New SEC Cybersecurity Guidance Dinged By Dems As Rehash

Law360 (February 21, 2018, 8:11 PM EST) -- The U.S. Securities and Exchange Commission on Wednesday issued new guidance to public companies on how they should disclose their cybersecurity risks, but the effort was faulted by the agency’s Democratic commissioners, who said the SEC essentially reissued old advice without providing much new.

The long-awaited guidance lays out factors and obligations issuers should consider when telling investors about material risks they face from hackers and cybercriminals and what an actual incident could mean for the company’s health and ongoing operations. It also encourages them to take certain specific steps, such as ensuring they have policies to prevent insider trading by...

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