Digital Directors Network

Today's contribution to the #CISO community. Digital Directors Network #QTE

If you pay ransom in response to an incident, and it is covered/reimbursed by cyber insurance, does that mean it is not material? Per the SEC, No...here's what they say. Answer: No. The standard that the Commission articulated for assessing the materiality of a cybersecurity incident under Item 1.05 of Form 8-K is set forth in the adopting release for the rule and is reiterated in Question 104B.05. Further, as the Commission noted in the adopting release for Item 1.05 of Form 8-K, when assessing the materiality of cybersecurity incidents, registrants “should take into consideration all relevant facts and circumstances, which may involve consideration of both quantitative and qualitative factors” including, for example, “consider[ing] both the immediate fallout and any longer term effects on its operations, finances, brand perception, customer relationships, and so on, as part of its materiality analysis.” Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure, Release Nos. 33-11216; 34-97989 (July 26, 2023) [88 FR 51896, 51917 (Aug. 4, 2023)]. Under the facts described in this question, such consideration also may include an assessment of the subsequent availability of, or increase in cost to the registrant of, insurance policies that cover cybersecurity incidents. [June 24, 2024] Join us at Blue Team Con on September 5 in Chicago for the only #cybersecurity incident materiality determination masterclass to learn more. #CISO #incidentresponse Blue Team Con https://lnkd.in/gEd84PGA

It's all about the process. The SEC #cybersecurity disclosure rules are a gift for #CISOs...if they can step up to this leadership moment. Join us in Chicago September 5 for the only masterclass in the galaxy that teaches you how to implement them and lead the C-suite and your board through incident materiality analysis. This masterclass/tabletop is good for the whole incident response team too. Join us! #QTE Digital Directors Network #corpgov William (Tony) Cole Jason Fruge Cyversity ISACA Chicago Chapter ISC2 #CISO Michael Piacente Blue Team Con https://lnkd.in/gEd84PGA

It's nice to see someone winning in #cybersecurity.... looks like the best risk cyber insurers are good at mitigating is their own. Investors and customers continue to bear the brunt of the self-insured risk failures of companies on #cybersecurity. Digital Directors Network #corpgov

If you are at Black Hat experiencing those Day 2 Vegas regrets and already checking for earlier flights out as you walk the lonely and sweltering Vegas streets wondering why there's no training on making a #cybersecurity incident materiality determination pursuant to the SEC disclosure rules, we're here to help. Join us in beautiful Chicago on September 5 at Blue Team Con where we'll be teaching the only masterclass/tabletop and process for doing just that. #blackhat Digital Directors Network #CISO #incidentresponse #blackhat2024

Join us in Chicago at Blue Team Con on September 5 for the only masterclass/tabletop on determining #cybersecurity incident materiality under the new SEC rules. Why didn't Crowdstrike make a 1.05 disclosure, why has Delta not made a disclosure? How do you adopt and implement a repeatable process? Bring the entire incident response team, your board and #CFO to add to the fun. #CISO #CIO https://lnkd.in/gEd84PGA

Cybersecurity success starts at the top, so does failure. Until this one issue is fixed, America's companies will continue to have big #cybersecurity problems. Hugh Thompson, Ph.D. RSA Conference #corpgov Digital Directors Network

Want to understand how to identify systemic risk in complex digital business systems like the incident with CrowdStrike today? We've been teaching the only masterclass focused on this issue Digital Directors Network since 2019 for #CIOS #CISOS and #Directors. Join QTE 501 the boardroom readiness masterclass for IT and cybersecurity executives starting August 19 @ 9 AM PT. https://lnkd.in/gwnC9Utr