Bloomberg Law
March 9, 2022, 3:54 PM

SEC Weighs 4-Day Deadline for Companies to Disclose Hacks (1)

Ben Bain
Ben Bain
Bloomberg News

Companies would face more pressure to alert the public of hacks or other significant cybersecurity incidents under a new plan from the U.S. Securities and Exchange Commission.

The SEC on Wednesday proposed requiring publicly-traded firms to disclose breaches within four days. The demands would apply to incidents that are considered “material,” or important to the average investor.

The plan, which was supported by the commission’s three Democrats, is the latest move by Wall Street’s main regulator to prod companies to be more transparent when attacks occur after years of high-profile incidents. Last month, the SEC proposed requiring investment companies ...

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