{"id":88628,"date":"2024-06-26T02:09:25","date_gmt":"2024-06-26T06:09:25","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=88628"},"modified":"2024-06-26T02:09:25","modified_gmt":"2024-06-26T06:09:25","slug":"sec-charges-r-r-donnelley-sons-co-with-cybersecurity-related-controls-violations","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2024\/sec-charges-r-r-donnelley-sons-co-with-cybersecurity-related-controls-violations.html","title":{"rendered":"SEC Charges R.R. Donnelley &#038; Sons Co. with Cybersecurity-Related Controls Violations"},"content":{"rendered":"\n<p>(HedgeCo.Net) The Securities and Exchange Commission as announced that R.R. Donnelley &amp; Sons Company <strong>(RRD),<\/strong> a global provider of business communication and marketing services, agreed to pay over <strong>$2.1 million<\/strong> to settle disclosure and internal control failure charges relating to cybersecurity incidents and alerts in late 2021.<\/p>\n\n\n\n<p>\u201cThe Commission instituted this enforcement action because RRD\u2019s controls for elevating cybersecurity incidents to its management and protecting company assets from cyberattacks were insufficient,\u201d said Jorge G. Tenreiro, Acting Chief of the Crypto Assets and Cyber Unit. \u201cRRD did, however, cooperate with our investigation in a meaningful way, and that is reflected in the terms of this settlement.\u201d<\/p>\n\n\n\n<p>According to the SEC\u2019s order, data integrity and confidentiality were critically important to RRD\u2019s business. Because client data was stored on RRD\u2019s network, its information security personnel and the third-party service provider RRD hired were responsible for monitoring the network\u2019s security. However, according to the order, RRD failed to design effective disclosure controls and procedures to report relevant cybersecurity information to management with the responsibility for making disclosure decisions, and failed to carefully assess and respond to alerts of unusual activity in a timely manner. The order further finds that RRD failed to devise and maintain a system of cybersecurity-related internal accounting controls sufficient to provide reasonable assurances that access to RRD\u2019s assets \u2013 its information technology systems and networks \u2013 was permitted only with management\u2019s authorization.<\/p>\n\n\n\n<p>The SEC\u2019s order found that RRD violated Section 13(b)(2)(B) of the Securities Exchange Act of 1934 and Exchange Act Rule 13a-15a. Without admitting or denying the SEC\u2019s findings, RRD agreed to cease and desist from committing violations of these provisions and to pay a $2,125,000 civil penalty. As described in the order, RRD cooperated throughout the investigation, including by reporting the cybersecurity incident to staff prior to filing a disclosure of the incident, by providing meaningful cooperation that helped expedite the staff\u2019s investigation, and by voluntarily adopting new cybersecurity technology and controls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) The Securities and Exchange Commission as announced that R.R. Donnelley &amp; Sons Company (RRD), a global provider of business communication and marketing services, agreed to pay over $2.1 million to settle disclosure and internal control failure charges relating to [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048,16047],"tags":[],"class_list":["post-88628","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news","category-insider-trading-2"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/88628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=88628"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/88628\/revisions"}],"predecessor-version":[{"id":88629,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/88628\/revisions\/88629"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=88628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=88628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=88628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}