• Cyber Security Enters the Boardroom
  • April 13, 2017 | Authors: Philip C. Berg; Evan A. Pilchik; Erik B. Weinick
  • Law Firm: Otterbourg P.C. - New York Office
  • As the consequences of recent, widely publicised data breaches and outright cyber attacks on financial institutions make clear, cyber security has rapidly become a central issue of corporate governance. Boards of directors and senior management of us financial firms can no longer view information security as an IT department-level concern, but must engage directly in matters of information security because of the potential for business and persona l liability. If sound business practice were not reason enough for boards and senior management to become directly vested in cyber security at their firms, us regulators, at both the state and federal level, are now poised to make such involvement mandatory.