SEC Commissioner Calls on Corporate Boards to Address Cybersecurity—Refers to NIST Cyber Framework as “the Bible”

While attending the "Cyber Risks and the Boardroom" Conference at the New York Stock Exchange on Tuesday, June 10, 2014, U.S. Securities and Exchange Commissioner Luis Aguilar called on corporate boards to make sure they are taking the necessary steps to address and oversee their companies’ cybersecurity risks. In a prepared statement, he said that ensuring the adequacy of a firm’s cybersecurity measures “needs to be a critical part of a board of directors’ risk oversight responsibilities.” He said that “(e)ffective board oversight of management’s efforts to address these issues is critical to preventing and effectively responding to successful cyber-attacks and, ultimately, to protecting companies and their consumers, as well as protecting investors and the integrity of the capital markets.” CONTINUE READING ...   Please contact Christin McMeley with any inquiries at 202.973.4264.