SEC Asks Companies to Disclose Cyberattacks, Data Breaches

14 Oct 2011, By Matt Liebowitz

The Securities and Exchange Commission (SEC) has formally asked publicly traded companies in the U.S. to disclose when they've been hacked or suffered a data breach. The request could drastically alter how corporations traditionally handle cybercrime attacks and the amount of staff and effort they use to prevent such incidents.

The SEC guidance, issued yesterday (Oct. 13), calls for corporations to disclose "timely, comprehensive, and accurate information" regarding any cybercrime incident that has a financial impact on the company or could mislead investors.

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