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On July 26, 2023, the U.S. Securities and Exchange Commission (SEC) adopted final rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance and incident reporting by public companies subject to the Securities Exchange Act of 1934. The final rules passed by a narrow 3-2 vote, which is representative of the compromise required to enact these much commented on rules that will be burdensome, especially for public companies with underdeveloped cybersecurity programs. The adoption of these SEC cybersecurity rules demonstrates that cybersecurity is a top corporate risk today and that the SEC is arming investors with information to better evaluate it. In Commissioner Caroline Crenshaw’s statement on the SEC rules’ adoption, she noted that, “cybersecurity breaches reported by public companies increased by nearly 600% in the last decade and the costs, borne by issuers and their investors, are estimated to be in the trillions of dollars per year in the U.S. alone.” Since cybersecurity risks and the cost of resolving cyber incidents have increased alongside the digitalization of operations, the growth of remote work and the increasing reliance on third-party service providers for information technology services, the SEC has determined investors require more consistent, comparable, decision-useful and transparent disclosures to evaluate a company’s exposure to cybersecurity risks and incidents as well as a company’s ability to manage and mitigate those risks.
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DOJ’s Cyber Fraud Initiative Is a Wake-Up Call That Keeps Ringing
By Randy S. Grossman, Kareem A. Salem and Kayla LaRosa
The DOJ's Cyber-Fraud Initiative’s results and DOJ’s guidance on corporate compliance have made the point to government contractors and corporate America — “now is the time to invest and reinvest” in cybersecurity compliance.
The Legal Help Desk: Shifting Toward User Sentiment as the Primary Health Factor
By Andrew Dober
Traditional metrics that once defined the effectiveness of help desk operations within law firms are undergoing a profound transformation. The new era places user sentiment and new delivery models at the forefront of service as a quicker “get back to work” mentality coupled with a technology-savvy generational shift. As a result, the gauges we use to measure customer satisfaction have changed and are shaping the overall future success of the legal tech support ecosystem.
The Perfect Storm: Why Contract Hiring Will Eclipse Direct Hiring In Privacy and Tech In 2024
By Jared Coseglia
Part Two of a Two Part Article
Part 1 of this article looked at how remote flexibility is driving job seekers, that most privacy programs will use contractors by 2026, the speed of hire, the real cost of DIY staffing and whether posting jobs online really works. Part 2 looks at what’s next for CPOs, AI jobs in privacy, where the new jobs will come from, whose salaries are spiking and some guidance for the latter half of 2024.
Six Reasons e-Discovery Benefits from AI
By Khaled Jebbari
Recent media coverage makes it clear that the time for law firms to embrace the disruption of AI is now. If you wait, from the looks of it, you risk losing business, and perhaps credibility.