Ten Legal Issues: SEC Disclosures
summary
Covers ten concrete compliance points: the SEC’s item 1.05 forces disclosure of material aspects — nature, scope, timing — plus financial/operational impact; materiality means whether a reasonable investor would find the fact important. After a materiality determination a company files an 8‑K within four days and must decide “without unreasonable delay.” Enforcement options include injunction, disgorgement, officer/director bans and fines ($5k–$100k individual, $50k–$500k org per violation); include CFO, legal and security on a documented materiality team, tabletop and preserve records.
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chapters (14)
- 0:00SEC disclosure legal issues
- 1:26SEC disclosure laws history
- 2:30Cybersecurity incident disclosures
- 9:27Timing of SEC cybersecurity disclosures
- 13:22Third-party breach disclosures
- 17:19SEC enforcement for non-disclosure
- 21:56Disclosure consequences
- 26:44Internal vs public statements
- 30:19Materiality determination team
- 34:58SEC whistleblower protections
- 38:07SEC disclosure compliance
- 41:18Foreign subsidiary incident reporting
- 44:08Misconfigured systems disclosures
- 46:54SEC compliance takeaways
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