The Securities and Exchange Commission has adopted rules requiring registrants to disclose material cybersecurity incidents they experience and to disclose on an annual basis material information regarding their cybersecurity risk management, strategy, and governance. The Commission also adopted rules requiring foreign private issuers to make comparable disclosures. The rules potentially will affect automakers’ use of customer data regarding how they gather it and keep it secure. Data breaches are an ongoing problem in the auto industry that will now become public. (AutoInformed: Hack Attacks – Connected Vehicle Cyber Security Lags; Do No Harm – Center for Auto Safety Drafts AV Bill of Rights; FBI with a Tesla Employee’s Help Stops Malware Attack)
“Whether a company loses a factory in a fire — or millions of files in a cybersecurity incident — it may be material to investors,” said SEC Chair Gary Gensler. “Currently, many public companies provide cybersecurity disclosure to investors. I think companies and investors alike, however, would benefit if this disclosure were made in a more consistent, comparable, and decision-useful way. Through helping to ensure that companies disclose material cybersecurity information, today’s rules will benefit investors, companies, and the markets connecting them.” Continue reading
Old Curiosities Found During Sunbeam LSR Restoration
Click for more nostalgia.
National Motor Museum mechanics in the UK have found a couple of curiosities during the beginning of the restoration of Land Speed Record breaker Sunbeam 1000hp, the NMM said today. A 1920s wooden handle screwdriver, which was used by one of the original mechanics before Major Henry Segrave broke the 200-mph record, had been dropped into the filler neck of its engine oil tank while he checked the levels – and stayed inside for almost a century.
You might say it ran like the Dickens…with no word on Little Nell. However, that phrase had nothing to do with the beloved novelist who wrote the Old Curiosity Shop. A preserved shilling with a 1921 date was found in solidified oil on top of the rear suspension spring when bodywork was taken off to expose the chassis. An adjustable spanner from the time of its landmark run was also uncovered, after being similarly ‘glued’ to the chassis with vegetable-based Castrol R oil. Continue reading →