Jamil Farshchi, CISO at Equifax, discusses the new SEC rules for cybersecurity and their implications for CISOs. They explore the potential effects on cybersecurity, the importance of transparency and measuring risk, and the need for bidirectional context between cybersecurity and the business stakeholders.
The new cyber rules issued by the SEC will lead to more companies appointing CISOs, providing reasonable cyber budgets, and allowing for more time to address cyber risks.
The SEC rules emphasize the need for transparency in measuring cyber risk maturity, fostering better communication between CISOs, boards, and executives.
Deep dives
The significance of the SEC cyber rules for CSOs
The new cyber rules issued by the Securities and Exchange Commission (SEC) in the United States will have a positive impact on Chief Security Officers (CSOs) and improve overall cyber security posture. The rules will lead to more companies appointing CISOs, providing reasonable cyber budgets, and allowing for more time to address cyber risks. Despite not being cause for celebration, the rules provide guidance on the path to risk maturity and are timely in addressing cyber security challenges.
The importance of transparency and measurement of cyber risk
The SEC rules emphasize the need for transparency in measuring cyber risk maturity. The guidance provided acknowledges the industry's ability to measure risk and promotes progress in the right direction. The rules are seen as a positive step towards achieving better communication between CISOs, boards, and executives, and fostering a greater focus on security within organizations.
Benefits and considerations of the SEC rules
The implementation of the SEC cyber rules is expected to bring about benefits for both investors and the cybersecurity community. The enhanced transparency and insight into cyber maturity will help investors make informed decisions about organizations they may invest in. While some concerns have been raised about their impact on CISO candidates and compliance efforts, the rules are generally viewed as a positive change that will raise the bar for cyber risk management.
Potential future developments and impact beyond the SEC
The release of the SEC rules may pave the way for similar regulations globally, as organizations worldwide adopt cybersecurity requirements influenced by the SEC guidelines. Additionally, there may be future developments in areas such as third-party risk management and a push for clear cyber risk profiles from suppliers and beyond, further advancing the industry's security practices.
All links and images for this episode can be found on CISO Series.
The Securities and Exchange Commission issued new cyber rules. What do these new rules mean for CISOs and will they ultimately improve our cybersecurity posture?
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In this episode:
The Securities and Exchange Commission issued new cyber rules.
What do these new rules mean for CISOs and will they ultimately improve our cybersecurity posture?
Are these rules something to celebrate, or are they just going to make a CISOs compliance efforts even more difficult?
For those companies who actually follow the guidance, will this step up their cyber game considerably?
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