Cybersecurity And Government Contractors

Law360, New York (November 8, 2011, 12:44 PM EST) -- New guidance[1] from the U.S. Security and Exchange Commission’s Division of Corporate Finance, issued Oct. 13, 2011, advises publicly traded companies that they are responsible for evaluating cybersecurity[2] risks and, potentially, for disclosing such risks to investors. This is the first time the SEC has issued disclosure guidance on the subject of cybersecurity.[3]

SEC registrants should now take steps to assess whether their current risk evaluation and disclosure procedures are sufficient to account for the potential liabilities associated with cybersecurity threats. The nonbinding guidance,[4] which applies...
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