October 22, 2024 at 12:35PM Four tech companies, including Avaya, Check Point, Mimecast, and Unisys, agreed to pay penalties totaling $7 million to the SEC for misleading disclosures about their involvement in the 2020 SolarWinds hack. The companies were accused of downplaying cybersecurity incidents despite having knowledge of significant breaches affecting their networks. ### Meeting … Read more
October 11, 2024 at 01:32AM The FBI created a cryptocurrency, NexFundAI, to monitor and apprehend suspected fraudsters, resulting in arrests in three countries. The initiative targeted alleged “wash trading” schemes aimed at misleading investors. Charges were filed against several individuals and organizations, including Saitama, for manipulating crypto markets and making false statements. ### Meeting Takeaways: … Read more
February 4, 2024 at 10:42AM President Biden will veto Republican lawmakers’ attempt to overturn the Securities and Exchange Commission’s recently implemented cyber incident disclosure rules. These rules require public companies to disclose material breaches within four business days. The White House argues that the rules promote transparency and incentivize companies to invest in cybersecurity, benefitting … Read more
January 9, 2024 at 04:53PM The SEC’s Twitter account was hijacked to falsely announce approval of Bitcoin ETFs, causing a surge and subsequent drop in cryptocurrency prices. The misleading tweet was deleted, and SEC chairman Gary Gensler confirmed it as false. Bitcoin initially spiked to $47,900 but is now at $46,247. Developments ongoing. The SEC’s … Read more
December 12, 2023 at 06:00AM The FBI has issued guidance on SEC data breach reporting, including potential delays. SEC’s new cybersecurity rules require public companies to report material breaches within 4 days via Form 8-K. FBI clarifies that Justice Dept. can grant a 30-60 day delay for national security reasons, but delays can’t exceed 120 … Read more