New SEC Rules: Cybersecurity Impacts to Know

Data Protection

The SEC is introducing revised regulations for public corporations, mandating the prompt disclosure of significant cyber incidents within four working days and a thorough overview of their security governance plan. The aim of these rules is to prioritize the importance of cybersecurity in terms of its business value and to encourage investment in adequate security measures. CISOs will play a crucial role in communicating the impact of cyber attacks to the board and demonstrating their efforts to minimize risk. They will be evaluated on their ability to safeguard their company’s infrastructure and data, which is the primary target of cybercriminals.

A modern data security strategy starts with complete data visibility, context, and control. BigID gives organizations a data-centric approach to security by proactively finding, managing, and protecting their most sensitive and valuable data to mitigate unwanted exposure and use.

Here are the ways BigID can help you prepare and meet the upcoming SEC cybersecurity rules and requirements:

Cybersecurity & Risk Reporting

As our 2023 cybersecurity predictions suggest, CISOs and security leaders must be able to communicate the value of their security and risk management strategy. In order to do this, you must have adequate reporting that’s easy to understand, customizable to your needs, and available at your fingertips. BigID offers a variety of on-demand dashboards and reports that help clearly communicate the state of data security and risk compliance at any given time.

Be ready for the SEC with BigID’s Executive Risk Report. This automated, on-demand report provides essential insights into your data at risk. It’s a plain-language summary perfect for the board of directors and other management stakeholders, providing a clear understanding of your data risk posture. Monitor progress and assess BigID’s impact on risk reduction initiatives with continual tracking of key metrics.

Maximize the impact of your data security initiatives. Data Insights Studio (DIS) empowers you to design custom, actionable reports to closely monitor relevant metrics. Close the gap between insight and action – DIS gives you the agility to make quick, informed decisions about your data. Get the tailored reporting your organization needs and take control and mitigate risk.

Furthermore, Sensitivity Hotspot Reporting gives you the power to identify, prioritize, and remediate your riskiest data through rich data sensitivity visualization and reporting. Work faster, reduce data risk, and always be on top of your data remediation efforts to mitigate unwanted data exposure.

Understanding & Communicating Cyber Incidents

With these new mandates, organizations must disclose any significant cybersecurity incidents within four days. Security leaders need to be armed with the proper investigation and forensics capabilities to understand the extent of any potential cyber incident.

Uncover the truth about data incidents with BigID’s Breach Investigation App. Quickly find out which data and users were impacted by a possible incident by comparing your own data with breached data sets, such as from the dark web. Identify the extent of the breach and act fast to mitigate any impact on your business and on those affected. Stay ahead of the game and meet SEC compliance and geo-specific notification deadlines.

Governance & Risk Management

Data governance is a core tenet of a sound data security strategy. Proper data governance serves as a baseline to better secure where your sensitive data lives, how long it’s there for, and who can access it. BigID’s platform for data visibility and control brings data security and governance together to streamline and automate the way you manage and protect your data.

Create and enforce data management and security policies, including retention, minimization, and access management policies. When policies are triggered, kickoff workflows and streamline the way you enable the right people to take the right action on the right data. Validate the need to retain or discard data, and automatically carry out remediation actions using the proper tool of choice. Govern your data like security depends on it.

BigID helps organizations of all sizes manage, protect, and get more value out of their data anywhere it exists — on-prem or in the cloud. Get ahead of the coming SEC mandates and improve the way you monitor and report on your data security and risk posture.

Get a 1:1 demo to see it in action today!