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Board of Directors – Responsibility for Cyber Risk

Incident Response – Executive Awareness.

A post on the Fredrikson & Byron law firm’s website identified: 4 Legal Considerations to Help Directors Manage Cyber Risk (Evan C. Berquist, September 2015).

Summary

“The United States Court of Appeals for the Third Circuit held that the Federal Trade Commission (FTC) has authority under Section 5 of the FTC Act to regulate cybersecurity.”

“The opinion is the latest development in a legal drama that began after Wyndham Worldwide Corp. (Wyndham) suffered three data breaches between 2008 and 2009. The breaches resulted in the improper disclosure of the personal information of more than 610,000 Wyndham customers.”

“The Wyndham litigation has underscored at least two significant new developments in cybersecurity: First: directors can be held individually liable for their failure to adequately manage cyber risks; and Second: government regulators, including the FTC, the Securities and Exchange Commission (SEC), among others, are making cybersecurity an increasingly important enforcement priority. And courts are ratifying the agencies’ broad assertion of regulatory authority.”

The article is available at: http://www.fredlaw.com/news__media/2015/09/09/995/4_key_legal_considerations_to_help_directors_manage_cyber_risks

Cyber Incident Response – Executive Awareness

Raising executive awareness on the importance of incident response planning should raise executive support. This is one in a series of references that serve as tools for engaging your executives and gaining their support.

The full collection of references is available at this link:

http://coordinatedresponse.com/topics/incident-response-plan/executive-awareness/