Is Your Board Prepared for New Cybersecurity Regulations?

Boards are now paying attention to the need to participate in cybersecurity oversight. Not only are the consequences sparking concern, but the new regulations are upping the ante and changing the game.

Boards have a particularly important role to ensure appropriate management of cyber risk as part of their fiduciary and oversight role. As cyber threats increase and companies worldwide bolster their cybersecurity budgets, the regulatory community, including the SEC, is advancing new requirements companies will need to know about as they reinforce their cyber strategy.

Most organizations we’ve studied focus on cyber protection rather than cyber resilience, and we believe that is a mistake. Resiliency is more than just protection; it’s a plan for recovery and business continuation. Being resilient means that you’ve done as much as you can to protect and detect a cyber incident, and you’ve also done as much as you can to make sure you can continue to operate…

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This article was written by Dr. Keri Pearlson and originally published on hbr.org