SEC Mandates New Cybersecurity Disclosures

On July 26, 2023, the SEC adopted final rules that require public companies to promptly disclose material cybersecurity incidents on Form 8-K and detailed information regarding their cybersecurity risk management and governance on an annual basis on Form 10-K. In Shearman & Sterling’s recent client alert, the new cybersecurity disclosures required by the final rules are summarized, and the meaningful changes from the SEC’s proposed rules from March 2022 are highlighted. Additionally, there are suggestions for what companies can do to prepare for compliance with the new requirements. Read the client alert here.