On May 22, 2024, the Director of the Division of Corporation Finance (“Corp Fin”) of the Securities and Exchange Commission (“SEC”) issued further guidance regarding disclosure of cybersecurity incidents on Form 8-K. The statement builds upon and provides additional clarity to companies seeking to comply with the SEC’s 2023 cybersecurity rules, which require public […]
Cybersecurity
LockBit Takedown Indicates Shifting DOJ Cyber Strategy and Has Implications for Ransomware Victims
On May 7, 2024, the United States unsealed an indictment against Dmitry Yuryevich Khoroshev, one of the leaders of the Russian-based ransomware group LockBit, for his alleged involvement in developing and distributing the LockBit ransomware. According to the indictment, Khoroshev performed both administrative and operational roles for the cybercrime group, including upgrading the LockBit infrastructure, […]
NIST Cybersecurity Framework 2.0 Prioritizes Governance and Flexibility
Earlier this year, the National Institute of Standards and Technology (NIST) issued an update to its Cybersecurity Framework (CSF) with the release of version 2.0, the first update since April 2018 (version 1.1). While the core components of CSF remain, there are two thematic changes: CSF 2.0 (1) no longer applies just to critical infrastructure […]
CISA Posts Notice of Proposed Rulemaking Under CIRCIA
On March 27, 2024, the Cybersecurity and Infrastructure Security Agency (CISA) published a notice of proposed rulemaking (NPRM) implementing the Cyber Incident Reporting for Critical Infrastructure Act (CIRCIA). For additional background on CIRCIA, see our prior advisory. CISA is required to issue a final rule by October 4, 2025. Who is required to report covered […]
FBI and CISA Warn of Chinese Cyberattacks on U.S. Critical Infrastructure
Recently, there has been a surge in alerts and warnings concerning cyberattacks by People’s Republic of China (PRC) state-sponsored threat actors on U.S. critical infrastructure. On February 7, 2024, the Federal Bureau of Investigation (FBI) and the Cybersecurity and Infrastructure Security Agency (CISA), along with the National Security Agency and their counterparts in Australia, Canada, […]