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DDN Launches Masterclass For Determining Cybersecurity Incident Materiality Under The New SEC Rules

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The leader in digital and cybersecurity governance to teach boards and management teams how to apply the SEC disclosure rules for cyber incident materiality.

Applying an informed and deliberative process for determining cyber incident materiality will reduce cyber and litigation risk and serve shareholders well.”
— Bob Zukis, DDN Founder and CEO
MANHATTAN BEACH, CA, USA, February 16, 2024 / -- The SEC has imposed new disclosure rules on SEC registrants for cybersecurity incidents and risk. Digital Directors Network (DDN), the world's leader in advancing the practice and profession of digital and cybersecurity governance has developed a masterclass to help management teams and boards make a materiality determination for cybersecurity incidents under the new SEC disclosure rules.

"The SEC left the details for how to make this determination up to each management team, as is common for them," explained Jerry Nowicki DDN Advisory Board member and former corporate director. "What the SEC expects is that companies apply an informed and deliberative process in making their cybersecurity incident disclosure decision. DDN has developed a process for this and is teaching management teams how to implement this reliable, consistent and effective approach to meet the requirements of the new cybersecurity incident disclosure rules. Having a structured and consistent approach will also help with cyber risk reduction, potential litigation and of course serve shareholders well," he added.

Based upon input from CISOs, CIOs, corporate directors, lawyers and other experts, DDN has developed the BRFO process for making this determination. BRFO is a structured process that analyzes the incident's systemic BLAST RADIUS (BR) and FALLOUT (FO) from a value and stakeholder perspective. Reflecting DDN's leading work in developing a structured approach for identifying systemic cyber risk in complex digital business systems, the BRFO process not only fulfills the SEC's expectations for cybersecurity incident materiality disclosure, but applying the BRFO process will help companies and boards mature their understanding, management and mitigations of the far-reaching risks that they face from cybersecurity incidents.

A masterclass on adopting and applying the BRFO process with lectures, case studies and Q&A will be held at DOMINO 24 — DDN's annual digital and cybersecurity governance boardroom learning event. DOMINO 24 is being held May 15-16, 2024 at The University of Chicago Booth School of Business. Enrollment for DOMINO 24 is now open, and attendees will earn 12 CPD hours of executive education.

Private online workshops and tabletops for determining cybersecurity incident materiality can also be arranged for management teams, disclosure committees and boards. Online open enrollment classes for the workshop will also launch shortly.

"DDN excels at taking these abstract concepts and making sense out of them with frameworks and tools that boards, CISOs and management teams can understand and implement. Strengthening the boardroom is one of the key controls against the challenges and risks related to cybersecurity and DDN continues to lead the way in moving these issues forward," commented corporate director, and former F50 CISO Joanna Burkey.

DDN is the leading boardroom network focused exclusively on advancing the practice and profession of digital and cybersecurity risk oversight. Helping boards around the world shape and secure their company's futures, DDN has over 1,500 director, IT and cybersecurity executive members. Over 500 of them have completed the highly acclaimed QTE 501 Boardroom Masterclass for IT and Cybersecurity Executives to prepare themselves for boardroom service. With the largest curated network of boardroom ready and experienced IT and cybersecurity leaders and directors in the world, DDN is pleased to introduce it's members to leading boards strengthening their boardrooms with digital and cyber expertise.

Bob Zukis
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