SEC charges tech companies for downplaying SolarWinds breaches

October 22, 2024 at 02:39PM The SEC charged Unisys Corp, Avaya Holdings, Check Point Software, and Mimecast for misleading investors about cybersecurity breaches from the 2020 SolarWinds hack. The companies agreed to pay civil penalties totaling approximately $6 million, with fines based on downplayed disclosures regarding their incidents and data access during the breach. ### … Read more

SEC Charges Four Companies Over Misleading Disclosures on SolarWinds Hack

October 22, 2024 at 01:13PM The SEC has imposed penalties on Unisys, Avaya, Check Point, and Mimecast for minimizing the consequences of the SolarWinds Orion hack in their disclosures. This action highlights the importance of transparency in reporting cybersecurity incidents. **Meeting Takeaways:** 1. **SEC Penalties Announced**: The Securities and Exchange Commission (SEC) has imposed penalties … Read more

The CISO Role Undergoes a Major Evolution

January 25, 2024 at 10:03AM The role of the Chief Information Security Officer (CISO) is evolving, with increased accountability and personal legal responsibility. Cybersecurity industry leaders need to understand the implications of recent cases, ensure high-integrity organizations, anticipate changing accountability rules, and be constantly vigilant. Proactive involvement and collaboration are vital for the CISO’s success … Read more

Industry Reactions to SEC Charging SolarWinds and Its CISO: Feedback Friday

November 4, 2023 at 12:30PM The US Securities and Exchange Commission (SEC) has charged SolarWinds and its chief information security officer (CISO), Timothy Brown, for allegedly misleading investors about cybersecurity practices and risks before the disclosure of a major hacker attack. The SEC claims that SolarWinds’ filings misled investors while Brown knew of specific cybersecurity … Read more