CISO Global Files No-Action Request with SEC
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 08 2026
0mins
Should l Buy CISO?
CISO Global announced the filing of a no-action request with the U.S. Securities and Exchange Commission seeking regulatory clarity for a proposed investor-consent share loan program designed to give shareholders a direct voice in whether their shares may be made available for securities lending. The filing follows the company's review of short-volume data, publicly reported fails-to-deliver during late 2025, and shareholder-record discrepancies that the company believes warrant greater transparency and investor choice. The company notes that short sale volume data and fails-to-deliver data have important interpretive limitations as described by FINRA and the SEC, and their presence does not by itself establish abusive or unlawful activity. The company is not alleging in its no-action request that any specific intermediary or market participant engaged in unlawful conduct.
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Analyst Views on CISO
About CISO
CISO Global, Inc. is a cybersecurity, compliance, and software company. The Company provides a full range of cybersecurity consulting and related services, encompassing compliance, cybersecurity, and culture. It offers three types of services to clients, including security managed services, professional services, and cybersecurity software. The Company’s services include managed security, compliance services, security operations center (SOC) services, virtual Chief Information Security Officer (vCISO) services, incident response, certified forensics, technical assessments, and cybersecurity training. Its cybersecurity software offers a comprehensive suite of proactive cybersecurity software solutions designed to protect organizations from evolving cyber threats. Its CISO Edge is an artificial intelligence (AI) -driven cloud security solution that provides comprehensive protection across cloud-first, hybrid, and remote environments.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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CISO Global Seeks SEC Regulatory Clarity on Share Lending
- Regulatory Clarity Request: CISO Global has filed a no-action request with the SEC seeking regulatory clarity on a proposed Investor-Consent Share Loan Program, aimed at enhancing shareholder voice in stock lending, thereby improving market transparency and shareholder protection.
- Shareholder Rights Assurance: The program mandates that shareholders must opt-in before their shares are considered available for lending, allowing them to withdraw consent at any time, which not only enhances control over their assets but may also increase market trust in corporate governance.
- Market Transparency Enhancement: CISO emphasizes that the presence of short sale volume and fails-to-deliver data does not inherently indicate misconduct, thus the implementation of this program aims to eliminate misunderstandings regarding stock lending activities and promote a more transparent market environment.
- Regulatory Response Uncertainty: While CISO seeks a definitive response from the SEC, there is no assurance that the SEC will grant the request, and any response would only reflect the views of SEC staff, potentially impacting the company's future market strategies and shareholder confidence.
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- Team Development Strategy: Czerneda will focus on recruiting and developing high-performing sales teams, implementing best-in-class sales processes and performance management to increase market adoption of the company's four cybersecurity software products and enhance penetration within the existing customer base.
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- Financial Protection: The new contract provides up to $1.5 million in financial protection for the institution, enhancing its ability to manage cyber risks, particularly in overseeing distributed facilities and community services.
- Market Positioning: By positioning CHECKLIGHT® as a financial services product, CISO Global aims to democratize cyber risk management for the most vulnerable markets in North America, further solidifying its presence among small businesses and non-profits.
See More
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- Contract Renewal: CISO Global has renewed and expanded a three-year contract with one of the nation's largest religious institutions for CHECKLIGHT® software, securing over $1.1 million in sales and further solidifying its position in the cybersecurity market.
- Security Assurance: The institution has relied on CHECKLIGHT® for over four years, achieving more than 100 million hours of secure operations with zero breaches and financial claims, demonstrating the product's effectiveness and reliability.
- Enhanced Financial Protection: The new contract provides up to $1.5 million in financial protection for qualifying cyber events, assisting the institution in managing cyber risks while supporting its distributed facilities and community services.
- Growing Market Demand: This renewal reflects an increasing demand for security solutions that not only detect threats but also provide financial resilience, indicating that CISO Global's technology and risk model have gained market validation.
See More
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- Rich Program Content: Tonight's episode #746 of New to The Street will air on Bloomberg Television, reaching millions of households across the U.S., MENA, and Latin America, showcasing innovations and developments from various companies.
- Industry Leaders Speak: Dr. Jonathan C. Javitt, CEO of NRx Pharmaceuticals, discusses the company's innovative pipeline in critical care and neuropsychiatric treatments, emphasizing its leading position in the healthcare sector.
- Digital Transformation: Performance Golf, a leading digital golf instruction platform, is transforming how players improve their game worldwide, demonstrating the potential of technology in traditional sports.
- Diverse Sponsorships: The program is further supported by commercial sponsorships from Medicus Pharma, IGC Pharma, Roadzen, and Lantern Pharma, enhancing its influence in the healthcare, AI, and technology sectors.
See More
CISO Global Seeks SEC Regulatory Clarity on Share Lending
- Regulatory Clarity Request: CISO Global has filed a no-action request with the SEC seeking regulatory clarity on a proposed Investor-Consent Share Loan Program, aimed at enhancing shareholder voice in stock lending, thereby improving market transparency and shareholder protection.
- Shareholder Rights Assurance: The program mandates that shareholders must opt-in before their shares are considered available for lending, allowing them to withdraw consent at any time, which not only enhances control over their assets but may also increase market trust in corporate governance.
- Market Transparency Enhancement: CISO emphasizes that the presence of short sale volume and fails-to-deliver data does not inherently indicate misconduct, thus the implementation of this program aims to eliminate misunderstandings regarding stock lending activities and promote a more transparent market environment.
- Regulatory Response Uncertainty: While CISO seeks a definitive response from the SEC, there is no assurance that the SEC will grant the request, and any response would only reflect the views of SEC staff, potentially impacting the company's future market strategies and shareholder confidence.
See More
CISO Global Appoints New VP of Sales to Drive Growth
- Leadership Appointment: CISO Global has appointed Michael Czerneda as Vice President of Sales, tasked with driving the company's transition to software-driven growth by leveraging his 30 years of sales experience in UCaaS and cybersecurity markets to enhance sales team execution and market responsiveness.
- Team Development Strategy: Czerneda will focus on recruiting and developing high-performing sales teams, implementing best-in-class sales processes and performance management to increase market adoption of the company's four cybersecurity software products and enhance penetration within the existing customer base.
- Insurance Channel Expansion: The new VP will drive growth through insurance distribution channels, leveraging existing customer relationships and strategic partnerships to further expand market share and enhance the company's competitiveness in the cybersecurity sector.
- Market Positioning Advantage: CISO Global is uniquely positioned in the cybersecurity software and compliance solutions space, and Czerneda's addition is expected to accelerate the company's growth in this area, boosting recognition and sales of its software solutions in the market.
See More
CISO Global Partners with TeleDental to Expand Cybersecurity in Dental Practices
- Strategic Partnership: CISO Global has formed a strategic alliance with TeleDental.com and DentalChat.com to launch CyberSimple® powered by CHECKLIGHT®, aimed at providing cybersecurity and financial protection to over 358 dental clinics nationwide, highlighting a strong commitment to the dental market.
- Market Potential: With approximately 190,000 dental practices in the U.S., CISO Global estimates an annual market size of $350 million for cybersecurity solutions tailored to dental clinics, indicating significant growth opportunities in this sector.
- Financial Protection: CyberSimple® powered by CHECKLIGHT® offers up to $1.5 million in financial protection, assisting dental practices in defending against cyberattacks and data breaches while reducing operational and financial risks, thereby enhancing industry security.
- Simplified Deployment: CHECKLIGHT® integrates continuous monitoring, threat detection, and incident response, allowing dental professionals to focus on patient care rather than cybersecurity management, which improves operational efficiency and security for dental clinics.
See More
CISO Global Secures $1.1M Contract Renewal with Major Religious Institution
- Contract Renewal: CISO Global has renewed and expanded a three-year contract for CHECKLIGHT® software with one of the largest religious institutions in the U.S., securing over $1.1 million, which underscores strong market demand in the cybersecurity sector.
- Security Assurance: The institution has relied on CHECKLIGHT® for over four years, achieving more than 100 million hours of secure operations with zero breaches or financial claims, demonstrating the product's effectiveness and reliability.
- Financial Protection: The new contract provides up to $1.5 million in financial protection for the institution, enhancing its ability to manage cyber risks, particularly in overseeing distributed facilities and community services.
- Market Positioning: By positioning CHECKLIGHT® as a financial services product, CISO Global aims to democratize cyber risk management for the most vulnerable markets in North America, further solidifying its presence among small businesses and non-profits.
See More
CISO Global Secures $1.1M Software Sales with Major Religious Institution Renewal
- Contract Renewal: CISO Global has renewed and expanded a three-year contract with one of the nation's largest religious institutions for CHECKLIGHT® software, securing over $1.1 million in sales and further solidifying its position in the cybersecurity market.
- Security Assurance: The institution has relied on CHECKLIGHT® for over four years, achieving more than 100 million hours of secure operations with zero breaches and financial claims, demonstrating the product's effectiveness and reliability.
- Enhanced Financial Protection: The new contract provides up to $1.5 million in financial protection for qualifying cyber events, assisting the institution in managing cyber risks while supporting its distributed facilities and community services.
- Growing Market Demand: This renewal reflects an increasing demand for security solutions that not only detect threats but also provide financial resilience, indicating that CISO Global's technology and risk model have gained market validation.
See More
