![]() ![]() ![]() Since breaches will happen, and will eventually become known and trigger an investigation, requiring immediate disclosure will both enable user victims to take immediate action to safeguard themselves, and force the covered entities into being able to prove conformance with the regulations when investigated. Required breach disclosure can go a long way toward solving this. Third party auditing is expensive, resource consuming and not often required by regulations – but this means that ensuring conformance is difficult. securities markets.”ĭisclosure requirements are critical for any set of regulations. Specifically, it announced, “New public disclosure requirements for Covered Entities would improve transparency about the cybersecurity risks that can cause adverse impacts to the U.S. On March 15, 2023, the SEC announced a proposal for new cybersecurity requirements for covered entities. ![]() If you combine the FTC requirements and the SEC’s proposal, you begin to the beginning of a federal cybersecurity strategy in action. Both companies can be described as healthcare firms that fall outside of HIPAA requirements. A federal data protection and privacy law is an almost impossible task in partisan times, but harmonized regulations across the sectors under the aegis of the federal administration will effectively combine into a nationwide cybersecurity regulation.Ĭonsider, for example, the FTC’s recent privacy actions against BetterHelp (March 2023) and GoodRX (February 2023). ![]() On March 15, the SEC resurrected its own cybersecurity proposals. The Strategy is, however, a wish list rather than a directive. ‘Harmonized regulations’ is a key component of this strategy. President Biden’s National Cybersecurity Strategy was announced on March 1, 2023. ![]()
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