Against the backdrop of the current economic climate, which is marked by increasingly sophisticated investor expectations, listed companies have been placing greater emphasis on their extra-financial performance in their latest half-yearly results. In addition to environmental and social reporting, which have become equally important, cybersecurity is rapidly emerging as a key criterion for a growing number of companies concerned about their long-term viability and attractiveness.
On the other side of the Atlantic, the Securities and Exchange Commission (SEC), responsible for financial regulation in the United States, is accentuating this trend by now requiring listed companies to communicate transparently and publicly not only about the cyber attacks they have suffered, but also about the governance and processes in place to manage cyber risk within an organization. Commenting on the publication of the new cyber requirement, the Chairman of the SEC said: "Whether a company loses a factory in a fire, or a million files in a security incident, it can be important to investors" . This imperative for transparency reinforces the idea that the level of cybersecurity maturity is now firmly anchored at the heart of key indicators required to demonstrate a company's strength and agility.
