Cybersecurity is only a small part of the ambitious regulatory agenda SEC Chair Gary Gensler has laid out.
The Securities and Exchange Commission is voting on Wednesday to propose new cybersecurity rules for public companies."Material" incidents would have to be reported on an 8-K form within four business days of the incident. While the SEC has sought to get companies to disclose cybersecurity incidents since 2011, the agency has described the reporting of incidents as"inconsistent."Companies must also provide updates on previously reported material cybersecurity incidents.
The proposed amendments will be put out for a public comment period, which will be either 30 days from when it is published in the Federal Register, or 60 days after it is issued, whichever is longer.the SEC issued proposed rules related to cybersecurity policies for investment advisors and registered funds, which are still out for public comment."A lot of issuers already provide cybersecurity disclosure to investors," SEC Chair Gary Gensler said in a statement.
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