As delineated by the U.S. Securities and Exchange Commission, public companies now face tighter regulations around cybersecurity breach disclosure. Companies must report certain breaches to the SEC within four days to meet these new compliance standards.
“The Form 10-K and Form 20-F disclosures will be due beginning with annual reports for fiscal years ending on or after December 15, 2023. The Form 8-K and Form 6-K disclosures will be scheduled beginning the later of 90 days after the date of publication in the Federal Register or December 18, 2023. “
As an accountable executive, you understand the importance of having solutions in place to enable fast threat detection, informed response, and precise reporting. IBM Security Guardium Data Protection (GDP) is a powerful tool designed to help organizations proactively navigate emerging regulations like the SEC’s 4-day rule.
Specifically, GDP offers enchanced capabilities like:
- Real-time database monitoring to detect potential unauthorized access or abnormal activity as it occurs enables companies to investigate possible incidents promptly.
- Custom audit reports that can provide the required information within a 4-day rolling window, facilitating required SEC filings.
- In-depth forensic tools to pinpoint specific breach details like affected data, user activity, and more. This level of insight improves decision-making.
- Automated file activity monitoring and alerts for atypical access attempts. Rapid detection is key for timely reporting.
- Customizable audit trails and reporting aligned to regulatory needs for streamlined compliance.
While GDP provides the latest compliance-focused capabilities, it also goes beyond basic requirements to drive more holistic security. Multi-layered controls, end-to-end encryption, and other features help minimize breaches proactively.
In essence, GDP allows organizations to comply with emerging regulations while upholding best-in-class security efficiently. By creating an environment optimized for rapid detection, informed response, and transparency, companies can protect sensitive data, demonstrate accountability, and maintain stakeholder trust. Though compliance is the goal, enhanced security and resilience are the more significant outcome.
References
- “SEC Adopts New Cybersecurity Disclosure Requirements for Public Companies.” U.S. Securities and Exchange Commission, 22 December 2023, https://www.sec.gov/news/press-release/2023-139.
- “What’s New in This Release.” IBM Guardium Documentation, IBM, 2023, https://www.ibm.com/docs/en/guardium/12.0?topic=getting-started
- “IBM Guardium.” IBM, 2023, https://www.ibm.com/guardium.