Critics Of SEC Data Breach Rules Question 4-Day Deadline

By Ben Kochman (June 10, 2022, 8:24 PM EDT) — The U.S. Securities and Exchange Commission’s plan to apply the same four-day deadline that companies have to report straightforward news like naming a new CEO to the more murky world of data security episodes could confuse investors or interfere with investigations, breach response lawyers say.

In more than 130 comments left last month on the SEC’s preliminary rules, which would require companies to disclose “material” breaches within four days, law firms, businesses and lobbyists argued that cyberattack victims should have more time to investigate incidents before reporting them to investors and the public.

The agency proposed in March that publicly traded companies…

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