

2 The agency highlighted that, given the frequency, magnitude and cost of cybersecurity incidents, issuers must inform investors about material cybersecurity risks and incidents.

Then, in February 2018, the SEC issued formal guidance regarding issuers' cybersecurity disclosure obligations on the heels of rampant ransomware infections 1 and key infrastructure hacks in 2017. In October 2011, the SEC's Division of Corporation Finance issued its views regarding disclosure obligations relating to cybersecurity risks and incidents. In contrast to regulated entities, there are no specific cybersecurity-related disclosure regulations for public companies at this time. SEC Guidance and Rules around Cybersecurity Disclosure While we look forward to unpacking the SEC's cybersecurity activity in the regulated entity space in the coming weeks, this blog's focus is on the SEC's 2021 cybersecurity enforcement activity related to public company issuers and looks ahead to fiscal year (FY) 2022 enforcement. These entities are subject to specific cybersecurity-related obligations, such as Regulation S-P (Safeguards Rule) and Regulation S-ID (Identity Theft Red Flags Rule). Most of the agency's enforcement activity to date has focused on regulated entities such as investment advisers and broker-dealers. Although standalone SEC enforcement actions related to cybersecurity risks and disclosures remain a small fraction of the Enforcement Division's overall filed actions, enforcement trends and proposed rulemaking point toward heightened activity in the space in the years to come. As the risks – and realities – of cyberattacks increase around the world, the SEC continues to prioritize cybersecurity for the Divisions of Examinations and Enforcement. Not only are its rewards very real, but so are its dangers.Ĭhange is coming to a long stagnant world -a virtual revolution- and everything Ethan knows will be threatened.We continue our year-end review of SEC enforcement activity and turn our attention to a topic grabbing seemingly daily headlines across multiple industries: cybersecurity. Inside, the combat is intense, but nothing is as it seems. Thousands of players are lured into climbing the Tower of Ascension by an incredible prize. That feeling becomes inescapable when he starts playing the latest event in the world’s most popular VR game, Worldshift. It reaps the benefit of advanced automation, but forbids further scientific development.

Yet, despite his isolation, Ethan can’t help but feel that something is deeply wrong with society. Online, he can chase thrills and lash out without consequence. However, thanks to the economic support everyone gets, he can spend his idle days playing virtual reality games. One of the many who fail to find a job and join the elite who run the government and the mega corporations. Robots, virtual reality, and the end of civilization collide in this action-packed book that combines the best of litrpg and complex sci-fiĮthan is young and unemployed.
