Proactive adaptation to the SEC cybersecurity rules is not just a choice, it’s a strategic imperative.
What Every CFO Needs to Know About Controls Automation
The Securities and Exchange Commission (SEC) has adopted new cybersecurity rules that require registered investment companies and investment advisers to adopt and implement written cybersecurity policies and procedures. These rules are designed to protect the confidentiality, integrity, and availability of customer information.
One of the most important aspects of the new SEC cybersecurity rules is the requirement for executive and board reporting. Executives and board members are responsible for overseeing the development and implementation of cybersecurity policies and procedures. They are also responsible for ensuring that these policies and procedures are effective in protecting customer information.
Executive and board reporting is essential for ensuring that cybersecurity risks are identified, assessed, and mitigated. It also helps to ensure that cybersecurity policies and procedures are reviewed and updated on a regular basis.
Executive and board reporting is an essential component of SEC cybersecurity compliance. By implementing a robust executive and board reporting program, registered investment companies and investment advisers can help to protect their customers’ information and ensure that they follow the new SEC cybersecurity rules.
Pathlock Continuous Controls Monitoring plays a critical role in helping companies meet their regulatory obligations. CCM allows companies to continuously assess the effectiveness of their business process and IT general controls, enabling them to promptly identify and rectify any control weaknesses. This real-time monitoring ensures that companies maintain a robust security posture and effectively safeguard sensitive customer information.
CCM helps companies to proactively address identify, quantify and remediate potential risks and vulnerabilities. This enables them to swiftly detect and respond to security breaches, thereby mitigating potential damage and complying with the SEC’s incident response and disclosure requirements. CCM generates detailed audit trails and evidence, facilitating regulatory reporting and demonstrating compliance with the new rules. By leveraging CCM, companies can effectively navigate the complex landscape of SEC cybersecurity regulations and ensure ongoing adherence to these vital requirements.
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