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SEC: Companies Must Disclose More Info on Cybersecurity Attacks & Risks
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REISEN1955
REISEN1955,
User Rank: Ninja
2/23/2018 | 8:40:21 AM
And this needs to be a RULE?????
COMMON SENSE really.  Businesses should be open and forthcoming about events like this but because it is BAD news (depress shareholder value) and because the C-Suite has zero understanding of what a threat can do (save depress shareholder value) ... IT is encouraged to hide, sweep issues under the rug, deny and let the C-Suite blame it (as Equifax did) one ONE, JUST ONE, IT worker who has ( of course ) been discharged (thereby saving shareholder value).  THEN in a few months the truth comes out and all hell breaks loose, depressing (dramatically) shareholder value even more than had they been honest about it in the first place.
Dr.T
Dr.T,
User Rank: Ninja
2/25/2018 | 11:26:21 AM
Re: And this needs to be a RULE?????
COMMON SENSE really. I would agree with this, it needs to be based on common sense.
Dr.T
Dr.T,
User Rank: Ninja
2/25/2018 | 11:27:53 AM
Re: And this needs to be a RULE?????
Businesses should be open and forthcoming about events I would agree with this too. There are other laws and regulations that forces them to to the ethical thing.
Dr.T
Dr.T,
User Rank: Ninja
2/25/2018 | 11:29:43 AM
Re: And this needs to be a RULE?????
the C-Suite has zero understanding of what a threat can do I would say they actually know what is happening, they may just hold it to themsleve to use it as a leverage.
Dr.T
Dr.T,
User Rank: Ninja
2/25/2018 | 11:31:55 AM
Re: And this needs to be a RULE?????
Equifax C-suite may be overlooking things, lower layer roles still have major roles to play, it the could not secure the network they should resign to avoid responsibility.
Joe Stanganelli
Joe Stanganelli,
User Rank: Ninja
2/25/2018 | 9:40:26 PM
Re: And this needs to be a RULE?????
This is part of the problem of being a company on the public stock exchange. Short-term-gain investors have motives and goals that are completely contrary to long-term organizational goals. And yet trying to please short-term investors is usually a failing strategy.
Dr.T
Dr.T,
User Rank: Ninja
2/25/2018 | 11:33:26 AM
Trading stocks
execs can't trade stocks if they have unannounced information on a security breach This is good I think. It should involve not only security breaches but all other things that can give advantages to execs.
Joe Stanganelli
Joe Stanganelli,
User Rank: Ninja
2/25/2018 | 9:42:05 PM
Re: Trading stocks
@Dr.T: To be fair, and to say nothing of self-dealing (which is a different, albeit related, matter entirely), there are some economists that have touted the theory that insider trading is good for markets and should be legalized as such -- because the immediate effect it has on market value allows information to reach investors more quickly. There is some good debate on this issue.

247locksmith
247locksmith,
User Rank: Apprentice
2/25/2018 | 1:16:45 PM
What the heck??
Why does this need to be a rule?? It should be obvious that they need to disclose risks such as this! Cybersecurity is something that has to be taken seriously. I think that's just as serious as hiring an emergency locksmith service when you need it.


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