SEC Turning Up the Heat: SolarWinds and Its CISO Charged with Fraud Regarding Cyber-related Disclosures

Key Takeaways – With the SolarWinds enforcement action, the SEC continues to ratchet up its enforcement against companies that fail to properly disclose their cybersecurity incidents and risks. By naming the SolarWinds CISO as a defendant, the SEC is reaching further down the executive chain of command than normally is the case and seeking individual liability against a corporate technical expert to send a stronger deterrent message….
By: Akin Gump Strauss Hauer & Feld LLP