SEC: Public companies must report cyberattacks within four days | Engadget

While GDPR rules are more about protecting the public, the SEC appears to be more focused on investors: “Currently, many public companies provide cybersecurity disclosure to investors," SEC Chair Gary Gensler said in a statement."I think companies and investors alike, however, would benefit if this disclosure were made in a more consistent, comparable, and decision-useful way."

Technology companies have pushed against the SECs rules since they were initially announced last year, which ultimately led to the inclusion of a delay clause,. Additionally, the Information Technology Industry Council argued that the four-day deadline is too short, since companies may not know enough about the cyberattack by then.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission. All prices are correct at the time of publishing.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WATCH LIVE: Homeland Security Sec Mayorkas faces House panel over border policies | Fox Business VideoHouse Republicans have been making the case to potentially impeach the secretary over his handling of the US-Mexico border.
Source: FoxBusiness - 🏆 458. / 53 Read more »

New SEC rule requires public companies to disclose cybersecurity breaches in 4 daysThe new rules, passed by a 3-2 vote, also require publicly traded companies to annually disclose information on their cybersecurity risk management and executive expertise in the field. The idea is to protect investors.
Source: wjxt4 - 🏆 246. / 63 Read more »