FAQs on the New SEC Rules on Public Company Cybersecurity Disclosures

On July 26, 2023, the Securities and Exchange Commission (SEC) in a 3-to-2 vote, adopted final rules requiring the disclosure of material cybersecurity incidents and cybersecurity risk management, strategy, and governance by public companies, including foreign private issuers. As the rules have now been published in the Federal Register and are set to go effective on September 5, 2023, set forth below are some FAQs on the new rules to help answer some common questions.