Lexology July 28, 2023
After much anticipation, the Securities and Exchange Commission (the “Commission”) has adopted Regulations (the “Regulations”) regarding public companies’ obligations to include disclosure in annual reports on Form 10-K (Form 20-F for foreign issuers) regarding material cybersecurity risks, risk management and governance, and to file current reports on Form 8-K (for 6-K for foreign issuers) to report material cybersecurity incidents. The Commission adopted many of the reporting requirements proposed in the March 2022 draft of the Regulations and discussed in our prior blog post. Notably, the obligation to disclose information regarding the Board of Directors’ cybersecurity expertise was eliminated from the final Regulations based on feedback from commentors who objected to this requirement. In the coming days, we will publish a...
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