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On June 28, 2018, the Securities and Exchange Commission (SEC) voted to amend the definition of “smaller reporting company” to allow more companies to use the scaled disclosure requirements available to smaller reporting companies. This expansion is estimated to increase the number of companies that qualify for smaller reporting company status by nearly 1,000.
Cybersecurity is emerging as one of the most significant and potentially dangerous risk areas facing financial institutions. As federal and state regulators continue to pepper financial institutions with new regulations, tools, and guidance, many institutions are struggling to create and maintain an effective cybersecurity risk management policy or program. To manage cybersecurity risk, companies must start by anticipating and preparing for the danger.
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