SEC Focused On Cyber Disclosure After New Guidance: Chair

By Chuck Stanley (March 12, 2018, 7:42 PM EDT) -- The U.S. Securities and Exchange Commission will closely monitor how corporations respond to recently released guidance on disclosure of cybersecurity breaches, SEC Chairman Jay Clayton said Monday in Washington, D.C.

Clayton, speaking at a conference for the Council of Institutional Investors, declined to say whether the SEC might eventually issue explicit shareholder disclosure requirements for public companies that experience data breaches, but said the commission will be closely monitoring how guidance issued last month for such disclosures is implemented.

"It will be a focal point for staff review, in terms of our market intermediaries," Clayton said.

The SEC in February issued...

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