TTS Tech Talk - January 2024 HOW CAN YOUR BUSINESS BE IMPACTED BY THE NEW SEC CYBERSECURITY REQUIREMENTS?

HOW CAN YOUR BUSINESS BE IMPACTED BY THE NEW SEC

CYBERSECURITY REQUIREMENTS?

Reporting of Cybersecurity Incidents

The first rule is the disclosure of cyber-security incidents deemed to be “material.” Companies disclose these on a new item 1.05 of Form 8-K.

Companies have a time limit for disclosure. This is within four days of the determination that an incident is material. The company should disclose the nature, scope, and timing of the impact. It also must include the material impact of the breach. One exception to the rule is where disclosure poses a national safety or security risk.

Disclosure of Cybersecurity Protocols

This rule requires extra information that companies must report. They report this on their annual Form 10-K filing.

The extra information companies must disclose includes:

· Their processes for assessing, identifying, and managing material risks from cyber-security threats.

· Risks from cyber threats that have or are likely to materially affect the company.

· The board of directors’ oversight of cybersecurity risks.

· Management’s role and expertise in assessing and managing cybersecurity threats.

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POTENTIAL IMPACT ON YOUR BUSINESS

Here are some of the potential areas of impact on businesses from these new SEC rules.

1. Increased Compliance Burden – Businesses will now face an increased compliance burden as they work to align their cybersecurity policies with the new SEC requirements.

2. Focus on Incident Response – The new regulations underscore the importance of incident response plans. Businesses will need to invest in robust protocols. These are protocols to detect, respond to, and recover from cybersecurity incidents promptly. This includes having clear procedures for notifying regulatory authorities, customers, and stakeholders.

3. Heightened Emphasis on Vendor Management – Companies often rely on thirdparty vendors for various services. The SEC’s new rules emphasize the need for businesses to assess vendor practices. Meaning, how vendors handle cyber-security. This shift in focus necessitates a comprehensive review.

4. Impact on Investor Confidence – Cybersecurity breaches can erode? investor confidence and damage a company’s reputation. With the SEC’s spotlight on cybersecurity, investors are likely to take note. This includes scrutinizing businesses’ security measures more closely. Companies with robust? cybersecurity programs may instill greater confidence among investors.

5. Innovation in Cybersecurity Technologies – As businesses strive to meet the new SEC requirements, they will seek innovation. There is bound to be a surge in the demand for advanced cyber-security solutions. This increased demand could foster a wave of innovation in the cyber-security sector.

BEWARE OF THESE 2024 EMERGING TECHNOLOGY THREATS

Technology is reshaping the world of work at an unprecedented pace. From artificial intelligence to web3, from the metaverse to the hybrid work model. We are witnessing a series of technological revolutions. They are transforming how we communicate, collaborate, create, and innovate.

?Let’s explore some of the most impactful technology trends that are changing the way we work in 2024 and beyond.?

·? Artificial Intelligence

·? Remote Collaboration Tools

·? Hybrid Work Model

·? Web3: The Decentralized Internet

·? Internet of Things (IoT) in the Workplace

·? Augmented Reality (AR) and Virtual Reality (VR)

·? Cybersecurity Advancements

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These transformative technology trends are not just fleeting novelties. They are shaping the future of work.

14 HELPFUL TIPS FOR NEW YEAR DIGITAL

DECLUTTERING

These days, it’s easy to feel overwhelmed at the sight of an endless inbox or app library.?

As the new year begins, it’s the perfect time for a digital declutter. A clean and organized digital environment can help you improve your productivity. It also reduces stress. Here are some practical tips to help you declutter your digital space.

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·? Start with a digital inventory

·? Focus on your most-used digital spaces

·? Organize your files and folders

·? Clean up your email inbox

·? Clean up your social media

·? Review your subscriptions

·? Review and delete unused apps

·? Clear your desktop and downloads folder

·? Secure your digital identity

·? Evaluate your digital habits

·? Create digital detox days

·? Streamline notifications

·? Invest in digital tools

·? Practice regular maintenance