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What Action Should A Company Take If Nonpublic Information Is Inappropriately Exposed On Its Network?

Answer»

If nonpublic information is inappropriately DISCLOSED on your network, you must rapidly execute a response program to identify the extent of the exposure, assess the EFFECT on the corporation and its customers, and notify all affected parties.

Section 409 of Sarbanes-Oxley mandates that companies publicly disclose additional information concerning material changes in the company's financial condition or operations. While Sarbanes-Oxley contains many REPORTING requirements, real-time identification of material changes and disclosures (the consensus being 48 hours) is the most SIGNIFICANT challenge.

If nonpublic information is inappropriately disclosed on your network, you must rapidly execute a response program to identify the extent of the exposure, assess the effect on the corporation and its customers, and notify all affected parties.

Section 409 of Sarbanes-Oxley mandates that companies publicly disclose additional information concerning material changes in the company's financial condition or operations. While Sarbanes-Oxley contains many reporting requirements, real-time identification of material changes and disclosures (the consensus being 48 hours) is the most significant challenge.



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