SolarWinds and its CISO Timothy Brown are facing serious charges in connection with the catastrophic security breach of 2020, with the SEC alleging that he had knowingly ignored and downplayed serious security risks since at least 2018.
This appears to be the first time that the SEC has sent a Wells Notice to a CISO. While novel, this Wells Notice furthers the SEC’s recent enforcement and rulemaking focus on meaningful and timely cybersecurity-related disclosures, as well as holding individual liable for their roles in company violations.
Microsoft detected a second hacking team targeting Orion software and running its campaign parallel to the Russian hacking group; SolarWinds acknowledges the threat.
