The SEC’s SolarWinds Enforcement FAQs

Earlier this week, we blogged about the SEC's SolarWinds enforcement inquiries. This morning, the SEC issued guidance in the form of 19 FAQs for responding to the voluntary request for information relating to a SolarWinds inquiry. For most companies, the important points are:

• The SEC identified the specific compromised versions of the software: Version 2020.2 (with no hotfix); Orion Platform software version 2020.2 HF 1; and Orion Platform software version 2019.4 HF 5.
• If a recipient's responses to Items 1(a) and 1(b) do not include any of those versions of the Orion Platform software, then it does not need to respond to Request Nos. 2-5 of Attachment A.
• The SEC repeated its position that Question 5, which seeks information about "other compromises" includes non-material events. Our prior guidance regarding how to respond to question 5 remains unchanged.