NEW YORK, April 6 (Business Law Currents) – Ever-growing reliance on technology in customer interactions, proprietary data storage and even normal business operations is creating increased risk for companies working to ensure these systems remain uncompromised. As threats of cyber-attacks expand across industries, and given the potential material impact on operations, the security of these digital technologies from internal and external threats is vital.
Prior to newly released SEC guidance, there were no existing requirements to explicitly disclose these cyber-risks. With annual reports now being filed and sent to shareholders, companies have made varied levels of cyber-risk disclosure, and these disclosures may expand in the future with subsequent regulatory oversight. (more…)