Public companies now have a pathway to request a delay in their cybersecurity incident disclosure to the U.S. Securities and Exchange Commission (“SEC”). On December 6, 2023, the Federal Bureau of Investigation (“FBI”) Cyber Division published the “Cyber Victim Requests to Delay Securities and Exchange Commission Public Disclosure Policy Notice” (the “Policy Notice”) in response to the SEC’s finalized disclosure rules (the “Final Rules”). Published on July 26, 2023, the Final Rules established guidelines around cybersecurity risk management, strategy, governance, and incidents for public companies subject to the Securities Exchange Act of 1934. Among several requirements under the Final Rules, companies are required to disclose cybersecurity incidents within four days of a materiality determination by filing an SEC Form 8-K.Continue Reading FBI Offers Pathway to Request Delay of SEC Cybersecurity Incident Disclosures
DOJ
DOJ and FTC State that Antitrust is Not a Roadblock to Cybersecurity Information Sharing
The Department of Justice and the Federal Trade Commission on April 10 issued Antitrust Policy Statement on Sharing of Cybersecurity Information, a joint policy statement that provides critical infrastructure industries the clarity they need to share cybersecurity information among themselves to combat cyber threats without violating the antitrust laws those agencies enforce. The agencies note that “properly designed cyber threat information sharing is not likely to raise antitrust concerns and can help secure the nation’s networks of information and resources.” The benefits of sharing this highly technical information are significant: sharing increases the security, availability, integrity, and efficiency of information systems, which in turn, leads to a more secure and productive nation. The agencies make clear that they “do not believe that antitrust is—or should be—a roadblock to legitimate cybersecurity information sharing.” This policy statement is meant to provide more certainty to the concerns private companies have raised as the threats to our nation’s infrastructure and information systems increase in number and sophistication.
Continue Reading DOJ and FTC State that Antitrust is Not a Roadblock to Cybersecurity Information Sharing