Inside Track: SEC's SolarWinds Lawsuit Offers Myriad Lessons, Most of Them Unsettling
CISOs must "take stock of their security programs and ensure that what's being communicated to the public is rooted in reality rather than spin or wishful thinking," said Jake Williams, a former U.S. National Security Agency hacker.
November 02, 2023 at 10:21 PM
6 minute read
RegulationThe original version of this story was published on Law.com
Corporate attorneys see myriad lessons from the Securities and Exchange Commission's decision to sue SolarWinds and its security chief, Tim Brown, over a colossal 2019-2020 data breach.
But one of those lessons is not that the SEC is going to Monday morning quarterback how companies handle every run-of-the-mill hack, essentially rubbing salt in the wound by micro-analyzing how a firm protected itself and how it managed every twist and turn of the response.
For regulators to get involved, allegedly egregious behavior is required, say the attorneys, whose views are shaped partly by the very direct guidance provided by top agency enforcement officials.
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