SEC Releases Guidelines On Disclosing Cyberattacks

Law360, New York (October 13, 2011, 10:36 PM EDT) -- The U.S. Securities and Exchange Commission's Corporate Finance Division on Thursday issued guidelines for disclosing information about cyberattacks in response to a recent uptick in data breaches at publicly held companies.

As the number of hacking incidents has risen in recent months and victimized companies have come under fire for their handling of the aftermath, the SEC said investors, lawyers and accountants have been looking for guidance.

The commission noted that while there is currently no federal disclosure requirement related to sharing information about cyberattacks and...
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