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SEC updates guidance on disclosing cyber breaches
The Hill: Wall Street’s top regulator on Wednesday released updated guidance on how public companies should go about disclosing cybersecurity breaches and "risks" to the public.
The Securities and Exchange Commission’s (SEC) new guidance says companies should inform investors about cybersecurity risks, even if they have not yet been targeted by hackers in a cyberattack.
It also stresses that companies publicly disclose breaches in a timely fashion, and instructs firms to take steps to prevent executives and others with previous knowledge of a breach from trading in its securities before the information is made public.
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