SolarWinds and its CISO accused of misleading investors before major cyberattack

The Securities and Exchange Commission (SEC) has announced charges against software company SolarWinds Corporation and its chief information security officer (CISO), Timothy G. Brown, for “fraud and internal control failures relating to allegedly known cybersecurity risks and vulnerabilities.” In 2020, Read More …

MGM Resorts estimates $100M loss due to cyber attack

MGM Resorts sent a letter to customers regarding the recent cyber incident that took place on Sept. 11. MGM Resorts stated that on or around Sept. 29, it determined that an unauthorized third party obtained the personal information of some Read More …

Impact of SEC’s New Cybersecurity Policies

The rapid advancement of technology has led to an increasing number of cybersecurity incidents that pose significant risks to organizations, their stakeholders, and the general public. Recognizing the importance of transparent and timely reporting of such incidents, the U.S. Securities Read More …

New SEC rule requires public companies to disclose cybersecurity breaches in 4 days

The Securities and Exchange Commission adopted rules Wednesday to require public companies to disclose within four days all cybersecurity breaches that could affect their bottom lines. Delays will be permitted if immediate disclosure poses serious national security or public safety Read More …

The Role of the SEC in Enforcing InfoSec Legislation

Founded 85 years ago at the height of the Great Depression, the Securities and Exchange Commission (SEC) has a clear mission: to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. Put simply, the SEC aims to Read More …

What happens if you ‘cover up’ a ransomware infection? For Blackbaud, a $3m charge

Blackbaud has agreed to pay $3 million to settle charges that it made misleading disclosures about a 2020 ransomware infection in which crooks stole more than a million files on around 13,000 of the cloud software slinger’s customers. According to Read More …

SolarWinds says it’s facing SEC ‘enforcement action’ over 2020 hack

The long hangover from a 2020 state-sponsored compromise still isn’t over for SolarWinds, as the software giant targeted by Russian government hackers has to pony up $26 million to shareholders and face possible enforcement action from the federal government. In Read More …

Russian hackers made millions by stealing SEC earning reports

A Russian national working for a cybersecurity company has been extradited to the U.S. where he is being charged for hacking into computer networks of two U.S.-based filing agents used by multiple companies to file quarterly and annual earnings through Read More …

US brokerage firms warned of ongoing phishing with penalty threats

FINRA, the U.S. securities industry regulator, has warned brokerage firms of an ongoing phishing campaign threatening recipients with penalties unless they provide the information requested by the attackers. FINRA (Financial Industry Regulatory Authority) is an independent, non-governmental securities regulator supervised Read More …