U.S. Securities and Exchange Commission

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Managing and Reporting Third-Party Cybersecurity Incidents Under the New SEC Cyber Risk Regulations

The rules on reporting cybersecurity risks and incidents pose many challenges for companies. Those challenges can be even more difficult when the cybersecurity incident affects third-party systems. With no exceptions for third-party cybersecurity incidents under the new cybersecurity reporting regulations, companies should take proactive steps to assess and respond appropriately to third-party cybersecurity incidents. The … Continue Reading

Rule 10b5-1 Application and Enforcement

On March 1, 2023, the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) demonstrated continued interest in investigating insider trading by company executives who possess material non-public information when they unsealed an indictment and filed a civil complaint, respectively, in the Central District of California. Though a Rule 10b5-1 plan—an investment device … Continue Reading

Yahoo Fined Millions by SEC for Failing to Disclose Cybersecurity Breach

In late April, the U.S. Securities and Exchange Commission (SEC) hit Yahoo with a $35 million dollar fine for failing to properly assess and disclose a 2014 data breach that affected more than 500 million user accounts. The case marks the first time the SEC has charged a public company with cybersecurity-related disclosure violations and … Continue Reading
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