In 2023, the U.S. Securities and Exchange Commission (SEC) adopted a new disclosure rule: Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure. The substance and integrity of disclosure on this matter can directly or indirectly impact corporate reputation, access to capital, and stakeholder engagement. The risk of noncompliance is high.
So, how can the board provide effective cybersecurity oversight? In this practical guide, the Nasdaq Center for Board Excellence provides information for boards to navigate disclosure conundrums and ensure their organizations have the right cybersecurity strategy in place. The guide also details a cyber incident disclosure readiness checklist.