Insights & Regulatory Updates
SEC Crackdown: Key Enforcement Trends in Cyber Disclosure, Director Independence, and Reg FD
The U.S. Securities and Exchange Commission’s (SEC) Division of Enforcement has intensified its focus on significant areas of compliance for public companies. Recent actions have targeted cybersecurity incident disclosures, director independence misrepresentations, and violations of Regulation Fair Disclosure (Reg FD). Here’s what you need to know about these developments and how they could impact your company.
Key Takeaways from SEC Report on Cyber-Related Frauds and Internal Accounting Controls
In today's rapidly evolving digital landscape, the threat of cyber-related fraud has become an ever-present concern for public companies. The SEC's 2018 report sheds light on this issue, focusing on the risks posed by cyber-related frauds that exploit vulnerabilities in internal controls. The report serves as both a cautionary tale and a guide for companies looking to strengthen their defenses against these sophisticated attacks.
Cybersecurity Alert: FINRA Update on CrowdStrike IT Service Disruption
FINRA has issued a cybersecurity alert concerning a recent CrowdStrike service outage that has impacted Microsoft operating systems. This disruption, which began on July 19, 2024, is linked to a software update affecting CrowdStrike’s Falcon software. The Cyber and Analytics Unit (CAU) within FINRA’s Member Supervision program is actively monitoring the situation.