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The Securities and Exchange Commission is now implementing rules requiring registrants to disclose material cybersecurity incidents they experience and to disclose on an annual basis material information regarding their cybersecurity risk management, strategy, and governance. The Commission also adopted rules requiring foreign private issuers to make comparable disclosures.
SEC Chair Gary Gensler said “many public companies provide cybersecurity disclosure to investors. I think companies and investors alike, however, would benefit if this disclosure were made in a more consistent, comparable, and decision-useful way.”
Microsoft is one of the first to disclose under the new rules this month
Glenn Barnes
Jonathan Chrimes