The Potent Role of Trial Attorneys in Cyber Security Regulation
Much of the cyber security community is focused on pending cyber legislation and the forthcoming Executive Order to be issued by the Administration.
Without a doubt the aforementioned actions are on the cutting edge of a new and massive federal regulatory program. Furthermore the actions being taken by a number of firms whose IT network are part of the US “critical infrastructure” are commendable in that they are reducing the risk of losing intellectual property and are also reducing the risk of substantial economic disruption.
Less obvious and more imminent is the rapidly emerging role of trial attorneys abetted by “guidance” issued by the SEC in which an agency spokesman stated:
“This year, the SEC sent dozens of letters to some companies, asking about cybersecurity disclosures and later pushing companies to disclose.”
See the following posts which describe the actions of the trial attorneys:
Corporate America Is Ignoring the Cybercrime Alarm
