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The SEC Cyber Rules and Materiality: Show Your Work!


July 26, 2023 marks the latest evolution of the cybersecurity regulation landscape as the Securities and Exchange Commission (SEC) passed cybersecurity regulations for publicly traded companies. At the open meeting, SEC Commissioner Jaime Lizárraga shared the sobering fact that, last year, 83 percent of companies experienced more than one data breach, with an average cost of $9.44 million in the U.S.; breaches increased 600 percent over the last decade and total costs across the U.S. economy could run as high as trillions of dollars per year.

In light of these facts, it's fair to think these new regulations will have a widespread impact on publicly traded companies and their third-party vendors. The centerpiece of the new regulations is the four-day material breach reporting requirement. This means that public companies will need to include a materiality assessment as a key element within their incident response plan.

This webinar will explain:

  • What the new rules are
  • How to approach materiality under these new rules
  • What you need to do to be prepared for a call from the SEC if you have a data breach

Presented by Baker Donelson Shareholders Justin S. Daniels and Alexander F. Koskey, CIPP/US, CIPP/E, PCIP, and VP of Operations at Digital Hands, Dewayne Alford.

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