On July 19, 2023, the U.S. Securities and Exchange Commission (SEC) announced that it will hold an open meeting on Wednesday, July 26, 2023, to consider whether to adopt rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incidents by public companies that are subject to the reporting requirements of the Securities Exchange Act of 1934.
The SEC proposed the cybersecurity rules in early 2022 and the rules contemplated, among other things, current reporting on a Form 8-K of material cybersecurity incidents, disclosures relating to a company’s cybersecurity policies, governance, and management, and disclosures relating to a company’s board cybersecurity expertise. For more information on the proposed rules, please see our previous Client Alerts, which are available here and here.