety of corporate and financial transactions, including capital markets, securities, mergers, acquisitions, and banking. Erin advises clients on corporate governance, securities law compliance, corporate formation, and venture capital investments. She has experience in helping entrepreneurs in various industries, as well as early-stage, growth-stage, and established public and private companies.

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