U.S. SEC Public Company Cybersecurity Disclosure Regulation Finalized With Swift Effective Date

By Sonia Gupta Barros, Colleen Theresa Brown, Paul L. Choi, Stephen L. Cohen, John P. Kelsh, David Lashway, Geeta Malhotra, Lara Shalov Mehraban, Alan Charles Raul, Andrea L. Reed, Michele L. Aronson & Sasha Hondagneu-Messner on July 31, 2023

On July 26, 2023, the U.S. Securities and Exchange Commission finalized its rule on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public Companies (the Final Rule), which will become effective 30 days following publication in the Federal Register. The Final Rule applies to all public companies subject to the reporting requirements of the Securities Exchange Act of 1934, including foreign private issuers, smaller reporting companies, and business development companies, and will require disclosure of material cybersecurity incidents on Form 8-K and Form 20-F and periodic disclosure of cybersecurity risk management, strategy, and governance in annual reports on Form 10-K and Form 20-F.

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