SEC Sets 4-Day Deadline for Public Companies to Report Hacks (3)

Companies hit by cyberattacks face a four-day deadline for publicly disclosing significant impact under controversial new rules approved Wednesday by the US Securities and Exchange Commission.

Those rules, proposed last year and vigorously contested by trade organizations and businesses, would require publicly traded firms to file details of a cyberattack within four days of identifying that it has a material impact.

The markets regulator’s disclosure rules are its latest effort to boost transparency into cyber threats after years of relentless attacks against businesses from both criminal gangs and hackers backed by nation states. They also seek to address ...