Other Authors Chris Hetner, Senior Cybersecurity Advisor, CISO | Kim Manibusan, Head of Cyber Strategy, ISS Corporate Solutions | Meredith Griffanti, Senior Managing Director, FTI Consulting

With the cybersecurity landscape evolving ever more rapidly, and the threats to businesses' critical information and assets—as well as to their bottom lines—are only increasing. Breaches continue to grow in scale and sophistication, regulators are crowding the field with an expanding and shifting array of requirements and de facto standards, and litigation remains perilous. Now, more than ever, businesses must think strategically about the cyber threats they face—whether to consumer or employee information, intellectual property or product safety—and take practical steps to address the associated legal, business and reputational risks.

Data privacy & security have gone from legal issues to business issues. The issues have gone from compliance to business because they are impacting revenue. This year, data privacy caused NASDAQ-listed companies to lose 1.4 trillion dollars in market cap in 2022. Last year, cybersecurity cost our global economy over 6 trillion dollars. If data privacy and cybersecurity represented the GDP of one country, they would amount to the third largest GDP in the world, behind the US and China. With headlines featuring data breaches, technology and privacy whistleblowers, regulators are looking to the C-Suite and the Boardroom to demonstrate leadership that will promote innovation and consumer trust.

Learning objectives
This program will help you:

  • Learn how regulators are focusing on the C-Suite and boardroom leaders in terms of their oversight of privacy and data security.
  • Understand how boards are receiving business and financial contextualized metrics.
  • Understand how proxy companies like ISS are scoring privacy/cyber maturity under the governance prong of ESG.
  • Appreciate how to prepare the C-Suite and boardroom for communications before governmental bodies, like the CEO of Colonial Pipeline's congressional testimony.

Visit us at mayerbrown.com

Mayer Brown is a global legal services provider comprising legal practices that are separate entities (the "Mayer Brown Practices"). The Mayer Brown Practices are: Mayer Brown LLP and Mayer Brown Europe - Brussels LLP, both limited liability partnerships established in Illinois USA; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales (authorized and regulated by the Solicitors Regulation Authority and registered in England and Wales number OC 303359); Mayer Brown, a SELAS established in France; Mayer Brown JSM, a Hong Kong partnership and its associated entities in Asia; and Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. "Mayer Brown" and the Mayer Brown logo are the trademarks of the Mayer Brown Practices in their respective jurisdictions.

© Copyright 2020. The Mayer Brown Practices. All rights reserved.

This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.