October 12, 2023
Glass Lewis Highlights Cybersecurity Rating in Proxy Papers
In a new whitepaper, “The SEC’s New Cybersecurity Regulations: What Investors and Shareholders Should Know” (available for download), Glass Lewis discusses how shareholders can leverage newly required disclosures to assess the cybersecurity of companies they invest in and use that information in investment and engagement strategies. Noting that many investors don’t have significant expertise in cybersecurity risk, Glass Lewis touts its partnership with Bitsight to provide insight into each company’s level of cyber risk exposure.
As explained in the paper, Bitsight uses cybersecurity data that it collects “continuously and non-intrusively” to create “quantitative, objective ratings and analytics that are similar to credit scores and updated daily.” Here’s how Glass Lewis is already sharing this information with its clients:
Glass Lewis Proxy Papers feature a point in time snapshot of a public company’s cybersecurity performance, pulled directly from the Bitsight platform. The report features the company’s overall Bitsight Security Rating and how the organization benchmarks against its peers, the organization’s performance over the last 12 months, the likelihood of ransomware incidents, the likelihood of data breach incidents, and any publicly disclosed incidents in the last 18 months.
– Meredith Ervine