Legal and Regulatory Liability

C.

The board of directors and senior management are ultimately responsible for all that happens in the organization.

The others are not individually liable for failures of security in the organization.

Legal and regulatory liability is a critical concern for any organization, as it can result in severe financial, reputational, and legal consequences. Therefore, it's essential to have a clear understanding of who is responsible for legal and regulatory liability in an organization.

Among the options given, the most likely responsible party for legal and regulatory liability is the Chief Legal Counsel (CLC). The CLC is typically the top legal advisor to the organization and responsible for ensuring that the organization complies with all applicable laws and regulations. The CLC provides legal advice and guidance to the organization's management and board, including identifying potential legal risks and advising on strategies to mitigate those risks.

While the Chief Security Officer (CSO) is responsible for overseeing the organization's security posture and implementing security policies and controls, they are not typically responsible for legal and regulatory compliance. The CSO may work closely with the CLC to ensure that security policies and practices align with legal and regulatory requirements.

The Board and Senior Management also have a crucial role in legal and regulatory compliance, as they are ultimately responsible for the organization's overall performance and success. This includes ensuring that the organization complies with all applicable laws and regulations. However, the Board and Senior Management typically rely on the CLC to provide legal advice and guidance on compliance matters.

Finally, the Information Security Steering Group is responsible for overseeing the development and implementation of the organization's security program. While they may be involved in legal and regulatory compliance efforts, they are not typically the primary responsible party for legal and regulatory liability.

In summary, the Chief Legal Counsel (CLC) is the most likely responsible party for legal and regulatory liability in an organization. While other stakeholders, such as the CSO, Board and Senior Management, and Information Security Steering Group, may have roles to play in compliance efforts, the CLC is typically the top legal advisor and responsible for ensuring that the organization complies with all applicable laws and regulations.