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SEC: Companies Must Disclose More Info on Cybersecurity Attacks & Risks
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REISEN1955
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50%
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
50%
50%
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
50%
50%
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
50%
50%
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
50%
50%
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
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50%
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
50%
50%
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
50%
50%
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
100%
0%
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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