As the SEC's new data breach disclosure rules take effect, here's what you need to know | TechCrunch
Starting from today, December 18, publicly-owned companies operating in the U.S. must comply with a new set of rules requiring them to disclose 'material' cyber incidents within 96 hours. The regulation represents a significant shake-up for organizations, many of which have argued that the new rules open them up to more risk and that four days isn't enough time to confirm a breach, understand its impact, or coordinate notifications. Regardless, those that don't comply ' whether a newly-listed organization or a company that has been publicly owned for decades ' could face major consequences courtesy of the U.S. Securities and Exchange Commission (SEC). Under the incoming cybersecurity disclosure requirements, first approved by the SEC in July, organizations must report cybersecurity incidents, such as data breaches, to the SEC in a specific line item on a Form 8-K report within four business days. According to the regulator, the rules are intended to increase visibility into...
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