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SEC Commissioner Stein Speaks on Board Cybersecurity Oversight

By Randi Morrison posted 10-04-2018 10:14 PM

  

SEC Commissioner Kara Stein articulated her views about board cybersecurity oversight (among other things) in this speech last week: "From the Data Rush to the Data Wars: A Data Revolution in Financial Markets." Most notably, she: (i) supported the notion of boards retaining independent experts to provide advice on technology and cybersecurity if they lack independent expertise on the board; (ii) advised independent directors to meet with the company's CISO in executive session at least 2x/year to facilitate candid dialogue about "culture, tone and and the resources dedicated to both prevention and resiliency"; and (iii) emphasized the board's duty to affirm that the company's disclosures adequately reflect its significant cyber risks.

          See also Cadwalader's "SEC Commissioner Proposes Expanding Cybersecurity Regulations," Think Advisor's "SEC's Stein Wants More Cyber Rules for Advisors, BDs," and numerous additional board cybersecurity oversight resources. This post first appeared in this week's Society Alert!

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