In an article for Bloomberg Law, litigation & enforcement partner Amy Jane Longo discussed the implications of the SEC’s increased focus on cybersecurity and its decision to charge R.R. Donnelley & Sons with accounting violations.
“In a way [the decision] suggests that even if you get the disclosure right, the SEC enforcement may be focused on the underlying process, even where it doesn’t take issue with the ultimate output,” said Amy Jane Longo, a Ropes & Gray LLP partner and former SEC attorney.
R.R. Donnelley agreed last month to pay $2.1 million to settle Securities and Exchange Commission charges that the marketing and printing company violated disclosure and internal accounting control rules stemming from a 2021 cybersecurity breach. The settlement comes amid heightened SEC focus on cybersecurity and changes to the agencies accounting control rules.
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find out more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.