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Michael Daniel and Richard Bird helped Smart Industry and our audience explore the latest frontier in corporate transparency: the new U.S. Securities and Exchange Commission rules, which went into effect in mid-December, that require public companies, including manufacturers, to unveil their cybersecurity defense strategies (in their annual corporate 10-K reports) as well as actual incidents (in any 8-K filings). The new rules have brought some sunshine to some specific attack scenarios of late.
See also: Prior podcast on cybersecurity and the new SEC rules
They also have required many manufacturers to scramble and beef up their data and reporting policies as well as anticipate government reporting when incidents do occur—all in all a messy business, as Daniel and Bird reported.
And, as we also learned from the duo in our hourlong program, companies haven’t done such a great job—and that more regulation is inevitably on the way that will burden corporations, cause more confusion, or (looking at things less cynically) help industry structure preparedness and incident reporting better for the future.
See also: Microsoft hack tests new SEC disclosure rules
Daniel predicted the government regulatory structure is only bound to become more complex, but both agreed that companies probably need the guidance and structure.
Please take some time to view the video because the discussion was spirited and very informative.