We had previously reported on a Securities and Exchange Commission open meeting that had been scheduled for today. The open meeting was cancelled. The Commission approved the issuance of an interpretive release to provide guidance to public companies when preparing disclosures about cybersecurity risks and incidents. The release (available here: https://goo.gl/QVhwSG) discusses the Commission's views regarding the importance of maintaining robust policies and procedures relating to cybersecurity risks and incidents. The guidance in the release updates and reinforces the guidance provided in 2011 by the Commission's Division of Corporation Finance.
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Morrison & Foerster LLP. All rights reserved
