Cybersecurity
SEC Weighs Four-Day Deadline for Firms to Disclose Major Hacks
- Watchdog wants firms to report cyberattacks in public filings
- Plan to be considered by SEC commissioners on Wednesday
The U.S. Securities and Exchange Commission headquarters in Washington, D.C.
Photographer: Andrew Harrer/Bloomberg
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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.