In light of the increasing rate of security breaches in industry and government, the US Securities and Exchange Commission (SEC) has issued guidelines encouraging public companies to disclose cyberattacks waged against them. The guidelines apply to both domestic US companies and foreign private issuers, and may therefore apply to Canadian companies registered in the US.
What types of disclosure are required?
A company is obligated to disclose material information relating to risks (e.g., a security system failure) and incidents (e.g., a security breach) if necessary to avoid misleading investors in light of other required disclosures.
When is disclosure required?
In … Continue Reading
Early this year, Australia introduced a new set of consumer protection laws that should be of significant interest to any consumer-facing company with operations in Australia, especially given the government’s diligent efforts to inform consumers of their rights and how to exercise them.
The Australian Consumer Law (CPL), which is in fact a schedule to the Competition and Consumer Act 2010, is a large consolidation of what was previously a disparate set of 20 or so acts and regulations dealing with consumer protection.
In this post, I provide a non-exhaustive list of CPL issues that I have encountered recently … Continue Reading