In the wake of high-profile cyberattacks, boards of directors are increasingly being scrutinized by regulators, shareholders, and the public over their oversight of cybersecurity risk. In a chapter of "Navigating the Digital Age: The Definitive Cybersecurity Guide for Directors and Officers" – a first-of-its kind publication by the New York Stock Exchange – we explore the legal obligations of boards of directors and board members to oversee cybersecurity risk, the potential exposure that boards face in the current cybersecurity landscape if they do not meet those obligations, and strategies that boards may consider in mitigating that risk to strengthen the corporation and their standing as dutiful directors.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.