In light of the ever-expanding role of digital technology in daily life, along with a string of recent high-profile cyberattacks, it is fitting that the Securities and Exchange Commission (“SEC”) has included cybersecurity risks on their 2021 regulatory agenda. The SEC last provided cybersecurity guidance in 2018, though critics argue that the 2018 Guidance was insufficient and merely reiterated the SEC’s formal guidance from 2011.  However, given recent executive-branch interest in cybersecurity issues, it is predicted that cybersecurity rules set forth in 2021 will offer more actionable and concrete protective measures for investors. 
As a vast swath of sensitive, personal data is shared in the digital space, and as businesses and the government rely increasingly on complex computing systems to maintain their operations, cyber risks have multiplied exponentially. Cyber attackers target sensitive personal data in an effort to compromise a business, a business’s clients, or the public at large, often while demanding a ransom.
So far in 2021, numerous cyberattacks have taken place. Most notably, the Colonial Pipeline was hacked in May, resulting in gasoline shortages across the Southern United States, and in June, a cyberattack on a large meat manufacturer halted a quarter of all beef operations in the United States for two days.  Countless other large- and small-scale cyberattacks occur regularly, amplifying the need for investor protection from such future occurrences.