Nasdaq White Paper Highlights Cyber Preparedness Protocols for Boards

In a White Paper from the Nasdaq Center for Board Excellence titled “Navigating the Cybersecurity Disclosure Conundrum” the authors highlight the major challenges in cybersecurity oversight, including where to draw the line between management’s role and the board’s role. The paper notes that while this line can be difficult to draw, the board should understand the policies and procedures that are in place before a cybersecurity event occurs. The paper includes a checklist to help directors prepare and understand the entity’s policies, including:

• What are the cyber incident disclosure escalation thresholds and who on the board will be notified?
• Are third parties contractually obligated to report cybersecurity incidents to the organization?
• Is there training on cyber awareness at all levels of the organization (including third parties)?

Click here to view the Nasdaq Center for Board Excellence white paper on Cybersecurity.