Cyber Alert Plan Puts Onus on Businesses to Assess Their Risks

Haima Marlier spoke to Bloomberg Law about the Securities and Exchange Commission’s (SEC) newly proposed deadline for cyber breach reporting.

The SEC’s proposal is subject to a period of public comment before it can be finalized with commission members’ vote. According to Haima, commenters are likely to give feedback on whether four days is a “workable” timeframe for companies to provide the cyber disclosures that the commission is seeking.

“Even after materiality is determined, there may be a lot of information about an incident that’s still not yet known four days in,” Haima said.

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